FirstEnergy line rebuild to benefit 1,300 customers and meet increased power demand READING, Pa., Oct. 22, 2024 /PRNewswire/ -- FirstEnergy Pennsylvania Electric Company (FE PA), a subsidiary of FirstEnergy Corp. (NYSE: FE) doing business as Met-Ed in northeastern Pennsylvania, recently upgraded its distribution system in southeast Monroe County to help prevent service disruptions and accommodate ongoing residential and commercial growth. The work included rebuilding part of an existing power line with larg ...

The 20,000-square-foot facility is located within Ohio Edison's service area AKRON, Ohio, Oct. 21, 2024 /PRNewswire/ -- American Transmission Systems, Inc. (ATSI), a subsidiary of FirstEnergy Corp. (NYSE: FE), recently completed construction on a new operations service center in North Jackson, Mahoning County, to help streamline operations and maximize efficiencies along the local highvoltage power system. American Transmission Systems, Inc. (ATSI), a subsidiary of FirstEnergy Corp. (NYSE: FE), recently com ...

Mon Power and Potomac Edison complete 27-acre solar site in Rivesville FAIRMONT, W.Va., Oct. 18, 2024 /PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), have completed their second utility-scale solar site in West Virginia, less than a year after energizing their first solar site at Fort Martin Power Station in Maidsville. Nearly 14,000 solar panels are now producing up to 5.5 megawatts of clean, renewable power at the Rivesville site in Marion County to help meet th ...

Many crews expected to transition from Helene aid in Carolinas and Georgia AKRON, Ohio, Oct. 9, 2024 /PRNewswire/ -- As Hurricane Milton bears down on the west coast of Florida, FirstEnergy Corp. (NYSE: FE) electric companies are sending more than 580 line workers and support personnel to assist Florida Power & Light and Duke Energy with anticipated power restoration efforts following the storm. Many of the crews previously involved in restoring power after Hurricane Helene in the Carolinas and Georgia will ...

FirstEnergy Corp. (FE) , Dominion Energy (D) and American Electric Power (AEP) have jointly proposed to build a new transmission project spanning several states in the Pennsylvania-New Jersey-Maryland Interconnection ("PJM") region. The objective behind the multi-state transmission line is to support the grid, cater to the rising electricity demand from energy-intensive industries in PJM and make space for renewables to be added to the grid. Per PJM Inside Line, PJM has released its new long-term load forec ...

AKRON, Ohio, Oct. 8, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the third quarter and first nine months of 2024 after markets close on Tuesday, October 29. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 9 a.m. EDT on Wednesday, October 30. A question-and-answer session will follow. Investors, customers and other interested parties are invited to listen to a live webcast of the call and view presentation ...

Core Viewpoint - Companies FirstEnergy Corp., Dominion Energy Virginia, and American Electric Power have formed a joint planning agreement to propose new electric transmission projects to meet the growing power demand in the PJM region, enhancing regional grid reliability [1][2][3]. Group 1: Industry Context - The PJM region is experiencing unprecedented growth in power demand due to the expansion of energy-intensive industries, electrification of transportation and heating, and increased manufacturing onshoring [3]. - The Federal Energy Regulatory Commission (FERC) encourages efficient and cost-effective regional transmission development, which is crucial for meeting the rising energy needs [2]. Group 2: Project Details - The proposed projects include new 765-kV, 500-kV, and 345-kV transmission lines across Virginia, Ohio, and West Virginia, aimed at addressing reliability issues in the region [4]. - The companies submitted their joint proposals through PJM's Regional Transmission Expansion Plan (RTEP) Open Window process in September [4]. Group 3: Company Contributions - FirstEnergy Corp. operates approximately 24,000 miles of transmission lines and serves over six million customers across several states [6]. - Dominion Energy provides regulated electricity service to 3.6 million homes and businesses and is a leading developer of offshore wind and solar power [7]. - American Electric Power (AEP) operates the largest electric transmission system in the U.S. with over 40,000 miles of transmission lines and is investing $43 billion over the next five years to enhance grid reliability [8].

Core Insights - Companies Dominion Energy Virginia, American Electric Power, and FirstEnergy Corp. have formed a joint planning agreement to propose new electric transmission projects to meet the growing power demand in the PJM region [1][2][3] Group 1: Industry Context - The PJM region is experiencing unprecedented growth in power demand due to the expansion of energy-intensive industries, electrification of transportation and heating, and increased manufacturing onshoring [3] - The Federal Energy Regulatory Commission (FERC) encourages efficient and cost-effective regional transmission development [2] Group 2: Project Details - The proposed projects include new 765-kV, 500-kV, and 345-kV transmission lines across Virginia, Ohio, and West Virginia [4][5] - The companies submitted their joint proposals through PJM's Regional Transmission Expansion Plan (RTEP) Open Window process in September [4] Group 3: Company Contributions - Dominion Energy Virginia aims to leverage the expertise of the three companies to develop comprehensive and cost-effective solutions for regional reliability [4] - AEP operates the largest transmission network in the U.S. and is investing $43 billion over the next five years to enhance grid reliability and cleanliness [7] - FirstEnergy operates approximately 24,000 miles of transmission lines and serves over six million customers across multiple states [8]

Removal of dead and diseased trees in 2024 has already surpassed 2023 HOLMDEL, N.J., Oct. 7, 2024 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has removed an increasing number of dead and diseased ash trees in portions of its New Jersey service territory this year as part of an effort to reduce power outages caused by at-risk trees near power lines. So far in 2024, JCP&L arborists have identified and removed more than 7,000 vulnerable ash trees, almost ...

Core Viewpoint - FirstEnergy Corporation (FE) is positioned as a solid investment option in the Utility sector due to its continuous capital investments aimed at enhancing infrastructure resilience and performance [1] Growth Projections & Surprise History - The Zacks Consensus Estimate for FE's 2024 earnings per share (EPS) is $2.70, reflecting a year-over-year growth of 5.5% [2] - The consensus estimate for 2024 sales is $13.78 billion, indicating a year-over-year growth of 7.1% [2] - The company's long-term earnings growth rate is projected at 7% over the next three to five years [2] - FE has a positive earnings surprise history, with an average trailing four-quarter earnings surprise of 2.66% [2] Dividend Yield - FirstEnergy has a current dividend yield of 3.86%, significantly higher than the Zacks S&P 500 composite average yield of 1.24% [3] - The board approved a new dividend policy in February 2023, increasing the target payout ratio to 60-70% from the previous 55-65% [3] Return on Equity - FirstEnergy's return on equity (ROE) stands at 12.12%, surpassing the industry average of 10.42%, indicating effective utilization of shareholders' funds [4] Solvency - The time-to-interest earned ratio at the end of the second quarter was 2.11, demonstrating the company's capability to meet future interest obligations without difficulties [5] Strategic Investments - FirstEnergy's strategic investments aim to enhance service efficiency for its 6 million customers, with the "Energize365" platform focused on improving customer experience while maintaining affordability [6] - Planned investments of $26 billion between 2024 and 2028 will facilitate the installation of advanced equipment and technologies to modernize transmission and distribution infrastructure [7] Stock Performance - Shares of FirstEnergy have increased by 23.4% year-to-date, outperforming the industry's growth of 22.7% [8]