COST: 144 $MM
VOLUMES: 545 MW
ACRES: 500 Acres
COST: 825 $MM
VOLUMES: 1615 MW
ERIE, Pa., Feb. 4, 2021 /PRNewswire/ -- Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), is converting about 2,300 high-pressure sodium streetlights to smart LED streetlights in partnership with the City of Erie. The new energy-efficient streetlights will be installed in eight opportunity zones within the city, which include downtown and along the Bayfront, and will yield energy savings and provide the foundation for technology to enhance public safety.
Smart streetlights feature photocells equipped with a Wi-Fi card that allow the lights to "talk" to each other, passing real-time data to a control center through a wireless communications network. Typical photocells can only switch streetlights on or off by sensing darkness or daylight.
Smart streetlights can be monitored through Penelec's network to determine if a light is burned out, remains illuminated during daylight hours or is not operating at its proper voltage. Penelec relies currently on residents and employees to report problems with streetlights.
Network controls also will allow specific streetlights to be brightened outside bars and theaters to keep patrons safe late at night or dimmed for special events such as fireworks.
"LED lights typically offer savings and brighter streets that help promote public safety," said Nick Austin, Penelec regional president. "Smart streetlights in an interconnected network can do much more. Going forward, they can be upgraded with security cameras and sensors to detect gunshots, help motorists find parking spots and manage waste collection. We are proud to help Erie pioneer this technology."
The smart LED streetlight conversion initiative is a component of Erie's Smart City Project, which is intended to transform the city and drive economic growth by attracting companies to locate tech jobs that pay family-sustaining wages in the city's eight opportunity zones.
A Penelec contractor began converting streetlights in November and should be finished this summer. Crews can convert between 20 and 30 streetlights per day and have completed nearly 600 to date. The high-pressure sodium lamps are swapped out for smart LED fixtures at the top of existing light poles.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of contractors installing new LED smart streetlights are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 29, 2021 /PRNewswire/ -- For the third consecutive year, FirstEnergy Corp. (NYSE: FE) has been included in the Bloomberg Gender-Equality Index (GEI), recognizing its investment in gender equity in the workplace and the communities in which it operates.
The GEI uses a standardized reporting framework to measure gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies and factors like supply chain and community support. Companies included in the index scored at or above a global threshold established by Bloomberg to reflect a high level of disclosure and performance across the framework's five pillars.
Additionally, FirstEnergy's score in the Human Rights Campaign Corporate Equality Index (CEI) increased from 80 points in 2020 to 90 points in 2021, out of a total possible score of 100. The CEI is the national benchmarking tool for Fortune 1000 and AmLaw 200 companies on corporate policies, practices and benefits pertinent to lesbian, gay, bisexual, transgender and queer (LGBTQ) employees.
"How our employees feel when they come to work every day has tremendous impact on FirstEnergy's success. That's why we are raising the bar on workplace equity to ensure all employees feel that their contributions and opinions are valued," said Christine L. Walker, FirstEnergy's senior vice president and chief human resources officer. "We are always tracking our progress and the Bloomberg GEI and Human Rights Campaign CEI are key to helping us identify areas where we can further invest in our employees and the communities that we serve."
FirstEnergy has made significant strides in promoting workplace equity and engaging employees in making the company a top place to work with an open and inviting culture. Membership in employee business resource groups (EBRGs) continues to grow and play an important role in further embedding diversity and inclusion in FirstEnergy's culture. In the coming year, the company will offer panel discussions and expand its offering of virtual "Speak Up" sessions where employees can engage in open and honest dialogue about issues pertinent to LGBTQIA+ employees and other underrepresented groups.
Additionally, the FirstEnergy Foundation recently introduced a $7 million "Investing with Purpose" campaign, which includes a focus on supporting organizations that advance social justice initiatives.
"The companies included in the 2021 GEI are expanding the environmental, social, governance (ESG) data universe to include gender-related data that investors are demanding today," said Peter T. Grauer, Chairman of Bloomberg. "Their commitment to disclosure is making the business case for inclusion and driving transparency in the markets."
The Bloomberg GEI expanded in 2021 to represent 44 countries and regions, including firms headquartered in Indonesia and Bermuda for the first time. The GEI includes 380 companies from a variety of industries, including automotive, banking, consumer services, engineering and construction, and retail, up from 325 companies included in 2020. More information about the index is available at www.bloomberg.com/gei.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 28, 2021 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today published its updated Strategic Plan and announced that it is continuing its progress toward building a more diverse and inclusive workplace by pursuing a 30% increase in racially and ethnically underrepresented employees, both overall and at the supervisor-and-above leadership level, by 2025.
"Setting this goal will accelerate FirstEnergy's transformation into a more innovative, diverse and sustainable company," said Steven E. Strah, FirstEnergy's president and acting chief executive officer. "As we work to strengthen FirstEnergy and rebuild our reputation with key stakeholders, we continue to be guided by our mission, core values and behaviors, and our commitment to being a forward-thinking electric utility that always puts customers at the center of everything we do. Our Strategic Plan identifies bold goals for key areas of our business. I'm confident that with continued enhancements to our processes, we will achieve and exceed our objectives."
Assembling a Diverse and Inclusive Team
FirstEnergy is working to build a diverse, high-performing and innovative workforce that better reflects the diversity of the customers it serves; create an inclusive environment of respect, appreciation and belonging for everyone; and help employees grow, develop and excel in executing the company's strategy.
To accelerate workforce diversity, FirstEnergy has set a goal to increase the number of employees from underrepresented racial and ethnic groups by 30% by 2025. This represents an increase from 10% to 13% in the overall employee population, and 7.5% to 9.7% at the leadership level compared to the 2019 baseline.
"Diversity and inclusion are key to building a more sustainable company, achieving our goals and bringing the FirstEnergy mission to life," Strah said. "Our employees move our strategy, culture and company forward. We know that as a more diverse and inclusive company, we will improve our ability to attract top talent, increase employee engagement and better reflect the communities we serve, which in turn will improve decision-making, enhance our safety culture and fuel innovation for a more sustainable future."
In support of its goal to increase the racial and ethnic diversity of its workforce, the company is enhancing its recruiting strategy and hiring processes. Key changes include launching a FirstEnergy Ambassador network to build relationships with colleges, universities and educational organizations; increasing investments and involvement with historically Black colleges and universities; and providing leadership and management training around its hiring philosophy.
Powered by Core Values and Behaviors
FirstEnergy's Strategic Plan also articulates numerous other goals that support the company's objectives. The goals include the previously announced pledge to achieve carbon neutrality by 2050, as well as specific targets related to:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the results of our ongoing internal investigation and evaluation of our controls framework, the extent and duration of COVID-19 and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers, contractors and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; the risks and uncertainties associated with government investigations regarding Ohio House Bill 6 and related matters including potential adverse impacts on federal or state regulatory matters including, but not limited to, matters relating to rates; the risks and uncertainties associated with litigation, arbitration, mediation and similar proceedings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings and maintaining financial flexibility; economic and weather conditions affecting future operating results, such as a recession, significant weather events and other natural disasters, and associated regulatory events or actions in response to such conditions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Jan. 26, 2021 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Pennsylvania utilities completed more than $120 million in major projects over the last year that include infrastructure and technological upgrades to the electric distribution system. The investment is part of a five-year plan designed to enhance electric service reliability and minimize the impact of outages for two million customers served by Pennsylvania Power (Penn Power), West Penn Power, Pennsylvania Electric Company (Penelec) and Metropolitan Edison (Met-Ed).
Known as FirstEnergy's Long Term Infrastructure Improvement Plan (LTIIP II), the $572 million capital investment plan, which runs from 2020-2024, builds on $360 million in similar system improvements made from 2016-2019 during phase one of the plan. LTIIP projects include accelerated distribution work to replace older utility poles, underground and overhead lines and fuses; installing new substation equipment, network vaults and manhole covers; reconfiguring circuits; and placing more automated equipment in the field.
"Our Pennsylvania utilities remain committed to updating and modernizing the infrastructure, technology and equipment used to provide safe, dependable electric service to customers for many years to come," said Scott Wyman, president of FirstEnergy's Pennsylvania Operations. "We identify and undertake projects that strengthen a vast distribution network exposed to severe weather, time, tree contacts, vehicle accidents and other hazards."
Through LTIIP, customers benefit from new automated reclosing devices that will help limit the frequency, duration and scope of service interruptions. The electrical devices work like a circuit breaker in a home that shuts off power when trouble occurs, with the added benefit of automatically reenergizing a power line within seconds for certain types of outages to keep power safely flowing to customers.
These devices allow utility personnel to automatically restore service to a portion of the customers affected prior to sending a crew to investigate and manually reset equipment, which is especially helpful in rural or hard-to-access areas. This automated technology is safer and more efficient. To determine the best locations for these devices, reliability engineers reviewed outage patterns across their respective service territories and identified areas that would benefit from an automated reclosing device.
Other projects include replacing hundreds of miles of existing power lines with thicker, durable wire designed to withstand tree debris and severe weather. New utility poles were installed to support the electrical infrastructure and additional power lines were constructed to connect customers to an alternate circuit, allowing for more flexibility in restoring outages due to events such as storms or vehicle accidents. Such ties offer a backup power feed that will help keep the lights on for customers if wires or equipment on their regular line are damaged or need to be taken out of service.
In addition to electrical line upgrades, new fencing was installed in some substations to help deter climbing animals and protect against electrical equipment interference that can cause power outages. The interior fencing encircles sensitive equipment, keeping animals out of harm's way and electricity safely flowing to customers.
These targeted investments to the electric distribution system are making a positive difference:
Penn Power serves approximately 165,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, and on Facebook at www.facebook.com/PennPower.
West Penn Power serves approximately 725,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
Met-Ed serves approximately 570,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met_Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for FirstEnergy customers are available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Jan. 25, 2021 /PRNewswire/ -- Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed more than $97 million in major projects that include infrastructure enhancements, vegetation management and distribution automation to its electric distribution system. The investment is part of an 18-month plan designed to enhance electric service reliability and minimize the impact of outages for the utility's 1.1 million customers in northern and central New Jersey.
Known as the JCP&L Reliability Plus Infrastructure Investment Program, this capital investment plan built on service reliability enhancements made by JCP&L in previous years through its annual base capital investments. Projects were completed between June 1, 2019, and December 31, 2020.
"We have taken great care to ensure that JCP&L Reliability Plus focuses on the enhancements that have the most reliability benefit for our more than one million New Jersey customers," said Jim Fakult, president of JCP&L. "These projects will help to reduce the frequency of power outages, mitigate potential tree damage during severe weather events, and modernize our electric grid to provide more flexibility and resiliency for the electrical system in New Jersey."
Key JCP&L Reliability Plus projects included:
In 2021, JCP&L will continue its ongoing service reliability efforts with capital investments aimed at equipment upgrades, as well as its annual vegetation management efforts and continued inspection and maintenance work to help enhance system resiliency and keep power flowing to customers during severe weather.
JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the JCP&L Reliability Plus work is available to download on Flickr, and a video of utility personnel explaining and installing an automated reclosing device can be found on YouTube.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Jan. 25, 2021 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed installation of four electric vehicle (EV) fast-charging stations in Hancock and McHenry, the first such units the company has installed in its Maryland service area.
Fast-charging stations, also known as direct-current fast chargers (DCFC), can provide an 80% charge for most vehicles in less than an hour, enabling drivers to recharge during the day or on a break. Earlier this month, Potomac Edison installed two of these stations at Joseph Hancock Primitive Park in Hancock, and in late December the company installed two fast-charging stations at the Deep Creek Lake Information Center in McHenry.
Potomac Edison also installed Level 2 charging stations, which can accommodate two vehicles for simultaneous charging and deliver 8 to 24 miles of range per hour of charging, at the Deep Creek Information Center and at the Rail Trail Municipal Parking Lot in Hancock in December.
The new stations are part of Potomac Edison's EV Driven pilot program, a five-year Maryland Public Service Commission-approved program designed to benefit the state's environment by reducing auto emissions and support Maryland's goal to reach 300,000 zero-emission vehicles on the road by 2025. Over the course of the program, Potomac Edison will install 59 charging stations, including 20 fast-charging stations, across its seven-county Maryland territory.
"We're very pleased to have installed our first electric vehicle fast-charging stations in Maryland and excited about the progress we have made in expanding the charging station network," said James A. Sears, Jr., president of FirstEnergy's Maryland operations. "We look forward to building on this positive momentum in 2021 as we install additional charging stations across our service territory and continue to support Maryland's efforts toward electric vehicle adoption throughout the state."
Over the last two months, in addition to the fast-charging stations, Potomac Edison has completed new dual port Level 2 stations in Boonsboro, Cumberland, Keedysville, New Market and Oakland. To date, Potomac Edison has installed 16 charging stations at the following locations:
Electric vehicles offer a clean, efficient alternative to gasoline-powered vehicles, averaging as low as one-third the cost-per-mile of gasoline. Depending on the battery capacity, EV driving range can vary from about 80 miles up to 280 miles or more. The installation of public charging stations through the EV Driven program will help reduce "range anxiety" for EV owners, as well as provide key data to help determine future implementation efforts throughout Maryland and other areas served by FirstEnergy's utilities.
Potomac Edison is also offering rebates for both residential and non-residential charger installations. Residential customers of Potomac Edison in Maryland are eligible for rebates of $300 for the installation of EV charging stations at their homes and can also earn additional rewards for using their chargers during off-peak hours. Multifamily property owners can receive a rebate of up to $5,000 for the installation of charging stations within Potomac Edison's service territory. For more information, please visit www.evdrivenpe.com.
Potomac Edison serves about 270,000 customers in all or parts of Allegany, Carroll, Frederick, Garrett, Howard, Montgomery, and Washington counties. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of recently installed fast charging stations are available to download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 19, 2021 /PRNewswire/ -- The FirstEnergy Foundation has donated more than $3.4 million to nearly 100 organizations across its service territory as part of "Investing with Purpose," a company initiative focused on supporting organizations that advance health and safety, workforce development, educational and social justice initiatives. The grants, awarded in December 2020, represent the first round of approximately $7 million in charitable contributions the Foundation will award as part of the program.
"Investing with Purpose" was developed in response to the COVID-19 pandemic, which created health, financial and educational hardships for customers across FirstEnergy's six-state service territory, and in response to the events of 2020 that highlighted racial and social injustices impacting our nation. With those issues in mind, FirstEnergy leaders identified philanthropic opportunities through nonprofit organizations across its service territory that are responding to needs of vulnerable populations. "Investing with Purpose" represents an additional commitment on top of the company's annual charitable giving, which averages approximately $10 million per year.
"In light of the formidable challenges presented by the ongoing coronavirus health emergency and critical social justice work that remains at the forefront, the Foundation wanted to focus contributions in areas that would drive meaningful change in the communities we serve," said Lorna Wisham, president of the FirstEnergy Foundation and vice president of corporate affairs and community involvement for FirstEnergy. "These awards benefit new and existing nonprofit partners on the frontline of our current health and economic crisis and whose missions also reflect FirstEnergy's core values."
"Investing with a Purpose" grants were presented to organizations that support initiatives in four key areas:
The FirstEnergy Foundation is expected to finalize distribution of the remaining grants comprising the $7 million commitment in the first half of 2021.
For a full list of "Investing with Purpose" grant recipients, visit the FirstEnergy Foundation on the company's website.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Jan. 19, 2021 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed two new distribution automation projects that will reduce service interruptions for nearly 6,500 customers in its Maryland service area.
The distribution automation projects will automatically switch customers to an adjacent power line in the event of certain outages. By tying customers to a second source of power, Potomac Edison will be able to help ensure the impact of power outages on customers is minimized.
The work was completed in the Brunswick and Cumberland areas and will benefit 6,483 customers along 101 circuit miles served by Potomac Edison. The two projects, which cost a combined $2.6 million, included the installation of nine automated reclosers, new line regulators for voltage support, and reconductoring and line construction in various places along the circuits. The Cumberland project will benefit 3,624 customers and was completed in September, and the Brunswick project, which will benefit 2,859 customers, was completed last month.
"These enhancements to our system will generate meaningful benefits by improving our service restoration capabilities and reducing the impact of severe weather events experienced by thousands of our customers," said James A. Sears, Jr., president of FirstEnergy's Maryland operations.
In 2019, Potomac Edison completed two automation projects in the Frederick and Cumberland areas that have reduced service interruptions for nearly 1,200 customers. The company is planning four additional automation projects that are expected to be completed over the next two years, including two scheduled for 2021 in the New Windsor and McHenry areas.
The distribution automation initiative is one of three reliability improvement programs currently scheduled to run through the end of 2022 and approved by the Maryland Public Service Commission in 2019. Potomac Edison is also replacing approximately 50 miles of underground electrical cable each year and is installing 15 new substation recloser replacements annually.
Potomac Edison serves about 270,000 customers in all or parts of Allegany, Carroll, Frederick, Garrett, Howard, Montgomery, and Washington counties. The company also serves about 145,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 19, 2021 /PRNewswire/ -- Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), recently delivered a surprise $15,000 "Gift of the Season" to the Imagination Station's Girl Power 2021, a program at the science center in Toledo that promotes science education and STEM professions for girls. The gift was presented on behalf of the FirstEnergy Foundation as part of its annual holiday "Gifts of the Season" campaign.
In recognition of the gift, FirstEnergy Foundation will serve as presenting sponsor of Girl Power 2021. Started in 2014, Girl Power is the Imagination Station's annual STEM career day for girls. Young women who participate meet and learn from professional women in STEM fields and enjoy other hands-on activities. This year's event will be virtual due to the pandemic.
"We're proud to support the Imagination Station and all they've done and continue to do to encourage young women to pursue STEM education and careers," said Lorna Wisham, president of the FirstEnergy Foundation and vice president of corporate affairs and community involvement for FirstEnergy. "Our company and the nation will continue to have a growing need for a workforce with strong math and technical skills, and this gift demonstrates our ongoing commitment to that work."
Recipients of surprise Gifts of the Season were chosen by FirstEnergy employees who identified organizations across the company's service area that are engaged in extraordinary work to strengthen their communities.
Photos of FirstEnergy's annual "Gifts of the Season" check presentations are being shared on social media using the hashtag #GiftsofFE. Since its inception in 2016, the campaign has awarded nearly $500,000 to organizations that work to strengthen communities.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
READING, Pa., Jan. 19, 2021 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is issuing a Request for Proposal (RFP) to purchase 137,000 Solar Photovoltaic Alternative Energy Credits (SPAECs) annually over a two-year period on behalf of three FirstEnergy Pennsylvania utilities – Pennsylvania Power Company (Penn Power), Pennsylvania Electric Company (Penelec), and Metropolitan Edison Company (Met-Ed).
The RFP process will be conducted by The Brattle Group and will take place in January and February, with qualifying applications due by February 9, 2021, and bids due by March 3, 2021. Bidders in this RFP can offer to sell tranches of SPAECs, where each tranche represents a commitment to sell 500 SPAECs annually over a two-year period with deliveries beginning in 2021. Based on the RFP results, FirstEnergy's Pennsylvania utilities will enter into separate agreement(s) with winning suppliers to purchase the necessary quantities of SPAECs.
Further information about the SPAEC RFP is available on FirstEnergy's website at www.firstenergycorp.com/PA2021SPAECRFP.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 14, 2021 /PRNewswire/ -- For the 15th consecutive year, FirstEnergy Corp. (NYSE: FE) has earned recognition for its emergency response efforts from the Edison Electric Institute (EEI), a leading electric industry organization. FirstEnergy earned both the "Emergency Recovery Award" for safely and efficiently restoring service to more than 800,000 of its New Jersey and Pennsylvania customers following Tropical Storm Isaias and the "Emergency Assistance Award" for its efforts to help Entergy with restoration efforts in Texas and Louisiana following Hurricane Laura, both of which occurred in August 2020.
"Over the past year, many of our nation's electric companies and their customers have endured historic storms and wildfires and other significant weather-related events," said EEI President Tom Kuhn. "Working around the clock to restore power safely and quickly to customers and deploying mutual assistance crews to support impacted companies are hallmarks of the electric power industry. When disasters strike, impacted and neighboring electric companies are quick to assess damage and to respond and assist with restoration."
"When severe weather impacts our customers, we have well developed storm restoration plans that are quickly implemented to reduce their outage time and keep them safe," said Sam Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "This award recognizes the efforts of our crews in the field who worked safely around the clock in difficult, and sometimes hazardous, conditions to help our customers and the customers of our partner utilities."
On August 4, Tropical Storm Isaias passed swiftly through New Jersey and eastern Pennsylvania, pouring down up to 7" of rain and battering the region with wind gusts exceeding 65 mph. A massive restoration effort was launched that ultimately included more than 9,000 line workers, hazard responders, damage assessors and other support staff from FirstEnergy companies, contractors, and assisting utilities. Repairs included replacing more than 700 utility poles, 600 transformers and other equipment, and approximately 71 miles of wire. The joint effort restored service to 85% of affected customers within 3 days of the start of the storm, with more than 99% of customers restored by August 10.
On the evening of August 26, Hurricane Laura made landfall in Texas and Louisiana. The category 4 hurricane brought extreme winds, storm surge and flash flooding along the northwest Gulf Coast. More than 500 line workers, forestry crews and support personnel from eight of FirstEnergy's utilities were deployed to the most damaged areas to support service restoration for Entergy, who was part of FirstEnergy's mutual assistance effort for Tropical Storm Isaias just weeks earlier. FirstEnergy is a member of multiple electric utility mutual-assistance groups that work cooperatively to restore service to customers when a natural disaster causes large-scale power outages. Mutual assistance allows utilities to pool their resources to help restore power to customers faster.
EEI presents awards twice annually to member companies to recognize extraordinary efforts to restore power or for assisting other electric companies after service disruptions caused by weather conditions and other natural events. Winners are chosen by a panel of independent judges following an international nomination process. The awards were presented January 14, 2021, during the winter EEI Board of Directors and CEO meeting.
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than 65 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
READING, Pa., Jan. 14, 2021 /PRNewswire/ -- Metropolitan Edison (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), is using a helicopter to conduct comprehensive visual inspections of eight 500-kilovolt (kV) transmission lines within its service area. The inspections are expected to last about three weeks and will focus on components ranging from large steel crossarms to tiny hardware half the size of a pinky finger.
The helicopter conducting the inspections is a black Hughes MD500 with a registration number of N9159F in red paint on the tail. The helicopter is owned by Haverfield Aviation of Gettysburg and will operate only as weather conditions permit.
Performed every four years, a comprehensive visual inspection is a slow, structure-by-structure look where the inspector aboard a helicopter gets a bird's-eye, top-to-bottom view of each structure and the wire spans between them. The helicopter travels about 5 mph and then hovers at each structure as long as necessary for the inspector to take high-resolution photos of hardware that may need to be repaired or replaced.
Inspectors are on the lookout for items such as broken crossarms, loose or missing metal fasteners, chipped insulators, bent lattice steel and damaged wire. Storms, exposure to weather and age can cause such conditions. Findings are logged and issues will be prioritized and addressed as necessary to help ensure the continued reliable operation of the regional transmission system.
The inspections will cover about 220 miles along eight 500-kV transmission lines in Met-Ed's service territory, including locations in the York, Lebanon, Reading and Easton areas. The flight crew is in communication with any local airports when they are operating within their airspace.
The comprehensive visual inspections augment twice yearly routine helicopter patrols of transmission lines designed to look for more apparent visible conditions such as broken crossarms and damaged insulators.
Met-Ed serves approximately 570,000 customers in 14 Pennsylvania counties. Follow Met-Ed on Twitter @Met_Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of the helicopter performing the inspection is available for download on Flickr.
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SOURCE FirstEnergy Corp.
ERIE, Pa., Jan. 13, 2021 /PRNewswire/ -- Mid-Atlantic Interstate Transmission (MAIT), a transmission subsidiary of FirstEnergy Corp. (NYSE: FE), has completed and energized a new power line in Altoona, Pa. The new line provides flexibility to the transmission and distribution system to more quickly restore power to Penelec customers after service interruptions from severe winter weather, vehicle crashes on slick roadways or equipment issues. The transmission project is part of MAIT's ongoing Energizing the Future investment program.
Construction on the two-phase project began last spring. Phase one involved building a new 46-kilovolt (kV) line to connect Penelec's Westfall Substation near 17th Avenue to its 20th Street Substation near Boyer Candy, providing a second source of electricity for the 20th Street Substation. Before the line was energized this past summer, the 20th Street Substation and the distribution lines leaving the substation were fed by a single transmission line, which could result in lengthy power outages when the line needed to be repaired.
Crews then rebuilt the 46-kV line linking the 20th Street Substation to the Collinsville Substation as the second phase of the project. The reconstructed line was energized in late 2020 and utilizes larger-sized wire to increase its carrying capacity and enhance electric service reliability for tens of thousands of customers in Blair County.
"We thank the residents and businesses of Altoona for their patience during the construction of this project along city streets that temporarily altered traffic patterns and restricted parking," said Nick Austin, regional president of Penelec. "Completed in time for severe winter weather, this investment will provide reliability benefits for 3,000 of our residential and commercial customers in downtown Altoona, as well as 35,000 customers in Blair County, for decades to come. Going forward, we have the capability to more quickly get the lights back on for our customers by switching to a different power source as needed."
Through the Energizing the Future transmission investment program, FirstEnergy is upgrading or replacing existing transmission lines, constructing new lines, incorporating new, smart technology into the grid, and outfitting dozens of substations with new equipment and advanced security features. These upgrades are increasing reliability and enhancing physical security and cybersecurity across the FirstEnergy transmission system.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of crews building the new line are available for download on Flickr.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Jan. 13, 2021 /PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), are urging West Virginia customers who need assistance in paying home heating bills to apply for the Low Income Energy Assistance Program (LIEAP) by 5 p.m. January 29.
The West Virginia Department of Health and Human Resources (DHHR) has announced that applications for LIEAP will be accepted until the close of business on January 29, 2021, or until funds are exhausted. The federally funded program assists eligible state residents in paying home heating bills.
Eligibility for LIEAP benefits is based on income, household size and whether the household is responsible for heating costs. To qualify, households must meet all program guidelines, which include an applicant's annual income being at or below 60 percent of the West Virginia State Median Income.
The maximum allowable gross income levels for LIEAP Fiscal Year 2021 are:
Household Size | Gross Monthly Income Limit |
1 | $1,931 |
2 | $2,525 |
3 | $3,119 |
4 | $3,713 |
5 | $4,307 |
6 | $4,901 |
7 | $5,495 |
8 | $6,089 |
9 | $6,683 |
10 | $7,277 |
*For each additional person, add $594. Households whose income exceeds the maximum amount are not eligible. However, some types of income may be excluded for LIEAP.
Applications are available at www.wvpath.org and may also be obtained at local DHHR offices, Community Action Agencies, or senior centers operated by an Area Agency on Aging.
Completed applications should be delivered or mailed to the DHHR office located in the applicant's county of residence. A list of local offices may be found at https://dhhr.wv.gov/bcf/Pages/MapList.aspx or by calling 304-356-4619. Mailing the application to any other office or a utility company may delay the receipt by DHHR and inhibit processing the application.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
Potomac Edison serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
NEW CASTLE, Pa., Dec. 22, 2020 /PRNewswire/ -- Penn Power presented a surprise $10,000 "Gift of the Season" to the LindenPointe Entrepreneurship Academy (eAcademy) in Hermitage to support classroom upgrades that will enhance students' learning experience during the pandemic while keeping them safe and healthy. The gift was presented on behalf of the FirstEnergy Foundation as part of its annual holiday "Gifts of the Season" campaign.
Winners across FirstEnergy's service areas were chosen secretly by the company's external affairs employees, who identified organizations in their local areas that do extraordinary work to strengthen the community and enhance the lives of vulnerable and underserved individuals.
"Despite every curveball that has been thrown at us this year, the eAcademy has continued to provide local high school students with a unique program that best suits their skills and career interests," said Lorna Wisham, president of the FirstEnergy Foundation. "We're proud to support their efforts to continue finding ways to sharpen the skills of our future leaders during these uncertain times."
The eAcademy is a unique educational program created through a collaborative partnership involving the City of Hermitage and eCenter @ LindenPointe, a local business incubator, as well as 11 Mercer County school districts: Commodore Perry, Farrell, Greenville, Grove City Hickory, Kennedy Catholic, Mercer, Sharon, Sharpsville, Union and West Middlesex.
Launched in 2014, the eAcademy encourages economic development in the region by giving local high school students a year-long, practical work experience in which they partner with business leaders to develop entrepreneurial skills.
"The generous support from the FirstEnergy Foundation will allow us to continue offering a high-quality entrepreneurship program to our students, despite all the challenges we've experienced during this pandemic," said Lisa Evans, program director of the eAcademy. "We are extremely thankful for the relationship we've built with FirstEnergy and Penn Power over the years, and their support touches the lives of many local students."
In addition to financial support the eAcademy has received from the FirstEnergy Foundation, several Penn Power and FirstEnergy employees have volunteered hours of their time over the years to mentor students and help them develop their business ideas.
Photos of FirstEnergy's annual "Gifts of the Season" check presentations are being shared on social media using the hashtag #GiftsofFE. Since its inception in 2016, the campaign has awarded nearly $500,000 to organizations that work to strengthen communities.
Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 165,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
BRECKSVILLE, Ohio, Dec. 22, 2020 /PRNewswire/ -- The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), presented surprise $5,000 "Gifts of the Season" to two local nonprofit agencies that are working to make lives better in the communities they serve. The gifts were presented on behalf of the FirstEnergy Foundation as part of its annual holiday "Gifts of the Season" campaign.
The recipients of this year's gifts are United Services Organization (USO) of Northern Ohio and Taking Back Our Youth – two Cuyahoga County organizations that provide support services to underserved and vulnerable individuals of all ages across Greater Cleveland.
"We're proud to support these organizations because, despite every curveball that's been thrown at us this year, they have continued their selfless service to our local veterans and our youth," said Lorna Wisham, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy External Affairs employees who identified organizations in their local areas that do extraordinary work to strengthen the community and enhance the lives of vulnerable and underserved individuals."
USO of Northern Ohio provides resources for service members, veterans and military families throughout various transition points of their service, including assistance to help them prepare for and secure civilian work. The organization serves military families throughout 29 Ohio counties, and helps nearly 45,000 active duty, guard and reserve military members.
"Generous donors, like the FirstEnergy Foundation, provide critical support that improves the daily lives of local service members and their families," said Sherry Ems, executive director of USO of Northern Ohio. "We're not a government agency, so we rely on supporters now more than ever to fund programs that help make life easier for our local heroes."
Taking Back Our Youth provides at-risk children in Cleveland with mentoring programs and educational resources to keep their futures bright. The organization also provides incarcerated youth with services that help prepare them to be productive citizens when they transition back into society.
"We are grateful to have received this FirstEnergy Foundation gift because it will allow us to continue making a positive difference in the lives of children and young adults across our region," said Makanya Smith, executive director of Taking Back Our Youth. "Housing, family and financial security are the three core items that most inmates need upon release, and these funds will help us provide young men and women with everything they need to turn their lives around."
Photos of FirstEnergy's annual "Gifts of the Season" check presentations are being shared on social media using the hashtag #GiftsofFE. Since its inception in 2016, the campaign has awarded nearly $500,000 to organizations that work to strengthen communities.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 22, 2020 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), presented surprise $5,000 "Gifts of the Season" to two local nonprofit agencies that are working to make lives better in the communities they serve. The gifts were presented on behalf of the FirstEnergy Foundation as part of its annual holiday "Gifts of the Season" campaign.
The recipients of this year's gifts are Miriam House in Norwalk, Huron County, and the Nord Center in Lorain, Lorain County – two organizations that provide support services to underserved and vulnerable individuals of all ages within their communities.
"We're proud to support these organizations so they can continue to provide services to help those who are struggling with unexpected challenges during these uncertain times," said Lorna Wisham, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy External Affairs employees who identified organizations in their local areas that do extraordinary work to strengthen the community and enhance the lives of vulnerable and underserved individuals."
Miriam House provides transitional housing to homeless women and their children, with the goal of helping them rebuild their lives and develop the skills necessary to regain self-sufficiency to secure stable, independent housing. Last year, 10 female-headed households were temporarily sheltered at the Miriam House, and half of them were transitioned to permanent housing within a year.
"The generous funds provided by the FirstEnergy Foundation will allow us to continue to help women and their children overcome homelessness," said Rodney Schuster, executive director of Catholic Charities Diocese of Toledo who oversees the Miriam House ministry. "These funds come during a time of need because many single mothers are in a situation they never thought they would be in during this pandemic, and they come to us for help."
The Nord Center provides comprehensive behavioral health services to children, teens and adults in the greater Lorain County area, as well as offers emergency crisis and sexual assault services 24/7/365.
"We are grateful to have received this FirstEnergy Foundation gift because funding for mental health services and substance abuse is ever more critical during these difficult economic times, as the number of people who need help continues to escalate," said Don Schiffbauer, chief executive officer of the Nord Center.
Photos of FirstEnergy's annual "Gifts of the Season" check presentations are being shared on social media using the hashtag #GiftsofFE. Since its inception in 2016, the campaign has awarded nearly $500,000 to organizations that work to strengthen communities.
Ohio Edison serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 21, 2020 /PRNewswire/ -- The FirstEnergy Foundation has donated $15,000 to the Trees for Troops campaign to help make the holidays brighter for service men and women and their families at military bases across the U.S. This is the second year that FirstEnergy has provided financial support or employee volunteers to assist with the program.
"Supporting our communities and giving back to those who serve our country is a priority for FirstEnergy," said Troy Rhoades, FirstEnergy external affairs consultant and a co-chair of the company's Veterans and Allies employee business resource group. "We're proud to partner with Trees for Troops to bring a festive spirit and joy to the brave men and women who may be far from home during the holidays."
Earlier this month, FedEx Freight drivers began delivery of trees to 79 military bases across the country housing all branches of the military. To date, FedEx has helped deliver more than 244,000 Christmas trees since Trees for Troops launched in 2005.
Hundreds of tree farms across 27 states and parts of Canada donated and collected trees for this year's program. As customers at these tree farms picked out their trees for the season, they also were able to purchase trees to be donated to military families across the country. Those who donated trees had the option to attach a holiday message for their tree's recipient. More information about the program can be found at www.treesfortroops.org.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 15, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utility personnel are prepared to respond to service interruptions caused by a powerful nor'easter that could dump up to two feet of snow in some areas of Pennsylvania and northern New Jersey on Wednesday and Thursday, with heavy rain and strong winds expected to lash the Jersey shore.
Company meteorologists are tracking the winter storm, which is forecast to move into the region Wednesday morning with widespread snowfall for Pennsylvania, New Jersey, Maryland and West Virginia ranging from several inches to two feet. Rain, sleet and wind gusts of up to 55 miles per hour are expected for coastal areas of Jersey Central Power & Light.
All of FirstEnergy's electric utilities in the impacted region are implementing storm response plans, which include staffing additional dispatchers, damage assessors and analysts at regional dispatch offices, and arranging to bring in additional line, substation and forestry personnel, as needed, based on the severity of the weather. The company has also notified contractors who work throughout FirstEnergy's footprint building power lines and installing new equipment to enhance service reliability for customers to be on deck to assist with restoration efforts.
Additionally, line workers and support staff from FirstEnergy's Ohio utilities are on the road and traveling east to respond to outages in areas impacted by the winter storm, including JCP&L.
"We are monitoring the weather conditions closely and will deploy resources to the areas that could get hit the hardest," said Sam Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "The goal of our planning efforts is to restore electric service as quickly as safety allows and to minimize inconvenience our customers experience due to the storm."
Company representatives also have been in contact with emergency management officials, state officials, regulators and local officials about the storm preparation efforts.
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers are also encouraged to follow three simple steps to avoid dangerous accidental contact with electrical equipment if storms bring down wires:
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
FirstEnergy encourages customers to plan ahead for the possibility of electric service interruptions from winter weather by following these tips:
Customer Generators
FirstEnergy customers also can subscribe to email and text message alert notifications for updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and Follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 15, 2020 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 39 cents per share of outstanding common stock. The dividend will be payable March 1, 2021, to shareholders of record at the close of business on February 5, 2021.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: our ability to become current in our SEC reporting obligations; the results of our ongoing internal investigation and evaluation of our controls framework, the extent and duration of COVID-19 and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers, contractors and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; the risks and uncertainties associated with government investigations regarding Ohio House Bill 6 and related matters including potential adverse impacts on federal or state regulatory matters including, but not limited to, matters relating to rates; the risks and uncertainties associated with litigation, arbitration, mediation and similar proceedings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings and maintaining financial flexibility; economic and weather conditions affecting future operating results, such as a recession, significant weather events and other natural disasters, and associated regulatory events or actions in response to such conditions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 8, 2020 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE:FE) annual "Merry & Bright" Holiday Lights Contest is back, and utility customers are once again invited to show off their best and brightest outdoor holiday light displays for the chance to win a weekly prize.
A photo or video of customers' outdoor lighting displays can be submitted on their respective electric company's Facebook page until Friday, Dec. 18. One entry from each of FirstEnergy's 10 utility companies will be randomly selected to receive a $100 Amazon® gift card each week. The winning entries will be shared on Facebook.
Participants must be 18 years old and current FirstEnergy customers. Additional information and complete contest rules are available on each utility's Facebook page.
Keep Safety Top of Mind During the Holidays
As homes are adorned with twinkling lights, trees, wreaths and more, FirstEnergy reminds customers to decorate safely for the holidays, as well as how to stay safe around electricity and near the company's power lines and equipment. By taking the proper precautions both inside and outside of the home, customers can prevent hazards and focus on enjoying the holiday season.
Stop. Look. Live. – Decorate Safely Outdoors
More outdoor safety information for families, contractors, first responders and more is available at www.firstenergycorp.com/publicsafety.
Indoor Lighting Safety
For more holiday safety tips and to enter the "Merry & Bright" Holiday Lights Contest, connect with a FirstEnergy utility company on Facebook:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter at @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 8, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) and its subsidiaries are nearing the completion of work to rebuild and modernize an existing 138-kilovolt (kV) power line expected to enhance service reliability for more than 100,000 Ohio Edison customers in Portage and Trumbull counties.
Rebuilding nearly 140 wooden and steel structures and installing new, higher-capacity conductor wires will reinforce the line against severe weather and help reduce outages on the transmission system. Fiber optic cable also will be added for enhanced network communications, allowing grid operators to react more quickly and effectively to disturbances on the system. The line extends approximately 20 miles to connect existing electric substations in Newton Falls and Ravenna. Construction activities are limited to the existing transmission corridor.
Line construction began in May, and the project is on track to be completed by the end of this year.
"Investing in our infrastructure is crucial because it will help reduce the number of customers impacted by storm outages as well as shorten the length of outages when they do occur," said Ed Shuttleworth, regional president of Ohio Edison and Penn Power. "By rebuilding an existing line, we can enhance our ability to serve customers, better manage maintenance expenses, and minimize the project's impact on local communities and the environment."
The project is part of Energizing the Future, a multi-year investment initiative aimed at upgrading FirstEnergy's transmission facilities with advanced equipment and technologies that will reinforce the power grid and help reduce the frequency and duration of customer outages. Since launching the initiative in 2014, FirstEnergy has achieved a 50% reduction in equipment-related transmission outages across its Ohio service area, as well as the Penn Power and West Penn Power territories in western Pennsylvania.
Ohio Edison, a subsidiary of FirstEnergy Corp., serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of utility personnel completing the transmission work are available for download on Flickr. A video of utility personnel upgrading the transmission line and explaining the work can be found on the company's YouTube channel.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 30, 2020 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has installed new interior fencing at an Allegany County substation to help deter climbing animals and protect against electrical equipment interference that can cause power outages. The fencing was installed at the Thomas Street substation in Cumberland, around the 433-foot perimeter of the equipment, to help keep electricity safely flowing to customers while keeping animals out of harm's way.
Next to weather-related damage, animal intrusions are the most common cause of substation outages. Unlike other types of animal traps and deterrents, the special fencing installed by Potomac Edison prevents a wide range of climbing animals – including squirrels, raccoons, opossums, cats, frogs and others – from accessing the substation equipment and discourages them from trying again. Squirrels and other climbing animals have a highly developed memory that enables them to remember locations for food, warmth and shelter. With one brief contact with a fence panel, animals learn that a substation is not a welcoming location to visit and typically avoid it in the future.
"Equipment interference from an animal intrusion can cost thousands of dollars in damage and require hundreds of labor hours to repair as well as causing extended outages for customers," said James A. Sears, Jr., president of FirstEnergy's Maryland operations. "This special fencing is an economical solution to prevent these types of service disruptions in the future."
The Cumberland substation serves nearly 3,800 customers in Allegany County. Potomac Edison has installed this special fencing at 17 substations across its service territory since 2014 and has seen a sharp decline in substation outages due to animals as a result. The company reviews outage patterns across its footprint to determine the best locations for interior substation fencing.
Potomac Edison serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
BRECKSVILLE, Ohio, Nov. 24, 2020 /PRNewswire/ -- The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is wrapping up grid modernization work expected to enhance electric service reliability for more than 150,000 customers in Ashtabula and Lake counties.
Customers will benefit from installation of 37 new automated reclosing devices that will help limit the frequency, duration and scope of service interruptions. The electrical devices work like a circuit breaker in a home that shuts off power when trouble occurs, with the added benefit of automatically reenergizing a power line within seconds for certain types of outages to keep power safely flowing to customers.
Reclosing devices allow utility personnel to automatically restore service to customers rather than sending a crew to investigate, which is especially helpful in rural or hard-to-access areas. This automated technology is safer and more efficient. To determine the best locations for these devices, utility personnel reviewed outage patterns across The Illuminating Company's service territory and identified areas that would benefit from an automated reclosing device.
The projects also include replacing 11 miles of existing power lines with thicker, durable wire designed to withstand tree debris and severe weather elements. New utility poles were installed to support the electrical infrastructure and additional power lines were constructed to connect customers to an alternate circuit, allowing for more flexibility in restoring outages due to events such as storms or vehicle accidents. The work provides a backup power feed that will help keep the lights on for customers if wires or equipment on their regular line are damaged or need to be taken out of service.
In addition, nearly 30 capacitor banks are being installed to help ensure all customers served by a single power line receive the same flow of safe, reliable electric service by evenly distributing electricity down the line.
"This work to modernize our distribution system is necessary to meet the growing energy demands of our customers for many years to come," said Mark Jones, regional president of The Illuminating Company. "The completion of this work ahead of winter is an added bonus because it strengthens our electric system when customers depend on it the most to stay warm, and it will benefit them year-round."
The first phase of this work in this area began in July and should be completed by the end of this year. It is part of The Illuminating Company's Grid Modernization Plan, a three-year investment approved by the Public Utilities Commission of Ohio (PUCO) to modernize the electric distribution system in Ohio. In 2021, the company plans to start the second phase of work in this area, which includes installing nearly 30 additional automated reclosing devices, 37 capacitor banks and other equipment that will benefit thousands of customers in Ashtabula and Lake counties.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 24, 2020 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is wrapping up grid modernization work expected to enhance electric service reliability for more than 200,000 customers in parts of Trumbull, Mahoning, Ashtabula and Columbiana counties.
Customers will benefit from installation of more than 20 new automated reclosing devices that will help limit the frequency, duration and scope of service interruptions. The electrical devices work like a circuit breaker in a home that shuts off power when trouble occurs, with the added benefit of automatically reenergizing a power line within seconds for certain types of outages to keep power safely flowing to customers.
These devices allow utility personnel to automatically restore service to customers rather than sending a crew to investigate, which is especially helpful in rural or hard-to-access areas. This automated technology is safer and more efficient. To determine the best locations for these devices, utility personnel reviewed outage patterns across Ohio Edison's service territory and identified areas that would benefit from an automated reclosing device.
The projects also include replacing 11 miles of existing power lines with thicker, durable wire designed to withstand tree debris and severe weather elements. New utility poles were installed to support the electrical infrastructure and additional power lines were constructed to connect customers to an alternate circuit, allowing for more flexibility in restoring outages due to events such as storms or vehicle accidents. The work provides a backup power feed that will help keep the lights on for customers if wires or equipment on their regular line are damaged or need to be taken out of service.
"Severe storms have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions," said Ed Shuttleworth, regional president of Penn Power and Ohio Edison. "The completion of this work ahead of winter strengthens our electric system to help keep the power flowing safely and reliably to customers when they depend on it the most to stay warm and comfortable, and it will benefit them year-round."
The work in this area began in March and is on track for completion by the end of the year. It is part of Ohio Edison's Grid Modernization Plan, a three-year investment approved by the Public Utilities Commission of Ohio (PUCO) to modernize the electric distribution system in Ohio. Similar grid modernization work is planned across the entire Ohio Edison footprint.
Ohio Edison serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of Ohio Edison crews restringing power lines and installing new equipment are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 23, 2020 /PRNewswire/ -- As temperatures fall, FirstEnergy Corp. (NYSE:FE) customers can take steps to manage their energy usage while keeping warm.
Cool temperatures can often lead to rising energy usage for customers as the need for heat increases and HVAC systems strain to keep up with higher demand. While customers are unable to control the weather, there are several things they can do to keep their homes warm without relying solely on their home's heating unit.
Implementing the following tips will help customers use electricity wisely during the cold winter months:
Other FirstEnergy energy conservation tips are available at www.firstenergycorp.com/saveenergy.
For assistance resources available to help with high winter bills, customers may visit www.firstenergycorp.com/billassist.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 18, 2020 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is on schedule to complete 15 substation recloser replacements by the end of this year, part of a broader initiative to enhance service reliability for customers across its Maryland service area that began in 2019.
Reclosers are located at all Potomac Edison substations to protect the power lines that feed customers. Similar to a household circuit breaker, a recloser is an automatic, high-voltage electric switch that shuts off power when trouble occurs, such as when a tree branch contacts a power line. The device then resets itself and restores power when the trouble has been removed.
The newer model reclosers being installed include single-phase technology, which can isolate a problem on one portion of a power line while keeping electricity flowing through the remainder, minimizing the number of customers interrupted by certain types of outages. Potomac Edison personnel also can operate the newer model reclosers remotely to assist line workers in the field during restoration activities.
"By making this important upgrade to our equipment, we will help reduce the number of momentary and sustained power outages our customers experience and improve the efficiency of our system," said James A. Sears, Jr., president of FirstEnergy's Maryland operations.
The new reclosers will benefit customers in the Barnesville, Beallsville, Corriganville, Frostburg, Huyetts Crossroads, Jennings, Mount Airy, New Windsor, Poolesville and Union Bridge communities. Potomac Edison is installing 15 new substation recloser replacements annually at a cost of $1 million per year and is scheduled to replace 25% of its reclosers by the end of 2022.
The recloser replacement initiative is one of three reliability improvement programs currently scheduled to run through the end of 2022 and approved by the Maryland Public Service Commission last year. In addition to the recloser replacements, Potomac Edison is replacing approximately 50 miles of underground electrical cable each year and is undertaking enhancements to its distribution platform that will automatically connect customers in certain areas to alternate circuits in the event of outages.
Potomac Edison serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 17, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that on November 17, 2020, the Company received notice from the New York Stock Exchange (NYSE) that the Company is not in compliance with the NYSE's continued listing requirements under the timely filing criteria outlined in Section 802.01E of the NYSE Listed Company Manual because the company failed to timely file its Quarterly Report on Form 10-Q for the period ended September 30, 2020 (Form 10-Q), which was due to be filed with the Securities and Exchange Commission (SEC) no later than November 16, 2020.
FirstEnergy previously filed a Form 12b-25 with the SEC on November 9, 2020, to extend the due date for the Form 10-Q from November 9, 2020, the date on which such report was initially due, to November 16, 2020.
The NYSE notice has no immediate effect on the listing of the Company's stock on the NYSE or on any of the Company's outstanding bonds. The NYSE informed the Company that, under the NYSE's rules, the Company has six months, until May 17, 2021, to file its Form 10-Q, and any subsequent delayed filings and regain compliance with the NYSE listing standards. The Company intends to become current in its SEC reporting obligations as soon as possible.
During the course of the Company's internal investigation related to ongoing government investigations, the existence of which was previously disclosed in the Company's Form 10-Q for the period ended June 30, 2020, the Independent Review Committee of the Board of Directors of the Company (the Committee) determined that three executives, including the Company's former Chief Executive Officer, violated certain Company policies and its code of conduct and should be terminated. The terminations were effective October 29, 2020. Following the Committee's determination regarding these violations of certain Company policies and its code of conduct, the Company is re-evaluating its controls framework, which could include identifying one or more material weaknesses. Further, the internal investigation remains ongoing.
In connection with the ongoing government investigations and the Company's re-evaluation of its controls framework, which could include identifying one or more material weaknesses, the Company requires additional time to complete its quarterly review and closing procedures and to provide appropriate disclosure in the Form 10-Q.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: our ability to become current in our SEC reporting obligations; the results of our ongoing internal investigation and evaluation of our controls framework, the extent and duration of COVID-19 and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers, contractors and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; the risks and uncertainties associated with government investigations regarding Ohio House Bill 6 and related matters including potential adverse impacts on federal or state regulatory matters including, but not limited to, matters relating to rates; the risks and uncertainties associated with litigation, arbitration, mediation and similar proceedings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings and maintaining financial flexibility; economic and weather conditions affecting future operating results, such as a recession, significant weather events and other natural disasters, and associated regulatory events or actions in response to such conditions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 16, 2020 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) utilities have restored service to more than 371,000 customers who lost power after windstorms swept through the company's entire service area Sunday. Crews are working around the clock to assess damage and restore service to approximately 72,000 customers who remain without power in Ohio, Pennsylvania, West Virginia, Maryland and New Jersey.
Beginning early Sunday in western Ohio and moving eastward throughout the day, powerful winds between 45-55 mph and gusting up to more than 65 mph brought down tree limbs and caused widespread damage to FirstEnergy's utility poles and equipment.
"The heavy winds caused thousands of instances of downed wires, broken poles and crossarms, and damaged transformers caused by trees and other debris contacting our electrical equipment," said Samuel L. Belcher, senior vice president and president of FirstEnergy Utilities. "Though repair work can be slowed by unsafe working conditions and numerous road closures, we will continue to work around the clock to safely make repairs and deploy resources as needed until power to all customers has been restored."
All available company resources are working to restore power across all 10 of the utility's operating companies: The Illuminating Company, Ohio Edison and Toledo Edison in Ohio; Penn Power, Penelec, West Penn Power and Met-Ed in Pennsylvania; Mon Power in West Virginia; Potomac Edison in West Virginia and Maryland; and JCP&L in New Jersey. Support personnel from FirstEnergy's corporate offices also are included in the company's contingent.
The companies have coordinated with contractors and electrical industry mutual assistance organizations to secure more than 800 additional resources to assist in the hardest hit areas in Pennsylvania and Ohio.
Current outage updates as of 5:00 p.m. today include:
Customer-specific restoration estimates will be updated when available. For updates, please login to your utility account, call 1-888-LIGHTSS (1-888-544-4877), or visit www.firstenergycorp.com/outages. During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately call 911 if they see downed wires. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
To safeguard the health and safety of FirstEnergy employees, contractors and the public, please respect social distancing protocols as utility personnel work around the clock to restore all power outages.
Emergency power generators offer an option for customers needing or wanting uninterrupted service. However, to ensure the safety of the home's occupants as well as that of utility company employees who may be working on power lines in the area, the proper generator should be selected and installed by a qualified electrician. When operating a generator, the power coming into the home should always be disconnected. Otherwise, power from the generator could be sent back onto the utility lines, creating a hazardous situation for utility workers.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. More information about these communications tools is available online at www.firstenergycorp.com/connect. You can also follow FirstEnergy and its utilities on social media here: https://firstenergycorp.com/newsroom/social_media.html
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
View original content to download multimedia:http://www.prnewswire.com/news-releases/firstenergy-crews-continue-to-make-repairs-following-windstorms-301174096.html
SOURCE FirstEnergy Corp.
READING, Pa., Nov. 12, 2020 /PRNewswire/ -- With winter just around the corner, Metropolitan Edison (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), is inspecting and completing maintenance on weather-sensitive equipment to help enhance system resiliency and service reliability for customers in its 14-county eastern and south-central Pennsylvania service area.
Winter's frigid temperatures can increase demand for electricity, and heavy snow, wind and ice have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment before the snow falls can help keep power flowing to customers.
"Our preparations do not end with inspecting electrical infrastructure and preparing our vehicles for winter operations," said Linda Moss, Met-Ed regional president. "Employee and public safety are our top priority. Ours is an unforgiving business, so we review cold-weather procedures and time-proven safety measures with our line workers and other field employees to help ensure not only their safety, but that of our customers during winter."
Fall work includes inspecting heaters for substation components such as capacitor banks, circuit breakers and gas- and oil-filled transformers. Certain larger substations have buildings that house remote-controlled relay equipment, which are winterized and inspected to ensure their heating systems are ready for the season.
Meanwhile, substation electricians diligently inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Our mechanics inspect bucket trucks – the trusted workhorses of our fleet – to ensure they are safe to operate and ready to roll on snow-covered roads and freezing temperatures. Special emphasis is placed on the condition of tires and air brakes, which can freeze up if moisture is present. Snow removal equipment is checked as well, to ensure that a simple detail like ensuring access to substations, clear work areas and sidewalks at our service centers and other facilities is not overlooked.
Helicopter patrols also are completing inspections on approximately 1,400 miles of FirstEnergy transmission lines located in the Met-Ed area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems invisible from the ground. Any potential reliability issues identified during the inspection can then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Met-Ed tree contractors have trimmed about 2,600 circuit miles of electric lines this year and are on track to complete nearly 3,200 total miles of trimming by the end of 2020.
In addition to preparing equipment and vehicles for winter, managers review cold-weather safety procedures with field employees, including how to traverse slippery conditions to avoid slips and falls. They are also reminded to hydrate and take frequent breaks in warm trucks to avoid frostbite and maintain sharp mental focus. Particular emphasis is placed on safe winter driving to ensure crews arrive safely to the work site.
Met-Ed serves approximately 570,000 customers in 14 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for Met-Ed customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/met-ed-completes-inspections-and-maintenance-prior-to-winter-weather-301172194.html
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 12, 2020 /PRNewswire/ -- To help keep power flowing to customers in the cold winter months, Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter in its Maryland and West Virginia service areas by conducting inspections and maintenance to help enhance system reliability.
Snow, ice and wind have the potential to damage equipment such as poles, wires and substations during the winter season, when demand for electricity is typically high. Potomac Edison is working to complete inspections and maintenance now to help preempt difficult repairs in harsh conditions and to keep power flowing to its customers in the months ahead.
"By actively preparing our power infrastructure and our fleet vehicles for potentially challenging winter weather, we will be better positioned to serve our customers and to ensure employee safety as the temperature drops," said James A. Sears, Jr., vice president of Potomac Edison.
Potomac Edison is inspecting substation components such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Substation control buildings that house protective relays and remote monitoring and control equipment will be winterized and have their heating systems checked.
Substation electricians inspect batteries used to power relays and motors that sense faults on the network and operate switches to isolate those problems, helping to prevent or reduce service interruptions. Electricians view critical components through special thermal-imaging cameras to detect hot spots on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles are also being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked, and Potomac Edison will place salt containers and snow shovels at each of its service centers for employee safety and operational continuity.
Since mid-October, helicopter patrols have been inspecting approximately 1,400 miles of transmission lines located in the Potomac Edison service area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection can then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Potomac Edison tree contractors expect to complete trimming along more than 2,600 circuit miles of electric lines in 2020.
Potomac Edison serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for Potomac Edison customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/potomac-edison-prepares-for-winter-weather-301172203.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 12, 2020 /PRNewswire/ -- With winter just around the corner, West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is inspecting and completing maintenance on weather-sensitive equipment to help enhance system resiliency and service reliability for customers in its 24-county western and central Pennsylvania service territory.
Winter's frigid temperatures can increase demand for electricity, and heavy snow, wind and ice have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment before the snow falls can help keep power flowing to customers.
"Our preparations do not end with inspecting electrical infrastructure and preparing our vehicles for winter operations," said John Rea, West Penn Power regional president. "Employee and public safety are our top priority. Ours is an unforgiving business, so we review cold-weather procedures and time-proven safety measures with our line workers and other field employees to help ensure not only their safety, but that of our customers during winter."
Fall work includes inspecting heaters for substation components such as capacitor banks, circuit breakers and gas- and oil-filled transformers. Certain larger substations have buildings that house electrical equipment that is winterized and inspected to ensure their heating systems are ready for the season.
Meanwhile, substation electricians diligently inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Our mechanics inspect bucket trucks – the trusted workhorses of our fleet – to ensure they are safe to operate and ready to roll on snow-covered roads and freezing temperatures. Special emphasis is placed on the condition of tires and air brakes, which can freeze up if moisture is present. Snow removal equipment is checked as well, to ensure that a simple detail like ensuring access to substations, clear work areas and sidewalks at our service centers and other facilities is not overlooked.
Helicopter patrols also are completing inspections on approximately 1,700 miles of FirstEnergy transmission lines located in the West Penn Power area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems invisible from the ground. Any potential reliability issues identified during the inspection can then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. West Penn Power tree contractors have trimmed about 4,000 circuit miles of electric lines this year and are on track to complete nearly 4,600 total miles of trimming by the end of 2020.
In addition to preparing equipment and vehicles for winter, managers review cold-weather safety procedures with field employees, including how to traverse slippery conditions to avoid slips and falls. They are also reminded to hydrate and take frequent breaks in warm trucks to avoid frostbite and maintain sharp mental focus. Particular emphasis is placed on safe winter driving to ensure crews arrive safely to the work site.
West Penn Power serves approximately 725,000 customers in 24 counties within central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for West Penn Power customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/west-penn-power-completes-inspections-and-maintenance-prior-to-winter-weather-301172204.html
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Nov. 12, 2020 /PRNewswire/ -- To help keep power flowing to customers during the cold winter season, Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter in its West Virginia service area by conducting inspections and maintenance to help enhance system reliability.
Snow, ice and wind have the potential to damage equipment such as poles, wires and substations during the winter season, when demand for electricity is typically high. Mon Power is working to complete inspections and maintenance now to help preempt difficult repairs in harsh conditions and to keep power flowing to its customers in the months ahead.
"By actively preparing our power infrastructure and our fleet vehicles for potentially challenging winter weather, we will be better positioned to serve our customers and to ensure employee safety as the temperature drops," said Jim Myers, president of West Virginia operations for Mon Power.
Mon Power is inspecting substation components such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Substation control buildings that house protective relays and remote monitoring and control equipment will be winterized and have their heating systems checked.
Substation electricians inspect batteries used to power relays and motors that sense faults on the network and operate switches to isolate those problems, helping to prevent or reduce service interruptions. Electricians view critical components through special thermal-imaging cameras to detect hot spots on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles are also being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols have been inspecting approximately 2,100 miles of transmission lines located in the Mon Power service area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection can then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Mon Power tree contractors have completed trimming along 4,600 circuit miles of electric lines and along nearly 400 miles of transmission lines this year.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for Mon Power customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/mon-power-prepares-for-winter-weather-301172201.html
SOURCE FirstEnergy Corp.
ERIE, Pa., Nov. 12, 2020 /PRNewswire/ -- With winter just around the corner, the Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), is inspecting and completing maintenance on weather-sensitive equipment to help enhance system resiliency and service reliability for customers in its 31-county western and central Pennsylvania service area.
Winter's frigid temperatures can increase demand for electricity, and heavy snow, wind and ice have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment before the snow falls can help keep power flowing to customers.
"Our preparations do not end with inspecting electrical infrastructure and preparing our vehicles for winter operations," said Nick Austin, Penelec regional president. "Employee and public safety are our top priority. Ours is an unforgiving business, so we review cold-weather procedures and time-proven safety measures with our line workers and other field employees to help ensure not only their safety, but that of our customers during winter."
Fall work includes inspecting heaters for substation components such as capacitor banks, circuit breakers and gas- and oil-filled transformers. Certain larger substations have buildings that house remote-controlled relay equipment, which are winterized and inspected to ensure their heating systems are ready for the season.
Meanwhile, substation electricians diligently inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Mechanics inspect bucket trucks – the trusted workhorses of our fleet – to ensure they are safe to operate and ready to roll on snow-covered roads and freezing temperatures. Special emphasis is placed on the condition of tires and air brakes, which can freeze up if moisture is present. Snow removal equipment is checked as well, to ensure that a simple detail like ensuring access to substations, clear work areas and sidewalks at our service centers and other facilities is not overlooked.
Helicopter patrols also are completing inspections on approximately 2,500 miles of FirstEnergy transmission lines located in the Penelec area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems invisible from the ground. Any potential reliability issues identified during the inspection can then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Penelec tree contractors have trimmed about 3,700 circuit miles of electric lines this year and are on track to complete nearly 4,300 total miles of trimming by the end of 2020.
In addition to preparing equipment and vehicles for winter, managers review cold-weather safety procedures with field employees, including how to traverse slippery conditions to avoid slips and falls. They are also reminded to hydrate and take frequent breaks in warm trucks to avoid frostbite and maintain sharp mental focus. Particular emphasis is placed on safe winter driving to ensure crews arrive safely to the work site.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for Penelec customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/penelec-completes-inspections-and-maintenance-prior-to-winter-weather-301172193.html
SOURCE FirstEnergy Corp.
NEW CASTLE, Pa., Nov. 12, 2020 /PRNewswire/ -- As winter approaches, the Pennsylvania Power Company (Penn Power), a subsidiary of FirstEnergy Corp. (NYSE: FE), is wrapping up the installation of new interior fencing in three substations to help deter climbing animals that often seek food, shelter and warmth during the cold-weather months, as well as protect against electrical equipment interference that can cause power outages.
This work builds upon the company's previous system upgrades that have eliminated animal-related power outages in two Mercer County substations where the fence applications were installed last year. The fencing – installed inside of a substation around the perimeter of the equipment – keeps the animals out of harm's way and the electricity safely flowing to customers.
"Climbing animals present a threat to substation operation and electric service reliability," said Ed Shuttleworth, regional president of Penn Power and Ohio Edison. "We are pleased to have experienced tremendous success with the interior fencing we installed last year, and we anticipate similar results with the new applications to help keep the power flowing safely and reliably to our customers this winter."
The work is part of Penn Power's second phase Long Term Infrastructure Improvement Plan (LTIIP II), approved by the Pennsylvania Public Utility Commission to help enhance electric service for customers. Installation of the fencing was completed at a Mercer County substation in September and a Butler County substation in November. The remaining application will be installed at a Lawrence County substation by the end of this year.
Unlike other types of animal traps and deterrents, this special fencing completely prevents climbing animals from accessing the substation equipment and discourages them from trying again. Many climbing animals, like squirrels, have a highly developed memory that enables them to remember locations for food, warmth and shelter. With one brief contact with a fence panel, animals learn that a substation is not a welcoming location to visit and typically avoid protected substations in the future.
"A single substation outage can cost thousands of dollars in equipment damage and hundreds of man hours to repair as well as cause extended outages for customers served by that circuit," said Shuttleworth. "The special fencing was an economical solution to prevent these types of service disruptions in the future."
To determine the best locations for the interior substation fencing, utility personnel reviewed outage patterns across Penn Power's service area and identified substations in Mercer, Cranberry and New Castle that had experienced animal-related equipment damage that caused lengthy power outages. These substations collectively serve nearly 15,000 customers in western Pennsylvania.
In preparation for winter, utility personnel also have completed inspections and conducted equipment maintenance on weather-sensitive equipment across its service area.
The work includes the use of special thermal-imaging cameras to detect hot spots, or weak points, invisible to the naked eye on electrical equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold. Substation electricians also inspected batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope.
Penn Power serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Penn Power crews installing an interior substation fence are available for download on Flickr. A video of utility personnel installing the fence application and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/penn-power-wraps-up-projects-to-strengthen-electric-system-ahead-of-winter-301172199.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 12, 2020 /PRNewswire/ -- To help keep the power flowing to customers through the cold winter months, Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help to enhance system reliability when the snow begins to fly.
"Winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter operations, make a difference when the weather turns cold," said Rich Sweeney, regional president of Toledo Edison. "The steps we take now in advance of potential severe weather conditions help to enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, and oil- and gas-filled circuit breakers. Some substations also include buildings that house protective relays, batteries and various control equipment. These structures will be winterized and have the heating systems checked.
Substation electricians inspect batteries used to power substation controls and protective relays that sense faults on the network and automatically operate circuit breakers to isolate those problems, helping to prevent damage to power lines and other power distribution equipment. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. Plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols are completing inspections on FirstEnergy transmission lines located in the Toledo Edison area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection can be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Toledo Edison has already completed trimming along more than 2,000 miles of lines in 2020, with work along approximately 75 more miles to be completed by the end of the year.
Employee safety remains a priority during the pandemic, and cold weather can impact the health and safety of our workers. Toledo Edison's cold-weather operational procedures are reviewed with linemen, substation electricians, metermen and meter readers in advance of any frigid conditions. Toledo Edison personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Driving safety is reviewed with the crews as winter often brings treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts when they experience a power outage. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information is also provided through the companies' web-based outage information and text messaging and alert services.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance programs are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/toledo-edison-completes-inspections-and-maintenance-prior-to-winter-weather-301172198.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 12, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for the winter season by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area. These efforts are expected to enhance system resiliency and service reliability for customers throughout JCP&L's service footprint.
Winter's cold temperatures can increase demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help enhance system resiliency to keep power flowing to customers when the snow begins to fall.
"Our winter maintenance protocols help ensure that our system will be ready to perform once the cold weather returns and inclement weather conditions follow," said Alex Patton, vice president of Operations, JCP&L. "These proactive measures in advance of any severe weather conditions help keep the lights on for our customers and enhance overall service reliability."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers and oil and gas-filled circuit breakers. Substation buildings that house remote-controlled relay equipment will be winterized and the heating systems will be checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate problems, helping to prevent or reduce service interruptions.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols have been inspecting transmission lines located in the JCP&L service area to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection can then be addressed.
JCP&L's tree contractors have completed trimming work along 2,950 circuit miles of electric lines to date this year, and they are on track to complete an additional 450 miles of tree trimming by the end of December.
In addition to preparing equipment and vehicles for winter, managers review cold-weather safety procedures with field employees, including how to traverse slippery conditions to avoid slips and falls. They are also reminded to hydrate and take frequent breaks in warm trucks to avoid frostbite and maintain sharp mental focus. Particular emphasis is placed on safe winter driving to ensure crews arrive safely to the work site. Employees are also taking extra precautions to work safely throughout the coronavirus health emergency, including social distancing, alternating shifts and splitting into smaller work groups.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's note: Photos of workers conducting inspections to enhance service reliability for JCP&L customers are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/jcpl-conducting-inspections-and-maintenance-prior-to-winter-season-301172197.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 12, 2020 /PRNewswire/ -- With the cold-weather months expected to produce higher electric usage, Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and equipment maintenance expected to enhance service reliability for customers who rely on power to stay warm, safe and comfortable.
"We proactively inspect and maintain our equipment to help ensure system reliability to meet the increased electrical demand when the temperatures drop," said Ed Shuttleworth, regional president of Ohio Edison and Penn Power. "We anticipate many customers will continue to spend more time at home, including working and learning remotely during the winter, and our goal is to deliver the safe and reliable power they rely on."
Helicopter patrols have completed inspections on nearly 10,000 miles of FirstEnergy transmission lines located across Ohio Edison's service territory this year. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspections can be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages caused by the weight of ice and heavy, wet snow on branches. Ohio Edison's tree contractors are on track to complete tree trimming along nearly 5,000 circuit miles of electric lines in 2020.
On the ground, proactive equipment inspections include using "thermovision" cameras to capture infrared images of electrical equipment that can detect potential problems within substations and on power lines that cannot be observed during regular visual inspections. The infrared technology shows heat on a color scale, with brighter colors or "hot spots" indicating areas that could need repairs. These images can identify equipment issues such as loose connections, corrosion and load imbalances, and utility workers are able to make repairs to prevent potential power outages in the future.
Other utility work being done by Ohio Edison personnel includes inspecting distribution circuits, such as transformers, capacitors, reclosers and lightning arrestors to ensure the equipment is operational and the lines are ready to perform efficiently when demand for electricity increases during the winter, typically due to heating.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. Snow removal equipment is also being checked.
Ohio Edison employees also participated in virtual readiness exercises and drills throughout the year to test the company's restoration process used to repair winter storm-related power outages. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
Ohio Edison serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for Ohio Edison customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
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SOURCE FirstEnergy Corp.
BRECKSVILLE, Ohio, Nov. 12, 2020 /PRNewswire/ -- With the cold-weather months expected to produce higher electric usage, The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and equipment maintenance expected to enhance service reliability for customers who rely on power to stay warm, safe and comfortable.
"Completing inspections and equipment maintenance now can help enhance system resiliency to keep power flowing to customers when severe winter weather strikes," said Mark Jones, regional president of The Illuminating Company. "Many customers are spending more time at home during the current pandemic, and our goal is to deliver the safe and reliable power they rely on."
Helicopter patrols have completed inspections on nearly 2,500 miles of FirstEnergy transmission lines located across The Illuminating Company's service territory this year. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspections can be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages caused by the weight of ice and heavy, wet snow on branches. The Illuminating Company's tree contractors have completed trimming work along 1,600 circuit miles of electric lines to date this year, and they are on track to complete an additional 300 miles of tree trimming by the end of December.
On the ground, proactive equipment inspections include using "thermovision" cameras to capture infrared images of electrical equipment that can detect potential problems within substations and on power lines that cannot be observed during regular visual inspections. The infrared technology shows heat on a color scale, with brighter colors or "hot spots" indicating areas that could need repairs. These images can identify equipment issues such as loose connections, corrosion and load imbalances, and utility workers are able to make repairs to prevent potential power outages in the future.
Other utility work being done by The Illuminating Company personnel includes inspecting distribution circuits, such as transformers, capacitors, reclosers and lightning arrestors to ensure the equipment is operational and the lines are ready to perform efficiently when demand for electricity increases during the winter, typically due to heating.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. Snow removal equipment is also being checked.
The Illuminating Company's employees also participated in virtual readiness exercises and drills throughout the year to test the company's restoration process used to repair winter storm-related power outages. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for The Illuminating Company's customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 9, 2020 /PRNewswire/ -- Aligned with its mission to help build a brighter and more sustainable future for the communities it serves, FirstEnergy Corp (NYSE:FE) today announced a pledge to achieve carbon neutrality by 2050. The company also set an interim goal for a 30% reduction in greenhouse gases within the company's direct operational control by 2030, based on 2019 levels.
"We believe climate change is among the most important issues of our time," said President and Acting Chief Executive Officer Steven E. Strah. "We will help address this challenge by building a more climate-resilient energy system and supporting the transition to a carbon-neutral economy. Our ambitious new carbon goal and comprehensive climate strategy are fully aligned with our regulated business strategy and support our commitments to our customers, communities and investors, as well as environmental stewardship."
FirstEnergy's comprehensive Climate Position and Strategy Statement outlines the company's aggressive, business-wide plans to mitigate risks from climate change, reduce greenhouse gas emissions, and enable its customers and communities to thrive in a carbon-neutral economy. Actions to achieve these goals include:
Oversight, accountability and risk mitigation for the climate policy will be provided by an executive steering committee in partnership with the Board and company leadership.
In 2015, FirstEnergy announced plans to achieve a 90% reduction in carbon dioxide (CO2) emissions from 2005 levels by 2045. To date, the company has reduced CO2 emissions by approximately 80% by implementing new technologies and retiring or transferring generation assets. The new goals represent a significant expansion of this target and reflect FirstEnergy's transformation to a fully regulated utility.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the results of our ongoing internal investigation and evaluation of its controls framework, the extent and duration of COVID-19 and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers, contractors and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; the risks and uncertainties associated with government investigations regarding Ohio House Bill 6 and related matters including potential adverse impacts on federal or state regulatory matters; the risks and uncertainties associated with litigation, arbitration, mediation and similar proceedings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; economic and weather conditions affecting future operating results, such as a recession, significant weather events and other natural disasters, and associated regulatory events or actions in response to such conditions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 5, 2020 /PRNewswire/ -- Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is constructing two specially designed flood walls to help protect the Sussex and Canoe Brook substations in Sussex County, N.J., from rising flood waters that can accompany severe weather.
The flood walls are designed to help prevent power outages by protecting substation property and equipment from intruding water. A four-foot high, L-shaped concrete wall with an automatic, waterproof gate has been constructed around each substation. Pressure from rising water causes the gate to raise up automatically, protecting the equipment within the substation with no need for electronic sensors and switches or operator action.
Work at the Sussex substation was completed earlier this year, and construction of the Canoe Brook substation flood wall is scheduled to be completed by the end of November 2020.
"Identifying and addressing the potential for flooding that can impact our substations and cause outages for customers has been an area of focus for JCP&L," said Alex Patton, vice president, Operations for JCP&L. "Construction of these specially designed substation walls helps eliminate the flooding concern and advances our ongoing efforts to ensure more resilient and reliable electricity for our customers through the JCP&L Reliability Plus infrastructure improvement plan."
Located within a designated flood zone in Clove Brook, N.J., the Sussex and Canoe Brook substations were strategically chosen to receive the flood mitigation measures based on a history of flooding. Following Hurricane Sandy in 2012, JCP&L installed a similar flood wall system with two automatic gates at its Monmouth Beach substation, which has since experienced no significant flooding.
JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the flood wall sites in Sussex and Canoe Brook are available for download on Flickr. A video featuring the Canoe Brook flood wall site can be found on the company's YouTube channel.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 2, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported third quarter 2020 GAAP earnings of $454 million, or $0.84 per basic and diluted share of common stock, on revenue of $3 billion. In the third quarter of 2019, FirstEnergy reported GAAP earnings of $391 million, or $0.73 per basic share of common stock ($0.72 diluted), on revenue of $3 billion. Third quarter 2019 results include the impact of special items listed below.
Operating (non-GAAP) earnings* for the third quarter of 2020 were also $0.84 per share, one cent per share above the company's guidance range. In the third quarter of 2019, operating (non-GAAP) earnings were $0.76 per share.
"Our strong third quarter results reflect the hard work, resiliency and attention to safety demonstrated by our employees during this year of unprecedented challenges," said Steven E. Strah, FirstEnergy's acting chief executive officer.
"While our Board initiated changes to our leadership team last week, our company's primary focus remains the same: providing reliable service to our customers and executing our growth initiatives," he said.
FirstEnergy updated its full-year 2020 GAAP earnings forecast range to $700 million to $1.16 billion, or $1.29 to $2.14 per share based on 542 million shares outstanding, and affirmed its full-year operating (non-GAAP) earnings guidance of $2.40 to $2.60 per share.
The company also affirmed its long-term growth rate projections. FirstEnergy remains on track to achieve 6% to 8% compound annual operating (non-GAAP) earnings growth (CAGR)** from 2018 to 2021, as well as its extended CAGR of 5% to 7% through 2023. That projection includes plans to issue up to $600 million of equity annually starting in 2022 to fund the company's regulated growth initiatives.
Third Quarter Results
In FirstEnergy's Regulated Distribution business, third quarter 2020 operating results benefited from higher residential volume, incremental rider revenues in Ohio and Pennsylvania, and weather-related usage. These drivers were partially offset by higher depreciation expense compared to the third quarter of 2019.
Total distribution deliveries decreased 1.7% compared to the third quarter of 2019, primarily due to the impact of the pandemic on commercial and industrial sales. Residential sales increased 5.1% as many people continue to work and attend school from home. Commercial deliveries decreased 5.5%, while sales to industrial customers decreased 6.3%.
In the Regulated Transmission business, third quarter 2020 operating results were flat compared to the same period in 2019 as higher rate base associated with the company's ongoing investments in its Energizing the Future transmission program were offset by higher net financing costs and taxes.
In the Corporate/Other segment, third quarter 2020 operating results reflect higher tax benefits compared to the same quarter of 2019, partially offset by higher expenses.
For the first nine months of 2020, FirstEnergy reported GAAP earnings of $837 million, or $1.54 per basic and diluted share of common stock, on revenue of $8.3 billion. This compares to GAAP earnings of $1 billion, or $1.90 per basic share of common stock ($1.89 diluted), on revenue of $8.4 billion in the first nine months of 2019. Results for both periods reflect the impact of special items listed below.
Operating (non-GAAP) earnings* for the first nine months of 2020 were $2.07 per share, compared to $2.04 per share in the first nine months of 2019.
Consolidated GAAP Earnings to Operating (Non-GAAP) EPS* Reconciliation | ||||||||||
Third Quarter | Year-to-Date | 2020 Estimates | ||||||||
2020 | 2019 | 2020 | 2019 | Full Year | ||||||
Net Income attributable to Common Stockholders (GAAP) - $M | $454 | $391 | $837 | $1,016 | $700 - $1,160 | |||||
Earnings Per Share | $0.84 | $0.73 | $1.54 | $1.90 | $1.29 - $2.14 | |||||
Excluding Special Items*: | ||||||||||
Pension/OPEB Mark-to-market adjustments – | ||||||||||
Q1 Remeasurement | – | – | 0.59 | – | 0.59 | |||||
Q4 Estimated Remeasurement*** | – | – | – | – | 0.58 – (0.07) | |||||
Impact of full dilution | – | – | – | (0.01) | – | |||||
Regulatory charges | – | – | 0.01 | (0.01) | 0.01 | |||||
Exit of competitive generation | – | 0.03 | (0.07) | 0.16 | (0.07) | |||||
Total Special Items* | – | 0.03 | 0.53 | 0.14 | 1.11 –0.46 | |||||
Operating EPS (non-GAAP) | $0.84 | $0.76 | $2.07 | $2.04 | $2.40 - $2.60 | |||||
Per share amounts for the special items and earnings drivers above and throughout this report are based on the after-tax effect of each item divided by the number of shares outstanding for the period assuming full impact of dilution from the $2.5 billion equity issuance in January 2018. The current and deferred income tax effect, which ranges from 21% to 29% in all periods, was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount if deductible/taxable. | ||||||||||
Non-GAAP financial measures
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the Company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the Company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the Company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and Operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes special items as discussed herein, for the periods presented in 2020 by 542 million shares, 540 million shares for the third quarter of 2019 and 539 million shares in the first nine months of 2019, which reflects the full impact of share dilution from the equity issuance in January 2018. Basic EPS (GAAP) is based on 542 million shares for the periods presented in 2020, and 538 million and 533 million shares for the third quarter and first nine months of 2019, respectively. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the Company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the Company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Investor Materials and Teleconference
FirstEnergy's Strategic and Financial Highlights and Investor Factbook are posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on the Third Quarter 2020 Financial Results link.
The company invites investors, customers and other interested parties to listen to a live webcast of its teleconference for financial analysts and view presentation slides at 9 a.m. EDT today. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Third Quarter 2020 Earnings Webcast link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the results of our ongoing internal investigation and evaluation of its controls framework, the extent and duration of COVID-19 and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers, contractors and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; the risks and uncertainties associated with government investigations regarding Ohio House Bill 6 and related matters including potential adverse impacts on federal or state regulatory matters; the risks and uncertainties associated with litigation, arbitration, mediation and similar proceedings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; economic and weather conditions affecting future operating results, such as a recession, significant weather events and other natural disasters, and associated regulatory events or actions in response to such conditions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 29, 2020 /PRNewswire/ -- The Independent Review Committee of the Board of Directors of FirstEnergy Corp. (NYSE: FE) today announced a leadership transition, including the termination of the Company's Chief Executive Officer, Charles E. Jones, effective immediately. FirstEnergy today also announced the termination of two other executives: its Senior Vice President of Product Development, Marketing, and Branding; and its Senior Vice President of External Affairs, effective immediately.
During the course of the Company's previously disclosed internal review related to the government investigations, the Independent Review Committee of the Board determined that these executives violated certain FirstEnergy policies and its code of conduct.
Concurrently, Steven E. Strah, President of FirstEnergy, has been appointed Acting Chief Executive Officer, effective immediately. As part of this transition, Christopher D. Pappas, a current member of the Company's Board, has been named Executive Director. In this role, he remains an independent member of the Board and is not a part of the management team. He reports to Donald T. Misheff, who continues as Non-Executive Chairman of the Board.
Donald T. Misheff, Non-Executive Chairman, said, "We as a Board have strong confidence that this leadership transition and Steve's appointment as Acting CEO will position FirstEnergy to move forward with positive momentum and drive long-term shareholder value creation. I look forward to working with Chris in his role as Executive Director to oversee the management team's execution of FirstEnergy's strategic initiatives, engage with the Company's external stakeholders, and support the development of enhanced controls and governance policies and procedures."
Christopher D. Pappas, Executive Director, said, "Steve's deep knowledge of FirstEnergy's business and significant operational experience, having served in various leadership roles at the Company, make him uniquely positioned to execute on our strategic priorities and lead FirstEnergy through this transition. I look forward to working with Steve as we build on the Company's strong performance and continue to execute FirstEnergy's long-term, customer-focused growth strategy to enhance value for shareholders."
"I'm excited for the opportunity to lead FirstEnergy and I am deeply committed to the future of this company," said Steven E. Strah, CEO of FirstEnergy. "I have seen firsthand the strong management team and deep bench of highly capable leaders across our organization, and I am confident in our ability to continue delivering value to our stakeholders as we remain intently focused on our business priorities through this transition and beyond. Together, we will advance our mission for the benefit of customers, communities, and our employees."
About Steven Strah
Strah is a highly-respected energy executive, with 36 years of industry experience and a deep understanding of the FirstEnergy business. He was appointed President in May 2020 as part of the Company's ordinary-course succession planning process. In this role, he oversaw FirstEnergy Utilities; Corporate Services and Information Technology; Finance; Product Development, Marketing and Branding; External Affairs; Rates and Regulatory Affairs; and Strategy. He began his career with The Illuminating Company in 1984 and served in a variety of utility leadership roles including regional president of Ohio Edison; vice president, Distribution Support; and senior vice president, FirstEnergy Utilities. He was elected senior vice president and chief financial officer in 2018.
About Christopher Pappas
Pappas is the retired President and Chief Executive Officer of Trinseo S.A., a producer of plastics, latex and rubber. He served in this role from 2010 to 2019, and transitioned to the role of special advisor at Trinseo S.A., effective 2019. Pappas retired from Trinseo S.A. in May of 2019 and remained on the Trinseo S.A. board until his retirement in October 2020. Prior to Trinseo, he served in various leadership capacities at NOVA Chemicals Corporation, Dow Chemical, and DuPont Dow Elastomers. His extensive executive and board experience has equipped him with leadership skills and the knowledge of board processes and functions. Additionally, Pappas' general corporate decision-making and senior executive experience provides a useful background for understanding the operations of FirstEnergy. Pappas served as a director for Allegheny Energy, Inc., from 2008 through FirstEnergy's acquisition of Allegheny Energy in February 2011. He has been a director of FirstEnergy since September 2011 and also serves as a director and independent chairman of Univar Inc., a chemical distributor and provider.
Company Updates Time of Third Quarter Earnings Webcast
FirstEnergy will release financial results for the third quarter and first nine months of 2020 as planned before markets open on Monday, November 2. The conference call with financial analysts to discuss these results has been moved, and will take place at 9 a.m. EST that day.
Investors, customers and other interested parties are invited to listen to a live webcast of the call and view presentation slides via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its third quarter presentation and supporting materials to the investor section of the website before markets open on November 2.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
News Media Contact: | Investor Relations Contact: |
Jennifer Young | Irene Prezelj |
(216) 337-8789 | (330) 384-3859 |
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 28, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has received approval of a settlement in its base rate case from the New Jersey Board of Public Utilities (BPU) that will help build on service reliability enhancements made by the utility in recent years and allow the company to recover costs incurred to restore power to customers following severe storms.
Even with the $94 million increase in its base rates, JCP&L customers will continue to pay the lowest residential electric rates among New Jersey's four regulated electric distribution companies. Investments will include additional tree trimming as well as service reliability projects that will benefit customers by hardening and modernizing the electric system. It also allows JCP&L to recover the cost of investments made since January 2016 to strengthen the electric system to meet reliability standards set by the BPU.
"This agreement helps us deliver on our commitment to keeping the lights on for our customers, enhancing service reliability and supporting the safe and timely response to power outages caused by severe weather events," said Jim Fakult, president of JCP&L. "To give families and businesses more time to adjust to the challenges created by the coronavirus pandemic, bills will remain unchanged in the near-term and the new rates will be applied to bills in November 2021."
When the new base rate is applied next November, a typical residential customer using an average of 768 kilowatt-hours (kWh) per month will see an overall increase of $4, or approximately four percent, for an average monthly bill of about $104.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following (see Glossary of Terms for definitions of capitalized terms): the extent and duration of the novel coronavirus (known as COVID-19) and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; the risks and uncertainties associated with the ongoing federal criminal investigation of Ohio House Speaker Larry Householder for which we have received subpoenas; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
READING, Pa., Oct. 28, 2020 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), plans to complete installation of more than 160 automated "TripSaver" reclosing devices on power lines across its service area in 2020 to help limit the frequency, duration and scope of service interruptions.
The electrical devices work like a circuit breaker in a home with the added benefit of automatically re-energizing a power line within seconds to keep power safely flowing to customers. Met-Ed crews and contractors are scheduled to install TripSavers in Boyertown, Easton, Hanover, Lebanon, Reading, Stroudsburg and York in 2020.
The $1.4 million project is part of Met-Ed's Long-Term Infrastructure Improvement Plan (LTIIP II), a $153 million initiative to accelerate capital investments through 2024 to help ensure continued electric service reliability for the company's approximately 570,000 customers.
Utility crews install TripSavers on local neighborhood distribution lines that branch from the main power line serving an area. When there is a temporary problem with the line, such as a tree limb contacting the line, the TripSaver can sense when the branch is gone and automatically re-energize the line to prevent an extended outage in the neighborhood – all in a matter of seconds.
If the TripSaver senses a more serious issue, such as a fallen tree on the power line, it will isolate the outage to that area and limit the total number of affected customers. The device's smart technology quickly pinpoints the location of the electrical fault and helps utility personnel better understand the cause of the outage to help speed restoration.
"TripSavers allow us to automatically restore service to customers rather than send a truck and a line crew to investigate the issue, which is especially useful in more remote areas of our widespread service territory," said Linda Moss, regional president of Met-Ed. "These devices allow for safer and more efficient service restoration for both our employees and our customers."
Reliability engineers review outage information to identify the best locations for the devices, typically outage-prone distribution lines with large customer counts. A two-man crew can install four or five TripSavers per day.
Met-Ed serves approximately 570,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of crews installing the TripSaver devices are available for download on Flickr, and a video of utility personnel explaining and installing a TripSaver device can be found on YouTube.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 26, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), supported the cleanup of New Jersey's beaches on October 24 by participating in Clean Ocean Action's (COA) fall 2020 Beach Sweeps, serving as site sponsor for cleanup work at Belmar's 16th Avenue Beach in Monmouth County.
"This marks the company's fourth consecutive year of participating in the Beach Sweeps, and we're proud to be part of yet another great cleanup effort," said JCP&L President Jim Fakult. "The work is a testament to our commitment to protecting the spectacular beaches of New Jersey as well as the fish and wildlife population across our service territory."
JCP&L employees, including members of its environmentally-focused Green Team, joined dozens of volunteers from FirstEnergy's Employee Business Resource Groups (EBRGs) in the cleanup activities. The company's EBRGs help support diversity and inclusion initiatives and business objectives through networking, mentoring, coaching, recruiting, development and community outreach.
Because of its continued focus on environmental awareness and sustainable practices and policies, JCP&L is a member of the New Jersey Sustainable Business Registry. The company is the only electric utility on the list of more than 150 New Jersey companies and organizations recognized for environmental leadership efforts.
Now in its 35th year, COA Beach Sweeps is one of the longest-running beach cleanups of its kind in the world, helping to rid beaches of unsightly and harmful debris. Each year, volunteers clean beaches in New Jersey from Raritan to Delaware Bays, as well as underwater sites. Since the program's inception in 1985, more than 144,000 volunteers have participated, removing millions of pieces of debris from New Jersey's beaches and waterways.
JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's note: Photos of JCP&L employees and volunteers assisting with the Beach Sweeps cleanup activities can be viewed on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 23, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), and the FirstEnergy Foundation recently donated a total of $65,000 to 13 local police chiefs associations throughout JCP&L's service territory in recognition of their key role in keeping communities safe around downed power lines and other electrical equipment. The funding will be used to help offset the cost of providing extra protection following major storm events as well as for emergency response training and the purchase of much needed equipment.
The donations benefit the local police chiefs association chapters in Essex, Hunterdon, Morris, Passaic, Somerset, Sussex, Union, Burlington, Mercer, Middlesex, Monmouth, Ocean and Warren counties, which include more than 230 towns within JCP&L's service territory.
"A police officer's fundamental duty is to protect and serve their community," said Jim Fakult, president of JCP&L. "These donations serve to highlight our appreciation to the police officers who work diligently to provide a safe environment by keeping residents far away from downed power lines and protecting our utility workers as they safely restore power following severe weather events."
The support provided by law enforcement was critical during the recent Tropical Storm Isaias, which brought high winds that caused extensive power outages across JCP&L's service territory. More than 8,000 line workers, including other FirstEnergy crews and mutual assistance from 17 states, helped restore power to JCP&L customers. The massive restoration effort was made possible in part by local police departments that helped enforce road closures and protect the community from electrical hazards resulting from downed wires, utility poles and large trees.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 20, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the third quarter and first nine months of 2020 before markets open on Monday, November 2. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 1 p.m. EST that day. 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 slides via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its third quarter presentation and supporting materials to the investor section of the website before markets open on November 2.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Oct. 15, 2020 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), recently completed enhancements to its local electric lines in south Morgantown, W. Va., that are designed to help reduce the number of customers impacted by outages by more than 400. The company also is starting work on a similar project that aims to enhance operational flexibility and reliable service for 900 customers in the Fairmont area.
Over the past two months, Mon Power has been working south of the interchange between Interstates 68 and 79 in Morgantown to add a new power line connecting approximately 440 residential customers in the Goshen Road area to an alternate circuit. The project, which included the replacement of more than 40 utility poles, provides a backup power feed that will help keep the lights on for customers if wires or equipment on their regular line are damaged or need to be taken out of service.
"Through projects such as these, we improve the operational flexibility of our system and help reduce the duration and frequency of service interruptions our customers might experience," said Jim Myers, president of West Virginia operations for FirstEnergy.
In Fairmont, Mon Power is starting work on a similar project that will connect approximately 900 residential customers in southeastern Marion County to an alternate line that serves the central and eastern portions of the county. The project is expected to be complete by the end of the year and will allow Mon Power to provide power to those customers during certain outages until repairs are completed on their circuit. The project will benefit customers in Colfax, Hammond, Levels, Grassy Run, Quiet Dell, Bunners Ridge, Morgan Ridge and Little Creek.
The Morgantown and Fairmont projects each cost approximately $250,000 and are part of Mon Power's ongoing commitment to enhance service to its customers while also preparing its system for future economic growth.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
WARREN TOWNSHIP, N.J., Oct. 6, 2020 /PRNewswire/ -- A newly energized substation played an important role in providing and restoring power to Jersey Central Power and Light (JCP&L) customers in the wake of Tropical Storm Isaias. The Martinsville Substation, which went into service in June, significantly decreased the number of customers affected by a tree-related power outage as the storm impacted New Jersey.
Located in Warren Township, the Martinsville Substation increases the operational flexibility of the electric system by creating multiple paths to provide power to surrounding substations. As a result, power remained available throughout the storm to local substations serving more than 1,000 customers in Warren Township and nearly 5,000 customers in Bernards Township, Bridgewater Township and Bedminster. Without the new substation, a similar outage could have resulted in a lengthy service interruption to up to 9,200 customers in the area.
The substation also allowed JCP&L to work more quickly and effectively in restoring power to customers by enabling crews to begin repairs on other infrastructure.
"JCP&L remains committed to service reliability, and we continue to proactively plan infrastructure investments to enhance the strength of the electric system," said Jim Fakult, president of JCP&L. "The Martinsville Substation is an example of how infrastructure investments can continue to reduce the number of customers impacted by storm outages as well as shorten the length of outages when they do occur."
Part of FirstEnergy's Energizing the Future transmission investment initiative, construction on the Martinsville Substation began in October 2019. The substation is part of the JCP&L transmission infrastructure that routes power to six area substations in Morris and Somerset counties, serving customers throughout northern New Jersey.
JCP&L, a subsidiary of FirstEnergy Corp. (NYSE:FE), serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 5, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has been named by Site Selection magazine as a "Top 20" utility in 2020 for expertise in promoting economic development. Over the past five years, FirstEnergy has helped attract over 30,000 new jobs and $17.5 billion in third-party capital investment in its six-state service area.
The Site Selection award winners were chosen from a field of more than 3,300 electric utilities and cooperatives across the country. The recipient utilities were recognized for complementing reliable power delivery to their customers with a hands-on approach to encouraging business development in their operational areas.
"We take great pride in being recognized by Site Selection magazine for our results-oriented approach to promoting job creation and third-party capital investment in our footprint," said Patrick Kelly, director, Economic Development, FirstEnergy. "Because our utilities have relationships with so many different businesses, we have the unique ability to build partnerships among state and local organizations, businesses and governments and effectively use innovative ideas to help promote the areas where we provide electric service."
FirstEnergy's economic development team regularly provides the following services for companies looking to locate or expand in its footprint:
Kelly says the best economic development assistance his team can provide is being an active liaison with FirstEnergy's ten utilities, especially when it comes to ensuring the local grid can handle the added electrical usage any new projects produce. Quite often, new infrastructure such as a substation or power line needs to be built to ensure safe and reliable service to the new or expanded facility.
Along with expertise in business development relationships and programs, the company is investing in transmission system enhancements and grid modernization to provide world-class infrastructure capable of powering energy-intensive industries now and in the future.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 2, 2020 /PRNewswire/ -- To help kick start a successful school year, FirstEnergy Corp. (NYSE: FE) is donating school supplies to nearly 11,400 Akron Public School students in kindergarten through sixth grades. Backpacks pre-packed with school supply items will be available to all students who attend the district's 41 elementary schools during a drive-through event at North and Kenmore-Garfield High schools on Sunday, October 4, from 1 p.m. to 4 p.m.
Assembled by FirstEnergy volunteers, the cinch-style backpacks contain items approved by the school district to help students successfully continue their school year from home. The supplies, several of which were purchased from diverse suppliers to support minority-owned businesses, include notebook paper, folders, glue, pencils, sharpener, hand sanitizer and a dry erase board, marker and eraser.
FirstEnergy's donation fills a gap created when the coronavirus health emergency caused the cancellation of the area's annual "Stuff the Bus" program presented by the United Way of Summit and Medina. Working with Akron Public Schools, FirstEnergy employees gathered and packaged the items and arranged for a safe, limited-contact distribution.
"I'm proud of our FirstEnergy employees who identified a need to support our youth during a time that has brought unprecedented challenges to many families in our area," said Lorna Wisham, vice president, Corporate Affairs and Community Involvement. "We hope this makes things just a bit easier for Akron families as their children continue the school year."
More than 5,000 cars are expected to pass through the pick-up points at North and Kenmore-Garfield High Schools on Sunday, and the METRO bus service will provide free travel to and from the event between the hours of noon and 5 p.m. for those families without vehicles. In addition, Akron Public Schools have arranged to provide backpacks to students who are without permanent homes.
"From our corporate partners and volunteers to the local businesses and public transit system supporting this event, it's heartwarming to see the community come together to ensure our students receive the tools they need for a quality learning experience," said David James, superintendent of Akron Public Schools. "This school year may not look like the typical year yet, but we're committed to making the virtual learning environment as educational and rewarding as any other."
FirstEnergy is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 1, 2020 /PRNewswire/ -- For the second consecutive year, FirstEnergy Corp. (NYSE: FE) has been recognized by the National Organization on Disability (NOD) as a top employer in the nation for its hiring and employment practices for people with disabilities.
FirstEnergy is among 68 organizations to receive the NOD Leading Disability Employer Seal in 2020. Now in its sixth year, the seal is awarded based on data provided by companies who complete NOD's Disability Employment Tracker™, an assessment that benchmarks companies' disability inclusion programs in areas like Climate & Culture, People Practices, Talent Sourcing, Workplace & Technology and Strategy & Metrics. Organizations that complete the tracker may elect to be considered for the NOD Leading Disability Employer Seal.
"We are proud to be named a Leading Disability Employer again this year in recognition of our efforts to create an inclusive work environment where all employees feel respected and that their input is valued," said Christine L. Walker, FirstEnergy's senior vice president and chief human resources officer. "We'll continue to find ways to enhance our recruiting, hiring and talent development processes, and the NOD Disability Employment Tracker is key to measuring our progress."
FirstEnergy's THRIVE employee business resource group (EBRG), which serves as a resource to employees with disabilities and major illnesses, has played a significant role in fostering an inclusive environment by increasing awareness about disabilities across the company. Specifically, the group has held "Day in the Life" events where employees could participate in simulations to experience first-hand what it's like to have a hearing impairment, physical challenge and other disabilities. The group continues to host virtual lunch and learns to promote open discussion among employees and provides feedback to leadership on how the company can further advance disability inclusion.
"America's success in the world depends on how well we inspire and put to use the talents and energies of every person in this country," said NOD Chairman Governor Tom Ridge. "These 68 organizations certainly have stepped up and are doing just that, and we applaud their leadership and thank them for their commitment to hiring people with disabilities."
The NOD Leading Disability Employer designation is among the recognition FirstEnergy has received for its workforce diversity and inclusion initiatives this year. Most recently, FirstEnergy was named to DiversityInc's Top Utilities and Top Companies for Board of Directors lists. FirstEnergy was also named to Forbes magazine's Best Employers for Diversity 2020 list, as well as to the Bloomberg Gender-Equality Index (GEI) for the second consecutive year.
The National Organization on Disability is a private, non-profit organization that seeks to increase employment opportunities for the 80 percent of working aged Americans with disabilities who are not employed. To achieve this goal, NOD offers a suite of employment solutions, tailored to meet leading companies' workforce needs. To learn more about NOD and view the list of Leading Disability Employers, visit www.NOD.org.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter: @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
Editor's Note: Photos of employees participating in THRIVE's 2019 Day in the Life event are available on Flickr. A video of the event is available on YouTube.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 30, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has been honored with the 2020 Commerce and Industry Association of New Jersey's (CIANJ) Companies that Care award for a donation made in conjunction with FirstEnergy Foundation to Lake Riviera Middle School in Brick Township. The funds allowed the school to purchase a greenhouse that is being used to grow food for the school's culinary arts program as well as for donation to local food banks.
CIANJ's Companies That Care award salutes the generosity of New Jersey businesses who demonstrate meaningful philanthropy that is impacting the communities they serve. The award was presented by CIANJ and COMMERCE Magazine at their annual Best Practices Conference held virtually on September 30.
"JCP&L continues to be a strong supporter of the local communities we serve, and we are humbled to be recognized for these efforts," said Jim Fakult, president of JCP&L. "We applaud the students and staff at Lake Riviera Middle School for their focus on environmental education while helping to put food on the tables of local families who need it the most."
Construction of the greenhouse is part of the school's Green Team energy conservation project, which helps students connect to science, math, social studies and language arts as well as the practical, performing and visual arts through hands-on learning for all levels of learners.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 30, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today issued a Request for Proposal (RFP) to purchase Ohio-compliant Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, The Illuminating Company and Toledo Edison. The purchases will help meet the companies' 2020 renewable energy targets established under Ohio's alternative energy law.
RECs sought in this RFP must be eligible for compliance with the companies' 2020 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS), and generated between January 1, 2018, and December 31, 2020. The companies plan to purchase 373,000 RECs, which can include solar renewable energy credits.
One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from utility customers through a monthly charge filed quarterly with the PUCO.
No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their REC generating facilities are certified or in the process of becoming certified by the PUCO.
The RFP is a competitive process managed by Guidehouse Inc. (Guidehouse), an independent evaluator and a global consulting firm with expertise in energy markets, renewables and competitive procurements. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs.
FirstEnergy's Ohio utilities have a website, http://www.FEOhioRECRFP.com, to provide bidders with a central source of documents, data and other information for the RFP process.
On October 8, 2020, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, Guidehouse, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website.
To participate in the RFP, potential bidders are encouraged to submit credit applications by November 2, 2020, and proposals are due November 10, 2020 by 5 p.m. EPT.
The RFP Manager is Dan Bradley, Partner at Guidehouse. He can be reached via e-mail at manager@FEOhioRECRFP.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Sept. 29, 2020 /PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), recently submitted filings with the Public Service Commission (PSC) of West Virginia that are expected to lower electric rates by $50 million in 2021.
Under a cost recovery process established by the PSC in 2007, Mon Power and Potomac Edison customer bills are adjusted annually to reflect increases or decreases in the cost of fuel used to generate electricity and purchased power. This year's filing reflects a $55 million reduction in these costs, a savings passed to customers.
If approved by the PSC, the monthly bill for the companies' typical West Virginia residential customer using 1,000 kilowatt-hours (kWh) of electricity would decrease by 3 percent or $3.24/month, dropping an average bill to $103.62 from the current $106.86.
With the decrease, rates for Mon Power and Potomac Edison's West Virginia residential customers will be about 22 percent below the national average.
The 2021 residential customer bills also would reflect the impact of a second filing seeking to recover about $5 million in costs associated with modernizing the boilers at the companies' Fort Martin and Harrison coal-fired power plants in West Virginia to help ensure continued environmental compliance. The work includes updating existing emissions control equipment, enhancing particulate control systems, and replacing flue-gas removal ductwork and expansion joints.
"These filings continue a trend that has resulted in the rates for our West Virginia utilities being reduced by about $120 million since 2018," said Jim Myers, president of FirstEnergy's West Virginia operations. "With electrical use increasing more from time being spent at home during the coronavirus health emergency, any opportunity to save on electric bills is helpful for our customers. We are committed to providing safe and reliable electricity at an affordable cost."
If approved by the PSC, the new rates would begin Jan. 1, 2021, and remain in place until Dec. 31, 2021.
To help customers manage their bills, Mon Power and Potomac Edison offer budget plans, special payment plans, and access to energy assistance programs. For home energy efficiency tips, customers can go to www.firstenergycorp.com or call the Customer Service Center at 1-800-255-3443 to request information.
Mon Power serves about 385,000 customers in the northern half of West Virginia and Potomac Edison serves about 140,000 customers in the state's Eastern Panhandle. Follow the companies on Twitter @MonPowerWV and @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
NEW YORK, Sept. 28, 2020 /PRNewswire/ -- Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of FirstEnergy Corp. (NYSE: FE) between February 21, 2017 and July 21, 2020, inclusive (the "Class Period"), of the important September 28, 2020 lead plaintiff deadline in the case. The lawsuit seeks to recover damages for FirstEnergy investors under the federal securities laws.
To join the FirstEnergy class action, go to http://www.rosenlegal.com/cases-register-1903.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) FirstEnergy and its representatives and affiliates had orchestrated a $60 million campaign to corrupt the political process in order to secure the passage of legislation favoring the Company and its affiliates; (2) FirstEnergy and its representatives and affiliates had secretly funneled tens of millions of dollars to Ohio politicians to bribe those politicians in order to secure votes in favor of Ohio House Bill 6 ("HB 6"), a $1.3 billion ratepayer bailout for FirstEnergy's unprofitable nuclear facilities; (3) FirstEnergy and its representatives and affiliates had conducted a massive, misleading advertising campaign in support of HB6 and in opposition to a ballot initiative to repeal HB6 by passing millions of dollars through an intricate web of 'dark money' entities and front companies in order to conceal the Company's involvement; (4) FirstEnergy and its representatives and affiliates had subverted a citizens' ballot initiative to repeal HB6 by, among other unscrupulous tactics, hiring more than 15 signature gathering firms (and thus conflicting them out of supporting the initiative) and bribing ballot initiative insiders and signature collectors; (5) as a result of the foregoing, defendants' Class Period statements regarding FirstEnergy's regulatory and legislative efforts were materially false and misleading; and (6) as a result of the foregoing, FirstEnergy was subject to an extreme, undisclosed risk of reputational, legal and financial harm. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 28, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-1903.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR'S ABILITY TO SHARE IN ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD PLAINTIFF.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm's attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors. Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
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SOURCE Rosen Law Firm, P.A.
AKRON, Ohio, Sept. 24, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has earned recognition from the Edison Electric Institute (EEI) for excellence in providing superior service to multisite National Account customers, such as big-box retailers and major restaurant chains.
The award, announced September 9, is based on votes cast by large national customers representing a wide variety of industries, including national brands such as Costco, The Home Depot, Marriott Hotels, Microsoft, Staples, Target, TJX Companies, and Walmart.
"We offer our national account customers a 'one-stop shop' for quick and efficient support with energy efficiency education, power quality inquiries, billing or metering questions," said Samuel Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "This represents the fifth time FirstEnergy has been honored by EEI for the service we provide our key national accounts, and it is rewarding to know our strong efforts continue to be recognized by customers and the utility industry alike."
FirstEnergy serves more than 200 national brands including retailers, restaurants and other industries, representing tens of thousands of electric meters in the company's six-state footprint.
The awards for Outstanding National Key Account Customer Service were established by EEI's Customer Advisory Group, composed of national chain customers who provide feedback, guidance and support to EEI's National Key Accounts program. The customer-oriented program allows multisite customers and electric company account representatives to develop efficient energy management strategies that can be integrated into facilities nationwide.
EEI is the association that represents all U.S. investor-owned electric companies. Members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition, EEI has more than 60 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 22, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that 100% of new fleet purchases of aerial and light duty trucks will be electric or hybrid vehicles beginning in 2021. Transitioning its vehicle fleet to these cleaner-powered options is part of FirstEnergy's larger efforts to reduce Greenhouse Gas (GHG) emissions companywide and support transportation electrification efforts in its six-state service area.
Through this commitment to steadily replace fossil fuel-based vehicles, including utility bucket trucks, small pickups, SUVs and other support vehicles, FirstEnergy expects to electrify 30% of its approximately 3,400 light duty and aerial fleet vehicles by 2030, representing 1,034 vehicles, with the goal of reaching 100% electrification by 2050. The 30% fleet replacement target has the potential to annually eliminate approximately 10,000 metric tons of GHG emissions while saving more than 3.8 million gallons of fuel from 2021-2030.
"This is an important step in our larger, company-wide responsible replacement program that allows us to replace vehicles in need of replacing with electric models that can be added to our utility fleet without affecting the service we provide our customers," said Steven E. Strah, president, FirstEnergy. "A team of employees tested versions of the hybrid vehicles in the field and determined we could get comparable operational benefits while substantially reducing emissions. We believe our efforts to lead by example in this area will help spur customer adoption of electric vehicles in the coming years."
Because fully electric aerial trucks are still under development, some of the new hybrid vehicles will feature plug-in idle mitigation units powered by battery packs for the lift or bucket, along with operating the truck's heating and air conditioning systems. These hybrid aerial trucks significantly reduce the amount of time the diesel engine operates, which also reduces air and noise pollution. Truck manufacturers estimate that utility vehicles idle in park for about 65% of their total engine hours, and an hour of engine idle is equivalent to using one gallon of fuel.
FirstEnergy's vehicle replacement process is based on the number of miles and the age of the current vehicles. Starting in 2021, hybrid light duty vehicles, such as pickup trucks, vans and SUVs, will be delivered to all FirstEnergy utilities, including Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Met-Ed, Penelec, Penn Power and West Penn Power in Pennsylvania; Mon Power in West Virginia; Potomac Edison in West Virginia and Maryland; and Jersey Central Power & Light (JCP&L) in New Jersey. The plan is to increase all-electric light duty purchases as the charging infrastructure develops. Orders for the hybrid aerial trucks also have been placed and are expected to arrive next summer in the majority of FirstEnergy utility areas.
Part of FirstEnergy's vehicle replacement process includes a previously announced purchase agreement with Lordstown Motors, a start-up electric vehicle manufacturer in northeast Ohio, for 250 new all-electric pickup trucks.
In addition to taking steps to electrify the company's fleet, one of FirstEnergy's utilities, Potomac Edison, has implemented a pilot program in Maryland to promote electric vehicle usage and adoption by its customers. Earlier this year, the EV Driven program was launched and features the installation of publicly available electric vehicle (EV) charging stations, rebates for both residential and multifamily charger installations, and incentives for EV charging during off-peak hours. The program was approved by the Maryland Public Service Commission.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: The extent and duration of COVID-19 and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; risks and uncertainties associated with the ongoing government investigation regarding Ohio House Bill 6 and related matters; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 21, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has launched its new "Stop. Look. Live." safety campaign to educate the public about staying safe around electricity and near FirstEnergy's power lines and equipment.
The campaign encourages everyone to follow three simple steps to avoid dangerous accidental contact with electrical equipment:
The campaign kicks off this week and will feature engaging and memorable initiatives to help protect targeted groups that are most at-risk of encountering safety hazards, including first-responder organizations and contractors. In addition, the campaign will feature an educational program for school children between kindergarten and 6th grade.
"At FirstEnergy, safety is a core value, and our public safety campaign is a reflection of this daily focus, extending beyond our employees and into our communities," said Laura Redenshek, director, Safety and Human Performance. "Sharing information about electrical safety is part of our broader personal commitment to working safely, following all safe work practices and recognizing that we have the power to keep each other safe."
The company-wide educational and outreach initiatives include:
Programs launching in the future will include "Live Wire Safety Trailer" demonstrations to help educate first responders about the potential dangers of energized electrical equipment. The large trailers will feature power lines, transformers and other electric equipment as well as metal conductors, such as ladders and car doors. Demonstrations will include energizing conductors to show how electricity can travel through everyday objects.
In addition, FirstEnergy employee volunteers will visit grade schools throughout the company's service territory to present "Live Wire Safety School" which includes a safety video featuring Max Safety, FirstEnergy's fictional employee spokesperson whose mission is to minimize danger and maximize safety.
For more information about FirstEnergy's public safety campaign, including safety tips, the Max Safety school educational video and updates on upcoming educational programs, visit www.firstenergycorp.com/publicsafety.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 18, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utilities have sent 190 line workers and support personnel to Mobile, Alabama, to assist Alabama Power with restoration efforts following Hurricane Sally. Crews began leaving for Alabama Thursday, with all expected to begin work Saturday morning.
Hurricane Sally made landfall Wednesday on the Gulf Coast as a Category 2 storm, with sustained winds of 100 mph. Heavy rain also has produced flooding in many areas, with many roads and bridges closed or impassable.
This support effort continues FirstEnergy's long-standing tradition of assisting other electric companies during large-scale power outages. FirstEnergy crews recently returned home after providing power restoration assistance to utilities in Texas and Louisiana following Hurricane Laura in late August.
Nine of FirstEnergy's utilities are part of the Alabama mutual assistance effort, which includes crews from Ohio Edison and Toledo Edison in Ohio; Penelec, West Penn Power, Penn Power and Met-Ed in Pennsylvania; Mon Power in West Virginia; Potomac Edison in West Virginia and Maryland; and Jersey Central Power & Light (JCP&L) in New Jersey. Support personnel from FirstEnergy's corporate offices also are included in the company's contingent.
"FirstEnergy employees are committed to assisting with restoration efforts in Alabama as a way of returning the favor to Alabama utility crews that provided assistance in August when we needed help in New Jersey after Tropical Storm Isaias," said John Skory, vice president of utility operations for FirstEnergy. "While it's not expected that the remnants of Hurricane Sally will impact any FirstEnergy service territories, we have carefully assessed conditions and are confident we have the personnel in place to maintain reliable operations for our customers."
FirstEnergy is a member of multiple electric utility mutual-assistance groups that work cooperatively to restore service to customers when a natural disaster causes large-scale power outages. Mutual assistance allows utilities to pool their resources to help restore power to customers faster. In August, more than 8,000 utility personnel from 17 states, including crews from Alabama Power, helped restore power to approximately 788,000 JCP&L customers following Tropical Storm Isaias. In the past, FirstEnergy and its employees have been honored by the Edison Electric Institute (EEI) with its "Emergency Assistance Award" for the mutual assistance the company has provided during winter and summer storms.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 15, 2020 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 39 cents per share of outstanding common stock. The dividend will be payable December 1, 2020, to shareholders of record at the close of business on November 6, 2020.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: The extent and duration of COVID-19 and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; risks and uncertainties associated with the ongoing government investigation regarding Ohio House Bill 6 and related matters; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Sept. 9, 2020 /PRNewswire/ -- West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), plans to install thousands of new fuses on its distribution lines during the next five years to reduce the number of customers affected by service interruptions caused by severe weather, tree contacts, equipment issues and other causes.
The work is part of West Penn Power's Long-Term Infrastructure Improvement Plan (LTIIP II), a $147 million initiative to accelerate capital investments through 2024 to help ensure continued electric service reliability for the company's 725,000 customers. Approximately $21 million of the initiative is expected to be spent on the fuse work.
In 2020, West Penn Power line workers and contractors expect to install between 6,000 and 7,500 new fuses on distribution poles and wires throughout its service area. Fuses are protective devices made of polymer that automatically open when a system irregularity is detected, protecting electrical equipment while limiting the scope of an outage to a smaller section of the distribution line. Use of fuses means fewer customers are impacted by outages caused by trees, vehicle accidents or equipment issues.
"Our eventual goal is to install enough new fuses to separate distribution lines into smaller blocks of 30 to 35 customers," said John Rea, West Penn Power regional president. "Some longer circuits may be equipped with several hundred fuses, limiting the number of customers affected by an outage."
It typically takes a two-person crew about an hour to install a new fuse. Using personal protective equipment and rubber goods to cover energized facilities, crews can often safely accomplish the work without having to schedule a planned outage that interrupts service to customers.
In 2020, fuse installations will occur in numerous locations across West Penn Power's service area, including work on:
The LTIIP II fuse installation projects are a continuation of similar work completed during the company's initial 2016-2020 LTIIP. As a result of fuse installation projects implemented during that time, the average number of West Penn Power customers impacted per power outage decreased by more than 10 percent.
West Penn Power serves approximately 725,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of West Penn Power crews installing the fuses are available for download on Flickr
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Aug. 28, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), recently donated more than 83,000 pounds of food items to 10 food banks and religious organizations in New Jersey and Pennsylvania following Tropical Storm Isaias. The items had been purchased to feed thousands of utility workers who assisted in restoring service to approximately 800,000 customers after the storm severely impacted the region.
JCP&L's donation was supplemented by an additional FirstEnergy Foundation contribution of $50,000 to benefit food banks in the region.
Delivery of fresh vegetables, beverages, dairy products, meats and frozen goods from JCP&L staging site locations to organizations in Monmouth, Ocean, Union, Morris, Sussex, Hunterdon and Warren counties in New Jersey and North Hampton County in Pennsylvania was completed on August 17. The donation of approximately $71,000 worth of food can provide approximately 100,000 meals for families in need. Combined with the FirstEnergy Foundation donation, area food banks received more than $120,000 in local community support from the company following Tropical Storm Isaias recovery efforts.
"Our storm restoration efforts require a massive operation behind the scenes to support workers who come to New Jersey to help restore service to our customers," said Jim Fakult, President, JCP&L. "We are pleased to be able to use the surplus resources from our staging sites and the donation from the FirstEnergy Foundation to help local families put food on their tables during these difficult times."
The following organizations received food items donated by JCP&L:
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's note: Photos of JCP&L employees helping deliver food contributions can be viewed on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 26, 2020 /PRNewswire/ -- As part of its long-standing tradition of assisting other electric companies during large-scale power outages, FirstEnergy Corp. (NYSE: FE) utilities have sent more than 525 line workers, forestry crews and support personnel to Beaumont, Texas, to help Entergy with restoration efforts following Hurricane Laura. Crews began leaving for Texas Wednesday morning, with all expected to arrive by early Friday.
Current forecasts call for Hurricane Laura to make landfall in Texas and Louisiana this evening. The category 4 hurricane is expected to bring extreme winds, storm surge and flash flooding along the northwest Gulf Coast. Personnel will be deployed to the most damaged areas when it's safe to do so after the storm moves through.
Eight of FirstEnergy's utilities are part of the mutual assistance effort, which includes crews from The Illuminating Company and Toledo Edison in Ohio; Penelec, West Penn Power and Met-Ed in Pennsylvania; Mon Power in West Virginia; Potomac Edison in West Virginia and Maryland; and Jersey Central Power & Light (JCP&L) in New Jersey. Support personnel from FirstEnergy's corporate offices also are included in the company's contingent.
"FirstEnergy employees are committed to assisting what is likely to be a massive power restoration effort in Texas," said John Skory, vice president of utility operations for FirstEnergy. "While it's not expected that Hurricane Laura will impact any FirstEnergy service territories, we have carefully assessed conditions and are confident we have the personnel in place to maintain reliable operations for our customers."
FirstEnergy is a member of multiple electric utility mutual-assistance groups that work cooperatively to restore service to customers when a natural disaster causes large-scale power outages. Mutual assistance allows utilities to pool their resources to help restore power to customers faster. Earlier this month, more than 8,000 utility personnel from 17 states, including crews from Entergy, helped restore power to approximately 788,000 JCP&L customers following Tropical Storm Isaias. In the past, FirstEnergy and its employees have been honored by the Edison Electric Institute (EEI) with its "Emergency Assistance Award" for the mutual assistance the company has provided during winter and summer storms.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 26, 2020 /PRNewswire/ -- The FirstEnergy Foundation has granted $27,000 to the Western Reserve Land Conservancy to benefit a conservation project at Chagrin River Landing in Eastlake, Ohio. Upon completion, the 10-acre property and former marina located on Lake Shore Boulevard will be used as a public access park for handicap accessible fishing, canoeing and kayaking to the Chagrin River and Lake Erie.
The Foundation's grant is the last piece in a campaign to raise funds which will help the Land Conservancy meet the project's total goal of $386,000. Work on the project is expected to begin this fall.
"FirstEnergy Foundation is proud to support the Land Conservancy's effort to restore this area into a beautiful and functional space for the community," said Lorna Wisham, President, FirstEnergy Foundation. "In addition to providing new recreational opportunities for area residents and visitors, the park aligns with the electric industry's goal of creating habitats that promote pollinators and support the environment."
As part of the project, the City of Eastlake will demolish the existing house on-site, remove more than 20 vacant boats from the property and work with conservation partners, including the Land Conservancy and Chagrin River Watershed Partners, to restore the boat yard back to natural floodplain habitat. The city will also work with conservation partners to clean up the property, plant trees, establish a habitat for pollinators through native plantings and remove invasive species.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
ERIE, Pa., Aug. 24, 2020 /PRNewswire/ -- The Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), plans to install about 2,000 automated "TripSaver" reclosing devices on power lines across its service area over the next five years to help limit the frequency, duration and scope of service interruptions. The electrical devices work like a circuit breaker in a home with the added benefit of automatically re-energizing a power line within seconds to keep power safely flowing to customers.
The company is on track to install about 400 TripSavers in 2020 at a cost of about $3.5 million. A two-man crew can install four or five TripSavers per day.
The work is part of Penelec's Long Term Infrastructure Improvement Plan (LTIIP II), a $200 million initiative to accelerate capital investments through 2024 to help ensure continued electric service reliability for the company's 585,000 customers.
Utility crews install TripSavers on local neighborhood distribution lines that branch from the main power line serving an area. When there is a temporary problem with the line, such as a tree limb contacting the line, the TripSaver can sense when the branch is gone and automatically re-energize the line to prevent an extended outage in the neighborhood – all in a matter of seconds.
If the TripSaver senses a more serious issue, such as a fallen tree on the power line, it will isolate the outage to that area and limit the total number of affected customers. The device's smart technology quickly pinpoints the location of the electrical fault and helps utility personnel better understand the cause of the outage to help speed restoration.
"TripSavers allow us to automatically restore service to customers rather than roll a truck and crew to investigate the issue, which is especially useful in remote areas of our expansive service territory," said Nick Austin, regional president of Penelec. "These devices allow for safer and more efficient service restoration for both our employees and our customers."
Reliability engineers review outage information to identify the best locations for TripSavers, typically outage-prone distribution lines with large customer counts. The new devices will also replace some older equipment in the field used to isolate damage and limit the number of impacted customers.
Penelec crews and contractors are scheduled to install TripSavers in these areas in 2020:
Albion, Altoona, Bedford, Bradford, Clearfield, Corry, Dubois, Ebensburg, Erie, Huntingdon, Indiana, Johnstown, Lewistown, Mansfield, Meadville, Montrose, Oil City, Phillipsburg, Sayre, Shippensburg, Towanda and Warren.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of crews installing the TripSaver devices are available for download on Flickr, and a video of utility personnel explaining and installing a TripSaver device can be found on YouTube.
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SOURCE FirstEnergy Corp.
NEW YORK, Aug. 22, 2020 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against FirstEnergy Corporation ("FirstEnergy" or the "Company") (NYSE: FE) and certain of its officers. The class action, filed in United States District Court for the S, and indexed under 20-cv-06896, is on behalf of a class consisting of all persons and entities other than Defendants who purchased or otherwise acquired FirstEnergy securities between February 21, 2017, and July 21, 2020, inclusive (the "Class Period"). Plaintiff seeks to pursue remedies against FirstEnergy and certain of the Company's current and former most senior executives under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), and Rule l0b-5 promulgated thereunder.
If you are a shareholder who purchased FirstEnergy securities during the class period, you have until September 25, 2020, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at newaction@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
[Click here for information about joining the class action]
Defendant FirstEnergy is headquartered in Akron, Ohio. The Company is an electric utility company with subsidiaries and affiliates involved in the distribution, transmission, and generation of electricity, as well as energy management and other energy-related services. FirstEnergy's ten electric utility operating companies comprise one of the U.S.'s largest investor-owned utilities, serving more than six million customers in Ohio, Pennsylvania, West Virginia, Virginia, Maryland, New Jersey, and New York. The Company also owned and operated two nuclear power plants in Ohio—the Perry Nuclear Generating Station and the Davis-Besse Nuclear Power Station.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational, and compliance policies. Specifically, Defendants failed to disclose to investors that: defendants touted FirstEnergy's legislative "solutions" to problems with its nuclear facilities, but failed to disclose that these "solutions" centered on an illicit campaign to corrupt high-profile state legislators to secure legislation favoring the Company. Over a nearly three-year period, FirstEnergy and its affiliates funneled more than $60 million to prominent state politicians and lobbyists, including Ohio Speaker Larry Householder ("Householder"), to secure the passage of Ohio House Bill 6 ("HB6"), which provided a $1.3 billion ratepayer-funded bailout to keep the Company's failing nuclear facilities in operation. In addition, defendants falsely represented that they were complying with state and federal laws and regulations regarding regulatory matters throughout the Class Period, exposing the Company and its investors to undisclosed risks of reputational, legal, and financial harm.
The truth began to be revealed on July 21, 2020. That day, federal agents announced the arrest of Householder and four other persons, including a prominent FirstEnergy lobbyist, in connection with a $60 million racketeering and bribery scheme. The 82-page criminal complaint and affidavit detailed a pay-to-play scheme in which FirstEnergy corrupted the legislative process to ensure the passage of HB6. Prosecutors described the case as involving the "largest bribery, money-laundering scheme" in Ohio history.
On this news, FirstEnergy's stock price fell, trading as low as $22.85 per share on July 22, 2020, down nearly 45% from its closing price of $41.26 per share on July 20, 2020, damaging FirstEnergy shareholders.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP
WILLIAMSPORT, Md., Aug. 17, 2020 /PRNewswire/ -- Residential and business customers of FirstEnergy Corp's (NYSE: FE) Potomac Edison electric utility who are having difficulty making ends meet are encouraged to contact their utility now to enroll in payment plans or bill assistance programs. While shutoffs for nonpayment are temporarily suspended due to the pandemic, establishing an affordable payment arrangement or obtaining assistance can help keep balances manageable during this difficult time.
"We understand many customers are in a difficult financial situation because of the pandemic," said Michelle Henry, vice president of customer service at FirstEnergy. "Customers who have lost income during this crisis may be eligible for assistance that was unavailable to them before to help address overdue balances."
Customer service representatives are available to assist residential customers with manageable payment arrangements and can provide customers with information on needs-based assistance programs. These programs may help customers avoid a large bill that would otherwise be due when the temporary suspension on shutoffs ends.
Potomac Edison customers in Maryland may be eligible for one or more of the following assistance programs:
For additional program information, please visit www.firstenergycorp.com/billassist.
Potomac Edison also has established a customer service team dedicated to assisting business and commercial customers. This team can provide helpful information on available assistance programs and offer payment arrangements if needed. To explore these programs, please contact your utility company and ask to speak with a member of the Small Business Team. Potomac Edison's customer service team can be reached at 1-800-736-3401.
Potomac Edison, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 17, 2020 /PRNewswire/ -- Residential and business customers of FirstEnergy Corp's (NYSE: FE) Ohio electric utilities who are having difficulty making ends meet are encouraged to contact their utility now to enroll in payment plans or bill assistance programs. While shutoffs for nonpayment are temporarily suspended due to the pandemic, establishing an affordable payment arrangement or obtaining assistance can help keep balances manageable during this difficult time.
"We understand many customers are in a difficult financial situation because of the pandemic," said Michelle Henry, vice president of customer service at FirstEnergy. "Customers who have lost income during this crisis may be eligible for assistance that was unavailable to them before, but some of those programs might not be available later, when overdue balances must be addressed."
Customer service representatives are available to assist residential customers with manageable payment arrangements and can provide customers with information on needs-based assistance programs. These programs may include forgiveness of all or part of a customer's overdue balance, helping them to avoid a large bill that would otherwise be due when the temporary suspension on shutoffs ends.
Customers of FirstEnergy's Ohio utilities, Ohio Edison (OE), The Illuminating Company (CEI) and Toledo Edison (TE), may be eligible for one or more of the following programs:
For additional program information, please visit www.firstenergycorp.com/billassist.
FirstEnergy's Ohio utilities also have established a customer service team dedicated to assisting business and commercial customers. This team can provide helpful information on available assistance programs and offer payment arrangements if needed. To explore these programs, please contact your utility company and ask to speak with a member of the Small Business Team. Ohio utility customer service numbers are:
Ohio Edison | 1-800-686-3421 | |
The Illuminating Company | 1-800-686-9901 | |
Toledo Edison | 1-800-995-0095 |
Ohio Edison serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
The Illuminating Company serves 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Connect with The Illuminating Company at www.illuminatingcompany.com, on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison, on Facebook at www.facebook.com/ToledoEdison, and online at www.toledoedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Aug. 17, 2020 /PRNewswire/ -- Residential and business customers of Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), who are having difficulty making ends meet are encouraged to contact their utility now to enroll in payment plans or bill assistance programs. While shut-offs for nonpayment are temporarily suspended due to the pandemic, establishing an affordable payment arrangement or obtaining assistance can help keep balances manageable during this difficult time.
"We understand many customers are in a difficult financial situation because of the pandemic," said Michelle Henry, vice president of customer service at FirstEnergy. "Customers who have lost income during this crisis may be eligible for assistance that was unavailable to them before."
Customer service representatives are available to assist residential customers with manageable payment arrangements and can provide customers with information on needs-based assistance programs. These programs may include forgiveness of all or part of a customer's overdue balance, helping them to avoid a large bill that would otherwise be due when the temporary suspension on shutoffs ends.
Customers of JCP&L may be eligible for one or more of the following programs:
Additional program information is available at firstenergycorp.com/billassist.
JCP&L also has established a customer service team dedicated to assisting business and commercial customers. This team can provide helpful information on available assistance programs and offer payment arrangements if needed. To explore these programs, please contact your utility company and ask to speak with a member of the Small Business Team. JCP&L's customer service number is 1-800-962-0383.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Aug. 17, 2020 /PRNewswire/ -- Residential and business customers of FirstEnergy Corp's (NYSE: FE) Pennsylvania electric utilities who are having difficulty making ends meet are encouraged to contact their utility now to enroll in payment plans or bill assistance programs. While shutoffs for nonpayment are temporarily suspended due to the pandemic, establishing an affordable payment arrangement or obtaining assistance can help keep balances manageable during this difficult time.
"We understand many customers are in a difficult financial situation because of the pandemic," said Michelle Henry, vice president of customer service at FirstEnergy. "Customers who have lost income during this crisis may be eligible for assistance that was unavailable to them before, but some of those programs might not be available later, when overdue balances must be addressed."
Customer service representatives are available to assist residential customers with manageable payment arrangements and can provide customers with information on needs-based assistance programs. These programs may include forgiveness of all or part of a customer's overdue balance, helping them to avoid a large bill that would otherwise be due when the temporary suspension on shutoffs ends.
Assistance programs for residential customers include:
Dollar Energy Fund: An emergency hardship fund that helps residential customers restore or maintain electric service. Eligible customers may receive up to $500 while funds are available. Program funding is provided by FirstEnergy's customers, employees and shareholders and other sources. The distribution of funds is administered by the Dollar Energy Fund. For information, call 888-282-6816 or visit www.dollarenergy.org.
The Pennsylvania Customer Assistance Program (PCAP): PCAP helps residential customers maintain electric service and eliminate past-due balances. For enrollment information call 888-282-6816, or to apply online, visit dollarenergy.org/myapp.
LIHEAP is a federally funded grant program administered by the Commonwealth of Pennsylvania through local county assistance offices. Under LIHEAP's Recovery Crisis Program, eligible customers may receive Crisis grants of up to $800 to help with past due electric bills. Applications will be accepted until August 31 or until funds are exhausted. To apply, call LIHEAP at 877-395-8930 or visit www.compass.state.pa.us.
WARM Program: Income eligible customers can reduce their electric bills by making their homes more energy efficient by receiving an in-home energy evaluation, working with a trained energy educator to create an energy-savings plan, and having the opportunity to receive energy-saving upgrades. The specific improvements that a customer is eligible to receive will be determined during the home energy evaluation. For more information, customers can call Dollar Energy Fund at 888-282-6816, or apply online at www.energysavepa.com.
211: This nationwide resource and information helpline identifies locally available programs that may assist customers with utility bills or other needs. For more information dial 211, visit www.211.org or text your ZIP code to 898211.
To apply or learn more about other company programs, visit www.firstenergycorp.com/billassist or call 800-545-7741.
FirstEnergy's Pennsylvania utilities also have established a customer service team dedicated to assisting business and commercial customers. This team can provide helpful information on available assistance programs and offer payment arrangements if needed. To explore these programs, please contact your utility company and ask to speak with a member of the Small Business Team.
Pennsylvania utility customer service numbers are: | ||
Met-Ed | 1-800-962-4848 | |
Penelec | 1-800-962-4848 | |
Penn Power | 1-800-774-1674 | |
West Penn Power | 1-800-736-3404 |
Met-Ed serves about 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
Penn Power serves approximately 163,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power and on Facebook at www.facebook.com/PennPower.
West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Aug. 17, 2020 /PRNewswire/ -- Residential and business customers of FirstEnergy Corp.'s (NYSE: FE) Mon Power and Potomac Edison utilities who are having difficulty making ends meet are encouraged to contact their utility now to enroll in payment plans or bill assistance programs. While shutoffs for nonpayment are temporarily suspended due to the pandemic, establishing an affordable payment arrangement or obtaining assistance can help keep balances manageable during this difficult time.
"We understand many customers are in a difficult financial situation because of the pandemic," said Michelle Henry, vice president of customer service at FirstEnergy. "Customers who have lost income during this crisis may be eligible for assistance that was unavailable to them before, but some of those programs might not be available later, when overdue balances must be addressed."
Customer service representatives are available to assist residential customers with manageable payment arrangements and can provide customers with information on needs-based assistance programs. These programs may help customers avoid a large bill that would otherwise be due when the temporary suspension on shutoffs ends.
Mon Power and Potomac Edison customers in West Virginia may be eligible for one or more of the following assistance programs:
For additional program information, please visit firstenergycorp.com/billassist.
FirstEnergy's utilities also have established a customer service team dedicated to assisting business and commercial customers. This team can provide helpful information on available assistance programs and offer payment arrangements if needed. To explore these programs, please contact your utility company and ask to speak with a member of the Small Business Team. West Virginia utility customer service numbers are:
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
Potomac Edison serves about 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 10, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utilities continue restoration efforts for customers of Jersey Central Power & Light (JCP&L) who lost power as a result of Tropical Storm Isaias. Service has been restored to more than 785,200 JCP&L customers – more than 99% of the 788,000 customers impacted by the storm. All customers in both the Northern and Central Regions are expected to be restored by midnight tonight.
At this stage in the restoration effort, utility crews are addressing many localized issues and restoring individual customers. This requires crews to travel to individual locations to restore about 2,800 JCP&L customers who remain without power. This is the most time-consuming, labor intensive and complex part of service restoration.
If your neighbor's power is on and yours is not, the problem may be isolated to your individual service. Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
Utility crews have replaced more than 53 miles of wire, repaired or replaced more than 550 poles and 2,500 cross arms, and worked through more than 700 closed roads to repair service. In addition, JCP&L plans to perform post-storm inspections across its 13-county service area to identify additional damage to wire, cross arms, insulators and other equipment that may need to be addressed.
To safeguard the health and safety of FirstEnergy employees, contractors and the public, please respect social distancing protocols as utility personnel work around the clock to restore all power outages caused by Tropical Storm Isaias.
More Information
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 9, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utilities continue restoration efforts for customers of Jersey Central Power & Light (JCP&L) who lost power as a result of Tropical Storm Isaias. Service has been restored to more than 769,500 JCP&L customers – more than 97% of the 788,000 customers impacted by the storm.
More than 9,000 utility personnel from JCP&L, other FirstEnergy companies, and partner utilities from electric industry mutual assistance organizations continue working around the clock to restore power to about 18,500 JCP&L customers who remain without power. Utility crews have replaced more than 200,000 feet of wire, repaired or replaced more than 500 poles and 2,200 crossarms, and worked through more than 700 closed roads to repair service.
At this stage in the restoration effort, our crews are addressing many localized issues and restoring individual customers. This requires crews to travel to each individual location. This is the most time-consuming, labor intensive and complex part of service restoration. Based on current outages and damage assessments, we are projecting that some of the these more difficult restorations in the Central Region are expected to be restored by Monday, August 10 at 11:30 p.m., and in the Northern Region to be restored by Tuesday, August 11 at 11:30 p.m.
If your neighbor's power is on and yours is not, the problem may be isolated to your individual service. Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
County Updates:
To safeguard the health and safety of FirstEnergy employees, contractors and the public, please respect social distancing protocols as utility personnel work around the clock to restore all power outages caused by Tropical Storm Isaias.
More Information
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 8, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utilities continue restoration efforts for customers of Jersey Central Power & Light (JCP&L) who lost power as a result of Tropical Storm Isaias. Service has been restored to more than 696,000 JCP&L customers – more than 88% of the 788,000 customers impacted by the storm.
More than 9,000 utility personnel from JCP&L, other FirstEnergy companies, and partner utilities from electric industry mutual assistance organizations continue working around the clock to restore power to about 92,000 JCP&L customers who remain without power. Utility crews have replaced more than 140,000 feet of wire, hundreds of poles and crossarms, and worked through more than 400 closed roads to repair service.
Hardest hit areas:
Based on current outages and damage assessments, some difficult restorations may extend into early next week, and we are projecting that these customers in both the Northern and Central Regions are expected to be restored by Tuesday, August 11 at 11:30 p.m. Customer-specific restoration estimates will be updated when available. For updates, please login to your JCP&L account, call 1-888-LIGHTSS (1-888-544-4877), or visit www.firstenergycorp.com/outages.
To safeguard the health and safety of FirstEnergy employees, contractors and the public, please respect social distancing protocols as utility personnel work around the clock to restore all power outages caused by Tropical Storm Isaias.
More Information
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 7, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utilities continue restoration efforts for customers of Jersey Central Power & Light (JCP&L) who lost power as a result of Tropical Storm Isaias. Service has been restored to approximately 566,000 JCP&L customers – more than 72% of the 788,000 customers impacted by the storm.
More than 8,000 utility personnel from JCP&L, other FirstEnergy companies, and partner utilities from electric industry mutual assistance organizations continue working around the clock to restore power to about 221,000 JCP&L customers who remain without power, which includes approximately 155,000 customers in the hardest hit areas of Morris, Monmouth and Union counties. Utility crews have replaced more than 68,000 feet of wire, hundreds of poles and crossarms, and worked through more than 360 closed roads to repair service.
Based on current outages and damage assessments, approximately 85% of affected customers are expected to be restored by the end of the day today. The majority of remaining customers in both the Northern and Central Regions are expected to be restored by Tuesday, August 11 at 11:30 p.m.
FirstEnergy continues to work closely with its utility companies and mutual assistance organizations to secure additional resources to assist with restoring all impacted customers.
More Information
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
To safeguard the health and safety of FirstEnergy employees, contractors and the public, please respect social distancing protocols as utility personnel work around the clock to restore all power outages caused by Tropical Storm Isaias.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 6, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utilities continue restoration efforts for customers of Jersey Central Power & Light (JCP&L) and Metropolitan Edison (Met-Ed) who lost power as a result of Tropical Storm Isaias. Service has been restored to approximately 478,000 JCP&L customers and approximately 83,000 Met-Ed customers.
Downed trees, broken branches and road closures continue to hamper crews' efforts to access areas with damage to make repairs to broken poles and downed wires. Nearly 6,000 utility personnel from JCP&L, other FirstEnergy companies, and partner utilities from electric industry mutual assistance organizations are working to restore power in the hardest hit areas in JCP&L. FirstEnergy continues to work closely with these organizations to secure additional resources to assist with storm restoration efforts should they be needed.
Utility Summaries
More Information
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
To safeguard the health and safety of FirstEnergy employees, contractors and the public, please respect social distancing protocols as utility personnel work around the clock to restore all power outages caused by Tropical Storm Isaias.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Connect with FirstEnergy companies online at www.firstenergycorp.com, on Twitter at @Met_Ed or @JCP_L, or on Facebook at www.facebook.com/MetEdElectric or www.facebook.com/JCPandL.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 5, 2020 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) utilities have restored service to more than 288,000 customers of Jersey Central Power & Light (JCP&L) and Metropolitan Edison (Met-Ed) who lost power after Tropical Storm Isaias swept through the region Tuesday. Crews are working around the clock to assess damage and restore service to approximately 588,000 customers who remain without power in New Jersey and Pennsylvania.
The powerful storm system passed swiftly through New Jersey and eastern Pennsylvania Tuesday afternoon, pouring down up to 7" of rain and battering the region with wind gusts exceeding 65 mph.
Nearly 4,000 utility personnel are working to restore power in JCP&L's service territory, including approximately 1,000 JCP&L employees, 1,500 employees and contractors from FirstEnergy companies that were not impacted by the storm, and more than 1,500 external resources that had already been secured. Approximately 1,300 additional external line workers are being deployed and two additional staging sites are being established in Forked River and North Flemington, N.J., to provide further restoration assistance in the hardest hit areas of JCP&L's service territory.
Met-Ed line crews are being assisted by approximately 154 external utility personnel, contractors who have been working on transmission and distribution projects across its service area, as well as additional employees and contractors assisting from the company's other Pennsylvania utilities.
"As the Tropical Storm crossed our JCP&L and Met-Ed service territories, heavy winds and rain caused thousands of instances of downed wires, broken poles and crossarms, and damaged transformers caused by trees and other debris contacting our electrical equipment," said Samuel L. Belcher, senior vice president and president of FirstEnergy Utilities. "Though repair work can be slowed by unsafe working conditions and numerous road closures, we will continue to work around the clock to safely make repairs and deploy resources as needed until power to all customers has been restored."
Current outage updates as of 10:00 a.m. today include:
FirstEnergy continues to ensure the safety and health of all emergency response personnel by adhering to Centers for Disease Control and Prevention (CDC) guidelines during the coronavirus health emergency. To safeguard the health and safety of FirstEnergy employees, contractors and the public, please respect social distancing protocols as utility personnel continue to restore all power outages caused by Tropical Storm Isaias.
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
Water and Ice Locations
Customer Generators
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. More information about these communications tools is available online at www.firstenergycorp.com/connect.
Met-Ed serves approximately 570,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met_Ed and on Facebook at www.facebook.com/MetEdElectric.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 4, 2020 /PRNewswire/ -- As part of the preparation efforts to respond to Tropical Storm Isaias, FirstEnergy Corp. (NYSE: FE) utilities have secured more than 1,800 additional resources to assist in the company's service areas expected to be impacted the most.
On Tuesday, the Tropical Storm began moving into New Jersey, as well as eastern Pennsylvania and Maryland. The storm is expected to produce heavy rains and high winds across the Jersey Central Power and Light (JCP&L), Metropolitan Edison (Met-Ed) and Potomac Edison service territories throughout the afternoon. Gusts may reach 65 mph along the coast of JCP&L's service area and rainfall could exceed 6" in all impacted areas.
FirstEnergy has sent resources from its utilities that are not expected to be impacted by the storm to assist in restoration efforts. In addition, JCP&L has set up staging sites in Jackson Township, Oceanport and Livingston, N.J., and secured the following additional outside resources to help restore electricity to customers who lost power due to the storm:
Met-Ed and Potomac Edison line crews will be assisted by contractors who are currently working on transmission and distribution projects across its service areas. FirstEnergy continues to work closely with contractors and electric industry mutual assistance organizations to secure additional resources to assist with storm restoration efforts should they be needed.
As part of this mobilization effort, FirstEnergy continues to ensure the safety and health of all emergency response personnel by adhering to Centers for Disease Control and Prevention (CDC) guidelines and providing access to necessary protective equipment and cleaning supplies. To safeguard the health and safety of FirstEnergy employees, contractors and the public, please respect social distancing protocols as utility personnel work around the clock to restore all power outages caused by Tropical Storm Isaias.
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
FirstEnergy encourages customers to plan ahead for the possibility of electric service interruptions by following these tips:
Customer Generators
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
Met-Ed serves approximately 570,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met_Ed and on Facebook at www.facebook.com/MetEdElectric.
Potomac Edison serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 3, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utility personnel are prepared to respond quickly to restore power to customers should Tropical Storm Isaias impact the areas where the company provides electric service.
Company meteorologists are tracking the storm system, which is forecast to move up the east coast into New Jersey and eastern Pennsylvania, with the possibility of producing heavy rain and very strong, sustained winds across the Jersey Central Power and Light (JCP&L) and Metropolitan Edison (Met-Ed) service territories throughout the day Tuesday.
The companies have established storm response plans, which include staffing additional dispatchers, damage assessors and analysts at regional dispatch offices, and arranging to bring in additional line, substation and forestry personnel, as needed, based on the severity of the weather.
As part of the storm planning process, JCP&L has secured additional resources to assist in the areas expected to be impacted in the coming days and is setting up staging sites in N.J. In addition, FirstEnergy has coordinated with contractors and electric industry mutual assistance organizations to secure additional resources to assist with storm restoration efforts should they be needed.
Met-Ed line crews will be assisted by contractors who are currently working on transmission and distribution projects across its service area. As the Tropical Storm path becomes more certain, FirstEnergy utilities will continue mobilizing resources to provide support to all expected storm impact areas.
Company representatives also have been in contact with emergency management officials, state officials, regulators and local officials about Tropical Storm Isaias preparation efforts.
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
FirstEnergy encourages customers to plan ahead for the possibility of electric service interruptions by following these tips:
Customer Generators
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
Met-Ed serves approximately 570,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met_Ed and on Facebook at www.facebook.com/MetEdElectric.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 3, 2020 /PRNewswire/ -- The Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE:FE) award-winning program to train the next generation of dedicated line and substation workers, restarted training programs in early July after a four-month suspension due to the nation's coronavirus health emergency. Resuming the program with well-informed and measured precautions in place helps ensure the company is continuing to develop its important workforce that delivers safe and reliable electricity to customers despite the pandemic.
Second-year students of the two-year program returned to training centers July 6, and first-year students returned July 27 to complete suspended training. PSI personnel are following corporate health and safety guidelines and are taking all precautions to safeguard FirstEnergy's employees, contractors, students and candidates at the training centers. Actions include:
"The Power Systems Institute already has provided FirstEnergy's operating companies with nearly 2,000 highly-qualified employees who are working in the field today, using the training they received from this unique program to keep the lights on for our customers," said Rob Petit, supervisor of Power Systems Institute. "We're committed to maintaining our deep focus on safety as we continue this important training program for the future employees of our company."
Graduates of the program receive an Associate of Technical Studies degree with a focus on electric utility technology. While graduation ceremonies will not be held this year due to state orders that ban large gatherings, program graduates will still be hired by one of FirstEnergy's operating companies in September.
FirstEnergy originally introduced PSI in 2000 to help replace retiring line and substation workers. The PSI program combines classroom learning with hands-on training. Programs were established with colleges throughout the company's six-state service area. Program openings are limited, and applicants will be assessed through a competitive, multi-step process. For qualified students, FirstEnergy pays tuition, required books and lab fees. For more information, please visit www.firstenergycorp.com/psi or call 1-800-829-6801.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 27, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today issued the following statement from Chief Executive Officer Charles E. Jones:
On Friday morning, July 24, 2020, FirstEnergy Corp. (FirstEnergy) hosted a conference call and live webcast to discuss our second quarter financial results with investors and analysts. Following the call, there were some additional questions that led me to believe it might be beneficial to clarify several points that I made.
The first relates to details of the separation of FirstEnergy and FirstEnergy Solutions (FES), which began when FirstEnergy announced a strategic review of competitive generation in November of 2016. Also, in November, the FES board was replaced with two independent board members and three new board members from the competitive generation business. FirstEnergy and FES independently engaged legal and financial advisors to help guide each of us through the complicated strategic review. At that point, I and other members of FirstEnergy leadership no longer had any decision-making power regarding the strategic direction of FES. This fell under the purview of the FES board. Leaders at FirstEnergy, me included, had frequent discussions with FES leadership and its board about the strategic review and, as it progressed, numerous matters related to FES, including employee impacts and shared services. As events unfolded, FES' focus turned increasingly to bankruptcy as the sole alternative, culminating with the bankruptcy filing in March 2018. Immediately after, FES was deconsolidated from FirstEnergy's financial statements.
The second clarification I'd like to make is regarding FirstEnergy making decisions under the shared services agreement with respect to external affairs. During the call, a question was asked as to whether we were "running external affairs" for FES following our separation. As I responded at the time, this was not the case. While FES received support from FirstEnergy's External Affairs team to varying degrees, that support decreased over time, particularly, as the FES bankruptcy approached. FES made its own decisions after its new board was in place with respect to its external affairs strategy.
This third clarification, while perhaps unnecessary, is related to my statement that in every interaction with political leaders, I talked about FirstEnergy's obligations to conduct its business transparently, ethically, and professionally. While those responsibilities are central to my actions, I did not mean to suggest that I express that responsibility literally in every single communication.
As I have said many times, conducting our business ethically and acting with integrity and honesty are foundational principles for the entire FirstEnergy family as well as me personally. These high standards have fostered the trust of our employees, customers, and the financial community.
Forward-Looking Statements: This statement includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the extent and duration of the novel coronavirus (known as COVID-19) and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, , or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q together with any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 23, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported second quarter 2020 GAAP earnings of $309 million, or $0.57 per basic and diluted share of common stock, on revenue of $2.5 billion. In the second quarter of 2019, FirstEnergy reported GAAP earnings of $308 million, or $0.58 per basic and diluted share of common stock, on revenue of $2.5 billion. Second quarter results include the impact of special items listed below.
Operating (non-GAAP) earnings* for the second quarter of 2020 were $0.57 per share, near the top end of the company's guidance. In the second quarter of 2019, operating (non-GAAP) earnings were $0.61 per share.
"I am extremely proud of the performance by our employees during the COVID-19 pandemic," said Charles E. Jones, FirstEnergy chief executive officer. "They have not missed a beat as they adapted to new work protocols to keep each other safe and continued delivering energy to our customers. At the same time, our fully regulated business model and rate structure are providing a measure of stability through the economic slowdown, and we remain on track to meet our commitments to the investment community."
"We intend to cooperate fully with the Department of Justice investigation involving the Ohio Speaker of the House, and we will ensure our company's involvement in supporting HB 6 is understood as accurately as possible," Jones said. "I believe that FirstEnergy acted ethically in this matter. At no time did our support for Ohio's nuclear plants interfere with or supersede our ethical obligations to conduct our business properly. I believe the facts will become clear as the investigation progresses."
For the third quarter of 2020, FirstEnergy is providing a GAAP and operating (non-GAAP) forecast range of $395 million to $450 million, or $0.73 to $0.83 per share based on 542 million shares outstanding.
The company is affirming its full-year 2020 GAAP earnings forecast range of $1.02 billion to $1.13 billion, or $1.88 to $2.08 per share, based on 542 million shares, as well as its full-year operating (non-GAAP) guidance of $2.40 to $2.60 per share.
FirstEnergy is also affirming its long-term growth rate projections. The company remains on track to achieve 6% to 8% compound annual operating (non-GAAP) earnings growth (CAGR)** from 2018 to 2021, as well as its extended CAGR of 5% to 7% through 2023. That projection includes plans to issue up to $600 million of equity annually starting in 2022 to fund the company's regulated growth initiatives.
Second Quarter Results
In FirstEnergy's Regulated Distribution business, second quarter 2020 operating results benefited from higher residential volume, incremental rider revenues in Ohio and Pennsylvania, and weather-related usage. These factors were offset by the absence of the Ohio Distribution Modernization Rider and higher expenses compared to the second quarter of 2019.
Total distribution deliveries decreased 3.1% compared to the second quarter of 2019, primarily due to the impact of the pandemic on commercial and industrial sales. Residential sales increased 17.1%, as a result of the stay-at-home orders in our service territories and a benefit from weather-related customer usage compared to the second quarter of 2019. Commercial deliveries decreased 14.4%, while sales to industrial customers decreased 11.7%.
In the Regulated Transmission business, second quarter 2020 operating results decreased slightly primarily due to higher net financing costs and a true-up of the formula rate, which offset higher rate base associated with the company's ongoing investments in its Energizing the Future transmission program.
In the Corporate/Other segment, second quarter 2020 operating results reflect higher expenses compared to the same quarter of 2019.
For the first half of 2020, FirstEnergy reported GAAP earnings of $383 million, or $0.71 per basic and diluted share of common stock, on revenue of $5.2 billion. This compares to GAAP earnings of $623 million or $1.17 per basic and diluted share of common stock, on revenue of $5.4 billion in the first six months of 2019. Results for both periods reflect the impact of special items listed below.
Operating (non-GAAP) earnings* for the first half of 2020 were $1.23 per share, compared to $1.28 per share in the first half of 2019.
Consolidated GAAP Earnings to Operating (Non-GAAP) EPS* Reconciliation | |||||||||||
Three Months Ended June 30, | Six Months Ended June 30, | 2020 Estimates | |||||||||
2020 | 2019 | 2020 | 2019 | Third | Full Year | ||||||
Net Income attributable to Common Stockholders (GAAP) - $M | $309 | $308 | $383 | $623 | $395 - $450 | $1,020 - $1,130 | |||||
Earnings Per Share | $0.57 | $0.58 | $0.71 | $1.17 | $0.73 - $0.83 | $1.88 - $2.08 | |||||
Excluding Special Items*: | |||||||||||
Mark-to-market adjustments – | – | – | – | – | – | – | |||||
Pension/OPEB actuarial assumptions | – | – | 0.59 | – | – | 0.59 | |||||
Regulatory charges | – | – | 0.01 | (0.01) | – | 0.01 | |||||
Exit of competitive generation | – | 0.03 | (0.08) | 0.12 | – | (0.08) | |||||
Total Special Items* | – | 0.03 | 0.52 | 0.11 | – | 0.52 | |||||
Operating EPS (non-GAAP) | $0.57 | $0.61 | $1.23 | $1.28 | $0.73 - $0.83 | $2.40 - $2.60 | |||||
Per share amounts for the special items and earnings drivers above and throughout this report are based on the after-tax effect of each item divided by the number of shares outstanding for the period assuming full impact of dilution from the $2.5 billion equity issuance in January 2018. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount if deductible/taxable. The income tax rates range from 21% to 29% in all periods. Basic EPS (GAAP) is based on 542 million and 532 million shares for the Second Quarter of 2020 and 2019, respectively, and 541 million and 531 million shares for the First Half of 2020 and 2019, respectively. Operating EPS (Non-GAAP) is based on 542 million and 541 million shares for the Second Quarter and First Half of 2020, respectively, and 539 million shares for the Second Quarter and First Half of 2019. 2020 estimates for Basic EPS (GAAP) and Operating EPS (Non-GAAP) for the Third Quarter and Full Year are based on 542 million shares. |
Non-GAAP financial measures
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented in 2019 by 539 million shares, 541 million shares for the first half of 2020, and 542 million shares in the second quarter and full year of 2020, which reflects the full impact of share dilution from the equity issuance in January 2018. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Investor Materials and Teleconference
FirstEnergy's Strategic and Financial Highlights and Investor Factbook are posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on the Second Quarter 2020 Financial Results link.
The company invites investors, customers and other interested parties to listen to a live webcast of its teleconference for financial analysts and view presentation slides at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Second Quarter 2020 Earnings Webcast link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: The extent and duration of COVID-19 and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; risks and uncertainties associated with the ongoing government investigation regarding Ohio House Bill 6 and related matters; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; the risks and other factors discussed from time to time in our SEC filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
SAN FRANCISCO, July 22, 2020 /PRNewswire/ -- Hagens Berman urges FirstEnergy Corp. (NYSE: FE) investors who have suffered losses in excess of $50,000 to submit their losses now. The Firm has opened an investigation into FirstEnergy and certain investors may have valuable claims.
Relevant Holding Period: Before July. 21, 2020
Visit: www.hbsslaw.com/investor-fraud/FE
Contact An Attorney Now: FE@hbsslaw.com
844-916-0895
FirstEnergy Corp. (FE) Investigation:
The investigation centers on whether FirstEnergy adequately disclosed the legality and financial impact of its lobbying activities.
On July 21, 2020, multiple news outlets reported that the FBI had arrested Ohio House Speaker Larry Householder and four others in connection with an alleged $60 million illegal bribery scheme in return for Householder's support for legislation that ultimately passed in 2019, and which bailed out two nuclear power plants of Energy Harbor Corp., a former subsidiary of FirstEnergy. In addition, FirstEnergy announced that it had "received subpoenas in connection with the investigation surrounding" that legislation, Ohio House Bill 6.
In response to this news, analysts downgraded FirstEnergy and the price of FirstEnergy shares has cratered.
"We're focused on investors' losses and whether FirstEnergy misled investors about the purpose and legality of company expenditures," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of FirstEnergy and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding FirstEnergy should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email FE@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
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SOURCE Hagens Berman Sobol Shapiro LLP
MILWAUKEE, July 22, 2020 /PRNewswire/ -- Ademi & O'Reilly, LLP is investigating possible securities fraud claims against FirstEnergy (NYSE: FE) resulting from inaccurate statements FirstEnergy made regarding its internal controls, business practices, financial statements and prospects.
Click here to learn more about the investigation: http://ademilaw.com/case/firstenergy-corp or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
The investigation focuses on whether FirstEnergy issued false and misleading statements regarding its business practices, internal controls and prospects. Specifically, FirstEnergy allegedly spent approximately $2.9 million on Larry Householder's 2017 campaign. Householder became Ohio House Speaker in 2019 and allegedly returned the favor by enacting laws to support FirstEnergy's nuclear plants as well as a pair of coal plants. In total, political donations and bribes by FirstEnergy and other parties involved may have totaled as much as $60 million.
Householder and his alleged accomplices have been charged federally with "conspiracy to participate, directly or indirectly, in the conduct of an enterprise's affairs through a pattern of racketeering activity."
If you wish to obtain additional information or have information about this investigation of FirstEnergy, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, http://ademilaw.com/case/firstenergy-corp.
We specialize in securities fraud and shareholder litigation. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Ademi & O'Reilly, LLP
Guri Ademi
3620 East Layton Ave.
Cudahy, WI 53110
Toll Free: (866) 264-3995
Fax: (414) 482-8001
www.ademilaw.com
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SOURCE Ademi & O'Reilly, LLP
AKRON, Ohio, July 21, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today issued the following statement:
This afternoon, FirstEnergy Corp. (NYSE: FE) received subpoenas in connection with the investigation surrounding Ohio House Bill 6. We are reviewing the details of the investigation and we intend to fully cooperate.
Forward-Looking Statements: This statement includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the extent and duration of the novel coronavirus (known as COVID-19) and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets, including, but not limited to, risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, , or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q together with any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 21, 2020 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 39 cents per share of outstanding common stock. The dividend will be payable September 1, 2020, to shareholders of record at the close of business on August 7, 2020.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the extent and duration of the novel coronavirus (known as COVID-19) and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, , or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q together with any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 21, 2020 /PRNewswire/ -- As temperatures rise, FirstEnergy Corp. (NYSE: FE) customers can take steps to beat the heat while also managing their energy costs.
Extreme temperatures can often lead to rising energy usage for customers as the need for air conditioning increases and HVAC systems strain to keep up with higher demand. While customers are unable to control the weather, there are several things they can do to keep their homes cool without relying solely on their home's air conditioning unit.
Implementing the following tips will help customers use electricity wisely during this period of high demand:
FirstEnergy is also taking steps to ensure its system is prepared to handle the increased electricity demands during the summer period. Its utilities are proactively inspecting the system using special infrared cameras to identify issues with substations and power lines invisible to the eye. Proactive repairs are made where necessary to avoid potential power outages in the future. In addition, visual inspections of other equipment including transformers, capacitors and lightning arrestors are being conducted to ensure equipment is operational and lines are ready to perform efficiently when demand for electricity increases.
Other FirstEnergy summer safety tips are available at www.firstenergycorp.com/safety.
For bill assistance resources, customers may visit www.firstenergycorp.com/billassist.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 16, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the second quarter and first half of 2020 after markets close on Thursday, July 23. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Friday, July 24. 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 slides via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its second quarter presentation and supporting materials to the investor section of the website after markets close on July 23.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
READING, Pa., July 14, 2020 /PRNewswire/ -- As part of its ongoing Energizing the Future investment program, Mid-Atlantic Interstate Transmission (MAIT), a transmission subsidiary of FirstEnergy Corp. (NYSE: FE), has begun construction of a new transmission line in Altoona, Pa. The new line will provide flexibility to the transmission and distribution system to quickly restore power to customers after service interruptions resulting from storms, vehicle accidents or equipment issues.
The new 46-kilovolt (kV) line linking Penelec's Westfall Substation near 17th Avenue to its 20th Street Substation near Boyer Candy will provide a second source of electricity for the 20th Street Substation. At present, the 20th Street Substation and the distribution lines leaving the substation are fed by a lone transmission line, which could result in lengthy power outages if repairs were required on that line.
"This project will yield immediate benefits for about 3,000 of our residential and commercial customers in the downtown area, including the Altoona Area Senior/Junior High School Complex, UPMC Station Medical Center, Jaffa Mosque and the Railroaders Museum," said Nick Austin, regional president of Penelec. "Rather than having to wait until repairs are completed when there is a problem, we will have the capability to quickly get the lights back on for our customers by temporarily switching to a different power source."
The new transmission line will be placed primarily on wood poles ranging from 70 to 90 feet tall and largely follow an existing distribution line corridor. Where the line turns and space is insufficient for guy wires, construction crews will erect self-supporting steel poles. The existing poles carrying the distribution circuit will be demolished and the circuit will be moved onto the same poles carrying the new transmission line.
A drilling contractor has been working to excavate holes and pour foundations for the poles for the past month. Crews are now setting poles, and the work is expected to be complete in mid-August. The one-mile line will cost about $4 million.
This summer, crews will also begin rebuilding the existing 46-kV line connecting the 20th Street Substation to the Collinsville Substation at a cost of approximately $4 million. A larger wire size will be utilized to increase the carrying capacity of the line and enhance electric service reliability for approximately 35,000 Penelec customers in Blair County. This section is scheduled to be completed by October.
Through the Energizing the Future transmission investment program, FirstEnergy is upgrading or replacing existing transmission lines, constructing new lines, incorporating new, smart technology into the grid, and outfitting dozens of substations with new equipment and advanced security features. These upgrades are increasing reliability across the FirstEnergy transmission system.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of crews building the new line are available for download on Flickr.
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SOURCE FirstEnergy Corp.
ERIE, Pa., July 8, 2020 /PRNewswire/ -- Penelec, a FirstEnergy Corp. (NYSE: FE) utility, recently injected sections of an aging underground distribution line in Erie County with a silicone-based fluid that should prolong its useful life by decades. This method allows the cable to support continued reliable electric service for a fraction of what it would have cost to replace it and eliminates the need to dig trenches through landscaped yards and driveways for cable replacement.
Over time, water and corrosive soil materials can penetrate underground wire through tiny cracks and fissures, causing power outages. Rather than disturbing dirt to replace nearly 1.5 miles of aging underground cable along Fieldcrest Drive and Townsend Drive in Fairview Township, Penelec hired an electrical contractor that specializes in restoring buried cable without excavation.
This is the first time Penelec has used fluid injections to rehabilitate underground electric cable. The company may consider the process for more widespread application in coming years. The approximately $80,000 project is part of the company's ongoing efforts to strengthen the durability of its electric system and enhance service reliability for its customers.
"Underground electrical equipment is in many ways better protected from the elements than overhead wires, but when an outage occurs it often takes longer for our crews to pinpoint where the underground problem is and make repairs," said Nick Austin, regional president of Penelec. "The underground cable rejuvenation process only costs about half as much as replacing the cable – plus, it's far less time consuming and disruptive for neighborhoods."
Accessing de-energized wires through underground vaults, the contractor forced pressurized silicone-based fluid into the cable, filling the cracks and spaces in the worn insulation encasing the wire with new material. The fluid provides a shot in the arm, strengthening the existing cable and helping it perform well for another 20 to 30 years.
Penelec plans to replace another 30,000 feet of aging underground cable in 2020. Much of that cable has been spliced and repaired too many times for those line sections to be good candidates for fluid injection.
The work is part of Penelec's Long Term Infrastructure Improvement Plans (LTIIP II), a $200 million initiative to accelerate capital investments over five years to help ensure continued electric service reliability for the company's 585,000 customers.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of underground cable rejuvenation work in the Penelec service area are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 7, 2020 /PRNewswire/ -- Residential customers of FirstEnergy Corp.'s (NYSE: FE) Ohio utilities – The Illuminating Company, Ohio Edison and Toledo Edison – can save energy and earn a rebate up to $75 through September 30, 2020, with the purchase of an ENERGY STAR® certified smart thermostat. In addition to providing energy savings, these devices offer environmental benefits and convenience while giving customers added insight into their home energy use.
A smart thermostat is a Wi-Fi enabled device that automatically adjusts heating and cooling temperature settings in one's home for optimal performance. With remote features, customers can regulate the temperature and comfort settings for their home based on their schedule.
Nearly half of a home's energy costs can come from heating and cooling, totaling more than $900 per year. Smart thermostats give customers more control over their home's temperature settings and may help save money during these difficult times.
"Hot summer weather, coupled with more time at home during the coronavirus health emergency, can increase electricity use, resulting in higher electric bills," said Nicole Williams, Manager of Energy Efficiency Residential Program Implementation at FirstEnergy. "Smart thermostat technology can be helpful in saving money by automatically adjusting temperature settings to keep you comfortable when you are home and switching to energy-saving settings when you are away."
The $75 rebates are available for both online and in-store purchases. For more details on the program or to submit a rebate, visit www.energysaveOhio.com.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 7, 2020 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing upgrades to its electric system in the area that are expected to enhance electric service reliability for 193,000 customers in Trumbull and Mahoning counties.
The work includes installing more than 500 new utility poles and replacing 11 miles of existing power lines with thicker, more durable wire designed to withstand severe weather elements and tree debris. The work includes the creation of additional circuit ties, where adjacent distribution lines are interconnected so power can be re-routed to customers from another source if a line is damaged, resulting in faster power restoration.
Customers also will benefit from installation of more than 20 new automated reclosing devices that can help restore power to customers within seconds in the event of a power outage. These electrical devices allow utility personnel to automatically restore service to customers rather than sending a crew to investigate, which is especially helpful in rural or hard-to-access areas.
"We are committed to providing the highest quality of electric service to the communities we serve," said Ed Shuttleworth, regional president of Ohio Edison and Penn Power. "This work to modernize our distribution system is necessary to meet the growing energy demands of our customers for many years to come."
Part of Ohio Edison's Grid Modernization Plan, a three-year investment approved by the Public Utilities Commission of Ohio (PUCO) to modernize the electric distribution system in Ohio, the work began in March and is expected to be completed by the end of 2020.
In addition to Ohio Edison's distribution system upgrades, the company plans to install about 72,000 smart meters in Trumbull County by the end of 2022, primarily in the Warren and Kinsman areas. Most of the installs are expected to begin early next year and continue through early 2022. This step toward a more modernized electric system will enable automated meter readings and may enhance the company's ability to respond to outages faster and more efficiently.
FirstEnergy's Ohio utilities, including Ohio Edison, have developed a comprehensive smart meter plan that was approved by the PUCO to identify several locations throughout the company's service area that will benefit from these efforts in the most cost-effective manner.
Ohio Edison serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of Ohio Edison crews restringing power lines and installing new equipment are available for download on Flickr.
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SOURCE FirstEnergy Corp.
NEW CASTLE, Pa., June 30, 2020 /PRNewswire/ -- The Pennsylvania Power Company (Penn Power), a subsidiary of FirstEnergy Corp. (NYSE: FE), is upgrading infrastructure and installing technology to modernize its electric system in Lawrence County as part of a new, four-year plan expected to enhance electric service reliability for customers. This work builds upon the company's previous system upgrades that have decreased electric service disruption frequency by 20% for customers in areas where work has been completed since 2016.
Projects in Lawrence County include installing approximately 300 new poles and replacing more than 50,000 feet of power lines with thicker, more durable wire designed to withstand severe weather elements and tree debris. The work includes the creation of additional circuit ties, where adjacent distribution lines are interconnected so power can be re-routed to customers from another source if a line is damaged, resulting in faster power restoration. In addition, customers will benefit from the installation of nearly a dozen new automated reclosing devices that can help restore power to customers within seconds in the event of a power outage.
The new, automated technology is safer and saves time and money because utility workers can restore service to customers remotely rather than sending a crew to investigate, which is especially helpful in rural areas.
"Penn Power's investments to modernize the local energy grid to date have successfully reduced the number and length of outages our customers experience, and we expect similar results with the ongoing work," said Ed Shuttleworth, regional president of Penn Power and Ohio Edison. "To continue meeting the evolving energy needs of our customers, we remain committed to updating and modernizing the infrastructure, technology and equipment used to provide safe, dependable electric service."
The work started earlier this month and is expected to be completed by the end of the year. It is part of Penn Power's second phase Long Term Infrastructure Improvement Plan (LTIIP II), approved by the Pennsylvania Public Utility Commission to help enhance electric service for customers.
Penn Power serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Penn Power crews restringing power lines and installing new equipment are available for download on Flickr. A video of utility personnel installing the new electrical equipment in Lawrence County can be found on YouTube.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 24, 2020 /PRNewswire/ -- With the hot summer months likely to produce higher electric usage and potentially severe weather, FirstEnergy Corp.'s (NYSE: FE) Ohio utilities – Ohio Edison, The Illuminating Company and Toledo Edison – recently completed inspections and conducted equipment maintenance expected to enhance service reliability for Ohio customers.
"We proactively inspect and maintain our equipment to help ensure system reliability to meet the increased electrical demand when the temperatures climb," said Gary Grant, president of FirstEnergy's Ohio operations. "We anticipate more customers will be spending time at home this summer, and our goal is to continue delivering the safe and reliable power they depend on to stay comfortable."
Helicopter patrols have completed inspections on nearly 7,200 miles of FirstEnergy transmission line circuits located across the company's entire Ohio footprint. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspections are addressed quickly.
On the ground, proactive equipment inspections include using "thermovision" cameras to capture infrared images of electrical equipment that can detect potential problems within substations and on power lines that cannot be observed during regular visual inspections. The infrared technology shows heat on a color scale, with brighter colors or "hot spots" indicating areas that could need repairs. These images can identify equipment issues such as loose connections, corrosion and load imbalances, and utility workers are able to make repairs to prevent potential power outages in the future.
Other utility work being done by FirstEnergy utility personnel includes inspecting distribution circuits, such as transformers, capacitors, reclosers and lightning arrestors to ensure the equipment is operational and the lines are ready to perform efficiently when demand for electricity increases during the summer, typically due to air conditioning usage.
FirstEnergy's utility employees also participated in readiness exercises and drills throughout the year to test the company's restoration process used to repair storm-related power outages. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
In addition to the work being done by company employees, summer also is a time when contractors and homeowners spend more time outdoors completing projects. FirstEnergy offers important outdoor electrical safety tips at www.firstenergycorp.com/safety.
Ohio Edison serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
The Illuminating Company serves 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Connect with The Illuminating Company at www.illuminatingcompany.com, on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for FirstEnergy customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 24, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a FirstEnergy Corp. (NYSE: FE) subsidiary, has completed inspections and conducted equipment maintenance projects across its 13-county service area to enhance customer service reliability as part of its annual summer preparedness plan. The company is also ready to respond to power outages caused during the Atlantic hurricane season, which runs through November 30, 2020, and is predicted to be particularly active this year.
In preparation for the summer season and associated high temperatures and humidity, JCP&L has completed helicopter patrols and other maintenance related inspections on more than 780 miles of transmission lines located in the JCP&L territory. The inspections are designed to look for potential tree-related issues, damaged wires, broken cross arms, failed insulators and switches and other hardware problems not easily detected from the ground. Any potential reliability issues identified during the inspections are safely and quickly addressed.
On the ground, the inspections include using "thermovision" cameras to capture infrared images that can detect potential problems with equipment such as transformers and capacitors. By identifying these hot spots, maintenance and repair efforts can be conducted prior to a power outage occurring.
"Since 2016, we have made numerous investments in our infrastructure that benefit customers by enhancing the resiliency and reliability of our system," said Jim Fakult, president, JCP&L. "Coupled with those investments, these proactive inspections and equipment maintenance measures will help ensure system reliability to meet an increased demand for electricity during the summer months and enhance our readiness to respond to power outages during the hurricane season."
As part of its hurricane preparation planning, FirstEnergy's certified meteorologists use National Hurricane Center data to help predict any hurricane or tropical storm's impact on JCP&L's central and northern New Jersey service areas. This information is used to help pre-position outside personnel and resources in New Jersey prior to the weather event occurring.
In addition, JCP&L is closely monitoring the area surrounding the Barrier Island Peninsula because of its attraction to tourism during the summer months and vulnerability to severe weather. When tropical storms and hurricanes make landfall, the first areas they hit are barrier islands – thin ribbons of sand that line the Atlantic Coast and absorb much of a storm's force, reducing wave energy and protecting inland areas.
If a major storm strikes, JCP&L can call on thousands of line workers, hazard responders, forestry workers and support personnel from FirstEnergy's other utilities that can be deployed to New Jersey to help restore service to customers as quickly as possible. In addition, JCP&L has access to several utility industry mutual assistance organizations that could provide additional resources to help restore service to customers, if necessary. The company has worked with the Edison Electric Institute (EEI) as well as vendors and contractors to revise operational and logistical planning during storms in light of the coronavirus health emergency. Measures have been implemented to ensure all established health and safety protocols can be properly followed, allowing responding personnel to focus on their mission of efficiently restoring service.
In addition, JCP&L employees will continue to participate in readiness exercises involving company operations and support personnel, which include representatives from the Office of Emergency Management, and staff from the New Jersey Bureau of Public Utilities. The drills are designed to test the company's restoration process used to repair storm related outages and enhance and refine the communication process. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
For updated company information, including hot weather tips, customers are urged to visit the 24/7 Power Center at www.firstenergycorp.com/outages.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: JCP&L summer preparedness work photos are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
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SOURCE FirstEnergy Corp.
READING, Pa., June 24, 2020 /PRNewswire/ -- With the hot, humid summer months expected to produce higher electric usage and potentially severe weather, Metropolitan Edison Company (Met-Ed), a FirstEnergy Corp. (NYSE: FE) subsidiary, is completing inspections and conducting equipment maintenance in its 14-county eastern and south-central Pennsylvania service area to enhance service reliability for customers. The company is also ready to respond to power outages caused during the Atlantic hurricane season, which runs through November 30, 2020, and is predicted to be particularly active this year.
Cost-effective helicopter patrols have completed inspections of nearly 1,400 miles of transmission lines located in the Met-Ed area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection will be addressed immediately.
On the ground, Met-Ed crews are inspecting distribution circuits, including transformers, capacitors, reclosers and lightning arrestors to ensure the equipment is operational and the lines are ready to perform efficiently when demand for electricity increases during the summer, typically due to air conditioning usage.
The summer readiness inspections include using "thermovision" cameras to capture infrared images that can detect potential problems with Met-Ed substation equipment such as transformers and capacitors. By identifying hot spots, maintenance and repairs can be conducted prior to a power outage occurring.
"Summer heat and humidity results in our customers using more fans and air conditioning to stay cool," said Linda Moss, Met-Ed regional president. "We proactively inspect and maintain our equipment to help ensure system reliability to meet the increased electrical demand when temperatures soar, and our customers depend on us to help them remain comfortable."
Tree trimming is another key to preparing the Met-Ed system to meet the rigors of summer operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Met-Ed tree contractors have trimmed approximately 1,300 circuit miles of electric lines since January and expect to trim another 1,800 miles by year end.
In addition, a team of Met-Ed and FirstEnergy employees perform readiness exercises to test the company's restoration process used to repair storm-related power outages. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
For updated company information, including hot weather tips, customers are urged to visit the 24/7 Power Center at www.firstenergycorp.com/outages.
In addition to the work being done by company employees, summer also is a time when roofers, home builders, lawn service workers and other contractors work long hours. To help stay safe around electrical equipment while on the job, FirstEnergy offers important tips at www.firstenergycorp.com/contractorsafety.
Met-Ed serves approximately 570,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers conducting thermovision inspections to enhance service reliability for FirstEnergy customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/met-ed-conducting-inspections-and-maintenance-to-help-enhance-customer-service-reliability-through-summer-season-301083104.html
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., June 24, 2020 /PRNewswire/ -- With the hot, humid summer months expected to produce higher electric usage and the potential for severe weather, Mon Power, a FirstEnergy Corp. (NYSE: FE) subsidiary, has completed projects, inspections, and equipment maintenance across its 34-county service territory in north central West Virginia to enhance service reliability for customers.
Helicopter patrols have completed inspections on more than 2,100 miles of FirstEnergy transmission lines located in the Mon Power area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Potential reliability issues identified during the inspection will be addressed.
On the ground, the inspections include using "thermovision" cameras to capture infrared images that can detect potential problems with Mon Power substation equipment such as transformers and capacitors. By identifying hot spots, maintenance and repairs can be handled prior to a power outage occurring.
Crews also conducted inspections of distribution circuits, focusing on more than 580 line capacitors that maintain proper electric voltage on the Mon Power electric system. These devices are especially useful in remote locations because they automatically adjust voltage levels to accommodate changing system conditions.
"We proactively inspect and maintain our equipment to ensure system reliability to meet the increased electrical demand from higher air conditioning usage when the temperatures climb," said Jim Myers, FirstEnergy's president of West Virginia operations. "Our crews have safely and efficiently completed the necessary readiness work because they know our customers are counting on us to keep them comfortable during the summer."
Tree trimming is another key to preparing our system to meet the rigors of summer operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Tree contractors have trimmed more than 2,900 circuit miles of transmission and distribution lines in the Mon Power footprint since January and expect to trim another 2,700 miles by year end.
Summer readiness also includes focusing on employee safety by educating field personnel on proper safety procedures and precautions for working in hot weather. Ensuring employees know the signs of heat exhaustion and the importance of proper hydration, taking adequate breaks and scheduling work appropriately are some of the key areas for employee safety.
Mon Power's power plants are prepared to meet the expected demand for electricity this summer. Plant personnel have done inspections and performed maintenance on key operational systems to ensure the power stations will be available during extreme heat conditions. If maintenance is needed throughout the summer, the work will be scheduled around periods of peak demand in order to ensure that generation is available when it is most needed.
In addition to the work being done by company employees, summer also is a time when roofers, home builders, lawn service workers and other contractors work long hours. To help stay safe around electrical equipment while on the job, FirstEnergy offers important tips at www.firstenergycorp.com/contractorsafety.
For updated company information, including hot weather tips, customers are urged to visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers conducting thermovision inspections to enhance service reliability for FirstEnergy customers are available for download on Flickr. A video of thermovision inspections and explanation the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/mon-power-completes-inspections-and-maintenance-to-help-enhance-customer-service-reliability-through-summer-season-301083102.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 24, 2020 /PRNewswire/ -- With the hot summer months likely to produce higher electric usage and potentially severe weather, Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), recently completed inspections and conducted equipment maintenance expected to enhance service reliability for more than 160,000 customers across western Pennsylvania.
"Summer heat and humidity results in our customers using more fans and air conditioning to stay cool," said Ed Shuttleworth, regional president of Penn Power and Ohio Edison. "By conducting proactive inspections and equipment maintenance, we help ensure system reliability to meet this increased demand for electricity."
Helicopter patrols have completed inspections on nearly 720 miles of FirstEnergy transmission line circuits located in the Penn Power service area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspections are addressed quickly.
On the ground, proactive equipment inspections include using "thermovision" cameras to capture infrared images of electrical equipment that can detect potential problems within substations and on power lines that cannot be observed during regular visual inspections. The infrared technology shows heat on a color scale, with brighter colors or "hot spots" indicating areas that could need repairs. These images can identify equipment issues such as loose connections, corrosion and load imbalances, and utility workers are able to make repairs to prevent potential power outages in the future.
Other utility work being done by Penn Power utility personnel includes inspecting distribution circuits, such as transformers, capacitors, reclosers and lightning arrestors to ensure the equipment is operational and the lines are ready to perform efficiently when demand for electricity increases during the summer, typically due to air conditioning usage.
Penn Power and FirstEnergy employees also participated in readiness exercises and drills throughout the year to test the company's restoration process used to repair storm-related power outages. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
In addition to the work being done by company employees, summer also is a time when contractors and homeowners spend more time outdoors completing projects. FirstEnergy offers important outdoor electrical safety tips at www.firstenergycorp.com/safety.
Penn Power is a subsidiary of FirstEnergy Corp and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of workers conducting inspections to enhance service reliability for FirstEnergy customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/penn-power-completes-inspections-and-maintenance-to-help-enhance-customer-service-reliability-through-summer-season-301083100.html
SOURCE FirstEnergy Corp.
READING, Pa., June 24, 2020 /PRNewswire/ -- With the hot, humid summer months expected to produce higher electric usage and potentially severe weather, Pennsylvania Electric Company (Penelec), a FirstEnergy Corp. (NYSE: FE) subsidiary, is completing inspections and conducting equipment maintenance across its 31-county western and central Pennsylvania service area territory to enhance service reliability for customers.
Cost-effective helicopter patrols have completed inspections of more than 2,500 miles of transmission lines in the Penelec area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection will be addressed.
On the ground, Penelec crews are inspecting distribution circuits, including transformers, capacitors, reclosers and lightning arrestors to ensure the equipment is operational and the lines are ready to perform efficiently when demand for electricity increases during the summer, typically due to air conditioning usage.
The summer readiness inspections include using "thermovision" cameras to capture infrared images that can detect potential problems with Penelec substation equipment such as transformers and capacitors. By identifying hot spots, maintenance and repairs can be conducted prior to a power outage occurring.
"The summer heat and humidity results in our customers using more fans and air conditioning to stay cool," said Nick Austin, Penelec regional president. "We proactively inspect and maintain our equipment to help ensure system reliability to meet the increased demand for electricity when temperatures soar and our customers depend on us to help them remain comfortable."
Tree trimming is another key to preparing Penelec's system to meet the rigors of summer operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Penelec tree contractors have trimmed approximately 2,000 circuit miles of electric transmission and distribution lines since January and expect to trim another 2,300 miles by year end.
In addition, a team of Penelec and FirstEnergy employees recently performed readiness exercises to test the company's restoration process used to repair storm-related power outages. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
For updated company information, including hot weather tips, customers are urged to visit the 24/7 Power Center at www.firstenergycorp.com/outages.
In addition to the work being done by company employees, summer also is a time when roofers, home builders, lawn service workers and other contractors work long hours. To help stay safe around electrical equipment while on the job, FirstEnergy offers important tips at www.firstenergycorp.com/contractorsafety.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers conducting thermovision inspections to enhance service reliability for FirstEnergy customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/penelec-conducting-inspections-and-maintenance-to-help-enhance-customer-service-reliability-through-summer-season-301083101.html
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., June 24, 2020 /PRNewswire/ -- With the upcoming hot, humid summer months expected to produce higher electric usage along with the potential for severe weather, Potomac Edison, a FirstEnergy Corp. (NYSE: FE) subsidiary, has completed inspections and equipment maintenance across its western Maryland and Eastern Panhandle of West Virginia service areas to enhance reliability for customers.
Helicopter patrols have completed inspections on more than 1,300 miles of FirstEnergy transmission line circuits located in the Potomac Edison area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Potential reliability issues identified during the inspection will be prioritized and addressed.
On the ground, Potomac Edison personnel inspected the company's 212 substations earlier this spring and completed needed repairs prior to the summer. The inspections included using "thermovision" cameras to capture infrared images that can detect potential problems with equipment. By identifying hot spots, potential problems can be addressed before a power outage occurs.
Crews also conducted inspections of distribution circuits, focusing on more than 600 line capacitors that maintain proper electric voltage on the Potomac Edison electric system. These devices are especially useful in remote locations because they automatically adjust voltage levels to accommodate changing system conditions.
"We proactively inspect and maintain our equipment to ensure system reliability to meet the increased electrical demand from higher air conditioning usage when the temperatures climb," said James A. Sears, Jr., FirstEnergy's president of Maryland operations and vice president of Potomac Edison. "Our crews have safely and efficiently completed the necessary readiness work because they know our customers are counting on us to keep them comfortable during the summer."
Tree trimming is another key to preparing our system to meet the rigors of summer operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Potomac Edison tree contractors have trimmed more than 1,400 circuit miles of electric lines since January and expect to trim another 1,500 miles by year end.
Summer readiness also includes focusing on employee safety by educating field personnel on proper safety procedures and precautions for working in hot weather. Ensuring employees know the signs of heat exhaustion and the importance of proper hydration, taking adequate breaks and scheduling work appropriately are some of the key areas for employee safety.
In addition to the work being done by company employees, summer also is a time when roofers, home builders, lawn service workers and other contractors work long hours. To help stay safe around electrical equipment while on the job, FirstEnergy offers important tips at www.firstenergycorp.com/contractorsafety.
For updated company information, including hot weather tips, customers are urged to visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Potomac Edison serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers conducting thermovision inspections to enhance service reliability for Potomac Edison customers are available for download on Flickr. A video of thermovision inspections and explanation the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/potomac-edison-completes-inspections-and-maintenance-to-help-enhance-customer-service-reliability-through-summer-season-301083099.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., June 24, 2020 /PRNewswire/ -- With the hot, humid summer months expected to produce higher electric usage and potentially severe weather, West Penn Power, a FirstEnergy Corp. (NYSE: FE) subsidiary, is completing inspections and conducting equipment maintenance across its 24-county western and central Pennsylvania service territory to enhance service reliability for customers.
Helicopter patrols have completed inspections of more than 1,700 miles of FirstEnergy transmission lines located in the West Penn Power area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators and other hardware problems not visible from the ground. Potential reliability issues identified during the inspection are being prioritized and addressed.
On the ground, the summer readiness inspections include using "thermovision" cameras to capture infrared images that can detect potential problems with West Penn Power substation equipment such as transformers and capacitors. By identifying hot spots, maintenance and repairs can be conducted prior to a power outage occurring.
West Penn Power utility crews also are conducting inspections of distribution circuits, including transformers, capacitors, reclosers and lightning arrestors to ensure the equipment is operational and the lines are ready to perform efficiently when demand for electricity increases during the summer, typically due to air conditioning usage.
"Our customers turn up their air conditioning to keep cool during sweltering summer weather," said John Rea, regional president of West Penn Power. "We proactively inspect and maintain our equipment to ensure system reliability to meet the increased electrical demand when temperatures soar and customers depend on us to help them stay comfortable."
Tree trimming is another key to preparing the West Penn Power system to meet the rigors of summer operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. West Penn Power tree contractors have trimmed about 2,000 circuit miles of electric lines since January and expect to trim another 2,600 miles by year end.
In addition, a team of West Penn Power and FirstEnergy employees perform readiness drills to test the company's restoration process used to repair storm-related power outages. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
For updated company information, including hot weather tips, customers are urged to visit the 24/7 Power Center at www.firstenergycorp.com/outages.
In addition to the work being done by company employees, summer also is a time when roofers, home builders, lawn service workers and other contractors work long hours. To help stay safe around electrical equipment while on the job, FirstEnergy offers important tips at www.firstenergycorp.com/contractorsafety.
West Penn Power serves approximately 725,000 customers within 24 counties in central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions.
Editor's Note: Photos of workers conducting thermovision inspections to enhance service reliability for FirstEnergy customers are available for download on Flickr. A video of utility personnel conducting a thermovision inspection and explaining the work can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/west-penn-power-conducting-inspections-and-maintenance-to-help-enhance-customer-service-reliability-through-summer-season-301083098.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 16, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming work along nearly 4,900 miles of power lines across its 13-county service territory as part of its annual vegetation management program. This work helps keep power flowing to customers around the clock by preventing tree-related outages.
JCP&L's 2020 tree trimming work includes 900 miles of enhanced vegetation management as part of JCP&L Reliability Plus, which provides additional investments to address tree damage and trimming in targeted areas of the system impacted by severe weather events. Together, the 2020 vegetation management plan and JCP&L Reliability Plus represent a $57 million commitment to help enhance electric service reliability and prepare for summer storms and an Atlantic hurricane season that is predicted to be more severe than normal.
Since the beginning of the year, tree contractors have trimmed more than 1,800 circuit miles of electric lines in the JCP&L service area. JCP&L expects to complete an additional 3,100 miles of work by the end of this year.
"Tree trimming remains vitally important to our efforts to enhance reliability for customers by reducing the frequency and duration of power outages," said Alex Patton, JCP&L vice president of Operations. "Over the past decade, this important work has led to a 25% decrease in tree-related outages, so it's important that we continue to implement a strong tree trimming program."
Conducted by certified forestry contractors under the company's direction, tree trimming is done on a four-year cycle as part of JCP&L's ongoing vegetation management program. The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree while also maintaining proper clearances around electrical equipment. Trees that present a danger or are diseased may also be removed.
This year's program also continues to focus on identifying and proactively removing deteriorated ash trees near electric distribution lines, primarily in JCP&L's northern service territory, that have been affected by the Emerald Ash Borer, an invasive beetle that originated in Asia. First confirmed in the U.S. in 2002, the infestation has spread to New Jersey and more than 35 states. More than 1,900 dead and dying ash trees have been removed this year and more than 17,500 since the initiative began in New Jersey in 2017.
JCP&L works with municipalities to inform them of vegetation management schedules. In addition, customers living in areas along company rights-of-way are notified prior to work being performed. To further decrease tree-related outages, JCP&L's foresters also are working to educate residents who live near company equipment about the importance of properly maintaining the trees on their own property.
As part of the 2020 tree trimming program, forestry contractors are performing tree work in municipalities in the following counties in June:
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining FirstEnergy's vegetation management techniques can also be found on YouTube.
View original content to download multimedia:http://www.prnewswire.com/news-releases/jcpl-2020-tree-trimming-program-to-enhance-service-reliability-301078257.html
SOURCE FirstEnergy Corp.
READING, Pa., June 16, 2020 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its service area in Pennsylvania as part of its ongoing efforts to help enhance electric service reliability.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of tree-related power outages, especially those associated with severe weather such as summer thunderstorms.
Since the beginning of the year, tree contractors have trimmed along about 1,300 miles of distribution and transmission lines in the Met-Ed area as part of the company's more than $28 million vegetation management program for 2020. Met-Ed's program remains on schedule to complete an additional 1,800 miles of work by year end.
"Trimming trees around our power lines is critical in our mission to provide reliable electric service for our customers," said Linda Moss, regional president, Met-Ed. "To bolster our efforts, we have increased our 2020 vegetation management budget by about $4 million. We are also targeting dead or damaged off-right-of-way trees that endanger our facilities. Property owners often permit us to perform this work because removing those trees also safeguards their property."
As part of its notification process, Met-Ed works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
Met-Ed is scheduled in 2020 to trim trees along transmission lines and distribution circuits in Easton, Gettysburg, Hamburg, Hanover, Lebanon, Reading, Stroudsburg, York and surrounding areas and Bucks County.
The work includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Aerial Solutions, Asplundh Tree Expert Company, Davey Tree Expert Company, Lewis Tree Service, Nelson Tree Service Inc., Rotor Blade, Treesmiths and York Tree Service Inc.
Met-Ed serves approximately 570,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining FirstEnergy's vegetation management techniques can also be found on YouTube.
View original content to download multimedia:http://www.prnewswire.com/news-releases/met-eds-2020-tree-trimming-program-to-enhance-service-reliability-301078256.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 16, 2020 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming and other vegetation management work in communities across its 34-county service area in Ohio to help enhance service reliability for customers. The work helps to maintain proper clearances around electrical equipment, which can reduce the frequency and duration of power outages, especially those associated with severe weather in the spring and summer months.
Since the beginning of the year, tree contractors have been working to trim trees along nearly 5,000 circuit miles of electric lines in the Ohio Edison service area as part of a $22.5 million vegetation management program for 2020. The work is on track for completion by the end of the year.
"Tree trimming is some of the most important and effective work we do every year to help maintain our power system," said Edward Shuttleworth, regional president of Ohio Edison. "This work pays dividends year-round by reducing tree-related service disruptions, which is paramount these days since people are spending more time in their homes during the coronavirus health emergency."
Tree trimming is being conducted in the following counties and communities throughout the year:
Tree trimming is done on a four-year cycle. The program includes inspecting vegetation near the lines to ensure the trees are pruned in a manner that helps preserve the health of the tree while also maintaining safety near electric facilities. Trees that present a danger or are diseased may be removed.
As part of its notification process, Ohio Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Davey Tree Expert Company, Nelson Tree Service Inc. PennLine Service, Townsend Tree Service and Wright Tree Service.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining FirstEnergy's vegetation management techniques can also be found on YouTube.
View original content to download multimedia:http://www.prnewswire.com/news-releases/ohio-edisons-2020-tree-trimming-program-to-enhance-service-reliability-301078253.html
SOURCE FirstEnergy Corp.
FAIRMONT, W. Virginia, June 16, 2020 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its service area in West Virginia as part of its ongoing efforts to help enhance service reliability. This work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather, such as the storms experienced in recent months.
Since the beginning of the year, tree contractors have trimmed along more than 2,900 miles of distribution and transmission lines in the Mon Power service area as part of the company's $68 million vegetation management program for 2020. Mon Power expects to complete an additional 2,700 miles of work by year end.
Mon Power's tree program includes about $2.5 million to proactively remove more than 25,000 deteriorated ash trees damaged by the Emerald Ash Borer along larger distribution lines and lines located near electric substations. Year to date, almost 10,000 ash trees have been removed.
"Over the past five years, we implemented an aggressive vegetation management plan to clear existing rights-of-way from the substation to the final customer, which reduced the risk of overhanging limbs getting into electrical equipment and causing outages," said Jim Myers, president of FirstEnergy's West Virginia Operations. "Now, our goal is to focus our efforts on removing trees outside the right-of-way, in particular damaged ash trees, before they negatively affect customer service."
Mon Power will be conducting tree trimming work in the following counties and communities throughout the year:
As part of its notification process, Mon Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
Tree trimming is done on a four-year cycle in West Virginia. Vegetation is inspected, and trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. In some cases, trees that are considered to present a danger or are diseased may be removed. Clearing incompatible vegetation under power lines results in easier access for company personnel to inspect and maintain lines and make repairs sooner if an outage occurs.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining FirstEnergy's vegetation management techniques can also be found on YouTube.
View original content to download multimedia:http://www.prnewswire.com/news-releases/mon-powers-2020-tree-trimming-program-to-enhance-service-reliability-301078252.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 16, 2020 /PRNewswire/ -- Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its western Pennsylvania service area as part of its ongoing efforts to help enhance service reliability ahead of the spring and summer storm season.
Since the beginning of the year, tree contractors have been working to trim nearly 1,200 circuit miles of electric lines in the Penn Power service area as part of a $9 million vegetation management program for 2020. Penn Power's 2020 program is on track for completion by the end of the year.
"Tree branches interfering with power lines is a leading cause of service disruptions in the Penn Power territory because we serve very rural, lush areas," said Edward Shuttleworth, regional president of Penn Power and Ohio Edison. "Our tree crews have made great progress over the years maintaining our vegetation to minimize the risk of tree-related outages."
Tree trimming will take place in all or parts of the following communities this year: Adams Township, Beaver Falls, Bedford, Conneaut Lake, Cranberry, Daugherty, Edinburg, Espyville, Evans City, Farrell, Fombell, Forward Township, Franklin, Frizzleburg, Greenville, Grove City, Hartstown, Jackson Township, Jamestown, Lancaster Township, Marion Township, Marshall Township, McCandless Township, Mercer, New Beaver, New Brighton, New Castle, New Sewickley, New Wilmington, North Sewickley, Oakland, Perry Township, Pine Township, Portersville, Pulaski, Richland Township, Sandy Lake, Sharon, Valencia, Villa Maria, Wampum, Warrendale, Wayne Township, West Middlesex, West Pittsburg, Wexford and Zelienople.
As part of its notification process, Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to work taking place.
The vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Davey Tree Expert Company, Nelson Tree Service Inc., Penn Line Service, Townsend Tree Service and Wright Tree Service.
The program includes inspecting trees near the lines to ensure they're pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Penn Power is a subsidiary of FirstEnergy Corp. and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining FirstEnergy's vegetation management techniques can also be found on YouTube.
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SOURCE FirstEnergy Corp.
READING, Pa., June 16, 2020 /PRNewswire/ -- Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its Pennsylvania service areas as part of its ongoing efforts to help enhance electric service reliability.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of tree-related power outages, especially those associated with severe weather such as summer thunderstorms.
Since the beginning of the year, tree contractors have trimmed along about 2,000 miles of distribution and transmission lines in the Penelec area as part of the company's $37.4 million vegetation management program for 2020. Penelec's program remains on track to complete an additional 2,300 miles of work by year end.
The tree trimming work in 2020 includes removal of remaining dead and dying ash trees affected by the Emerald Ash Borer before they can cause damage to Penelec's electrical system. The company is completing its five-year program started in 2015 to proactively remove more than 200,000 affected ash trees along 18,000 miles of power line rights-of-way in the Penelec service area.
"Penelec is committed to enhancing customer service reliability, and our vegetation management program is one of the most important things we do every year to help maintain our electric system and restore power quickly after storms," said Nick Austin, regional president, Penelec. "Our tree trimming is making a positive difference in keeping the lights on for our customers. In 2019, the average number of customers interrupted per tree-related outage dropped 6 percent compared to 2018."
The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
As part of its notification process, Penelec works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
Penelec is scheduled in 2020 to trim trees along transmission lines and distribution circuits in the following locations:
The vegetation management work is conducted by qualified line clearance arborists, including Asplundh Tree Expert Company, Davey Tree Expert Company, Penn Line Service, Hazlett Tree Service, Townsend Tree Service, Lewis Tree Service, and Treesmiths.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining FirstEnergy's vegetation management techniques can also be found on YouTube.
View original content to download multimedia:http://www.prnewswire.com/news-releases/penelecs-2020-tree-trimming-to-enhance-reliability-301078250.html
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., June 16, 2020 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its service area in western Maryland and the Eastern Panhandle of West Virginia as part of its ongoing efforts to help enhance service reliability. This work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather, such as the storms experienced in recent months.
Since the beginning of the year, tree contractors have trimmed along more than 1,365 miles of distribution and transmission lines in the Potomac Edison service area as part of the company's $34 million vegetation management program for 2020. Potomac Edison expects to complete an additional 1,600 miles of work by year end.
The tree trimming work also includes a special program to target the removal of more than 3,700 dead and dying ash trees affected by the Emerald Ash Borer before they can cause damage to Potomac Edison's electrical system.
"Potomac Edison is committed to enhancing customer service reliability, and our vegetation management program is one of the most important things we do every year to help maintain our electric system and restore power quickly after storms," said James Sears, President of Maryland Operations for Potomac Edison. "The tree trimming we have done over the last several years has helped cut the number of tree-related outages by nearly half, significantly reducing service interruptions for our customers. We also expect our special ash tree removal program will further enhance service reliability for our customers."
The vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Lewis Tree, N.G. Gilbert, Nelson Tree Service, Wright Tree Service and Xylem Tree Experts.
As part of its notification process, Potomac Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
Potomac Edison will be conducting tree trimming work in the following counties and communities:
Tree trimming is done on a five-year cycle in Maryland, and a four-year cycle in West Virginia. Vegetation is inspected, and trees are pruned in a manner that helps preserve the health of the tree while also maintaining safety near electric facilities. In some cases, trees that are considered to present a danger or are diseased may be removed. Clearing incompatible vegetation under power lines results in easier access for company personnel to inspect and maintain lines and make repairs sooner if an outage occurs.
Potomac Edison serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining FirstEnergy's vegetation management techniques can also be found on YouTube.
View original content to download multimedia:http://www.prnewswire.com/news-releases/potomac-edisons-2020-tree-trimming-to-enhance-service-reliability-301078248.html
SOURCE FirstEnergy Corp.
BRECKSVILLE, Ohio, June 16, 2020 /PRNewswire/ -- The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming and other vegetation management work in communities across its northeast Ohio service area as part of its ongoing efforts to help enhance electric service reliability. This year's $15.1 million tree-trimming program will help keep power flowing to customers around the clock by preventing tree-related outages, such as those that can occur during the spring and summer storm season.
Since the beginning of the year, tree contractors have trimmed trees along nearly 900 miles of power lines across The Illuminating Company's service area. The company's program remains on track to complete an additional 1,000 miles of tree-trimming work by the end of the year.
"Proactive tree-trimming work undoubtedly helps to improve service reliability for our customers and has remained part of our essential utility service during the current coronavirus health emergency," said Mark Jones, regional president of The Illuminating Company. "In order to keep electricity flowing safely and reliably, we have a responsibility to protect the lines that deliver it to homes and businesses across our region."
Tree trimming is done on a four-year cycle. The work includes inspecting vegetation near power lines to ensure trees are pruned to preserve the health of the tree, while also maintaining safe clearances. Trees that present a danger or are diseased may be removed.
This year, the work is being conducted in the following communities:
As part of its notification process, The Illuminating Company works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The Illuminating Company's vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Davey Tree Expert Company, PennLine Services and Townsend Tree Service.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining and demonstrating tree-trimming work can be found on FirstEnergy's YouTube channel.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 16, 2020 /PRNewswire/ -- Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming and other vegetation management work in communities across its northwest Ohio service area to help enhance service reliability for customers. The work helps to maintain proper clearances around electrical equipment, which can reduce the frequency and duration of power outages, especially those associated with severe weather such as the numerous storms experienced this past winter.
Since the beginning of the year, tree contractors have trimmed along more than 825 circuit miles of electric lines in the Toledo Edison service area as part of the nearly $7.3 million vegetation management program for 2020, with an additional 1,200 miles expected to be completed by year end.
"Tree trimming is one of the most important and effective things we do every year to help maintain and protect our electric system," said Rich Sweeney, regional president, Toledo Edison. "This work pays dividends year-round in fewer service disruptions, particularly during severe storms that can cause tremendous damage to trees, which in turn have the potential to damage our equipment."
Tree trimming will be conducted in the following communities this year:
The tree trimming is done on a four-year cycle. The program includes inspecting vegetation near the lines to ensure the trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased may be removed.
As part of its notification process, Toledo Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Arbormetics Solutions; Asplundh Tree Expert Company; Nelson Tree Service Inc.; and PennLine Service.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining and demonstrating tree-trimming work can be found on FirstEnergy's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/toledo-edisons-2020-tree-trimming-to-enhance-service-reliability-301078246.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., June 16, 2020 /PRNewswire/ -- West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its 24-county Pennsylvania service area as part of its ongoing efforts to help enhance service reliability.
Maintaining proper clearances around electrical equipment can reduce the frequency and duration of tree-related power outages, especially those associated with severe weather such as summer thunderstorms.
Since the beginning of the year, tree contractors have trimmed about 2,000 circuit miles of electric lines in the West Penn Power service area as part of the $46 million vegetation management program for 2020. West Penn Power's program remains on track to complete an additional 2,600 miles of work by year end.
"Our tree trimming is making a difference in keeping the lights on for our customers and more quickly restoring service, particularly after severe weather," said John Rea, regional president of West Penn Power. "We are making tremendous progress in our proactive removal of tens of thousands of deteriorated ash trees along our electric distribution lines harmed or killed by the Emerald Ash Borer."
West Penn Power's tree program in 2020 includes about $4 million to remove about 26,000 dead and dying ash trees along distribution lines in western Pennsylvania. Crews have removed about 9,600 ash trees so far this year.
West Penn Power is scheduled in 2020 to trim trees along transmission lines and distribution circuits in the following counties:
The tree trimming program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
As part of its notification process, West Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by qualified line clearance arborists under the company's direction, including Asplundh Tree Expert Company, Jaflo Inc., Lewis Tree Service Inc., Penn Line Service Inc., Davey Tree Expert Company, and Townsend Tree.
West Penn Power serves approximately 725,000 customers within in 24 counties within central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr. A video explaining FirstEnergy's vegetation management techniques can also be found on YouTube.
View original content to download multimedia:http://www.prnewswire.com/news-releases/west-penn-powers-2020-tree-trimming-program-to-enhance-service-reliability-301078243.html
SOURCE FirstEnergy Corp.
BRECKSVILLE, Ohio, June 4, 2020 /PRNewswire/ -- The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), plans to spend $4 million in 2020 to continue enhancing its underground power system in the Greater Cleveland area. Over the past five years, the company has invested more than $15 million in upgrades to its underground system to support service reliability for nearly 536,000 of its customers in Cuyahoga County.
The Illuminating Company maintains 11,000 miles of underground wire across the region. The company plans to upgrade approximately eight miles of underground lines in Strongsville and 15 miles across the Cleveland area in 2020. Older, uncoated underground lines will be replaced with new power lines coated in a thick shell to make them more durable against elements like dirt, rocks, lightning and water. Since work began in 2015 to harden the system, the company has replaced more than 90 miles of underground lines that served customers well for many years but were ready for an upgrade.
"This work demonstrates our commitment to hardening our system against power outages so we can keep power flowing to our customers around the clock," said Mark Jones, regional president of The Illuminating Company. "We operate one of the nation's largest underground electric systems, and these upgrades allow us to continue providing safe, dependable power to our customers."
To determine the best locations for the underground upgrades, utility personnel reviewed outage patterns across The Illuminating Company's service territory and identified areas that would most benefit. More than one-third of company's completed work was performed in Strongsville, where the company maintains about 1,200 miles of underground lines serving 40,000 customers.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of The Illuminating Company crews upgrading the underground power system are available for download on Flickr. Video of the work being explained and performed can be found on the company's YouTube channel.
View original content to download multimedia:http://www.prnewswire.com/news-releases/work-underway-to-enhance-the-illuminating-companys-underground-power-system-301071009.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 1, 2020 /PRNewswire/ -- FirstEnergy's (NYSE: FE) Ohio residential customers who take generation service from the utility will pay lower prices on their electric bill starting June 1.
The lower prices are the result of recent auctions held by FirstEnergy to purchase energy supply for customers who are not served by a competitive generation supplier. Residential customers who receive all facets of their electric service from Ohio Edison, The Illuminating Company and Toledo Edison using 750 kilowatt-hours of electricity, on average, will save about $40 annually compared to utility generation pricing in effect previously. In addition, customers whose price per kilowatt-hour from a competitive supplier is tied to the utility "price to compare" are also expected to benefit from savings.
"Hot, humid summer weather, greater use of air conditioning, and more time at home during the coronavirus health emergency can increase electrical use, so any opportunity to save on electric bills is helpful for customers," said Gary Grant, president of Ohio Operations, FirstEnergy. "Whether or not a customer shops for generation, their local FirstEnergy utility will continue to safely and reliably deliver electricity to homes, restore power after a storm and provide customer service."
Utility customers in Ohio can shop for their electric generation. While the utility still delivers the electricity to homes and businesses and continues to maintain the poles and wires, customers can choose to purchase their electricity from competitive generation suppliers. If customers do not choose a supplier, the utility secures the electric generation needed to serve these customers through an auction process overseen by the Public Utilities Commission of Ohio (PUCO).
The utility's generation price also provides the basis for the "price to compare" listed on a customer's billing statement. The PUCO's Apples to Apples comparison charts at www.energychoice.ohio.gov provide customers with a snapshot comparison of current electric supplier offers and contract terms to evaluate against the price to compare.
CRA International served as the independent auction manager for FirstEnergy, conducting six auctions over the past 31 months. Results were blended together to ensure the most competitive, stable generation price for customers and filed with the PUCO.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/firstenergys-ohio-residential-customers-taking-generation-service-from-utility-will-pay-lower-prices-301068688.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., May 29, 2020 /PRNewswire/ -- Customers of FirstEnergy Corp.'s (NYSE: FE) Pennsylvania utilities Metropolitan Edison (Met-Ed), Pennsylvania Electric Company (Penelec) and West Penn Power can receive $50 by recycling an old, working refrigerator or freezer when the utilities' appliance recycling program resumes on June 1. The program had been suspended since March 18 due to the coronavirus health emergency.
The program allows customers to responsibly recycle inefficient appliances in an environmentally friendly way. Customers may also include a working air conditioner or dehumidifier along with a qualifying refrigerator or freezer to receive an additional $25.
A new, no contact pick-up process is in place to help protect health and safety by eliminating entry into homes and personal contact during the appointment. Pick-ups will be limited to appliances located outdoors or in a garage, driveway, porch or outbuilding. Customers can call 888-277-0527 or visit www.energysavePA.com to schedule a pickup.
"The Appliance Turn-in Program has been one of our most popular energy efficiency programs and we felt a responsibility to our customers to try and restart the program while taking the proper precautions," said Nicole Williams, Manager of Energy Efficiency Residential Program Implementation at FirstEnergy. "Safety remains a top priority both for our contractors and customers as we restart the program."
The pick-ups will be processed by third-party contractor ARCA, which specializes in providing turnkey appliance recycling and replacement services for utilities and other sponsors of energy efficiency programs. Customers can visit www.energysavePA.com to schedule an appointment and for a comprehensive list of all available energy efficiency programs.
Met-Ed serves about 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
View original content to download multimedia:http://www.prnewswire.com/news-releases/firstenergys-appliance-recycling-program-set-to-return-in-pennsylvania-301067940.html
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., May 29, 2020 /PRNewswire/ -- Customers of Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), can receive $75 by recycling an old, working refrigerator or freezer when the company's appliance recycling program resumes on June 1. The program had been suspended since March 18 due to the coronavirus health emergency.
The program allows customers to responsibly recycle inefficient appliances in an environmentally friendly way. Customers may also include a working air conditioner or dehumidifier along with a qualifying refrigerator or freezer to receive an additional $25.
A new, no contact pick-up process is in place to help protect health and safety by eliminating entry into homes and personal contact during the appointment. Pick-ups will be limited to appliances located outdoors or in a garage, driveway, porch or outbuilding. Customers can call 888-277-0527 or visit www.energysaveMD.com to schedule a pickup.
"The Appliance Turn-In Program has been one of our most popular energy efficiency programs, and we felt a responsibility to our customers to try and restart the program while taking the proper precautions," said Nicole Williams, Manager of Energy Efficiency Residential Program Implementation at FirstEnergy. "Safety remains a top priority both for our contractors and customers as we restart the program."
The pick-ups will be processed by third-party contractor ARCA, which specializes in providing turnkey appliance recycling and replacement services for utilities and other sponsors of energy efficiency programs. Customers can visit www.energysaveMD.com to schedule an appointment and for a comprehensive list of all available energy efficiency programs.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 270,000 customers in seven Maryland counties. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/firstenergys-appliance-recycling-program-set-to-return-in-maryland-301067937.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 19, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced a series of management changes that supports the company's succession planning process, broadens the experience of key executives, and further positions the company for long-term, customer-focused growth. All changes will be effective on May 24, 2020.
Steven E. Strah has been elected by the Board of Directors to serve as president, FirstEnergy Corp. Strah will continue reporting to Charles E. Jones, who has been FirstEnergy's president, chief executive officer and member of the board since 2015. Jones will continue to serve as CEO and a member of the board.
"Steve is a strategic and driven leader with a deep understanding of FirstEnergy's business and the needs of our customers, employees and investors," Jones said. "He is committed to driving our long-term, customer-focused growth plans as well as our mission to be a forward-thinking electric utility, and I look forward to working with him in his new role."
As president, Strah will oversee FirstEnergy Utilities; Corporate Services and Information Technology; Finance; Product Development, Marketing and Branding; External Affairs; Rates and Regulatory Affairs; and Strategy. Strah began his career with The Illuminating Company in 1984 and served in a variety of utility leadership roles including regional president of Ohio Edison; vice president, Distribution Support; and senior vice president, FirstEnergy Utilities. He was elected senior vice president and chief financial officer in 2018.
K. Jon Taylor has been elected senior vice president and chief financial officer, reporting to Strah. As CFO, Taylor will oversee Accounting, Treasury and Investor Relations. He joined FirstEnergy in 2009 from PricewaterhouseCoopers and held key roles in FirstEnergy's finance department, including vice president, controller and chief accounting officer, before being named president, Ohio Operations in 2018, and promoted to vice president, Utility Operations, in 2019.
The company also announced that Robert P. Reffner has been elected senior vice president and chief legal officer, reporting to Jones. Reffner will continue to lead the Corporate, Legal, Information & Compliance and Real Estate departments and will now oversee Risk & Internal Auditing. He will also oversee efforts to develop the Innovation Center, a new venture that will apply data analytics, technologies and creative problem-solving to accelerate innovation within FirstEnergy. Reffner joined FirstEnergy in 2007 and was elected senior vice president and general counsel in 2018.
Ebony L. Yeboah-Amankwah was elected vice president, general counsel and chief ethics officer, reporting to Reffner. Yeboah-Amankwah joined FirstEnergy in 2005 and was named vice president, deputy general counsel, corporate secretary and chief ethics officer in 2018.
Mary M. Swann has been elected Corporate Secretary, reporting to Yeboah-Amankwah. Swann joined FirstEnergy in 2018 from Diebold Nixdorf, where she served as Vice President, Executive Corporate Counsel and Assistant Corporate Secretary.
In FirstEnergy's Utility operations, John Skory has been named vice president, Utility Operations. He will report to Samuel L. Belcher, senior vice president and president, FirstEnergy Utilities. Skory began his career with the Illuminating Company in 1977 and was named president, Ohio Operations, in 2019.
Gary W. Grant, Jr. becomes president, Ohio Operations, reporting to Skory. Grant joined FirstEnergy in 2008 and was named vice president, Customer Service, in 2015.
Michelle R. Henry has been named vice president, Customer Service, reporting to Belcher. Henry began her career with the Illuminating Company in 1988 and was named director, FERC and State Regulatory Compliance, in 2018.
James H. Myers III has been named president, West Virginia Operations. Myers will take over for Holly C. Kauffman, who is retiring after 36 years of service to the company, and eight years as president of West Virginia Operations. Myers, who will report to Skory, joined FirstEnergy in 1986 and was named director, Operations Services, Penelec, in 2019.
Full biographies for each of these executives are available on FirstEnergy's website. Photos are available on Flickr.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the extent and duration of the novel coronavirus (known as COVID-19) and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, , or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q together with any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 8, 2020 /PRNewswire/ -- For the second consecutive year, FirstEnergy Corp. (NYSE: FE) has been recognized by DiversityInc as one of the top six utilities in the nation for its workforce diversity and inclusion initiatives, moving up one spot this year from fifth to fourth place. In addition, the company ranked eight out of 11 on the inaugural DiversityInc list of Top Companies for Board of Directors.
Each year, DiversityInc evaluates companies based on survey responses that detail the makeup of their workforce, talent programs, leadership accountability, workplace practices, philanthropy and supplier diversity. An overall Top 50 list is developed from the survey data, and subsets of the same data are used to determine several specialty lists, including utilities.
New to the DiversityInc specialty lists for 2020 is the Top Companies for Board of Directors. To determine the Board of Directors list, DiversityInc considered the diversity of each company's board of directors, as well as participation of diverse members on key committees, such as governance and compensation.
"FirstEnergy's selection for two of DiversityInc's lists this year is a testament to our unwavering commitment to our core value of diversity and inclusion," said Christine L. Walker, FirstEnergy's senior vice president and chief human resources officer. "We will continue to further embed diversity and inclusion in FirstEnergy's culture, allowing us to better serve our customers and shareholders and provide a rewarding work experience for all employees."
FirstEnergy continues to build momentum in its diversity and inclusion efforts. The company's employee business resource groups (EBRGs) are growing and playing a key role in engaging employees and creating an inclusive environment. Additionally, the company has focused on enhancing its hiring, recruiting and talent development processes to center around diversity and inclusion and give employees greater transparency into the talent management process.
Earlier this year, FirstEnergy was named to Forbes magazine's Best Employers for Diversity 2020 list, as well as to the Bloomberg Gender-Equality Index (GEI) for the second consecutive year. Additionally, FirstEnergy received a score of 80 out of 100 for its initiatives to support LGBTQ employees in the company's first year participating in the Human Rights Campaign's 2020 Corporate Equality Index.
The mission of DiversityInc is to bring education and clarity to the business benefits of diversity. The DiversityInc Top 50 Companies for Diversity list began in 2001, with more than 1,800 companies participating in the 2019 survey. To view DiversityInc's specialty lists as well as the Top 50 list, visit www.diversityinc.com/top50.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter: @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 6, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has deployed an app that allows utility personnel to report avian issues in real time, streamlining the process to protect nesting birds and enhance electric service reliability. The app arms field workers with the ability to submit photos and answer key questions using a drop-down menu to report the locations of bird nests or other bird-related issues along the company's power lines, all from their mobile devices.
Protecting birds is nothing new to FirstEnergy. Over the past two years, the company has made great strides enhancing its avian protection efforts, including the implementation of drones to complete bird nest inspections and donation of funds and materials to install nesting platforms in areas where birds nest on electrical equipment. These ongoing efforts continue to help reduce power outages caused by nesting birds.
"Efficiently identifying and responding to bird activity along our power lines is critical to preventing service disruptions and protecting wildlife," said Amy Ruszala, an advanced scientist and in-house avian expert at FirstEnergy. "This new, all-in-one app saves our employees the time of having to return to the office to complete and submit paperwork and enables them to report issues within a few clicks from their phones."
The app – which was designed exclusively for FirstEnergy by an outside environmental firm – was recently rolled out by FirstEnergy's two electric companies with the highest level of bird activity, the Pennsylvania Power Company (Penn Power) and Jersey Central Power and Light (JCP&L). FirstEnergy plans to launch the app across its entire service area over the next year as more employees are trained to use it.
Disturbing or removing bird nests from electrical equipment and utility poles can be a complicated task due to environmental regulations. If a nest is situated on or near electrical equipment and poses a serious threat to the birds' safety and electric service reliability, FirstEnergy's environmental team works with state wildlife officials to develop a plan or course of action to remove or relocate the nests while protecting the birds.
"Digital reporting through the app allows us to expedite the approval process and documents each case from start to finish so we can access the information for many years to come if needed," said Ruszala.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 23, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported first quarter 2020 GAAP earnings of $74 million, or $0.14 per basic and diluted share of common stock, on revenue of $2.7 billion, including a non-cash mark-to-market adjustment on the company's pension and other post-employment benefit (OPEB) plans. In the first quarter of 2019, FirstEnergy reported GAAP earnings of $315 million, or $0.59 per basic and diluted share of common stock, on revenue of $2.9 billion. Results for both periods include the impact of special items listed below.
Operating (non-GAAP) earnings* for the first quarter of 2020 were $0.66 per share, above the midpoint of the company's earnings guidance. In the first quarter of 2019, operating (non-GAAP) earnings were $0.67 per share.
"During this global health crisis, we continue working to provide the safe, reliable energy our customers and communities need, while taking extra steps to keep our employees healthy on the job," said Charles E. Jones, FirstEnergy president and chief executive officer. "While the broad, long-term implications on our economy are still being understood, FirstEnergy is uniquely well-positioned to navigate this environment, and we expect to continue meeting our commitments to our stakeholders."
For the second quarter of 2020, FirstEnergy is providing a GAAP and operating (non-GAAP) forecast range of $260 million to $315 million, or $0.48 to $0.58 per share based on 542 million shares outstanding.
For 2020, FirstEnergy is updating its full-year GAAP earnings forecast range to $1.02 billion to $1.13 billion, or $1.88 to $2.08 per share, based on 542 million shares. The company is affirming its full-year operating (non-GAAP) guidance of $2.40 to $2.60 per share.
FirstEnergy is also affirming its long-term growth rate projections. The company remains on track to achieve 6% to 8% compound annual operating (non-GAAP) earnings growth (CAGR)** from 2018 to 2021, as well as its extended CAGR of 5% to 7% through 2023. That projection includes plans to issue up to $600 million of equity annually starting in 2022 to fund the company's regulated growth initiatives.
First Quarter Results
In FirstEnergy's Regulated Distribution business, first quarter 2020 operating results benefited from the implementation of decoupled rates in Ohio, incremental rider revenues in Ohio and Pennsylvania, and lower expenses compared to the first quarter of 2019. These factors were offset by the impact of mild temperatures on distribution deliveries, the absence of the Ohio Distribution Modernization Rider, and higher depreciation and net financing costs.
Total distribution deliveries decreased 7.8% compared to the first quarter of 2019 due to mild temperatures and lower usage. Residential sales decreased 12.6%, driven by a nearly 18% decrease in heating degree days compared to the first quarter of 2019. Commercial deliveries decreased 7.5%, while sales to industrial customers decreased 3.0%.
In the Regulated Transmission business, first quarter 2020 operating results increased primarily due to higher rate base associated with the company's ongoing investments in its Energizing the Future transmission program, which offset higher net financing costs.
In the Corporate/Other segment, first quarter 2020 operating results reflect lower expenses compared to the same quarter of 2019.
Consolidated GAAP Earnings Per Share (EPS) to Operating (Non-GAAP) EPS* Reconciliation | |||||||||
First Quarter | 2020 Estimates | ||||||||
2020 | 2019 | Second Quarter | Full Year | ||||||
Net Income attributable to Common | $74 | $315 | $260 – $315 | $1,020 – $1,130 | |||||
Basic EPS (GAAP) | $0.14 | $0.59 | $0.48 – $0.58 | $1.88 – $2.08 | |||||
Excluding Special Items*: | |||||||||
Mark-to-market adjustments – | |||||||||
Pension/OPEB actuarial assumptions | 0.59 | — | — | 0.59 | |||||
Regulatory charges | 0.01 | (0.01) | — | 0.01 | |||||
Exit of competitive generation | (0.08) | 0.09 | — | (0.08) | |||||
Total Special Items* | 0.52 | 0.08 | — | 0.52 | |||||
Operating EPS (Non-GAAP) | $0.66 | $0.67 | $0.48 – $0.58 | $2.40 – $2.60 | |||||
Per share amounts for the special items and earnings drivers above and throughout this report are based on the after-tax effect of each item divided by the number of shares outstanding for the period assuming full impact of dilution from the $2.5 billion equity issuance in January 2018. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount if deductible/taxable. The income tax rates range from 21% to 29% in all periods. Basic EPS (GAAP) is based on 541 million and 530 million shares for the First Quarter of 2020 and 2019, respectively, and 542 million shares for the Second Quarter and Full Year 2020. Operating EPS (Non-GAAP) is based on 541 million and 539 million shares for the First Quarter of 2020 and 2019, respectively, and 542 million shares for the Second Quarter and Full Year 2020. |
Non-GAAP financial measures
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented in the first quarter of 2019 and full year 2019 by 539 million shares, 541 million shares in the first quarter of 2020, and 542 million shares in the second quarter of 2020 and full year 2020. which reflects the full impact of share dilution from the equity issuance in January 2018. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Investor Materials and Teleconference
FirstEnergy's Strategic and Financial Highlights and Investor Factbook are posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on the First Quarter 2020 Financial Results link.
The company invites investors, customers and other interested parties to listen to a live webcast of its teleconference for financial analysts and view presentation slides at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the First Quarter 2020 Earnings Webcast link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the extent and duration of the novel coronavirus (known as COVID-19) and the impacts to our business, operations and financial condition resulting from the outbreak of COVID-19 including, but not limited to, disruption of businesses in our territories, volatile capital and credit markets, legislative and regulatory actions, the effectiveness of our pandemic and business continuity plans, the precautionary measures we are taking on behalf of our customers and employees, our customers' ability to make their utility payment and the potential for supply-chain disruptions; mitigating exposure for remedial activities associated with retired and formerly owned electric generation assets risks associated with the decommissioning of TMI-2; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, executing our transmission and distribution investment plans, controlling costs, improving our credit metrics, strengthening our balance sheet and growing earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, , or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in our Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on our common stock during any period may in the aggregate vary from prior periods due to circumstances considered by our Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q together with any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 17, 2020 /PRNewswire/ -- To protect the health and safety of its shareholders, employees and other stakeholders during the coronavirus pandemic, FirstEnergy Corp. (NYSE: FE) today announced it is changing the format of its 2020 Annual Meeting of Shareholders to a virtual meeting, instead of an in-person event. The live audio webcast will take place at 8 a.m. EDT on Tuesday, May 19, 2020, with online access beginning at 7:30 a.m. EDT. FirstEnergy currently plans to resume its in-person annual meeting format in 2021.
All FirstEnergy shareholders as of the close of business on March 20, 2020, the record date for the annual meeting, are invited to access, participate in and vote at the live virtual meeting. Any eligible shareholder who wishes to join the live webcast, including individuals who previously registered to attend the meeting in person, must follow the steps below to preregister for the event prior to 2 p.m. EDT on May 18, 2020.
Instructions to Preregister for the Virtual Meeting
Shareholders who hold shares registered directly in their name with our transfer agent, American Stock Transfer & Trust Company, LLC; participants in the FirstEnergy Corp. and Energy Harbor Savings Plans; or employees who hold unvested registered stock may preregister to access and participate in the meeting by visiting www.CESVote.com, then entering the control number printed on your Proxy Card or meeting notice. On the voting page, select the link, "Click here to preregister for the online meeting."
If you own shares through a brokerage, bank or other institutional account, you may preregister to access, participate and vote at the virtual annual meeting by asking your institution to provide you with a legal proxy. Submit a legible copy or photograph of that document to FERegister@Proxy-Agent.com to receive a new control number and instructions to access the meeting.
Beneficial shareholders who do not elect to obtain a legal proxy may preregister to listen to the virtual meeting as a guest. Instructions are available in the company's Proxy Statement. Please see Q&A 15, "Advance Registration Instructions – All other shareholders," on page 106.
Questions at the Meeting
During the webcast, participants will be invited to submit questions to FirstEnergy by accessing the "Ask a Question" text box.
Questions pertinent to the Annual Meeting and related to our business will be answered during the webcast, subject to time constraints. Questions that cannot be answered live due to time constraints will be posted and answered on our Investor Relations website, www.FirstEnergyCorp.com/IR, as soon as practical after the meeting. FirstEnergy asks participants to follow its meeting Rules of Conduct, which will be on the event website.
If You Need Assistance
If you need assistance obtaining a legal proxy, registering in advance for the virtual meeting, or voting, please contact our proxy solicitor, Morrow Sodali, toll-free at (800) 461-0945.
FirstEnergy encourages all eligible shareholders to vote and submit their proxy in accordance with their voting instructions. The company requests that shareholders submit votes early to help avoid additional solicitation costs, however shareholders who preregister to participate in the meeting may also vote during the meeting at www.CESVote.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 16, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the first quarter of 2020 after markets close on Thursday, April 23. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Friday, April 24. 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 slides via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its first quarter presentation and supporting materials to the investor section of the website after markets close on April 23.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., April 9, 2020 /PRNewswire/ -- With the coronavirus pandemic affecting the regional workforce, financial assistance is available for customers of FirstEnergy Corp. (NYSE: FE) utilities Metropolitan Edison (Met-Ed), Pennsylvania Electric Company (Penelec), West Penn Power and Pennsylvania Power (Penn Power) who need help paying their electric bills.
Dollar Energy, which administers financial aid programs across Pennsylvania, has approximately $1 million available in its emergency hardship fund to assist FirstEnergy customers.
The economic slowdown precipitated by Pennsylvania's stay-at-home orders to halt the spread of coronavirus has resulted in new financial hardships for many FirstEnergy customers. This may be the first time they have ever needed assistance paying their electric bills.
Assistance to qualifying customers is available through the Dollar Energy Fund and the Pennsylvania Customer Assistance Program (PCAP).
To protect customers from the challenges of living without electricity and to limit interactions between employees and the general public, FirstEnergy operating companies recently discontinued service shutoffs for past-due customers during the coronavirus health emergency. Although their service will not be terminated, customers may still receive shut-off notices. These notices are important because they serve as proof of situation to qualify for some assistance programs.
For more information and frequently asked questions about FirstEnergy's response to the coronavirus emergency, visit https://firstenergycorp.com/help/safety/coronavirus.html.
Met-Ed serves about 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
Penn Power serves approximately 163,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower.
West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 31, 2020 /PRNewswire/ -- The FirstEnergy Foundation is donating $500,000 to 42 local food banks and hunger centers in communities served by FirstEnergy Corp. (NYSE: FE) electric utility operating companies in Ohio, Pennsylvania, New Jersey, West Virginia and Maryland to help provide essential food and nutrition to those who need it the most during the COVID-19 pandemic.
In addition, The FirstEnergy Foundation will accelerate approximately $1.5 million in matching contributions to 116 United Way agencies throughout the company's service territory to help support vital health and human services organizations during these uncertain times.
"The FirstEnergy Foundation will infuse $2 million into communities we serve to help families in need during this unprecedented crisis," said Lorna Wisham, vice president, Corporate Affairs & Community Involvement and president of the FirstEnergy Foundation. "The pandemic requires an urgent and strategic response from the philanthropic community, and fast-tracking funding to our United Way agencies for operational and program support is a way FirstEnergy can help."
The COVID-19 crisis also unfolded during FirstEnergy's annual employee Harvest for Hunger campaign. Because most fundraising activities were cancelled due to COVID-19 restrictions, the FirstEnergy Foundation is donating to local hunger centers because the need is greater than ever due to the economic fallout from this ongoing health emergency.
As part of the company's annual United Way campaign, the FirstEnergy Foundation matches employee contributions to their local agencies on a dollar-for-dollar basis. Typically, the matching funds are dispersed to the United Way agencies on a rolling basis throughout the year. Because of the current dire economic climate, accelerated payments will be made to 116 United Way agencies in the FirstEnergy footprint this week.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 27, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) remains focused on keeping the lights on for its customers as the nation addresses the coronavirus health emergency. As states issue stay-at-home orders and businesses shut down, FirstEnergy takes its responsibility to maintain and operate critical infrastructure seriously. The company is taking a well-informed and measured response that protects its employees and the public while delivering safe, reliable and cost-effective electricity.
Utility operations are considered an essential service in all six states where FirstEnergy operates and include routine maintenance, reliability enhancement projects, tree trimming work to help prevent tree-related outages, and meter reading. In states where FirstEnergy does not have smart meters, reading meters outside of homes and businesses helps ensure that monthly bills are accurate. This also prevents a prolonged period of estimated bills, as residential electric use is expected to spike for the foreseeable future as customers spend time in their homes around the clock.
To safeguard the health and safety of FirstEnergy employees, contractors and its six million customers, the company's Corporate Health and Safety group has implemented precautions aligned with the company's medical consultants, the Centers for Disease Control and Prevention (CDC), the National Institutes of Health (NIH) and the World Health Organization (WHO). Actions include:
"Safety is a core value at FirstEnergy, and we care deeply about our employees who are working hard every day to ensure the safe and reliable operation of our electric system," said Charles E. Jones, president and CEO of FirstEnergy. "The coronavirus health emergency is likely to disrupt our daily lives for quite some time, and we are taking extensive steps to protect our employees and the public every step of the way. FirstEnergy is prepared to face this crisis and keep power flowing around the clock."
As of March 26, the company has not had a confirmed case of COVID-19 among its 12,000 employees. A process has been established to respond swiftly to any potential employee illness. Measures include providing expert evaluations, requiring 14-day quarantines for potentially infected employees and their immediate coworkers, cleaning and disinfecting any impacted areas using methods approved by the CDC, and enhanced cleaning of workplaces, including offices and shop locations.
FirstEnergy will continue to monitor the COVID-19 situation and take appropriate actions in accordance with CDC recommendations while also providing the energy customers need around the clock.
To protect customers from the challenges of living without electricity and to limit interactions between employees and the general public, effective March 13, FirstEnergy operating companies discontinued service shutoffs for past-due customers. Any customers who are or have been without power can contact their utility company. Customers whose service was disconnected for nonpayment prior to March 13 can be reconnected upon request. For more information and frequently asked questions about FirstEnergy's response to the coronavirus emergency, visit https://firstenergycorp.com/help/safety/coronavirus.html.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 17, 2020 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 39 cents per share of outstanding common stock. The dividend will be payable June 1, 2020, to shareholders of record at the close of business on May 7, 2020.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; the risks and other factors discussed from time to time in our Securities and Exchange Commission, or SEC, filings and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 13, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is committed to keeping the lights on through the coronavirus emergency.
Effective immediately, the company's ten electric utilities have taken action to maintain reliable service to customers by discontinuing power shutoffs for customers who are past due on their electric bills. This action will also help limit in-person interactions between company employees and the public. FirstEnergy will continue to monitor the coronavirus response situation and adjust the shutoff policy in the future as circumstances develop.
In addition, residential customers who are facing a hardship due to the lack of income during this time should contact the company as soon as they are aware that paying their bill might become difficult. Options include budget billing, a program that averages usage over 12 months to offer the same bill amount each month, as well as energy assistance programs or other payment arrangements based on customers' situations and state of residence.
Customers who are facing hardships should call customer service at their utility company at the following numbers:
o Ohio Edison | 1-800-633-4766 |
o The Illuminating Company | 1-800-589-3101 |
o Toledo Edison | 1-800-447-3333 |
o Met-Ed | 1-800-545-7741 |
o Penelec | 1-800-545-7741 |
o Penn Power | 1-800-720-3600 |
o West Penn Power | 1-800-686-0021 |
o Jersey Central Power & Light | 1-800-662-3115 |
o Mon Power | 1-800-868-0022 |
o Potomac Edison | 1-800-686-0011 |
FirstEnergy is dedicated to safety, reliability and operational excellence. Its ten electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
NEW CASTLE, Pa., Feb. 21, 2020 /PRNewswire/ -- As part of its ongoing efforts to protect nesting birds and prevent power outages, The Pennsylvania Power Company (Penn Power), a subsidiary of FirstEnergy Corp. (NYSE: FE), partnered with the Erie Bird Observatory to install two 55-foot wooden poles with nesting platforms in Mercer and Crawford counties. This proactive work will help prevent electrical service disruptions by discouraging ospreys from nesting on utility poles when they return to the area in the coming weeks.
A $5,000 FirstEnergy Foundation grant was awarded to the Erie Bird Observatory in the fall of 2019 to fund the construction of several nesting platforms across western Pennsylvania. Penn Power partnered with the organization to install the new nesting platforms adjacent to utility poles that have experienced high levels of osprey activity.
"We've experienced a significant spike in the osprey population over recent years, and we anticipate this year will be no different since the birds typically return to the same nesting sites as the year before," said Amy Ruszala, an environmental scientist and avian expert at FirstEnergy. "Our goal is to not only remove unoccupied osprey nests that are situated on our utility poles, but also take action to prevent the birds from making new nests on our equipment this spring."
Birds of prey, like ospreys, often seek out tall structures including electric transmission towers and poles to build their nests, which can measure up to three feet in width. These nesting habits often place the birds near energized electrical equipment – jeopardizing their well-being and potentially causing power outages.
Because ospreys prefer to nest near large bodies of water, the 5-square-foot wooden nesting platforms were installed on top of new wooden poles located near utility poles and electric equipment that previously served as prime real estate for the birds near the Route 18 causeway over the Shenango River Lake.
"We are proud to partner with Penn Power to have these nest structures in place before the ospreys return to the area in late March and take up nesting this spring," said Sarah Sargent, executive director and founder of the Erie Bird Observatory. "Our partnership is a win-win because it helps keep the nesting birds safe and also benefits the electric customers."
Utility personnel also worked closely with FirstEnergy's environmentalists and state wildlife officials to remove nests from substations and transmission towers while the birds were south for the winter. Ospreys are a month away from the onset of their breeding season and will lay their eggs between April and July.
Penn Power is a subsidiary of FirstEnergy and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Penn Power utility personnel installing the nesting platforms are available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Feb. 18, 2020 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) today filed an electric rate plan with the New Jersey Board of Public Utilities (BPU) that will support service reliability enhancements made by the utility in recent years as well as recover costs incurred to restore power to customers following severe storms.
Since January 1, 2016, JCP&L has invested $1 billion, including capital projects, to strengthen its electric system and meet reliability standards set by the BPU. Projects include reinforcing electric infrastructure on the Barrier Islands, completing substation flood mitigation, deploying equipment that automatically transfers customers to adjacent circuits if an issue is detected, and accelerating vegetation management work designed to reduce the frequency and duration of power outages.
JCP&L also incurred significant costs related to power restoration following numerous storm events since its last rate case, including Winter Storms Riley and Quinn in March 2018, Winter Storm Quiana in February 2019 and Winter Storm Ezekiel in December 2019. By the end of 2019, JCP&L's accumulated unrecovered storm costs had grown to more than $300 million.
"Since 2016, we have made investments in our infrastructure that benefit customers by enhancing the resiliency of our system, and that grid hardening work will continue to keep up with the ever-increasing demands of our customers," said Jim Fakult, president of JCP&L. "The same concept applies to ensuring recovery of recent storm-related costs. With more frequent severe weather events expected in the years ahead, we need to be prepared to deploy the resources necessary to restore service to customers as safely and quickly as possible."
Upon approval of the filing, JCP&L customers would continue to pay the lowest residential electric rates among New Jersey's four regulated electric distribution companies. The result would be an 8.5 percent overall rate increase for the average JCP&L residential customer using 766 kilowatt hours per month – a monthly increase of $8.73.
Under this filing, JCP&L would also offer new options for municipal LED streetlights, consistent with Governor Murphy's recently released Energy Master Plan, which encourages increased adoption of this more energy-efficient and environmentally friendly lighting technology.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 10, 2020 /PRNewswire/ -- With Valentine's Day around the corner, FirstEnergy is warning customers about the public safety risks associated with helium-filled foil balloons. While these metallic balloons have increased in popularity as party and celebration decorations, they have also become the cause of many power outages.
"These balloons are attractive and relatively inexpensive decorations, but their metallic coating conducts electricity and poses a risk to our electric system," said Lisa Rouse, director of outage management at FirstEnergy. "Stray balloons that drift into high-voltage equipment often cause power outages and other safety issues that impact our system."
Foil balloons were to blame for nearly 220 power outages across FirstEnergy's six-state service area in 2018 and 2019. Due to the popularity of Valentine's Day balloons, February typically marks the onset of a dramatic increase in outages caused by adrift metallic balloons that peaks in June, when warm weather takes celebrations and picnics outdoors.
To help ensure holidays and celebrations are enjoyed responsibly, customers are encouraged to keep the following balloon safety tips in mind:
"We realize many people are simply unaware of the dangers associated with releasing these foil balloons outdoors, and by educating the public we can help keep our local communities safe while reducing the risk of any electric service disruptions," said Rouse.
For more information on outdoor electrical safety, visit www.firstenergycorp.com/safety.
FirstEnergy (NYSE:FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
Editor's Note: A video discussing the hazards posed by foil balloons and tips for safe disposal is available here on FirstEnergy's YouTube channel.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 7, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported full-year 2019 GAAP earnings of $908 million, or $1.70 per basic share ($1.68 diluted), on revenue of $11.0 billion. This compares to 2018 GAAP earnings of $981 million, or $1.99 per basic and diluted share of common stock, on revenue of $11.3 billion. Results for both periods include the impact of special items listed below.
Operating (non-GAAP) earnings* for 2019 were $2.58 per share, at the top end of the company's most recent earnings guidance. In 2018, operating (non-GAAP) earnings were $2.59 per share.
"This was another great year for FirstEnergy, marked by solid execution on initiatives that benefit our customers, shareholders, communities and our company," said Charles E. Jones, FirstEnergy president and chief executive officer. "In 2020, we expect to build on our progress as we continue implementing our long-term, customer-focused growth plans."
FirstEnergy is affirming its long-term growth rate projections. The company remains on track to achieve 6% to 8% compound annual operating (non-GAAP) earnings growth (CAGR)** from 2018 to 2021, as well as its extended CAGR of 5% to 7% through 2023. That projection includes plans to issue up to $600 million of equity annually starting in 2022 to fund the company's regulated growth initiatives.
For 2020, FirstEnergy is updating its full-year GAAP earnings forecast range to $900 million to $1.41 billion, or $1.66 to $2.60 per share, based on 542 million shares. The company is affirming its full-year operating (non-GAAP) guidance of $2.40 to $2.60 per share.
For the first quarter of 2020, FirstEnergy is providing a GAAP forecast ranging from a loss of $(75) million to earnings of $380 million, or $(0.14) to $0.70 per share based on 542 million shares outstanding. The company is also introducing operating (non-GAAP) guidance of $0.60 to $0.70 per share for the period.
Both 2020 GAAP forecast periods include the impact of an expected mark-to-market adjustment on the pension and other post-employment benefits (OPEB) plans, as discussed in the special items listed below.
Fourth Quarter Results
In the fourth quarter of 2019, FirstEnergy reported a GAAP loss of $(111) million, or $(0.20) per basic and diluted share of common stock, on revenue of $2.7 billion. The loss reflects the impact of the company's annual non-cash, pension and OPEB mark-to-market adjustment, and includes other special items shown below.
In the fourth quarter of 2018, the company reported GAAP earnings of $128 million, or $0.25 per basic and diluted share of common stock, on revenue of $2.7 billion. Results include the special items shown below.
Operating (non-GAAP) earnings for the fourth quarter of 2019 were $0.55 per share. In the fourth quarter of 2018, operating (non-GAAP) earnings were $0.50 per share.
Operating results in FirstEnergy's Regulated Distribution business were flat compared to the fourth quarter of 2018 as lower operating expenses offset the absence of the Ohio Distribution Modernization Rider (Ohio DMR) and the impact of more mild temperatures across the company's footprint in the fourth quarter of 2019.
Total distribution deliveries decreased 3.2% compared to the fourth quarter of 2018 due to more mild temperatures and lower commercial and industrial usage. Residential sales decreased 3.1%, driven by a 7% decrease in heating degree days compared to the fourth quarter of 2018. Commercial deliveries decreased 4.3%, while sales to industrial customers decreased 2.4%.
In the Regulated Transmission business, fourth quarter 2019 operating results increased primarily due to higher rate base associated with the company's ongoing investments in its Energizing the Future transmission program and lower operating expenses, which offset higher net financing costs.
In the Corporate/Other segment, fourth quarter 2019 operating results reflect lower operating expenses compared to the same quarter of 2018.
Full-Year 2019 Segment Results
For the full year of 2019, operating earnings decreased in the Regulated Distribution business as lower expenses were offset by the absence of the Ohio DMR in the second half of the year, as well as lower distribution deliveries.
In the Regulated Transmission business, full-year 2019 operating results benefited primarily from higher transmission margins related to continued investments in the company's Energizing the Future initiative.
In the Corporate/Other segment, operating results benefited primarily from lower operating expenses.
Consolidated GAAP Earnings Per Share (EPS) to Operating (Non-GAAP) EPS* Reconciliation | ||||||||||||
Fourth Quarter | Full Year | 2020 Estimates | ||||||||||
2019 | 2018 | 2019 | 2018 | First Quarter | Full Year | |||||||
Net Income (Loss) attributable to Common | $(111) | $128 | $908 | $981 | $(75) - $380 | $900 - $1,410 | ||||||
Basic EPS (GAAP) | $(0.20) | $0.25 | $1.70 | $1.99 | $(0.14) - $0.70 | $1.66 – $2.60 | ||||||
Excluding Special Items*: | ||||||||||||
Impact of full dilution | — | — | (0.01) | 0.52 | — | — | ||||||
Mark-to-market adjustments – | ||||||||||||
Pension/OPEB actuarial assumptions | 0.88 | 0.19 | 0.89 | 0.19 | 0.74 - 0.00 | 0.74 - 0.00 | ||||||
Regulatory charges | (0.15) | 0.01 | (0.16) | (0.20) | — | — | ||||||
Debt redemption costs | — | 0.01 | — | 0.22 | — | — | ||||||
Tax reform | — | 0.02 | — | 0.04 | — | — | ||||||
Exit of competitive generation | 0.02 | 0.02 | 0.16 | (0.17) | — | — | ||||||
Total Special Items* | 0.75 | 0.25 | 0.88 | 0.60 | 0.74 - 0.00 | 0.74 - 0.00 | ||||||
Operating EPS (Non-GAAP) | $0.55 | $0.50 | $2.58 | $2.59 | $0.60 - $0.70 | $2.40 - $2.60 | ||||||
Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by number of shares outstanding assuming full impact of dilution from the $2.5 billion equity issuance in January 2018. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount if deductible/taxable. The income tax rates range from 21% to 29% for all periods. Earnings (Loss) Per Share is based on 512 million and 492 million shares for the Fourth Quarter and Full Year of 2018, respectively, and 540 million and 535 million shares for the Fourth Quarter and Full Year of 2019, respectively. First Quarter and Full Year 2020 Estimates of Earnings (Loss) Per Share and Operating EPS (Non-GAAP) are based on 542 million shares.
Upon the FES Debtors' emergence from bankruptcy, FirstEnergy will perform a remeasurement of the pension and OPEB plans. Assuming an emergence in the first quarter of 2020, FirstEnergy anticipates an after-tax, non-cash, mark-to-market loss of up to $400M, assuming a discount rate of ~3.10% to 3.35% and a return on the pension and OPEB plans' assets based on actual investment performance through January 31, 2020. |
Non-GAAP financial measures
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented in 2018 by 538 million shares, 539 million shares in 2019, 540 million shares in the fourth quarter of 2019, and 542 million shares in 2020, which reflects the full impact of share dilution from the equity issuance in January 2018. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Investor Materials and Teleconference
FirstEnergy's Strategic and Financial Highlights and Investor Factbook are posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on the Fourth Quarter 2019 Financial Results link.
The company invites investors, customers and other interested parties to listen to a live webcast of its teleconference for financial analysts and view presentation slides at 11:00 a.m. EST today. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Fourth Quarter 2019 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, , or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 3, 2020 /PRNewswire/ -- In partnership with the City of Akron and The University of Akron, Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has begun installing 252 new LED streetlights in the South Exchange Street Corridor neighborhood, south of the University of Akron. The project will improve visibility for motorists and pedestrians in the area, which is largely home to university students. The project is expected to be complete by the end of May.
"We're pleased to see the first new LED streetlights being installed here today, and we appreciate the city and Ohio Edison including this neighborhood where so many UA students reside, as part of the initiative," said University of Akron President Gary L. Miller. "This project, which will create a more appealing and secure environment for all residents, is the kind of win-win collaboration that the University is eager to engage in and support."
The new LED streetlights are more efficient, have a longer service life and provide brighter, higher-quality light output that meaningfully improves visibility after dark. They also accommodate newer technologies that can be added in the future to increase safety, including motion sensors and cameras.
"Communities across the FirstEnergy service areas in Ohio and elsewhere have noticed substantial improvements in visibility and security where LED streetlighting has been installed," said Ohio Edison President Edward Shuttleworth. "We are pleased to be able to work with the City of Akron and The University of Akron to bring these improvements to the South Exchange Street Corridor."
The City has already made a similar investment in LED streetlights in the Copley Road corridor, as part of the "Great Streets Initiative" program. In addition to the work near the University of Akron, ten other Akron neighborhood centers also will receive LED streetlights through this initiative in the coming years.
"The South Exchange Street Corridor neighborhood remains the lifeblood of the University of Akron's off-campus community," said Akron Mayor Daniel Horrigan. "This neighborhood serves as a hub for student activities, with shops and restaurants that draw the neighborhood together. Where the lights are brighter, residents feel safer, and we're pleased today to start making this a brighter, more inviting space for our students to live, work, shop and learn."
Ohio Edison serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Media note: Video of today's press conference is available on Ohio Edison's Facebook page at www.facebook.com/OhioEdison, and photos of today's LED streetlight installations are available on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 30, 2020 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has been named to Forbes magazine's Best Employers for Diversity 2020 list, recognizing the company's efforts to develop a diverse workforce.
Forbes partnered with market research firm Statista to identify America's top 500 employers for diversity through a survey where employees offered their perceptions on the topics of age, gender equality, ethnicity, disability, LGBTQA+ and general diversity concerning their own employer.
"Developing a diverse workforce reflective of the communities we serve and fostering a work environment where all employees are encouraged to be their authentic selves makes us a stronger and more successful company," said Christine L. Walker, FirstEnergy's senior vice president and chief human resources offer. "It is an honor to be recognized by Forbes for our commitment to diversity in the workplace."
This designation by Forbes is among the recent recognition FirstEnergy has received for its commitment to diversity in the workplace. The company was also named to the Bloomberg Gender-Equality Index (GEI) for the second consecutive year, and received a score of 80 out of 100 for its initiatives to support LGBTQ employees in the company's first year participating in the Human Rights Campaign's 2020 Corporate Equality Index.
FirstEnergy has made significant strides to further embed diversity and inclusion in its culture. Through an annual survey that measures employee perceptions of diversity and inclusion, an increased number of employees indicated that they feel comfortable voicing their opinions openly. Together with initiatives such as employee business resource groups (EBRGs), enhanced hiring, recruiting and development processes that focus on diversity and inclusion, and a formal mentoring program, the company continues to engage employees in its efforts to make FirstEnergy a top place to work with an inviting and open culture.
Now in its third year, the Forbes Best Employers for Diversity list comprises companies from 24 industries, including utilities, insurance, automotive, education and healthcare. The companies were chosen based on an independent survey from a representative sample of 60,000 employees working for companies employing at least 1,000 people in their U.S. operations. In addition, companies were evaluated on diversity of top executives and board positions, indicators such as the proactive communication of diverse company culture, and indirect recommendations from employees at other companies within their respective industries. Visit www.forbes.com to view the complete list of companies.
To learn more about FirstEnergy's diversity and inclusion initiatives, visit www.firstenergycorp.com/diversity.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Jan. 23, 2020 /PRNewswire/ -- To help ensure continued electric service reliability for two million Pennsylvania customers, FirstEnergy Corp. (NYSE: FE) subsidiaries Metropolitan Edison (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power recently received approval from the Pennsylvania Public Utility Commission (PUC) for the second phase of their Long Term Infrastructure Improvement Plans (LTIIP II). The plans outline an additional $572 million in capital investments that will be made over the next five years across FirstEnergy's Pennsylvania utilities.
The newly approved LTIIP II plans are the second phase of accelerated distribution improvement projects in Pennsylvania. The first phase included nearly $360 million in investments made from 2016-2019.
"The improvement plan for each utility is designed to complement the work we already perform on our distribution network, year-in and year-out, to reduce the number and duration of outages experienced by our customers," said Scott R. Wyman, president of FirstEnergy's Pennsylvania Operations. "These investments build on earlier improvement plans and include rebuilding critical infrastructure such as overhead circuits, as well as replacing key equipment in our substations."
LTIIP II projects will include replacing older poles, underground and overhead lines and fuses; installing new substation equipment, network vaults and manhole covers; and reconfiguring circuits. FirstEnergy's Pennsylvania utilities also will submit separate plans in the coming months to address additional replacements and reinforcements of wooden distribution poles.
These targeted distribution projects complement each utility's annual tree trimming and vegetation management efforts, which work in tandem to help to minimize service interruptions.
Approximately $123 million of the work is expected to be completed in 2020 across FirstEnergy's Pennsylvania service areas, with the remainder spent over the next four years.
Expected 2020-2024 LTIIP II investments for each operating company are:
The costs associated with these service reliability investments are expected to be recovered through Distribution System Improvement Charges (DSIC)s on monthly electric bills. The DSIC charges are updated quarterly based on cumulative LTIIP investment and reflect new distribution equipment placed in service during the previous three months.
The bill impact in 2020 for a residential customer using 1,000 kilowatt hours (kWh) per month is expected to be:
Both LTIIPs and DSICs were authorized by Pennsylvania Act 11, which was approved in 2012 and established a process to encourage electric, natural gas, water and sewer utilities in Pennsylvania to accelerate investments in aging infrastructure and help create economic benefits.
"We anticipate filing additional LTIIPs in coming years and are committed to a sound approach that will result in consistent reliability performance," Wyman said. "We will strive to achieve maximum reliability benefits for our customers while striking a balance to minimize impacts to their bills with cost-effective projects."
Met-Ed serves about 570,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
Penelec serves approximately 585,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
Penn Power serves approximately 165,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower.
West Penn Power serves approximately 725,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following (see Glossary of Terms for definitions of capitalized terms): the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 21, 2020 /PRNewswire/ -- For the second consecutive year, FirstEnergy Corp. (NYSE: FE) has been included in the Bloomberg Gender-Equality Index (GEI), earning recognition for its commitment to women's equality in the workplace.
The GEI uses a standardized reporting framework to measure gender equality across five pillars: female leadership and talent pipeline, equal pay and gender pay parity, inclusive culture, sexual harassment policies and factors like supply chain and community support. Companies included in the index scored at or above a global threshold established by Bloomberg to reflect a high level of disclosure and performance across the framework's five pillars.
"FirstEnergy's inclusion in the Bloomberg GEI for the second year reaffirms our commitment to equality in the workplace," said Christine L. Walker, FirstEnergy's senior vice president and chief human resources officer. "Fostering a diverse and inclusive work environment enhances innovation and employee satisfaction, and provides significant value to employees, investors and our communities. Participating in the GEI is a key part of tracking our progress."
In addition to tracking gender equality within the GEI framework, FirstEnergy has taken other significant steps to support women in the workplace, including establishing employee business resources groups (EBRGs) dedicated to promoting the professional development of women, as well as offering a formal mentoring program and leadership-focused learning opportunities for women.
"The 325 companies included in the 2020 GEI have shown their commitment to transparency and demonstrated leadership in gender-related data reporting," said Peter T. Grauer, chairman of Bloomberg. "Disclosure of company statistics and practices is an important first step in supporting gender equality globally."
The 2020 GEI includes organizations across 50 industries, including energy, automotive, banking, consumer services, engineering and construction, and retail. To enhance global perspective, eligibility for the GEI was expanded this year to include 33 additional countries, giving 6,000 companies in 84 countries the opportunity to participate. More information about the index is available at www.bloomberg.com/gei.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Jan. 14, 2020 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for FirstEnergy Corp. (NYSE: FE) customers in Pennsylvania who need help with winter heating bills. FirstEnergy's Pennsylvania utilities include Metropolitan Edison (Met-Ed), Pennsylvania Electric Company (Penelec), West Penn Power and Pennsylvania Power (Penn Power).
Assistance to qualifying customers is available through the Dollar Energy Fund, the Low-Income Home Energy Assistance Program (LIHEAP), and the Pennsylvania Customer Assistance Program (PCAP).
Income eligible customers also can reduce their electric bills by making their homes more energy efficient by participating in the WARM Program. This program is available to homeowners and renters with landlord approval. WARM Program participants:
The specific improvements that a customer is eligible to receive will be determined during the home energy evaluation. While no payment is required for these installations or services, there are household income requirements and electricity use requirements. For more information, customers can call Dollar Energy Fund at 888-282-6816, or apply online at www.energysavepa.com.
To apply or learn more about other company programs, visit www.firstenergycorp.com/billassist or call 800-545-7741.
FirstEnergy's Pennsylvania residential customers also can manage their electric bills through the Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills.
In addition to the payment options, FirstEnergy offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete a Medical Certification Form describing the resident's medical condition. The Medical Certification process also can be used to restore electric service after a customer has been disconnected.
FirstEnergy also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills but can help make payment arrangements for the customer who might have difficulty paying their bill.
Met-Ed serves about 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
Penn Power serves approximately 163,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower.
West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 14, 2020 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for FirstEnergy Corp. (NYSE: FE) customers in Ohio who need help with winter heating bills. FirstEnergy's Ohio utilities include Ohio Edison, The Illuminating Company and Toledo Edison.
Assistance to qualifying customers is available through the Home Energy Assistance Program (HEAP), Percentage of Income Payment Plan Plus and the $175 Winter Reconnection Option.
Specific customer assistance programs also are available for each utility:
The Illuminating Company
Ohio Edison
Toledo Edison
To apply or learn more about other programs, visit http://www.firstenergycorp.com/billassist or call 800-589-3101.
FirstEnergy Ohio utility residential customers also can manage their electric bills through the Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills.
In addition to the payment options, FirstEnergy offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete and sign a Medical Certification Form for the eligible customer.
FirstEnergy also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills but can help make payment arrangements for the customer who might have difficulty paying their bill.
The Illuminating Company serves 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Connect with The Illuminating Company at www.illuminatingcompany.com, on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
Ohio Edison serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Jan. 14, 2020 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for FirstEnergy (NYSE: FE) customers in West Virginia who need help with winter heating bills. FirstEnergy's West Virginia utilities include Mon Power and Potomac Edison.
Assistance to qualifying customers is available through the Dollar Energy Fund, the West Virginia Emergency Assistance Program, the Low Income Energy Assistance Program (LIEAP), and the West Virginia 20 Percent Discount Program.
To apply or learn more about other company programs, visit www.firstenergycorp.com/billassist or call 800- 686-0022.
Mon Power and Potomac Edison residential customers also can manage their electric bills through the Average Payment Plan (APP). With APP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills.
In addition to the payment options, a Medical Certification program is also available.
An appropriate health care professional must complete a Medical Certification Form describing the resident's medical condition enabling additional notification prior to termination.
Mon Power and Potomac Edison also offer a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills but can help make payment arrangements for the customer who might have difficulty paying their bill.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV and on Facebook at www.facebook.com/MonPowerWV.
Potomac Edison serves about 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Jan. 14, 2020 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for eligible Potomac Edison customers who need help with winter heating bills.
Assistance to qualifying customers is available through the Community Energy Fund, the Maryland Energy Assistance Program, the Electric Universal Service Program, and the Utility Service Protection Program.
To apply for MEAP, EUSP, or USPP:
To apply or learn more about other company programs, visit www.firstenergycorp.com/billassist or call 800-686-0011.
Potomac Edison residential customers also can manage their electric bills through the Average Payment Plan (APP). With APP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills.
In addition to the payment options, Potomac Edison offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete and sign a Medical Certification Form for the eligible customer.
Potomac Edison also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills but can help make payment arrangements for the customer who might have difficulty paying their bill.
For more information about any of these programs, including how to qualify, visit firstenergycorp.com/billassist and click on "Search Assistance Programs." Our Customer Service Center is also available at 800-686-0011, Monday through Friday from 8 a.m. to 6 p.m.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 257,000 customers in seven Maryland counties. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Jan. 14, 2020 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for Jersey Central Power & Light (JCP&L) customers who need help with their winter heating bills.
Assistance to qualifying JCP&L customers is available through Lifeline, Universal Service Fund (USF), The Home Energy Assistance Program (HEAP), the Weatherization Program, Payment Assistance for Gas and Electric (PAGE) and New Jersey SHARES.
To apply or learn more about other JCP&L programs, visit www.firstenergycorp.com/billassist or call 800-662-3115.
JCP&L residential customers also can manage their electric bills through the Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other JCP&L programs, visit www.firstenergycorp.com/billassist or call 800-662-3115.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Jan. 9, 2020 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), recently launched a new program featuring publicly available electric vehicle (EV) charging stations, rebates for both residential and multifamily charger installations, and incentives for EV charging during off-peak hours. "EV Driven," a five-year commission-approved pilot program, will benefit the state's environment by reducing auto emissions.
As part of the program, Potomac Edison will install 59 charging stations, including both Level 2 and DC Fast charging stations, which will be available for public use throughout its Maryland service area. Charging station installations are planned to begin in the coming weeks. Government entities interested in hosting a charging station for public use can learn more and apply at www.potomacedison.com/EVDriven.
The program also provides a $300 rebate for qualified Level 2 EV charging stations for residential customers and a 50 percent rebate for the cost of qualified Level 2 and DC Fast charging stations at multifamily properties, up to $5,000. In addition, residential customers can sign up to earn gift card incentives for using their qualifying EV charging station during off-peak times. Customers can learn more about EV Driven rebates and incentives at www.potomacedison.com/EVDriven.
"The EV Driven program will help make electric vehicle charging in Maryland more accessible, convenient and affordable," said James Sears, President of Maryland Operations for FirstEnergy. "We're excited to support Maryland's efforts toward electric vehicle adoption and to expand the charging station network as we continue providing safe, reliable and affordable service to our customers."
The pilot program was approved by the Maryland Public Service Commission in January 2019 and includes additional EV charging station installations from other Maryland utilities to support a state-wide effort toward reaching 300,000 zero-emission vehicles on the road by 2025. The pilot is intended to help Maryland utilities evaluate the benefits of EV charging deployment while remaining cost-effective for customers.
Electric vehicles offer a clean, efficient alternative to gasoline-powered vehicles, averaging as low as one-third the cost-per-mile of gasoline. Depending on the battery capacity, EV driving range can vary from about 80 miles up to 280 miles. The installation of public charging stations through the pilot program will help reduce "range anxiety" for EV owners, as well as provide key data to help determine future implementation efforts throughout Maryland and other areas served by FirstEnergy's utilities.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 270,000 customers in seven Maryland counties. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editors Note: Photo is a representation of a ChargePoint® DC Fast charging station that is planned for installation as part of the EV Driven program. It's available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 9, 2020 /PRNewswire/ -- For the 14th consecutive year, FirstEnergy Corp. (NYSE: FE) has earned recognition for its emergency response efforts from the Edison Electric Institute (EEI), a leading electric industry organization. FirstEnergy earned the "Emergency Recovery Award" for safely and efficiently restoring service to nearly 280,000 of its New Jersey customers following severe thunderstorms in July of 2019 that impacted the region.
On July 22, a storm with straight-line winds topping 80 miles per hour swept through Jersey Central Power & Light's (JCP&L) service territory, toppling trees, causing extensive equipment damage and closing dozens of roads. A massive restoration effort was launched that ultimately included over 2,300 line workers, hazard responders, damage assessors and other support staff from FirstEnergy companies, contractors, and assisting utilities. Repairs included replacing more than 100 utility poles, 100 transformers and other equipment, and approximately 22 miles of wire. The joint effort restored service to 93 percent of affected customers within 48 hours of the start of the storm, with all affected customers restored by July 25.
"FirstEnergy's work to restore service safely and quickly to customers, often in dangerous conditions, makes them deserving of this award," said EEI President Tom Kuhn. "Their efforts exemplify the high standards our industry seeks to uphold, and I applaud their commitment to their customers."
"When severe weather impacts our region, we have well developed storm restoration plans that are quickly implemented to reduce the outage time our customers might experience," said Sam Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "This award creates an opportunity to recognize our crews in the field who worked safely around the clock in difficult, and sometimes hazardous, conditions to help our customers."
EEI presents awards twice annually to member companies to recognize extraordinary efforts to restore power or for assisting other electric companies after service disruptions caused by weather conditions and other natural events. Winners are chosen by a panel of judges following an international nomination process. The awards were presented January 8, 2020, during the winter EEI Board of Directors and CEO meeting in Arizona.
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than 65 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 7, 2020 /PRNewswire/ -- The FirstEnergy Foundation surprised deserving organizations across the company's service area with grants totaling $100,000 as part of its annual holiday "Gifts of the Season" campaign. Since its inception in 2016, the campaign has awarded nearly $400,000 to organizations that work to strengthen communities.
"We really enjoy surprising groups with these donations around the holidays, when the need for their services is so critical," said Lorna Wisham, vice president of corporate affairs and community involvement for FirstEnergy. "The recipients are chosen by FirstEnergy External Affairs employees, and the grants are dedicated to improving the quality of life in the areas where our employees and customers live and work."
This year, 14 nonprofits received grants of $5,000 or $10,000 through the program. Recipients included:
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of the Gifts of the Season being presented to these organizations by FirstEnergy representatives are available for download on Flickr.
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SOURCE FirstEnergy Corp.
NEW CASTLE, Pa., Dec. 9, 2019 /PRNewswire/ -- As winter approaches, The Pennsylvania Power Company (Penn Power) is wrapping up major projects expected to enhance electric service reliability for nearly 20,000 customers in Mercer County.
The projects include installing approximately 1,000 new poles and replacing more than 184,000 feet of power lines with thicker, durable wire designed to withstand severe winter elements like ice and heavy, wet snow. In addition, customers will benefit from installation of 72 new automated reclosing devices that can help restore power to customers within seconds in the event of a power outage and significantly reduce the length of an outage.
The work should be completed by the end of the year and is part of Penn Power's 2016-2020 Long-Term Infrastructure Improvement Plan (LTIIP) approved by the Pennsylvania Public Utility Commission to help enhance electric service for customers.
"Winter storms have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions," said Ed Shuttleworth, regional president of Penn Power and Ohio Edison. "The completion of this work ahead of winter is a win-win because it strengthens our electric system and keeps the lights on for customers when they depend on it the most to stay warm and comfortable."
The projects include the creation of additional circuit ties along power lines that allow for more flexibility in restoring an outage. A single circuit can serve thousands of customers, which means an outage due to a fallen tree on a power line could affect all customers served by that circuit. Circuit ties essentially split the circuit into sections, isolating outages to a smaller number of areas and reducing the overall number of customers impacted during an outage by switching them to a different circuit for faster service restoration.
In preparation for winter, Penn Power utility workers also have completed inspections and conducted equipment maintenance on weather-sensitive equipment across its service area.
The work includes the use of special thermal-imaging cameras to detect hot spots, or weak points, invisible to the naked eye on electrical equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold. Substation electricians also inspected batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope.
A video of utility personnel installing the new electrical equipment can be found on YouTube.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Penn Power crews restringing power lines and installing new equipment are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 4, 2019 /PRNewswire/ -- With the holiday season underway, FirstEnergy Corp. (NYSE:FE) invites customers to show off their best and brightest outdoor holiday light displays by entering the company's annual "Merry & Bright" Holiday Lights Contest for a chance to win a weekly prize.
A photo or video of customers' outdoor lighting displays can be submitted on their respective electric company's Facebook® page until Friday, Dec. 20. One entry from each of FirstEnergy's 10 utility companies will be randomly selected to receive a $100 Amazon® gift card each week. The winning entries will be shared each week on Facebook.
Participants must be 18 years old and FirstEnergy customers. More information, including complete contest rules, is available on each utility's Facebook page.
Keep Safety Top of Mind During the Holidays
As homes are adorned with twinkling lights, trees, wreaths and more, FirstEnergy reminds customers to decorate safely for the holidays. By taking the proper precautions both inside and outside of the home, customers can prevent hazards and focus on friends and family during the holidays.
Outdoor Lighting Safety
Indoor Lighting Safety
For more holiday safety information and to enter the "Merry & Bright" Holiday Lights Contest, connect with a FirstEnergy utility company on Facebook:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter at @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 18, 2019 /PRNewswire/ -- As winter arrives and temperatures drop, FirstEnergy utility customers should be on high alert for phone calls or door-to-door visits from scammers trying to trick them into paying fictional unpaid bills to avoid immediate shutoff.
Realizing scammers feed off people's fear of losing heat in the cold weather, FirstEnergy and dozens of other electric and gas companies are banding together for Utility Scam Awareness Week, held Nov. 17-23, to prevent customers from falling victim to scams this season. The annual awareness week is organized by Utilities United Against Scams – a group consisting of more than 100 utilities and related organizations – to educate the public about the ever-growing list of scams targeting utility customers.
"We take our customers' safety and security very seriously," said Gary W. Grant, vice president of customer service for FirstEnergy Utilities. "Scammers can be very convincing and often target our most vulnerable customers, particularly senior citizens."
To date in 2019, FirstEnergy's utilities have received more than 1,600 reports of scams from customers – outpacing last year's total number of reported scams by more than 200. The actual number of scam attempts is even higher since many go unreported to the company or law enforcement officials.
Although the scammers work year-round, they are most active in the winter and summer months, when people are most concerned about not having heat or air conditioning.
With a goal of keeping customers informed about all types of utility scams, FirstEnergy's award-winning video, "Hang Up, Don't Pay Up: When a Scammer Calls," features two business owners contacted by phone scammers impersonating FirstEnergy electric company employees. The video – which has been viewed more than 150,000 times – provides red flags and tips for avoiding scams.
FirstEnergy customers are urged to keep the following information in mind to help ensure the safety of their family, property and personal information:
"We encourage customers to contact us directly using the phone number listed on our website and on their billing statement if they need to verify the status of their electric account or confirm the identity of a FirstEnergy employee," said Grant. "When in doubt, always give us a call."
FirstEnergy (NYSE:FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 8, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today provided investors an extended growth outlook through 2023 and launched two reports outlining the company's five-year vision and strategy as well as progress on environmental, social and governance (ESG) initiatives.
In addition, FirstEnergy's Board today declared an increased quarterly dividend of $0.39 per common share. The dividend is payable on March 1, 2020, to shareholders of record as of February 7, 2020. This represents a 3 percent increase compared to quarterly payments of $0.38 per common share paid by the company since March 2019.
The dividend increase is consistent with FirstEnergy's policy, adopted last year, to target a payout ratio of 55% to 65% of the company's operating (non-GAAP) earnings.* The Board will continue to base decisions regarding future dividend payments on FirstEnergy's earnings growth, cash flows, credit metrics, and other business conditions.
To provide investors with greater clarity on FirstEnergy's long-term expectations for growth, the company is affirming its current growth rate projection and broadening its outlook by two additional years. FirstEnergy remains on track to achieve 6% to 8% compound annual operating (non-GAAP) earnings growth (CAGR) from 2018 through 2021, and is extending the CAGR at a rate of 5% to 7% through 2023.** The projection includes plans to issue a modest amount of equity, up to a total of $600 million annually, to fund the company's growth initiatives starting in 2022.
"We are on track to achieve growth above the midpoint of our original forecast for the first two years of our planning period," said FirstEnergy President and Chief Executive Officer Charles E. Jones. "In addition, our long-term, sustainable growth plans continue to support our goal of enhancing shareholder returns."
Strategic Plan and Corporate Responsibility Report
FirstEnergy's new Strategic Plan and Corporate Responsibility Report reflect the company's mission to be a forward-thinking electric utility, powered by a diverse team of employees committed to making customers' lives brighter, the environment better and our communities stronger.
"The new reports support our commitment to increase transparency and engagement with investors, customers and other stakeholders, while providing a platform to track our progress as we transition to a cleaner, smarter and more sustainable energy future," Jones said. "As we have continuously demonstrated over the past several years, FirstEnergy is prepared to meet any challenge as we work together to deliver energy for a brighter future."
FirstEnergy's Strategic Plan, "Energized by Possibility," articulates the company's vision for the next five years. It includes the company's approach to the rapid changes in the electric utility industry fueled by evolving customer expectations, emerging technologies and a lower-carbon economy.
The plan, which is available online at www.firstenergycorp.com/FEstrategicplan, outlines key initiatives related to the company's core values, including:
FirstEnergy expects to refresh the Strategic Plan annually.
The company's new Corporate Responsibility Report, "Energy for a Brighter Future," is available online at www.FECorporateResponsibility.com. The report is aligned with the five pillars of FirstEnergy's mission statement and includes extensive detail on the company's ESG-related efforts to achieve sustainable performance.
The report addresses the company's efforts to reduce the environmental impact of its operations, including its progress on its carbon dioxide reduction goal, as it continues to build, strengthen and modernize its transmission and distribution system. It also describes the company's high standards for corporate governance, its work to improve lives in its communities and to provide safe, reliable electric service to customers.
The Corporate Responsibility Report also features FirstEnergy's initial steps to provide data in alignment with the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) metrics.
The company plans to update the Corporate Responsibility Report annually, including a data refresh next year in alignment with the 2019 Annual Report to Shareholders.
FirstEnergy will publish a revised Investor Factbook on its investor information website, www.firstenergycorp.com/ir, reflecting these updates. Investors may also pick up copies of the Strategic Plan and an Executive Summary of the Corporate Responsibility Report by visiting FirstEnergy at the EEI Conference next week.
Non-GAAP Financial Measures:
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented in 2018 by 538 million shares, 539 million shares in the year-to-date 2019, 540 million shares for the third quarter and full year 2019, and 542 million shares in 2020, which reflects the full impact of share dilution from the equity issuance in January 2018. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following (see Glossary of Terms for definitions of capitalized terms): the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on 10-K, Quarterly Report on Form 10-Q and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 4, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported third quarter 2019 GAAP earnings of $391 million or $0.73 per basic share ($0.72 diluted), on revenues of $3 billion. GAAP results include the impact of special items listed below. Operating (non-GAAP) earnings* for the third quarter of 2019 were $0.76 per share.
These results compare to a GAAP loss of $(512) million, or $(1.02) per basic and diluted share in the third quarter of 2018, which included charges related to FirstEnergy's settlement agreement in the FirstEnergy Solutions and FirstEnergy Nuclear Operating Company bankruptcy cases and other special items listed below. Revenues for the third quarter of 2018 were $3 billion. Operating (non-GAAP) earnings* during the period were $0.80 per share.
"Our customer-focused, long-term infrastructure investment program drove solid third quarter financial results," said Charles E. Jones, FirstEnergy president and chief executive officer. "Based on our success with these initiatives and our outlook for the future, we are affirming our projection for 6% to 8% compound annual growth from 2018 through 2021."**
FirstEnergy also refined its 2019 earnings guidance and provided guidance for 2020. For 2019, the company is updating its GAAP earnings forecast range to $405 million to $1.02 billion, or $0.76 to $1.90 per share based on 535 million shares. Full-year 2019 operating (non-GAAP) earnings guidance is being narrowed to $2.50 to $2.60 per share.
For 2020, the company is providing a GAAP and operating (non-GAAP) earnings guidance range of $2.40 to $2.60 per share.
In FirstEnergy's Regulated Distribution business, third quarter 2019 earnings decreased primarily due to the absence of the Ohio Distribution Modernization Rider and more moderate summer weather compared to the third quarter of 2018. Results were also impacted by higher operating expenses and depreciation, partially offset by lower net financing costs and a lower effective tax rate.
Third quarter 2019 cooling degree days were 22% above normal, but 9% lower than the third quarter of 2018.
Total distribution deliveries decreased 2.2% compared to the third quarter of 2018. Residential sales decreased 2.2%, while deliveries to commercial customers decreased 3.8%. Deliveries to industrial customers decreased 1% as lower demand from the automotive, steel and chemical sectors offset continued growth in the shale gas industry.
In the Regulated Transmission business, third quarter 2019 earnings increased as slightly higher net financing costs were offset by higher rate base resulting from ongoing investments in the company's Energizing the Future initiative, as well as a lower tax rate.
In the Corporate/Other segment, results for the third quarter of 2019 improved due to lower expenses.
For the first nine months of 2019, FirstEnergy's GAAP earnings were $1 billion, or $1.90 per basic share ($1.89 diluted) on revenue of $8.4 billion. This compares to GAAP earnings of $853 million, or $1.76 per basic share ($1.75 diluted), on revenue of $8.6 billion in the first nine months of 2018.
Operating (non-GAAP) earnings* for the first nine months of 2019 were $2.04 per share, compared to $2.09 per share in the first nine months of 2018.
Consolidated GAAP Earnings to Operating (Non-GAAP) | |||||||||
Third Quarter | Year-to-Date | 2019 Estimates | 2020 Estimates | ||||||
2019 | 2018 | 2019 | 2018 | Full Year | Full Year | ||||
Net Income (Loss) attributable to Common Stockholders (GAAP) - $M | $391 | $(512) | $1,016 | $853 | $405 - $1,020 | $1,300 - $1,410 | |||
Earnings (Loss) Per Share | $0.73 | $(1.02) | $1.90 | $1.76 | $0.76 - $1.90 | $2.40 - $2.60 | |||
Excluding Special Items*: | |||||||||
Impact of full dilution | – | 0.18 | (0.01) | 0.49 | (0.02) | – | |||
Regulatory charges | – | (0.05) | (0.01) | (0.21) | (0.14) | – | |||
Mark-to-market adjustments - Pension/OPEB actuarial assumptions | – | – | – | – | 1.74 – 0.70 | – | |||
Tax reform | – | – | – | 0.02 | – | – | |||
Debt redemption costs | – | – | – | 0.21 | – | – | |||
Exit of competitive generation | 0.03 | 1.69 | 0.16 | (0.18) | 0.16 | – | |||
Total Special Items* | 0.03 | 1.82 | 0.14 | 0.33 | 1.74 – 0.70 | – | |||
Operating EPS (non-GAAP) | $0.76 | $0.80 | $2.04 | $2.09 | $2.50 - $2.60 | $2.40 - $2.60 | |||
Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by number of shares outstanding assuming full impact of dilution from the $2.5 billion equity issuance in January 2018. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount if deductible/taxable. The income tax rates range from 21% to 29% in 2019 and 2018. 2019 Estimates of Earnings (Loss) Per Share is based on 535 million shares, and Operating Earnings Per Share (Non-GAAP) is based on 540 million shares. 2020 Estimates of Earnings (Loss) per Share and Operating Earnings Per Share (Non-GAAP) is based on 542 million shares. |
Non-GAAP Financial Measures:
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented in 2018 by 538 million shares, 539 million shares in the year-to-date 2019, 540 million shares for the third quarter and full year 2019, and 542 million shares in 2020, which reflects the full impact of share dilution from the equity issuance in January 2018. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Investor Materials and Teleconference
FirstEnergy's Strategic and Financial Highlights and Investor Factbook are posted on the company's Investor Information website – www.firstenergycorp.com/ir. Click on the Third Quarter 2019 Financial Results link.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 9:00 a.m. EST today. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Third Quarter 2019 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we", "us", "our", and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following (see Glossary of Terms for definitions of capitalized terms): the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of climate change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us, including the increasing number of financial institutions evaluating the impact of climate change on their investment decisions; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on 10-K, Quarterly Report on Form 10-Q and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 1, 2019 /PRNewswire/ -- Service has been restored to more than 222,500 FirstEnergy Corp. (NYSE: FE) customers who lost power due to powerful rain and windstorms that swept across the region on Halloween.
Long periods of heavy rain, totaling three inches in many places, coupled with strong winds gusting to 55 mph, began battering Ohio, Pennsylvania, West Virginia, Maryland and New Jersey yesterday morning. Parts of central Pennsylvania, West Virginia and Maryland also experienced severe thunderstorms with winds gusting to 70 mph.
FirstEnergy began monitoring and preparing for the weather early in the week. Crews were prepared to begin responding as soon as the inclement weather hit, and additional support is being dispatched today to assist the restoration effort. Since the storm began, repairs have been made at hundreds of locations, and crews are working to assess damage and restore service to approximately 31,800 customers who remain without power. Though downed trees, localized flooding and road closures can slow progress, crews will continue to work around the clock to safely make repairs and ensure service to all customers has been restored.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be taken in areas where downed wires may be tangled in downed tree branches or other debris.
Current company updates as of 12:30 p.m. today include:
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
With cold weather expected across the region over the next several days, customers are reminded of tips for staying safe when the power is out:
A video playlist of utility personnel discussing the impact of wind storms on equipment and restoration efforts is available on YouTube.
FirstEnergy customers can subscribe to email and text message alert notifications to receive billing reminders, weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Oct. 31, 2019 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is nearing completion of a new substation and additional distribution circuits that will help enhance service reliability for customers in northern Frederick County, Md.
Located in the Foxville area, the substation will split an existing 114-mile circuit serving about 1,300 customers into two circuits that will serve about 650 customers each in the Myersville, Wolfsville and Foxville areas. The two newly created distribution circuits will include technology that will automatically isolate outages and restore customers on the remaining portions of the circuits. This new distribution automation system will reduce the number of customers affected by an outage.
"The new substation, along with distribution line upgrades we have completed in the area, will enhance reliability for nearly 1,300 customers in a densely forested area of northern Frederick County," said James A. Sears, Jr., FirstEnergy's president of Maryland Operations. "The substation will be put into service in early December, helping to reduce service interruptions for customers in an area that has been prone to tree-related outages."
The project also includes rebuilding nearly six miles of a 12-kV distribution line near Wolfsville, Md., and installing about half a mile of underground distribution line leaving the new substation.
Potomac Edison serves about 263,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the new Potomac Edison substation are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 30, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced that it has signed a 10-year lease extension for its 19-story downtown headquarters, reaffirming its commitment to the city it has called home for over 100 years.
The lease extension was reached with McKinley, Inc., owner of the FirstEnergy Building located at the corner of S. Main Street and Mill Street. The current contract was set to expire in June 2025. With the extension, FirstEnergy's headquarters will remain in downtown Akron through June 2035. The building currently houses about 950 full-time employees.
As part of the agreement, McKinley will make substantial capital contributions to FirstEnergy over the next five years for workspace modernization and updates. Additional terms of the agreement were not disclosed.
"The last couple of years have marked a major transformation at FirstEnergy that charts a course to long-term success for our company," said Charles E. Jones, FirstEnergy president and chief executive officer. "But what has not changed is our commitment to remaining a major presence in downtown Akron for the foreseeable future. We're also pleased that the lease extension will allow us to make enhancements to the building that will foster a more vibrant workplace for our employees."
"The FirstEnergy Building is one of the city's premier downtown office locations and it also serves as a key anchor for our commercial real estate portfolio in Ohio," said Albert M. Berriz, managing member, CEO and co-owner of McKinley. "With the lease extension, FirstEnergy's continued occupancy will ensure the building remains a vital part of Akron's landscape for years to come."
The building was constructed in 1976 with Ohio Edison as the main tenant. After the 1997 merger of Ohio Edison and Centerior Energy that formed FirstEnergy Corp., the company headquarters remained in the same building in Akron. Several other FirstEnergy predecessor companies have been located in downtown Akron, most notably Northern Ohio Traction & Light, which was incorporated in 1902.
In addition to the downtown headquarters, FirstEnergy facilities in the Akron area include the West Akron Campus and other FirstEnergy and Ohio Edison facilities that support more than 2,000 employees.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Founded in 1968 and headquartered in Ann Arbor, Mich., McKinley is a leading owner and operator of multifamily and commercial real estate. McKinley owns and manages more than 55 million square feet of commercial and residential real estate throughout 34 states. McKinley specializes in solving complex real estate problems for its own portfolio, as well as for a select clientele of institutional investors and partners.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 29, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has developed a new education program in conjunction with Stark State College and The University of Akron (UA) where instructors from both educational institutions will teach on-site at company facilities in the Akron area. Known as "Educate to Elevate," the program is designed to assist FirstEnergy's local customer service employees in pursuing associate and bachelor's degrees.
The goal of Educate to Elevate is to help develop a highly skilled workforce that is adaptable and ready for the future. In addition, FirstEnergy employees can take charge of their own career and personal development by enrolling in secondary educational programs that could lead to advancement opportunities within the company.
Educate to Elevate had its beginnings in February when several FirstEnergy senior leaders had discussions with representatives of the Northeast Ohio Council on Higher Education (NOCHE) about making it easier for employees to attend college by bringing the college to them. As part of this process, NOCHE helped develop the initial program concept and served as a liaison with Stark State College and The University of Akron.
"Through focus groups with customer service employees, we found people are interested in starting or going back to college, but the logistical challenges of getting to class on a campus are quite daunting," said Gary Grant, vice president, Customer Service, FirstEnergy. "By working with NOCHE, Stark State College and The University of Akron, we realized we could solve potential scheduling and transportation problems by bringing professors and instructors directly to our facilities to teach after our regular workday ends. This is a 'win-win' situation, where employees can earn degrees and FirstEnergy builds a more knowledgeable, career-minded workforce."
"Educate to Elevate aligns with our community's Elevate Greater Akron plan to provide educational and career pathways to advance the lives of residents and ensure local companies have a well-educated and technically proficient workforce," said Stark State College President Para M. Jones, PhD. "Educate to Elevate is an excellent example of a company investing in its own people and growing its own talent. We are very proud to partner with FirstEnergy on this innovative new program."
"Education is empowering, and The University of Akron is always pleased to partner with local companies like FirstEnergy to find solutions to their workforce needs," said Gary Miller, President of The University of Akron. "FirstEnergy employees who complete the program will be instructed by extraordinarily talented faculty and will open themselves up to increased knowledge and ways to better do business. We are honored that the education they receive through UA will positively impact their lives and their futures."
Representatives from Stark State College and UA will be meeting with interested FirstEnergy employees in November to review enrollment requirements, course of study options, and financial aid availability. The goal is to have employees ready for classes that begin in January. The program features accelerated, eight-week courses along with flexible hours, including evenings, and online learning.
Grant says if Educate to Elevate proves successful in Akron, it could be rolled out to other FirstEnergy call centers in Reading, Pa., and Fairmont, W.V., or offered to other FirstEnergy business units in Ohio.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
NEW CASTLE, Pa., Oct. 24, 2019 /PRNewswire/ -- The Pennsylvania Power Company (Penn Power) is installing new interior fencing in two Mercer County substations to help deter climbing animals and protect against electrical equipment interference that can cause power outages. The fencing – installed inside of a substation around the perimeter of the equipment – keeps the animals out of harm's way and the electricity safely flowing to customers.
This work is part of Penn Power's 2016-2020 Long-Term Infrastructure Improvement Plan (LTIIP), approved by the Pennsylvania Public Utility Commission. Installation of the fencing was completed at one substation in early October, and the second will be completed by the end of this year. The company plans to install additional animal deterrent substation fencing at other locations in Mercer and Lawrence counties over the next five years.
"Climbing animals present one of the greatest threats to substation operation and electric service reliability," said Ed Shuttleworth, regional president of Penn Power and Ohio Edison. "A single substation outage can cost thousands of dollars in equipment damage and hundreds of man hours to repair as well as causing extended outages for customers served by that circuit. The special fencing was an economical solution to prevent these types of service disruptions in the future."
Unlike other types of animal traps and deterrents, this special fencing completely prevents climbing animals from accessing the substation equipment and discourages them from trying again. Many climbing animals, like squirrels, have a highly developed memory that enables them to remember locations for food, warmth and shelter. With one brief contact with a fence panel, animals learn that a substation is not a welcoming location to visit and typically avoid protected substations in the future.
This fencing has proven to be successful for Penn Power's sister utility in Maryland, which has seen a sharp decline in substation outages due to animals.
To determine the best locations for the interior substation fencing, utility personnel reviewed outage patterns across Penn Power's service area and identified two substations in Hermitage and Sharon that had experienced animal-related equipment damage that caused lengthy power outages. These substations collectively serve 7,500 customers in western Pennsylvania.
A video of utility personnel explaining and installing the interior substation fence can be found on YouTube.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Penn Power crews installing an interior substation fence are available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 23, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is helping to keep New Jersey's beaches clean by sponsoring the Clean Ocean Action's (COA) Fall 2019 Beach Sweeps on October 26 at beaches in Monmouth and Ocean Counties.
JCP&L volunteers, including members of its new, environmentally focused Green Team, will join honor society students from Lake Rivera Middle School in Brick Township and the Jersey Shore Girl Scout Junior Troop 1782 from Brick for cleanup activities at Point Pleasant Beach in Ocean County. In addition, the company will sponsor cleanup of beaches in 23 Monmouth County communities.
"JCP&L's service area is home to miles and miles of picturesque beaches across portions of Monmouth and Ocean counties," said Jim Fakult, president of JCP&L. "Sponsoring Beach Sweeps shows our commitment to the environment by preserving a key natural resource, protecting fish and wildlife and promoting tourism and the coastal economy."
Now in its 34th year, COA Beach Sweeps is one of the longest-running beach cleanups of its kind in the world, helping to rid beaches of unsightly and harmful debris. Each year, volunteers clean beaches in New Jersey from Raritan to Delaware Bays, as well as underwater sites. Since the program's inception in 1985, more than 116,000 volunteers have participated, removing millions of pieces of debris from New Jersey's beaches and waterways.
Volunteers are welcome to join the Beach Sweeps events and can fulfill service hours by participating. All ages are welcome to participate. Children under 12 should be accompanied by an adult. Volunteers should bring garden or latex gloves, dress for the weather, wear hard-soled shoes and attend rain or shine. For a full list of volunteer meet-up times and locations, visit Clean Ocean Action's website.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 22, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the third quarter of 2019 before markets open on Monday, November 4. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 9 a.m. EST that day. 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 slides associated with the presentation via FirstEnergy's investor information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its third quarter presentation and supporting materials to the investor section of the website before markets open on November 4.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 21, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has been named to the New Jersey Sustainable Business Registry for its continued focus on environmental awareness and sustainable practices and policies. JCP&L is the only electric utility on the list of more than 150 New Jersey companies and organizations recognized for their environmental leadership efforts.
"As stewards of the environment, JCP&L is committed to delivering safe, reliable power to our 1.1 million customers across the state while minimizing the environmental impact of our operations," said Jim Fakult, President, JCP&L. "As a member of the New Jersey Sustainable Business Registry, we look forward to sharing our ideas and working closely with the companies and organizations who are leading the effort to encourage sustainability in New Jersey."
JCP&L's recent environmental initiatives and accomplishments include:
Launched in 2014, the New Jersey Sustainable Business Registry is a partnership between the Rutgers' New Jersey Small Business Development Centers (NJSBDC) and the New Jersey Department of Environmental Protection. By joining the registry, JCP&L can share its successes and inspire other organizations to implement sustainable practices as well as learn from achievements of other businesses across the state. Visit the registry online at registry.njsbdc.com
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
Editor's Note: Photos of Jersey Central Power & Light's Green Team are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 15, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that its wholly-owned subsidiaries GPU Nuclear, Inc., Metropolitan Edison Company, Jersey Central Power & Light Company and Pennsylvania Electric Company have entered into an agreement for transfer of Three Mile Island Nuclear Generating Station Unit 2 (TMI-2) in Middletown, Pa. to TMI-2 Solutions, LLC, a subsidiary of EnergySolutions, Inc. of Charlotte, N.C.
The agreement would transfer the plant, property, nuclear decommissioning trust fund, plant licenses and responsibility for decommissioning of TMI-2 to the EnergySolutions subsidiary. The transfer is subject to required state and federal regulatory approvals. If approved, the proposed transaction is expected to close in the second half of 2020.
"Transfer of TMI-2 removes any future nuclear decommissioning obligations from FirstEnergy and is consistent with our strategy of focusing on regulated utility operations," said Greg Halnon, president and chief nuclear officer of GPU Nuclear. "EnergySolutions will complete the final remediation to transition TMI-2 from a safe and stable storage condition to a fully decommissioned facility."
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 11, 2019 /PRNewswire/ -- Today, Akron Public Schools (APS) Superintendent Dr. David James joined FirstEnergy President and CEO Charles Jones to announce that FirstEnergy will become a named integrated partner in the College and Career Academies of Akron at Kenmore-Garfield High School. FirstEnergy will offer instructional support and real-world learning opportunities in areas of business management, energy and environmental protection, information technology and more. The academy will be named the FirstEnergy Academy of Emerging Technology and Design.
"Students at Kenmore-Garfield are about to experience a new approach to learning that will create opportunities they may not have previously imagined," said James. "FirstEnergy has a wealth of expertise just waiting for our kids to mine."
"FirstEnergy is committed to the Akron area and we are proud to take a leading role in both education and economic development," said Jones. "The College and Career Academy at Kenmore-Garfield High School is a tremendous opportunity to allow our company and our employees to contribute their expertise to help cultivate our future workforce."
"We're thrilled to partner with FirstEnergy," said Kathryn Rodocker, campus principal of Kenmore-Garfield High School. "The strengths of FirstEnergy align perfectly with the pathways in our emerging technology and design academy. Their willingness to share their time and talent will benefit both our students and teachers."
The collaboration between Akron Public Schools and FirstEnergy was formed with the help of United Way of Summit County. United Way serves as a link between the College and Career Academies of Akron and local businesses to provide hands-on learning opportunities for students and to strengthen the education-to-employment pipeline in Summit County.
"We want Akron's students to be able to imagine themselves doing something fulfilling in their careers," said Jim Mullen, president and CEO of United Way of Summit County. "In order for that to happen, United Way has been connecting local businesses with the College and Career Academies to create first-hand experiences for the students. This also gives businesses the opportunity to demonstrate to our future professionals the skills they will need to succeed in their workplace."
APS was designated a Ford Next Generation Learning Community in May 2017. Ford Motor Company Fund, the philanthropic arm of Ford Motor Company, is supporting the transformation of public high schools into career-themed academies to better prepare students for college and professional success in today's competitive global economy. College and Career Academies of Akron are supported by the following key strategic partners: GAR Foundation, United Way of Summit County, ConxusNEO, Summit Education Initiative, and Greater Akron Chamber of Commerce.
About Akron Public Schools:
Akron Public Schools (APS) enrolls more than 21,000 students and employs 3,000 teaching and non teaching professionals in Northeastern Ohio. The district, one of the state's largest and most diverse, covers 62 square miles in a city of 195,000. APS educators are committed to rigorous teaching and learning, safe learning centers and community engagement to prepare young people to be well rounded and ready for the challenges of learning that follow in life. The goal of APS is to be the #1 urban school system in the United States. For more information about Akron Public Schools, visit AkronSchools.com.
About FirstEnergy:
FirstEnergy Corp. (NYSE: FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
About United Way of Summit County:
United Way of Summit County takes on the issues that matter most to children and families in Greater Akron. We pursue Bold Goals through forward-thinking strategies, innovative programs and hands-on work in our community. We team up with private and public leaders, local businesses and thousands of volunteers from across our community to create change that matters. Together, we are hand raisers. Game changers. Because there's a better future in store for Greater Akron, and the time is now to make it happen. Learn more at uwsummit.org.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 30, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today issued a Request for Proposal (RFP) to purchase both Ohio-compliant Solar Renewable Energy Credits (SRECs) and Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, The Illuminating Company and Toledo Edison. The purchases will help meet the companies' 2019 renewable energy targets established under Ohio's alternative energy law.
SRECs and RECs sought in this RFP must be eligible for compliance with the companies' 2019 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM Environmental Information System Generation Attribute Tracking System (EIS GATS), and generated between January 1, 2017, and December 31, 2019. The companies plan to purchase 11,400 SRECs and 401,200 RECs.
One SREC represents the environmental attributes of one megawatt hour of generation from a solar renewable generating facility qualified by the PUCO. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from utility customers through a monthly charge filed quarterly with the PUCO.
No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their SREC or REC generating facilities are certified or in the process of becoming certified by the PUCO.
The RFP is a competitive process managed by Navigant Consulting, Inc., an independent evaluator and a global consulting firm with expertise in energy markets, renewables and competitive procurements. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs and SRECs.
FirstEnergy's Ohio utilities have a website, http://www.FEOhioRECRFP.com, to provide bidders with a central source of documents, data and other information for the RFP process.
On October 8, 2019, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, Navigant, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website.
To participate in the RFP, potential bidders are encouraged to submit credit applications by October 29, 2019, and proposals are due November 5, 2019 by 5 p.m. EPT.
The RFP Manager is Dan Bradley, Managing Director, Navigant Consulting, Inc. He can be reached via e-mail at manager@FEOhioRECRFP.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 25, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy, has been honored with a 2019 Commerce and Industry Association of New Jersey (CIANJ) Best Practices award for its diversity and inclusion programs. The award was presented by CIANJ and COMMERCE Magazine at their annual Best Practices Conference on September 24 at Nanina's in the Park in Bellville, N.J.
CIANJ's Best Practices award highlights companies that are using "Best Practices" to advance their organization to the next level. Along with the announcement of award winners at the annual conference, CIANJ and COMMERCE Magazine also released their 2019 Best Practices Guide which includes insight from more than 100 leading business executives in New Jersey, including JCP&L President Jim Fakult.
"Increasing our emphasis on diversity and inclusion is helping to create a high-performing team and a culture where differences are respected, teamwork is encouraged, and employees feel valued, driven and empowered to do their best," said JCP&L President Jim Fakult. "Our employees' unique backgrounds, experiences and cultures help us develop innovative ideas and produce new, efficient ways to provide our 1.1 million customers with safe and reliable electric service."
Since 2015, JCP&L has enhanced its hiring, recruiting and development processes to focus on diversity and inclusion, introduced mentoring programs and expanded training options for employees. The company also supports several grassroots, employee-led business resource groups that focus on common dimensions of diversity, including women, people of color, LGBTQIA, veterans and individuals with disabilities. These groups provide diverse employees and their allies with a variety of development opportunities, including networking, mentoring, coaching, recruiting and community outreach.
In addition to promoting diversity and inclusion within the workplace, JCP&L also encourages supplier diversity. In 2018, JCP&L spent more than $21 million with minority, veteran, service disabled, and women-owned businesses based in the state. Nearly 26 percent of JCP&L's total spend in 2018 was with diverse suppliers.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 17, 2019 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 38 cents per share of outstanding common stock. The dividend will be payable December 1, 2019, to shareholders of record at the close of business on November 7, 2019.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 11, 2019 /PRNewswire/ -- Jersey Central Power and Light (JCP&L) is installing 1,700 new "TripSaver" automated reclosing devices on power lines across its service territory to help limit the frequency and duration of service interruptions. The electrical device works like a circuit breaker in a home with the added benefit of automatically re-energizing a power line within seconds to keep power safely flowing to customers.
This work is part of the $97 million JCP&L Reliability Plus Infrastructure Investment Program, with a special focus on addressing tree damage to the distribution system caused by severe weather events and reducing the frequency and duration of power outages.
"TripSaver installations are just one of many JCP&L Reliability Plus enhancements designed to help reduce the frequency of power outages and modernize the electric grid for JCP&L's customers," said Jim Fakult, president of JCP&L. "The addition of these devices will make restoring service an automatic process rather than sending a crew to investigate. This new technology is safer, more efficient and cost effective."
TripSavers are installed on local neighborhood power lines that branch from the main power line serving an area. When there is a temporary issue on the neighborhood line, such as a tree limb blowing into the line, the TripSaver responds in seconds, sensing when the branch is gone and automatically re-energizing the line to prevent an extended outage in the neighborhood. It also safely isolates the outage from the main power line, helping to avoid outages to customers across a larger area.
If the TripSaver senses a more serious issue, like a fallen tree on the power line, it will isolate the outage to that area and limit the total number of affected customers. The device's smart technology will quickly pinpoint the location of the fault and help utility personnel better understand the cause of the outage to help speed restoration.
To determine the best locations for TripSaver installations, engineers reviewed protections on the lines as well as outage patterns across JCP&L's service territory and identified areas that would most benefit. The company is on track to complete 1,700 installations on 310 circuits by the end of 2020.
A video of utility personnel explaining and installing a TripSaver device can be found on YouTube.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Jersey Central Power and Light crews installing the TripSaver devices are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 5, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has been named by Site Selection magazine as one of the nation's leading utilities in promoting economic development, helping to attract nearly 11,000 new jobs and $3.9 billion in third-party capital investment in its six-state service area in 2018.
The award recognizes utility companies that complement reliable power delivery to their customers with a hands-on approach to encouraging business development in their operational areas. Recipient utilities are chosen based on a mix of objective and subjective criteria, including what the utility does to help create jobs and facilitate investment in its area, website tools and data that can be used to help business development, and survey responses from customers and potential customers.
"Site Selection magazine's award demonstrates that our results-oriented efforts to promote job creation continue to enjoy success and recognition in the industry," said Patrick Kelly, director of economic development at FirstEnergy. "While much of our economic development activity involved projects in the West Virginia, Pennsylvania and Ohio shale gas regions, we also had economic success stories in all of our utility service areas."
Some of the larger projects fostered by FirstEnergy's collaborative economic development activities in 2018 were:
In addition to working closely with state and regional economic development organizations, FirstEnergy also established an office in Europe to help attract overseas business to FirstEnergy's areas.
Kelly says the best economic development assistance his team can provide is being an active liaison with one of FirstEnergy's own utilities. "Recently, a company named Silfex approached us to see what could be done to help them meet a very aggressive timeline in building a new facility in Springfield, Ohio," said Kelly. "We immediately engaged the customer support representative for our Ohio Edison utility, and she was able to provide exceptional customer service to ensure Silfex could meet their deadline."
Along with expertise in business development relationships and programs, Kelly says FirstEnergy is a trusted advisor to customers and communities in helping to meet their energy needs and sustainability goals. The company also is investing heavily in grid modernization to provide world-class infrastructure capable of powering energy-intensive industries.
FirstEnergy's greater emphasis on diversity and inclusion also is being applied to economic development.
"While FirstEnergy is placing greater importance on economic inclusion, it is very challenging to ensure all demographics of a region or community share equally in economic growth or business expansion," says Kelly. "Whether it be in our hometown of Akron, or other cities we serve, our goal is to encourage growth, opportunity and equity for all our customers."
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 4, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is teaming with local community organizations to hold Energy Assistance Days where customers can sign up for special financial assistance programs to help pay their utility bills or energy efficiency programs that could reduce the amount of electricity they use.
The events will take place in Monmouth, Morris, Warren, Sussex and Ocean counties beginning the second week of September and continue into October.
Representatives from JCP&L and several community agencies will be on hand to answer questions and help customers determine if they are eligible for financial assistance to pay a past-due utility bill, reduce future bills or to enroll in energy efficiency programs. In order to complete the required application on the day of the event, customers should bring their Social Security cards, proof of income for all household residents, deed or rental lease and a recent electric bill.
The Energy Assistance Day locations and dates include:
For additional information about energy assistance and conservation programs available for JCP&L customers visit www.firstenergycorp.com/billassistnj.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Aug. 12, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) participated in National Night Out events in 10 communities last week to help support local law enforcement efforts and promote the benefits of outdoor lighting in fighting crime.
Company representatives joined residents and first responders in Red Bank, Point Pleasant Beach, Asbury Park, Neptune, Long Branch, Berkeley, Pompton Lakes, Rockaway Borough, New Providence, and Morristown for hands-on activities and safety demonstrations. Additionally, the Point Pleasant, Asbury Park, and Morristown sites featured a JCP&L utility line truck.
"National Night Out is centered around building community awareness and safety, two very important initiatives JCP&L and its employees are proud to stand behind," said Jim Fakult, president of JCP&L. "We are dedicated to promoting safety within our service areas by powering streetlights and encouraging homeowners to ensure their property is well lit."
National Night Out is a campaign that promotes police-community partnership at the neighborhood level to improve safety. This was the 35th annual National Night Out, with thousands of events taking place the night of August 6 across all 50 states and Canada.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook www.facebook.com/JCPandL or online at www.jcp-l.com.
Editor's Note: Images from this year's National Night Out events are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 7, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has been honored by Crain's Cleveland Business with a 2019 Excellence in Human Resources Award for its workforce diversity and inclusion programs. The award recognizes FirstEnergy's efforts to increase diversity and establish an inclusive environment where all employees feel respected and that their input is valued.
FirstEnergy's focus on diversity and inclusion began in 2015 with the establishment of its Executive Diversity & Inclusion Council. Since then, FirstEnergy has enhanced its hiring, recruiting and development processes to focus on diversity and inclusion, introduced mentoring programs and expanded training options for employees. The company also supports several grass-roots, employee-led business resource groups that focus on common dimensions of diversity, including women, people of color, LGBTQIA, veterans and individuals with disabilities. These groups provide diverse employees and their allies with a variety of development opportunities, including networking, mentoring, coaching, recruiting and community outreach.
Additionally, FirstEnergy has expanded its supply chain efforts by partnering with diverse vendors, as well as aligned philanthropic and community involvement funding through the FirstEnergy Foundation with the company's diversity goals.
"Diversity and inclusion drive FirstEnergy's innovation and business success while also creating a rewarding and enriching work experience," said Chris Walker, FirstEnergy's senior vice president and chief human resources officer. "Our employees' unique backgrounds, experiences and cultures help us provide superior value to customers and investors, achieve excellence in our operations and make us a stronger and more successful company."
FirstEnergy introduced a D & I Index in its 2018 annual incentive compensation program that increases accountability around efforts to enhance culture and expand the diversity of professional hires and succession plan candidates. In addition, surveys that measure employee perceptions of diversity and inclusion have been conducted, with the results being used by implementation teams to engage employees in making FirstEnergy a top place to work with an inviting and open culture.
Judged by a panel of independent human resources professionals, Crain's Excellence in HR program honors Northeast Ohio's top human resources executives, teams and business leaders who are building companies with the best people, talent, development and culture. Nine categories highlight those who have gone above and beyond and are making lasting impressions in their field. All of the Crain's Excellence in HR Award winners are available at www.crainscleveland.com/awards/excellence-hr-2019.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's Diversity and Inclusion Team are available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., July 30, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has named Ronald Crocker external affairs consultant. Crocker will work out of JCP&L's Berkeley office, serving as a liaison to elected officials in all or parts of Burlington, Mercer, Monmouth and Ocean counties and supporting community involvement activities in those areas.
Crocker joined JCP&L in 1989. He was most recently a systems dispatcher responsible for managing the work activities of line crews in four central New Jersey counties and preparing resources and staffing for severe weather events. He also has been an account executive for JCP&L, providing customers with support on a wide range of lighting, billing and other service issues, and held the roles of meter reader and meter reader supervisor. Crocker earned a bachelor's degree in marketing from Hampton University in Virginia.
"Ronald's knowledge and experience in emergency management, customer support and community affairs will provide a great benefit to municipal officials and customers in the communities we serve," said James V. Fakult, president of JCP&L. "Adding his expertise to our team of highly qualified external affairs representatives will enhance JCP&L's public outreach and engagement."
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: A photo of Crocker is available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 29, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utility customers are eligible for rebates off the price of a 2019 Nissan LEAF or a 2019 LEAF Plus electric vehicle simply by showing their electric bill and a copy of the official program flyer to a participating Nissan dealership.
In addition, the purchaser could qualify for up to $7,500 in federal electric vehicle tax credits, plus be eligible for additional state and local benefits.
Depending on the model, the Manufacturer's Suggested Retail Price (MSRP) begins at under $30,000 for the Nissan LEAF and at $36,550 for the LEAF S Plus. The incentives are available from Nissan North America, Inc., through Sept. 30, 2019, or while supplies last.
FirstEnergy utility customers in the following states are eligible for a rebate of $5,000 off the price of a 2019 Nissan LEAF or $2,500 off the price of a 2019 LEAF Plus:
FirstEnergy utility customers in the following states are eligible for a rebate of $3,500 off the price of a 2019 Nissan LEAF or $2,500 off the price of a 2019 LEAF Plus:
The 2019 LEAF Plus features a 50% increase in range and a more powerful motor compared to standard LEAF models.
To receive the rebate, customers need to show their monthly utility billing statement and a copy of the promotional flyer available on their state's page at https://www.firstenergycorp.com/help/saving_energy/electric-vehicles.html to participating LEAF-certified Nissan dealerships listed at www.nissanusa.com/nissandealers/. Nissan suggests calling ahead to the dealership to confirm inventory.
The advantages of driving an all-electric vehicle include:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the all-electric Nissan LEAF Plus are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 25, 2019 /PRNewswire/ -- More than 3,500 line workers and support personnel continue to work around the clock restoring electric service to Jersey Central Power & Light (JCP&L) customers who lost power following damaging thunderstorms earlier this week.
Approximately 233,000 customers were originally impacted by the severe weather. As of noon today, less than 6,000 customers remain without service, with the majority expected to be restored by midnight tonight. A small number of customers in the hardest hit areas are expected to have power restored by tomorrow afternoon.
The restoration team includes JCP&L line workers, damage assessors, forestry specialists, dispatchers and support personnel working in conjunction with other FirstEnergy utility line crews and contractors. Crews are working as quickly and safely as work practices allow.
To handle the influx of outside workers and help make the restoration process more efficient, a staging area continues to operate in Monmouth County.
JCP&L representatives continue to provide updates to emergency management officials, state officials, regulators, and local officials about storm restoration efforts.
Information about current JCP&L outages is available at http://spr.ly/NJOutageMap.
JCP&L customers without power can report their outage by calling 888-LIGHTSS (888-544-4877) or text STAT to 544487 for current updates, including when a crew has been dispatched. JCP&L reminds customers to immediately report downed wires. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
Generator Safety Reminder
Customers are reminded to never use a portable generator inside the house or a closed garage in the event of a power outage. Proper generators should be selected and installed by a qualified electrician. When operating a generator, the power coming into the home should always be disconnected. Otherwise, power from the generator could be sent back onto the utility lines, creating a hazardous situation for utility workers.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., July 24, 2019 /PRNewswire/ -- More than 3,500 line workers and support personnel are in New Jersey working around the clock restoring electric service to Jersey Central Power & Light (JCP&L) customers who lost power following damaging thunderstorms Monday that produced wind gusts exceeding 70 mph and torrential rains.
About 220,000 JCP&L customers were restored within 36 hours after the storm began. As of 1:00 p.m., approximately 33,000 customers remain out of service, mostly in the hardest-hit areas of Monmouth, Ocean, Middlesex, Burlington and Mercer counties. JCP&L expects the majority of these customers to be restored by Friday evening, with many customers restored much sooner.
To handle the influx of outside workers and help make the restoration process more efficient, JCP&L has set up two staging areas, one in Monmouth County and one in Ocean County. A JCP&L mobile command center also has been set up to direct the outside workers to where they are most needed. In addition, helicopters and aerial drones are being used to inspect damaged power lines and other equipment.
"Our sizeable restoration team includes JCP&L line workers, damage assessors, forestry specialists, dispatchers and support personnel working in conjunction with other FirstEnergy line crews, contractors and outside utility resources secured through mutual assistance organizations," said Jim Fakult, president of JCP&L. "While we have made good progress, based on the damage we are seeing, many of the remaining outages, especially single customers without power, could take more crew time to restore fewer numbers of customers."
Information about current JCP&L outages is available at http://spr.ly/NJOutageMap. JCP&L customers without power can report their outage by calling 888-LIGHTSS (888-544-4877) or text STAT to 544487 for current updates, including when a crew has been dispatched.
As part of its storm restoration process, JCP&L has taken the following steps:
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems at any time during the restoration process.
Generator Safety Reminder
Customers are reminded to never use a portable generator inside the house or a closed garage in the event of a power outage. Proper generators should be selected and installed by a qualified electrician. When operating a generator, the power coming into the home should always be disconnected. Otherwise, power from the generator could be sent back onto the utility lines, creating a hazardous situation for utility workers.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of JCP&L's storm restoration efforts are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 23, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported second quarter 2019 GAAP earnings of $308 million or $0.58 per basic and diluted share, on revenue of $2.5 billion. In the second quarter of 2018, the company recorded GAAP earnings of $134 million, or $0.28 per basic and diluted share, on revenue of $2.6 billion. GAAP earnings for both periods include the impact of special items listed below.
Operating (non-GAAP) earnings* were $0.61 per share for the second quarter of 2019, and $0.62 per share for the second quarter of 2018.
"Our results for the second quarter exceeded the midpoint of our guidance, despite the unusually mild weather across our service area this spring," said Charles E. Jones, FirstEnergy president and chief executive officer. "We achieved strong operational performance as we continued to implement our strategic initiatives, and we are pleased to reaffirm our projection for 6% to 8% of compound annual growth from 2018 through 2021."**
FirstEnergy also updated its 2019 GAAP earnings forecast range to $1.265 billion to $1.425 billion, or $2.34 to $2.64 per share based on 540 million shares outstanding, and affirmed its operating (non-GAAP) earnings guidance of $2.45 to $2.75 per share. For the third quarter of 2019, the company is providing an earnings guidance range of $365 million to $430 million on both a GAAP and operating earnings basis, or $0.68 to $0.80 per share based on 540 million shares outstanding.
In FirstEnergy's Regulated Distribution business, lower operating expense, income taxes and net financing costs had a positive impact on results for the second quarter of 2019, but these factors were offset by lower distribution deliveries, primarily due to mild spring weather, higher depreciation expense, and the absence of a second quarter 2018 benefit related to a court ruling on renewable energy credits in Ohio.
Second quarter 2019 heating degree days were 20% below normal and 23% lower than the second quarter of 2018. Cooling degree days were 4% below normal, and 28% lower than the same period of 2018.
Total distribution deliveries decreased 5.5% compared to the second quarter of 2018. Residential sales decreased 9.7%, while deliveries to commercial customers decreased 5.6%. Deliveries to industrial customers decreased 1.7% as lower demand from steel and automotive customers offset continued growth in the shale sector.
In the Regulated Transmission business, second quarter earnings increased as a result of a higher rate base from continued investments in the company's Energizing the Future initiative and a lower tax rate.
In the Corporate/Other segment, results for the second quarter of 2019 reflect lower expenses, partially offset by higher net financing costs.
For the first six months of 2019, FirstEnergy's GAAP earnings were $623 million, or $1.17 per basic and diluted share on revenue of $5.4 billion. This compares to GAAP earnings of $1.4 billion or $2.86 per basic share ($2.85 diluted) in the first half of 2018, on revenue of $5.5 billion. GAAP earnings for the first half of 2018 included a gain on the deconsolidation of FirstEnergy Solutions Corp., its subsidiaries, and FirstEnergy Nuclear Operating Company as a result of their bankruptcy filing on March 31, 2018.
Operating (non-GAAP) earnings for the first half of 2019 were $1.28 per share, compared to $1.29 per share in the first half of 2018.
Consolidated GAAP Earnings to Operating (Non-GAAP) | ||||||||||
Three Months | Six Months | 2019 Estimates | ||||||||
2019 | 2018 | 2019 | 2018 | Third | Full | |||||
Net Income attributable to Common Stockholders (GAAP) - $M | $ 308 | $ 134 | $ 623 | $ 1,364 | $365 - $430 | $1,265 - $1,425 | ||||
Earnings Per Share | $ 0.58 | $ 0.28 | $ 1.17 | $ 2.86 | $0.68 - $0.80 | $2.34 - $2.64 | ||||
Excluding Special Items*: | ||||||||||
Impact of full dilution | – | 0.27 | – | 0.25 | – | – | ||||
Regulatory charges | – | (0.17) | (0.01) | (0.16) | – | (0.01) | ||||
Tax reform | – | 0.02 | – | 0.02 | – | – | ||||
Debt redemption costs | – | 0.21 | – | 0.21 | – | – | ||||
Exit of competitive generation | 0.03 | 0.01 | 0.12 | (1.89) | – | 0.12 | ||||
Total Special Items* | 0.03 | 0.34 | 0.11 | (1.57) | – | 0.11 | ||||
Operating EPS (non-GAAP) | $0.61 | $0.62 | $1.28 | $1.29 | $0.68 - $0.80 | $2.45 - $2.75 | ||||
Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by number of shares outstanding assuming full impact of dilution from the $2.5 billion equity issuance in January 2018. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount if deductible/taxable. The income tax rates range from 21% to 29% in 2019 and 2018. 2019 Estimates of Earnings Per Share and Operating Earnings Per Share – (Non-GAAP) for the Third Quarter and Full Year are based on 540M shares outstanding. |
Non-GAAP Financial Measures:
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented in 2018 by 538 million shares, 539 million shares in the second quarter of 2019 and by 540 million shares for the third quarter and full year 2019, which reflects the full impact of share dilution from the equity issuance in January 2018. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Investor Materials and Teleconference
FirstEnergy's Strategic and Financial Highlights and Investor Factbook are posted on the company's Investor Information website – www.firstenergycorp.com/ir. Click on the Second Quarter 2019 Financial Results link.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Second Quarter 2019 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of change or energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system, which may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable reliability standards and energy efficiency and peak demand reduction mandates; changes to environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., July 23, 2019 /PRNewswire/ -- Service has been restored to more than 104,000 Jersey Central Power & Light (JCP&L) customers who lost power last evening following damaging thunderstorms that produced wind gusts exceeding 70 mph and torrential rains.
As of 11:30 a.m., approximately 153,600 customers remain out of service, mostly in the hardest-hit areas of Monmouth, Ocean, Middlesex, Burlington and Mercer counties. Significant tree damage and flooding are slowing access to many areas. JCP&L crews are addressing more than 1,000 safety hazards and nearly 140 road closures while evaluating damage and isolating equipment to enable repairs to be made. Due to the extent of damage, restoration activities are expected to take several days. JCP&L will disclose a more specific restoration timetable for areas affected by the storm as damage assessments are completed.
About 1,100 JCP&L linemen, damage assessors, hazard responders, forestry personnel, dispatchers and contractors are working to restore customer outages. JCP&L resources from the northern part of the state are being redirected to assist in central New Jersey. In addition, approximately 700 line workers and 275 hazard responders, damage assessors and public protectors from other FirstEnergy utilities and contractors are on-site or in transit to assist with restoration efforts in central New Jersey. Two staging sites for the additional resources are being set up.
"Our crews are working around the clock to restore customers who lost power due to last night's severe thunderstorms," said Jim Fakult, president of JCP&L. "The high winds resulted in significant tree-related damage to our system, including broken poles and downed wires that will need to be replaced. We will continue to deploy additional resources as necessary until all customers have had service restored."
As part of its storm restoration process, JCP&L has taken the following steps:
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems at any time during the restoration process.
Customers are reminded to never use a portable generator inside the house or a closed garage in the event of a power outage. Proper generators should be selected and installed by a qualified electrician. When operating a generator, the power coming into the home should always be disconnected. Otherwise, power from the generator could be sent back onto the utility lines, creating a hazardous situation for utility workers.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of damage caused by the storm are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 17, 2019 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio utilities – Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison – announced today that the Public Utilities Commission of Ohio (PUCO) approved a comprehensive settlement agreement that will return additional savings to customers related to federal income tax law changes and includes investments to modernize the electric distribution system with advanced automation equipment, real-time voltage controls and smart meters.
The settlement is supported by the PUCO Staff, residential consumers, low income advocates, representatives of industrial and commercial customers, environmental advocates, hospitals, competitive generation suppliers and other parties.
FirstEnergy's Ohio customers will receive 100 percent of the tax savings created by the federal Tax Cut and Jobs Act, which includes tax savings already credited to customers since last year. As a result of the additional tax savings, a typical residential customer using 1,000 kilowatt hours of electricity could expect to see a reduction of over $4 in monthly bills.
"We are pleased to resolve the tax reform issues and will pass along the tax savings to customers," said Samuel L. Belcher, senior vice president and president of FirstEnergy Utilities. "We look forward to modernizing our electric system with advanced equipment that will help reduce the number and duration of power outages. Smart meters also will allow our customers to make more informed decisions about their energy usage."
Key components of FirstEnergy's approved grid modernization plan include:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-looking statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations, and typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect FirstEnergy, FirstEnergy's liquidity or results of operations, including, without limitation, that conditions to our settlement agreement with respect to the FES Bankruptcy settlement agreement may not be met or that such settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES, FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments at the federal and state levels, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of state and federal energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes to federal and state environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of the retired nuclear facility owned by FirstEnergy subsidiaries; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by the unionized workforce of FirstEnergy subsidiaries; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's SEC filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, together with any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 17, 2019 /PRNewswire/ -- The All-American Soap Box Derby announced today that FirstEnergy Corp. is extending its title partnership for five years, continuing the relationship between the two Akron-based institutions that began in 2012.
The extension was announced during "race week" activities surrounding the 82nd FirstEnergy All-American Soap Box Derby, with more than 400 boys and girls in Akron from throughout the United States, Canada and Japan to compete in their gravity-powered race cars for a share of $36,000 in college scholarships. The world championship races are Saturday, July 20 at Derby Downs.
"FirstEnergy is proud to continue our sponsorship of a signature event that brings people from all over the world to Akron," said Charles E. Jones, FirstEnergy's president and chief executive officer. "For more than 80 years, this organization has provided young people the opportunity to learn important design, engineering and other STEM lessons, while at the same time developing the value of teamwork and friendly competition. By sponsoring the event, we want to help make sure this great Akron tradition continues."
"FirstEnergy has been an excellent partner of the Soap Box Derby since 2012, and we are grateful and thrilled that the company is extending our relationship for another five years," said Mark Gerberich, president and chief executive officer of International Soap Box Derby.
"FirstEnergy's title sponsorship enables our organization to expand Soap Box Derby programs to new communities and to more youngsters, to enhance the experience for boys and girls and their families who come to Akron for the FirstEnergy All-American Soap Box Derby and ensures our financial stability," Gerberich said. "In addition to its financial commitment, FirstEnergy and its staff are strong supporters of our marketing and volunteer efforts."
In addition to Jones and Gerberich, the sponsorship press conference included Akron Mayor Daniel Horrigan, and Cleveland Browns players who play at FirstEnergy Stadium in downtown Cleveland, including tight end Seth Devalve, rookie defensive back Tigie Sankoh and defensive tackle Daniel Ekuale.
ABOUT FIRSTENERGY
FirstEnergy Corp. (NYSE: FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com or on Twitter @FirstEnergyCorp.
ABOUT THE SOAP BOX DERBY
The Soap Box Derby is an international nonprofit organization whose mission is to build knowledge and character, and to create meaningful experiences through collaboration and fair and honest competition. The Derby's Core Values and Drivers include: Youth Education and Leadership Development; Family Engagement and Enrichment; Honesty, Integrity and Perseverance; Innovation and Entrepreneurship; Teamwork and Collaboration; Mentoring; Volunteerism, and Commitment to Community. The Derby's two youth initiatives are the FirstEnergy All-American Soap Box Derby racing program and the STEM-based Education Program, which provides educational opportunities for K-12 youth worldwide through Soap Box Derby racing. For more information, visit soapboxderby.org.
Editor's Note: Photos of The All-American Soap Box Derby are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 16, 2019 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 38 cents per share of outstanding common stock. The dividend will be payable September 1, 2019, to shareholders of record at the close of business on August 7, 2019.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments at the federal and state levels, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of state and federal energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes to federal and state environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 16, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the second quarter of 2019 after markets close on Tuesday, July 23. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Wednesday, July 24. 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 slides associated with the presentation via FirstEnergy's investor information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its second quarter presentation and supporting materials to the investor section of the website after markets close on July 23.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 12, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has promoted Kevin Burgess to vice president, Risk and Internal Audit, effective July 21, 2019. In this role, Burgess will oversee the combination of the company's risk management and internal auditing departments into one group. He currently is director, Internal Auditing & Chief Audit Officer for FirstEnergy.
"Kevin's years of experience in standardizing and implementing business and reporting processes – along with his prudent judgement and leadership skills – will be an asset to our team," said Steve Strah, senior vice president & Chief Financial Officer, FirstEnergy. "His familiarity with risk functions and disciplined approach to internal auditing supports a decision to combine the teams – two areas critical to our ability to meet our obligations to employees, customers and investors."
Burgess started with FirstEnergy in 1999 as manager, Business Services, for two of the company's generating plants. In 2002, he became director of Planning and Analysis for FirstEnergy Solutions (FES) and in 2004, he advanced to assistant controller of FES, where he had financial responsibilities for FirstEnergy's fossil and nuclear generating plants, as well as Commodity Operations and Competitive Retail Sales.
He became assistant controller of FirstEnergy Utilities (FEU) in 2005, and assistant controller, Corporate, in 2010. In 2012, he was promoted to executive director, FirstEnergy Solutions, Finance, and in 2013, named to executive director, Internal Audit.
A resident of Hudson, Burgess earned a Bachelor of Arts degree in economics and business with an emphasis in accounting, from Hendrix College, in Conway, AR, and received a Master of Business Administration degree from The Ohio State University. He serves on the Board of Governors for the Northeast Ohio Chapter of the Institute of Internal Auditors.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of Kevin Burgess, newly promoted vice president of Risk and Internal Audit at FirstEnergy, is available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 12, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has earned the Emergency Response Award from the Edison Electric Institute (EEI) for its efforts to restore more than a million customers to service after a several-day wind storm in late February. EEI is a leading electric industry organization.
Winds that reached 70 miles per hour battered the company's six-state service area, from Ohio to New Jersey, and the entire region experienced sustained 40 mile-per-hour winds for a 12 hour period.
These gusts and sustained winds not only did significant damage to the company's transmission and distribution systems, but also delayed restoration efforts because workers were unable to safely work to repair overhead lines until the wind speeds dropped.
In total, with assistance from thousands of outside workers from 18 states, the company replaced more than 127 miles of wire, more than 1,100 poles and nearly 800 transformers, visiting more than 10,000 damaged locations to restore power to all affected customers.
"FirstEnergy is deserving of this award for its efforts to restore service quickly and safely in the Mid-Atlantic after the wind storm," said EEI President Tom Kuhn. "The dedication of FirstEnergy's crews reflect the electric power industry's commitment to its customers, and I thank them for their tireless work."
"This EEI award recognizes the outstanding efforts of our crews and support personnel, who work around the clock in difficult circumstances to restore power when severe weather impacts our service area," said Sam Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "I'm very proud of our crews, who teamed to complete repairs safely and efficiently despite extra challenges created by the sustained high winds that caused so much damage over a period of days across our service area."
EEI presents awards twice annually to member companies to recognize extraordinary efforts to restore power or for assisting other electric companies after service disruptions caused by weather conditions and other natural events. Winners are chosen by a panel of judges following an international nomination process. The awards were presented June 11, 2019, during the summer EEI Board of Directors and CEO meeting.
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than 65 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
Editor's Note: A photo of FirstEnergy Senior Vice President and President of FirstEnergy Utilities Sam Belcher accepting the emergency response award from EEI is available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 10, 2019 /PRNewswire/ -- Ohio Edison and Penn Power have hired 34 new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers. The new employees include 23 line workers and 11 substation electricians in Ohio and Pennsylvania.
The PSI training program was reinstituted in 2014 by FirstEnergy at Stark State College in North Canton and Kent State University at Trumbull in Warren. This is the third graduating class since 2014.
"Our PSI program develops top-quality, well-educated men and women for the electric utility industry," said Edward Shuttleworth, regional president of Ohio Edison and Penn Power. "We look forward to these graduates joining our workforce to help continue providing safe and reliable electric service for our customers."
The new Ohio Edison line employees, listed by work location with their hometowns, are:
The new Ohio Edison substation employees, listed by work location with their hometowns, are:
The new Penn Power line employees, listed by work location with their hometowns, are:
The new Penn Power substation electrician employees listed by work location, with their hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
PSI students split time between classes at Stark State and Kent State Trumbull and Ohio Edison training facilities in Massillon and Warren. Since the program's inception, FirstEnergy has hired nearly 1,900 line workers and substation personnel who completed PSI programs in Maryland, New Jersey, Ohio, Pennsylvania and West Virginia.
For information about the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Ohio Edison is a subsidiary of FirstEnergy Corp. and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com. Follow Penn Power on Twitter @Penn Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy Power Systems Institute graduates are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 10, 2019 /PRNewswire/ -- The Illuminating Company has hired 24 new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers.
The new line workers are recent graduates of the company's PSI training partnership with Cuyahoga Community College (Tri-C) in Cleveland and Kent State University Trumbull in Warren.
"Our PSI program develops top-quality, well educated men and women for the electric utility industry," said Mark A. Jones, regional president of The Illuminating Company. "We look forward to these graduates joining our workforce to help continue providing safe and reliable electric service for our customers."
The new Illuminating Company line employees, with work location and hometown, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
PSI students split time between classes at our partnering colleges and The Illuminating Company's training facility in Brooklyn. Since the program's inception, FirstEnergy has hired more than 1,900 line and substation personnel who completed PSI programs in Maryland, New Jersey, Ohio, Pennsylvania and West Virginia.
For information about the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of The Illuminating Company PSI training program graduates are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 10, 2019 /PRNewswire/ -- Toledo Edison has hired nine new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers. The new line workers graduated from the PSI training partnership with Owens Community College in Perrysburg.
"Our PSI program develops top-quality, well educated men and women for the electric utility industry," said Rich Sweeney, regional president of Toledo Edison. "We look forward to these graduates joining our workforce to help continue providing safe and reliable electric service for our customers."
The new Toledo Edison line employees listed by work location, with their hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
PSI students split time between classes at Owens Community College in Perrysburg and Toledo Edison training facilities. Since the program's inception, FirstEnergy has hired more than 1,900 line and substation personnel who completed PSI programs in Maryland, New Jersey, Ohio, Pennsylvania and West Virginia.
For information about the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the Toledo Edison PSI training program graduates are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/toledo-edison-adds-new-line-and-substation-workers-from-power-systems-institute-training-programs-300864787.html
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., June 10, 2019 /PRNewswire/ -- Mon Power has hired 28 new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers. The new employees include 17 line and eight substation workers in West Virginia.
The PSI utility training partnership was established in 2012 at Pierpont Community & Technical College in Fairmont, W.Va. These new hires include three graduates of our program at Kent State University Trumbull in Warren, Ohio.
"Our PSI program prepares men and women for a rewarding career in the electric utility industry," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "We welcome these graduates into our workforce as they help the Mon Power team provide safe and reliable electric service for our customers."
The new Mon Power line employees, listed by work location, with their hometowns, are:
The new Mon Power substation employees, listed by work location with their hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI curriculum requires two-and-a-half days each week spent at Pierpont Community & Technical College completing academic course work with the remainder of the week spent at a Mon Power training facility in White Hall, W.Va., focusing on safe work practices and procedures in the electrical environment. Ultimately, students earn an associate of applied science degree in Electric Utility Technology.
Since the program was developed in 2000, FirstEnergy has hired nearly 1,900 line workers and substation personnel who completed PSI programs in Ohio, Pennsylvania, New Jersey and West Virginia.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Visit FirstEnergy on the web at www.firstenergycorp.com and follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of the Mon Power PSI training program graduates are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/mon-power-hires-new-graduates-from-power-systems-institute-training-program-300864780.html
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., June 10, 2019 /PRNewswire/ -- Potomac Edison has hired 15 new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers. The new employees include 13 line workers and two substation electricians.
The new employees recently graduated from the PSI program established with Blue Ridge Community & Technical College in Martinsburg, W.Va. in 2015. Two additional new substation electricians graduated from other partnering colleges.
"Our PSI program develops top-quality, well educated men and women for the electric utility industry," said James A. Sears, Jr., president of FirstEnergy's Maryland Operations. "We look forward to these graduates joining our workforce to help continue providing safe and reliable electric service for our customers."
The new Potomac Edison line employees, with their work locations and hometowns, are:
The new Potomac Edison substation employees, with their work locations and hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI curriculum for lines employees requires two-and-a-half days each week spent at Blue Ridge completing academic course work, with the remainder of the week spent at a Potomac Edison training facility in Williamsport, Md. All students focus on safe work practices and procedures in the electrical environment. The graduates earned an associate of applied science degree in Electric Utility Technology.
Since the program was developed in 2000, FirstEnergy has hired over 1,900 line workers and substation personnel who completed PSI programs in Ohio, Pennsylvania, Maryland, New Jersey and West Virginia.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Potomac Edison serves about 263,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of the Potomac Edison PSI training program graduates are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/potomac-edison-hires-new-graduates-from-power-systems-institute-training-program-300864784.html
SOURCE FirstEnergy Corp.
ERIE, Pa., June 10, 2019 /PRNewswire/ -- Pennsylvania Electric Company (Penelec) has hired 31 new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers.
The new employees include 25 line workers who graduated from the program at Porecco College in Erie and six substation electricians who graduated from the program at Penn Highlands Community College in Johnstown.
"Our PSI program develops top-quality, well educated men and women for the electric utility industry," said Nick Austin, regional president of Penelec. "We look forward to these graduates joining our workforce to help continue providing safe and reliable electric service for our customers."
The new line employees, with their work location and hometowns, are:
The new substation employees with their work location and hometowns are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI curriculum for lines employees requires two-and-a-half days each week spent at Porecco College completing academic course work, with the remainder of the week spent at a Penelec training facility in Erie. The PSI curriculum for substation employees requires a half week spent at Penn Highlands Community College completing academic course work, with the rest of the week spent at a FirstEnergy facility in Pennsylvania. All students focus on safe work practices and procedures in the electrical environment. The graduates earned an associate of applied science degree in Electric Utility Technology.
Since the program's inception, FirstEnergy has hired over 1,900 line workers and substation personnel who completed PSI programs in Maryland, West Virginia, Ohio, Pennsylvania and New Jersey.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the Penelec PSI training program graduates are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/penelec-hires-new-graduates-from-power-systems-institute-training-program-300864783.html
SOURCE FirstEnergy Corp.
READING, Pa., June 10, 2019 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) has hired 20 new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers. The new employees include 15 line workers and five substation electricians who are recent graduates of the PSI training partnership with Reading Area Community College (RACC) in Reading, Pa.
"Our PSI program develops top-quality, well educated men and women for the electric utility industry," said Linda Moss, regional president of Met-Ed. "We look forward to these graduates joining our workforce to help continue providing safe and reliable electric service for our customers."
The new Met-Ed line employees, listed by work location and hometowns, are:
The new substation employees, listed by work location and hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI curriculum for lines and substation employees requires two-and-a-half days each week spent at Reading Area Community College completing academic course work, with the remainder of the week spent at a Met-Ed training facility in Reading or a substation facility in Philipsburg, N.J. All students focus on safe work practices and procedures in the electrical environment. The graduates earned an associate of applied science degree in Electric Utility Technology.
Since the program's inception, FirstEnergy has hired over 1,900 line workers and substation personnel who completed PSI programs in Maryland, West Virginia, Ohio, Pennsylvania and New Jersey.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's Power Systems Institute training program are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/met-ed-hires-new-graduates-from-power-systems-institute-training-program-300864778.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 10, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has hired 25 new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers. The new employees include 17 line workers and eight substation electricians.
The new employees are graduates of the PSI training programs at Brookdale Community College in Lincroft and Raritan Valley Community College in Branchburg.
"Our PSI program develops top-quality, well-educated men and women for the electric utility industry," said Jim Fakult, president of JCP&L. "We look forward to these graduates joining our workforce to help continue providing safe and reliable electric service for our customers."
The new line employees and hometowns are:
The new substation employees and hometowns are:
In addition, two current JCP&L employees also completed the PSI line program. They are Brad Bodine, Easton, and Glenn Ferriso, Holmdel.
All the graduates will be assigned to line and substation shops across JCP&L's service area. Their work assignments will rotate as part of the training program.
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
PSI students split time between classes at the two colleges and JCP&L training facilities in Farmingdale and Phillipsburg. Since the program's inception, FirstEnergy has hired more than 1,900 line and substation personnel who completed PSI programs in Maryland, New Jersey, Ohio, Pennsylvania and West Virginia.
For information about the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of the FirstEnergy/JCP&L Power Systems Institute training program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., June 10, 2019 /PRNewswire/ -- West Penn Power has hired 34 new graduates of the Power Systems Institute (PSI), a FirstEnergy Corp. (NYSE: FE) program to train the next generation of line and substation workers. The new employees include 26 line workers and eight substation electricians.
The new line employees are recent graduates of the company's PSI utility training partnership with Westmoreland County Community College in Youngwood, Pa. The eight new substation electricians graduated from the PSI program at Pennsylvania Highlands Community College in Johnstown, Pa.
"Our PSI program develops top-quality, well-educated men and women for the electric utility industry," said John Rea, regional president of West Penn Power. "We look forward to these graduates joining our workforce to help continue providing safe and reliable electric service for our customers."
The new West Penn Power line employees, listed by work locations and hometowns, are:
The new West Penn Power substation employees, listed by work locations and hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI curriculum for lines employees requires two-and-a-half days each week spent at Westmoreland County Community College completing academic course work, with the remainder of the week spent at a West Penn Power training facility in Jeanette, Pa. The PSI curriculum for substation employees requires a half week spent at Pennsylvania Highlands completing academic course work, with the rest of the week spent at a FirstEnergy training facility in Johnstown, Pa. All students focus on safe work practices and procedures in the electrical environment. The graduates earned an associate of applied science degree in Electric Utility Technology.
Since the program was developed in 2000, FirstEnergy has hired more than 1,900 line workers and substation personnel who completed PSI programs in Ohio, Pennsylvania, Maryland, New Jersey and West Virginia.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of the West Penn Power PSI training program graduates are available for download on Flickr.
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SOURCE FirstEnergy Corp.
READING, Pa., June 6, 2019 /PRNewswire/ -- Tracing its roots to a handful of companies that illuminated downtown streetlights – from dusk until an hour after the saloons closed in some spots – the Pennsylvania Electric Company (Penelec), a FirstEnergy Corp. (NYSE: FE) utility, marks its 100th anniversary on June 10.
What began long ago as a tiny company in Philipsburg, Pa., with 16 customers along 2 miles of line, Penelec has evolved into a modern electric utility with more than 700 employees serving nearly 600,000 customers throughout a sprawling 17,000-square-mile service territory, the largest footprint of any FirstEnergy utility.
"The world has changed immeasurably over the last hundred years, and Penelec has been there each step of the way, delivering safe, reliable electric service to our customers," said Nick Austin, Penelec's regional president. "Our employees continue to work tirelessly to satisfy our customers' desire for the latest electric conveniences and technologies."
Penelec will celebrate its 100th anniversary with active employees over breakfast in Johnstown, Erie, Altoona and 14 other company locations on June 10. Penelec retirees will be honored at receptions where they can visit with former co-workers, swap stories, view old photos and watch a video. Retiree receptions are scheduled throughout the week of June 10 at company locations in Johnstown, Altoona, Erie, Meadville, Oil City, Mansfield, Towanda, Lewistown and Shippensburg.
Pennsylvania State Rep. Parke Wentling, a Republican representing parts of Crawford, Erie, Lawrence and Mercer counties, will present a resolution in honor of Penelec's milestone anniversary on June 11 in Harrisburg. Scott Wyman, president of FirstEnergy's Pennsylvania operations, will join Austin to accept the resolution on the floor of the state House of Representatives.
Penelec's History Mirrors Pennsylvania's Economic Growth
On June 10, 1919, the numerous electric companies that powered towns and cities such as Erie, Warren, Huntingdon, Lewistown, Bedford, Punxsutawney, Towanda and Oil City consolidated to form the Penn Public Service Corporation, headquartered in Johnstown, Pa. It was "grow or go" time for the fledgling industry, and Penn Public Service would swallow more than 20 small electric companies via mergers and acquisitions over the next decade.
An innovative Penn Public Service built and energized what was dubbed a "super power line" in 1926 to connect its Piney Hydroelectric Station on the Clarion River in Clarion County to West Penn Power Company facilities in neighboring Armstrong County. This new line was the final link of a transmission connection that joined networks of 17 electric companies stretching from Chicago to Boston. Penn Public Service changed its name to the familiar Pennsylvania Electric Company or Penelec in 1927.
Linemen and their horse-drawn service wagons became commonplace as the 1920s progressed, just as people expected more from electricity than brighter streets and sidewalks. They demanded electric-powered lights in each room of their homes and clamored for electric irons, washing machines, vacuum cleaners and other "necessities" to ease their chores.
Never shy to promote novel ways for customers to use its product, Penelec in 1938 partnered with Westinghouse in the "Tuff Guy School" advertising campaign, highlighting the efforts of apron-clad men as they learned to cook tasty meals with electric kitchen appliances.
Residential electric consumption and industrial growth in Penelec's service area continued after World War II. In 1946, Penelec became part of General Public Utilities (GPU), which merged with FirstEnergy Corp. in 2001.
A Tradition of Strong Community Support
"Penelec's commitment to the areas we call home doesn't stop with the delivery of reliable electric service," Austin said. "Our employees live in the communities we serve, happily volunteering their time, talents and dollars to make each a better place to live, work and raise families."
Since 2010, Penelec employees, augmented by FirstEnergy Foundation matching gifts, have pledged about $700,000 to area United Way organizations and collected about $153,000 and 5,500 pounds of food – the equivalent of nearly 1.1 million meals – for local food banks through Harvest for Hunger. They've also participated in walk-a-thons, book drives, coat drives, blood drives, and holiday toy and gift collections for numerous other charitable causes.
Penelec, a subsidiary of FirstEnergy Corp., serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Historical photos of Penelec line crews at work, and Tuff Guy School cooking students are available for download on Flickr.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., June 5, 2019 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is now offering its Maryland customers even more money back when they recycle their old working refrigerators and freezers. The incentive for recycling these appliances has been increased from $50 to $75 through the end of the year. Customers who also recycle a working room air conditioner or dehumidifier along with a refrigerator or freezer will receive an additional $25.
The energy efficiency incentives are available through EmPOWER Maryland programs, which provide customers an opportunity to earn extra money while reducing household energy use.
Potomac Edison customers in Maryland can participate by visiting www.energysaveMD.com or calling 888-277-0528 to arrange a home pickup. The $75 incentive applies to pickup requests made from now until December 31, 2019.
"The appliance recycling program provides our customers with a convenient, safe and responsible way to get rid of older appliances," said James A. Sears, Jr., president of FirstEnergy's Maryland Operations. "Removing an outdated refrigerator can save up to $150 a year in energy costs. And now, customers can get an additional $75 incentive for recycling through this program."
Units will be picked up by ARCA Recycling, Inc., offering state-of-the-art appliance recycling services designed to guarantee that every appliance collected through energy efficiency programs is fully and properly disassembled. This includes ensuring all hazardous materials and components are removed, stored, transported and disposed of in a responsible manner in accordance with federal, state and local rules and regulations.
EmPOWER Maryland programs are funded by a charge on customer energy bills. EmPOWER programs can help reduce energy consumption and save money. To learn more about EmPOWER and how you can participate, go to www.energysaveMD.com.
Potomac Edison serves about 263,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/potomac-edison-customers-can-now-receive-75-to-recycle-old-fridge-through-2019-300862613.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., May 29, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has named three new external affairs consultants to serve as liaisons with elected officials and to support local community involvement activities.
Carol Bianchi will work out of JCP&L's Summit facility, serving all or parts of Essex, Morris, Somerset and Union counties; Robert "Bob" Flynn will work out of the company's Boonton facility and serve all or parts of Essex, Morris, Passaic and Somerset counties; and Frank Luna will work out of Long Branch, serving much of Monmouth County.
"These new employees are well established in creating and maintaining successful relationships with municipal, county and state officials," said James V. Fakult, president of Jersey Central Power & Light. "Their knowledge, experience and deep interest and involvement in their communities will benefit the customers and communities served by JCP&L."
Bianchi is completing her final term on the Bernards Township Committee and currently serves as Mayor. She also is co-chair of the Somerset County Employers Legislative Committee and was president of the Somerset County Governing Officials Association. Bianchi received a bachelor's degree from Rutgers University and a Juris Doctor from Seton Hall School of Law.
Flynn most recently served as district manager for ADP in Florham Park, New Jersey. He previously worked as the Director of the Advance Department and special events for the governor of New Jersey after having worked for the Republican National Committee and in Congressman Frelinghuysen's district office in Morristown. Flynn received a bachelor's degree from the University of Scranton in International Relations.
Luna was district chief of staff for Congressman Tom MacArthur and served as his campaign manager in 2014. Prior to that, he worked at The Anchor's Bend in Asbury Park, the New Jersey Republican State Committee, and as director of constituency outreach in the office of Governor Chris Christie. Luna, who lives in Bradley Beach, graduated with a bachelor's degree in Political Science from The Richard Stockton College of New Jersey.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos of the new external affairs managers are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/jcpl-names-three-new-external-affairs-consultants-300858194.html
SOURCE FirstEnergy Corp.
NEW CASTLE, Pa., May 28, 2019 /PRNewswire/ -- The Pennsylvania Power Company (Penn Power) is installing 120 new "TripSaver" automated reclosing devices on power lines across Crawford, Lawrence and Mercer counties to help limit the frequency and duration of service interruptions. The electrical device works like a circuit breaker in a home with the added benefit of automatically re-energizing a power line within seconds to keep power safely flowing to customers.
TripSavers are installed on local neighborhood power lines that branch from the main power line serving an area. When there is a temporary issue on the neighborhood line, such as a tree limb blowing into the line, the TripSaver responds in seconds, sensing when the branch is gone and automatically re-energizing the line to prevent an extended outage in the neighborhood. It also safely isolates the outage from the main power line, helping to avoid outages to customers across a larger area.
If the TripSaver senses a more serious issue, like a fallen tree on the power line, it will isolate the outage to that area and limit the total number of affected customers. The device's smart technology will quickly pinpoint the location of the fault and help utility personnel better understand the cause of the outage to help speed restoration.
"TripSavers allow us to automatically restore service to customers rather than sending a crew to investigate, which is especially helpful in rural areas," said Ed Shuttleworth, regional president of Ohio Edison and Penn Power. "This automated technology is safer and saves time and money."
To determine the best locations for these devices, utility personnel reviewed outage patterns across Penn Power's service area and identified outage-prone areas in Crawford, Lawrence and Mercer counties that would benefit from a TripSaver. The company is on track to complete all 120 installations by late fall of this year.
A video of utility personnel explaining and installing a TripSaver device can be found on YouTube.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Penn Power crews installing the TripSaver devices are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 22, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced promotions in its Human Resources and Finance organizations.
Christine L. Walker, vice president, Human Resources, has been named senior vice president and chief human resources officer, effective July 1, 2019. She succeeds Charles D. Lasky, who is retiring from FirstEnergy after 33 years of service. Walker will report to FirstEnergy President and Chief Executive Officer Charles E. Jones.
"We appreciate the many contributions and thoughtful leadership Charlie provided during his career, which includes nearly two decades in fossil fleet and human resources leadership roles," Jones said. "In her new position, Chris will assume overall responsibility for our human resources function, and focus on building a world-class workforce by advancing FirstEnergy's career management, succession planning and diversity and inclusion initiatives."
In the finance organization, Tracy M. Ashton, director of business planning and performance, has been named assistant controller, Corporate, effective May 26, 2019. Ashton will report to Vice President, Controller and Chief Accounting Officer Jason Lisowski.
Walker began her career with GPU, Inc., in the Information Technology organization and held various positions in Human Resources and Customer Service prior to GPU's merger with FirstEnergy in 2001. She was promoted to director, Compensation and Retirement programs in 2005, named executive director, Human Resources, in 2011, and executive director, Talent Management, in 2016. She was named vice president, Human Resources, in 2018.
Walker holds a bachelor's degree in project management and organizational management. She is also a Certified Compensation Professional.
Ashton joined FirstEnergy in 2008 as an accountant. In 2016, she was promoted to director, FirstEnergy Utilities/FirstEnergy Transmission Long-Term Planning, and she was named to her current position in 2018. Ashton began her career as an auditor at Deloitte & Touche.
Ashton earned a bachelor's degree in business administration with a major in accounting from Kent State University. She is also a Certified Public Accountant.
Lasky began his career with the company in 1986 as an engineer at the W.H. Sammis Plant in Stratton, Ohio. After serving in various engineering positions at Sammis and other generation locations, he was promoted to planning supervisor at the R.E. Burger Plant in Shadyside, Ohio, in 1992 and to Industrial Relations coordinator at the company's corporate offices in 1994. Lasky held several fossil operations and plant management positions before being named director of the Bruce Mansfield Plant in Shippingport, Pa., in 2001. He was promoted to vice president of Fossil Fleet Operations in 2004, named senior vice president, Human Resources in 2015, and senior vice president, Human Resources and chief human resource officer in 2018.
Lasky earned a Bachelor of Science degree in Mechanical Engineering from The University of Akron and is a graduate of the University of Michigan Business School Executive Program, University of Michigan Chief Human Resource Officer program and the MIT Reactor Technology Course for Utility Executives.
Photos of Walker, Lasky and Ashton are available on Flickr.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 21, 2019 /PRNewswire/ -- Through its customer-focused growth initiatives and commitment to corporate responsibility, FirstEnergy Corp. (NYSE: FE) is focused on creating a brighter future for its shareholders, customers, communities and employees, said Charles E. Jones, FirstEnergy president and chief executive officer. Jones addressed shareholders gathered for FirstEnergy's annual meeting.
"I've been with FirstEnergy for more than forty years, and I'm certain 2018 was one of the most pivotal and productive in our company's history," Jones said.
Jones cited FirstEnergy's transition to a fully regulated utility, stronger balance sheet, streamlined support organization and continued investments in customer-focused growth initiatives as key achievements in 2018. He also noted that the Board of Directors approved a new dividend policy late last year and initial dividend increase for the first quarter of 2019 that reflects its confidence in FirstEnergy's long-term, sustainable growth plans.
"This new policy supports an expected increase in shareholder returns as we continue to invest in our strategic initiatives. It's worth noting that our stock ended the year with a total shareholder return of nearly 28 percent, making FirstEnergy the best performer in the Edison Electric Institute Index," Jones said.
Jones noted that the annual meeting theme, "Energy for a Brighter Future," captures the spirit and momentum behind the company's efforts to build a smarter, stronger, more secure electric grid for customers, as well as FirstEnergy's efforts to inform and engage stakeholders on topics ranging from the company's environmental footprint to diversity and inclusion, corporate governance and community support.
"Energy for a Brighter Future is also about meeting our commitment to environmental, social and governance initiatives that support our mission to make customers' lives brighter, the environment better and our communities stronger," he said.
A transcript of Jones' prepared remarks can be found here.
Preliminary Voting Results
FirstEnergy also announced preliminary voting results from its 2019 Annual Meeting. Shareholders reelected each of the 11 nominees to the company's Board of Directors and ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm. On an advisory basis, shareholders also approved named executive officer compensation.
Based on preliminary results, the management proposals to amend the company's governing documents to replace existing supermajority voting requirements with a majority voting power threshold, implement majority voting for uncontested director elections and implement proxy access each received the requisite vote. A non-binding shareholder proposal also relating to simple majority vote received a majority of votes cast; this proposal will be implemented through the passage of the management proposal related to majority voting power threshold.
All preliminary voting results are subject to final certification.
The following directors were elected to one-year terms:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments at the federal and state levels, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of state and federal energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes to federal and state environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
HOLMDEL, N.J., May 16, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) completed a successful emergency readiness exercise on May 15 at its Holmdel office focused on testing the company's restoration process in the event severe weather causes widespread power outages in the area.
The exercise was designed to simulate real time events, prepare employees assigned to storm restoration and introduce process enhancements. More than 75 JCP&L employees from the Operations, Engineering, Safety, Logistics, Communications, External Affairs, Customer Support, Facilities, Corporate Support and Planning and Analysis groups participated in the drill, which was observed by representatives from the New Jersey Board of Public Utilities.
"This training exercise helps to further sharpen our skills and gives us an opportunity to test the new tools we have added to enhance our restoration efforts during actual events," said Alex Patton, JCP&L vice president of Operations. "Along with our ongoing infrastructure enhancements, these exercises are another way we invest in reliability for our customers."
Among the items exercised were new actions incorporated following the March 2018 storms that will help enhance service for JCP&L customers, including:
As part of the training, JCP&L used its Incident Command System (ICS). ICS is a nationally recognized and accepted emergency management process used by all levels of government – federal, state, tribal and local – as well as by many non-governmental organizations and the private sector to coordinate the response to major storms or other natural disasters. JCP&L implemented ICS in 2013.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of from the JCP&L storm drill are available for download on Flickr.
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SOURCE FirstEnergy Corp.
HOLMDEL, N.J., May 10, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) will host a supplier diversity procurement fair on Tuesday, May 14, from 8:00 a.m. until 12:00 p.m. to recruit vendors to support the JCP&L Reliability Plus Infrastructure Investment Program. The free-of-charge event will be held at the company's Holmdel office, located in the Bell Works Building, 101 Crawfords Corner Road, Holmdel.
New Jersey Board of Public Utilities Commissioner Upendra J. Chivukula will deliver opening remarks, followed by JCP&L representatives who will discuss how minority-owned businesses can partner with the company. In addition to providing an overview of the work planned for JCP&L Reliability Plus, representatives will introduce key company personnel, highlight the company's sourcing process for vendors and provide instructions for becoming a certified supplier.
In 2018, JCP&L spent more than $21 million with minority, veteran, service disabled and women-owned businesses based in the state. Nearly 26 percent of JCP&L's total spend in 2018 was with diverse suppliers.
"An additional $97 million in targeted projects are planned across JCP&L's service territory between now and December 2020 to enhance reliability for our customers," said JCP&L President Jim Fakult, who will also speak at the procurement fair. "More than 1,400 work activities are planned for this effort, and we look forward to partnering with many talented, diverse companies throughout the state to complete this important work."
The informational session will be followed by roundtable discussions where suppliers can discuss their capabilities and future opportunities with JCP&L buyers. New Jersey minority advocacy groups also will host information exhibits for procurement fair participants.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 8, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has been recognized by DiversityInc as one of the top six utilities in 2019 for its commitment to workforce diversity and inclusion. The companies being recognized excel in areas such as hiring, retaining and promoting women, minorities, people with disabilities, LGBT and veterans.
To be considered for DiversityInc's annual awards, companies must complete an extensive survey that details the makeup of its workforce, talent programs, senior leadership accountability, workplace practices, philanthropy and supplier diversity efforts. An overall Top 50 list is developed from the survey data, with participating companies also evaluated within the context of their specific industries. Based on survey results, DiversityInc ranked FirstEnergy fifth among utilities for its diversity and inclusion initiatives.
"Diversity and inclusion are core values at FirstEnergy," said Charles E. Jones, president and chief executive officer, FirstEnergy. "Being recognized by DiversityInc acknowledges our efforts to develop a diverse workforce reflective of the communities we serve, as well as providing a work environment in which employees feel valued, motivated and empowered to drive FirstEnergy's business success."
In addition to enhancing its hiring, recruiting and development processes, FirstEnergy has launched a diversity and inclusion council, introduced mentoring programs and expanded training options for employees. FirstEnergy also has created several employee business resource groups focusing on common dimensions of diversity to provide employees and their allies with networking, mentoring, coaching, recruiting, individual development and community outreach opportunities. Metrics are in place to measure and assess the success of these initiatives.
Participation in DiversityInc's survey has increased every year since its inception in 2001, with more than 1,800 companies included in 2018. To view DiversityInc's industry and specialty lists as well as the Top 50 list, visit www.diversityinc.com/top50.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., April 23, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) announced today it has reached a settlement with the staff of the New Jersey Board of Public Utilities (BPU), the NJ Division of Rate Counsel and the New Jersey Large Energy Users Coalition (NJLEUC) for its JCP&L Reliability Plus Infrastructure Investment Program.
JCP&L Reliability Plus builds on service reliability enhancements made by JCP&L in recent years with an additional $97 million in targeted investments aimed at addressing tree damage to the distribution system caused by severe weather events and reducing the frequency and duration of power outages. The work would be completed between June 1, 2019, and December 31, 2020.
The program was created following an analysis of JCP&L's existing distribution system as well as lessons learned from restoration efforts following recent severe weather events. It includes investments beyond what is normally spent to enhance JCP&L's service reliability, including more than 1,400 projects to help enhance the reliability and resiliency of overhead distribution lines, replace existing equipment with new smart technology devices, and expand the vegetation management program to address tree-related outages. Once the projects are complete, JCP&L expects that customers will experience fewer sustained outages under normal conditions as well as a reduction in outage duration.
"We have taken great care to ensure that JCP&L Reliability Plus focuses on the enhancements that have the most reliability benefit for our more than one million New Jersey customers," said Jim Fakult, president of JCP&L. "The enhancements implemented through this program will help reduce the frequency of power outages, address tree damage during severe weather events, provide more flexibility for operating the system and help modernize our electric grid in New Jersey."
The cost of JCP&L Reliability Plus will be recovered under a new rate provision included as part of the distribution charge on a customer's bill. Over the course of the program, the average JCP&L residential customer using 768 kilowatt hours per month is expected to see a 0.5 percent overall rate increase, which equates to a monthly increase of about 50 cents.
Key JCP&L Reliability Plus projects include:
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations, and typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect FirstEnergy, FirstEnergy's liquidity or results of operations, including, without limitation, that conditions to our settlement agreement with respect to the FES Bankruptcy settlement agreement may not be met or that such settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES, FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments at the federal and state levels, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of state and federal energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes to federal and state environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of the retired nuclear facility owned by FirstEnergy subsidiaries; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by the unionized workforce of FirstEnergy subsidiaries; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's SEC filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, together with any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 23, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported first quarter 2019 GAAP earnings of $315 million or $0.59 per basic and diluted share, on revenues of $2.9 billion. In the first quarter of 2018, the company recorded GAAP earnings of $1.2 billion or $2.55 per basic share ($2.54 diluted), on revenues of $2.9 billion. GAAP earnings for the first quarter of 2018 included a gain on the deconsolidation of FirstEnergy Solutions Corp., its subsidiaries, and FirstEnergy Nuclear Operating Company as a result of their bankruptcy filing on March 31, 2018. GAAP earnings for both periods include the impact of special items listed below.
Operating (non-GAAP) earnings* were $0.67 per share in both the first quarter of 2019 and 2018.
"We are pleased with our solid first quarter results, which reflect the continued success of our regulated strategies," said Charles E. Jones, FirstEnergy president and chief executive officer. "We are off to a great start for the year, and we are well positioned to continue meeting our commitments to investors, including our compound annual growth rate of 6 to 8 percent."
In addition to affirming its compound annual growth projection of 6 to 8 percent through 2021**, FirstEnergy is updating its 2019 GAAP earnings forecast range to $2.37 to $2.67 per share, and affirming its operating (non-GAAP) earnings guidance of $2.45 to $2.75 per share. The company is also providing an earnings guidance range of $0.55 to $0.65 per share on both a GAAP and operating earnings basis for the second quarter of 2019.
In FirstEnergy's Regulated Distribution business, first quarter 2019 earnings were flat compared to the same period in 2018. Stronger weather-adjusted residential load and lower net financing costs were offset by higher depreciation.
Heating degree days were 1 percent higher than the same period of 2018, and flat compared to normal weather.
Total distribution deliveries decreased slightly compared to the first quarter of 2018. Residential sales increased 0.7 percent, while deliveries to commercial customers decreased 1.4 percent. Deliveries to industrial customers were essentially flat as lower demand from steel and automotive customers offset continued growth in the shale and chemical sectors.
In the Regulated Transmission business, first quarter earnings increased as a result of a higher rate base from continued investments in the company's Energizing the Future initiative, partially offset by higher operating expenses at the stated-rate transmission companies.
In the Corporate/Other segment, results for the first quarter of 2019 reflect the absence of commodity margin from the Pleasants Power Station and higher net financing costs, partially offset by a lower effective tax rate.
Consolidated GAAP Earnings Per Share to Operating (Non-GAAP) | |||||||
Three Months Ended March 31, | 2019 Estimates | ||||||
2019 | 2018 | Second | Full | ||||
Earnings Per Share (GAAP) | $ 0.59 | $ 2.55 | $0.55 - $0.65 | $2.37 - $2.67 | |||
Excluding Special Items*: | |||||||
Regulatory charges | (0.01) | 0.01 | – | (0.01) | |||
Exit of competitive generation | 0.09 | (1.89) | – | 0.09 | |||
Total Special Items* | 0.08 | (1.88) | – | 0.08 | |||
Operating EPS (non-GAAP) | $0.67 | $0.67 | $0.55 - $0.65 | $2.45 - $2.75 | |||
Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by number of shares outstanding assuming full impact of dilution from the $2.5 billion equity issuance in January 2018. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount if deductible/taxable. The income tax rates range from 21% to 29% in the first quarter of 2019 and 2018. 2019F Earnings (Loss) Per Share and 2019F Operating Earnings (Loss) Per Share - Non-GAAP are based on 540M shares outstanding. |
Non-GAAP Financial Measures:
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented in 2018 by 538 million shares, 539 million shares in the first quarter of 2019 and by 540 million shares for the full year 2019, which reflects the full impact of share dilution from the equity issuance in January 2018. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Investor Materials and Teleconference
FirstEnergy's Strategic and Financial Highlights and Investor Factbook are posted on the company's Investor Information website – www.firstenergycorp.com/ir. Click on the First Quarter 2019 Financial Results link.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the First Quarter 2019 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following (see Glossary of Terms for definitions of capitalized terms): the ability to successfully execute an exit from commodity-based generation, including, without limitation, mitigating exposure for remedial activities associated with formerly owned generation assets; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect us, our liquidity or results of operations, including, without limitation, that conditions to the FES Bankruptcy settlement agreement may not be met or that the FES Bankruptcy settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES or FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments at the federal and state levels, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of state and federal energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes to federal and state environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of our retired and former nuclear facilities; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by our unionized workforce; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., April 22, 2019 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its service area in West Virginia as part of its ongoing efforts to help enhance service reliability.
The work helps keep power flowing to customers around the clock by preventing tree-related outages. Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather such as the numerous storms experienced this past winter.
This year, tree contractors will be trimming, clearing, and controlling the vegetation on more than 5,100 miles of distribution and transmission lines in the Mon Power area as part of the company's approximately $71 million vegetation management program for 2019.
This year marks the fifth year of an enhanced right of way clearing program that focuses on trimming and removing trees near distribution lines in rural areas and along transmission lines to enhance service reliability. The enhanced program involves trimming and removing trees ground to sky, which helps reduce the risk of overhanging limbs getting into electrical equipment and causing outages.
Mon Power's tree program also includes about $2 million to proactively remove more than 7,000 deteriorated ash trees killed or damaged by the Emerald Ash Borer along larger distribution lines and lines located near electric substations.
"Over the past four years, our enhanced vegetation management program has resulted in fewer tree-related outages," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "Also, as a result of the program, our customers are experiencing about a 35 percent reduction in the duration of tree-related outages the year after we perform work in their area."
Mon Power will conduct tree trimming and clearing of rights of way in or near the following counties and communities before the end of the year:
As part of program, vegetation on electric rights of way has been maintained on a five-year cycle in the Mon Power area. Going forward, the rights of way will be maintained on a four-year cycle to further improve reliability for customers. Forestry crews use hand-operated tools, saws, mowers, aerial helicopter saws and EPA-approved herbicide applications to trim trees and control vegetation along Mon Power's distribution and transmission lines. Clearing incompatible vegetation under power lines results in easier access for company personnel to inspect and maintain lines and make repairs sooner if an outage occurs.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
READING, Pa., April 22, 2019 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its service area in Pennsylvania as part of its ongoing efforts to help enhance electric service reliability. This work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather such as February's widespread wind storm. Since the beginning of the year, tree contractors have trimmed along more than 630 miles of distribution and transmission lines in the Met-Ed area as part of the company's more than $23 million vegetation management program for 2019, with an additional 2,500 miles expected to be completed by year end.
In 2018, Met-Ed's comprehensive tree trimming work, coupled with the removal of thousands of deteriorating ash trees impacted by the Emerald Ash Borer, led to 37 percent fewer tree-related service interruptions for customers than in 2017. Met-Ed's tree program in 2019 includes about $2 million to remove more than 8,000 dead and dying ash trees along distribution lines in its service area.
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Aerial Solutions, Asplundh Tree Expert Company, Davey Tree Expert Company, Lewis Tree Service, Nelson Tree Service Inc., Rotor Blade, Treesmiths and York Tree Service Inc.
During the upcoming months, Met-Ed will trim trees in the following locations: Easton, Gettysburg, Hamburg, Hanover, Lebanon, Reading, Stroudsburg, York and surrounding areas, and Bucks County.
The work includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., April 22, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) plans to trim trees along more than 3,300 miles of power lines in 2019 across JCP&L's 13-county northern and central New Jersey service areas. This work helps keep power flowing to customers around the clock by preventing tree-related outages.
Conducted by certified forestry contractors under the company's direction, JCP&L's tree trimming program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining proper clearances around electrical equipment. Trees that present a danger or are diseased may also be removed. Since the beginning of the year, tree contractors have trimmed more than 1,010 circuit miles of electric lines in the JCP&L service area, with an additional 2,320 miles expected to be completed by year end. The company plans to spend nearly $31 million in 2019 on its tree-trimming program.
"Our foresters and certified tree experts work year-round to properly maintain trees and vegetation, helping reduce both the frequency and duration of power outages," said Alex Patton, vice president, Operations, JCP&L. "This work is making a positive difference in keeping the lights on for our customers and more quickly restoring service in the wake of severe weather, which can cause tremendous damage to trees that then damage our equipment."
This year's tree trimming program has a special focus on identifying and proactively removing deteriorated ash trees near JCP&L electric distribution lines that have been affected by the Emerald Ash Borer, an invasive beetle that originated in Asia and was first confirmed in the U.S. in 2002. The infestation has spread to New Jersey and more than 35 states. As of late March, more than 3,440 dead and dying ash trees have been removed, primarily along distribution lines in JCP&L's northern service territory.
JCP&L works with municipalities to inform them of vegetation management schedules. In addition, customers living in areas along company rights-of-way are notified prior to work being performed. To further decrease tree-related outages, JCP&L's foresters also are working to educate residents who live near company equipment about the importance of properly maintaining the trees on their own property.
During April and May, forestry contractors are doing tree work in municipalities in the following counties:
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near JCP&L power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 22, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across its Pennsylvania Power (Penn Power) service area in Pennsylvania. This work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather such as the storms experienced this past winter. In 2019, the company will spend nearly $9 million to trim more than 1,100 miles of electric lines across Penn Power's service area.
"Tree branches interfering with power lines is a leading cause of service disruptions in the Penn Power territory," said Edward L. Shuttleworth, who was recently named regional president of Ohio Edison and Penn Power. "Tree trimming is one of the most important things we do every year to help maintain our electric system and enhance service reliability."
Trimming will take place this year in all or parts of the following communities:
The vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Davey Tree Expert Company, Nelson Tree Service Inc., PennLine Service, Townsend Tree Service and Wright Tree Service.
As part of its notification process, Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to work taking place.
The program includes inspecting trees near the lines to ensure they're pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE:FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., April 22, 2019 /PRNewswire/ -- West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its 24-county Pennsylvania service area as part of its ongoing efforts to help enhance service reliability. This work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can reduce the frequency and duration of power outages, especially those associated with severe weather such as February's widespread wind storm. Since the beginning of the year, tree contractors have trimmed more than 600 circuit miles of electric lines in the West Penn Power service area as part of the $43 million vegetation management program for 2019, with an additional 4,100 miles expected to be completed by year end.
"Our tree trimming is making a positive difference in keeping the lights on for our customers and more quickly restoring service in the wake of severe weather," said John Rea, recently named regional president of West Penn Power. "In 2018, we experienced 16 percent fewer tree-related customer interruptions than in the previous year. We also continue to proactively remove tens of thousands of deteriorated ash trees bordering our electric distribution lines that have been affected by the Emerald Ash Borer."
West Penn Power's tree program in 2019 includes about $6 million to remove more than 34,000 dead and dying ash trees along distribution lines in western Pennsylvania. As of late March, more than 4,000 ash trees had been removed.
During the upcoming months, West Penn Power will be conducting tree trimming work in the following counties and communities:
Tree trimming is done on a five-year cycle. The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
As part of its notification process, West Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by qualified line clearance arborists under the company's direction, including Asplundh Tree Expert Company, Jaflo Inc., Lewis Tree Service Inc., Penn Line Service Inc., Davey Tree Expert Company, and Townsend Tree.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 22, 2019 /PRNewswire/ -- The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming and other vegetation management work in communities across its northeast Ohio service area as part of its ongoing efforts to help enhance electric service reliability. The work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather. The Illuminating Company will spend $16.2 million in 2019 on vegetation management work along about 2,250 miles of power lines across its northeastern Ohio service area in 2019. The work will be conducted in the following communities:
"Tree trimming is one of the most significant parts of our annual work to improve service reliability for our customers," said Mark Jones, who was recently named regional president of The Illuminating Company. "As we saw during heavy winds this spring, trees and tree branches falling into power lines are leading causes of outages, causing widespread damage to our equipment. Trimming trees around our lines reduces the number and length of power outages."
The vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Davey Tree Expert Company, PennLine Services and Townsend Tree Service.
As part of its notification process, The Illuminating Company works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
Tree trimming is done on a four-year cycle. The work includes inspecting vegetation near power lines to ensure trees are pruned to preserve the health of the tree, while also maintaining safe clearances. Trees that present a danger or are diseased may be removed.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., April 22, 2019 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its service area in western Maryland and the Eastern Panhandle of West Virginia as part of its ongoing efforts to help enhance service reliability.
The work helps keep power flowing to customers around the clock by preventing tree-related outages. Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather such as the storms experienced this past winter.
Since the beginning of the year, tree contractors have trimmed more than 575 miles of distribution and transmission lines in the Potomac Edison service area as part of the company's approximately $33.6 million vegetation management program for 2019, with an additional 2,235 miles expected to be completed by year end.
The 2019 budgeted amount includes about $750,000 to complete a special program in the Maryland service area to remove dead and dying ash trees damaged by the Emerald Ash Borer, targeting approximately 3,500 trees.
"The tree trimming we have done over the last several years has helped cut the number of outages from trees and limbs falling into our lines by nearly half, significantly reducing service interruptions for our Potomac Edison customers," said James Sears, President of Maryland Operations for Potomac Edison. "Between 2011 and 2019, our trimming program helped reduce both the number of tree-related outages by about 41 percent and the number of Potomac Edison customers impacted by a tree-related service interruption by 29 percent. We expect our special ash tree removal program will further enhance service reliability for our customers."
The vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Lewis Tree, N.G. Gilbert, Nelson Tree Service, All Reliable Services and Wright Tree Service.
As part of its notification process, Potomac Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
During the upcoming months, Potomac Edison will be conducting tree trimming work in the following counties and communities:
Tree trimming is done on a five-year cycle in Maryland. Beginning in June 2019, trimming in Potomac Edison's West Virginia service area will transition from a five-year cycle to a four-year cycle. Vegetation is inspected, and trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. In some cases, trees that are considered to present a danger or are diseased may be removed.
Potomac Edison serves about 270,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/potomac-edisons-2019-tree-trimming-program-underway-300835930.html
SOURCE FirstEnergy Corp.
READING, Pa., April 22, 2019 /PRNewswire/ -- Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its Pennsylvania service areas as part of its ongoing efforts to help enhance electric service reliability. This work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather such as the storms experienced this past winter. Since the beginning of the year, tree contractors have trimmed about 1,000 miles of distribution and transmission lines in the Penelec area as part of the company's $35.5 million vegetation management program for 2019, with an additional 3,400 miles expected to be completed by year end.
The tree trimming work in 2019 includes about $5 million to continue a special five-year program that was implemented in 2015 to remove dead and dying ash trees affected by the Emerald Ash Borer before they can cause damage to Penelec's electrical system. The company expects to proactively remove approximately 45,000 affected ash trees by the end of the year. Over five years, the ash tree removal program will cover about 18,000 miles of power line rights-of-way in the Penelec service area, with the expected removal of more than 200,000 affected ash trees.
"Penelec is committed to enhancing customer service reliability, and our vegetation management program is one of the most important things we do every year to help maintain our electric system and restore power quickly after storms," said Nick Austin, recently named regional president, Penelec. "Our tree trimming is making a positive difference in keeping the lights on for our customers. In 2018, we experienced 10 percent fewer tree-related customer interruptions than in the previous year."
The vegetation management work is conducted by qualified line clearance arborists, including Asplundh Tree Expert Company, Davey Tree Expert Company, PennLine Service, Hazlett Tree Service, Townsend Tree Service, Lewis Tree Service, and Treesmiths.
As part of its notification process, Penelec works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
During the next several months, Penelec will be conducting tree trimming along transmission and distribution circuits in the following locations:
The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 22, 2019 /PRNewswire/ -- Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming and other vegetation management work in communities across its northwest Ohio service area as part of its ongoing efforts to help enhance electric service reliability. The work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather. Toledo Edison will spend $6.3 million in 2019 on tree trimming across its northwestern Ohio service area in 2019. The work will be conducted in the following communities:
"Tree trimming is one of the most important parts of our annual reliability investment," said Rich Sweeney, who was recently named regional president of Toledo Edison. "This work pays dividends year-round in fewer service disruptions, particularly during severe storms like we've seen already this year in northwestern Ohio."
Tree trimming is done on a four-year cycle. The work includes inspecting vegetation near power lines to ensure trees are pruned to preserve the health of the tree, while also maintaining safe clearances. Trees that present a danger or are diseased may be removed.
As part of its notification process, Toledo Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Arbormetics Solutions; Asplundh Tree Expert Company; Nelson Tree Service Inc.; and PennLine Service.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 22, 2019 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming and other vegetation management work in communities across its 34-county service area in Ohio to help enhance customer reliability. The work helps keep power flowing to customers around the clock by preventing tree-related outages.
Maintaining proper clearances around electrical equipment can help reduce the frequency and duration of power outages, especially those associated with severe weather, such as the lengthy windstorm earlier this year. In 2019, more than 5,300 miles of electric line rights-of-way will be trimmed in the Ohio Edison service area as part of an almost $23 million vegetation management program.
"Tree trimming is among the most important work we do every year to help maintain our electric system," said Edward L. Shuttleworth, who was recently named regional president of Ohio Edison. "This work pays dividends year-round in fewer tree-related service disruptions, particularly during severe storms like the 48-hour windstorm our area experienced in February."
Tree trimming will be conducted in the following counties and communities throughout the year:
The tree trimming is done on a four-year cycle. The program includes inspecting vegetation near the lines to ensure the trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased may be removed.
As part of its notification process, Ohio Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Davey Tree Expert Company, Nelson Tree Service Inc., PennLine Service, Townsend Tree Service and Wright Tree Service.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 19, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced several management changes within its Utility Operations group that support the delivery of safe, reliable, and affordable electric service to customers.
Jon Taylor has been promoted to vice president, Utility Operations, FirstEnergy Utilities. His new responsibilities include overseeing the operations of FirstEnergy's 10 utility operating companies, which serve more than 6 million customers across six states. Taylor replaces Jim Haney, who is retiring after 41 years with the company.
Taylor most recently served as president of Ohio Operations, overseeing the company's Ohio Edison, Illuminating Company and Toledo Edison utilities. He has held a series of senior-level positions since joining FirstEnergy in 2009, including serving as vice president, controller and chief accounting officer.
"As we continue to enhance service reliability for customers by investing in our operations, we strive to align the strengths of our leaders with the current needs of each of our operating companies," said Samuel L. Belcher, senior vice president and president, FirstEnergy Utilities. "Jim Haney's retirement after 40 years of impressive service to FirstEnergy and predecessor companies was the catalyst for this reorganization, which will help ensure that we continue to meet commitments to the customers and the states we serve."
FirstEnergy Ohio Utility Changes
FirstEnergy Pennsylvania Utility Changes
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the new leaders are available on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 18, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) President and CEO Charles E. Jones issued the following statement today regarding the FES bankruptcy:
Standing behind our corporate responsibilities is a core value of FirstEnergy, including through the FES bankruptcy. That is why our comprehensive settlement provided substantial support for FES to both emerge from bankruptcy as an ongoing entity and to meet any legacy and future obligations, including all environmental responsibilities that could occur when the plants are eventually retired.
Following the judge's recent decision involving FES' bankruptcy, FES committed to engage with the Department of Justice and other concerned parties. In light of this commitment, we agreed to remove the broad third-party releases from the comprehensive settlement. While the non-consensual releases served to bring finality to FirstEnergy's involvement with these legacy assets, this change does not, in our assessment and experience, increase liabilities or obligations to our company.
We are pleased that FES has submitted a revised Disclosure Statement and believe they will continue to work constructively with all parties to ensure both timely approval of their plan and bankruptcy exit. FirstEnergy will remain focused on delivering clean, safe, reliable and affordable electricity to our six million customers, with a commitment to environmental stewardship and corporate responsibility.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-looking statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations, and typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect FirstEnergy, FirstEnergy's liquidity or results of operations, including, without limitation, that conditions to our settlement agreement with respect to the FES Bankruptcy settlement agreement may not be met or that such settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES, FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments at the federal and state levels, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of state and federal energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes to federal and state environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of the retired nuclear facility owned by FirstEnergy subsidiaries; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by the unionized workforce of FirstEnergy subsidiaries; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's SEC filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, together with any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 16, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the first quarter of 2019 after markets close on Tuesday, April 23. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Wednesday, April 24. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its first quarter presentation and supporting materials to the investor section of the website after markets close on April 23.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 20, 2019 /PRNewswire/ -- FirstEnergy Home, a subsidiary of FirstEnergy Corp. (NYSE: FE), now offers a service program through HomeServe USA designed to help residential customers in central New Jersey save money on urgent household repairs.
HomeServe USA, a leading third-party provider of home emergency repair service programs, was selected by FirstEnergy Home to provide this optional protection to residential customers to cover things not typically covered by basic homeowner's insurance, including interior/exterior electrical wiring, heating and cooling systems, water heaters and water/sewer/septic service lines.
The service plans available through HomeServe are priced starting between $5.49 and $21.99 per month depending on coverage selected. Customers who choose to enroll will be able to pay for the coverage with convenient payment options directly with HomeServe. The program is completely optional and the coverage can be canceled at any time.
Depending on the product selected, the benefits include:
Enrollment information will be mailed to eligible homeowners beginning next week. For more information go to www.homeserveusa.com or call HomeServe toll-free at 833.492.3887.
Based in Akron, Ohio, FirstEnergy Home is authorized in the state of New Jersey to engage in the business of product development, marketing, sales, commercialization and distribution of home products and services.
About HomeServe USA
HomeServe USA Corp. (HomeServe) is a leading provider of home repair solutions serving 3.7 million customers across the US and Canada under the HomeServe, Home Emergency Insurance Solutions, Service Line Warranties of America (SLWA) and Service Line Warranties of Canada (SLWC) names. Since 2003, HomeServe has been protecting homeowners against the expense and inconvenience of water, sewer, electrical, HVAC and other home repair emergencies by providing affordable repair coverage, installations and quality local service. As an A+ rated Better Business Bureau Accredited Business, HomeServe is dedicated to being a customer-focused company supplying best-in-class repair plans and other services to consumers directly and through over 600 leading municipal, utility and association partners. HomeServe is a proud sponsor of This Old House on PBS, working together to provide homeowners expert advice on maintaining, enhancing and protecting their homes. For more information about HomeServe, a Connecticut Top Workplace winner and recipient of thirty-three 2019 Stevie Awards for Sales & Customer Service, or to learn more about HomeServe's affordable repair plans, please go to www.homeserveusa.com. To connect with HomeServe on Facebook and Twitter, please visit www.facebook.com/homeserveusa and www.twitter.com/homeserveusa.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 19, 2019 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 38 cents per share of outstanding common stock. The dividend will be payable June 1, 2019, to shareholders of record at the close of business on May 7, 2019.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations, and typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect FirstEnergy, FirstEnergy's liquidity or results of operations, including, without limitation, that conditions to our settlement agreement with respect to the FES Bankruptcy settlement agreement may not be met or that such settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES, FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments at the federal and state levels, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of state and federal energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes to federal and state environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of the retired nuclear facility owned by FirstEnergy subsidiaries; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by the unionized workforce of FirstEnergy subsidiaries; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's SEC filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, together with any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 11, 2019 /PRNewswire/ -- As part of its ongoing efforts to protect nesting birds, the Pennsylvania Power Company (Penn Power) has proactively installed new fiberglass crossarms on nearly two dozen utility poles along the Route 18 causeway over the Shenango River Lake in Mercer County. The work will help prevent electrical service disruptions by discouraging ospreys from nesting on utility poles.
Crossarms are mounted on the top of a utility pole to hold up power lines or other equipment. Penn Power line workers replaced 21 wooden, double crossarms with a new, single fiberglass crossarm. Unlike a double crossarm, the single crossarm design does not entice an osprey because it is not large or stable enough to hold the nest, which can measure up to three feet in width.
"Ospreys typically arrive in Pennsylvania in late March and return to the same nesting sites from the year before," said Amy Ruszala, an environmental scientist and avian expert at Penn Power's parent company, FirstEnergy Corp. (NYSE: FE). "It was important to not only remove unoccupied osprey nests that were situated on our utility poles, but also take action to prevent the birds from making new nests on our equipment this spring."
The Penn Power service area has experienced a spike in the osprey population over the past five years, but the company's previous attempts to deter them from nesting on utility poles along the causeway have been unsuccessful.
Ospreys prefer to nest near large bodies of water in a large, bulky pile of sticks, put together on the top of a tall tree, a rocky ledge or utility pole crossarms. A nesting platform was installed by Penn Power near the lake to discourage them from nesting on utility poles, but the birds were not receptive to the structure.
"These nesting habits often place the birds near electrical equipment, which jeopardizes their well-being and can potentially cause power outages," said Ruszala, who worked closely with Penn Power utility personnel and engineers last fall to identify pole nesting sites that would benefit from a single crossarm design.
Electricity to the distribution line that spans the Route 18 causeway had been rerouted to another line since June to protect the nesting birds and prevent hazardous situations like pole fires. With the new fiberglass crossarms providing a more permanent solution to the osprey nesting issue, the line has been reenergized and customers in the area are benefiting from a more reliable, resilient system.
While the birds were south for the winter, utility personnel also worked closely with FirstEnergy's environmentalists and state wildlife officials to remove nests from substations and transmission towers. Ospreys are a month away from their peak breeding season and will lay their eggs between April and July.
Penn Power is a subsidiary of FirstEnergy and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Penn Power's new upgrades to protect nesting birds are available for download on Flickr.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., March 5, 2019 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), will begin installing Electric Vehicle (EV) charging stations in Maryland later this year and offer rebates for both residential and non-residential charger installations as part of a pilot program recently approved by the Maryland Public Service Commission to benefit the state's environment by reducing auto emissions.
Over the course of the five-year pilot program, Potomac Edison will install more than 50 charging stations, including nine "fast charging" stations at various locations throughout its Maryland service territory. In addition, residential customers of Potomac Edison in Maryland will be eligible for rebates of up to $300 for the installation of EV charging stations at their home. Rebates also will be available for charging stations at multifamily properties.
"We're excited about the opportunity to support Maryland's efforts toward electric vehicle adoption and expanding the charging station network, which is an important step toward a cleaner, healthier environment," said James Sears, President of Maryland Operations for Potomac Edison. "Our expertise at building electrical infrastructure will help position Maryland as a leader in EV technology. We look forward to partnering with state officials to ensure our EV charging station program produces long-term benefits as we continue providing safe, reliable and affordable service to our customers."
The charging station pilot program was approved by the Maryland Public Service Commission in January and includes additional EV charging station installations from other Maryland utilities to support a state-wide effort toward reaching 300,000 zero-emission vehicles on the road by 2025. The pilot is intended to help Maryland utilities evaluate the benefits of EV charging deployment while remaining cost-effective for customers.
Electric vehicles offer a clean, efficient alternative to gasoline-powered vehicles, averaging as low as one-third the cost-per-mile of gasoline. Depending on the battery capacity, EV driving range can vary from about 80 miles up to 280 miles. The installation of public charging stations through the pilot program will help reduce "range anxiety" for EV owners, as well as provide key data to help determine future implementation efforts throughout Maryland and other areas served by FirstEnergy's utilities. Potomac Edison will file an EV charging station pilot program implementation plan with the Maryland Commission in the coming months.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 270,000 customers in seven Maryland counties. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 27, 2019 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) utilities continue work to complete service restoration for customers who lost power after recent heavy, sustained winds across the company's service areas in six states.
All 10 of the company's utilities were impacted by this wind storm. More than 1 million customers lost service across our system, and about 13,000 customers remain without service.
Many of the remaining repairs will restore only a few customers at a time, which will delay complete storm restoration. Due to the widespread damage caused by this wind storm, we have thousands of remaining outages that require hours of crew work to restore one customer at a time.
Utility Summaries
The Illuminating Company: Almost 139,000 customers lost service, with 620 remaining to be restored. The majority of remaining customers are expected to be restored this afternoon. More than 800 workers are in the field making repairs, clearing tree damage and making sure public safety hazards are addressed.
Ohio Edison: More than 197,000 customers were left without service after the wind storm, and all but 670 have been restored to service. Complete restoration should be achieved by 4 p.m. Thursday. Hundreds of workers remain in the field, repairing damage and addressing safety concerns.
Penn Power: More than 33,000 customers were impacted by this storm, and 330 remain without service. Work is expected to be completed for remaining customers by Thursday.
West Penn Power: More than 161,000 customers lost service during this storm, and about 6,000 remain without service. More than 1,100 workers are on the ground making repairs and clearing hazards. The majority of remaining customers impacted by the wind storm will be restored by late Thursday.
Mon Power: More than 98,000 customers were impacted by the storm, and about 1,800 remain out of service. Hundreds of workers are continuing to make repairs. The majority of customers who remain out of service will be restored by midnight tonight.
Potomac Edison: About 62,000 customers were impacted by the storm, and 3,000 remain without service. More than 600 workers are on the ground working to complete the restoration efforts by midnight tonight in Maryland and midnight Thursday in West Virginia.
Jersey Central Power & Light: More than 133,000 customers were impacted by the storm and less than 600 remain without service, with most outages concentrated in the hardest hit area of Hunterdon County. More than 1,000 workers continue repairs and restoration work. Most customers who remain without power will have service restored by midnight tonight.
More Information
For updated information on power outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
Connect with FirstEnergy companies online at www.firstenergycorp.com, on Twitter at @OhioEdison, @IlluminatingCo, @ToledoEdison, @Penn_Power, @W_Penn_Power, @MonPowerWV, @Penelec, or @PotomacEdison, or on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.facebook.com/PenelecElectric, www.facebook.com/PotomacEdison, www.facebook.com/MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 26, 2019 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) utilities continue work to complete service restoration for customers who lost power after recent heavy, sustained winds across the company's service areas in six states.
All 10 of the company's utilities were impacted by this wind storm. Almost 940,000 customers lost service system-wide, and about 50,000 remain without service.
Our restoration process begins with work that can quickly restore the greatest numbers of customers to service. Large outages are generally restored sooner than single outages. As we work through the storm, larger percentages of our remaining outages will take more crew time to restore fewer customers. Due to the widespread damage caused by this wind storm, we have thousands of remaining outages that will require many hours of crew work to restore single customers.
Utility Summaries
The Illuminating Company: More than 126,000 customers lost service, and all but 6,000 have been restored. Majority of remaining customers are expected to be restored by 1 p.m. Wednesday. Nearly 800 workers are in the field making repairs, clearing tree damage, assessing damage and making sure public safety hazards are addressed.
Ohio Edison: More than 165,000 customers were left without service after the wind storm, and all but 3,500 have been restored to service. Complete restoration should be achieved by 4 p.m. Thursday. More than 700 workers are in the field repairing damage and addressing safety concerns and tree clearing.
Penn Power: More than 30,000 customers were impacted by this storm, and all but 1,300 have been restored. Work is expected to be completed for remaining customers by Thursday.
West Penn Power: More than 144,000 customers lost service during this storm, and less than 18,000 remain without service. More than 1,000 workers are on the ground making repairs and clearing hazards. Some West Penn Power areas were hit particularly hard, and some customers may be without service into Saturday.
Penelec: More than 118,000 customers lost service during the storm, and all but 1,800 have been restored. More than 750 workers are on the ground in the service area, making repairs and clearing tree debris. The majority of customers will be restored by midnight tonight.
Met-Ed: More than 42,000 customers were left without service after the storm, with all but 900 restored. More than 600 workers are in the field making repairs today, and most customers will be restored by midnight tonight.
Mon Power: About 96,000 customers were impacted by the storm, and almost 7,100 remain out of service. Nearly 800 workers are in the field making repairs and restoring service, and complete restoration is expected by 11 p.m. tomorrow.
Potomac Edison: More than 60,000 customers were impacted by storm, and 8,200 remain without service. About 750 workers are on the ground working to complete the restoration efforts by midnight Thursday in Maryland and midnight Friday in West Virginia.
Jersey Central Power & Light: More than 134,000 customers were impacted by the storm and about 4,500 remain without service. About 1,300 workers continue repairs and restoration work. Most customers who remain without power will have service restored by midnight tonight. Customers in the hardest hit areas of Monmouth, Hunterdon and parts of Warren counties will have power restored by midnight Wednesday.
More Information
For updated information on power outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
Connect with FirstEnergy companies online at www.firstenergycorp.com, on Twitter at @OhioEdison, @IlluminatingCo, @ToledoEdison, @Penn_Power, @W_Penn_Power, @MonPowerWV, @Penelec, or @PotomacEdison, or on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.facebook.com/PenelecElectric, www.facebook.com/PotomacEdison, www.facebook.com/MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 25, 2019 /PRNewswire/ -- Service has been restored to more than 658,900 FirstEnergy Corp. (NYSE: FE) customers who lost power due to a powerful wind storm that continues to sweep through the Mid-Atlantic region.
Sustained winds of nearly 40 mph, coupled with gusts exceeding 60 mph, began battering Ohio, West Virginia, Maryland and western Pennsylvania early yesterday morning. Eastern parts of Pennsylvania and New Jersey are receiving the brunt of the winds today.
Since the storm began, repairs have been made at hundreds of locations, and crews are working around the clock to assess damage and restore service to approximately 202,700 customers who remain without power in Ohio, Pennsylvania, West Virginia, Maryland and New Jersey. Approximately 1,300 additional contractor line workers as well as hazard responders are being deployed to assist Ohio Edison, Penn Power, The Illuminating Company, West Penn Power, Potomac Edison, Mon Power and Jersey Central Power & Light (JCP&L) personnel with restoration efforts. The company is also requesting additional line workers through its memberships in utility mutual assistance organizations.
"As the wind storm crossed our service territory, we've seen thousands of instances of downed wires, broken poles and crossarms, and damaged transformers caused by trees and other debris contacting our electrical equipment," said Samuel L. Belcher, senior vice president and president of FirstEnergy Utilities. "Though repair work can be slowed by the continued high winds and numerous road closures, we will continue to work around the clock to safely make repairs and deploy resources as needed until power to all customers has been restored."
A video playlist of utility personnel discussing the impact of wind storms on equipment and restoration efforts is available on YouTube.
Current company updates as of 1:30 p.m. today include:
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be taken in areas where downed wires may be tangled in downed tree branches or other debris.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive billing reminders, weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 22, 2019 /PRNewswire/ -- FirstEnergy Corp's (NYSE: FE) 10 utility companies are prepared for a potentially significant weather event that could bring sustained high winds with powerful gusts to its entire six-state service territory this weekend.
The weather will arrive in the companies' westernmost service areas early Saturday and move through Ohio, Pennsylvania, West Virginia, Maryland and New Jersey through the weekend into Monday. In addition to winds exceeding 40 mph, thunderstorms and areas of accumulating snow are possible with the passage of the cold front.
"We are prepared for a potentially challenging weather weekend for us, system-wide," said Sam Belcher, president of FirstEnergy Utilities. "In much of our six-state service area, the already wet ground could be saturated with heavy rains Saturday followed by high winds Sunday into Monday, a combination that can cause trees to be uprooted. Also, the heavy winds have the potential to make it unsafe for our workers to use bucket trucks or ladders to do overhead repair work, which could delay power restoration efforts."
Company and contractor crews have been notified of the possibility for severe weather, and calls with mutual assistance organizations have been made. Additional line and forestry resources will be secured over the weekend as needed to respond to the storm.
Customers who may be left without power after the storm are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com.
In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Residents should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used to avoid and to keep pets away from areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
Some tips to prepare for possible outages from severe weather:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online www.firstenergycorp.com. Follow FirstEnergy's utilities on Twitter at @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 19, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported full-year 2018 GAAP earnings of $981 million, or $1.99 per basic and diluted share of common stock on revenue of $11.3 billion. In 2017 the company reported GAAP losses of $(1.7) billion, or $(3.88) per basic and diluted share of common stock on revenues of $10.9 billion. Results for both periods include special items, listed below.
Operating (non-GAAP) earnings* for 2018 were $2.59 per share, which is at the upper end of the company's guidance range, compared to $2.17 per share for 2017.
"We are beginning 2019 with tremendous momentum, following perhaps the most pivotal year in FirstEnergy's history," said Charles E. Jones, FirstEnergy president and chief executive officer. "In 2018 we executed on our strategy to become a premier, high-performance, fully regulated utility with a long-term, sustainable growth plan and investment grade credit ratings. Today, we are well positioned to build a brighter future for our shareholders, customers and employees as we continue to invest in our customer-focused growth initiatives."
FirstEnergy affirmed its 2019 earnings guidance of $2.45 to $2.75 per fully diluted share, and compound annual growth rate projection of 6 to 8 percent for its transmission and distribution operations through 2021**. The compound annual growth rate excludes the requested two-year extension of the Ohio Distribution Modernization Rider. The company also introduced first quarter 2019 earnings guidance of $0.60 to $0.70 per share.
Fourth Quarter Results
For the fourth quarter of 2018, FirstEnergy reported GAAP earnings of $128 million, or $0.25 per basic and diluted share of common stock, on revenue of $2.7 billion. In the fourth quarter of 2017, the company reported a GAAP loss of $(2.5) billion or $(5.62) per basic and diluted share of common stock, on revenue of $2.7 billion. Results for both periods include the special items shown below.
Operating (non-GAAP) earnings* for the fourth quarter of 2018 were $0.50 per share. In the fourth quarter of 2017, operating (non-GAAP) earnings were $0.58 per share.
In FirstEnergy's Regulated Distribution business, higher fourth quarter 2018 distribution deliveries, commodity margin and lower net financing costs were offset by higher operating and depreciation expenses.
Total distribution deliveries increased 1.2 percent compared to the fourth quarter of 2017 due to higher weather-related and industrial usage. Residential sales increased 0.5 percent, reflecting a 7 percent increase in heating degree days compared to the fourth quarter of 2017, and commercial deliveries increased 1.7 percent. Sales to industrial customers increased 1.4 percent, primarily due to higher usage in the shale gas and steel sectors. This marked the tenth consecutive quarterly increase in the company's distribution deliveries to industrial customers.
In the Regulated Transmission business, fourth quarter 2018 results reflect a higher rate base associated with the company's Energizing the Future transmission program, offset by higher operating expense.
In the Corporate/Other segment, lower operating expenses in the fourth quarter of 2018 was more than offset by higher income taxes and the estimated non-deductible portion of interest expense due to the Tax Cuts & Jobs Act that became effective in 2018.
Full Year 2018 Segment Results
For the full year of 2018, earnings increased in the Regulated Distribution business as a result of higher distribution deliveries and regulated commodity margin related primarily to weather and industrial usage, lower operating expense and the impact of rates that went into effect in Ohio and Pennsylvania. These factors were slightly offset by higher depreciation expense and general taxes.
In the Regulated Transmission business, full-year 2018 results benefited from higher transmission margin related to the company's Energizing the Future initiative.
In the Corporate/Other segment, lower operating expense in 2018 was offset by income taxes, the non-deductible portion of interest expense, and higher financing costs.
Consolidated GAAP Earnings Per Share (EPS) to Operating (Non-GAAP) EPS* Reconciliation | ||||||||||
Fourth Quarter | Full Year | |||||||||
2018 | 2017 | 2018 | 2017 | |||||||
Basic EPS (GAAP) | $0.25 | $(5.62) | $1.99 | $(3.88) | ||||||
Excluding Special Items*: | ||||||||||
Impact of full dilution to 538M shares | — | 0.97 | 0.52 | 0.68 | ||||||
Mark-to-market adjustments – | ||||||||||
Pension/OPEB actuarial assumptions | 0.19 | 0.11 | 0.19 | 0.11 | ||||||
Regulatory charges | 0.01 | 0.04 | (0.20) | 0.08 | ||||||
Debt redemption costs | 0.01 | — | 0.22 | 0.01 | ||||||
Tax reform | 0.02 | 0.25 | 0.04 | 0.25 | ||||||
Exit of competitive generation | 0.02 | 4.83 | (0.17) | 4.92 | ||||||
Total Special Items* | 0.25 | 6.20 | 0.60 | 6.05 | ||||||
Operating EPS (Non-GAAP) | $0.50 | $0.58 | $2.59 | $2.17 | ||||||
|
Non-GAAP financial measures
* Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Operating earnings (loss) per share by segment to further evaluate the company's performance by segment and references this non-GAAP financial measure in its decision making. Operating earnings (loss) per share and operating earnings (loss) per share for each segment is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented in 2018 by 538 million shares and 540 million shares in 2019, which reflects the full impact of share dilution from the equity issuance in January 2018. As of the first quarter 2018, Regulated operating (non-GAAP) earnings (loss), Regulated operating earnings (loss) per share, and Regulated operating earnings (loss) per share by segment, which were non-GAAP financial measures used in the guidance provided in February 2018, are now referred to as Operating earnings (loss), Operating earnings (loss) per share, and Operating earnings (loss) per share by segment, respectively. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share and Operating earnings (loss) per share by segment provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities. Pursuant to the requirements of Regulation G, FirstEnergy (FE) has provided, where possible without unreasonable effort, quantitative reconciliations within this presentation of the non-GAAP financial measures to the most directly comparable GAAP financial measures.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Deconsolidation
FirstEnergy Solutions Corp. (FES), FirstEnergy Nuclear Operating Company, Bayshore Power Company and a portion of Allegheny Energy Supply Company, LLC (including the Pleasants Power Station), representing substantially all of FirstEnergy's operations that previously comprised the Competitive Energy Services reportable operating segment, are presented as discontinued operations in FirstEnergy's consolidated financial statements resulting from the FES Bankruptcy and actions taken as part of the strategic review to exit commodity-exposed generation. The Pleasants Power Station was reclassified to discontinued operations following its inclusion in the definitive FES Bankruptcy settlement agreement for the benefit of FES' creditors. Prior period results have been reclassified to conform with such presentation as discontinued operations.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the fourth quarter and full year, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on Fourth Quarter 2018 Consolidated Report to the Financial Community.
The company invites investors, customers and other interested parties to listen to a live webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EST tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Fourth Quarter 2018 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available. Unless the context requires otherwise, as used herein, references to "we," "us," "our," and "FirstEnergy" refer to FirstEnergy Corp. Forward-looking statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations, and typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit from commodity-based generation; the risks associated with the Chapter 11 bankruptcy proceedings involving FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC) (FES Bankruptcy) that could adversely affect FirstEnergy, FirstEnergy's liquidity or results of operations, including, without limitation, that conditions to our settlement agreement with respect to the FES Bankruptcy settlement agreement may not be met or that such settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against us by FES, FENOC or their creditors; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate and grow as a fully regulated business, to execute our transmission and distribution investment plans, to continue to reduce costs through FE Tomorrow, which is the FirstEnergy initiative launched in late 2016 to identify our optimal organization structure and properly align corporate costs and systems to efficiently support FirstEnergy as a fully regulated company going forward, and other initiatives, and to improve our credit metrics, strengthen our balance sheet and grow earnings; legislative and regulatory developments at the federal and state levels, including, but not limited to, matters related to rates, compliance and enforcement activity; economic and weather conditions affecting future operating results, such as significant weather events and other natural disasters, and associated regulatory events or actions; changes in assumptions regarding economic conditions within our territories, the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; changes in customers' demand for power, including, but not limited to, the impact of state and federal energy efficiency and peak demand reduction mandates; changes in national and regional economic conditions affecting us and/or our major industrial and commercial customers or others with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our operations, and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes to federal and state environmental laws and regulations, including, but not limited to, those related to climate change; changing market conditions affecting the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, or causing us to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the risks associated with the decommissioning of the retired nuclear facility owned by FirstEnergy subsidiaries; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; labor disruptions by the unionized workforce of FirstEnergy subsidiaries; changes to significant accounting policies; any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us; actions that may be taken by credit rating agencies that could negatively affect either our access to or terms of financing or our financial condition and liquidity; and the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission (SEC) filings. Dividends declared from time to time on FirstEnergy's common stock, and thereby on FirstEnergy's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's SEC filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, together with any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 12, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the fourth quarter and full year of 2018 after markets close on Tuesday, February 19. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EST on Wednesday, February 20. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its fourth quarter Consolidated Report to the Financial Community and other supporting materials to the investor section of the website after markets close on February 19.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 29, 2019 /PRNewswire/ -- As frigid weather impacts the region, FirstEnergy Corp. (NYSE: FE) utilities remind customers of steps they can take to stay safe and better manage energy bills that may climb as a result of the cold weather. Based on current forecasts, all of FirstEnergy's six-state footprint will be affected by the cold snap, with sub-zero temperatures and snow likely to arrive later today.
Company line workers also will be ready to assist should the arctic conditions cause any customers to lose power. A video playlist of utility personnel discussing winter power restoration activities is available on YouTube.
"Our electric system is designed and maintained to operate safely and effectively on extremely cold days that create high demand for electricity," said Samuel Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "In addition, our line crews are trained to safely make repairs in all weather conditions in the event a power outage occurs."
Customers should review important winter safety information and prepare in case weather-related outages do occur. Frigid temperatures also can increase energy bills for those who use electric heat sources, such as space heaters, heat pumps and electric furnaces.
Safety Tips:
Energy-Saving Tips:
Employee Safety Procedures:
FirstEnergy utilities are reviewing staffing levels and cold weather operational procedures to ensure any potential localized power outages caused by the excessive cold are handled promptly.
Company employees, including line workers, substation electricians and meter readers, also are receiving briefings about what steps they can take to stay safe on the job when the temperatures drop below freezing. Company personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage, such as taking more frequent, short breaks to stay warm and change into dry clothing.
Customer Communications Options:
If winter weather does cause an outage, customers who are without power should call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com.
Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and Follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 21, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has been included in the 2019 Bloomberg Gender-Equality Index (GEI) in recognition of its commitment to women's equality in the workplace.
The GEI uses a standardized reporting framework to evaluate gender equality initiatives based on company statistics, employee policies, external community support and engagement, and gender-conscious product offerings. Companies scoring above a globally established threshold are included in the GEI. The index doubled in size from 2018 to include 230 companies across 10 industry sectors.
FirstEnergy intends to use the tool to track its progress in the area of gender diversity, which is a key component of its broader Diversity & Inclusion and Environmental, Social and Governance (ESG) initiatives.
"FirstEnergy's inclusion on the Bloomberg GEI will help differentiate us among job-seekers and investors who wish to affiliate with forward-thinking companies," said Christine L. Walker, FirstEnergy's vice president of Human Resources. "Our participation in the Index demonstrates our strong commitment to equality and diversity in the workforce, which improves the lives of customers and strengthens the communities we serve."
"We applaud FirstEnergy and the other 229 firms tracked by the index for their action to measure gender equality through the Bloomberg GEI framework," said Peter T. Grauer, Chairman of Bloomberg and Founding Chairman of the U.S. 30% Club. "FirstEnergy's GEI inclusion is a strong indicator to its employees, investors and industry peers alike that it is leading by example to advance ongoing efforts for a truly inclusive workplace."
Companies included in the Bloomberg GEI span a variety of sectors, including communications, consumer staples, financials, materials, technology and electric utilities. More information about the index is available on Bloomberg's website: https://www.bloomberg.com/professional/solution/gender-equality-index/.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 18, 2019 /PRNewswire/ -- As part of the preparation efforts in advance of Winter Storm Harper, FirstEnergy Corp. (NYSE: FE) utilities have secured more than 2,300 additional resources, including 1,300 electrical contractors, to assist in the company areas expected to be impacted the most this weekend.
Beginning Saturday and into Sunday, the severe weather is expected to produce heavy snow, freezing rain, ice and high winds along a line that runs from central Ohio across Pennsylvania and into northern New Jersey.
Jersey Central Power & Light additional resources include:
Metropolitan Edison (Met-Ed) additional resources include:
Pennsylvania Electric Company (Penelec) additional resources include:
West Penn Power additional resources include:
Ohio Edison additional resources include:
All of FirstEnergy's electric utilities have implemented storm response plans and employees are prepared to work 16-hour shifts around the clock until all power outages caused by Winter Storm Harper have been restored. In addition, the company has been in contact with electrical contractors and electric industry mutual assistance organizations about the possibility of securing additional resources to assist with storm restoration efforts should they be needed.
"We have proactively brought in additional electrical contractors to assist our own utility personnel should Winter Storm Harper cause wide spread power outages in the areas we serve," said Sam Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "In addition, staging sites are being finalized in several areas to ensure the additional personnel is able begin the restoration process in a safe and effective manner."
FirstEnergy utilities include Jersey Central Power & Light in New Jersey: Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Mon Power in West Virginia; and Potomac Edison in Maryland and West Virginia.
Customers who are without power are encouraged to call 1-888-LIGHTSS
(1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers are encouraged to prepare for the possibility of outages caused by severe winter weather:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and Follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 17, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utility personnel are prepared to respond to outages caused by heavy snow, freezing rain and ice, and high winds forecast for the eastern U.S. this weekend.
Company meteorologists are monitoring Winter Storm Harper, a complex storm system that will affect FirstEnergy's service areas in Ohio, Pennsylvania, West Virginia, Maryland and New Jersey. While some snow is forecast for later today, Harper's severe weather is expected to hit the region on Saturday and Sunday. Some FirstEnergy areas could see more than 24 inches of snow, while others could experience freezing rain and significant ice accumulations along with high winds. In addition, heavy rains could cause flooding in parts of West Virginia and Maryland.
All of FirstEnergy's electric utilities are implementing storm response plans, which include making arrangements to bring in additional line, substation and forestry personnel, and additional dispatchers and analysts at regional dispatch offices, as required, based on the severity of the weather. In addition, the company has been in contact with electrical contractors and electric industry mutual assistance organizations about the possibility of securing additional resources to assist with storm restoration efforts.
"We are monitoring the weather conditions closely and will deploy resources to the areas that could get hit the hardest," said Sam Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "The goal of our planning efforts is to safely speed the outage restoration process and minimize any inconvenience our customers experience due to the weather."
FirstEnergy utilities include: Jersey Central Power & Light in New Jersey; Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Mon Power in West Virginia; and Potomac Edison in Maryland and West Virginia.
Customers who are without power are encouraged to call 1-888-LIGHTSS
(1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers are encouraged to prepare for the possibility of outages caused by severe winter weather:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and Follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
READING, Pa., Jan. 14, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced that a Request for Proposal (RFP) will be issued to purchase 120,500 Solar Photovoltaic Alternative Energy Credits (SPAECs) annually over a two-year period on behalf of three FirstEnergy Pennsylvania utilities – Pennsylvania Power Company (Penn Power), Pennsylvania Electric Company (Penelec), and Metropolitan Edison Company (Met-Ed).
The RFP process will be conducted by The Brattle Group and will take place in January and February, with qualifying applications due by February 5, 2019, and bids due by February 27, 2019. Bidders in this RFP can offer to sell tranches of SPAECs, where each tranche represents a commitment to sell 500 SPAECs annually over a two-year period (with deliveries beginning in 2019). Based on the RFP results, FirstEnergy's Pennsylvania utilities will enter into separate agreement(s) with winning suppliers to purchase the necessary quantities of SPAECs.
Further information about the SPAEC RFP is available on FirstEnergy's website at www.firstenergycorp.com/PA2019SPAECRFP.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 10, 2019 /PRNewswire/ -- For the 13th consecutive year, FirstEnergy Corp. (NYSE: FE) has earned recognition for its emergency response efforts from the Edison Electric Institute (EEI), a leading electric industry organization. The company earned the "Emergency Recovery Award" for efforts to restore service to nearly 470,000 of its Pennsylvania and New Jersey customers following severe thunderstorms that impacted the region in May 2018.
The storms brought nearly 36 hours of sustained high winds with gusts exceeding 60 mph to FirstEnergy's service territory along with damaging tornadoes and 100 mph straight-line winds. Nearly 6,000 lineworkers, hazard responders, damage assessors and other support staff from FirstEnergy and assisting utilities worked together to replace more than 400 utility poles, 300 transformers, four transmission towers and approximately 23 miles of wire.
"The dedication of FirstEnergy's crews to restoring service throughout Pennsylvania and New Jersey after a series of thunderstorms illustrates our industry's commitment to customers," said EEI President Tom Kuhn. "FirstEnergy's crews worked tirelessly in hazardous conditions to quickly and safely restore power. They are truly deserving of this award."
"The EEI award is a special honor for the men and women who work around the clock in trying conditions to restore power when severe weather impacts our customers," said Sam Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "I'm very proud of our crews, who teamed to complete repairs safely and efficiently despite extra challenges created by the widespread and rural nature of the areas damaged by these storms."
EEI presents awards twice annually to member companies to recognize extraordinary efforts to restore power or for assisting other electric companies after service disruptions caused by weather conditions and other natural events. Winners are chosen by a panel of judges following an international nomination process. The awards were presented January 10, 2019, during the winter EEI Board of Directors and CEO meeting in Florida.
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than 65 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
Editor's Note: A photo of FirstEnergy Senior Vice President and President of FirstEnergy Utilities Sam Belcher accepting the emergency response award from EEI is available for download on Flickr.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Jan. 4, 2019 /PRNewswire/ -- The FirstEnergy Foundation has donated $25,000 to support Fill a Glass with Hope®, the first statewide charitable fresh milk program in the nation. The grant was presented today in Harrisburg by Linda Moss, president of Pennsylvania Operations for FirstEnergy.
Since it began in 2015, Fill a Glass with Hope has helped Pennsylvania's food banks provide more than 10 million servings of milk to needy families across the state. The program is a partnership between Feeding Pennsylvania, the American Dairy Association Northeast and the Pennsylvania Dairymen's Association. This is the third year The FirstEnergy Foundation has sponsored the program.
"Milk is one of the most requested items at Pennsylvania food banks, but people tend to focus on non-perishable donations instead," said Linda Moss, president of Pennsylvania Operations for FirstEnergy. "We're pleased to again support this unique effort that helps get fresh milk into the hands of Pennsylvania families through the state."
Feeding Pennsylvania promotes and aids its member food banks in securing food and other resources to reduce hunger and food insecurity in their communities and across Pennsylvania. To donate, please visit http://www.feedingpa.org/support-our-mission/.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.comand follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
Editor's Note: A photo of FirstEnergy President, Pennsylvania Operations Linda Moss presenting the check to the Fill a Glass with Hope® Milk Program is available for download on Flickr.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Jan. 3, 2019 /PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), announced today that the Public Service Commission (PSC) of West Virginia has approved a settlement agreement that will lower electric rates by more than $77 million in 2019 due to reduced costs for fuel, purchased power, and energy efficiency programs. The utilities incur the costs to provide safe and reliable electricity to customers.
The settlement was negotiated by the utilities, PSC Staff, the Consumer Advocate Division, and the West Virginia Energy Users Group. The new rates began Jan. 1, 2019 and remain in place until Dec. 31, 2019.
As a result, the monthly bill for a typical residential customer using 1,000 kilowatt-hours of electricity will decrease by about 2.2 percent or $2.42, which includes $2.13 for fuel and purchased power costs and $.29 for the elimination of the energy efficiency surcharge. The monthly bill for the companies' typical West Virginia customers will drop to $105.83 from the current $108.25.
"This is the second time in recent months that we have reduced rates for our West Virginia customers," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "In September, we reduced rates by nearly $2 per month for average residential customers from savings associated with the federal tax cut. Those savings, coupled with lower fuel and purchased power costs, will cut the average residential customer's monthly bill by more than $4. We are committed to providing our customers safe and reliable electricity at an affordable cost."
With the decreases, rates for Mon Power and Potomac Edison's West Virginia residential customers will be about 19 percent below the national average.
Under a cost recovery process established by the PSC in 2007, Mon Power and Potomac Edison customer bills are adjusted annually to reflect increases or decreases in the cost of fuel used to generate electricity and purchased power. Mon Power and Potomac Edison do not profit from fuel and purchased power costs.
To help customers manage their bills, Mon Power and Potomac Edison offer budget plans, special payment plans, and access to energy assistance programs. For home energy efficiency tips, customers can go to www.firstenergycorp.com or call the Customer Service Center at 1-800-255-3443 to request information.
Mon Power serves about 385,000 customers in the northern half of West Virginia and Potomac Edison serves about 140,000 customers in the state's Eastern Panhandle. Follow the companies on Twitter @MonPowerWV and @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp. (FE), together with its consolidated subsidiaries (FirstEnergy), as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection (FES Bankruptcy); the risks that conditions to the definitive settlement agreement with respect to the FES Bankruptcy may not be met or that the settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors; the risks associated with the FES Bankruptcy that could adversely affect FirstEnergy, its liquidity or results of operations; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate as a fully regulated business and to grow the Regulated Distribution and Regulated Transmission segments to continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organizational structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the sale, transfer or deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, and Cross State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FE and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FE's common stock, and thereby on FE's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FE's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K and previous Quarterly Reports on Form 10-Q, and any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 13, 2018 /PRNewswire/ -- The FirstEnergy Foundation presented surprise $5,000 "Gifts of the Season" to eight non-profit agencies that are working to make lives better in Pennsylvania communities served by FirstEnergy Corp. (NYSE: FE) utilities Pennsylvania Electric Company (Penelec), Metropolitan Edison (Met-Ed), West Penn Power and Pennsylvania Power Company (Penn Power).
Penelec service area recipients include:
Met-Ed service area recipients include:
West Penn Power service area recipients include:
Penn Power service area recipients include:
"We're pleased to provide this surprise support, particularly during the holidays when the services these agencies offer are most vital," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their local areas that do extraordinary work to strengthen the community. Our goal was to focus on programs that enhance children's services or provide additional support for organizations facing a critical need during the holiday season."
The FirstEnergy Foundation's "Gifts of the Season" campaign includes 17 individual donations to non-profit organizations across FirstEnergy's six-state service territory. Photos of FirstEnergy's "Gifts of the Season" check presentations are being shared on social media using the hashtag #GiftsofFE.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
Connect with FirstEnergy and its Pennsylvania companies online at www.firstenergycorp.com, on Twitter at @Met_Ed, @Penelec, @Penn_Power, @W_Penn_Power, or on Facebook at www.Facebook.com/MetEdElectric, www.Facebook.com/PenelecElectric, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 13, 2018 /PRNewswire/ -- The FirstEnergy Foundation presented surprise $5,000 "Gifts of the Season" to four non-profit agencies that are working to make lives better in Maryland and West Virginia communities served by FirstEnergy Corp. (NYSE: FE) utilities Mon Power and Potomac Edison.
Potomac Edison service area recipients include:
Mon Power service area recipients include:
"We're pleased to provide this surprise support, particularly during the holidays when the services these agencies offer are most vital," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their local areas that do extraordinary work to strengthen the community. Our goal was to focus on programs that enhance children's services or provide additional support for organizations facing a critical need during the holiday season."
The FirstEnergy Foundation's "Gifts of the Season" campaign includes 17 individual donations to non-profit organizations across FirstEnergy's six-state service territory. Photos of FirstEnergy's "Gifts of the Season" check presentations are being shared on social media using the hashtag #GiftsofFE.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
Potomac Edison serves about 265,000 customers in seven Maryland counties and about 140,000 customers in the Eastern Panhandle of West Virginia. Visit Potomac Edison at www.firstenergycorp.com, or follow on Twitter @PotomacEdison and on Facebook at www.facebook.com/PotomacEdison.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Visit Mon Power at www.firstenergycorp.com, or follow on Twitter @MonPowerWV and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 13, 2018 /PRNewswire/ -- The FirstEnergy Foundation presented a surprise $10,000 "Gift of the Season" to support the Toms River Field of Dreams project in Jersey Central Power & Light's northern New Jersey service area.
Toms River Field of Dreams aims to become the state's first fully accessible park with an all-inclusive complex to address the physical and social inclusion of people of all ages and abilities. Upon completion, Monmouth and Ocean county individuals of all abilities will have full access to playground equipment, bathroom facilities, sport leagues and social interactions at the complex.
"We're pleased to provide this surprise support to the Toms River Field of Dreams organization, particularly during the holidays when communities come together to help each other out and support great causes," said Dee Lowery, president of the FirstEnergy Foundation. "Every child should be able to experience the joys of the playground, and this project will help make that happen for children in New Jersey."
The FirstEnergy Foundation's "Gifts of the Season" campaign includes 17 individual donations to non-profit organizations across FirstEnergy's six-state service territory.
The winners were chosen secretly by FirstEnergy employees, who identified organizations in their local areas that do extraordinary work to strengthen the community. The FirstEnergy Foundation's goal was to focus on programs that enhance children's services or provide additional support for organizations facing a critical need during the holiday season. Photos of FirstEnergy's "Gifts of the Season" check presentations are being shared on social media using the hashtag #GiftsofFE.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
JCP&L, a FirstEnergy Corp utility, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 13, 2018 /PRNewswire/ -- The FirstEnergy Foundation presented surprise "Gifts of the Season" totaling $30,000 to four non-profit agencies that are working to make lives better in Ohio communities served by FirstEnergy Corp (NYSE: FE) utilities Ohio Edison, The Illuminating Company and Toledo Edison.
Ohio Edison service area recipients receiving $5,000 gifts are:
The Illuminating Company service area recipient receiving a $10,000 gift is:
The Toledo Edison service area recipient receiving a $10,000 gift is:
"We're pleased to provide this surprise support, particularly during the holidays when the services these agencies offer are most vital," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their local areas that do extraordinary work to strengthen the community. Our goal was to focus on programs that enhance children's services or provide additional support for organizations facing a critical need during the holiday season."
The FirstEnergy Foundation's "Gifts of the Season" campaign includes 17 individual donations to non-profit organizations across FirstEnergy's six-state service territory. Photos of FirstEnergy's "Gifts of the Season" check presentations are being shared on social media using the hashtag #GiftsofFE.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
Connect with FirstEnergy and its Ohio companies online at www.firstenergycorp.com, on Twitter at @FirstEnergyCorp, @OhioEdison, @IlluminatingCo, @ToledoEdison, or on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Dec. 10, 2018 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for FirstEnergy Corp. (NYSE: FE) customers in Pennsylvania who need help with winter heating bills. FirstEnergy's Pennsylvania utilities include Metropolitan Edison (Met-Ed), Pennsylvania Electric Company (Penelec), West Penn Power and Pennsylvania Power (Penn Power).
Assistance to qualifying customers is available through the Dollar Energy Fund, the Low-Income Home Energy Assistance Program (LIHEAP), and the Pennsylvania Customer Assistance Program (PCAP).
Low-income customers also can reduce their electric bills by making their homes more energy efficient by participating in the WARM Program, which is administered by the Dollar Energy Fund. Available to homeowners and renters with landlord approval, WARM Program participants:
The specific improvements that a customer is eligible to receive will be determined during the home energy evaluation. While no payment is required for these installations or services, there are household income requirements and electricity use requirements. For more information, customers can call Dollar Energy Fund at 888-282-6816, or apply online at www.energysavepa.com.
FirstEnergy's Pennsylvania residential customers also can manage their electric bills through the Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other company programs, visit www.firstenergycorp.com/billassist or call 800-545-7741.
In addition to the payment options, FirstEnergy offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete a Medical Certification Form describing the resident's medical condition. The Medical Certification process also can be used to restore electric service after a customer has been disconnected.
FirstEnergy also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills but can help make payment arrangements for the customer who might have difficulty paying their bill.
Met-Ed serves about 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
Penn Power serves approximately 163,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower.
West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy Corp. (NYSE: FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid- Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Dec. 10, 2018 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for FirstEnergy (NYSE: FE) customers in West Virginia who need help with winter heating bills. FirstEnergy's West Virginia utilities include Mon Power and Potomac Edison.
Assistance to qualifying customers is available through the Dollar Energy Fund, the West Virginia Emergency Assistance Program, the Low Income Energy Assistance Program (LIEAP), and the West Virginia 20 Percent Discount Program.
Mon Power and Potomac Edison residential customers also can manage their electric bills through the Average Payment Plan (APP). With APP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other company programs, visit www.firstenergycorp.com/billassist or call 800-686-0022.
In addition to the payment options, a Medical Certification program is also available. An appropriate health care professional must complete a Medical Certification Form describing the resident's medical condition enabling additional notification prior to termination.
Mon Power and Potomac Edison also offer a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills but can help make payment arrangements for the customer who might have difficulty paying their bill.
Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE) serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV and on Facebook at www.facebook.com/MonPowerWV.
Potomac Edison, also a subsidiary of FirstEnergy Corp., serves about 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Dec. 10, 2018 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for Jersey Central Power & Light (JCP&L) customers who need help with their winter heating bills.
Assistance to qualifying JCP&L customers is available through Lifeline, Universal Service Fund (USF), The Home Energy Assistance Program (HEAP), the Weatherization Program, Payment Assistance for Gas and Electric (PAGE) and New Jersey SHARES.
JCP&L residential customers also can manage their electric bills through the Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other JCP&L programs, visit www.firstenergycorp.com/billassist or call 800-662-3115.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Dec. 10, 2018 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for eligible Potomac Edison customers who need help with winter heating bills.
Assistance to qualifying customers is available through the Community Energy Fund, the Maryland Energy Assistance Program, the Electric Universal Service Program, and the Utility Service Protection Program.
Potomac Edison residential customers also can manage their electric bills through the Average Payment Plan (APP). With APP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other company programs, visit www.firstenergycorp.com/billassist or call 800-686-0011.
In addition to the payment options, Potomac Edison offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete and sign a Medical Certification Form for the eligible customer.
Potomac Edison also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills but can help make payment arrangements for the customer who might have difficulty paying their bill.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 257,000 customers in seven Maryland counties. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 10, 2018 /PRNewswire/ -- With cold weather now affecting the region, financial assistance programs are available for FirstEnergy Corp. (NYSE: FE) customers in Ohio who need help with winter heating bills. FirstEnergy's Ohio utilities include Ohio Edison, The Illuminating Company and Toledo Edison.
Assistance to qualifying customers is available through the Home Energy Assistance Program (HEAP), Percentage of Income Payment Plan Plus and the $175 Winter Reconnection Option.
Specific customer assistance programs also are available for each utility:
The Illuminating Company
Ohio Edison
Toledo Edison
FirstEnergy Ohio utility residential customers also can manage their electric bills through the Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other company programs, visit www.firstenergycorp.com/billassist or call 800-589-3101.
In addition to the payment options, FirstEnergy offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete and sign a Medical Certification Form for the eligible customer.
FirstEnergy also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills but can help make payment arrangements for the customer who might have difficulty paying their bill.
The Illuminating Company serves 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Connect with The Illuminating Company at www.illuminatingcompany.com, on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
Ohio Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 4, 2018 /PRNewswire/ -- Executives from FirstEnergy Corp. (NYSE: FE) will ring The Closing Bell at the New York Stock Exchange on Tuesday, December 4, to celebrate the company's transition to a fully regulated utility.
"Over the last few years, we have worked to transform FirstEnergy into a premier, customer-focused, fully regulated utility," said James F. Pearson, FirstEnergy's executive vice president of Finance. "Today we are celebrating our progress in this transformation, including our track record of meeting our commitments to investors, our platform for sustained customer-focused growth, and a new dividend policy that supports enhanced shareholder returns."
"We are honored to have this opportunity to ring the closing bell at the New York Stock Exchange and we look forward to a bright future for our investors, customers and employees," he said.
Representatives from FirstEnergy's leadership team and Board of Directors will join Pearson for the event at 4:00 p.m. EST. The NYSE website, www.nyse.com/bell will stream video of the ceremony beginning at 3:58 p.m. EST, and the video will be archived on that site. In addition, photos from the event, including FirstEnergy's banner on the exterior of the Stock Exchange, will be available for download on Flickr.
In addition to being a colorful tradition, the NYSE trading floor bells are critical to the orderly functioning of the marketplace, assuring that no trades take place before the opening or after the close. Learn more about the NYSE bell at www.nyse.com/bell/history.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 3, 2018 /PRNewswire/ -- Twinkling lights and illuminated decorations help add magic to the holidays. FirstEnergy Corp's (NYSE: FE) utilities encourage customers to remember a few helpful tips to ensure the holidays remain safe and efficient and to share their best outdoor holiday lighting displays for a chance to win a weekly prize.
Outdoor Lighting Safety
Indoor Lighting Safety
Efficient Decorating
Merry & Bright Holiday Lights Contest
Customers are invited to show off their best and brightest outdoor holiday light displays by entering FirstEnergy's "Merry & Bright" Holiday Lights Contest.
A photo or video of customers' outdoor lighting displays can be submitted on their respective electric company's Facebook page until Friday, Dec. 14. One entry from each of FirstEnergy's 10 utility companies will be randomly selected to receive a $100 Amazon gift card each week. Winning entries will be shared on Facebook each week.
Participants must be 18 years old and FirstEnergy customers. More information, including complete contest rules, are available on each utility's Facebook page.
Connect with FirstEnergy companies online at www.firstenergycorp.com, on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.facebook.com/PenelecElectric, www.facebook.com/PotomacEdison, www.facebook.com/MonPowerWV and www.facebook.com/JCPandL or on Twitter at @OhioEdison, @IlluminatingCo, @ToledoEdison, @Penn_Power, @W_Penn_Power, @MonPowerWV, @Penelec, @PotomacEdison, or @JCP_L.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the first week's "Merry & Bright" contest winners are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 19, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utilities continue work to complete service restoration for customers who lost power after the recent ice and snow storm. The company's Ohio Edison, Penn Power and West Penn Power utilities in eastern Ohio and western Pennsylvania were hit hardest by the storm. More than 274,000 customers lost power during the storm, and as of 5:00 p.m. Monday, November 19, about 4,400 remain without service.
FirstEnergy's utilities have restored more than 269,000 customers to service, replaced more than 1,000 spans of wire and hundreds of poles and crossarms, and worked through more than 2,000 damaged trees and 500 closed roads to repair service.
Utility Summaries
More Information
For updated information on power outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
Connect with FirstEnergy companies online at www.firstenergycorp.com, on Twitter at @OhioEdison, @IlluminatingCo, @ToledoEdison, @Penn_Power, @W_Penn_Power, @MonPowerWV, @Penelec, or @PotomacEdison, or on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.facebook.com/PenelecElectric, www.facebook.com/PotomacEdison, www.facebook.com/MonPowerWV.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 16, 2018 /PRNewswire/ -- Service has been restored to more than 152,000 customers who lost power across FirstEnergy Corp.'s (NYSE: FE) service territory following the winter ice and snow storm that hit the region yesterday. Since the storm began, repairs have been made at hundreds of locations, and crews are working around the clock to restore service to approximately 85,000 customers who remain without power in Ohio, Pennsylvania, West Virginia, Maryland and New Jersey.
Among the areas hardest hit were eastern Ohio and western Pennsylvania, where more than 145,000 customers of Ohio Edison, Penn Power and West Penn Power lost power due to the storm. Approximately 470 additional line workers, damage assessors and hazard responders are being deployed to assist FirstEnergy utilities with restoration efforts in these areas.
As damage assessment progresses, expected restoration times will be updated on FirstEnergy's 24/7 Power Center outage maps. Full restoration may stretch into late Sunday evening for some of the hardest hit areas, including Columbiana, Mahoning, Stark and Trumbull counties in Ohio and Butler, Armstrong and Allegheny counties in Pennsylvania.
"Accumulating ice, wet snow and brisk winds caused heavy, ice-coated branches and trees to fall into power lines and other equipment," said Samuel L. Belcher, senior vice president and president of FirstEnergy Utilities. "We will continue to work round-the-clock to safely make repairs and deploy resources as needed until all customers are restored."
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
Customers also are reminded of the following safety tips for preparing for and dealing with outages caused by winter weather:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive billing reminders, weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
READING, Pa., Nov. 15, 2018 /PRNewswire/ -- Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can increase demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help enhance system resiliency to keep power flowing to customers when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure and readying our vehicles for winter operations ensures our crews and system are ready to perform when the weather turns cold and snow begins to fall," said Scott Wyman, regional president of Penelec. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on approximately 2,500 miles of FirstEnergy transmission lines located in the Penelec area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Penelec tree contractors are trimming along approximately 4,000 circuit miles of electric lines this year.
Penelec, a subsidiary of FirstEnergy Corp., serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 15, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can increase demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help enhance system resiliency to keep power flowing to customers when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure and preparing our vehicles for winter operations ensures our crews and system are ready to perform when the weather turns cold and snow begins to fall," said Alex Patton, vice president of Operations, JCP&L. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections of transmission lines located in the JCP&L area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. JCP&L tree contractors expect to complete tree trimming along more than 3,600 circuit miles of electric lines in 2018.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 15, 2018 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's bitter temperatures typically increase demand for electricity, and snow, ice and wind have the potential to damage poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help enhance system resiliency to keep power flowing to customers when severe weather strikes.
"Crews are readying our infrastructure for the rigors of winter as well as making certain our bucket trucks and other fleet vehicles can safely navigate treacherous roadways when the mercury drops and the snow flies," said James A. Sears, Jr., vice president of Potomac Edison. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The checklist includes inspecting substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Substation control buildings which house protective relays and remote monitoring and control equipment will be winterized and have their heating systems checked.
Substation electricians inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Electricians view critical components through special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on approximately 1,400 miles of FirstEnergy transmission lines located in the Potomac Edison service area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Potomac Edison tree contractors expect to complete trimming along nearly 2,500 circuit miles of electric lines in 2018.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 15, 2018 /PRNewswire/ -- The Pennsylvania Power Company (Penn Power) is preparing for winter by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help enhance system resiliency to keep power flowing to customers when severe winter weather strikes.
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on FirstEnergy transmission lines located in the Penn Power area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Penn Power tree contractors expect to complete trimming along more than 1,200 circuit miles of electric lines in 2018.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy (NYSE: FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 15, 2018 /PRNewswire/ -- Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can increase demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help enhance system resiliency to keep power flowing to customers when severe winter weather strikes.
"Crews are readying our infrastructure for the rigors of winter as well as making certain our bucket trucks and other fleet vehicles can safely navigate treacherous roadways when the mercury drops and the snow flies," said Mark Jones, regional president of Toledo Edison. "The steps we take now in advance of potential severe weather conditions help enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on FirstEnergy transmission lines located in the Toledo Edison area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Toledo Edison tree contractors expect to complete trimming along more than 1,380 circuit miles of electric lines in 2018.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
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SOURCE Toledo Edison
FAIRMONT, W.Va., Nov. 15, 2018 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by completing inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's bitter temperatures typically increase demand for electricity, and snow, ice and wind have the potential to damage poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help enhance system resiliency to keep power flowing to customers when severe winter weather strikes.
"Crews are readying our infrastructure for the rigors of winter as well as making certain our bucket trucks and other fleet vehicles can navigate treacherous roadways when the mercury drops and the snow flies," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The checklist includes inspecting substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Substation control buildings which house protective relays and remote monitoring and control equipment will be winterized and have their heating systems checked.
Substation electricians inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Electricians view critical components through special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on approximately 2,100 miles of FirstEnergy transmission lines located in the Mon Power area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Mon Power tree contractors expect to complete trimming along more than 4,500 circuit miles of electric lines in 2018.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 15, 2018 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by conducting inspections and maintenance on weather-sensitive equipment across its northern and central Ohio service areas.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance on equipment now can help enhance system resiliency to keep power flowing to customers when severe winter weather strikes.
"Crews are readying our infrastructure for the rigors of winter by completing various maintenance tasks across our system," said Rich Sweeney, regional president of Ohio Edison. "The steps we take now in advance of potential severe weather conditions help enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on FirstEnergy transmission lines located in the Ohio Edison area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Ohio Edison tree contractors expect to complete trimming along more than 5,600 circuit miles of electric lines in 2018.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 15, 2018 /PRNewswire/ -- The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can increase demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help enhance system resiliency to keep power flowing to customers when severe winter weather strikes.
"Crews are readying our infrastructure for the rigors of winter as well as making certain our bucket trucks and other fleet vehicles can safely navigate treacherous roadways when the mercury drops and the snow flies," said John Skory, regional president of The Illuminating Company. "The steps we take now in advance of potential severe weather conditions help enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on FirstEnergy transmission lines located in The Illuminating Company area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. The Illuminating Company tree contractors expect to complete trimming along more than 2,100 circuit miles of electric lines in 2018.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 15, 2018 /PRNewswire/ -- West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's bitter temperatures typically increase demand for electricity, and snow, ice and wind have the potential to damage poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help enhance system resiliency to keep power flowing to customers when severe weather strikes.
"Crews are readying our infrastructure for the rigors of winter as well as making certain our bucket trucks and other fleet vehicles can navigate treacherous roadways when the mercury drops and the snow flies," said David W. McDonald, regional president of West Penn Power. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The checklist includes inspecting substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Substation control buildings which house protective relays and remote monitoring and control equipment will be winterized and have their heating systems checked.
Substation electricians inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Electricians view critical components through special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on approximately 1,700 miles of FirstEnergy transmission lines located in the West Penn Power service area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. West Penn Power tree contractors expect to complete trimming along more than 5,000 circuit miles of electric lines in 2018.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
READING, Pa., Nov. 15, 2018 /PRNewswire/ -- Metropolitan Edison (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), is preparing for winter by conducting inspections and equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can increase demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help enhance system resiliency to keep power flowing to customers when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure and preparing our vehicles for winter operations ensures our crews and system are ready to perform when the weather turns cold and snow begins to fall," said Ed Shuttleworth, Met-Ed regional president. "The steps we take in advance of potential severe weather conditions help enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers and oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent or reduce service interruptions. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment that could malfunction as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked.
Helicopter patrols also are completing inspections on approximately 1,400 miles of FirstEnergy transmission lines located in the Met-Ed area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
Tree trimming throughout the year also helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Met-Ed tree contractors are trimming along more than 3,600 circuit miles of electric lines this year.
Met-Ed serves approximately 560,000 customers in 14 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 15, 2018 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has been recognized by the Maryland Chamber of Commerce and the Baltimore Business Journal for its commitment to philanthropic efforts that improve the quality of life of Maryland residents.
In the past year, Potomac Edison and the FirstEnergy Foundation have provided more than $250,000 in grants and donations to health and human services, educational and community involvement initiatives in Maryland. These efforts include Potomac Edison employees donating more than $18,000 and nearly 450 pounds of food to support the 2018 Harvest for Hunger campaign. In addition, more than 30 employees dedicated their time and talent to the 2018 United Way Day of Caring, helping local nonprofit agencies tackle meaningful projects that revitalize Maryland communities.
"It's an honor to be recognized by the Maryland community for our longstanding commitment to the prosperity and vitality of the communities where we live and work," said James Sears, President of Maryland Operations for Potomac Edison. "It's especially gratifying for our employees, whose volunteer efforts and other contributions help those in need and provide vital support to charitable organizations across our service area."
Potomac Edison is considered a medium business as part of the selection process. Awards are presented annually to one small (1-100 employees), medium (101-500 employees) and large (more than 500 employees) business that demonstrates outstanding support for local non-profits, 501(c)(3)s and schools throughout the state. Winners are chosen by a panel of business and community leaders based on the extent of service provided to the community, the impact on the community and the commitment the business has shown to the community over time.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 265,000 customers in seven Maryland counties and about 140,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of Potomac Edison employees at the 2018 United Way Day of Caring are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/potomac-edison-recognized-with-business-philanthropy-award-for-outstanding-support-of-maryland-communities-300751428.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 13, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has launched a new branding campaign called "Brighter Future" that taps into the stories of employees working to build a brighter future for customers, communities and the environment.
The campaign kicks off this week and will run through March 2019. The initial ad highlights how FirstEnergy's use of aerial drones helps to protect osprey nests on transmission lines. Other employee stories will follow that highlight individual members of FirstEnergy's diverse and talented workforce and how they make the future brighter for customers and communities.
"Our Brighter Future campaign is a reflection of the company's mission statement," said Gretchan Sekulich, vice president, Communications and Branding. "By putting the spotlight on a diverse group of employees and their stories, we're showing customers the various ways our employees put our mission statement into action – creating a brighter future by finding smarter ways to deliver the power our customers rely on in their daily lives."
It includes television ads in 12 markets, radio spots in 18 markets, billboards in Ohio, and digital banner ads and paid social media support across FirstEnergy's six-state footprint. In addition, FirstEnergy's website, www.firstenergycorp.com, will feature long-form, documentary-style videos about the employees showcased in the campaign as the videos are launched.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: FirstEnergy's "Brighter Future" campaign materials, including the billboards and banner ads, are available for download on Flickr.
View original content to download multimedia:http://www.prnewswire.com/news-releases/firstenergy-launches-new-branding-campaign-featuring-employees-and-technology-that-make-the-future-brighter-300749233.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 9, 2018 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio utilities – Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison – today filed a stipulated agreement that will return $900 million to customers as a result of the Tax Cut and Jobs Act. The proposed settlement is supported by the Public Utilities Commission of Ohio (PUCO) Staff, representatives of industrial and commercial customers, environmental advocates, hospitals, competitive generation suppliers and other parties.
Upon Commission approval, a typical residential customer using 1,000 kilowatt hours of electricity could expect to see an immediate $3.90 reduction in monthly bills, with the rest of the savings credited to customers over the next 25 years. With the agreement, FirstEnergy's Ohio customers will receive 100 percent of the tax savings created by the Tax Cut and Jobs Act.
FirstEnergy also will invest more than $500 million over three years to modernize the electric distribution system with advanced automation equipment, real-time voltage controls and the installation of 700,000 smart meters. The settlement advances the PUCO's PowerForward initiative to enhance customers' electricity experience while keeping monthly bills affordable. It also resolves two previous grid modernization cases that were pending with the PUCO.
The grid modernization programs will enhance electric service for customers by reducing the frequency and duration of power outages, eliminating estimated meter reads and providing customers with greater access to more detailed electric usage information.
"The agreement filed with the PUCO will deliver financial and service reliability benefits for our customers now and in the future," said Samuel L. Belcher, senior vice president and president of FirstEnergy Utilities. "The grid modernization initiative is consistent with the technology supported by the PUCO and the initial deployment of smart meters for our Ohio utilities will ultimately help customers make more informed decisions about their energy usage."
Key components of FirstEnergy's grid modernization plan outlined in the settlement include:
FirstEnergy has asked the PUCO to act on the settlement agreement by December 31, 2018.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp. (FE), together with its consolidated subsidiaries (FirstEnergy), as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection (FES Bankruptcy); the risks that conditions to the definitive settlement agreement with respect to the FES Bankruptcy may not be met or that the settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors; the risks associated with the FES Bankruptcy that could adversely affect FirstEnergy, its liquidity or results of operations; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate as a fully regulated business and to grow the Regulated Distribution and Regulated Transmission segments to continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organizational structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the sale, transfer or deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, and Cross State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FE and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FE's common stock, and thereby on FE's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FE's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K and previous Quarterly Reports on Form 10-Q, and any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 9, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that its Board of Directors has approved a dividend policy that reflects the company's confidence in its growth initiatives.
The new policy includes a targeted payout ratio of 55 to 65 percent of the company's operating (non-GAAP) earnings.
As a first step, the Board declared a dividend of $0.38 per common share payable on March 1, 2019, to shareholders of record as of February 7, 2019. This represents an increase of 6 percent compared to quarterly payments of $0.36 per common share paid by the company since 2014.
The Board will continue to base decisions regarding future dividend payments on FirstEnergy's earnings growth, cash flows, credit metrics, and other business conditions.
"The adoption of a dividend policy is a capstone on our transformation to a fully regulated utility," said FirstEnergy President and Chief Executive Officer Charles E. Jones. "With a long-term, sustainable growth plan supported by investment grade credit ratings, we are well positioned to enhance shareholder returns as we continue to invest in our strategic initiatives."
FirstEnergy also announced 2019 operating (non-GAAP) earnings guidance of $2.45 to $2.75 per fully diluted share*, and affirmed its compound annual operating (non-GAAP) earnings growth rate projection of 6 to 8 percent through 2021.
Jones will discuss these developments and the company's key objectives in a presentation to investors at the Edison Electric Institute Financial Conference on Tuesday, November 13, 2018, at approximately 11:15 a.m. EST.
A live webcast of the presentation will be available on FirstEnergy's investor information website, www.firstenergycorp.com/ir, by clicking the Edison Electric Institute Financial Conference link. Presentation slides and associated materials are also available on the website.
The webcast and presentation will also be archived on FirstEnergy's website and available for replay for up to one year.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
* The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort. 2019 operating (non-GAAP) earnings guidance of $2.45 to $2.75 per share is based on forecasted GAAP net income of $1,320 million to $1,485 million and fully diluted shares of 540 million.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp. (FE), together with its consolidated subsidiaries (FirstEnergy), as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection (FES Bankruptcy); the risks that conditions to the definitive settlement agreement with respect to the FES Bankruptcy may not be met or that the settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors; the risks associated with the FES Bankruptcy that could adversely affect FirstEnergy, its liquidity or results of operations; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate as a fully regulated business and to grow the Regulated Distribution and Regulated Transmission segments to continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organizational structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the sale, transfer or deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, and Cross State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FE and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FE's common stock, and thereby on FE's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FE's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K and previous Quarterly Reports on Form 10-Q, and any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 2, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that President and Chief Executive Officer Charles E. Jones will make a presentation to investors at the Edison Electric Institute Financial Conference on Tuesday, November 13, 2018, at approximately 11:15 a.m. EST. The presentation will include an update on the company's key objectives and expectations for 2019.
Interested parties may listen to a live webcast of the presentation and view the company's slides associated with the event by visiting FirstEnergy's investor information website, www.firstenergycorp.com/ir, and clicking the Edison Electric Institute Financial Conference link. The company plans to post presentation slides and associated materials to its website after markets close on November 9, 2018.
The webcast and presentation will also be archived on FirstEnergy's website and available for replay for up to one year.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 25, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported third quarter 2018 GAAP losses of $(512) million, or $(1.02) per basic and diluted share, on revenue of $3.1 billion. The results reflect charges related to FirstEnergy's court-approved settlement agreement in the FirstEnergy Solutions (FES) and FirstEnergy Nuclear Operating Company (FENOC) bankruptcy cases, as well as other special items listed below.
Operating (non-GAAP) earnings* for the third quarter of 2018 were $0.80 per share, which exceeded the top of the company's third quarter operating (non-GAAP) earnings guidance.
During the third quarter of 2017, GAAP earnings were $396 million, or $0.89 per basic and diluted share, on revenue of $2.9 billion. This compares with operating (non-GAAP) earnings of $0.63 per share during the period.
"In addition to our strong operational and financial performance during the third quarter, we achieved significant milestones in our progress to become a fully regulated utility," said Charles E. Jones, FirstEnergy president and chief executive officer. "Our court-approved settlement agreement in the FES and FENOC bankruptcy proceedings is a key step in our exit from competitive generation," he said. "We also took important steps during the quarter to align our organization and cost structure to efficiently and effectively support our regulated business going forward."
The company is updating its full-year 2018 GAAP earnings forecast range to $1.68 to $2.60 per share, and raising and narrowing its full-year operating (non-GAAP) earnings guidance range to $2.50 to $2.60 per share. FirstEnergy also reaffirmed its three-year operating (non-GAAP) earnings growth rate projections.**
Third quarter 2018 earnings increased in the company's Regulated Distribution business as a result of higher weather-related usage, stronger industrial demand, and higher weather-adjusted load in the residential sector compared to the same period in 2017. Results also benefited from lower expenses, higher regulated commodity margin and lower net financing costs, which offset higher depreciation expense and general taxes.
Total distribution deliveries increased 6.3 percent compared to the same period in 2017, largely driven by hot summer weather, with cooling degree days measuring 28 percent higher than in the third quarter of 2017, and 29 percent above normal.
Residential sales increased 12.9 percent, while sales to commercial customers increased 2.7 percent. Deliveries to industrial customers, led by the shale gas and steel sectors, increased 2.5 percent, marking the ninth consecutive quarter of growth in that customer class.
In the Regulated Transmission business, third quarter earnings benefited from higher rate base at the company's Mid-Atlantic Interstate Transmission (MAIT) and American Transmission System, Inc., (ATSI) subsidiaries, as well as the implementation of approved settlement rates at Jersey Central Power & Light.
In Corporate/Other, third quarter 2018 results reflect the impact of the lower federal income tax rate and higher expenses.
For the first nine months of 2018, FirstEnergy's GAAP earnings were $853 million, or $1.76 per basic share ($1.75 diluted) on revenue of $8.6 billion. This compares to GAAP earnings of $775 million or $1.75 per basic share ($1.74 diluted) in the first nine months of 2017, on revenue of $8.2 billion.
Operating (non-GAAP) earnings for the first nine months of 2018 were $2.09 per share, compared to $1.60 per share through the first three quarters of 2017.
Consolidated GAAP Earnings Per Share (EPS) to | ||||||||||||
Third Quarter | Year-To-Date | 2018 Estimate | ||||||||||
2018 | 2017 | 2018 | 2017 | Full Year | ||||||||
Basic EPS (GAAP) | $ (1.02) | $ 0.89 | $ 1.76 | $ 1.75 | $ 1.68 – $ 2.60 | |||||||
Excluding Special Items*: | ||||||||||||
Regulatory charges | (0.05) | 0.03 | (0.21) | 0.05 | (0.21) | |||||||
Mark-to-market adjustments - Pension/OPEB actuarial assumptions | – | – | – | – | 0.44 – (0.30) | |||||||
Exit of competitive generation | 1.69 | (0.13) | (0.18) | 0.11 | (0.15) | |||||||
Debt redemption costs | – | 0.01 | 0.21 | 0.01 | 0.21 | |||||||
Tax reform | – | – | 0.02 | – | 0.02 | |||||||
Impact of full dilution to 538M shares | 0.18 | (0.17) | 0.49 | (0.32) | 0.51 – 0.43 | |||||||
Total Special Items* | 1.82 | (0.26) | 0.33 | (0.15) | $0.82 - $0.00 | |||||||
Operating (non-GAAP) EPS | $ 0.80 | $ 0.63 | $ 2.09 | $ 1.60 | $2.50 – $2.60 | |||||||
Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by number of shares outstanding assuming full impact of dilution from the $2.5 billion equity issuance in January 2018 (538M fully diluted shares). The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pretax amount if deductible/taxable. The income tax rates range from 21% to 29%, and 35% to 42% in the third quarter and first nine months of 2018 and 2017, respectively. |
Non-GAAP financial measures
*Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Operating earnings (loss) per share, a non-GAAP financial measure, is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented by 538 million shares, which reflects the full impact of share dilution from the equity issuance in January 2018. As of the first quarter 2018, Regulated operating (non-GAAP) earnings (loss), Regulated operating earnings (loss) per share, and Regulated operating earnings (loss) per share by segment, which were non-GAAP financial measures used in the guidance provided in February 2018, are now referred to as Operating earnings (loss), Operating earnings (loss) per share, and Operating earnings (loss) per share by segment, respectively. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Deconsolidation
As a result of the bankruptcy filings, FES, its subsidiaries and FENOC were deconsolidated from FirstEnergy's consolidated financial statements as of March 31, 2018. Additionally, the operating results of FES and FENOC, as well as Bay Shore Power Company and the majority of Allegheny Energy Supply, LLC that were subject to completed or pending asset sales and transfers, collectively representing substantially all of FirstEnergy's operations that comprised the Competitive Energy Services (CES) reportable operating segment, will be presented as discontinued operations in Corporate/Other. During the third quarter of 2018, the Pleasants Power Station was also reclassified to discontinued operations. The remaining business activities that previously comprised the CES reportable operating segment were not material, and as such, have been combined into Corporate/Other for reporting purposes. The external segment reporting is consistent with the internal financial reports used by FirstEnergy's Chief Executive Officer (its chief operating decision maker) to regularly assess performance of the business and allocate resources. Disclosures for FirstEnergy's reportable operating segments for 2017, including the presentation of non-GAAP financial measures, have been revised to conform to the current presentation.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the third quarter and first nine months of the year, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on Third Quarter 2018 Consolidated Report to the Financial Community.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Third Quarter 2018 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp. (FE), together with its consolidated subsidiaries (FirstEnergy), as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp. (FES), its subsidiaries, and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection (FES Bankruptcy); the risks that conditions to the definitive settlement agreement with respect to the FES Bankruptcy may not be met or that the settlement agreement may not be otherwise consummated, and if so, the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors; the risks associated with the FES Bankruptcy that could adversely affect FirstEnergy, its liquidity or results of operations; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, our strategy to operate as a fully regulated business and to grow the Regulated Distribution and Regulated Transmission segments to continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organizational structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the sale, transfer or deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, and Cross State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FE and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FE's common stock, and thereby on FE's preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FE's Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K and previous Quarterly Reports on Form 10-Q, and any subsequent Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 25, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utilities are preparing to deploy more than 1,000 line workers, damage assessors, hazard responders and forestry personnel to New Jersey and eastern Pennsylvania in advance of high winds forecast to hit the east coast beginning late Friday. Jersey Central Power & Light (JCP&L) in New Jersey and Metropolitan Edison Company (Met-Ed) in eastern Pennsylvania are the FirstEnergy utilities expected to be hardest hit by the storm.
FirstEnergy meteorologists are monitoring a developing storm system generated, in part, by Hurricane Willa as it hits Mexico and continues its path northeast. Current trends show the possibility of severe weather, including winds gusting to 50 mph, that could cause widespread power outages in JCP&L and Met-Ed as well as scattered outages in the company's Pennsylvania Electric Company (Penelec) and West Penn Power utilities in Pennsylvania, Mon Power in West Virginia and Potomac Edison in Maryland.
"We continue to monitor weather conditions closely and are making plans to deploy resources to the areas that could get hit the hardest," said Dave Karafa, vice president, Distribution Support, FirstEnergy. "The ultimate goal of our pre-planning efforts is to expedite the restoration process and minimize any inconvenience our customers experience due to the weather."
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 24, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is preparing for the impact of severe weather that is forecast to impact parts of the East Coast beginning Friday, including heavy rain and wind gusts of more than 50 mph across the company's service areas in northern and central New Jersey.
Company meteorologists are monitoring a developing storm system generated, in part, by the remnants of Hurricane Willa as it exits Mexico and continues its path east. Current trends show the possibility of severe weather affecting JCP&L and other FirstEnergy utilities in Pennsylvania, Maryland and West Virginia beginning Friday night and into the weekend.
JCP&L personnel are reviewing storm response plans, which include making arrangements to bring in additional line, substation and forestry personnel, and additional dispatchers and analysts at regional dispatch offices, as required, based on the severity of the weather.
Plans also include:
"We are taking steps now to implement our storm restoration process," said James V. Fakult, president of Jersey Central Power & Light. "The ultimate goal of our pre-planning efforts is to speed the restoration process and minimize any inconvenience our customers experience due to the weather."
Customers who may be left without power after the storm are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com.
In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
Customers are encouraged to prepare for the possibility of outages:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive billing reminders, weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts.
More information about these communications tools is available online at www.firstenergycorp.com/connect.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 24, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has earned special electric industry recognition from the Edison Electric Institute (EEI) for excellence in providing superior service to multisite National Account customers, such as big-box retailers and major restaurant chains.
The award was presented to FirstEnergy at a recent EEI National Key Accounts Workshop in San Antonio and is based on votes cast by large national customers representing a wide variety of industries, including national brands such as Costco, The Home Depot, Marriott Hotels, McDonalds, Staples, Target, TJX Companies, and Walmart.
"Congratulations to this year's winning companies and executives for their outstanding customer service and sustained excellence," said EEI President Tom Kuhn. "Electric company National Key Account executives serve as vital partners, providing national key account customers with education and resources to meet their evolving needs and expectations. Throughout the electric power industry, electric companies are shifting toward customer-centric energy products and providing safe, reliable, affordable, and cleaner energy."
"We offer our national account customers a 'one-stop shop' to quickly and efficiently resolve issues they might have regarding such things as energy efficiency education, or power quality, billing or metering questions," said Samuel Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "This represents the fourth time FirstEnergy has been honored by EEI for the service we provide our key national accounts and it is rewarding to know that our strong efforts continue to be recognized by customers and the utility industry alike."
Overall, FirstEnergy manages more than 200 national brands that include retailers, restaurants and other industries, representing tens of thousands of electric meters in the company's six-state footprint.
The awards for Outstanding National Key Account Customer Service were established by EEI's Customer Advisory Group, composed of national chain customers who provide feedback, guidance and support to EEI's National Key Accounts program. The customer-oriented program allows multisite customers and electric company account representatives to develop efficient energy management strategies that can be integrated into facilities nationwide.
EEI is the association that represents all U.S. investor-owned electric companies. Members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition, EEI has more than 60 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
Editor's Note: A photo of FirstEnergy employees accepting the EEI National Account award for excellence is available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 22, 2018 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Beaver Valley Power Station Unit 2 in Shippingport, Pa., shut down at 12:01 a.m. on Sunday, October 21, for scheduled refueling and maintenance.
While the unit is offline, one-third of the 157 fuel assemblies will be replaced and numerous safety inspections will be conducted, including inspections of the unit's reactor vessel head, turbine and electrical generator. In addition, preventive maintenance to ensure continued safe and reliable operations will be performed on major components including the plant's three steam generators, which convert heated water from the reactor to steam which turns the plant's turbine to create electricity, as well as various pumps, motors, valves and the cooling tower. In total, more than 7,000 work activities will be completed during the refueling outage.
More than 1,000 temporary contractor workers and 600 FENOC and FirstEnergy employees will supplement the Beaver Valley workforce during the outage.
The 933-megawatt Beaver Valley Unit 2 has operated safely and reliably, generating more than 11 million megawatt hours of electricity since the completion of its last refueling on May 21, 2017.
FENOC also operates the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Follow the nuclear plants on Twitter @BVPowerStation, @Perry_Plant, and @DavisBesse.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 18, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the third quarter and first nine months of 2018 after markets close on Thursday, October 25. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Friday, October 26. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its third quarter Consolidated Report to the Financial Community to the investor section of the website after markets close on October 25.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 12, 2018 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) utilities will send additional employees from Maryland and Pennsylvania to assist with power restoration in the aftermath of Hurricane Michael, which has disrupted electric service to more than 1.5 million customers across the southeast.
More than 250 FirstEnergy line workers and support personnel are now involved in the effort, including approximately 125 employees sent earlier this week from Ohio and West Virginia. In addition, the company has released more than 175 contractor employees to assist with restoration work.
FirstEnergy's crews are initially scheduled to assist Georgia Power in Georgia and Dominion Energy in Virginia with restoration efforts, which will include assessing damage, replacing broken poles, stringing new wires and replacing other equipment as needed to restore power. These efforts also include special hazards like blocked roads, localized flooding and wildlife hazards that are difficult to predict ahead of time.
"Just as out-of-state utilities assist us when major storms impact our customers, FirstEnergy is committed to sending our crews to other states to help massive power restoration efforts," said Samuel L. Belcher, senior vice president and president of FirstEnergy Utilities. "We understand that power outages complicate customers' ability to recover from the extensive storm impacts, and all the crews are focused on working together to restore electric service safely and as efficiently as possible."
FirstEnergy is a member of multiple electric utility mutual-assistance groups that work cooperatively to restore service to customers when a natural disaster causes large-scale power outages. Mutual assistance allows utilities to pool their resources to help restore power to customers faster. In the past, FirstEnergy and its employees have been honored by the Edison Electric Institute (EEI) with its "Emergency Assistance Award" for the mutual assistance the company has provided during winter and summer storms.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A video discussing the work crews will do to assist with power restoration is available on YouTube.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 11, 2018 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) utilities have sent about 125 linemen, electrical contractors and support personnel to help restore power following Hurricane Michael, a powerful storm that caused destruction in the Florida panhandle when it made landfall and continues to leave damage behind as it moves northeast across the southeastern U.S.
This assistance is part of the company's long-standing tradition of assisting other utility companies with service restoration following large-scale weather events. Hurricane Michael has left nearly a million people without power across the south since Wednesday.
Workers assisting with the storm came from Ohio Edison, Toledo Edison and The Illuminating Company in Ohio, and Mon Power in West Virginia. Due to extensive damage throughout the region, assessment and planning for repair are still taking place. Additional FirstEnergy crews are prepared to respond if their assistance is requested. Jersey Central Power & Light and Metropolitan Edison crews will remain in their service areas for now in case remnants of the hurricane cause damage in New Jersey or eastern Pennsylvania.
"FirstEnergy employees are committed to helping with the massive power restoration effort across the region in the wake of this damaging storm," said Samuel L. Belcher, senior vice president and president of FirstEnergy Utilities. "At the same time, we continue to monitor this storm for its potential impact on our utilities as it tracks northeast to the east coast and out to sea, and we are confident we have the personnel in place to maintain reliable operations for our customers."
FirstEnergy is a member of multiple electric utility mutual-assistance groups that work cooperatively to restore service to customers when a natural disaster causes large-scale power outages. Mutual assistance allows utilities to pool their resources to help restore power to customers faster. In the past, FirstEnergy and its employees have been honored by the Edison Electric Institute (EEI) with its Emergency Assistance Award for the mutual assistance the company has provided during winter and summer storms.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Oct. 11, 2018 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), relocated a half-mile stretch of a high-voltage transmission line in Tucker County for the construction of a new Corridor H highway bridge that is part of a West Virginia initiative to increase economic prosperity in historically hard-to-reach communities.
The $3-million project eliminates power line interference and clearance issues with the new bridge. Sections of the 138,000-volt transmission line that link substations near Elkins and Parsons were reconstructed on five new steel monopoles farther up the mountainside. The relocated portion of the line maintains necessary electrical clearances by crossing the new bridge high overhead rather than passing 150 feet beneath the bridge along its original route.
Crews used a crane truck to hoist the steel poles, which stand between 90 and 100 feet tall, onto concrete foundations just north of U.S. Route 219.
"Mon Power is committed to doing our part to accommodate not only this particular Corridor H bridge work, but also a long list of highway projects under the state's Roads to Prosperity initiative," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "More accessible roadways, combined with Mon Power's safe and reliable electric service, can help enhance economic activity in the region."
The line relocation is part of FirstEnergy's plans to invest about $189 million in 2018 on distribution and transmission infrastructure projects to help enhance service reliability and meet future economic growth for its customers in Mon Power's 34-county West Virginia service area.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Mon Power's relocated line are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection; the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors, and the ability to successfully execute a definitive settlement agreement and obtain approvals from the Bankruptcy Court and others necessary for the comprehensive settlement as agreed to in principle; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organization structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals and Cross-State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K and previous Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 3, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced a Request for Proposal (RFP) to purchase both Ohio-compliant Solar Renewable Energy Credits (SRECs) and Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison. The purchases will help meet the utilities' 2018 renewable energy targets established under Ohio's alternative energy law.
SRECs and RECs sought in this RFP must be able to be utilized by the utilities for compliance with its 2018 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM-EIS GATS, and generated between January 1, 2016, and December 31, 2018. The following amounts are being sought:
One SREC represents the environmental attributes of one megawatt hour of generation from a solar renewable generating facility qualified by the PUCO. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from utility customers through a monthly charge filed quarterly with the PUCO.
No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications and must be able to prove their SREC or REC generating facilities are certified or in the process of becoming certified by the PUCO.
The RFP is a competitive process managed by Navigant Consulting, Inc., an independent evaluator and a global consulting firm with expertise in energy markets, renewables and competitive procurements. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs and SRECs.
The FirstEnergy Ohio utilities have established a website to provide bidders with a central source of documents, data and other information for the RFP process. This information is available by accessing http://www.FEOhioRECRFP.com.
On October 9, 2018, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, Navigant, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website.
To participate in the RFP, potential bidders are encouraged to submit credit applications by October 30, 2018, and proposals are due November 6, 2018, by 5 p.m. EPT.
The RFP Manager is Dan Bradley, Managing Director, Navigant Consulting, Inc. He can be reached via e-mail at manager@FEOhioRECRFP.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection; the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors, and the ability to successfully execute a definitive settlement agreement and obtain approvals from the Bankruptcy Court and others necessary for the comprehensive settlement as agreed to in principle; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organization structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals and Cross-State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K and previous Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 27, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that Senior Vice President and Chief Financial Officer Steven E. Strah will participate in a panel discussion at the Wolfe Research Utilities & Energy Conference on Wednesday, October 3, 2018. The panel, titled, "Utility Transition Stories," is scheduled to begin at approximately 9:30 a.m. EDT.
A live webcast of the discussion will be available on FirstEnergy's investor information website, www.firstenergycorp.com/ir, by clicking the Wolfe Research Utilities & Energy Conference link.
Slides associated with the discussion will be posted to FirstEnergy's website the morning of October 3. The webcast and slides will also be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 26, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that the bankruptcy court has approved the company's definitive settlement agreement in the Chapter 11 proceedings of FirstEnergy Solutions (FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC).
"This is an exciting development for FirstEnergy," said President and Chief Executive Officer Charles E. Jones. "Less than two years ago, we committed to exiting competitive markets, so that our company could focus on growing our regulated businesses. With the court's approval of this fair and equitable settlement agreement, we are looking forward to focusing on our distribution and transmission businesses and providing shareholders with stable, predictable growth. We believe this is an important milestone for our company, and our customers."
The definitive settlement agreement was filed with the bankruptcy court in the FES Chapter 11 proceeding in late August and approved on September 25. Parties to the settlement include FirstEnergy, the Debtors, the Ad Hoc Noteholders Group, the Bruce Mansfield Certificateholders Group and the Unsecured Creditors Committee.
Complete terms of the agreement are described in the court filing, available here, https://cases.primeclerk.com/FES and in FirstEnergy's August 27, 2018, disclosure on Form 8-K, which is available at https://investors.firstenergycorp.com/sec-filings.
FES, its subsidiaries and FENOC made voluntary Chapter 11 filings under the United States Bankruptcy Code on March 31, 2018. FirstEnergy and its distribution, transmission, regulated generation and Allegheny Energy Supply subsidiaries were not part of the filing.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection; the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors, and the ability to successfully execute a definitive settlement agreement and obtain approvals from the Bankruptcy Court and others necessary for the comprehensive settlement as agreed to in principle; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organization structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals and Cross-State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K, and previous Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 19, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that Leslie M. Turner has been elected to the company's Board of Directors.
Turner, 60, retired earlier this year as senior vice president, general counsel & corporate secretary of The Hershey Company.
"Leslie's extensive experience as a high-level legal and policy advisor will be valuable to our company and its shareholders," said Donald T. Misheff, chairman of FirstEnergy's Board of Directors. "We welcome her to our board."
This election, which is effective today, brings the size of FirstEnergy's Board to 13 members.
Turner has more than 25 years of experience as an advisor to corporate and government leaders. Prior to joining Hershey as general counsel in 2012, she was general counsel of Coca-Cola North America from 2008 until 2012, and associate general counsel of the company's Bottling Investment Groups from 2006 to 2008.
Turner began her career at Akin Gump Strauss Hauer & Feld, LLP, where she rose to Partner. In addition, she served as the Assistant Secretary, Territorial & International Affairs at the U.S. Department of the Interior from 1993 to 1995, and as Counselor to Secretary, U.S. Department of Interior, from 1995 to 1996.
Turner has been a member of the Board of Advisors of Georgetown University Law Center since 2012, and of the Board of Trustees and Trustees Emeriti, Washington Lawyers' Committee for Civil Rights and Urban Affairs, since 1992. From 2008 until 2012 she was a member of the Board of Directors for the Georgia Appleseed Center for Law & Justice in Atlanta.
Turner holds a Bachelor of Science degree from New York University, a J.D. from Georgetown University Law Center, and a Master of Laws in Law and Government from American University, Washington College of Law.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: A photo of Turner is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection; the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors, and the ability to successfully execute a definitive settlement agreement and obtain approvals from the Bankruptcy Court and others necessary for the comprehensive settlement as agreed to in principle; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organization structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals and Cross-State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K, and previous Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 18, 2018 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable December 1, 2018, to shareholders of record at the close of business on November 7, 2018.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection; the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors, and the ability to successfully execute a definitive settlement agreement and obtain approvals from the Bankruptcy Court and others necessary for the comprehensive settlement as agreed to in principle; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organization structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals and Cross-State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K, and previous Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 11, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utility personnel are prepared to respond quickly should Hurricane Florence impact the areas where the company provides electric service.
Company meteorologists are tracking the storm system that is forecast to make landfall in the Carolinas later this week. The storm also could have secondary impacts, such as heavy rain and high winds, in areas served by all 10 FirstEnergy utilities, including: Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; Potomac Edison in Maryland and West Virginia; Jersey Central Power & Light (JCP&L) in New Jersey; and Ohio Edison, The Illuminating Company and Toledo Edison in Ohio.
The companies are reviewing storm response plans, which include staffing additional dispatchers, damage assessors and analysts at regional dispatch offices, and are making arrangements to bring in additional line, substation and forestry personnel, as needed, based on the severity of the weather. In addition, FirstEnergy has been in contact with contractors and electric industry mutual assistance organizations about the possibility of assisting with storm restoration efforts.
As part of the storm planning process, JCP&L and Met-Ed have secured additional line and substation personnel and are prepared to set up staging sites should they be needed. In addition, as the hurricane path becomes more certain, Ohio Edison, Toledo Edison and The Illuminating Company line workers could be in a position to provide support to the Potomac Edison and Mon Power areas in Maryland and West Virginia nearer the expected storm impact zone.
Company representatives also have been in contact with emergency management officials, state officials, regulators and local officials about Hurricane Florence preparation efforts.
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
FirstEnergy encourages customers to plan ahead for the possibility of electric service interruptions by following these tips:
Customer Generators
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions.
Connect with the companies online at www.firstenergycorp.com, on Twitter at @OhioEdison, @IlluminatingCo, @ToledoEdison, @Met_Ed, @Penelec, @Penn_Power, @W_Penn_Power, @MonPowerWV, or @PotomacEdison, or on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo, www.Facebook.com/MetEdElectric, www.Facebook.com/PenelecElectric, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.facebook.com/MonPowerWV, www.facebook.com/PotomacEdison.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 6, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is teaming with local community organizations to hold Energy Assistance Days where customers can sign up for special financial assistance programs to help pay their utility bills or energy efficiency programs that could reduce the amount of electricity they use.
The events will take place in Monmouth, Morris and Ocean counties beginning the second week of September and continue into October.
Representatives from JCP&L and several community agencies will be on hand to answer questions and help customers determine if they are eligible for financial assistance to pay a past-due utility bill, reduce future bills or to enroll in energy efficiency programs. In order to complete the required application on the day of the event, customers should bring their Social Security cards, proof of income for all household residents, deed or rental lease and a recent electric bill.
The Energy Assistance Day locations and dates include:
For additional information about energy assistance and conservation programs available for JCP&L customers visit www.firstenergycorp.com/billassistnj.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 4, 2018 /PRNewswire/ -- A transmission affiliate of FirstEnergy Corp. (NYSE: FE) is rebuilding and modernizing an existing 69-kilovolt (kV) power line to enhance service reliability for Ohio Edison customers in Lorain, Cuyahoga and Medina counties.
Rebuilding the wooden structures and installing new, higher-capacity conductor wires will reinforce the line against severe weather and help reduce outages on the transmission system. Fiber optic cable also will be added for enhanced network communications, allowing grid operators to react more quickly and effectively to disturbances on the system.
The line extends approximately 18 miles to connect electric substations near Elyria, Strongsville, Brunswick and Medina. Construction activities are mostly limited to the existing transmission corridor. In Medina, the company is working with local business owners to reconfigure a portion of the line to reduce its environmental impact, with new structures relocated along a railroad corridor in the downtown area.
"Modernizing older transmission lines produces immediate reliability benefits for customers by reducing the frequency and duration of power outages," said Carl Bridenbaugh, vice president, Transmission. "By rebuilding an existing line, we can enhance our ability to serve customers, better manage maintenance expenses, and minimize the project's impact on local communities and the environment."
The project is part of Energizing the Future, a multi-year investment initiative aimed at upgrading FirstEnergy's transmission facilities with advanced equipment and technologies that will reinforce the power grid and help reduce the frequency and duration of outages. Since launching these investments in 2014, FirstEnergy has achieved a 37 percent reduction in equipment-related transmission outages across its Ohio service area as well as the Penn Power territory in western Pennsylvania. The line will be rebuilt by American Transmission Systems, Incorporated, a FirstEnergy company.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 27, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that it has entered into a definitive settlement agreement in the Chapter 11 proceedings of FirstEnergy Solutions (FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), that would address all potential claims among the settling parties and other creditors of FES and FENOC.
The definitive agreement defines and quantifies all of FirstEnergy's obligations with respect to the FES and FENOC bankruptcies and allows FirstEnergy to turn its full focus toward the continued successful implementation of its regulated growth strategies.
The definitive settlement was signed by FirstEnergy, the Debtors, the Ad Hoc Noteholders Group, the Bruce Mansfield Certificateholders Group and the Unsecured Creditors Committee, and filed with the bankruptcy court in the FES Chapter 11 proceedings on August 26. The agreement is subject to the approval of the bankruptcy court. The terms of the agreement are materially consistent with the amended agreement in principle that was announced earlier this month.
The complete terms of the agreement are described in the court filing, available here, https://cases.primeclerk.com/fes/Home-DocketInfo?DockRelatedSearchValue=1224, and in a disclosure on Form 8-K, which is available at https://investors.firstenergycorp.com/sec-filings.
FES, its subsidiaries and FENOC made voluntary Chapter 11 filings under the United States Bankruptcy Code on March 31, 2018. FirstEnergy and its distribution, transmission, regulated generation and Allegheny Energy Supply subsidiaries were not part of the filing.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection; the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors, and the ability to successfully execute a definitive settlement agreement and obtain approvals from the Bankruptcy Court and others necessary for the comprehensive settlement as agreed to in principle; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organization structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals and Cross-State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K, and previous Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Aug. 24, 2018 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), today filed a comprehensive base rate case with the Public Service Commission of Maryland that contains new initiatives for the company to install more automated distribution equipment, replace additional aging underground electric cable, and trim trees more frequently to enhance service reliability for its 265,000 Maryland customers.
It is the first base rate case Potomac Edison has filed in Maryland in nearly 25 years.
Potomac Edison has invested hundreds of millions of dollars in recent years to trim trees and complete projects designed to enhance service reliability, grid flexibility and modernization, and those efforts have benefitted customers. Potomac Edison's Maryland customers experienced about 23 percent fewer outages in 2017 than they did in 2011, and when they experienced outages, those service interruptions were about 14 percent shorter in duration.
Potomac Edison's new rate plan offers enhanced programs designed to build further on those improvements to service reliability, including:
"Using good management and thoughtful planning over the years, we have enhanced service reliability for our customers while holding the line on rates," said James A. Sears, Jr., FirstEnergy's president of Maryland Operations. "We are committed to sustaining these efforts by offering new programs to trim trees more often and install smarter equipment on our lines and in our substations that can help continue to reduce the size, length and frequency of outages."
Potomac Edison has traditionally had the lowest rates of any investor-owned utility in Maryland. If approved, the new distribution rates would still be, on average, up to 60 percent lower than those charged today by other Maryland utilities. Additionally, customers will receive the benefit of the recent federal tax cut as over $7 million annually in tax savings will be used to offset the costs proposed in this plan.
If the plan is approved as proposed, monthly bills for the typical residential customer using 1,000 kilowatt-hours would increase by about $6.00 per month or about 6 percent. The proposed changes would raise the typical residential bill from $105 to $111.
Potomac Edison would expect to have the new rates go into effect in the first quarter of 2019. These changes would not impact Potomac Edison customers in West Virginia.
To help customers manage their bills, Potomac Edison offers an average payment plan, special payment plans, and access to energy assistance programs. For more information, visit FirstEnergy's website at www.firstenergycorp.com and click on Our Electric Companies section to choose Potomac Edison, or call the Customer Contact Center at 1-800-686-0011.
Potomac Edison's Maryland customers can also visit www.energysavemd.com to learn more about energy-efficiency products and programs to help save money.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 265,000 customers in seven Maryland counties and about 140,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Potomac Edison today filed a comprehensive base rate case with the Public Service Commission of Maryland that contains new initiatives for the company to install more automated distribution equipment, replace additional aging underground electric cable, and trim trees more frequently to enhance service reliability for its 265,000 Maryland customers. Photos showing similar work being done by Potomac Edison crews are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection; the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors, and the ability to successfully execute a definitive settlement agreement and obtain approvals from the Bankruptcy Court and others necessary for the comprehensive settlement as agreed to in principle; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organization structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals and Cross-State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K and previous Quarterly Report on Form 10-Q, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 31, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported second quarter 2018 GAAP earnings of $134 million, or $0.28 per basic and diluted share, on revenue of $2.7 billion. GAAP earnings during the second quarter of 2017 were $174 million, or $0.39 per basic and diluted share, on revenue of $2.6 billion. GAAP earnings for both periods include the impact of special items listed below.
Operating (non-GAAP) earnings* were $0.62 per share for the second quarter of 2018, compared with $0.44 per share in the second quarter of 2017.
"Our strong second quarter results exceed the top end of our guidance range," said Charles E. Jones, FirstEnergy president and chief executive officer. "This strong performance reflects benefits from weather, as well as the success of our customer-focused regulated growth initiatives."
FirstEnergy also announced that it has reached an amended settlement agreement in principle in the FirstEnergy Solutions' (FES) bankruptcy case to include both FES and the unsecured creditors' committee.
"This definitive, comprehensive settlement defines and quantifies all of FirstEnergy's obligations with respect to FES and FENOC, and is a very positive development as we move forward as a fully regulated company," Jones said.
Details of the settlement will be posted to the company's Investor Information website, www.firstenergycorp.com/ir, tomorrow morning, and discussed during the webcast with financial analysts.
FirstEnergy is updating its full-year 2018 GAAP earnings forecast range to $3.74 to $4.04 per share, and affirming its full-year operating (non-GAAP) earnings guidance range of $2.25 to $2.55 per share, as well as its three-year operating (non-GAAP) earnings growth rate projections.** In addition, the company is providing a forecast for third quarter GAAP earnings of $0.57 to $0.67 per share, and operating (non-GAAP) earnings guidance of $0.65 to $0.75 per share.
Second quarter 2018 earnings increased in the company's Regulated Distribution business as a result of higher weather-related usage and industrial deliveries, the impact of rate orders implemented during the quarter, lower expenses, and higher regulated commodity margin compared to the same period in 2017. These factors were slightly offset by higher depreciation and general taxes.
Cooling degree days in FirstEnergy's utility service area were 22 percent higher than in the same period of 2017, and 30 percent above normal. Heating degree days were 33 percent above the second quarter of 2017 and 5 percent above normal. The impact of weather resulted in a 4 percent increase in total distribution deliveries compared to the second quarter of 2017. This includes an 8.6 percent increase in residential sales and 1.6 percent increase in deliveries to commercial customers. Among industrial customers, usage increased for the eighth consecutive quarter, with a 2 percent increase primarily from the shale gas and steel sectors.
In the Regulated Transmission business, second quarter earnings benefited from the implementation of approved settlement rates at Jersey Central Power & Light and a higher rate base at the company's Mid-Atlantic Interstate Transmission (MAIT) and American Transmission Systems, Inc., (ATSI) subsidiaries.
In Corporate/Other, results for the second quarter of 2018 reflect the impact of slightly higher net financing costs and operating expenses. This was offset by higher commodity margin at the Pleasants Power Station, primarily resulting from higher market wholesale prices.
For the first six months of 2018, FirstEnergy's GAAP earnings were $1.4 billion, or $2.86 per basic share ($2.85 diluted) on revenue of $5.7 billion. This compares to GAAP earnings of $379 million or $0.86 per basic share ($0.85 diluted) in the first half of 2017, on revenue of $5.5 billion. Operating (non-GAAP) earnings for the first half of 2018 were $1.29 per share, compared to $0.96 per share in the first half of 2017.
Consolidated GAAP Earnings Per Share (EPS) to
|
|||||||||||||
Second Quarter |
Year-To-Date |
2018 Estimates |
|||||||||||
2018 |
2017 |
2018 |
2017 |
Third Quarter |
Full Year |
||||||||
Basic EPS (GAAP) |
$ 0.28 |
$ 0.39 |
$ 2.86 |
$ 0.86 |
$ 0.57 - $ 0.67 |
$ 3.74 - $4.04 |
|||||||
Excluding Special Items*: |
|||||||||||||
Regulatory charges |
(0.17) |
0.01 |
(0.16) |
0.03 |
0.01 |
(0.14) |
|||||||
Mark-to-market adjustments |
– |
– |
(0.01) |
– |
– |
(0.01) |
|||||||
Exit of competitive generation |
0.01 |
0.11 |
(1.88) |
0.22 |
– |
(1.87) |
|||||||
Debt redemption costs |
0.21 |
– |
0.21 |
– |
– |
0.21 |
|||||||
Tax reform |
0.02 |
– |
0.02 |
– |
– |
0.02 |
|||||||
Impact of full dilution to 538M shares |
0.27 |
(0.07) |
0.25 |
(0.15) |
0.07 |
0.30 |
|||||||
Total Special Items* |
0.34 |
0.05 |
(1.57) |
0.10 |
0.08 |
(1.49) |
|||||||
Operating (non-GAAP) EPS |
$ 0.62 |
$ 0.44 |
$ 1.29 |
$ 0.96 |
$0.65 - $0.75 |
$2.25 - $2.55 | |||||||
Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by number of shares outstanding assuming full impact of dilution from the $2.5 billion equity issuance in January 2018 (538M fully diluted shares). The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pretax amount if deductible/taxable. The income tax rates range from 21% to 29%, and 35% to 38% in the second quarter and first half of 2018 and 2017, respectively. |
|||||||||||||
Non-GAAP financial measures
*Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Operating earnings (loss) per share, a non-GAAP financial measure, is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented by 538 million shares, which reflects the full impact of share dilution from the equity issuance in January 2018. As of the first quarter 2018, Regulated operating (non-GAAP) earnings (loss), Regulated operating earnings (loss) per share, and Regulated operating earnings (loss) per share by segment, which were non-GAAP financial measures used in the guidance provided in February 2018, are now referred to as Operating earnings (loss), Operating earnings (loss) per share, and Operating earnings (loss) per share by segment, respectively. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities.
** The Company's management team cannot estimate on a forward-looking basis the impact of special items in the context of Operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, the Company is unable to reconcile Operating earnings (loss) per share growth projections to a GAAP measure without unreasonable effort.
Deconsolidation
As a result of the bankruptcy filings, FirstEnergy Solutions (FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC) were deconsolidated from FirstEnergy's consolidated financial statements as of March 31, 2018. Additionally, the operating results of FES and FENOC, as well as Bay Shore Power Company and a portion of AE Supply, LLC that are subject to completed asset sales, collectively representing substantially all of FirstEnergy's operations that comprised the Competitive Energy Services (CES) reportable operating segment, will be presented as discontinued operations in Corporate/Other. The remaining business activities that previously comprised the CES reportable operating segment were not material, and as such, have been combined into Corporate/Other for reporting purposes. The external segment reporting is consistent with the internal financial reports used by FirstEnergy's Chief Executive Officer (its chief operating decision maker) to regularly assess performance of the business and allocate resources. Disclosures for FirstEnergy's reportable operating segments for 2017, including the presentation of non-GAAP financial measures, have been revised to conform to the current presentation.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the second quarter and first half of the year, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on Second Quarter 2018 Consolidated Report to the Financial Community.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 9:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Second Quarter 2018 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements:
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have filed for bankruptcy protection; the potential for litigation and payment demands against FirstEnergy by FES, FENOC or their creditors, and the ability to successfully execute a definitive settlement agreement and obtain approvals from the Bankruptcy Court and others necessary for the comprehensive settlement as agreed to in principle; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs through FE Tomorrow, FirstEnergy's initiative launched in late 2016 to identify its optimal organization structure and properly align corporate costs and systems to efficiently support a fully regulated company going forward, and other initiatives, and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals and Cross-State Air Pollution Rule programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which risk factors supersede and replace the risk factors contained in the Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 31, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that Leila Vespoli, executive vice president, Corporate Strategy, Regulatory Affairs and chief legal officer, and James Pearson, executive vice president, Finance, have accepted FirstEnergy's Executive Early Retirement Program. Vespoli will retire effective April 1, 2019, and Pearson's retirement date is not expected to be later than April 1, 2019. In addition, Charles Lasky, senior vice president, Human Resources and chief human resources officer, will retire June 1, 2019.
"The contributions made by Leila, Jim and Charlie during their long careers with the company have been significant, particularly with mergers, acquisitions and growth," said FirstEnergy President and Chief Executive Officer Charles E. Jones. "Their strategic and thoughtful leadership has been greatly appreciated as the company and industry faced unprecedented changes over the last decade. On behalf of the entire organization, I thank them for all they have done to make FirstEnergy a top industry performer, rewarding place to work and solid investment for our shareholders."
Leila Vespoli
Vespoli began her career in 1984 as an associate attorney with Ohio Edison. After a series of promotions, she was appointed associate general counsel in 1997, named vice president and general counsel in 2000, senior vice president and general counsel in 2001, executive vice president and general counsel in 2008, and executive vice president, Markets, and chief legal officer in 2013. She was elected executive vice president, Corporate Strategy, Regulatory Affairs, and chief legal officer in 2016.
Vespoli graduated from Miami University with a Bachelor of Science degree in Business Economics and earned a Juris Doctor degree from the Case Western Reserve University School of Law. She completed the Massachusetts Institute of Technology (MIT) Reactor Technology Course for Utility Executives and attended the Northwestern University Kellogg School of Management's Director Development Program.
Vespoli serves on the boards of Playhouse Square and The University of Akron Foundation and chairs the FirstEnergy Foundation. She previously served on many other boards, including Summa Health, where she chaired the Compensation Committee and served on the health system's Audit & Compliance Committee.
James Pearson
Pearson joined FirstEnergy subsidiary Penn Power in 1976 as a member of the Accounting department. He was named director of Financial Reporting for Ohio Edison in 1992. In 2001, he was promoted to group controller for FirstEnergy Solutions and also served as group controller of the Strategic Planning and Operations Group before being named treasurer of FirstEnergy in 2005. Pearson became vice president and treasurer in 2006 and was elected senior vice president and chief financial officer in 2013. He was named to his current position of executive vice president, Finance in 2018.
Pearson received a Bachelor of Science degree in Accounting from Westminster College in New Wilmington, Pa. He has completed the MIT Reactor Technology Course for Utility Executives and the Harvard Business School's executive education program Driving Corporate Performance.
Pearson serves on the Greater Akron Musical Association Board of Trustees.
Charles Lasky
Lasky began his career with the company in 1986 as an engineer at the W.H. Sammis Plant in Stratton, Ohio. After serving in various engineering positions at Sammis and other generation locations, he was promoted to planning supervisor at the R.E. Burger Plant in Shadyside, Ohio, in 1992 and to Industrial Relations coordinator at the company's corporate offices in 1994. Lasky held several fossil operations and plant management positions before being named director of the Bruce Mansfield Plant in Shippingport, Pa., in 2001. He was promoted to vice president of Fossil Fleet Operation in 2004, named senior vice president, Human Resources in 2015, and senior vice president, Human Resources and chief human resource officer in 2018.
Lasky earned a Bachelor of Science degree in Mechanical Engineering from The University of Akron and is a graduate of the University of Michigan Business School Executive Program, University of Michigan Chief Human Resource Officer program and the MIT Reactor Technology Course for Utility Executives.
Lasky is a trustee for the Ohio Foundation of Independent Colleges (OFIC).
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of Vespoli, Pearson and Lasky are available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., July 16, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a FirstEnergy Corp. (NYSE: FE) subsidiary, recently named Alex Patton vice president of Operations. Previously, Patton was director, Operations Services, for Mon Power, a FirstEnergy subsidiary that provides electric service to about 385,000 customers in West Virginia.
In his new position, Patton is responsible for the operation and maintenance of JCP&L's transmission and distribution systems covering more than 3,200 square-miles of northern and central New Jersey, including line and substation operations, dispatching, engineering, meter reading, forestry and support service. He succeeds Mark Jones, who was recently named regional president of FirstEnergy's Toledo Edison subsidiary.
"Alex has extensive leadership and operational experience in the transmission and distribution areas of our business," said Jim Fakult, president of JCP&L. "His knowledge and skills are a welcome addition to the JCP&L leadership team and will help build on the results we have achieved delivering safe and reliable electric service to our customers."
Patton joined the company in 1987 as an engineer. He was named a supervisor in the Engineering department in 1996. In 1998, Patton became a general manager and worked on the distribution and transmission sides of the business for nearly 15 years. He was promoted to director, Operations Support, at Mon Power in 2012 and named director, Operations Services in 2013.
He earned a bachelor's degree in electrical engineering from West Virginia University.
JCP&L is a subsidiary of FirstEnergy Corp. JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., July 13, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) filed a four-year infrastructure plan today with the New Jersey Board of Public Utilities (BPU) aimed at enhancing the reliability and resiliency of its distribution system against severe weather and reducing the frequency and duration of power outages.
JCP&L Reliability Plus includes about $400 million in targeted investments above and beyond its regular annual investments to enhance JCP&L's service reliability and resiliency. The plan includes nearly 4,000 enhancements that will help the reliability and resiliency of overhead and underground distribution lines, as well as new equipment to reduce the frequency and duration of outages. It also outlines additional vegetation management to reduce the potential for tree damage, which is the primary cause of outages during severe storms in JCP&L's service area.
"The special focus of this program is to limit damage during severe weather events," said Jim Fakult, president of JCP&L. "The new equipment, along with enhanced vegetation management, builds on our ongoing efforts to ensure customer service reliability and resiliency."
Reliability Plus was created following a detailed analysis of JCP&L's distribution system, as well as lessons learned from the restoration efforts following recent severe weather events.
JCP&L expects the plan's economic benefit to customers and businesses from enhanced reliability and resiliency will be $1.9 billion over the estimated life of the equipment installed through the program. JCP&L estimates the initial increase on the monthly bill for an average residential customer would be about 25 cents.
Key JCP&L Reliability Plus projects include:
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have recently filed for bankruptcy protection; the potential for litigation and demands for payment against FirstEnergy by FES and FENOC or certain of their creditors; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which such risk factors supersede the risk factors contained in the Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, July 12, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that its Energizing the Future investment initiative is driving significant performance improvement in the company's electric transmission system. The program is aimed at modernizing the "electric superhighway" of the power grid, which carries energy across FirstEnergy's territory, often over long distances.
Since launching Energizing the Future in 2014, FirstEnergy has achieved a 37 percent reduction in equipment-related outages in its American Transmission Systems, Inc. (ATSI) zone, which includes high-voltage lines and substations serving the company's Ohio Edison, Cleveland Electric Illuminating and Toledo Edison utilities in Ohio, as well as Penn Power customers in western Pennsylvania.
FirstEnergy and its transmission companies expect to achieve similar results as the program expands eastward into the Met-Ed and Penelec service areas in Pennsylvania. A FirstEnergy transmission affiliate, Mid-Atlantic Interstate Transmission, LLC (MAIT), will build and own these facilities. FirstEnergy expects to invest more than $1 billion per year on transmission upgrades from 2018-2021.
"Energizing the Future is an essential part of our efforts to ensure customers benefit from a smarter, stronger and more secure power grid in the years ahead," said Carl Bridenbaugh, vice president, Transmission. "A robust transmission system – along with a modern, resilient distribution grid – is necessary to keep power flowing to customers around the clock and to mitigate the risk of a larger, extended outage."
Since 2014, FirstEnergy has completed 600-700 transmission projects per year focused on three areas of investment:
"The majority of the U.S. electric transmission system was built in the 1960s and 1970s, and significant upgrades are needed now and in the years ahead to modernize the system and enhance performance," Bridenbaugh said. "In the last few years, we've replaced or rebuilt more than 1,200 miles of transmission lines across our territory, and we have a rigorous process in place to identify projects that can reduce transmission outages and enhance reliability for customers."
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have recently filed for bankruptcy protection; the potential for litigation and demands for payment against FirstEnergy by FES and FENOC or certain of their creditors; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which such risk factors supersede the risk factors contained in the Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 12, 2018 /PRNewswire/ -- FirstEnergy's (NYSE: FE) electric utilities are leading the industry with the use of aerial drones to inspect the nests of protected birds of prey. The drones offer a fast and safe way to survey locations where the birds have started nesting on utility poles and other electric equipment, without disrupting the birds by having a line worker inspect the nest.
Birds of prey like ospreys and eagles often seek out tall structures, including electric transmission towers and poles to build their nests, which can measure up to three feet in width. These nesting habits often place the birds near energized electrical equipment – jeopardizing their well-being and potentially causing power outages. A typical bird nest inspection requires a line crew to go out to each nesting site to inspect the nest. This method is not only unsettling to the birds, but time consuming for the crews.
"We were initially concerned the drone would startle the birds, but they were more frightened by the people on the ground and didn't seem to notice the drone in the sky," said FirstEnergy's Amy Ruszala, an environmental scientist who was recently on-site for the first nest inspections. "I am excited we are among the first in the utility industry to use drones for nest inspections, and confident other utility companies will use our positive feedback and follow suit."
Because birds of prey are very territorial, FirstEnergy's FAA-licensed drone pilot maintained a 330-foot buffer between the drone and nests. The drone was able to capture high-resolution images inside of the nests, and the company's environmental support staff worked with line workers to determine the appropriate course of action based on the footage. FirstEnergy's drone pilots have completed seven osprey and eagle nest inspections and expect that number to increase significantly over the next year.
By using a drone, each nest inspection was completed within 15 minutes. If the drone observed a nest without eggs on a utility pole, a line worker in an aerial bucket truck confirmed it was empty and removed the nest. Specialized equipment was also installed to divert and discourage ospreys from nesting on the poles in the future. Disturbing or removing the nests can be a complicated task due to environmental regulations. In most cases, an active nest containing eggs cannot be disturbed.
"If a nest with eggs is situated on our equipment and poses a serious threat to the birds' safety and our service reliability, we will work with state wildlife officials to install a special nesting box to provide a safer home for the ospreys and eagles," Ruszala said.
Environmental scientists and utility leaders at FirstEnergy plan to team up with wildlife officials this fall and use the drone footage to identify and build new nesting platforms for the birds, far away from electrical equipment.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @OhioEdison, @ToledoEdison, @IlluminatingCo, @W_Penn_Power, @Penn_Power, @Penelec, @Met_Ed, @JCP_L, @PotomacEdison, @MonPowerWV.
Editor's Note: Photos of FirstEnergy's bird nest inspections using a drone are available for download on Flickr. A video featuring Ruszala and footage from the drone inspection can be found at http://bit.ly/FEbirdnest.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 7, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has again earned special electric industry recognition from the Edison Electric Institute (EEI) for its expertise in responding to emergency conditions.
FirstEnergy was honored with the "Emergency Assistance Award" as a result of sending more than 175 line workers, additional support personnel and nearly 100 vehicles in late October of 2017 to assist several New England utilities when the remnants of Tropical Storm Phillippe spawned hurricane-force winds and flooding that resulted in wide-spread power outages in Maine, Vermont, Rhode Island and New York. FirstEnergy personnel were part of an effort that ultimately helped restore electric service to more than one million customers who lost power during the autumn storm.
FirstEnergy also earned the "Emergency Recovery Award" for restoration efforts on behalf of its own customers following the devastating impact of Winter Storm Riley and Winter Storm Quinn in early March of this year causing outages for a total of more than 1.2 million FirstEnergy customers in New Jersey, Pennsylvania, Ohio and Maryland. The back-to-back nor'easters produced high winds and heavy, wet snow. Overall, FirstEnergy's restoration effort, with the majority of damage in New Jersey and eastern Pennsylvania, included nearly 1 million man-hours of work, with more than 1,300 poles, 400 miles of wire and 420 transformers being replaced.
"The dedicated crews from FirstEnergy are truly deserving of this recognition for their tremendous efforts to restore service in difficult conditions and to assist neighboring electric companies in times of need," said EEI President Tom Kuhn. "FirstEnergy's restoration efforts and its assistance during these powerful storms illustrate our industry's unwavering commitment to serving our customers and to providing mutual assistance."
"These awards mark the 24th and 25th time FirstEnergy employees have been recognized for the considerable skills they use to benefit our own customers, and those of other utilities, during emergencies," said Samuel Belcher, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "The multiple nor'easters were especially challenging because the heavy snow caused extensive tree damage, which made accessing damage locations difficult."
EEI presents awards twice annually to member companies to recognize extraordinary efforts to restore power or for assisting other electric companies after service disruptions caused by severe weather conditions and other natural events. Winners are chosen by a panel of judges following an international nomination process. The awards were presented June 5, 2018, during the EEI annual convention in San Diego.
EEI is the association that represents all U.S. investor-owned electric companies. Members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition, EEI has more than 60 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 6, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has announced several management promotions within its utility operations group that support delivery of reliable, affordable electricity to customers.
Jim Haney has been promoted to vice president, Utility Operations. In addition to his new responsibilities overseeing the operations and safety programs for FirstEnergy's 10 utility operating companies, he will maintain responsibility for regulated generation, environmental and utility services. Haney replaces Mark Julian, who retired after 38 years with the company.
Reporting to Haney is George Farah, named vice president, Sustainability and Utility Services. Farah will oversee corporate sustainability and environmental programs as well as regulated generation services including dispatch, fuels, commercial operations, engineering, field services and operations support.
Bob Mattiuz replaces Haney as vice president, Compliance and Regulated Services and chief Federal Energy Regulatory Commission (FERC) compliance officer. He will manage FERC and regional transmission organization technical support, regulatory compliance and regulated commodity sourcing and settlements while reporting to Senior Vice President and President, FirstEnergy Utilities Sam Belcher.
Regional Utility Promotions
Rich Sweeney has been named regional president, Ohio Edison and Penn Power, managing the day-to-day operations of the two utilities that serve more than 1.1 million customers in northeast and north central Ohio and western Pennsylvania. He replaces Randy Frame, who was named executive director, Emerging Technologies Program. Mark Jones has been promoted to regional president, Toledo Edison, replacing Sweeney and overseeing utility service to more than 300,000 customers in northwest Ohio. Sweeney and Jones report to Jon Taylor, president, Ohio Operations.
In addition, Lorna Wisham has been named to the new position of vice president, Community Outreach and Support for The Illuminating Company. In this role, she will work with local officials in Cleveland, Ohio, the largest city served by the company, and report to John Skory, regional president of The Illuminating Company.
Biographical Information
Haney joined FirstEnergy in 1978 as an engineer. He has held numerous leadership roles in transmission projects, customer operations, transmission and distribution and West Virginia operations. Haney holds a Bachelor of Science in electrical engineering from West Virginia University.
Farah began his career in 1986 as an engineer at Allegheny Energy, which merged with FirstEnergy in 2011. He has held several generating plant operation and engineering positions over the years as well as leadership positions in project management, construction and human resources. Farah earned a Bachelor of Science in mechanical engineering from the University of Pittsburgh and a Master of Business Administration from Indiana University of Pennsylvania.
Mattiuz joined the company at West Penn Power in 1984 as a distribution planning engineer. Over the years, he held management positions in transmission and distribution engineering, planning and operations and federal and state regulatory compliance. He earned a Bachelor of Science in electrical engineering from Pennsylvania State University and a Master of Science in industrial administration from Carnegie Mellon University.
Sweeney joined the company's Information Technology department in 1999 as a programmer analyst. He held leadership roles in supply chain and operations for Ohio Edison and Toledo Edison before being named regional president of Toledo Edison in 2015. Sweeney earned a Bachelor of Arts and master's degree in German and a Master of Business Administration in finance from Kent State University.
Jones joined FirstEnergy in 1999 as a customer support representative. Most recently, he served as vice president, Operations for Jersey Central Power & Light (JCP&L). Over his career, he has held management positions in national accounts and customer service as well as in external affairs for JCP&L. Jones earned a degree in technology from Kent State University.
Wisham began her career with the company in 2005 as regional vice president, External Relations for The Illuminating Company. She most recently served as senior advisor, Federal Affairs in Washington, D.C. Prior to FirstEnergy, Wisham held marketing and public affairs leadership roles with The Downtown Cleveland Partnership and City of Cleveland. She earned a Bachelor of Arts in business and organizational communication from The University of Akron and a master's degree in public communication from American University, Washington, D.C.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the new leaders are available on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 6, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has announced leadership promotions designed to help integrate new technologies supporting growth in the company's transmission and distribution business.
Mark Mroczynski, formerly executive director, Transmission Programs, has been promoted to vice president, Construction and Design Services. In this position, he will oversee project management, transmission and substation design, and construction activities related to the company's "Energizing the Future" transmission expansion effort and its emerging technologies initiative.
Reporting to Mroczynski are Bill Boyd, who has been named executive director, Transmission Programs, and Randy Frame, named executive director, Emerging Technologies Program. Frame will work together with Meghan Beringer, promoted to executive director, Emerging Technologies Strategy, to guide the company's efforts for strategic planning and implementation of advanced technologies. Beringer reports to Senior Vice President, Strategy Gary Benz.
Biographical Information
Mroczynski began his career at FirstEnergy in 2004 as supervisor of Technical Services for the Bruce Mansfield Power Plant. He has held leadership positions with fossil generation, transmission programs and operations support for Ohio Edison and Penn Power. Mroczynski earned a Bachelor of Science in mechanical engineering from The University of Akron and a Master of Business Administration from Kent State University.
Frame joined the company in 1982 as an engineering assistant at Ohio Edison. He has held a number of management positions in sales, energy delivery, supply chain and Toledo Edison. Most recently, he served as regional president of Ohio Edison. He earned an associate degree and a Bachelor of Science in electrical engineering technology from The University of Akron.
Beringer joined FirstEnergy's Business Analytics group in 2008. She has held management positions in the company's supply chain group and most recently served as director, Investor Relations. Beringer earned a Bachelor of Science in finance from The University of Dayton and a Juris Doctorate from Northern Kentucky University's Salmon P. Chase College of Law.
Boyd has worked for the company since 1982, when he began at the Perry Nuclear Power Plant. He held several transmission and distribution engineering positions before holding leadership positions in energy delivery asset management, project management, and vegetation management. Most recently, he was vice president, Asset Management. Boyd earned a Bachelor of Science in engineering from Cleveland State University.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the new leaders are available on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, June 5, 2018 /PRNewswire/ -- FirstEnergy (NYSE: FE) is launching a new website, www.FEretirees.com, as a resource for company retirees and alumni. The site was created to help former employees maintain close ties to FirstEnergy by keeping them updated and informed.
"Our retirees worked many years for FirstEnergy and its predecessor utilities, and many still hold happy memories and strong bonds with former coworkers," said Gretchan Sekulich, FirstEnergy's vice president, Communications and Branding. "This new site is designed to support and strengthen the good will between current and former employees."
The website features company news, employee profiles, a regularly updated list of recent retirees, and resources such as benefit and contact information. Visitors can also access company merchandise, discounts, and Smartmart by FirstEnergy, the company's e-commerce website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., May 31, 2018 /PRNewswire/ -- Potomac Edison customers in Maryland can receive an Energy Conservation Kit, which includes information about saving energy and a variety of energy-efficient items that can be easily installed in the home to save on lighting, heating and cooling, water or other energy-related costs.
Kits are available for no fee and include energy-efficient LED light bulbs, LED nightlights, a furnace filter whistle and other valuable energy-saving components. Customers with electric water heaters may be eligible to receive additional water-saving products, such as a low-flow showerhead or faucet aerator. Visit www.MDenergykit.com or call 1-888-681-5285 to request a kit. Customers will need their utility account number to request a kit.
"The Energy Conservation Kit makes saving energy at home easier and more affordable," said Wade Williams, manager of residential energy efficiency programs for FirstEnergy's utilities. "With valuable energy-saving tips and equipment, the kit provides additional tools to help our customers manage their electricity use and make simple improvements to save energy throughout the home."
For information about other energy efficiency programs offered to Potomac Edison customers in Maryland, visit www.energysaveMD.com.
FirstEnergy Corp. (NYSE: FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
EmPOWER Maryland programs are funded by a charge on customer electric bills. EmPOWER programs can help customers reduce electricity consumption and save money. Go to www.energysaveMD.com to learn more about EmPOWER and how to participate.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., May 16, 2018 /PRNewswire/ -- Service has been restored to more than 65,000 Jersey Central Power & Light (JCP&L) customers who lost power following the damaging thunderstorms that produced wind gusts approaching 70 mph as it blew across the Mid-Atlantic region late yesterday.
Currently, approximately 38,000 customers remain out of service, mostly in the hardest hit areas of Morris, Passaic, Sussex, and Warren counties. JCP&L expects the vast majority of the remaining customers to be restored to service by late Thursday, with many people in the affected areas getting their power back on sooner. Those customers experiencing more severe damage will be restored Friday.
The restoration effort includes about 1,400 JCP&L linemen, electrical contractors, FirstEnergy utility personnel, damage assessors, hazard responders, forestry supervisors, and dispatchers that are on the ground or en route. Crews are addressing safety hazards and road closures while making progress restoring customers.
"JCP&L personnel and contractors are prepared to work around the clock to restore customers who lost power following the damaging thunderstorms that impacted northern New Jersey late yesterday," said Jim Fakult, president of JCP&L. "The severe winds resulted in significant tree-related damage to our system, including broken poles and downed wires that will need to be replaced. Our restoration times reflect this wide-spread damage and also the hundreds of single outages that will require crews to travel to each individual location to make repairs."
As part of its storm restoration process, JCP&L has taken the following steps:
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems, even at this latter stage in the restoration process.
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 15, 2018 /PRNewswire/ -- FirstEnergy (NYSE: FE) President and Chief Executive Officer Charles E. Jones told shareholders today the company is taking aggressive steps to make its regulated energy delivery system smarter and more resilient in the years ahead.
Speaking to shareholders gathered for FirstEnergy's annual meeting, Jones said the theme of this year's event, "Building a Brighter Future," reflects the company's mission statement and captures the spirit of what it hopes to accomplish. Earlier this year, FirstEnergy announced plans to spend more than $10 billion in capital investments throughout its transmission and distribution system over the next three years. These investments are expected to support a projected annual operating earnings (non-GAAP) growth rate of 6 to 8 percent in FirstEnergy's regulated businesses through 2021*.
More important, Jones said, the investments will fund a number of improvements designed to make the company's electric system more secure and responsive to the growing energy needs of customers.
"Through our multibillion-dollar Energizing the Future initiative, we're keeping pace with customer demand for electricity by upgrading and modernizing our transmission system," Jones said. "We plan to invest up to $4.8 billion from 2018 through 2021 on these improvements – including nearly 1,200 smart grid projects that are designed to make our system more robust, secure and resistant to extreme weather events. Many of these projects take advantage of new technologies that minimize the threat of physical and cyberattacks. All of them are important to providing customers with the power they need, when they need it."
Jones said FirstEnergy's transition to becoming a fully regulated company – one that's better positioned to provide enhanced service to customers while delivering stable, long-term value to shareholders – was accelerated by the recent Chapter 11 filings of FirstEnergy Solutions, its subsidiaries and FirstEnergy Nuclear Operating Company. The Chapter 11 filings did not include FirstEnergy or its distribution, transmission, regulated generation or Allegheny Energy Supply subsidiaries.
"I'm confident that FirstEnergy will emerge from this process even stronger – with the resources we need to deliver greater value to shareholders and provide customers with the safe, reliable and affordable service they expect and deserve," Jones said.
A transcript of Jones' prepared remarks can be found here.
Preliminary Voting Results
FirstEnergy also announced preliminary voting results from its 2018 Annual Meeting. Shareholders reelected each of the 12 nominees to the company's Board of Directors and ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm. On an advisory basis, shareholders also approved named executive officer compensation.
Based on preliminary results, the management proposals to amend the company's governing documents to replace existing supermajority voting requirements with a majority voting power threshold, implement majority voting for uncontested director elections and implement proxy access each failed to receive the requisite vote.
A non-binding shareholder proposal requesting a reduction in the threshold to call special shareholder meetings also failed to receive the requisite vote.
All preliminary voting results are subject to final certification.
The following directors were elected to one-year terms:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
*FirstEnergy's management team cannot estimate on a forward-looking basis the impact of special items in the context of operating earnings (loss) per share growth projections because special items, which could be significant, are difficult to predict and may be highly variable. Consequently, FirstEnergy is unable to reconcile operating earnings (loss) per share growth projections to a GAAP measure without reasonable effort.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have recently filed for bankruptcy protection; the potential for litigation and demands for payment against FirstEnergy by FES and FENOC or certain of their creditors; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC, including but not limited to the most recent Quarterly Report on Form 10-Q, which such risk factors supersede the risk factors contained in the Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., May 11, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) will host a networking and information session sponsored by the New Jersey Supplier Diversity Development Council (SDDC) on Tuesday, May 15, at 9:00 a.m. at its Holmdel office, located in the Bell Works Building, 101 Crawfords Corner Road, in Holmdel. The event is free of charge and will feature a panel of experts that will discuss how veteran-owned companies can do businesses with New Jersey utilities.
Topics covered in the SDDC's Building a Network for Success program include:
The panelists include:
JCP&L President Jim Fakult will provide welcoming remarks and Justin Constantine, CEO, The Constantine Group, will be the motivational speaker. The panel discussion will be followed by an informational exhibit for business owners and New Jersey utility companies.
For additional information visit http://www.njbpusupplierdiversity.com/. To register for the conference visit http://www.planetreg.com/E32791842178968.
The SDDC is dedicated to effective working relationships among minority, women and service disabled veteran owned businesses, New Jersey public utilities and the New Jersey Board of Public Utilities.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-to-host-supplier-diversity-program-for-veterans-300647004.html
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., May 10, 2018 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is continuing the fourth year of a multi-year enhanced tree trimming program designed to help enhance service reliability.
The work helps to maintain proper clearances around electrical equipment, which can reduce the frequency and duration of power outages, especially those associated with severe weather such as the numerous storms experienced this past winter.
Since the beginning of the year, tree contractors have trimmed more than 1,000 miles of distribution and transmission lines in the Mon Power area as part of the company's approximately $71 million vegetation management program for 2018, with an additional 3,500 miles expected to be completed by year end.
Launched in mid-2014, the enhanced tree trimming program focuses on trimming trees near distribution lines in rural areas and along transmission lines to enhance service reliability. The enhanced program involves trimming trees ground to sky, which helps reduce the risk of overhanging limbs getting into electrical equipment and causing outages.
Mon Power's tree program in 2018 includes about $2 million to proactively remove more than 7,000 deteriorated ash trees damaged by the emerald ash borer along larger distribution lines and lines located near electric substations.
"Four years into our enhanced vegetation management program, our customers are experiencing fewer tree-related outages as we have trimmed more than 2 million trees along more than 16,000 miles of electric lines to the new ground-to-sky standards," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "We continue to see immediate results in the areas where we trim to the new specifications. On average, we see a 34 percent reduction in the number of tree-related outage minutes for our customers the year after we perform our work."
The initial cycle length for tree work under the enhanced program is five years, ending in 2019. From that point forward, trees will be trimmed on a four-year cycle.
Mon Power will conduct tree trimming in or near the following counties and communities before the end of the year:
Forestry crews use hand-operated tools, saws, mowers, aerial helicopter saws and EPA-approved herbicide applications to trim trees and maintain vegetation along FirstEnergy's distribution and transmission networks. Clearing incompatible vegetation under power lines results in easier access for company personnel to inspect and maintain lines and make repairs sooner if an outage occurs.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/mon-powers-2018-tree-trimming-program-underway-300646587.html
SOURCE FirstEnergy Corp.
READING, Pa., May 10, 2018 /PRNewswire/ -- Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its Pennsylvania service areas as part of its ongoing efforts to help enhance customer reliability.
The work helps to maintain proper clearances around electrical equipment, which can reduce the frequency and duration of power outages, especially those associated with severe weather such as the numerous storms experienced this past winter.
Since the beginning of the year, tree contractors have trimmed nearly 800 miles of distribution and transmission lines in the Penelec area as part of the company's $37 million vegetation management program for 2018, with an additional 3,200 miles expected to be completed by year end.
The tree trimming work in 2018 includes about $5 million to continue a special five-year program that was implemented in 2015 to remove dead and dying ash trees affected by the Emerald Ash Borer before they can cause damage to Penelec's electrical system. The company expects to proactively remove approximately 45,000 affected ash trees by the end of the year. Over five years, the ash tree removal program will cover about 18,000 miles of power line rights-of-way in the Penelec service area, with the expected removal of more than 200,000 affected ash trees.
"Penelec is committed to enhancing customer service reliability and our vegetation management program is one of the most important things we do every year to help maintain our electric system," said Scott Wyman, regional president, Penelec. "This work pays dividends year-round in fewer service disruptions, particularly during severe storms that cause tremendous damage to trees, which then can damage our equipment."
The vegetation management work is conducted by qualified contractors, including Asplundh Tree Expert Company, Davey Tree Expert Company, PennLine Service, Hazlett Tree Service, Townsend Tree Service, Lewis Tree Service, and Treesmiths.
As part of its notification process, Penelec works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
During the next several months, Penelec will be conducting tree trimming along transmission and distribution circuits in the following locations: Altoona, Athens, Bedford, Blain, Brookville, Canton, Clearfield, Dubois, Ebensburg, Eldred, Erie, Farmers Valley, Franklin, Harborcreek, Hollidaysburg, Honey Grove, Johnstown, Knox, Laurel Lake, Lenox, Lewistown, Mansfield, Meadville, Meyersdale, Northeast, Oil City, Philipsburg, Reedsville, Saegertown, Salix, Tidioute, Tionesta, Tunkhannock, Union City, Waterford, and Warren.
The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., May 10, 2018 /PRNewswire/ -- West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its 24-county Pennsylvania service area as part of its ongoing efforts to help enhance service reliability.
The work helps to maintain proper clearances around electrical equipment, which can reduce the frequency and duration of power outages, especially those associated with severe weather such as the numerous storms experienced this past winter.
Since the beginning of the year, tree contractors have trimmed more than 1,200 circuit miles of electric lines in the West Penn Power service area as part of the nearly $48.6 million vegetation management program for 2018, with an additional 3,900 miles expected to be completed by year end.
"The tree trimming we have done over the past several years is making a positive difference in keeping the lights on for our customers and restoring service in the wake of severe weather," said David W. McDonald, president of West Penn Power. "We have ramped up our efforts to proactively remove tens of thousands of deteriorated ash trees bordering our electric distribution lines that have been affected by the Emerald Ash Borer. Harsh winter storms further damaged these trees, and we want to remove as many as possible to protect our system before summer thunderstorms arrive."
West Penn Power's tree program in 2018 includes about $7.5 million to remove more than 68,000 ash trees along distribution lines in western Pennsylvania. As of early April, more than 13,000 ash trees had been removed.
During the upcoming months, West Penn Power will be conducting tree trimming work in the following counties and communities:
Tree trimming is done on a five-year cycle. The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
As part of its notification process, West Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company, Jaflo Inc., Lewis Tree Service Inc., Penn Line Service Inc., and Davey Tree Expert Company.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 10, 2018 /PRNewswire/ -- The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming work in communities across its northeast Ohio service area to help enhance customer reliability.
The work helps to maintain proper clearances around electrical equipment, which can reduce the frequency and duration of power outages, especially those associated with severe weather such as the numerous storms experienced this past winter.
Nearly $18 million will be spent this year on vegetation management work along approximately 2,100 miles of distribution and transmission lines in The Illuminating Company service area this year.
Tree trimming will be conducted in the following communities: Ashtabula, Austinburg Township, Bedford Heights, Berea, Cleveland, Independence, Lakewood, Maple Heights, Middleburg Heights, North Royalton, Painesville, Painesville Township, Parma, Perry Village, Perry Township, Rocky River, Russell Township, Seven Hills, Solon, Warrensville Heights, Wickliffe, Willoughby, Willoughby Hills, and Willowick.
"Tree trimming is a key component in our efforts to enhance customer service reliability," said John Skory, regional president, The Illuminating Company. "In continuing this successful program, our goal is to reduce service interruptions by protecting our wires and other infrastructure from tree-related damage."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company; Davey Tree Expert Company; PennLine Services; and Townsend Tree Service.
As part of its notification process, The Illuminating Company works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The tree trimming is done on a four-year cycle. The program includes inspecting vegetation near power lines to ensure the trees are pruned in a manner that helps preserve the health of the tree while also maintaining safety near electric facilities. Trees that are considered to present a danger or are diseased may be removed.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 10, 2018 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is conducting tree trimming and other vegetation management work in communities across its 34-county service area in Ohio to help enhance customer reliability. The work helps to maintain proper clearances around electrical equipment, which can reduce the frequency and duration of power outages, especially those associated with severe weather such as the numerous storms experienced this past winter.
Since the beginning of the year, tree contractors have trimmed more than 1,000 circuit miles of electric lines in the Ohio Edison service area as part of a $29 million vegetation management program for 2018, with an additional 4,600 miles expected to be completed by year end.
"Tree trimming is some of the most important and effective work we do every year to help maintain our electric system," said Randall A. Frame, regional president, Ohio Edison. "This work pays dividends year-round in fewer service disruptions, particularly during severe storms that can do tremendous damage to trees, which then have the potential to damage our equipment."
Tree trimming will be conducted in the following counties and communities throughout the year:
The tree trimming is done on a four-year cycle. The program includes inspecting vegetation near the lines to ensure the trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased may be removed.
As part of its notification process, Ohio Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company; Davey Tree Expert Company; Nelson Tree Service Inc.; PennLine Service, Townsend Tree Service; and Wright Tree Service.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/ohio-edisons-2018-tree-trimming-program-underway-300646580.html
SOURCE FirstEnergy Corp.
READING, Pa., May 10, 2018 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its service area in Pennsylvania as part of its ongoing efforts to help enhance service reliability.
The work helps to maintain proper clearances around electrical equipment, which can reduce the frequency and duration of power outages, especially those associated with severe weather such as the numerous storms experienced this past winter.
Since the beginning of the year, tree contractors have trimmed along more than 555 miles of distribution and transmission lines in the Met-Ed area as part of the company's more than $28 million vegetation management program for 2018, with an additional 3,100 miles expected to be completed by year end.
"Tree trimming is some of the most important and effective work we do every year to help maintain our electric system," said Ed Shuttleworth, regional president, Met-Ed. "The vegetation management work we have done over the past several years continues to make a positive difference in reducing the number of outages our customers might experience due to tree-related damage."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Aerial Solutions, Asplundh Tree Expert Company, Davey Tree Expert Company, Jaflo Tree Service, Lewis Tree Service, Nelson Tree Service Inc., Rotor Blade, Treesmiths and York Tree Service Inc.
During the upcoming months, Met-Ed will be conducting tree trimming work in the following locations: Easton, Gettysburg, Hamburg, Hanover, Lebanon, Reading, Stroudsburg, York and surrounding areas, and Upper Bucks County.
The work includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 7, 2018 /PRNewswire/ -- A subsidiary of FirstEnergy Corp. (NYSE: FE) will energize a new 138-kilovolt transmission line and substation later this month to enhance service reliability for Ohio Edison and Toledo Edison customers across northern Ohio.
The project includes a new transmission line that extends about 28 miles between existing substations in Erie and Sandusky counties. The line will also connect a new substation under construction near Bellevue, Ohio, giving grid operators added flexibility to help reduce the frequency and duration of power outages.
Line construction began late last year after a FirstEnergy subsidiary, American Transmission Systems, Inc., (ATSI) obtained approval to build the project from the Ohio Power Siting Board. The new facilities are on schedule to be energized ahead of a May 31 in-service deadline.
"In recent years, a number of older power plants have closed across our region while new sources of energy are being connected to the grid," said Carl Bridenbaugh, vice president, Transmission. "This changing energy mix often requires new transmission lines to be built that can maintain service reliability and supply power from where it is generated to where it is needed. The route selected for this project will allow us to deliver clean and affordable energy to the region, while minimizing the project's impact on communities and the environment."
The project, which costs more than $50 million, is part of Energizing the Future, a multi-year investment initiative aimed at upgrading FirstEnergy's transmission facilities with advanced equipment and technologies that will reinforce the power grid and help reduce the frequency and duration of customer outages. Since 2014, FirstEnergy's transmission companies have upgraded or replaced existing transmission lines, incorporated new, smart technology into the grid, and outfitted dozens of substations with new equipment and enhanced security features. These upgrades are producing reliability improvements across the company's transmission system.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Construction photos are available for download on Flickr.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., May 3, 2018 /PRNewswire/ -- Potomac Edison customers in Maryland can now get even more money back for recycling their old refrigerators and freezers. The incentive has been increased from $50 to $75 for each appliance recycled through July. Customers who also recycle a working room air conditioner or dehumidifier along with a refrigerator or freezer will receive an additional $25.
Customers can participate by visiting www.energysaveMD.com or calling 888-277-0528 to arrange a home pickup. The $75 incentive applies to pickup requests made between May 1 and July 31, 2018. This gives customers an opportunity to easily make some extra money while reducing household energy use.
"The appliance recycling program is an effective way for customers to save energy and money," said Wade Williams, manager of residential energy efficiency programs for FirstEnergy's utilities. "Removing an outdated refrigerator can save up to $150 a year in energy costs. This program provides our customers with a convenient, safe and responsible way to get rid of older appliances and reduce energy consumption, while also getting a $75 incentive."
Units will be picked up by ARCA Recycling, Inc., offering state-of-the-art appliance recycling services designed to guarantee that every appliance collected through energy efficiency programs is fully and properly disassembled. This includes ensuring all hazardous materials and components are removed, stored, transported and disposed of in a responsible manner in accordance with federal, state and local rules and regulations.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, May 2, 2018 /PRNewswire/ -- To help put more electric vehicles on the road and reduce air pollution, FirstEnergy (NYSE: FE) customers can use special incentives from Nissan and BMW that could save thousands of dollars on the purchase of certain all-electric vehicle models.
In addition to the manufacturer incentives, the purchaser could also qualify for up to $7,500 in federal electric vehicle tax credits. FirstEnergy customers can use the special offers to buy cars off the lot or by ordering a vehicle.
Nissan is offering FirstEnergy utility customers in Ohio, New Jersey, Pennsylvania, Maryland and West Virginia a $3,000 rebate off the Manufacturer's Suggested Retail Price (MSRP) on the 2018 LEAF. Depending on the model, the list price for the Nissan LEAF ranges from about $30,000 to $36,000. The special rebate offer is available from Nissan North America Inc., through June 30, 2018, or while supplies last. To qualify for the savings, customers should show their FirstEnergy utility bill to participating Nissan dealerships that are listed at https://www.nissanusa.com/nissandealers/.
BMW is offering FirstEnergy's customers in New Jersey and Maryland a $10,000 incentive toward the purchase of a new all-electric BMW i3 or BMW i3s that is applied to the best negotiated purchase price. The starting MSRP for the BMW i3 models begin at $44,5000. To redeem the incentive, customers just need to show their Jersey Central Power & Light (JCP&L) or Potomac Edison bill to their local BMW dealership in New Jersey and Maryland and bring a completed Potomac Edison Customer Form click here or JCP&L Customer Information Form click here. Authorized BMW dealers can be found at www.bmwusa.com/dealerlocator. The special BMW incentive is available through July 31, 2018. Dealer in-stock inventory may sell out sooner.
"Electric vehicles are becoming more popular as people recognize the environmental and sustainability benefits they offer," said Mark Julian, vice president, Utility Operations, FirstEnergy. "These types of rebates offer an incentive for those customers who want to support this environmentally friendly technology."
In addition to the rebate and federal electric vehicle tax credits, Potomac Edison customers could be eligible for a one-time Maryland excise tax credit, up to $3,000 for purchasing a qualifying plug-in electric vehicle. JCP&L customers also could be eligible for the New Jersey Sales and Use Tax Act that provides a tax exemption for the purchase of qualified zero-emission vehicles.
The advantages of driving an all-electric vehicle include:
To make charging the electric vehicle convenient at home, FirstEnergy customers also can lease an Electric Vehicle Charger from FirstEnergy's Products Group. For information go to https://www.firstenergycorp.com/home-products-and-services/ev-charger.html. This pilot offer has limited availability as FirstEnergy works to expand the network of contractors qualified to install these chargers. The offer currently is available for FirstEnergy customers in Maryland, Ohio and West Virginia.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the all-electric Nissan LEAF and BMW i3 that qualify for special incentives for FirstEnergy customers are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/all-electric-vehicle-incentives-available-for-firstenergy-customers-300641235.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 2, 2018 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) 15,000 employees raised more than $470,000 and contributed approximately 28 tons of food as part of the company's 2018 Harvest for Hunger campaign. Creative luncheons, sporting events, bake sales and silent auctions were some of the employee activities that resulted in the equivalent of more than 3.3 million meals being donated to food banks, hunger centers and other charities across six states where employees live and work.
"Our employees once again showed their generosity and compassion as they continue to address the need for food assistance across our service areas," said Dee Lowery, president of the FirstEnergy Foundation. "By using friendly competitions across our business groups and various company locations, employees are able to help stock the cupboards of food banks and other charitable organizations throughout Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York."
Since 2001, company employees have raised more than $5 million and donated more than 1.3 million pounds of food, totaling nearly 37 million meals.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 30, 2018 /PRNewswire/ -- FirstEnergy Solutions (FES), a competitive generation subsidiary of FirstEnergy Corp. (NYSE: FE), today responded to a reliability study issued by PJM Interconnection, the regional transmission organization. The study was undertaken following FES's March 28, 2018, notification that it would deactivate its three nuclear plants, two in Ohio and one in Pennsylvania, over the next three years.
As it signaled in public statements following the FES notification, PJM said it does not expect the plant deactivations to adversely affect the reliability of its transmission system. What was new in the study was PJM's revelation that to maintain reliability, it must carry out "a combination of remedial measures" to prevent overloads of transformers and transmission lines and other strains on its system associated with the withdrawal of the FES plants from service.
Don Moul, president of FES Generation Companies and chief nuclear officer, issued the following statement:
"PJM's reliability finding was not a surprise, but it was a disappointment. The results of the PJM reliability study highlight that their review ignores the value that these units offer the grid in terms of fuel diversity and zero-carbon emissions generation. The 4,048 megawatts of capacity that these plants provide amounts to 14 percent of Ohio's overall generation capacity and 7 percent of Pennsylvania's overall generation capacity. That gap will have to be filled overwhelmingly by carbon-fueled generation.
"PJM did not provide a dollar estimate for the upgrades its system will need to cope with the loss of our units, but those remediation costs will be passed along to Ohio and Pennsylvania consumers in the form of higher electricity bills.
"We again call on legislative and regulatory officials to work with us on policy solutions to enable our plants to continue to play their critical role in the reliability, fuel-diversity and resilience of our regional grid. When calculating the cost of operating relief for our units, we ask policy makers to do all the math: Factor in the value of zero-carbon emissions for so great a portion of Ohio and Pennsylvania's generation needs, factor in the contributions that our facilities and their employees make to local and regional economies, and factor in the cost of the PJM upgrades that consumers must bear if our capacity is retired.
"In mid-2019, we will begin facing decisions on each of these plants as to whether to refuel them or shut them down. Without operating relief, they will be permanently lost."
The retirement schedule of the nuclear plants is as follows:
The closure of the plants will affect about 2,300 plant employees.
FES, its subsidiaries and FirstEnergy Nuclear Operating Company on March 31, 2018, filed petitions under Chapter 11 of the Federal Bankruptcy Code in order to facilitate an orderly financial restructuring. The case is proceeding in U.S. Bankruptcy Court for the Northern District of Ohio, in Akron.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors.
Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
(022018)
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SOURCE FirstEnergy Solutions
AKRON, Ohio, April 26, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has named Samuel Pierre-Louis vice president, Information Technology, effective May 14, 2018. In this role, Pierre-Louis is responsible for the strategic planning and day-to-day management of FirstEnergy's information technology (IT) organization, including security, infrastructure, business system software and hardware, network engineering and operations.
"With more than 20 years' experience in information technology services, strategic planning and organizational management, Sam is an excellent addition to FirstEnergy's IT leadership team," said Bennett Gaines, senior vice president, Corporate Services and chief information officer for FirstEnergy. "His knowledge of technology infrastructure and strong background in security will help ensure the company's information systems remain robust and secure."
Pierre-Louis joins FirstEnergy from Providence St. Joseph Health in Irvine, Ca., where he was vice president, chief information security officer. He also has served as technology director and chief information security officer at University of Texas M.D. Anderson Cancer Center and as an information security consultant at IBM Internet Security Systems.
Pierre-Louis holds Bachelor of Science degrees in mechanical engineering and materials science engineering from The University of Connecticut and a Masters of Business Administration in finance and information systems from The University of Texas at Dallas. He is currently pursuing a Doctor of Philosophy (Ph.D.) degree in system and engineering management from Texas Tech University.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: A photo of Pierre-Louis is available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 25, 2018 /PRNewswire/ -- FirstEnergy Solutions (FES), a competitive generation subsidiary of FirstEnergy Corp. (NYSE: FE), today announced that it has filed a Certification Letter with the U.S. Nuclear Regulatory Commission (NRC) formally notifying the Commission of its decision to permanently deactivate its nuclear power plants – two in Ohio and a third in Pennsylvania – over the next three years, citing "severe economic challenges."
The letter affirms the Company's March 28, 2018, notification to PJM Interconnection (PJM), the regional transmission organization, as well as its initial, informal notification to the NRC. The plant closures are subject to review by PJM for reliability impacts, if any. In the interim, the plants will continue normal operations.
"We are actively seeking policy solutions at the state and federal level as an alternative to retiring these plants, which we believe still have a crucial role to play in the reliability and resilience of our regional grid," said Don Moul, president of FES Generation Companies and chief nuclear officer.
"What also is at stake for the region is 4,048 megawatts of zero-emission baseload generating capacity, an all but irreplaceable resource," he added. "As early as mid-2019, we will begin facing decisions on each of these plants as to whether to refuel them or shut them down. Absent legislative or regulatory relief, we cannot continue to operate the plants on their current uneconomic basis."
FES, its subsidiaries and FirstEnergy Nuclear Operating Company on March 31, 2018, filed petitions under Chapter 11 of the Federal Bankruptcy Code in order to facilitate an orderly financial restructuring. The case is proceeding in U.S. Bankruptcy Court for the Northern District of Ohio, in Akron.
The retirement schedule of the nuclear plants is as follows:
The closure of the plants will affect about 2,300 plant employees.
The total capacity of the nuclear plants to be deactivated is 4,048 megawatts (MW). In 2017, the nuclear units contributed approximately 65 percent of the electricity produced by the FES generating fleet. The two nuclear plants in Ohio represent 14 percent of the state's overall generation capacity; the Beaver Valley units represent 7 percent of Pennsylvania's overall generation capacity.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors.
Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
(022018)
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SOURCE FirstEnergy Solutions
AKRON, Ohio, April 23, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced it has reached an agreement in principle with two groups of key creditors in the Chapter 11 proceedings of FirstEnergy Solutions (FES), its related entities and FirstEnergy Nuclear Operating Company (FENOC) on a proposed settlement of all potential claims among FE, FES and the creditor groups. Collectively, the creditors in this agreement represent a majority of the outstanding unsecured and secured debt obligations of FES and its related entities, including the majority of Bruce Mansfield certificate holders.
On March 31, 2018, FES, its subsidiaries and FENOC made voluntary Chapter 11 filings under the United States Bankruptcy Code. FirstEnergy and its distribution, transmission, regulated generation and Allegheny Energy Supply (AE Supply) subsidiaries were not part of the filing.
This agreement in principle is a significant step toward FES, its related entities, and FENOC ultimately emerging from bankruptcy. The settlement is intended to fully release FirstEnergy and related parties from all claims. It provides FES, its subsidiaries, and FENOC with assistance from FirstEnergy on key business matters during the restructuring process. The agreement also affirms FirstEnergy's previously announced guarantees and assurances of certain FES employee-related obligations, which include unfunded pension obligations and other employee benefits, and provides for the waiver of certain inter-company claims held by FirstEnergy.
The agreement is subject to approval by the FirstEnergy and AE Supply boards of directors, the execution of definitive agreements and certain other conditions, and – as to participation by FES, its subsidiaries and FENOC – approval by their respective boards. It also is subject to the approval of the Bankruptcy Court.
The creditor groups also agreed to use their best efforts to have the Official Committee of the Unsecured Creditors, as well as any remaining key creditors, join the settlement by June 15, 2018. The complete terms of the agreement are described in a court filing made today in the FES Chapter 11 proceedings and in a disclosure on Form 8K, which will be available at http://investors.firstenergycorp.com/IRW/Docs.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have recently filed for bankruptcy protection; the potential for litigation and demands for payment against FirstEnergy by FES and FENOC or certain of their creditors; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 23, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported first quarter 2018 GAAP earnings of $1.2 billion or $2.55 per basic share ($2.54 diluted), on revenues of $3 billion, primarily reflecting a gain on the deconsolidation of FirstEnergy Solutions Corp. (FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC) as a result of their bankruptcy filings on March 31, 2018. In the first quarter of 2017, the company recorded GAAP earnings of $205 million, or $0.46 per basic and diluted share of common stock, on revenue of $2.9 billion. GAAP earnings for both periods include the impact of special items listed below.
Operating (non-GAAP) earnings* were $0.67 per share for the first quarter of 2018, compared with $0.52 per share in the first quarter of 2017.
"Eighteen months ago, we announced our plan to move away from commodity-exposed generation, so our company could fully focus on the tremendous opportunities in our regulated businesses," said Charles E. Jones, FirstEnergy president and chief executive officer. "Today, we are pleased to report strong earnings that represent FirstEnergy as a fully regulated company, and to reaffirm our guidance and growth projections."
The company raised its forecast for 2018 GAAP earnings to a range of $3.61 to $3.91 per share, and affirmed its full-year operating (non-GAAP) earnings guidance range of $2.25 to $2.55 per share. In addition, the company is providing a second quarter GAAP earnings forecast range of $(0.06) to $0.04 per share, and operating (non-GAAP) earnings guidance range of $0.47 to $0.57 per share.
In FirstEnergy's Regulated Distribution business, first quarter 2018 earnings increased compared to the same period in 2017 as a result of higher weather-related usage, rates that went into effect in Ohio and Pennsylvania and lower expenses. These factors were partially offset by higher depreciation and general taxes.
Heating degree days in the company's utility service area were 17 percent higher than the same period of 2017. The colder weather drove a 5 percent increase in total distribution deliveries compared to the first quarter of 2017, including an 8.1 percent increase in residential sales and 3.6 percent increase in deliveries to commercial customers. Deliveries to industrial customers increased 2.8 percent, primarily due to higher usage in the shale gas and steel sectors. This marked the seventh consecutive quarterly increase in the company's industrial distribution sales.
In the Regulated Transmission business, first quarter earnings benefited from the implementation of approved settlement rates at Jersey Central Power & Light and a higher rate base associated with the company's continued investments in the Energizing the Future transmission initiative.
In Corporate/Other, results for the first quarter of 2018 reflect the impact of higher taxes and net financing costs, partially offset by higher commodity margin at the Pleasants Power Station related to higher wholesale prices and lower operating expenses.
Consolidated GAAP Earnings Per Share to Operating (Non-GAAP) |
|||||||
Three Months Ended March 31 |
2018 Estimates |
||||||
2018 |
2017 |
Second |
Full |
||||
Basic Earnings Per Share (GAAP) |
$ 2.55 |
$ 0.46 |
($0.06) - $0.04 |
$ 3.61 - $3.91 |
|||
Excluding Special Items*: |
|||||||
Impact of full dilution to 538M shares |
– |
(0.08) |
0.32 |
0.29 |
|||
Regulatory charges |
0.01 |
0.02 |
0.01 |
0.04 |
|||
Mark-to-market adjustments |
(0.01) |
– |
– |
(0.01) |
|||
Exit of competitive generation |
(1.88) |
0.12 |
– |
(1.88) |
|||
Debt redemption costs |
– |
– |
0.20 |
0.20 |
|||
Total Special Items* |
(1.88) |
0.06 |
0.53 |
(1.36) |
|||
Operating EPS (non-GAAP) |
$0.67 |
$0.52 |
$0.47 - $0.57 |
$2.25 - $2.55 |
|||
Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by number of shares outstanding assuming full impact of dilution from the $2.5 billion equity issuance in January 2018 (538M fully diluted shares). The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pretax amount. The income tax rates range from 21% to 29% and 35% to 38% in the first quarter of 2018 and 2017, respectively. |
Non-GAAP financial measures
*Operating earnings (loss) excludes "special items" as described below, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items also reflect the adjustment to include the full impact of share dilution from the $2.5 billion equity issuance in January 2018. Special items are not necessarily non-recurring. Management uses Operating earnings (loss) and Operating earnings (loss) per share to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Operating earnings (loss) per share, a non-GAAP financial measure, is calculated by dividing Operating earnings (loss), which excludes specials items as discussed herein, for the periods presented by 538 million shares, which reflects the full impact of share dilution from the equity issuance in January 2018. As of the first quarter 2018, Regulated operating (non-GAAP) earnings (loss), Regulated operating earnings (loss) per share, and Regulated operating earnings (loss) per share by segment, which were non-GAAP financial measures used in the guidance provided in February 2018, are now referred to as Operating earnings (loss), Operating earnings (loss) per share, and Operating earnings (loss) per share by segment, respectively. Management believes that the non-GAAP financial measures of Operating earnings (loss) and Operating earnings (loss) per share provide consistent and comparable measures of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities.
Deconsolidation
As a result of the bankruptcy filings, FirstEnergy Solutions (FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC) were deconsolidated from FirstEnergy's consolidated financial statements as of March 31, 2018. Additionally, the operating results of FES and FENOC, as well as Bay Shore Power Company and a portion of AE Supply, LLC that were subject to completed or pending asset sales, collectively representing substantially all of FirstEnergy's operations that comprised the Competitive Energy Services (CES) reportable operating segment, will be presented as discontinued operations in Corporate/Other. The remaining business activities that previously comprised the CES reportable operating segment were not material, and as such, have been combined into Corporate/Other for reporting purposes. The external segment reporting is consistent with the internal financial reports used by FirstEnergy's Chief Executive Officer (its chief operating decision maker) to regularly assess performance of the business and allocate resources. Disclosures for FirstEnergy's reportable operating segments for 2017, including the presentation of non-GAAP financial measures, have been revised to conform to the current presentation.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the first quarter, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on First Quarter 2018 Consolidated Report to the Financial Community.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EDT today. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the First Quarter 2018 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solutions Corp.(FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have recently filed for bankruptcy protection; the potential for litigation and demands for payment against FirstEnergy by FES and FENOC or certain of their creditors; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third-party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow earnings in our regulated businesses, continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of PJM Interconnection, L.L.C. (PJM) wholesale energy and capacity markets and cost-of-service rates, as well as FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act, adopted December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in our filings with the SEC. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, April 16, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the first quarter of 2018 before markets open on Monday, April 23. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT that day. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its first quarter Consolidated Report to the Financial Community and other supporting materials to the investor section of the website before markets open on April 23.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
READING, Pa., April 6, 2018 /PRNewswire/ -- Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), will conduct an emergency readiness drill on April 10 to review the company's storm restoration process.
About 150 company employees from the Operations, Engineering, Communications, External Affairs, Customer Support, Facilities, Distribution and Transmission Control and Planning & Analysis groups will participate in the drill that will be held at Penelec's Distribution Control Center in Erie, Pa.
"FirstEnergy's storm restoration process has been recognized by electric industry organizations for its effectiveness numerous times over the years, which is proof that these training exercises work," said Scott Wyman, regional president of Penelec. "The employee training, along with infrastructure investments and tree trimming, combine to help enhance service reliability for our customers."
A team of FirstEnergy and Penelec employees has been preparing for weeks for the drill, which will roughly follow the same time schedule and number of customer outages as an actual storm that occurred in the past. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 31, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) on March 31, 2018, reached a milestone in its previously announced strategy to exit the competitive generation business and become a fully regulated utility company with a stronger balance sheet, solid cash flows and more predictable earnings.
As announced separately on March 31, FirstEnergy Solutions (FES), the competitive subsidiary of FirstEnergy, along with all FES subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), have made a voluntary filing under Chapter 11 of the United States Bankruptcy Code in order to facilitate an orderly financial restructuring. This decision was made by FES' board of directors. The filing does not involve FirstEnergy or its distribution, transmission, regulated generation and Allegheny Energy Supply (AE Supply) subsidiaries.
"FirstEnergy and its other subsidiaries are not part of this Chapter 11 filing," said Charles E. Jones, president and chief executive officer of FirstEnergy. "The six million customers of our regulated utilities will continue to receive the same reliable service, while our regulated generation facilities will continue normal operations, with the same longstanding commitment to safety and the environment.
"FirstEnergy will remain focused on creating long-term value for its customers, employees and shareholders," Jones said. "Becoming a fully regulated utility company should give FirstEnergy a stronger balance sheet, solid cash flows and more predictable earnings. Simply put, we will be better positioned to deliver on the tremendous opportunities for customer-focused growth," he said.
FirstEnergy's management team is being advised by its Restructuring Working Group, which has been engaged in substantive negotiations with a steering committee of FES noteholders. These discussions are expected to continue over the next several weeks. Additionally, the parties have joined an agreement filed with the U.S. Bankruptcy Court, Northern District of Ohio, for approval to advance an efficient discovery and settlement process. As of March 31, 2018, FES, all of its subsidiaries, and FENOC will be deconsolidated from FirstEnergy's financial reporting.
Earlier this year, FirstEnergy announced plans for more than $10 billion in capital investments in its regulated businesses through 2021. This includes the company's 10 electric distribution utilities, which serve six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York and together form one of the nation's largest investor-owned electric systems, as well as its transmission operations, which include approximately 24,000 miles of lines and two regional transmission operation centers.
FirstEnergy's 3,779 megawatt (MW) regulated electric generation fleet includes four plants in West Virginia, Virginia and New Jersey. These are the 1,098 MW coal-fired Fort Martin Plant in Maidsville, W.Va.; the 1,984 MW coal-fired Harrison Plant in Haywood, W.Va.; 487 MW of regulated generation at the Bath County Hydro facility in Warm Springs, Va.; and 210 MW of hydro generation at the Yards Creek facility in Blairstown, N.J.
In late 2016, FirstEnergy announced that it would explore a variety of strategic alternatives for its commodity-exposed generation business, with a goal of exiting the business by mid-2018. In the past year, the company's competitive subsidiaries have sold assets, announced plans to deactivate generating units, and worked for federal and state support for generating assets.
At this time, the company's AE Supply subsidiary owns two competitive generation assets: the 1,300 MW Pleasants Plant in Willow Island, W.Va., and 713 MW of competitive generation at Bath County Hydro. The company has announced plans to sell or deactivate Pleasants by the end of 2018, and the previously announced sale of Bath is on course to close in the first half of the year.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to successfully execute an exit of commodity-based generation that minimizes cash outflows and associated liabilities, including, without limitation, the losses, guarantees, claims and other obligations of FirstEnergy Corp., together with its consolidated subsidiaries (FirstEnergy) as such relate to the entities previously consolidated into FirstEnergy, including FirstEnergy Solution Corp. (FES), its subsidiaries and FirstEnergy Nuclear Operating Company (FENOC), which have recently filed for bankruptcy protection; the potential for litigation and demands for payment by certain creditors of FES, its subsidiaries and FENOC against FirstEnergy; the risks associated with the bankruptcy cases of FES, its subsidiaries and FENOC, including, but not limited to, third party motions in the cases that could adversely affect FirstEnergy, its liquidity or results of operations; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to operate as a fully regulated business; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission and distribution system, or the availability of capital or other resources supporting identified transmission and distribution investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to grow the earnings in our regulated businesses, continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the uncertainties associated with the deactivation of our remaining commodity-based generating units, including the impact on vendor commitments, and as it relates to the reliability of the transmission grid, the timing thereof; costs being higher than anticipated and the success of our policies to control costs; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic and weather conditions affecting future sales, margins and operations, such as significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting FirstEnergy and/or our major industrial and commercial customers, and other counterparties with which we do business; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business, including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of capacity markets, including PJM Interconnection, L.L.C. (PJM) markets; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Combustion Residuals, Cross-State Air Pollution Rule and Mercury and Air Toxic Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger, than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Jobs Act adopted on December 22, 2017, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock, and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read together with, the risk factors included in FirstEnergy's filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, March 29, 2018 /PRNewswire/ -- Citing a serious threat to the stability of the electric grid, FirstEnergy Solutions Corp. (FES) today called on US Energy Secretary Rick Perry to issue an emergency order directing PJM Interconnection (PJM), the regional transmission organization, to immediately begin negotiations to secure the long-term capacity of certain nuclear and coal-fired plants in the region and to compensate their owners "for the full benefits they provide to energy markets and the public at large, including fuel security and diversity."
FES filed an application for an order under Section 202c of the Federal Power Act, which gives the Secretary of Energy extraordinary powers to confront such emergencies.
The threat, FES said, is caused by the premature retirement of plants that have many years of useful life but cannot operate profitably under current market conditions. The retirement of such "at-risk" plants is accelerating, the company said. On March 28, 2018, for example, FES notified PJM and the federal Nuclear Regulatory Commission that its two nuclear plants in Ohio and one in Pennsylvania, with combined capacity of 4,048 megawatts, would be deactivated over the next three years.
The U.S. Department of Energy noted in a new study that vulnerability of the grid was vividly demonstrated this past winter when a cold snap gripped the East from December 27 through January 8, causing a surge in demand for natural gas for home heating, which, along with pipeline problems and price spikes, reduced its availability for power generation. Had nuclear and coal-fired not outperformed during that period, PJM and the Northeast grid would likely have faced outages and other reliability problems, the agency said.
Coal and nuclear are uniquely capable of coping with natural and man-made disruptions to power generation fuel supply because both can store fuel onsite for more than a year, unlike natural gas or alternative energy sources. Yet PJM and the Federal Energy Regulatory Commission fail to acknowledge the critical extra value that those advantages provide to the reliability of the grid and the security of the nation.
"PJM has demonstrated little urgency to remedy this problem any time soon – so immediate action by the Secretary is needed to alleviate the present emergency," FES President Donald R. Schneider said. Continued inaction could lead to "significant, negative outcomes for the approximately 65 million people living and working within the PJM footprint," he said.
"Such quick and decisive intervention is necessary to avoid a crisis point where such baseload generation will cease to exist in competitive markets, and to ensure that nuclear and coal-fired generators operating within PJM are compensated fairly for their costs and the benefits that they provide such that they can continue to operate and ensure a dependable, affordable, safe, secure, and clean supply of electricity," Schneider concluded.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp. (NYSE: FE); the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors.
Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Solutions
AKRON, Ohio, March 28, 2018 /PRNewswire/ -- FirstEnergy Solutions (FES), a competitive generation subsidiary of FirstEnergy Corp. (NYSE: FE), today notified PJM Interconnection (PJM), the regional transmission organization, two nuclear power plants in Ohio and another in Pennsylvania owned by its subsidiary will be deactivated during the next three years. Plant closures are subject to review by PJM for reliability impacts, if any.
In the interim, the plants will continue normal operations, as FES seeks legislative policy solutions as an alternative to deactivation or sale.
The plants scheduled for retirement are:
The total capacity of the nuclear plants to be deactivated is 4,048 megawatts (MW). In 2017, the nuclear units contributed approximately 65 percent of the electricity produced by the FES generating fleet.
"The decision to deactivate these facilities is very difficult and in no way a reflection on the dedicated, hard-working employees who operate the plants safely and reliably or on the local communities and union leaders who have advocated passionately on their behalf," said Don Moul, president of FES Generation Companies and chief nuclear officer. "Though the plants have taken aggressive measures to cut costs, the market challenges facing these units are beyond their control.
"We call on elected officials in Ohio and Pennsylvania to consider policy solutions that would recognize the importance of these facilities to the employees and local economies in which they operate, and the unique role they play in providing reliable, zero-emission electric power for consumers in both states. We stand ready to roll-up our sleeves and work with policy makers to find solutions that will make it feasible to continue to operate these plants in the future."
Collectively, the plants have contributed more than $540 million in taxes throughout their operation to support local communities. The Company continues to work toward legislative solutions to keep these plants operating, but will also look for potential buyers as another alternative. About 2,300 plant employees are expected to be affected by the ultimate deactivations.
The Nuclear Regulatory Commission (NRC) has been verbally notified of the deactivations, and a required written notification will be made to the agency within 30 days. In addition, notifications were made to the Institute of Nuclear Power Operations (INPO) and Nuclear Energy Institute (NEI), organizations that support the U.S. nuclear industry.
The two-year-plus lead time is needed to make the complex preparations for a potential plant deactivation, including preparing a detailed decommissioning plan and working with the NRC to amend plant licenses.
In November 2016, FES parent FirstEnergy Corp. announced that it would exit competitive, or non-regulated, generation due to weak power prices, insufficient results from recent capacity auctions, and weak demand forecasts. A strategic review of FES's two remaining coal plants and one natural gas plant, totaling 5,245 MW, will continue as part of that plan.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors.
Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
(022018)
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SOURCE FirstEnergy Solutions
AKRON, Ohio, March 27, 2018 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, returned to service at 4:03 p.m. today following a March 3, 2018, shutdown for refueling and maintenance. The 24-day outage marks the shortest refueling outage in Davis-Besse's 41 years of operation, with the previous record being 38 days in 2012.
The 908-megawatt plant is currently operating at approximately 20 percent power. Power levels will vary over the next several days as the plant ramps up to full power.
While the unit was shut down, approximately one-third of the unit's 177 fuel assemblies were exchanged. In addition, more than 1,200 work activities associated with numerous inspections, preventive maintenance and improvement projects were completed, including examinations of various pumps and valves, the reactor vessel, steam generators, turbine generator and cooling tower.
"Davis-Besse's solid outage performance reflects the hard work and dedication of the plant employees and more than 1,000 temporary contract workers and FENOC personnel who assisted with the refueling outage," said FENOC Chief Operating Officer Paul Harden. "Thanks to their good work, Davis-Besse will operate at peak efficiency while generating safe, reliable, secure and clean electricity."
Prior to the outage, Davis-Besse operated safely and reliably, generating more than 13.8 million megawatt hours of electricity since the completion of its last refueling in May 2016.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its FENOC subsidiary also operates the Beaver Valley Power Station in Shippingport, Pa. and the Perry Nuclear Power Plant in Perry, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter @DavisBesse, @Perry_Plant, and @BVPowerStation.
Editor's note: Photos of Davis-Besse employees performing outage work are available on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/davis-besse-nuclear-power-station-returns-to-service-following-refueling-and-maintenance-outage-300620559.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 22, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is using more than 3,500 line workers, contractors and other personnel to restore electric service to customers who lost power following the third major nor'easter to hit New Jersey in the past several weeks.
About 61,000 customers have been restored as of 2:30 p.m. after significant accumulations of wet, heavy snow caused outages beginning last night. Currently, approximately 11,000 customers remain out of service, with the majority of outages being reported in Burlington, Monmouth and Ocean counties.
Prior to the storm, JCP&L opened a staging site in Jackson Township in Ocean County to handle the influx of outside workers from as far away as Canada. With the Ocean County site being in an area with the most significant damage, crews are able to quickly gather supplies and be directed to work locations. A second staging site also was opened in Essex County.
JCP&L expects about 95 percent of the customers affected by the recent winter storm to be restored by 11:30 p.m. tonight. The remaining customers are expected to be restored by 11:30 p.m. Friday.
"The staging sites we set up in advance of the heavy snowfall are very busy today as JCP&L personnel, FirstEnergy utility crews and other line workers from such places as Ohio, Michigan, South Carolina and Quebec continue the round-the-clock efforts to restore power to our customers," said Jim Fakult, president of JCP&L. "As we continue assessing the damage, crews are being deployed to the hardest-hit areas so we can get the most customers back on in the quickest amount of time."
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
As part of its storm restoration process, JCP&L has taken the following steps:
JCP&L also is offering free water & ice to customers remaining out of service. Customers can pick up water & ice at the following locations.
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems, even at this latter stage in the restoration process.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive billing reminders, weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-line-crews-and-other-utility-personnel-continue-restoration-process-following-third-noreaster-to-impact-service-area-300618464.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 20, 2018 /PRNewswire/ -- FirstEnergy (NYSE: FE) utility personnel are prepared to respond should the heavy, wet snow forecast for much of the Mid-Atlantic region cause power outages beginning later today.
Company meteorologists are monitoring a strong winter storm system that is expected to produce more than a foot of wet, heavy snow and wind gusts in excess of 45 mph in some of FirstEnergy's service areas in Pennsylvania, Maryland, West Virginia, New Jersey and Ohio. The heavier the snow, the greater the chances of falling trees and broken limbs contacting power lines, which are a primary cause of power outages.
"We are monitoring the weather conditions closely and are making plans to deploy resources to the areas that could get hit the hardest," said Mark Julian, vice president, Utility Operations, FirstEnergy. "Preparation efforts include reviewing operational procedures with employees for making repairs safely in heavy snow conditions and readying our vehicles to operate on wet and slippery roadways."
The FirstEnergy utilities that are forecast to be affected by the weather event include: Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; Potomac Edison in Maryland and the eastern Panhandle of West Virginia; Jersey Central Power & Light (JCP&L) in New Jersey; and Ohio Edison (southern areas) in Ohio.
All of FirstEnergy's utilities are reviewing storm response plans, which include making arrangements to bring in additional line, substation and forestry personnel, and additional dispatchers and analysts at regional dispatch offices, as required, based on the severity of the weather.
The company also has been in contact with electric industry mutual assistance organizations about the possibility of securing additional resources to assist with storm restoration efforts.
Other steps FirstEnergy utilities are taking to prepare for possible weather impacts include:
Customers who are without power are encouraged to call 1-888-LIGHTSS
(1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers are encouraged to prepare for the possibility of outages caused by high winds:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-utilities-preparing-for-winter-storm-forecast-to-impact-the-region-beginning-today-300616940.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 20, 2018 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable June 1, 2018, to shareholders of record at the close of business on May 7, 2018.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock and thereby on FirstEnergy Corp.'s preferred stock, during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-corp-declares-unchanged-common-stock-dividend-300616839.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 20, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is preparing for the third nor'easter to hit the region in the past two weeks that could produce more than a foot of heavy, wet snow and the potential for wind gusts up to 45 mph in its northern and central New Jersey service areas beginning early Wednesday.
JCP&L personnel have implemented storm and staffing plans and are prepared to respond appropriately should severe weather cause power outages. As part of this effort, JCP&L's Incident Command System has been implemented and the Command Center in Holmdel is operational.
Electrical contractors are available in New Jersey to assist with restoration efforts, as needed, and FirstEnergy utility crews from Ohio are traveling to New Jersey today to provide additional support. To handle the influx of outside crews, staging sites are being prepared in Ocean and Essex counties.
Other steps JCP&L is taking to prepare for possible weather impacts include:
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
Customers are encouraged to prepare for the possibility of outages caused by significant snowfall and high winds:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive billing reminders, weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts.
More information about these communications tools is available online at www.firstenergycorp.com/connect.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-preparing-for-third-noreaster-that-could-impact-region-300616817.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 11, 2018 /PRNewswire/ -- A small army of utility personnel – more than 6,200 line workers, hazard responders and assessors, forestry crews, job dispatchers, and electrical contractors – is part of Jersey Central Power & Light's (JCP&L) strong effort to restore the 22,000 customers who remain without power following the two Nor'easters that slammed the Mid-Atlantic and New England areas.
Most customers who lost power as a result of the first storm were restored by late last night, and the majority of the remaining 22,000 customers out of service are expected to be restored by late tonight.
"Our JCP&L personnel and outside line crews have been working 16-hour days to safely restore power since the storms hit the region and will continue to do so until the job is finished," said Jim Fakult, president of JCP&L. "We greatly appreciate the patience our customers have shown during this undertaking, including the many people who have stopped by our line shops and staging areas to give homemade treats to our workers as a way of showing their appreciation of the hard work being done in very challenging conditions."
The restoration effort has been a massive undertaking from an operational and logistical standpoint. Some highlights include:
JCP&L continues to post storm updates on social media and on the company website. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com. Water and ice also is available for JCP&L customers currently without power. For distribution locations, visit firstenergycorp.com/outages_help/storm_info/water-ice.html.
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems, even at this latter stage in the restoration process.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/more-than-6200-utility-personnel-help-jcpl-restore-customers-following-severe-winter-storms-300612001.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 10, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is on track to restore electric service by late this evening to the majority of the 3,400 customers who remain without power due to the first severe winter storm that slammed the Mid-Atlantic and New England areas. The majority of the customers affected by the second winter storm are expected to be restored by late Monday.
A workforce of nearly 6,000 people – line workers, hazard responders and assessors, forestry crews, job dispatchers, and electrical contractors – are part of JCP&L's overall restoration effort that also includes ongoing work to restore power to the remaining 41,000 customers affected by the second winter storm.
Estimated restoration times for customers impacted by the second storm are as follows:
"Crews are restoring customers around the clock and many people in the affected areas will get their power back on before our estimates," said Jim Fakult, president of JCP&L. "The damage to our system has been substantial, with more than 600 broken poles and more than 1,700 spans of wire needing to be replaced. Our restoration times reflect this wide-spread damage and also the thousands of single outages that require crews to travel to each individual location to make repairs."
To handle the influx of outside workers, staging sites have been established in Essex, Hunterdon, Morris, and Sussex counties.
JCP&L continues to post storm updates on social media and on the company website. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com. Water and ice also is available for JCP&L customers currently without power. For distribution locations, visit firstenergycorp.com/outages_help/storm_info/water-ice.html.
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems, even at this latter stage in the restoration process.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-expects-to-restore-customers-from-first-winter-storm-by-late-tonight-300611975.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 9, 2018 /PRNewswire/ -- An additional 400 utility workers will arrive today to help Jersey Central Power & Light (JCP&L) restore service to all customers by late tomorrow night who have been without power since the first winter storm struck northern New Jersey.
JCP&L has more than 5,000 people dedicated to restoring service to customers as well as addressing safety hazards and road closures from the recent storm that dumped up to an additional 25 inches of snow in portions of JCP&L's service area. Crews continue to make progress, and this morning the company established an estimated time of restoration of 11:30 p.m., Saturday, March 10, for customers in northern New Jersey who remain out of service from the first storm. Customers impacted by the second storm are expected to be restored as follows:
Crews are restoring customers around the clock and many people in the affected areas will get their power back sooner. The full restoration estimates also reflect the thousands of single outages that require crews to travel to each individual location to restore service.
As of Friday morning, approximately 10,000 customers remain without power from the original event and every effort is being made to restore these customers. JCP&L has already restored service to about 385,000 customers, with approximately 80,000 remaining without power across northern and central New Jersey.
"JCP&L was prepared to respond to these storms and took decisive steps to deploy resources in areas we expected to be hardest hit," said Jim Fakult, president of JCP&L. "The goal of our pre-planning efforts was to speed the restoration process and help ensure the safety of our workers and the public. However, both storms in the past week truly lived up to the hype, causing tremendous damage to our electric system and very challenging work conditions for our crews. We're very proud of their efforts and will continue to provide every available resource they need to get the job done safely."
JCP&L will continue to post storm updates on social media and on the company website. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com. Water and ice is also still available for JCP&L customers currently without power. For distribution locations, visit firstenergycorp.com/outages_help/storm_info/water-ice.html.
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
JCP&L will continue to post storm updates on social media and on the company website. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems, even at this latter stage in the restoration process.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
For current outage updates, text STAT to 544487 or visit our outage map: http://spr.ly/NJOutageMap
We thank you all for your grit and support of our crews during what we know is a very challenging time. More to come throughout the day. Stay safe!
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-establishes-estimated-restoration-times-300611624.html
SOURCE FirstEnergy Corp.
READING, Pa., March 9, 2018 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) utility personnel continue to make steady progress restoring power following two massive winter storms in the company's southeastern Pennsylvania service territory. The company expects to have the majority of the remaining affected customers returned to service by late this evening.
Met-Ed is assisted by crews from 14 states traveling from as far away as Louisiana. These additional crews have contributed to a total response force of more than 2,200 personnel – more than 1,000 of which are line workers. This robust restoration team continues to focus on the largest outages while prioritizing customers who have been without power the longest. At this stage of the restoration process, the necessary repairs tend to be more difficult and time-consuming.
"We know it's frustrating to be without power for an extended period and we want to thank our customers for their support throughout this process," said Ed Shuttleworth, regional president of Met-Ed. "We're in the home stretch now and will not stop working until the last customer is restored."
About 248,000 customers lost power following the original storm, with some additional outages and blocked roads resulting from the second storm. Approximately 7,000 customers remain out of service, located primarily in Pike and Monroe counties. While crews are working to complete restoration in the hardest-hit areas by late Friday night, many customers will be returned to service sooner.
As part of its storm restoration process, Met-Ed has taken the following steps:
Met-Ed also is offering free water and ice to customers remaining out of service. Customers can pick up water and ice at the following locations:
Met-Ed reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of crews repairing storm damage are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/met-ed-crews-focused-on-completing-restoration-by-late-friday-evening-300611547.html
SOURCE FirstEnergy Corp.
READING, Pa., March 8, 2018 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) utility personnel are working around the clock to restore power following a second powerful winter storm that left more than eight inches of additional wet, heavy snow in the company's southeastern Pennsylvania service territory.
Additional crews arrived in the area yesterday, bringing the total personnel responding to both storms to nearly 2,200. This robust response team remains focused on repairing the largest outages while prioritizing customers who have been without power the longest.
About 238,000 customers lost power following last week's storm, with some additional outages and blocked roads resulting from the second storm that hit the area yesterday. Approximately 20,000 customers remain out of service, primarily in the Stroudsburg, Dingmans Ferry and Easton areas of Monroe, Pike and Northampton counties. Crews are working to complete restoration in the hardest-hit areas by late Friday night, but many customers will be returned to service sooner.
"While roads were being cleared of yesterday's snow, we worked throughout the night to prepare our crews for an early start this morning," said Ed Shuttleworth, regional president of Met-Ed. "With several days of clear weather ahead of us, we're confident we will complete the restoration process on schedule."
As part of its storm restoration process, Met-Ed has taken the following steps:
Met-Ed also is offering free water and ice to customers remaining out of service. Customers can pick up water and ice at the following locations:
Met-Ed reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of crews repairing storm damage are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/more-than-1000-met-ed-line-workers-restoring-remaining-customers-around-the-clock-following-second-major-winter-storm-300610855.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 8, 2018 /PRNewswire/ -- More than 4,100 workers are continuing their efforts around the clock to restore customers of Jersey Central Power & Light (JCP&L) after a major winter storm dumped as much as 25 inches of wet, heavy snow in some areas of northern New Jersey yesterday.
Utility crews remain focused on restoring customers who have been without power the longest. JCP&L has already restored nearly 320,000 customers since the first storm hit northern New Jersey, and approximately 18,000 remain without power from the original event, primarily in Hunterdon, Morris, Warren and Sussex counties. JCP&L is putting every resource available to restore these customers. Due to the extent of new damage from yesterday's storm, it is not possible yet to establish meaningful restoration times. JCP&L expects to complete enough evaluation of system damage to set these estimates this afternoon.
Yesterday's heavy snow caused about 117,000 additional power outages, along with treacherous driving conditions, downed wires and road closures. New snow totals are highest in areas of northern New Jersey that were hit hardest by the first storm, and the heavy, wet snow also caused outages in areas of central New Jersey that were unaffected by the first storm. While JCP&L remains focused on restoring customers who have been out the longest, the company will address any new outages based on its priority system that deals with the largest outages first.
"Our number one priority is restoring those customers who have been without power the longest," said Jim Fakult, President of JCP&L. "We have a huge contingent of utility crews working 16-hour shifts around the clock to accomplish this goal, and with fair weather predicted in the days ahead, we're confident we will get the job done. In the meantime, we'll continue to keep the lines of communications open as we make further progress."
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
Jim Fakult and other company officials will hold a press conference at 3 p.m. today at the company's Summit Line Shop located at 52 Chatham Road in Summit, N.J. JCP&L will continue to post storm updates on social media and on the company website. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems, even at this latter stage in the restoration process.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-remains-focused-on-restoring-longest-duration-outages-300610854.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 7, 2018 /PRNewswire/ -- More than 4,100 utility workers continue their efforts around the clock to restore customers of Jersey Central Power & Light (JCP&L) as a new snowstorm creates hazardous conditions and the potential for additional outages in northern New Jersey.
Last night, the Governor of New Jersey declared a State of Emergency for the entire state. Heavy wet snow, falling at rates as much as two inches an hour, may cause more tree damage, block roads that were previously cleared, damage additional poles and wires, and make driving difficult for utility crews. JCP&L remains focused on restoring customers who have been out the longest, and will address any new outages based on its priority system that deals with the largest outages first.
JCP&L has restored power to more than 242,000 of the nearly 272,000 customers in New Jersey affected by the recent storm that inflicted widespread damage on its facilities. More than 4,100 employees and contractors – including about 1,500 line workers – are now involved in the massive effort and will continue working until full restoration is achieved. An additional 200 line workers are arriving in New Jersey today from Virginia.
Approximately 29,000 customers remain out of service, primarily in Hunterdon, Morris, Warren and Sussex counties. Until the full impact of today's storm is known, it is difficult to predict an overall restoration time, but local estimates will continue to be posted at www.firstenergycorp.com/outages.
"We're entering the most time-consuming phase of this effort – restoring individual homes to service – and inclement weather and bad roads could create more challenges," said Jim Fakult, president of JCP&L. "But we have a massive contingent of crews on the ground who are up to the challenge of working safely in snowy conditions so we can get our impacted customers back up and running again."
As part of its storm restoration process, JCP&L has taken the following steps:
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems, even at this latter stage in the restoration process.
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-continuing-massive-restoration-effort-as-new-powerful-storm-impacts-new-jersey-300610108.html
SOURCE FirstEnergy Corp.
READING, Pa., March 7, 2018 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) crews repaired two high-voltage power lines overnight, restoring power to more than 7,000 customers in the Bushkill and Shawnee areas of its eastern Pennsylvania service territory.
About 238,000 customers lost power following last week's storm. Approximately 19,400 customers remain out of service, primarily in the Stroudsburg, Dingmans Ferry and Easton areas of Monroe, Pike and Northampton counties. Crews continue to work towards completing restoration in the hardest-hit areas by late Wednesday night, though additional heavy, wet snow may slow those efforts.
"We are working in the snow today as long as it is safe to do so, and customers who have been without power the longest remain our top priority," said Ed Shuttleworth, regional president of Met-Ed. "Once the storm has passed, we are committed to keeping all personnel in place and will work around the clock until every customer has been restored."
The Governor of Pennsylvania has declared a State of Emergency for several counties in the eastern portion of the state. Additional crews arrived in the area yesterday, bringing the total personnel responding to both storms to nearly 900. This robust response team will address any new outages based on a priority system that deals with the largest outages first, but remains focused on restoring customers who have been without power since last week.
As part of its storm restoration process, Met-Ed has taken the following steps:
Met-Ed also is offering free water and ice to customers remaining out of service. Customers can pick up water and ice at the following locations:
Met-Ed reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of crews repairing storm damage are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/met-ed-makes-significant-progress-overnight-restoring-an-additional-7000-customers-following-severe-winter-storm-300610099.html
SOURCE FirstEnergy Corp.
READING, Pa., March 6, 2018 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) has today deployed more than 750 line workers to its eastern Pennsylvania service area to focus on making repairs to the high-voltage system that feeds power to local electric networks.
"Following a devastating storm like this one, we complete our repair work in stages," said Ed Shuttleworth, regional president of Met-Ed. "We expect to restore a significant number of customers over the next two days because a single repair on these major power lines can affect thousands of customers."
Met-Ed is also closely monitoring a second major storm forecasted to move up the East Coast on Wednesday, and will keep all personnel in place to efficiently respond to any additional damage. While the company hopes to restore power to customers in the hardest-hit areas of Monroe, Northampton and Pike counties by late Wednesday night, additional heavy, wet snow may hamper those efforts.
About 202,000 customers have been restored since the storm first hit. Currently, approximately 28,000 customers remain out of service.
As part of its storm restoration process, Met-Ed has taken the following steps:
Met-Ed also is offering free water and ice to customers remaining out of service. Most customers can pick up water and ice at the following locations:
In Pike County, ice is currently available at no charge at the following locations:
Met-Ed reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers repairing storm damage are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/met-ed-restoring-major-power-lines-following-severe-winter-storm-300609237.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 6, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) restored power to an additional 30,000 customers overnight and continues to make significant progress following the massive winter storm that pounded the entire Mid-Atlantic and New England region last weekend.
JCP&L is also closely watching a second major storm expected to move up the East Coast on Wednesday, and will keep all personnel in place this week to quickly respond to any additional outages.
Since last Friday, approximately 180,000 customers have been restored in JCP&L's northern New Jersey service area. Nearly 3,400 people – including line workers from as far as Louisiana, Texas and Michigan – are working around the clock and will continue their efforts until full restoration is achieved later this week. The heavy wet snow and 60 mph wind gusts caused tree damage to 295 poles and more than 1,000 spans of wire, and crews have reopened almost 1,400 roads in the area to reach damaged facilities.
At this time, approximately 40,000 customers remain out of service, primarily in Hunterdon, Morris, Warren and Sussex counties. JCP&L expects the majority of remaining customers will be restored to service by late Wednesday. While we hope to restore power to all remaining customers in the hardest-hit areas of northern Morris, Warren and Sussex counties by late Thursday, additional heavy, wet snow may hamper those efforts. The company is currently reporting more than 1,300 individual locations without power - a time-consuming process where each home must be visited by a separate crew to restore service.
As part of its storm restoration process, JCP&L has taken the following steps:
After local power lines are repaired and put back in service, damage to individual customer service wires may become apparent. Customers are reminded that if their neighbor's power is on and theirs is not, the problem may be isolated to their individual service, and service to the neighbor could be fed from a different circuit. Customers are encouraged to report such problems, even if it is later in the restoration process.
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-makes-significant-progress-overnight-restoring-power-to-remaining-new-jersey-customers-affected-by-winter-storm-300609217.html
SOURCE FirstEnergy Corp.
READING, Pa., March 5, 2018 /PRNewswire/ -- More than 750 line workers are in Metropolitan Edison Company's (Met-Ed) eastern Pennsylvania service area restoring electric service to customers who lost power following the massive winter storm that pounded the entire Mid-Atlantic and New England region over the weekend.
About 200,000 customers have been restored since the storm first hit. Currently, approximately 35,000 customers remain out of service, with the most damage being in the Easton and Stroudsburg areas that were hit with 60 mph winds and more than a foot of heavy wet snow.
Met-Ed expects the majority of customers to be restored to service by late tonight. However, customers in the hardest hit areas of Monroe, Northampton and Pike counties will be restored by late Wednesday night.
"Along with the line workers, damage assessors, hazard responders, forestry personnel, dispatchers and contractors are also involved in this massive restoration effort," said Ed Shuttleworth, regional president of Met-Ed. "We will continue to work around the clock to get the lights back on for our customers."
To handle the influx of outside workers and help make the restoration process more effective, Met-Ed has set up staging sites in Easton, East Stroudsburg and Saylorsburg.
As part of its storm restoration process, Met-Ed has taken the following steps:
Met-Ed also is offering free water & ice to customers remaining out of service. Customers can pick up water & ice at the following locations:
Met-Ed reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/met-ed-line-crews-and-other-personnel-continue-to-make-repairs-following-severe-winter-storm-300608558.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 5, 2018 /PRNewswire/ -- More than 780 line workers are in northern New Jersey restoring electric service to Jersey Central Power & Light (JCP&L) customers who lost power following the massive winter storm that pounded the entire Mid-Atlantic and New England region over the weekend.
About 150,000 customers have been restored in JCP&L's northern New Jersey service area. The heavy wet snow and 60 mph wind gusts caused more than 850 roads to be closed, tree damage to 295 poles and more than 1,000 spans of wire. Currently, approximately 63,000 customers remain out of service in Essex, Hunterdon, Mercer, Morris, Somerset, Sussex, Union and Warren counties.
About 500 additional line workers from other FirstEnergy utilities and contractors will be working today and tomorrow to assist with the restoration process.
JCP&L expects the majority of customers to be restored to service by late Tuesday. However, some customers in the hardest hit areas of northern Morris County and Sussex County will be restored by late Thursday.
To handle the influx of outside workers and help make the restoration process more efficient, JCP&L has set up two staging areas, one in Sussex County and one in Morris County. A JCP&L mobile command center also has been set up to direct the outside workers to where they are most needed.
"Overall, more than 3,400 people are involved in this massive effort to restore our customers who lost power due to the devastating winter storm," said Jim Fakult, president of JCP&L. "Along with the line personnel, we also have damage assessors, hazard responders, forestry personnel, dispatchers and contractors working around the clock, with more on the way."
As part of its storm restoration process, JCP&L has taken the following steps:
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-line-crews-and-other-personnel-continue-to-make-repairs-in-northern-new-jersey-following-severe-winter-storm-300608531.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 5, 2018 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, shut down at 12:01 a.m. on Saturday, March 3, for scheduled refueling and maintenance.
While the unit is offline, about a third of the unit's 177 fuel assemblies will be replaced. Preventative maintenance and safety inspections to ensure continued safe and reliable operations also will be performed on major components including various pumps, valves, reactor vessel, steam generators, turbine generator and the cooling tower. In total, more than 1,200 work activities will be completed during the refueling outage.
More than 1,000 temporary contractor workers and FENOC and FirstEnergy employees will supplement the Davis-Besse workforce during the outage. The additional workforce will provide a multi-million-dollar boost to the local economy as workers stay in area hotels, eat in local restaurants and frequent area stores.
The 908-megawatt Davis-Besse Nuclear Power Station has operated safely and reliably, generating more than 13.8 million megawatt hours of electricity since the completion of its last refueling in May 2016.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its FENOC subsidiary also operates the Beaver Valley Power Station in Shippingport, Pa. and the Perry Nuclear Power Plant in Perry, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter @DavisBesse, @Perry_Plant, and @BVPowerStation.
Forward-Looking Statements: This release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/davis-besse-nuclear-power-station-begins-refueling-and-maintenance-outage-300608012.html
SOURCE FirstEnergy Corp.
READING, Pa., March 4, 2018 /PRNewswire/ -- Service has been restored to more than 186,000 Metropolitan Edison Company (Met-Ed) customers who lost power following the massive winter storm that pounded the entire Mid-Atlantic and New England region this weekend.
Some of the hardest hit areas were in Met-Ed's eastern Pennsylvania counties that experienced 50 mph winds and more than a foot of heavy, wet snow. Currently, approximately 43,000 customers remain out of service due to the severe winter weather, with the hardest hit areas including Stroudsburg and Easton.
More than 300 Met-Ed linemen, damage assessors, hazard responders, forestry personnel, dispatchers and public protectors are working to restore customer outages. In addition, more than 550 line workers and support personnel from other FirstEnergy utilities and contractors will be arriving to assist with restoration efforts in the Met-Ed service areas. These crews recently completed work restoring customers in other parts of Pennsylvania who lost power because of the winter storm.
"Large areas of the eastern seaboard were slammed by this winter storm and unfortunately many Met-Ed customers got hit pretty hard," said Ed Shuttleworth, regional president of Met-Ed. "The high winds were a big challenge to our initial restoration efforts since it was unsafe for our crews to go up in buckets and make repairs. Plus, the wet, heavy snow and hundreds of road closures made it almost impossible to travel to some damage locations. Met-Ed crews and other personnel will continue to work round-the-clock to make repairs and deploy resources as needed until all customers are restored."
As part of the damage assessment process, Met-Ed is using helicopters and aerial drones to inspect damaged power lines, especially in more remote areas.
Met-Ed expects the majority of customers to be restored to service by late Monday. However, customers in the hardest hit areas of Easton and Stroudsburg will be restored by late Wednesday night.
To handle the influx of outside workers, Met-Ed has set up staging sites in Easton and East Stroudsburg.
As part of its storm restoration process, Met-Ed has taken the following steps:
Met-Ed reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive billing reminders, weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts.
More information about these communications tools is available online at www.firstenergycorp.com/connect.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/met-ed-continues-to-make-repairs-to-system-following-devastating-winter-storm-that-impacted-entire-mid-atlantic-and-new-england-region-300607843.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 4, 2018 /PRNewswire/ -- Service has been restored to more than 131,000 Jersey Central Power & Light (JCP&L) customers who lost power following the massive winter storm that pounded the entire Mid-Atlantic and New England region this weekend.
One of the hardest hit areas was JCP&L's northern New Jersey service area that experienced 60 mph wind gusts and more than a foot of heavy, wet snow. Currently, approximately 90,000 customers remain out of service in Essex, Hunterdon, Mercer, Morris, Somerset, Sussex, Union and Warren counties.
More than 1,600 JCP&L linemen, damage assessors, hazard responders, forestry personnel, dispatchers and contractors are working to restore customer outages. In addition, more than 430 line workers from other FirstEnergy utilities and contractors are on-site or in transit to assist with restoration efforts in northern New Jersey. These crews recently completed work restoring customers in Ohio and West Virginia who lost power because of the winter storm.
"Large parts of the eastern seaboard were slammed by this winter storm and unfortunately our northern New Jersey area got hit extremely hard," said Jim Fakult, president of JCP&L. "The high winds were a big challenge to our initial restoration efforts since it was unsafe for our crews to go up in buckets and make repairs. Plus, the wet, heavy snow and hundreds of road closures made it almost impossible to travel to some damage locations. JCP&L crews and other personnel will continue to work round-the-clock to make repairs and deploy resources as needed until all customers are restored."
An additional 200 hazard responders also are in transit to New Jersey to assist with restoration efforts. Hazard responders investigate downed wires and inspect damage locations to determine what equipment might be needed to make repairs. Helicopters and aerial drones also are being used to inspect damaged power lines, especially in more remote areas.
JCP&L expects the majority of customers to be restored to service by late Tuesday. However, some customers in the hardest hit areas of northern Morris County and Sussex County will be restored by late Wednesday night.
To handle the influx of outside workers, JCP&L has set up a staging site at the Sussex County Fairgrounds in Augusta, N.J. A JCP&L mobile command center also has been set up at the fairgrounds to direct the outside workers to where they are most needed.
As part of its storm restoration process, JCP&L has taken the following steps:
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive billing reminders, weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts.
More information about these communications tools is available online at www.firstenergycorp.com/connect.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-continues-to-make-repairs-to-system-following-devastating-winter-storm-that-impacted-entire-mid-atlantic-and-new-england-region-300607830.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 1, 2018 /PRNewswire/ -- FirstEnergy (NYSE: FE) utility personnel are prepared to respond to outages caused by the high winds and wet snow forecast for the eastern U.S. beginning later today through Saturday.
Company meteorologists are monitoring a strong winter storm system that is expected to produce high winds gusting in excess of 60 mph, heavy snow or rain and possible flooding in some of FirstEnergy's service areas in Ohio, Pennsylvania, West Virginia, Maryland and New Jersey.
"We are monitoring the weather conditions closely and are making plans to deploy resources to the areas that could get hit the hardest," said Mark Julian, vice president, Utility Operations, FirstEnergy. "The ultimate goal of our pre-planning efforts is to speed the restoration process and minimize any inconvenience our customers experience due to the weather."
FirstEnergy utilities include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; Potomac Edison in Maryland; and Jersey Central Power & Light in New Jersey.
All of FirstEnergy's electric utilities are reviewing storm response plans, which include making arrangements to bring in additional line, substation and forestry personnel, and additional dispatchers and analysts at regional dispatch offices, as required, based on the severity of the weather.
As the winter storm move across from the west into Friday, if the damage in Ohio is not as severe, personnel from FirstEnergy's Ohio utilities could be deployed to assist with service restoration efforts in Pennsylvania, Maryland, West Virginia and New Jersey, as needed. FirstEnergy also has secured about 400 additional line contractors that will be assigned to areas expected to be hardest hit by the severe weather. In addition, the company has been in contact with electric industry mutual assistance organizations about the possibility of securing additional resources to assist with storm restoration efforts.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers are encouraged to prepare for the possibility of outages caused by high winds:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and Follow FirstEnergy and its operating companies on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-utilities-prepare-for-winter-storm-forecast-to-impact-the-region-beginning-today-300606947.html
SOURCE FirstEnergy Corp.
READING, Pa., Feb. 28, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $453 million in 2018 on distribution and transmission infrastructure projects to help enhance reliability for approximately 590,000 customers in the Pennsylvania Electric Company's (Penelec) service territory.
Major projects scheduled in 2018 throughout Penelec's 31-county area include building new substations and transmission lines, installing equipment in existing substations, adding remote control equipment on circuits, and inspecting and replacing utility poles.
"The proactive upgrades we have done over the years to our electric system are intended to reduce the number and duration of service disruptions our customers experience," said Scott Wyman, regional president of Penelec. "This year, we are starting work on several large transmission projects, in addition to the ongoing work we do annually on the distribution side of our electric system, to help enhance customer reliability."
FirstEnergy projects scheduled in the Penelec footprint include:
Approximately $259 million of the budgeted total will be spent on transmission-related projects owned by Mid Atlantic Interstate Transmission, LLC. (MAIT) and Trans-Allegheny Interstate Line Company (TrAILCo), both FirstEnergy transmission affiliates.
In 2017, FirstEnergy spent about $374 million in the Penelec area on large and small transmission and distribution projects.
Penelec serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of some of the Penelec infrastructure projects completed last year are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/453-million-to-be-spent-in-2018-in-penelec-service-area-to-enhance-electric-system-300605857.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 28, 2018 /PRNewswire/ -- As part of its ongoing efforts to increase the durability and resiliency of its electric system, FirstEnergy Corp. (NYSE: FE) plans to invest about $202 million during 2018 to enhance service reliability for more than 750,000 customers in The Illuminating Company's five-county northeast Ohio service area.
Projects include replacing underground circuits and expanding service in Cleveland and other areas, adding new equipment in substations, installing security and electrical protective equipment, adding remote control equipment to reduce outage durations, relocating equipment as part of road projects, and inspecting and replacing utility poles.
"Our continued work has made The Illuminating Company the most reliable and affordable electric service in the city of Cleveland and in our five-county area," said John Skory, regional president of The Illuminating Company. "The projects we completed in previous years have helped us exceed the reliability standards established by the Public Utilities Commission of Ohio and the projects planned for this year will continue to help make our service even better and allow us to expand in Cleveland and other areas."
FirstEnergy projects scheduled in Cleveland for 2018 include:
Other FirstEnergy projects scheduled in The Illuminating Company footprint:
Approximately $57 million of the budgeted total is expected to be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission affiliate.
In 2017, FirstEnergy spent about $209 million in The Illuminating Company area on hundreds of large and small transmission and distribution projects to enhance customer service reliability.
The Illuminating Company serves 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Connect with The Illuminating Company at www.illuminatingcompany.com, on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of some of The Illuminating Company infrastructure projects are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/202-million-to-be-spent-in-2018-in-the-illuminating-company-service-area-to-strengthen-electric-system-300605843.html
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Feb. 28, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $189 million in 2018 on distribution and transmission infrastructure projects to help enhance service reliability and meet future economic growth for its customers in Mon Power's 34-county West Virginia service area.
The projects include transmission enhancements to reinforce the system, constructing new distribution lines and inspecting and replacing utility poles and other equipment.
"Each year we carefully review and plan transmission and distribution projects that will enhance service to our customers, while also preparing our system for future economic growth," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "By doing proactive upgrades, we enhance the reliability and resiliency of our system and help reduce the duration and frequency of service interruptions our customers might experience."
FirstEnergy projects planned in the Mon Power footprint in 2018 include:
About $9 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
In 2017, FirstEnergy spent about $162 million in the Mon Power area on hundreds of large and small transmission and distribution projects.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of service reliability work being done in the Mon Power area are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/189-million-in-infrastructure-projects-planned-in-mon-power-area-during-2018-to-enhance-electric-system-300605854.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Feb. 28, 2018 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) plans to spend $357 million in 2018 on infrastructure projects and other work to enhance customer reliability across its 13-county northern and central New Jersey service area. Over the past 10 years, the company has invested more than $3 billion to strengthen the durability and resiliency of its electric transmission and distribution systems.
Major projects scheduled for 2018 include replacing remote-controlled substation equipment used to monitor and respond to grid conditions and replacing 34.5 kilovolt (kV) substation circuit breakers. Other scheduled work includes upgrading distribution circuit breakers and more than 90 circuit upgrades.
"Our infrastructure work and inspections enhance the reliability of our electric system, further minimizing the duration and frequency of service interruptions our customers might experience," said Jim Fakult, president of JCP&L. "In 2017, on average, JCP&L customers experienced about one outage lasting less than two hours in duration, which is better than the reliability standards established by the state utility commission."
JCP&L projects scheduled for 2018 include:
In 2017, JCP&L spent about $308 million on large and small transmission and distribution projects, including building new transmission lines, installing voltage-regulating equipment and automated controls.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of some of JCP&L's infrastructure projects completed last year are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/357-million-to-be-spent-in-2018-in-jersey-central-power--light-service-area-to-strengthen-electric-system-300605851.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 28, 2018 /PRNewswire/ -- As part of its ongoing efforts to strengthen the durability and resiliency of its electric system, FirstEnergy Corp. (NYSE: FE) expects to invest about $66 million on distribution and transmission projects to enhance reliability for customers in the Pennsylvania Power (Penn Power) western Pennsylvania service area.
Major projects scheduled for 2018 include building a modular substation, rebuilding transmission lines, building new connection points and loop circuits to increase system flexibility, adding transformers, breakers and capacitors to substations, dividing power lines into smaller segments to reduce the number of customers affected when an outage occurs, and the inspection and replacement of utility poles.
"Our goal is to pursue projects that not only enhance service to our existing customers, but also prepare our system to accommodate future economic growth," said Randall A. Frame, regional president of Ohio Edison, which owns Penn Power. "The proactive upgrades to our distribution system include the installation of automated and remote control devices designed to reduce the number and duration of service disruptions our customers might experience."
FirstEnergy projects scheduled in the Penn Power footprint in 2018 include:
About $21 million of the total spend will be for transmission projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission affiliate.
In 2017, FirstEnergy spent about $145 million in the Penn Power area on large and small transmission and distribution projects, including adding equipment to substations, rebuilding power lines, installing voltage-regulating equipment and automated controls, and replacing poles.
Penn Power serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/66-million-to-be-spent-in-2018-in-penn-power-service-area-to-strengthen-electric-system-300605845.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Feb. 28, 2018 /PRNewswire/ -- As part of its ongoing efforts to strengthen the durability and resiliency of its electric transmission and distribution systems, FirstEnergy Corp. (NYSE: FE) plans to invest about $268 million during 2018 on infrastructure upgrades to enhance service reliability in West Penn Power's 24-county service area.
Major projects scheduled include: transmission enhancements to reinforce the electric system and support economic growth, including the shale gas industry; constructing new circuits and replacing utility poles; and installing enhanced protective devices on wires and poles.
"Our goal is to pursue transmission and distribution projects that not only enhance service to our existing customers, but also help prepare our system to accommodate future economic growth," said David W. McDonald, regional president of West Penn Power. "Proactive upgrades to our distribution system include the installation of automated and remote control devices designed to reduce the number and duration of service disruptions our customers might experience."
FirstEnergy projects planned in West Penn Power's service area in 2018 include:
About $11 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
In 2017, FirstEnergy spent about $213 million in the West Penn Power area on hundreds of large and small transmission and distribution projects.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/268-million-in-infrastructure-projects-planned-in-west-penn-power-area-during-2018-to-enhance-electric-system-300605849.html
SOURCE FirstEnergy Corp.
READING, Pa., Feb. 28, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $348 million in 2018 on distribution and transmission infrastructure projects to help enhance reliability for more than 560,000 customers in the Metropolitan Edison (Met-Ed) service territory.
Major projects scheduled in 2018 include building new substations and transmission lines, installing equipment in existing substations, adding remote control equipment on circuits, and the inspection and replacement of utility poles.
"Each year we review our system to look for projects that can bring the greatest reliability benefit to the largest number of customers," said Ed Shuttleworth, regional president of Met-Ed. "For 2018, we are starting work on several large transmission projects, in addition to the on-going enhancements we do annually on the distribution side of our electric system to help reduce the number and duration of outages our customers might experience."
FirstEnergy projects scheduled in the Met-Ed footprint in 2018 include:
About $167 million of the budgeted total will be spent on transmission-related projects owned by Mid Atlantic Interstate Transmission, LLC (MAIT), a FirstEnergy transmission affiliate.
In 2017, FirstEnergy spent $195 million in the Met-Ed area on large and small distribution and transmission projects.
Met-Ed, a subsidiary of FirstEnergy Corp., serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/348-million-to-be-spent-in-2018-in-met-ed-service-area-to-strengthen-electric-system-300605852.html
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Feb. 28, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $111 million on distribution and transmission infrastructure projects in 2018 to help enhance reliability for more than 300,000 customers in Toledo Edison's northwestern Ohio service territory.
Projects scheduled include work on new transmission lines, replacing and enhancing existing transmission lines, replacing equipment used to monitor and respond to grid conditions, installing remote control equipment on distribution circuits, and inspecting and replacing utility poles.
"Over the past several years Toledo Edison has been one of the most reliable electric utilities in the state. This type of work plays a big part in keeping our system strong," said Rich Sweeney, president of Toledo Edison. "In 2017, we performed considerably better than the reliability standards established by the Public Utilities Commission of Ohio. When customers did experience an outage, power was restored in about an hour and a half."
FirstEnergy projects scheduled in the Toledo Edison footprint in 2018 include:
More than $61 million of the budgeted total will be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission affiliate.
In 2017, FirstEnergy spent about $113 million in the Toledo Edison area on hundreds of large and small transmission and distribution projects, including building new transmission lines, installing voltage-regulating equipment and automated controls, enhancing downtown Toledo's underground network, and replacing poles.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content with multimedia:http://www.prnewswire.com/news-releases/111-million-to-be-spent-in-2018-in-toledo-edison-service-area-to-help-strengthen-electric-system-300605842.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 28, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $397 million in 2018 on distribution and transmission infrastructure projects to help enhance reliability for the more than one million customers in the Ohio Edison service territory.
Major projects scheduled in 2018 throughout Ohio Edison's 34-county area include replacing underground circuits, adding new equipment in substations, rebuilding transmission lines, adding remote control equipment to reduce outage durations, relocating equipment as part of road projects, and inspecting and replacing utility poles.
"The work we do enhances the reliability and resiliency of our electric system, further minimizing the duration and frequency of service interruptions our customers might experience," said Randall A. Frame, regional president of Ohio Edison. "Our results show that in 2017 we performed better than the reliability standards established by the Public Utilities Commission of Ohio, with customers, on average, experiencing about one outage a year lasting less than 90 minutes in duration."
FirstEnergy projects scheduled in the Ohio Edison footprint in 2018 include:
More than $237 million of the budgeted total will be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission affiliate.
In 2017, FirstEnergy spent about $455 million in the Ohio Edison area on hundreds of large and small transmission and distribution projects.
Ohio Edison is a subsidiary of FirstEnergy Corp. and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of some of the Ohio Edison infrastructure projects are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Feb. 28, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $156 million in 2018 on distribution and transmission infrastructure projects to help enhance service reliability for its customers in Potomac Edison's service area in western Maryland and the Eastern Panhandle of West Virginia.
Major projects scheduled for 2018 include transmission enhancements to reinforce the system and support economic growth, constructing new distribution circuits, and inspecting and replacing utility poles and underground cables.
"These infrastructure enhancements are necessary to serve the influx of new residents and businesses to our Potomac Edison service territory," said James A. Sears, Jr., vice president of Potomac Edison. "At the same time, we also are working on projects designed to help enhance the day-to-day service we provide our customers, such as replacing older underground cables and improving existing overhead facilities."
FirstEnergy projects planned in the Potomac Edison footprint in 2018 include:
About $8 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
In 2017, FirstEnergy spent about $114 million in the Potomac Edison area on hundreds of large and small transmission and distribution projects.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 265,000 customers in seven Maryland counties and about 140,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: A photo of service reliability work done in the Potomac Edison area is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES) to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws (which filing would include FirstEnergy Nuclear Operating Company (FENOC)) and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, its subsidiaries, and FENOC, related to wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES and FENOC to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission; issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations, including the Tax Cuts and Job Act, or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. These risks, unless otherwise indicated, are presented on a consolidated basis for FirstEnergy; if and to the extent a deconsolidation occurs with respect to certain FirstEnergy companies, the risks described herein may materially change. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any obligation to update or revise, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 16, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced that its Allegheny Energy Supply subsidiary today notified PJM Interconnection (PJM), the regional transmission organization, of its plan to deactivate the coal-fired Pleasants Power Station in Willow Island, West Virginia. The 1,300-megawatt (MW) plant will be sold or closed on January 1, 2019. The plant deactivation is subject to PJM's review for reliability impacts, if any.
FirstEnergy subsidiary Mon Power filed a plan in March 2017 seeking regulatory approval to acquire the Pleasants Power Station, which would have resolved a projected 10-year energy capacity shortfall and decreased electric bills for customers. The Federal Energy Regulatory Commission (FERC) rejected the proposal on January 12, 2018. The Public Service Commission of West Virginia approved the sale subject to a number of significant conditions. Those conditions, combined with the FERC rejection, make the proposed transfer unworkable.
"Closing Pleasants is a very difficult choice because of the talented employees dedicated to reliable operation of the station and the communities who have supported the facility for many years. But the recent federal and West Virginia decisions leave FirstEnergy no reasonable option but to expeditiously move forward with deactivation of the plant," said Charles E. Jones, FirstEnergy president and chief executive officer. "We will continue to pursue opportunities to sell the plant while planning for deactivation."
The decision to deactivate the plant impacts approximately 190 employees. Affected employees may be eligible to receive severance benefits through the FirstEnergy severance plan if the plant is closed.
Located along the Ohio River in Willow Island, West Virginia, Pleasants Power Station began operation in 1979. Its two 650-megawatt generating units together produce enough electricity to power approximately 1.3 million homes.
Since 2016, FirstEnergy has announced the sale or closure of 2,471 MW of competitive generation operated in Ohio, Pennsylvania and Virginia. Following the deactivation of the 1,300-megawatt Pleasants plant, the company will own or control generating capacity totaling approximately 14,795 MW from scrubbed coal, nuclear, natural gas and renewable energy facilities across Ohio, Pennsylvania, West Virginia, New Jersey, Virginia and Illinois. FirstEnergy continues to complete the strategic review of its remaining competitive generating fleet.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 16,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Feb. 15, 2018 /PRNewswire/ -- Financial assistance programs continue to be available for Mon Power and Potomac Edison customers in West Virginia who need help with winter heating bills.
Assistance to qualifying customers is available through the West Virginia Emergency Assistance Program and the West Virginia 20 Percent Discount Program.
Mon Power and Potomac Edison residential customers also can manage their electric bills through the FirstEnergy Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other company programs, visit www.firstenergycorp.com or call 800-686-0022.
In addition to the payment options, FirstEnergy offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete a Medical Certification Form describing the resident's medical condition. The Medical Certification process also can be used to restore electric service after a customer has been disconnected.
FirstEnergy also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills, but can help make payment arrangements for the customer who might have difficulty paying their bill.
Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE) serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
Potomac Edison, also a subsidiary of FirstEnergy Corp., serves about 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy
WILLIAMSPORT, Md., Feb. 15, 2018 /PRNewswire/ -- Financial assistance programs continue to be available for Potomac Edison customers in Maryland who need help with winter heating bills.
Assistance to qualifying customers is available through the Community Energy Fund, the Maryland Energy Assistance Program, the Electric Universal Service Program, and the Utility Service Protection Program.
Potomac Edison residential customers also can manage their electric bills through the FirstEnergy Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other company programs, visit www.firstenergycorp.com or call 800-686-0011.
In addition to the payment options, FirstEnergy offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete a Medical Certification Form describing the resident's medical condition. The Medical Certification process also can be used to restore electric service after a customer has been disconnected.
FirstEnergy also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills, but can help make payment arrangements for the customer who might have difficulty paying their bill.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 257,000 customers in seven Maryland counties and about 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy
AKRON, Ohio, Feb. 15, 2018 /PRNewswire/ -- Financial assistance programs continue to be available for FirstEnergy customers in Ohio who need help with winter heating bills. FirstEnergy's Ohio utilities include Ohio Edison, The Illuminating Company and Toledo Edison.
Assistance to qualifying customers is available through the Home Energy Assistance Program (HEAP), Percentage of Income Payment Plan Plus, the $175 Winter Reconnection Option and Ohio Partners for Affordable Energy.
Specific customer assistance programs also are available for each utility:
The Illuminating Company
Ohio Edison
Toledo Edison
FirstEnergy Ohio utility residential customers also can manage their electric bills through the FirstEnergy Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other company programs, visit www.firstenergycorp.com or call 800-589-3101.
In addition to the payment options, FirstEnergy offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete a Medical Certification Form describing the resident's medical condition. The Medical Certification process also can be used to restore electric service after a customer has been disconnected.
FirstEnergy also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills, but can help make payment arrangements for the customer who might have difficulty paying their bill.
The Illuminating Company serves 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Connect with The Illuminating Company at www.illuminatingcompany.com, on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
Ohio Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy
GREENSBURG, Pa., Feb. 15, 2018 /PRNewswire/ -- Financial assistance programs continue to be available for FirstEnergy customers in Pennsylvania who need help with winter heating bills.
FirstEnergy's Pennsylvania utilities include Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power Company (Penn Power), and West Penn Power Company (West Penn Power).
Assistance to qualifying customers is available through the Dollar Energy Fund, the Low-Income Home Energy Assistance Program (LIHEAP) and the Pennsylvania Customer Assistance Program (PCAP).
FirstEnergy Pennsylvania residential customers also can manage their electric bills through the FirstEnergy Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other company programs, visit www.firstenergycorp.com or call 800-545-7741.
In addition to the payment options, FirstEnergy offers a Medical Certification program. Disconnection of electric service resulting from overdue bills can be delayed up to 30 days if it is determined that the loss of electric service would be especially dangerous to the health of a permanent member of a customer's household. An appropriate health care professional must complete a Medical Certification Form describing the resident's medical condition. The Medical Certification process also can be used to restore electric service after a customer has been disconnected.
FirstEnergy also offers a program called Third Party Notification where a relative, friend, clergy, or social service agency can be notified along with the customer if electric service is about to be disconnected. The third party is not obligated to pay the overdue bills, but can help make payment arrangements for the customer who might have difficulty paying their bill.
Met-Ed serves about 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
Penn Power serves approximately 163,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower.
West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy Corp. (NYSE: FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy
AKRON, Ohio, Feb. 13, 2018 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the fourth quarter and full year of 2017 after markets close on Tuesday, February 20. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EST on Wednesday, February 21. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its fourth quarter Consolidated Report to the Financial Community and other supporting materials to the investor section of the website after markets close on February 20.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Feb. 13, 2018 /PRNewswire/ -- As the cold weather continues, financial assistance programs are available for Jersey Central Power & Light (JCP&L) customers who need help with winter heating bills.
Assistance to qualifying JCP&L customers is available through the Lifeline, Universal Service Fund (USF), Weatherization, Payment Assistance for Gas and Electric (PAGE) and New Jersey SHARES programs.
JCP&L residential customers also can manage their electric bills through the FirstEnergy Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other JCP&L programs, visit www.firstenergycorp.com or call 1-800-662-3115.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 22, 2018 /PRNewswire/ -- FirstEnergy Corp (NYSE: FE) today announced a $2.5 billion investment in the company that includes $1.62 billion in mandatory convertible preferred equity and $850 million of common equity. The investment comes from prominent investors, including affiliates of Elliott Management Corporation (Elliott), Bluescape, GIC, and Zimmer Partners, LP (Zimmer).
The preferred equity has an initial conversion price of $27.42 per share and will receive dividends payable on FirstEnergy common stock on an as-converted basis and be non-voting, except in limited circumstances. The common equity was issued at a price of $28.22 per share. The proceeds of the private offering will be used to reduce FirstEnergy's holding company debt, contribute to its pension fund, and for general corporate purposes. The investment also will strengthen the company's investment-grade balance sheet.
FirstEnergy previously disclosed that it expected to issue at least $1.5 billion of common equity through 2019, and this investment will satisfy that need in addition to positioning FirstEnergy to better capture incremental utility growth opportunities. As a result, the company does not anticipate the need to issue additional equity through the end of 2020 outside of its stock investment plans and employee benefits programs.
As part of this transaction, FirstEnergy will form a Restructuring Working Group (RWG) to maximize value and certainty to FirstEnergy, while minimizing the timing to exit competitive generation. FirstEnergy has designated three members of the working group: Jim Pearson, executive vice president and chief financial officer; Leila Vespoli, executive vice president of corporate strategy, regulatory affairs and chief legal officer; and Gary Benz, senior vice president of strategy. The RWG's two outside members are industry professionals C. John Wilder, executive chairman of Bluescape, and Anthony (Tony) Horton, chief financial officer and executive vice president of Energy Future Holdings Corp.
"We are pleased that these premier investors are demonstrating confidence in our plan to transform FirstEnergy into a fully regulated utility," said Charles E. Jones, president and chief executive officer of FirstEnergy. "Elliott and Bluescape have proven value-added expertise and investment acumen in power and utility restructurings. This investment will enable us to accelerate FirstEnergy's growth and infrastructure improvement plans for our transmission and distribution business, which will benefit our six million customers."
"This meaningful equity investment and renewed focus on FirstEnergy's substantial regulated investment opportunities across its utility franchise, along with the RWG's laser focus on helping the company exit competitive generation in a constructive and timely manner, will transform FirstEnergy into a premier, high performance pure-play regulated utility," said C. John Wilder of Bluescape. "I am extremely excited to work with the RWG to transform FirstEnergy and I believe there is substantial opportunity to increase value for all stakeholders and to greatly accelerate FirstEnergy's repositioning to a high performance regulated utility."
"I want to thank Chuck and his team for working constructively with Elliott on today's announced investment," said Jeff Rosenbaum, portfolio manager at Elliott. "We are supportive of FirstEnergy's transition to a pure-play collection of pristine, fully regulated utility companies. We believe a strengthened balance sheet, coupled with the creation of the RWG, will assist in navigating this transition and lead to tremendous value creation and certainty for FirstEnergy shareholders."
The transaction was facilitated by FirstEnergy's legal advisor, Jones Day, and financial advisor, Moelis & Company LLC. Ropes & Gray served as Elliott's legal advisor.
Elliott Management Corporation manages two multi-strategy hedge funds, which combined have approximately $34 billion of assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest hedge funds under continuous management. The Elliott funds' investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds, high net worth individuals and families, and employees of the firm.
Bluescape, founded in 2007, is a private investment firm focused on value-oriented investments in the upstream oil, gas and power industries. Bluescape employs a unique approach and long-term perspective, helping position companies for growth and value creation by providing capital and strategic oversight with its multi-disciplined team of executive-level managers, operators, strategic consultants and restructuring advisors.
GIC, Singapore's sovereign wealth fund, was established in 1981 to secure the financial future of Singapore by managing the country's foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments globally as well as across a wide range of asset classes including equities, fixed income, private equity, real estate and infrastructure. For more information, please visit http://www.gic.com.sg
Zimmer Partners, LP is a registered investment advisory firm located in New York, focused on utility and infrastructure-related investments.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Today FirstEnergy sent the following letter to the investment community:
TO THE INVESTMENT COMMUNITY:
FirstEnergy Corp. Announces Transformational $2.5 Billion Equity Investment
Strengthens Balance Sheet and Supports Transition to Fully Regulated Utility Company
Reaffirms 5% to 7% Regulated Operating EPS Growth Target through 2019
On January 22, 2018, FirstEnergy Corp. (FE) announced a transformational $2.5 billion equity investment from prominent investors, including affiliates of Elliott Management Corporation (Elliott), Bluescape, GIC, and Zimmer Partners, LP (Zimmer). This landmark investment will serve as an important step toward unlocking the full value of FE for all shareholders:
Increased Financial Flexibility
This equity investment allows FE to significantly strengthen its balance sheet and supports the company's transition to a fully regulated company. By deleveraging the company, this investment will also enable FE to enhance its investment grade credit metrics and eliminate the need to issue incremental equity though at least year-end 2020, excluding approximately $100 million annually for its stock investment and employee benefits plans.
The $2.5 billion investment includes $1.62 billion in mandatorily convertible preferred equity with an initial conversion price of $27.42 per share and $850 million of common equity issued at $28.22 per share. The preferred shares will receive the same dividend paid on FE common stock on an as-converted basis and are non-voting except in certain limited circumstances. The new preferred shares contain an optional conversion for holders beginning in six months, and will mandatorily convert in 18 months, subject to a limited exception. Elliott, Bluescape and GIC are preferred equity investors. Zimmer is the common equity investor.
Proceeds from the investment will be used to reduce FE holding company debt by $1.45 billion, fund FE's pension by $750 million, with the remainder used for general corporate purposes. This transformational investment significantly strengthens FE's balance sheet and enhances its credit metrics.
On January 5, 2018, FE made a $500 million contribution to its pension plan. The additional $750 million contribution results in no required contributions in 2019 and 2020, and FE estimates a 2021 contribution of approximately $80 million. The $1.25 billion 2018 pension contributions will result in lower pension expense beginning in 2018.
FE previously disclosed it expected to issue at least $1.5 billion of common equity through 2019, and this investment fulfills that expectation. As a result, FE does not anticipate the need to issue additional equity through at least the end of 2020 outside of its regular stock investment and employee benefit plans. FE is also reaffirming its 5% to 7% regulated operating EPS growth target (8% to 10% including the Ohio DMR) through 2019 from the 2016 base year regulated operating EPS of $2.46 per share.*
This transaction positions FE for sustained investment grade credit metrics, including potential impacts from the Federal Tax Cuts and Jobs Act. Although subject to FE Board approval, FE expects to maintain a competitive dividend at the current level of $1.44 per share. Pro-forma as of December 31, 2017 for these equity investments, FE expects to have 534 million shares outstanding on a fully diluted basis.
* Compound Annual Growth Rate using 2016 operating earnings (non-GAAP) for Regulated Distribution of $1.81 per share and Regulated Transmission of $0.78 per share, with an adjustment of ($0.13) per share for the impact of weather. See page 4 for reconciliation between GAAP and Operating (non-GAAP) earnings. Mid-point of 5% to 7% growth rate assumes preferred equity converts on the mandatory conversion date in July 2019.
Creation of Restructuring Working Group
As part of this transaction FE will form a RWG to maximize value and certainty to FE, while minimizing the timing to full resolution for all stakeholders. FE has designated three members of the working group: Jim Pearson, executive vice president and chief financial officer; Leila Vespoli, executive vice president, corporate strategy, regulatory affairs and chief legal officer; and Gary Benz, senior vice president of strategy. The RWG's two outside members are industry professionals C. John Wilder, executive chairman of Bluescape, and Anthony (Tony) Horton, chief financial officer and executive vice president of Energy Future Holdings Corp. The RWG will advise company management regarding a rapid and constructive restructuring of FirstEnergy Solutions (FES) in the event the FES Board decides to seek bankruptcy protection.
Focus on Regulated Businesses
Importantly, these equity investments and formation of the RWG underscore the significant opportunity in FE's regulated growth strategy, support FE Board and senior management focus on growth in the regulated distribution and transmission businesses, and reposition FE as a premier, high-growth, pure-play regulated utility. The transaction positions FE for additional future investments across its utility footprint, including near-term opportunities for grid modernization in Ohio and infrastructure improvement in New Jersey, which would translate into incremental EPS growth. A crisp focus on capital allocation to the regulated utilities is expected to provide meaningful benefits to FE's six million customers, shareholders and other stakeholders.
Upcoming FirstEnergy Investor Events
FirstEnergy Corp. 4th Quarter Earnings Call
February 21, 2018
If you have any questions, please contact me at (330) 384-3859, Meghan Beringer, director of Investor Relations at (330) 384-5832, or Jake Mackin, manager of Investor Relations at (330) 384-4829.
Sincerely,
Irene M. Prezelj
Vice President
Investor Relations
2016A GAAP to Operating (Non-GAAP) Earnings1 Reconciliation
(In millions, except per share amounts)
Year Ended December 31, 2016 |
|||||||||
Competitive |
FirstEnergy | ||||||||
Regulated |
Regulated |
Energy |
Corporate / |
Corp. | |||||
Distribution |
Transmission |
Services |
Other |
Consolidated | |||||
2016 Net Income (Loss) - GAAP |
$ 651 |
$ 331 |
$ (6,919) |
$ (240) |
$ (6,177) | ||||
2016 Basic EPS (avg. shares outstanding 426M) |
$ 1.53 |
$ 0.78 |
$ (16.23) |
$ (0.57) |
$ (14.49) | ||||
Excluding Special Items: |
|||||||||
Mark-to-market adjustments - |
|||||||||
Pension/OPEB actuarial assumptions |
0.15 |
- |
0.06 |
- |
0.21 | ||||
Other |
- |
- |
0.01 |
- |
0.01 | ||||
Merger accounting - commodity contracts |
- |
- |
0.05 |
- |
0.05 | ||||
Regulatory charges |
0.13 |
- |
- |
- |
0.13 | ||||
Asset impairment/Plant exit costs |
- |
- |
16.67 |
- |
16.67 | ||||
Debt redemption costs |
- |
- |
0.01 |
0.01 |
0.02 | ||||
Trust securities impairment |
- |
- |
0.03 |
- |
0.03 | ||||
Total Special Items |
$ 0.28 |
$ - |
$ 16.83 |
$ 0.01 |
$ 17.12 | ||||
Basic EPS - Operating (Non-GAAP) |
$ 1.81 |
$ 0.78 |
$ 0.60 |
$ (0.56) |
$ 2.63 |
1 Operating earnings exclude special items as described in the reconciliation table above and is a non-GAAP financial measure.
Per share amounts for the special items and earnings drivers above and throughout these materials are based on the after-tax effect of each item divided by the weighted average basic shares outstanding for the period. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount with the exception of Asset impairment/Plant exit costs that included an impairment of goodwill, of which $433 million of the $800 million pre-tax impairment was non-deductible for tax purposes, and valuation allowances against state and local NOL carryforwards of $159 million. With the exception of these items included in Asset impairment/Plant exit costs, the income tax rates range from 35% to 41%.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
FirstEnergy Corp.
76 S. Main Street
Akron, OH 44308
www.firstenergycorp.com
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 16, 2018 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable March 1, 2018, to shareholders of record at the close of business on February 7, 2018.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 11, 2018 /PRNewswire/ -- For the 12th consecutive year, FirstEnergy Corp. (NYSE: FE) has earned recognition for its emergency response efforts from the Edison Electric Institute (EEI), a leading electric industry organization.
FirstEnergy was honored with the "Emergency Assistance Award" as a result of sending more than 600 line workers and support personnel to assist Florida Power and Light, Duke Energy Florida, Tampa Electric Company and South Carolina Electric and Gas after Hurricane Irma caused wide-spread damage and large-scale power outages in Florida and South Carolina. Over a 15-day period in early September last year, FirstEnergy personnel were part of an effort that ultimately helped restore electric service to more than 4 million customers.
FirstEnergy also earned the "Emergency Recovery Award" for restoration efforts on behalf of its own customers following confirmed tornados and severe thunderstorms that caused nearly 350,000 FirstEnergy customers in Pennsylvania and Ohio to lose power in early May of last year. Overall, more than 480 utility poles and 280 transformers were replaced, along with approximately 52 miles of wire. FirstEnergy crews were able to restore about 95 percent of the affected customers within four days.
"The tireless work by FirstEnergy crews during Hurricane Irma and during the thunderstorms and high winds in May exemplifies our industry's commitment to customer service," said EEI President Tom Kuhn. "FirstEnergy crews worked diligently to safely restore service to customers and are deserving of these awards."
"Receiving both awards is a special honor because it means our employees used their considerable skills to benefit our own customers, and those of other utilities," said Steven Strah, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "Hurricane Irma was a historic storm that caused multiple challenges that our employees were able to overcome, including hazardous travel conditions, a heat index up to 110 degrees, and massive tree damage."
EEI presents awards twice annually to member companies to recognize extraordinary efforts to restore power or for assisting other electric companies after service disruptions caused by severe weather conditions and other natural events. Winners are chosen by a panel of judges following an international nomination process. The awards were presented January 10, 2018, during the winter EEI Board of Directors and CEO meeting in Arizona.
EEI is the association that represents all U.S. investor-owned electric companies. Members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition, EEI has more than 60 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
Editor's Note: A photo of Steven Strah, senior vice president of FirstEnergy and president of FirstEnergy Utilities, accepting the emergency response award from EEI President Tom Kuhn is available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Dec. 28, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has completed upgrades on more than 80 major circuits this year to help enhance service reliability to approximately 175,000 customers in about 150 communities in northern and central New Jersey.
The $4.7 million program included: installing 750 new pieces of high tech equipment to help pinpoint problem areas and restore service automatically; placing 250 animal guard devices on poles and in substations to limit the number of outages caused by squirrels, birds and other critters; attaching 390 lightning arrestors on electrical equipment to help protect the system from stormy weather; and proactively replacing 50 poles, 330 crossarms and about 18,000 feet of wire.
"Upgrading our distribution circuits is an important part of the overall work we do because it focuses on enhancing the part of our electrical equipment that is closest to our customers," said Mark Jones, vice president of Operations for JCP&L. "These projects are designed to reduce the number of service interruptions our customers might experience or reduce the duration if an outage occurs."
Over the past five years, JCP&L has completed similar upgrades for more than 500 circuits.
During 2017, multiple projects were included to enhance circuits in the following counties and municipalities:
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of JCP&L's circuit enhancement work are available for download on Flickr.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Dec. 21, 2017 /PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), announced that residential customers will see about a $2.00 decrease in their monthly bill beginning in 2018 as a result of Public Service Commission (PSC) of West Virginia orders regarding enhanced tree trimming and energy efficiency programs.
The first order approves a settlement of a Vegetation Management Surcharge filing that decreases by about $15 million costs associated with a multi-year vegetation management plan designed to help reduce the frequency and duration of tree-related power outages. The second order approves a filing by the companies requesting a $5.4 million reduction in the costs to operate energy efficiency programs in the utilities' West Virginia service areas in 2018.
Taken together, the orders will lower the monthly bill for a typical residential customer using 1,000 kilowatt-hours of electricity by about 1.7 percent or $ 1.95. The savings components include a $1.44 decrease for tree trimming and a $0.51 decrease for energy efficiency costs.
Since the enhanced tree trimming program began in April 2014, forestry crews have trimmed trees ground to sky along more than 19,000 miles of transmission and distribution line right-of-way. The work helps reduce the risk of overhanging limbs getting into electrical equipment and causing outages. The remaining 11,000 miles will be completed in 2018 and 2019. To date, more than 2.9 million trees have been trimmed and about 800,000 dead or dying trees have been removed.
"The enhanced vegetation management program is a vast undertaking, considering that the 30,000 miles of power line right-of-way in our West Virginia service area exceeds the circumference of the Earth," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "Our customers have benefitted from the work, experiencing fewer and shorter tree-related outages since the program was implemented."
Mon Power serves about 385,000 customers in the northern half of West Virginia and Potomac Edison serves about 140,000 customers in the state's Eastern Panhandle. Follow the companies on Twitter @MonPowerWV and @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's enhanced tree trimming program are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 20, 2017 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), has promoted Barry Blair to general plant manager of the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. In this position, he is responsible for overseeing the Operations, Radiation Protection, Chemistry and Maintenance activities at the plant and reports to Davis-Besse Site Vice President Mark Bezilla. Blair succeeds David Imlay, who is retiring after 30 years with the company.
A 29-year nuclear industry veteran, Blair began his career at Perry in 1988 as a design engineer. He has held a number of engineering positions at the plant, including manager of Plant Engineering and manager of Technical Services Engineering. Blair earned a senior reactor operator license at Perry in 2009 and was named manager of Maintenance in 2013. He most recently has served as manager of Operations.
"Barry has played an important leadership role in strengthening performance at Perry, and Davis-Besse will benefit from his extensive engineering experience and solid understanding of plant operations," said Bezilla.
Blair holds a bachelor of science degree in Mechanical Engineering from Penn State University.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its FENOC subsidiary operates the Beaver Valley Power Station in Shippingport, Pa., the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter @Perry_Plant, @BVPowerStation, and @DavisBesse.
Editor's Note: A photo of Blair is available on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 18, 2017 /PRNewswire/ -- The FirstEnergy Foundation has presented surprise Gifts of the Season of $1,000 each to 12 non-profit agencies working to make lives better in communities across its Jersey Central Power & Light service areas.
"We're pleased to provide this surprise support to so many agencies throughout New Jersey, particularly during the holidays, when the services they provide to the least fortunate are often most vital," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their areas that do extraordinary work to make our communities better. Our goal was to focus on programs that enhance children's services, or provide additional support for organizations facing a critical need during the holiday season."
Recipients include:
These gifts are part of the FirstEnergy Foundation's "Gifts of the Season" campaign, which includes a total of 132 $1,000 gifts given to 132 non-profits across the company's six-state service area and in communities where the company does business.
Jersey Central Power & Light is a subsidiary of FirstEnergy Corp. serving about 1.1 million electric customers in New Jersey.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 18, 2017 /PRNewswire/ -- The FirstEnergy Foundation has presented surprise Gifts of the Season of $1,000 each to 12 non-profit agencies working to make lives better in Potomac Edison's service area.
"We're pleased to provide this surprise support to so many agencies throughout Maryland, particularly during the holidays, when the services they provide to the least fortunate are often most vital," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their areas that do extraordinary work to make our communities better. Our goal was to focus on programs that enhance children's services, or provide additional support for organizations facing a critical need during the holiday season."
Recipients are:
These gifts are part of the FirstEnergy Foundation's "Gifts of the Season" campaign, which includes a total of 132 $1,000 gifts given to 132 non-profits across the company's six-state service area and in communities where the company does business.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 18, 2017 /PRNewswire/ -- The FirstEnergy Foundation has presented surprise Gifts of the Season of $1,000 each to 40 non-profit agencies working to make lives better in Ohio communities where FirstEnergy has utilities or power plants.
"We're pleased to provide this surprise support to so many agencies throughout Ohio, particularly during the holidays, when the services they provide to the least fortunate are often most vital," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their areas that do extraordinary work to make our communities better. Our goal was to focus on programs that enhance children's services, or provide additional support for organizations facing a critical need during the holiday season."
Recipients in Ohio Edison's service area are:
Recipients in The Illuminating Company's Service area are:
Recipients in Toledo Edison's service area are:
Recipients near the W.H. Sammis Plant in Stratton, Ohio, include:
These gifts are part of the FirstEnergy Foundation's "Gifts of the Season" campaign, which includes a total of 132 $1,000 gifts given to 132 non-profits across the company's six-state service area and in communities where the company does business.
Ohio Edison, The Illuminating Company and Toledo Edison are subsidiaries of FirstEnergy Corp. The W.H. Sammis Plant is owned by FirstEnergy Generation, LLC., a subsidiary of FirstEnergy.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 18, 2017 /PRNewswire/ -- The FirstEnergy Foundation has presented surprise Gifts of the Season of $1,000 each to 12 non-profit agencies working to make lives better in Mon Power's service area.
"We're pleased to provide this surprise support to so many agencies throughout West Virginia, particularly during the holidays, when the services they provide to the least fortunate are often most vital," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their areas that do extraordinary work to make our communities better. Our goal was to focus on programs that enhance children's services, or provide additional support for organizations facing a critical need during the holiday season."
Recipients are:
These gifts are part of the FirstEnergy Foundation's "Gifts of the Season" campaign, which includes a total of 132 $1,000 gifts given to 132 non-profits across the company's six-state service area and in communities where the company does business.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 18, 2017 /PRNewswire/ -- The FirstEnergy Foundation has presented surprise Gifts of the Season of $1,000 each to 56 non-profit agencies working to make lives better in Pennsylvania communities where FirstEnergy has utilities or power plants.
"We're pleased to provide this surprise support to so many agencies throughout Pennsylvania, particularly during the holidays, when the services they provide to the least fortunate are often most vital," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their areas that do extraordinary work to make our communities better. Our goal was to focus on programs that enhance children's services, or provide additional support for organizations facing a critical need during the holiday season."
Recipients in Pennsylvania Electric Company's (Penelec) service area are:
Recipients in Metropolitan Edison Company's (Met-Ed) service area include:
Recipients in West Penn Power Company's service area are:
Recipients in Pennsylvania Power Company's (Penn Power) service area include:
Recipients in areas near the Beaver Valley Power Station and the Bruce Mansfield Plant include:
These gifts are part of the FirstEnergy Foundation's "Gifts of the Season" campaign, which includes a total of 132 $1,000 gifts given to 132 non-profits across the company's six-state service area and in communities where the company does business.
Penelec, Met-Ed, West Penn Power and Penn Power are subsidiaries of FirstEnergy Corp. Beaver Valley Power Station is owned by FirstEnergy Nuclear Operating Company, a subsidiary of FirstEnergy Corp. Bruce Mansfield Plant is owned by FirstEnergy Generation LLC., a subsidiary of FirstEnergy Corp.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 14, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is seeking permits to build the Center for Advanced Energy Technology, an 88,000 square-foot facility in Akron, Ohio, dedicated to evaluating, testing and training staff on new, digital grid technologies that enhance the company's ability to serve customers.
The Center will support FirstEnergy's efforts to modernize the electric grid across its six-state territory. It will provide engineers and other technicians with a hands-on environment for upgrading and maintaining the power grid by simulating real-world conditions on the electric transmission system.
Approximately 20-25 FirstEnergy employees will be assigned to staff the new facility, which will provide classroom space for training up to 50 people on new grid technologies, including digital relay devices that can remotely pinpoint the location of an equipment failure. The facility will also be used for evaluating and testing equipment to ensure that it complies with the latest industry standards, including cybersecurity.
"The Center will directly support FirstEnergy's efforts to design and build a smarter energy infrastructure," said Carl Bridenbaugh, vice president, Transmission. "Across our system, we're replacing older, mechanical devices with new digital devices that can be remotely monitored and can react to real-time issues on the electric grid. Having a facility where we can evaluate and test these technologies under real-world conditions will help us keep power flowing to our customers around the clock."
The facility will cost approximately $37 million and will be located next to FirstEnergy's existing West Akron campus. The company will seek the necessary permits from the city to build the Center and expects to break ground for the facility next spring.
FirstEnergy expects to submit this project to be considered for the U.S. Green Building Council's Leadership in Energy and Environmental Design (LEED) certification. LEED is an internationally recognized third-party green building certification system that recognizes buildings that have met the highest possible green building standards and verifies a project's level of environmental responsibility and ability to provide occupants with a healthy place to live and work.
The Center will support Energizing the Future, a multi-year investment initiative aimed at upgrading FirstEnergy's transmission facilities with advanced equipment and technologies that will reinforce the power grid and help reduce the frequency and duration of customer outages. Since 2014, FirstEnergy has upgraded or replaced existing transmission lines, incorporated new, smart technology into the grid, and outfitted dozens of substations with new equipment and enhanced security features. These upgrades are producing reliability improvements across the company's transmission system.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
READING, Pa., Dec. 11, 2017 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Metropolitan Edison (Met-Ed), Pennsylvania Electric (Penelec), Pennsylvania Power (Penn Power), and West Penn Power utility companies have filed plans with the Pennsylvania Public Utility Commission (PPUC) to procure electric generation supply beginning June 2019 for customers who choose not to shop with alternate suppliers. Because the companies do not own any electric generating plants, an auction process will be used to ensure the utilities' approximately two million customers in Pennsylvania have a secure supply of electric generation.
The procurement process will be managed by CRA International, Inc. (CRA), a global consulting firm with expertise in energy markets. Under the proposed plan, CRA will conduct multiple auctions with generation prices calculated based on a blended average by customer class. The first auction will be held between October 20 and November 20, 2018, with others scheduled in January, April, and June of 2019.
The auction process will ensure the confidentiality of information provided by bidders, which will be required to certify that they are creditworthy, acting independently of other bidders, and are making firm offers to provide generation service to customers.
The proposed program also includes a process for meeting state-mandated alternative energy standards, including a separate bidding process in order to meet a portion of the solar energy requirements through two requests for proposals for two-year contracts for the purchase of solar Renewable Energy Credits.
Additionally, the rate filings include the continuation of the Customer Referral Program that was established in August 2013 to help enhance retail competition in the utilities' service territories.
The companies also are proposing a change for commercial customers served on the GS Medium Rate Schedules with demand usage billing in excess of 100 kilowatt hours. Rather than use the current system of fixed default service prices that change quarterly, the companies want to move qualifying customers to an hourly pricing schedule. Affected customers will be notified by the companies and provided education prior to any change taking effect.
Information about the filing and the proposed procurement program is available on the companies' individual company webpages found at www.firstenergycorp.com.
The companies expect that the PPUC will rule on their Default Service Program petition in mid-2018.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter: @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Dec. 8, 2017 /PRNewswire/ -- To help customers with their utility bills during the winter season, Jersey Central Power & Light (JCP&L) and the Affordable Housing Alliance are holding walk-in registration events for the Low-Income Home Energy Assistance (LIHEAP) and Payment Assistance for Gas and Electric (PAGE) programs.
The events are scheduled from 10:00 a.m. to 2:00 p.m. at the following JCP&L office locations and will allow customers to work directly with representatives from the assistance organizations to easily submit the required applications:
Similar events also will be scheduled beginning in January.
To see if they qualify for the assistance programs, customers should visit http://www.njpoweron.org. As part of the qualification process, applicants will need to bring copies of required documents, including driver's license, social security card, pay stubs, proof of residence and recent utility bills when they attend one of the meetings.
LIHEAP is designed to help low-income families and individuals meet home heating and medically necessary cooling costs. For more information call 1-800-510-3102. PAGE is an assistance program designed to help low-to moderate-income households who experience economic hardship pay their electric and natural gas bills. For more information visit www.NJPowerOn.org or call 1-732-982-8710.
JCP&L residential customers also can manage their electric bills through the FirstEnergy Equal Payment Plan (EPP). With EPP, customers can make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other JCP&L programs, visit www.firstenergycorp.com or call 1-800-662-3115.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 7, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) and its subsidiaries are rebuilding and modernizing an existing transmission line to enhance service reliability for Ohio Edison customers in Portage and Trumbull counties. When completed later this month, the upgraded line will reinforce the local electric system and use smart technologies to help reduce the frequency and duration of power outages.
The $26 million project involves replacing the existing 69-kilovolt (kV) line with a new set of poles and wires that will connect existing electric substations in Garrettsville and Newton Falls, Ohio. New switching devices that can be remotely monitored and controlled are being added to the line to allow grid operators to respond to operational conditions more quickly, which can prevent or reduce the duration of power outages.
New equipment will also be added to the two substations to handle the line's increased capacity and support growing electric demand. Construction is now underway, with the new line expected to be energized by the end of this year.
"By rebuilding and modernizing an existing line, we can enhance our ability to serve customers while minimizing the project's impact on local communities and the environment," said Randy Frame, regional president, Ohio Edison. "The new line and remote-control equipment will help strengthen and modernize the grid, and increase the flexibility and redundancy of our system."
The project is part of Energizing the Future, a multi-year investment initiative aimed at upgrading FirstEnergy's transmission facilities with advanced equipment and technologies that will reinforce the power grid and help reduce the frequency and duration of customer outages. Since 2014, FirstEnergy has upgraded or replaced existing transmission lines, incorporated new, smart technology into the grid, and outfitted dozens of substations with new equipment and enhanced security features. These upgrades are producing reliability improvements across the company's transmission system.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 6, 2017 /PRNewswire/ -- Nine fossil and nuclear generating stations owned by subsidiaries of FirstEnergy Corp. (NYSE: FE) in Ohio, Pennsylvania and West Virginia today have completed comprehensive preventive maintenance work to help them operate reliably this winter, when increased heating needs raise the demand for electricity.
"FirstEnergy's coal and nuclear plants are resilient facilities that provide electricity when customers need it most," said Don Moul, president, FirstEnergy Generation. "Because the plants maintain large quantities of onsite fuel, they are not affected by fuel delivery disruptions that occur due to ice, snow and extreme cold temperatures. Our seasonal work activities add another layer of assurance that these plants will continue to operate reliably during all types of weather."
FirstEnergy's nuclear plants follow a 13-part winter readiness program, and its coal plants implement a similar, eight-step process. These programs outline inspections of buildings, equipment and heating systems, guide key weatherization activities, and establish seasonal-specific training for plant personnel. In total, more than 500 maintenance activities have been completed at the company's coal and nuclear plants in preparation for winter.
To prepare for frigid temperatures and icy conditions, plant operators have installed storm barriers to protect equipment from harsh weather, set up heating elements that provide additional warmth to piping and in areas most susceptible to cold, added anti-freeze to equipment, and increased fuel stockpiles at coal-fired facilities.
Throughout the cold months, operators will run water pumps more often to avoid freezing, keep oil flow within transformers more constant, and take precautions to prevent cooling towers from icing. FirstEnergy will also stay in close contact with PJM Interconnection, L.L.C., the regional grid operator, to avoid scheduling plant maintenance work during periods of high electricity demand.
"While we place special attention on verifying the readiness of our equipment and operations prior to seasonal changes, our power plants are inspected and maintained year-round to promote safe, efficient performance," said Sam Belcher, chief nuclear officer for FirstEnergy Nuclear Operating Company (FENOC). "Projects completed throughout the year complement our winter preparation activities and ensure top performance no matter the weather."
A number of long-term reliability projects have been completed at FirstEnergy generating facilities in 2017. A new, large transformer that connects the Perry Nuclear Power Plant in Perry, Ohio, with the electrical grid was installed at the site during its spring refueling outage, ensuring a critical power source is available for plant operation. Turbine and boiler work has been completed to continue reliable performance at the coal-fired Bruce Mansfield Power Plant in Shippingport, Pa. and W. H. Sammis Power Plant in Stratton, Ohio. In addition, refurbishment of the cooling tower is nearing completion at the Fort Martin Power Station in Maidsville, W.Va.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, and its subsidiaries control nearly 17,000 megawatts of generation capacity. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of some of the reliability projects at FirstEnergy's generating stations are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 4, 2017 /PRNewswire/ -- The FirstEnergy Foundation will surprise 132 deserving nonprofit agencies in the FirstEnergy Corp. (NYSE: FE) area with $1,000 donations over the coming weeks as part of its "12 Gifts of the Season" holiday campaign.
This year's program represents an expansion from last year, when 12 organizations received surprise $5,000 donations. In addition, a similar "Christmas in July" campaign resulted in 12 agencies in communities where FirstEnergy has operations each receiving $10,000 donations earlier this year.
"The response last year from the agencies receiving the surprise gifts was overwhelming, and we decided to expand the program to share the spirit of the holidays with a greater number of worthy organizations," said Dee Lowery, president of the FirstEnergy Foundation. "The winners were chosen secretly by FirstEnergy employees, who identified organizations in their areas that do extraordinary work to make our communities better. Our goal was to focus on programs that enhance children's services, or provide additional support for organizations facing a critical need during the holiday season."
In total, more than $132,000 will be presented to the agencies beginning today through December 15 in areas where FirstEnergy has utilities and power plants. To heighten the holiday cheer, the organizations will not be notified prior to the gifts being delivered.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: FirstEnergy will release the names of the gift recipients after all gifts have been delivered.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 1, 2017 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio utilities filed a plan today at the Public Utilities Commission of Ohio (PUCO) aimed at reducing the frequency and duration of power outages by redesigning and modernizing portions of their distribution system.
The plan outlines a three-year, $450 million investment in projects that will create a stronger distribution system serving customers of Ohio Edison, Cleveland Electric Illuminating and Toledo Edison. The projects will help restore power faster, strengthen the system against adverse weather conditions, and enhance system performance by giving operators the ability to monitor and react to issues on the grid in real time.
The proposed projects will particularly focus on redesigning certain distribution lines across FirstEnergy's Ohio footprint that have experienced power outages in the past. On average, FirstEnergy expects this work could reduce outages under normal conditions by as much as 30 percent or more, and speed restoration time by up to 25 percent on power lines targeted in the plan.
"Portions of our system were originally designed to serve hundreds of customers on single, standalone lines, meaning a single outage could leave many customers without power until repairs are made," said Steve Strah, President, FirstEnergy Utilities. "Our plan would allow us to isolate damage to a confined area and allow other customers along the line to be quickly restored by rerouting power from nearby lines. These investments will help us meet our customers' high expectations by reducing outages and restoring power faster across our Ohio footprint."
Beyond the immediate benefits to customers, the work is needed to support future integration of new, smart technologies as well as customer-driven applications such as plug-in electric vehicles and distributed energy resources. Projects include:
FirstEnergy estimates that the cost of these projects would comprise about two percent of the typical residential customer's monthly bill.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
READING, Pa., Nov. 29, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has awarded Science, Technology, Engineering and Math (STEM) grants totaling more than $5,000 to seven teachers in the company's Metropolitan Edison (Met-Ed) utility service area. The grants will be used for a variety of hands-on projects, workshops and teacher development programs.
The grant winners, their schools and projects are:
"FirstEnergy has long supported educational activities in communities served by our Pennsylvania utilities, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to provide assistance to so many STEM projects this year to support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
Met-Ed, a subsidiary of FirstEnergy Corp., serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Nov. 29, 2017 /PRNewswire/ -- Three teachers in West Virginia have been awarded Science, Technology, Engineering and Mathematics (STEM) classroom grants totaling more than $2,000 from FirstEnergy Corp. (NYSE: FE). The grants will be used for a variety of hands-on projects, workshops and academic programs in areas served by Mon Power and Potomac Edison, FirstEnergy's West Virginia utilities.
The grant winners, their schools and projects are:
"FirstEnergy has long supported educational activities in our West Virginia service area, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to fund several STEM projects this year to support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV, or visit us on Facebook at https://www.facebook.com/MonPowerWV. Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison, or visit us on Facebook as https://www.facebook.com/PotomacEdison. Visit FirstEnergy on the web at www.firstenergycorp.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 29, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has awarded Science, Technology, Engineering and Math (STEM) grants totaling more than $14,000 to 17 teachers to support educator-submitted projects in Ohio Edison's service territory. The grants will be used for a variety of hands-on projects, workshops and teacher development programs.
The grant winners, their schools and projects are:
"FirstEnergy has long supported educational activities in communities served by Ohio Edison, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to provide assist STEM projects this year that support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, or on Facebook at http://www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 29, 2017 /PRNewswire/ -- Eleven New Jersey teachers have been awarded Science, Technology, Engineering and Mathematics (STEM) classroom grants from FirstEnergy Corp. (NYSE: FE). The grants, totaling almost $8,000, will be used for a variety of hands-on projects, workshops and academic programs across Jersey Central Power & Light's (JCP&L) service area.
The grant winners, their schools and projects are:
"JCP&L and FirstEnergy have long supported educational activities, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to provide assistance to several STEM projects this year that support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grants recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
JCP&L is a subsidiary of FirstEnergy Corp. JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 29, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has awarded Science, Technology, Engineering and Math (STEM) grants totaling more than $5,000 to six teachers in the company's Illuminating Company service area. The grants will be used for a variety of hands-on projects, workshops and teacher development programs.
The grant winners, their schools and projects are:
"FirstEnergy has always supported educational activities in communities served by The Illuminating Company, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to assist several STEM projects this year that support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo, or on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 29, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has awarded Science, Technology, Engineering and Math (STEM) grants totaling more than $5,000 to six teachers in the company's Toledo Edison service area. The grants will be used for a variety of hands-on projects, workshops and teacher development programs.
The grant winners, their schools and projects are:
"FirstEnergy has long supported educational activities in communities served by Toledo Edison, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to provide assistance to several STEM projects this year that support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
READING, Pa., Nov. 29, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has awarded Science, Technology, Engineering and Math (STEM) grants totaling almost $6,000 to six teachers in the company's Pennsylvania Power Company (Penn Power) service area. The grants will be used for a variety of hands-on projects, workshops and teacher development programs.
The grant winners, their schools and projects are:
"FirstEnergy has long supported educational activities in communities served by our Pennsylvania utilities, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to provide assistance to so many STEM projects this year to support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
Penn Power is a subsidiary of FirstEnergy Corp. and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 29, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has awarded Science, Technology, Engineering and Math (STEM) grants totaling $10,000 to 14 Pennsylvania teachers in the company's West Pennsylvania Power Company (West Penn Power) utility service area. The grants will be used for a variety of hands-on projects, workshops and teacher development programs in classrooms across the service area.
The grant winners, their schools and projects are:
"FirstEnergy has long supported educational activities in communities served by our Pennsylvania utilities, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to provide assistance to so many STEM projects this year to support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 29, 2017 /PRNewswire/ -- Kimberlie Grabenstine, a teacher at Williamsport Elementary School, has been awarded a $950 Science, Technology, Engineering and Mathematics (STEM) grant from FirstEnergy Corp. (NYSE: FE). The grant will be used to teach Grabenstine's fourth grade students about wave patterns, including building a seismograph and testing it.
Students will experiment with the design of their seismograph, using different designs and materials, to discover which design best registers the patterns and waves produced during an earthquake. They also will learn about the best ways to alert the public when an earthquake happens.
"FirstEnergy's STEM grants help us to support educational activities in our Maryland service area, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to assist with this interesting STEM project in our Potomac Edison service territory to support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison, or visit us on Facebook at https://www.facebook.com/PotomacEdison
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
READING, Pa., Nov. 29, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has awarded Science, Technology, Engineering and Math (STEM) grants totaling almost $10,000 to 11 teachers in the company's Pennsylvania Electric Company (Penelec) service area.
The winners and their schools and projects are:
"FirstEnergy has long supported educational activities in communities served by our Pennsylvania utilities, particularly those that encourage students to pursue careers in the critical fields of science, technology, engineering and mathematics," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to provide assistance to so many STEM projects this year to support our students, schools and educators as they work to help build a strong workforce for the future."
FirstEnergy offers grants up to $1,000 to individual teachers and administrators at schools served by its electric utility operating companies and in communities where it has facilities. Company-wide, these grants totaled almost $70,000 in 2017.
Grant recipients are recommended by local educators who make up FirstEnergy's Educational Advisory Council. As part of the program, recipients must furnish a written summary and evaluation of their projects that can be shared with other educators in FirstEnergy's service area.
Penelec, a subsidiary of FirstEnergy Corp., serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 28, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has donated $10,000 to Advancing Opportunities, Inc., to help install smart home technology at its new group home in Jackson, New Jersey, the first time such equipment has been installed at one of its residences in the state.
Serving New Jersey's disabled community since 1950, Advancing Opportunities provides assistive technology services and residential programs. The smart home technology will be used to help residents feel safer and more independent.
JCP&L's donation will help install smart home devices, including power door openers activated by wall-mounted buttons and wireless remotes, electronically monitored water temperature controls for safety in the kitchen and bath, and motion sensors located in doors, windows and on beds that help the staff identify residents that could need assistance.
"Supporting Advancing Opportunities' new group home is another example of JCP&L and its employees making the communities we serve better places to live by helping everyone have access to new technology," said Jim Fakult, president of JCP&L. "The holiday lights we have donated and installed will help brighten the new home, just as Advancing Opportunities brightens the lives of its residents."
Advancing Opportunities group homes typically include four residents.
"We are proud to have JCP&L join us as a partner in our first smart home project," said Jack Mudge, Advancing Opportunities president and chief executive officer. "It is because of partners like JCP&L that we are able to fulfill our mission and promote independence, not only for individuals at this house, but for people with disabilities across the state who benefit from what we learn through this pilot program."
Advancing Opportunities provides person-centered services in community settings. For additional information visit www.advopps.org.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Visit FirstEnergy on the web at www.firstenergycorp.com, or follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: JCP&L and Advancing Opportunities will hold a tour at the Jackson Group Home for the media on Wednesday, November 29 at 1 p.m. The Jackson Group Home is located at 976 West Veterans Highway, Jackson, N.J.
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SOURCE FirstEnergy Corp.
ERIE, Pa., Nov. 20, 2017 /PRNewswire/ -- Pennsylvania Electric Company (Penelec) invites customers to celebrate the holiday season by entering its fourth annual "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the Penelec Facebook page (www.facebook.com/PenelecElectric) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by Penelec based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Penelec Facebook page. The "Merry & Bright" contest is open only to Penelec customers who are legal residents of Pennsylvania or New York and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Penelec or its advertising agency are not eligible.
Photos of the winning entries from 2016 can be found on Flickr.
Penelec is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves approximately 600,000 customers in 31 Pennsylvania counties. Connect with Penelec on Twitter @Penelec, on Facebook at www.facebook.com/PenelecElectric, and online at www.penelec.com.
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SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Nov. 20, 2017 /PRNewswire/ -- Toledo Edison invites customers to celebrate the holiday season by entering its second annual "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the Toledo Edison Facebook page (www.facebook.com/ToledoEdison) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by Toledo Edison based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Toledo Edison Facebook page. The "Merry & Bright" contest is open only to Toledo Edison customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Toledo Edison or its advertising agency are not eligible.
Photos of the winning entries from 2016 can be found on Flickr.
Toledo Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison, on Facebook at www.facebook.com/ToledoEdison, or online at www.toledoedison.com.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 20, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) invites customers to celebrate the holiday season by entering its fifth annual "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the JCP&L Facebook page (www.facebook.com/JCPandL) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by JCP&L based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the JCP&L Facebook page. The "Merry & Bright" contest is open only to JCP&L customers who are legal residents of New Jersey and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, JCP&L or its advertising agency are not eligible.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 20, 2017 /PRNewswire/ -- Potomac Edison invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest, a competition conducted for the first time on the company's Facebook page.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the Potomac Edison Facebook page (www.facebook.com/PotomacEdison) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by Potomac Edison based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Potomac Edison Facebook page. The "Merry & Bright" contest is open only to Potomac Edison customers who are legal residents of Maryland or West Virginia and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Potomac Edison or its advertising agency are not eligible.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Connect with Potomac Edison on Twitter @PotomacEdison, on Facebook at www.facebook.com/PotomacEdison, or online at www.potomacedison.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 20, 2017 /PRNewswire/ -- The Illuminating Company invites customers to celebrate the holiday season by entering its second annual "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at The Illuminating Company Facebook page (www.facebook.com/IlluminatingCo) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by The Illuminating Company based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to The Illuminating Company Facebook page. The "Merry & Bright" contest is open only to The Illuminating Company customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, The Illuminating Company or its advertising agency are not eligible.
Photos of the winning entries from 2016 can be found on Flickr.
The Illuminating Company is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo, on Facebook at www.facebook.com/IlluminatingCo, and online at www.illuminatingcompany.com.
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SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 20, 2017 /PRNewswire/ -- West Penn Power Company (West Penn Power) invites customers to celebrate the holiday season by entering its third annual "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the West Penn Power Facebook page (www.facebook.com/WestPennPower) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by West Penn Power based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the West Penn Power Facebook page. The "Merry & Bright" contest is open only to West Penn Power customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, West Penn Power or its advertising agency are not eligible.
Photos of the winning entries from 2016 can be found on Flickr.
West Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power, on Facebook at www.facebook.com/WestPennPower, and online at www.west-penn-power.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 20, 2017 /PRNewswire/ -- Pennsylvania Power Company (Penn Power) invites customers to celebrate the holiday season by entering its third annual "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the Penn Power Facebook page (www.facebook.com/PennPower) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by Penn Power based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Penn Power Facebook page. The "Merry & Bright" contest is open only to Penn Power customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Penn Power or its advertising agency are not eligible.
Photos of the winning entries from 2016 can be found on Flickr.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Nov. 20, 2017 /PRNewswire/ -- Monongahela Power Company (Mon Power) invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest, a competition conducted for the first time on the company's Facebook page.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the Mon Power Facebook page (www.facebook.com/MonPowerWV) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by Mon Power based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Mon Power Facebook page. The "Merry & Bright" contest is open only to Mon Power customers who are legal residents of West Virginia and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Mon Power or its advertising agency are not eligible.
Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 385,000 customers in 34 West Virginia counties. Connect with Mon Power on Twitter @MonPowerWV, on Facebook at www.facebook.com/MonPowerWV, or online at www.mon-power.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 20, 2017 /PRNewswire/ -- Ohio Edison invites customers to celebrate the holiday season by entering its second annual "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the Ohio Edison Facebook page (www.facebook.com/OhioEdison) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by Ohio Edison based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Ohio Edison Facebook page. The "Merry & Bright" contest is open only to Ohio Edison customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Ohio Edison or its advertising agency are not eligible.
Photos of the winning entries from 2016 can be found on Flickr.
Ohio Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com.
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SOURCE FirstEnergy Corp.
READING, Pa., Nov. 20, 2017 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) invites customers to celebrate the holiday season by entering its fifth annual "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday light display on the Met-Ed Facebook page (www.facebook.com/MetEdElectric) from Monday, Nov. 27 to Friday, Dec. 15. Up to 10 finalists will be selected by Met-Ed based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Monday, Dec. 18 to Friday, Dec. 22.
The grand prize winner will receive a $200 Visa® gift card and a set of LED holiday lights controlled by a mobile app. The runner up will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Met-Ed Facebook page. The "Merry & Bright" contest is open only to Met-Ed customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Met-Ed or its advertising agency are not eligible.
Photos of the winning entries from 2016 can be found on Flickr.
Met-Ed is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves approximately 560,000 customers in 15 Pennsylvania counties. Connect with Met-Ed on Twitter @Met_Ed, on Facebook at www.facebook.com/MetEdElectric, and online at www.met-ed.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 17, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is expanding its smart home product offering with the addition of Lumenplay® lights that are versatile and durable enough to be used all year long. For use outdoors or indoors, Lumenplay® is an extendable string of energy-efficient LED lights that can create up to 16 million color options. Controlled through a free app on a Bluetooth Smart Device, the lights also can be set in motion, changing direction, speed and brightness to create a customized lighting display.
"Although they look similar to traditional holiday bulbs, each Lumenplay® bulb holds a red, green and blue LED, which can create almost any color imaginable," said Brett Reynolds, vice president of Marketing & Product Development. "It's this versatility that makes these lights perfect for the upcoming holiday season as well as all other holidays and celebrations throughout the entire year."
The Lumenplay® Starter Kit contains one, 12-foot string of long-lasting lights and a controller, which is operated through the user-friendly app. Up to 25 additional light strings – called Extender Strings – can be connected to a controller. Both products are available in the Home Products section of smart-mart.com.
The Lumenplay® app is compatible with Android™ or iOS Bluetooth Smart-Ready devices and available on Google Play™ or the App Store®.
Smartmart is a secure, user-friendly online marketplace, offering a range of proven and practical solutions that help consumers better meet the demands of today's busy and complex lifestyles. At www.smart-mart.com, shoppers can find the tools, technologies and services to help them live and work smarter and ensure greater peace of mind. With some products and services, customers of a FirstEnergy utility company can make simple, straightforward payments on their electric bill.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Lumenplay® is a registered trademark of S4 Lights.
Editor's note: Product images are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 16, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will celebrate the 30th anniversary of safe, clean and dependable operation at its Perry Nuclear Power Plant on Saturday, November 18. Located on a 1,100-acre site in Perry, Ohio, the 1,268-megawatt plant reliably generates enough electricity to power more than 1.2 million homes each day and has produced more than 273 million megawatt hours of electricity over its 30-year lifespan.
FirstEnergy will mark the anniversary on Friday, November 17 with a celebration for the plant's approximately 700 employees, 120 of whom have worked at Perry since operations began.
"Reaching this significant milestone is a testament to the excellence and dedication of our workforce," said David Hamilton, site vice president at Perry Nuclear Power Plant. "As a proud member of the Perry community, we look forward to many more years of power generation and civic involvement in northeast Ohio."
Construction crews broke ground for Perry in October 1974, and the General Electric-designed boiling water reactor became the nation's 100th nuclear power plant when it began commercial operation on November 18, 1987. Perry remains one of the nation's newest nuclear power plants in operation today. While the plant is currently licensed through 2026, it can apply for a 20-year extension to continue operations through 2046.
Together with its sister plant located near Toledo, Perry plays an important role in Ohio's economic, environmental and energy future. In addition to supporting 4,300 state-wide jobs, the two plants provide 11 percent of the electricity used in Ohio each year. Their operation helps avoid more than 9 million tons of carbon emissions annually – equal to the carbon output of 1.9 million passenger vehicles. As strong community members, the plants have contributed more than $1.7 million to charitable organizations like United Way and Harvest for Hunger over the past 10 years.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its FENOC subsidiary operates the Beaver Valley Power Station in Shippingport, Pa., the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter @Perry_Plant, @BVPowerStation, and @DavisBesse.
Editor's Note: Historical photos of the plant are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/perry-nuclear-power-plant-marks-30-years-of-safe-and-reliable-operation-300558123.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 15, 2017 /PRNewswire/ -- In recognition of Utilities United Against Scams Day on November 15, FirstEnergy Corp. (NYSE: FE) is providing utility customers with safety tips and a reminder to remain vigilant against scam and fraud activity.
"We take our customers' safety and security very seriously," said Gary W. Grant, vice president of customer service for FirstEnergy Utilities. "Through our website, social media outreach, newsletters and participation in industry efforts such as Utilities United Against Scams Day, we continue working to educate customers about scam activity and help them avoid falling victim to con artists who are posing as representatives of our company."
Scam artists impersonating utility employees target their victims through door-to-door visits, phone calls, and electronic communications. In one of the most common schemes, these criminals will try to instill fear that power will be disconnected if the victim does not immediately provide a payment – often using a prepaid card or money transfer service.
FirstEnergy's award-winning Scam and Fraud Information website, www.firstenergycorp.com/scam-info, describes reported scams and offers facts and safety reminders that can help customers protect themselves, including:
"Customers who have questions about their account status or the identity of someone who claims to be one of our employees should immediately call our customer contact centers," Grant said. "We also urge customers to report any suspicious activity to the police, and to let us know if they believe they have been targeted by a scam."
Customers are encouraged to share this information with friends and family to continue raising awareness of these crimes, and to revisit the Scam and Fraud Information page on FirstEnergy's website periodically to check for updates on emerging scam activity.
Utility Company Customer Service Numbers: |
|
Ohio Edison |
1-800-633-4766 |
The Illuminating Company |
1-800-589-3101 |
Toledo Edison |
1-800-447-3333 |
Met-Ed |
1-800-545-7741 |
Penelec |
1-800-545-7741 |
Penn Power |
1-800-720-3600 |
West Penn Power |
1-800-686-0021 |
Jersey Central Power & Light |
1-800-662-3115 |
Mon Power |
1-800-686-0022 |
Potomac Edison |
1-800-686-0011 |
FirstEnergy is part of Utilities United Against Scams, a consortium of more than 100 U.S. and Canadian utilities that is dedicated to combating impostor utility scams by providing a forum for utilities and trade associations to share data and best practices, and work together to implement initiatives to inform and protect customers.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-continues-educating-customers-on-scams-and-fraud-300556634.html
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help to enhance system resiliency when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter weather, make a difference when the weather turns cold," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. The plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on approximately 2,100 miles of FirstEnergy transmission lines located in the Mon Power area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Mon Power tree contractors expect to complete trimming along more than 4,500 circuit miles of electric lines in 2017.
Employee safety also is a priority during the winter. Mon Power's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Mon Power personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts if they experience a power outage during severe winter weather. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information also is provided through the companies' web-based outage information, and text messaging and alert services.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/mon-power-completes-inspections-and-maintenance-prior-to-winter-weather-300555701.html
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help to enhance system resiliency when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter weather, make a difference when the weather turns cold," said James A. Sears, Jr., vice president of Potomac Edison. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. The plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on approximately 1,400 miles of FirstEnergy transmission lines located in the Potomac Edison service area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Potomac Edison tree contractors expect to complete trimming along nearly 3,000 circuit miles of electric lines in 2017.
Employee safety also is a priority during the winter. Potomac Edison's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Potomac Edison personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts if they experience a power outage during severe winter weather. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information also is provided through the companies' web-based outage information, and text messaging and alert services.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/potomac-edison-completes-inspections-and-maintenance-prior-to-winter-weather-300555705.html
SOURCE FirstEnergy Corp.
READING, Pa., Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help to enhance system resiliency when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter weather, make a difference when the weather turns cold," said Scott Wyman, regional president of Penelec. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. The plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on approximately 2,500 miles of FirstEnergy transmission lines located in the Penelec area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Penelec tree contractors have trimmed more than 3,200 circuit miles of electric lines since January and expect to trim another 625 miles by year end.
Employee safety also is a priority during the winter. Penelec's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Penelec personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts if they experience a power outage during severe winter weather. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information also is provided through the companies' web-based outage information, and text messaging and alert services.
Penelec, a subsidiary of FirstEnergy Corp., serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/penelec-completes-inspections-and-maintenance-prior-to-winter-weather-300555696.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, the Pennsylvania Power Company (Penn Power) is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help to enhance system reliability when the snow begins to fly.
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. Plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on FirstEnergy transmission lines located in the Penn Power area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Penn Power tree contractors expect to complete trimming along more than 1,250 circuit miles of electric lines in 2017.
Employee safety also is a priority during the winter. Penn Power's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Penn Power personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts when they experience a power outage. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information is also provided through the companies' web-based outage information, and text messaging and alert services.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/penn-power-completes-inspections-and-maintenance-prior-to-winter-weather-300555698.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help to enhance system resiliency when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter weather, make a difference when the weather turns cold," said Mark Jones, vice president of Operations, JCP&L. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. The plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections of transmission lines located in the JCP&L area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. JCP&L tree contractors expect to complete tree trimming along more than 3,600 circuit miles of electric lines in 2017.
Employee safety also is a priority during the winter. JCP&L's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. JCP&L personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts if they experience a power outage during severe winter weather. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information also is provided through the companies' web-based outage information, and text messaging and alert services.
JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-completes-inspections-and-maintenance-prior-to-winter-weather-300555702.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and equipment maintenance now can help to enhance system resiliency when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter weather, make a difference when the weather turns cold," said David W. McDonald, president of West Penn Power. "Preparing now for potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. The plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on approximately 1,700 miles of FirstEnergy transmission lines located in the West Penn Power eservice area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. West Penn Power tree contractors expect to complete trimming along about 4,900 circuit miles of electric lines in 2017.
Employee safety also is a priority during the winter. West Penn Power's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. West Penn Power personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts if they experience a power outage during severe winter weather. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information also is provided through the companies' web-based outage information, and text messaging and alert services.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/west-penn-power-completes-inspections-and-maintenance-prior-to-winter-weather-300555699.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help to enhance system reliability when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter operations, make a difference when the weather turns cold," said Kevin Sestak, vice president of Operations, Ohio Edison. "The steps we take now in advance of potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. Plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on FirstEnergy transmission lines located in the Ohio Edison area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Ohio Edison tree contractors expect to complete trimming along more than 6,000 circuit miles of electric lines in 2017.
Employee safety also is a priority during the winter. Ohio Edison's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Ohio Edison personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts when they experience a power outage. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information is also provided through the companies' web-based outage information, and text messaging and alert services.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/ohio-edison-completes-inspections-and-maintenance-prior-to-winter-weather-300555689.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help to enhance system reliability when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter operations, make a difference when the weather turns cold," said John Skory, regional president of The Illuminating Company. "The steps we take now in advance of potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. Plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on FirstEnergy transmission lines located in The Illuminating Company area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Illuminating Company tree contractors expect to complete trimming along more than 2,4000 circuit miles of electric lines in 2017.
Employee safety also is a priority during the winter. The Illuminating Company's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Illuminating Company personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts when they experience a power outage. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information is also provided through the companies' web-based outage information, and text messaging and alert services.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/the-illuminating-company-completes-inspections-and-maintenance-prior-to-winter-weather-300555693.html
SOURCE FirstEnergy Corp.
READING, Pa., Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, Metropolitan Edison (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help to enhance system reliability when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter operations, make a difference when the weather turns cold," said Ed Shuttleworth, Met-Ed regional president. "The steps we take now in advance of potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. Plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on approximately 1,380 miles of FirstEnergy transmission lines located in the Met-Ed area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Met-Ed tree contractors have trimmed more than 1,900 circuit miles of electric lines since January and expect to trim another 1,000 miles by year end.
Employee safety also is a priority during the winter. Met-Ed's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Met-Ed personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts when they experience a power outage. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information is also provided through the companies' web-based outage information, and text messaging and alert services.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/met-ed-completes-inspections-and-maintenance-prior-to-winter-weather-300555694.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 14, 2017 /PRNewswire/ -- In preparation for winter, Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing inspections and conducting equipment maintenance on weather-sensitive equipment across its service area.
Winter's cold temperatures can produce increased demand for electricity, and heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring crews to make repairs in difficult conditions. Completing inspections and maintenance of equipment now can help to enhance system reliability when the snow begins to fly.
"Conducting winter maintenance procedures for our infrastructure, combined with fleet maintenance designed to prepare our vehicles for winter operations, make a difference when the weather turns cold," said Rich Sweeney, regional president of Toledo Edison. "The steps we take now in advance of potential severe weather conditions helps enhance the service we provide to our customers."
The work includes inspecting heating equipment for substation components, such as capacitor banks, transformers, oil- and gas-filled circuit breakers. Some substations also include buildings that house remote-controlled relay equipment. These structures will be winterized and have the heating systems checked.
Substation electricians also inspect batteries used to power relays that sense faults on the network and motors that automatically operate switches to isolate those problems, helping to prevent service interruptions or limit their size and scope. Crews use special thermal-imaging cameras to detect hot spots invisible to the naked eye on equipment prone to overheating and malfunctioning as customers crank up their heaters to combat the cold.
Company bucket trucks and other vehicles also are being inspected to help ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze up if moisture is present. In addition, snow removal equipment is being checked. Plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
Helicopter patrols also are completing inspections on FirstEnergy transmission lines located in the Toledo Edison area. The inspections are designed to look for damaged wire, broken cross arms, failed insulators, and other hardware problems not visible from the ground. Any potential reliability issues identified during the inspection may then be addressed.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages. Toledo Edison tree contractors expect to complete trimming along more than 1,4000 circuit miles of electric lines in 2017.
Employee safety also is a priority during the winter. Toledo Edison's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Toledo Edison personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
FirstEnergy's utilities also have made it easier for customers to check the progress of service restoration efforts when they experience a power outage. The company's 24/7 Power Center outage maps now display the status of crews restoring service after a power outage. With this enhancement, FirstEnergy utility customers can see when crews have been dispatched, when they are working on a repair, and when additional crews or equipment are needed to complete restoration work. This information is also provided through the companies' web-based outage information, and text messaging and alert services.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's utilities' winter inspection and maintenance program are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/toledo-edison-completes-inspections-and-maintenance-prior-to-winter-weather-300555691.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 9, 2017 /PRNewswire/ -- The FirstEnergy Foundation has donated $50,000 to the Cuyahoga Valley Scenic Railroad (CVSR) to support the organization's first comprehensive capital campaign since it was founded in 1972. The funds will be used to help modernize CVSR's fleet of locomotives and passenger cars.
The CVSR is one of the longest and most scenic tourist railway excursions in the nation, running from Rockside Road in Independence, Ohio, through the Cuyahoga Valley National Park to Ridge Street in downtown Akron. In the last 10 years, ridership has increased 70 percent, with a record-high 216,063 passengers in 2016.
"The Cuyahoga Valley Scenic railroad has become a cultural institution in northeast Ohio, drawing people from far and wide for programs designed to build wonderful family memories, such as summer valley excursions or trips on the Polar Express during the holiday season," said Dee Lowery, president of the FirstEnergy Foundation. "The fact that this is the railroad's first comprehensive capital campaign in its 45 years of operation is a testament to the organization's viability, and we're pleased to support it."
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-foundation-donates-50000-to-the-cuyahoga-valley-scenic-railroads-capital-campaign-300552876.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 8, 2017 /PRNewswire/ -- The FirstEnergy Foundation has donated $2,500 to Leadership Lake County to support the organization's highly interactive leadership development programs.
The mission of Leadership Lake County is to develop and engage present and future leaders including students, young professionals and executives to become committed to social, economic and civic excellence in the county. Since its inception in 1986, more than 1,800 leaders who live or work in Lake County have graduated from its leadership programs.
"Leadership Lake County has been making a positive difference in our community for more than 30 years, and 21 current or former FirstEnergy employees are proud alumni of its development program," said Dee Lowery, president of The FirstEnergy Foundation. "We look forward to continued collaboration with the group to encourage innovation, community participation, and economic development solutions that benefit the region."
"Investment in young leaders today means talent retention for our region in the future," said Dr. Jessie Baginski, Leadership Lake County President and Chief Executive Officer. "We are grateful for the recognition and support from the FirstEnergy Foundation, which allows us to advance the leadership capacity and connections across four generations of Lake County leaders."
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of the check presentation is available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-foundation-donates-2500-to-leadership-lake-county-300552152.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 8, 2017 /PRNewswire/ -- The FirstEnergy Foundation has donated $25,000 to Guthrie's Forward Together comprehensive campaign, which will help support new facilities and investments in the latest medical technologies for patient care.
Guthrie is a member of the Mayo Clinic Care Network and serves patients from an 11-county service area in north central Pennsylvania and upstate New York, including four regional hospitals, a research institute, home and hospice care and regional specialty and primary care in 23 communities.
"Guthrie provides life-saving care across our Pennsylvania service territory and in communities where our customers and employees live and work," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to support this campaign to help Guthrie become a more valuable asset to the community."
Guthrie employs more than 300 physicians and 200 advanced practice providers, and has more than 1 million patient visits each year. Guthrie also is one of the largest employers and the largest healthcare provider in the region.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-foundation-donates-25000-to-guthrie-in-central-pennsylvania-300551976.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 1, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has named Elizabeth Durr the new external affairs manager for Brooke, Hancock, Marion, Monongalia, Preston, Taylor, Tucker, Tyler and Wetzel counties in its Mon Power service area in West Virginia.
External Affairs managers serve as liaisons between Mon Power and elected officials, as well as support community involvement activities. They work from regional offices across Mon Power's service area to provide closer proximity to and understanding of the unique issues that face each community they serve. Durr will be located at Mon Power's Morgantown Service Center.
Durr joined Mon Power as an engineering designer in 1994. She was promoted to business account specialist in 1998, then named account manager in 1999. In 2004, Durr became a claims representative, and was named Mon Power's manager of claims in 2004.
She received a bachelor's degree in electrical engineering technology from Fairmont State College and a master's degree in business management from West Virginia University.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of Elizabeth Durr is available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-names-elizabeth-durr-external-affairs-manager-for-mon-powers-northern-west-virginia-service-area-300547486.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 1, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has named Thomas Butcher the new external affairs manager for eight eastern West Virginia counties in Mon Power and Potomac Edison service territory.
External Affairs managers serve as liaisons between the company and local elected officials, as well as support community involvement activities. They work from regional offices across our service area to provide closer proximity to and understanding of the unique issues that face each community they serve. Butcher's territory includes Pendleton County in Mon Power's service area and Berkeley, Grant, Hampshire, Hardy, Jefferson, Mineral and Morgan counties in Potomac Edison's service area. Butcher will be located at Mon Power's Martinsburg Service Center.
Butcher joined the company as a meter reader in 1992, and was promoted to supervisor of meter reading in 1998. In 2014, he was named senior customer service specialist, a position he held until his recent promotion.
He received a bachelor's degree in business administration from West Virginia University in 1992.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Connect with Potomac Edison on Twitter @PotomacEdison, on Facebook at www.facebook.com/PotomacEdison, and online at www.potomacedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of Thomas Butcher is available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-names-thomas-butcher-external-affairs-manager-for-eastern-west-virginia-300547487.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 1, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has named Paul Thornton the new external affairs manager for Toledo Edison's southern and central service areas.
External affairs managers serve as liaisons between Toledo Edison and elected officials, as well as support community involvement activities. They work from regional offices across Toledo Edison's service area to provide closer proximity to and understanding of the unique issues that face each community they serve. Thornton will be located at the company's service center in Holland, Ohio.
Thornton worked in a variety of sales and marketing positions before joining FirstEnergy Solutions in 1998. In 2009, he was named key account executive at the company, a position he held until his recent promotion.
Thornton earned a bachelor's degree in business administration from the University of Toledo.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison, on Facebook at www.facebook.com/ToledoEdison and online at www.toledoedison.com
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of Paul Thornton is available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-names-paul-thornton-external-affairs-manager-for-toledo-edisons-central-and-southern-service-area-300547482.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 1, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has named Victor J. Coleman Jr. external affairs manager for Ashland, Crawford, Richland, Marion, Knox, Holmes, Wyandot and Morrow counties in Ohio Edison's service area.
External affairs managers serve as liaisons between Ohio Edison and elected officials, as well as support community involvement activities. They work from regional offices across Ohio Edison's service area to provide closer proximity to and understanding of the unique issues that face each community they serve. Coleman will be located at the company's service center in Mansfield, Ohio.
In 2005, he joined Toledo Edison, another FirstEnergy utility, as a meter reader, and was promoted to supervisor of regional meter reading in 2012.
Coleman earned bachelor's and master's degrees from Full Sail University in Florida, and is working on a Ph.D. in business management from Capella University in Minneapolis, Minnesota.
Ohio Edison is a subsidiary of FirstEnergy Corp. and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of Victor Coleman is available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-names-victor-coleman-external-affairs-manager-for-ohio-edisons-central-service-area-300547485.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 1, 2017 /PRNewswire/ -- To help enhance the reliability of its system, Ohio Edison, a FirstEnergy Corp. (NYSE: FE) utility, will replace or repair more than 1,700 wooden utility poles this year as part of the company's annual inspection program. The poles would stretch about 13 miles if laid end to end.
Overall, Ohio Edison will inspect 57,000 of its 561,000 wooden poles in 2017 for signs of wear, insect infestation or damage from motor vehicle accidents, with a budgeted cost of approximately $4.5 million.
"Poles are vital to the delivery of electricity to homes and businesses in our service area," said Kevin Sestak, vice president of Operations, Ohio Edison. "Utility poles are in the elements 365 days a year and subject to damage from severe weather, falling trees and traffic accidents. Over time, some poles need to be replaced to help maintain our system's safety, reliability and resiliency."
Typically, specialized contractors perform the pole inspections. As part of the process, a visual inspection is completed, along with inspecting the pole to determine if the interior is sound. Some poles can be reinforced rather than replaced. One of the most common reinforcement techniques is to snug a C-shaped steel beam against the pole, jackhammer the beam into the ground, and secure it to the pole with tight, metal bands.
All wooden poles throughout the 34-county Ohio Edison territory are inspected on a 10-year cycle. The inspections began in January and continue throughout the year, with pole replacements and repairs scheduled to be completed during the fall.
Year-to-date, more than 45,000 wooden poles have been inspected in the Youngstown/Warren, Mansfield/Marion, Springfield, Sandusky/Norwalk and Lorain/Elyria areas. The remaining poles to be inspected include:
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's pole inspection and repair process are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/pole-inspection-and-replacement-program-continues-at-ohio-edison-to-enhance-service-reliability-300547463.html
SOURCE FirstEnergy Corp.
READING, Pa., Nov. 1, 2017 /PRNewswire/ -- To help enhance the reliability of its system, Metropolitan Edison Company (Met-Ed), a FirstEnergy Corp. (NYSE: FE) utility, will replace or repair about 640 wooden utility poles this year as part of the company's annual inspection program. The poles would stretch nearly five miles if laid end to end.
Overall, Met-Ed will inspect approximately 35,000 of its 342,000 wooden poles in 2017 for signs of wear, insect infestation or damage from motor vehicle accidents, with a budgeted cost of approximately $4.5 million.
"Poles are vital to the delivery of electricity to homes and businesses in our area," said Ed Shuttleworth, regional president, Met-Ed. "While durable, these poles are in the elements 365 days a year and subject to damage from a variety of factors. Over time, some poles need to be replaced or repaired to help maintain our system's safety, reliability and resiliency."
A standard 40-foot wooden distribution pole typically is expected to last more than 50 years. The most common utility pole is made from a Southern Yellow Pine tree and costs about $400.
Typically, specialized contractors perform the pole inspections. As part of the process, a visual inspection is completed, along with checking the pole to determine if the interior is sound. Poles also can be reinforced rather than replaced. One of the most common reinforcement techniques is to snug a C-shaped steel beam against the pole, jackhammer the beam into the ground, and secure it to the pole with tight, metal bands.
All wood distribution poles throughout the 15-county Met-Ed service territory are inspected on a 12-year cycle. Inspections began in July and are continuing, with the remaining replacement and repair work scheduled to be completed during the latter part of the year.
Year-to-date, Met-Ed has inspected approximately 21,000 wooden poles in and around the following communities:
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's pole inspection and repair process are available for download on Flickr.
View original content with multimedia:http://www.prnewswire.com/news-releases/pole-inspection-and-replacement-program-continues-at-met-ed-to-enhance-service-reliability-300547462.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 27, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that President and Chief Executive Officer Charles E. Jones will make a presentation to investors at the Edison Electric Institute Financial Conference on Tuesday, November 7, 2017. The presentation is scheduled to begin at approximately 8:15 a.m. EST.
Interested parties may listen to a live webcast of the presentation and view the company's slides associated with the event by visiting FirstEnergy's investor information website, www.firstenergycorp.com/ir, and clicking the Edison Electric Institute Financial Conference link. The company plans to post presentation slides and associated materials to its website after markets close on November 3, 2017.
The webcast and presentation will also be archived on FirstEnergy's website and available for replay for up to one year.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 26, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported third quarter 2017 GAAP earnings of $396 million or $0.89 per basic and diluted share of common stock, on revenue of $3.7 billion. Operating (non-GAAP) earnings* were $0.97 per basic share of common stock.
For the third quarter of 2016, the company reported GAAP earnings of $380 million, or $0.89 per basic and diluted share of common stock, on revenue of $3.9 billion. Operating (non-GAAP) earnings were $0.90 per basic share of common stock.
"During the quarter, we achieved solid results from each of our businesses, and made continued progress on our regulated growth strategies," said Charles E. Jones, FirstEnergy president and chief executive officer. "We remain focused on meeting our commitments to the investment community, and we are pleased to raise our full-year 2017 operating earnings guidance above our previous range."
The company raised its forecast for 2017 GAAP earnings to a range of $2.02 to $2.42 per basic share, and raised and narrowed its full-year operating (non-GAAP) earnings guidance range to $3.00 to $3.10 per basic share.
In FirstEnergy's Regulated Distribution business, third quarter earnings increased as a result of new rates that went into effect in Ohio, Pennsylvania and New Jersey in January 2017. This was partially offset by lower distribution deliveries, reflecting significantly milder temperatures, as well as higher depreciation expense as compared to the third quarter of 2016.
Total distribution deliveries decreased 7 percent compared to the third quarter of 2016, which was the hottest in nearly four decades. Residential sales decreased 14.1 percent, while commercial sales decreased 6.5 percent. In the industrial sector, deliveries increased 1.2 percent, primarily reflecting higher usage in the shale gas sector.
In the Regulated Transmission business, higher third quarter 2017 transmission revenues offset higher operating expenses, including a regulatory charge recognized during the quarter, as compared to the same period in the third quarter of 2016.
In the Competitive Energy Services segment, operating expenses, depreciation and taxes were lower compared to the same period in 2016, but these were offset by lower commodity margin, reflecting an expected decrease in contract sales, and asset impairment and plant exit costs recognized in the third quarter of 2017.
For the first nine months of 2017, the company reported GAAP earnings of $775 million, or $1.75 per basic share, $1.74 diluted, on revenue of $10.6 billion. Operating (non-GAAP) earnings for the first nine months of 2017 were $2.36 per basic share.
This compares to a GAAP loss of $(381) million, or $(0.90) per basic and diluted share of common stock, on revenues of $11.2 billion during the first nine months of 2016. Operating (non-GAAP) earnings were $2.25 per basic share of common stock during this period.
Consolidated GAAP EPS to Operating (Non-GAAP) EPS* Reconciliation |
||||||||||
Third Quarter |
Year-To-Date |
Estimate |
||||||||
2017 |
2016 |
2017 |
2016 |
Full Year 2017 |
||||||
Basic Earnings (Loss) Per Share (GAAP) |
$0.89 |
$0.89 |
$1.75 |
$(0.90) |
$2.02 - $2.42 |
|||||
Excluding Special Items*: |
||||||||||
Regulatory charges |
0.03 |
0.02 |
0.05 |
0.12 |
0.06 |
|||||
Mark-to-market adjustments |
||||||||||
Pension/OPEB actuarial assumptions** |
0.06 - 0.36 |
|||||||||
Other |
0.01 |
(0.02) |
0.09 |
(0.02) |
0.09 |
|||||
Asset impairment/Plant exit costs |
0.03 |
— |
0.45 |
2.99 |
0.45 |
|||||
Trust securities impairment |
— |
— |
0.01 |
0.02 |
0.01 |
|||||
Merger Accounting – commodity contracts |
— |
0.01 |
— |
0.04 |
— |
|||||
Debt redemption costs |
0.01 |
— |
0.01 |
— |
0.01 |
|||||
Total Special Items* |
0.08 |
0.01 |
0.61 |
3.15 |
0.68 - 0.98 |
|||||
Basic EPS - Operating (Non-GAAP) |
$0.97 |
$0.90 |
$2.36 |
$2.25 |
$3.00 - $3.10 |
|||||
* Per share amounts for the special items and earnings above are based on the after-tax effect of each item divided by weighted average basic shares outstanding for each period. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pretax amount. The income tax rates range from 35% to 42%.
** Based on current discount rates ranging from 4.00% to 3.75% for the pension plans and 3.75% to 3.50% for the OPEB plans and actual gains through September 30, 2017, on pension plan assets of 12.5% and on OPEB plan assets of 8.6%. |
Non-GAAP financial measures
*Operating (non-GAAP) earnings (losses) exclude "special items" as described herein, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items are not necessarily non-recurring. Management uses operating (non-GAAP) earnings (losses) and operating (non-GAAP) earnings (losses) by segment to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Management believes that the non-GAAP financial measure of operating (non-GAAP) earnings (losses) provides a consistent and comparable measure of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the third quarter and first nine months of the year, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on Third Quarter 2017 Consolidated Report to the Financial Community.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Third Quarter 2017 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission and distribution investment plans, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the Notice of Proposed Rulemaking released by the Secretary of Energy and action by the Federal Energy Regulatory Commission (FERC); the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its substantial debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES, and its subsidiaries, and FENOC, related to wholesale energy and capacity markets and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units, which could result in further substantial write-downs and impairments of assets; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales, margins and operations such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 26, 2017 /PRNewswire/ -- Ohio Edison, The Illuminating Company and Toledo Edison, FirstEnergy's (NYSE: FE) Ohio utilities, remind customers having difficulty paying their utility bills that they may be eligible for special financial assistance programs.
In Ohio, customer assistance programs include:
Ohio residential customers of FirstEnergy's utilities looking for a convenient way to manage their electric bills also can sign up for the FirstEnergy Installment Plan, which allows customers to make consistent monthly payments to avoid the impact of seasonal highs and lows in their electricity bills. To apply or learn more about programs to help keep electricity bills affordable, visit www.firstenergycorp.com or call Ohio Edison customer service at (800) 633-4766; The Illuminating Company customer service at (800) 589-3101; and Toledo Edison customer service at (800) 447-3333.
Ohio Edison, a subsidiary of FirstEnergy Corp., serves more than 1 million customers across 32 Ohio counties. Connect with Ohio Edison at www.ohioedison.com, on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
READING, Pa., Oct. 26, 2017 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), West Pennsylvania Power Company (West Penn) and Pennsylvania Power Company (Penn Power), all FirstEnergy (NYSE: FE) utilities, remind customers having difficulty paying their utility bills that they may be eligible for special financial assistance or other programs that could reduce the amount of electricity they use.
Assistance programs available to Pennsylvania residents include:
The specific improvements that a customer is eligible to receive will be determined during the home energy evaluation. No payment is required for these installations/services. There are household income requirements and electricity use requirements. To determine eligibility, call 1-800-207-9276.
Residential customers of FirstEnergy's Pennsylvania utilities who are interested in finding a more convenient way to manage their electricity bills also can sign up to extend their bill due date or for an extended payment program. To learn more, call (800) 545-7741 (Met-Ed and Penelec customers); (800) 686-0021 (West Penn Power customers); or (800) 720-3600 (Penn Power customers).
Met-Ed is a subsidiary of FirstEnergy Corp. and serves approximately 560,000 customers in 15 Pennsylvania counties. Connect with Met-Ed on Twitter @Met_Ed, on Facebook at www.facebook.com/MetEdElectric, and online at www.met-ed.com.
Penelec serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
Penn Power is a subsidiary of FirstEnergy Corp. and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Oct. 26, 2017 /PRNewswire/ -- Mon Power and Potomac Edison, FirstEnergy Corp.'s (NYSE: FE) West Virginia utilities, remind customers having difficulty paying their utility bills that they may be eligible for special financial assistance or other programs that could help reduce the amount of electricity they use.
Assistance programs available to FirstEnergy's West Virginia customers include:
Eligibility for specific improvements will be determined during the home energy evaluation. No additional payment is required for this equipment or installation. For more information call (888) 406-8074.
Mon Power and Potomac Edison residential customers interested in a convenient way to manage their electricity bills also may qualify for an extended due date program or an extended payment plan. For more information, call Mon Power at (800) 686-0022 or Potomac Edison at (800) 686-0011.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison, on Facebook at www.facebook.com/PotomacEdison, and online at www.potomacedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Oct. 26, 2017 /PRNewswire/ -- Potomac Edison, a FirstEnergy (NYSE: FE) utility, reminds customers having difficulty paying their utility bills that they may be eligible for special financial assistance programs.
In Maryland, customer assistance programs include:
Residential customers of Potomac Edison who are interested in finding a more convenient way to manage their electricity bills also can sign up to extend their bill due date or for an extended payment program. To learn more, call (800) 686-0011.
Potomac Edison is a subsidiary of FirstEnergy Corp. and serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Connect with Potomac Edison on Twitter @PotomacEdison, on Facebook at www.facebook.com/PotomacEdison, and online at www.potomacedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
ERIE, Pa., Oct. 25, 2017 /PRNewswire/ -- FirstEnergy (NYSE: FE) and its subsidiaries are upgrading a substation near Punxsutawney, Pa., to an advanced design that will help reduce the frequency and duration of power outages for Pennsylvania Electric Company (Penelec) customers in Jefferson and Indiana counties.
Crews are installing three new circuit breakers as well as smart technologies that can help shorten power outage restoration time and enhance system performance. Digital switching devices will give operators the ability to restore power more quickly and efficiently than if a crew was dispatched to the facility to investigate the situation. The estimated project cost is $6.9 million.
"The new facility is designed to help keep power flowing to our customers in the event one of our local transmission lines goes out of service due to weather, maintenance work or other disruption," said Scott Wyman, regional president of Penelec. "Through our Energizing the Future initiative, we're focused on modernizing our facilities with new, smart technologies that will boost the performance of our electric system and help prevent or shorten power outages."
FirstEnergy launched Energizing the Future in 2014, investing over $4.2 billion over the past four years on transmission upgrades primarily in its Ohio service territory. These projects resulted in transmission system reliability improvements that FirstEnergy is seeking to replicate across its Pennsylvania territory. FirstEnergy will build this project through its new transmission affiliate company, Mid-Atlantic Interstate Transmission, LLC (MAIT).
Through Energizing the Future, FirstEnergy has upgraded or replaced existing transmission lines, incorporated new, smart technology into the grid, and outfitted dozens of substations with new equipment and enhanced security features. These upgrades are producing reliability improvements across the company's transmission system. FirstEnergy will continue these investments through 2021.
Penelec, a subsidiary of FirstEnergy Corp., serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Substation construction photos are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 23, 2017 /PRNewswire/ -- Trick or treat is here – the time when little ghosts, goblins and, most likely, vampires, zombies and a superhero or two, will run door-to-door, excitedly collecting treats from their neighbors. FirstEnergy Corp.'s (NYSE: FE) utilities would like to remind all participants in this honored and fun tradition to include safety as part of their plans before the big night arrives.
FirstEnergy suggests participants limit their travels to well-lit, familiar areas, and never go trick-or-treating alone – it's less fun and less safe. Also, be sure costumes are visible after dark and that costume masks don't block the vision of the wearer. Carrying a flashlight or including reflective material or glow sticks as part of a costume improves visibility for all.
Motorists also should use extra caution during trick or treat hours, especially on narrower neighborhood streets without street lights.
Additional safety tips include:
Additional recommendations to stay safe this Halloween can be found at the Centers for Disease Control and Prevention website, www.cdc.gov/family/halloween.
FirstEnergy's utilities include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Penelec, Met-Ed, Penn Power and West Penn Power in Pennsylvania; Jersey Central Power & Light in New Jersey; Mon Power and Potomac Edison in West Virginia; Potomac Edison in Maryland; and Penelec in New York.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Visit FirstEnergy on the web at www.firstenergycorp.com, or follow FirstEnergy on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-utilities-offer-halloween-safety-tips-300541166.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 19, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the third quarter and first nine months of 2017 after markets close on Thursday, October 26. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Friday, October 27. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its third quarter Consolidated Report to the Financial Community to the investor section of the website after markets close on October 26.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Oct. 18, 2017 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is upgrading a transmission substation near Thomas, W.Va., to help connect a new wind farm to the regional electric grid. The work also is expected to enhance electric service to Mon Power customers in the area.
The centerpiece of the $2.2 million substation project is installing a new 138-kilovolt (kV) transformer capable of accommodating the output from a new wind farm being built by a developer in nearby Grant County. Substation transformers enable higher transmission voltages to be changed to lower levels that can be used by customers to power electrical devices
Slated for completion in late November, the upgrade included a new circuit breaker and relay devices, which automatically interrupt the flow of electricity to protect equipment from events such as tree-related outages or lightning strikes. Transmission dispatchers can remotely monitor conditions at the substation, and if needed, reset the devices automatically to help reduce the duration and number of customers affected if an outage occurs.
"We work with energy project developers to help efficiently connect their new facilities to the grid, along with supporting existing baseload technology," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "The substation improvements also will help provide redundancy to enhance service reliability for Mon Power customers in the area."
Mon Power substation construction crews have completed all foundation work and used a heavy-duty crane to position the new transformer into place on its cement pad. The new transformer measures about 14 feet long by 8 feet wide by 8 feet tall and weighs about 112,000 pounds.
The operator of the new wind farm in northwestern Grant County will build a new 11-mile long, 138 kV transmission line that will connect to the substation.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of Mon Power's substation upgrades are available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 18, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has partnered with New Jersey Audubon to create new habitat for bees, butterflies and birds at the Black Bear Golf Club at Crystal Springs Resort in Franklin, New Jersey.
The project began last year when JCP&L and Crystal Springs Resort personnel cleared an existing JCP&L transmission line right-of-way at the golf course and planted native grasses and wildflower seeds to create a pollinator friendly area. After one growing season, the results are promising, with an influx of bees, butterflies and birds in the area.
The goal of the project is to create a habitat favored by the insects and animals that pollinate flowers, agricultural crops, fruit trees and other plants, while also helping JCP&L ensure proper clearances along the transmission line corridor to ensure safe and reliable electric service to customers. The project also will include signage installed by Crystal Springs Resort to educate visitors about the work that was done and the importance of pollinators.
"This unique habitat project showcases JCP&L's ongoing commitment to protecting the environment," said Jim Fakult, president of JCP&L. "Our collaborative partnerships with Crystal Springs Resort and New Jersey Audubon make that commitment even stronger to create lasting value in the communities we serve."
The Black Bear Golf Club at Crystal Springs Resort is positioned in the middle of five recognized New Jersey Important Bird Areas. The habitat enhancements also are designed to help support native avian species, including field sparrows, prairie warblers, blue winged warblers and indigo buntings.
"The Crystal Springs Resort possesses incredibly beautiful and important habitat and we are thrilled to partner with New Jersey Audubon and JCP&L in pursuit of ongoing environmental stewardship," said Art Walton, vice president of Crystal Springs Resort. "As a destination resort and community hub, we have a unique opportunity to promote our region's natural assets for the benefit and enlightenment of many."
JCP&L and Crystal Springs Resort are members of the New Jersey Audubon Corporate Stewardship Council, which emphasizes voluntary environmental stewardship, sustainability, conservation partnerships and public education.
"We are excited to be working with forward thinking partners like JCP&L and Crystal Springs Resort," said Eric Stiles, president and CEO of NJ Audubon. "Together, we have taken the right steps in protecting some of our most valuable natural resources, such as birds, pollinators and the habitat that supports them. This land management adds to the natural beauty that already greets resort guests and golfers."
New Jersey Audubon is a privately supported, not-for-profit, statewide membership organization. Founded in 1897, and one of the oldest independent Audubon's, New Jersey Audubon is working to make New Jersey a better place for people and wildlife. New Jersey Audubon fosters environmental awareness and a conservation ethic among New Jersey's citizens; protects New Jersey's birds, mammals, other animals, and plants, especially endangered and threatened species; and promotes preservation of New Jersey's valuable natural habitats. For more information, visit www.njaudubon.org.
Crystal Springs Resort is acclaimed as the New York Metro area's most unique four-season resort. Located an hour from the city, it is comprised of two luxury hotels – Grand Cascades Lodge and Mineral Hotel; six championship caliber golf courses, including the nationally acclaimed Ballyowen course; 10 restaurants; two full-service spas; and multiple indoor and outdoor pools. For more information visit www.crystalgolfresort.com.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos showing the enhanced pollinator friendly habitat along a JCP&L transmission line corridor at Crystal Springs Resort are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 17, 2017 /PRNewswire/ -- Penn Power is completing work on approximately $15 million in power line and substation projects as part of a targeted 2017 program to reduce the number and duration of power outages experienced by the company's 160,000 customers.
The work involves installing enhanced protective devices on wires and poles, rebuilding electric lines, including replacing damaged insulators, poles, cross arms, and wire, and installing automated and remote-control devices.
The projects are part of Penn Power's 2016-2020 Long-Term Infrastructure Improvement Plan (LTIIP) approved by the Pennsylvania Public Utility Commission. This special program focuses on distribution infrastructure enhancement projects in the Penn Power service area, with a total of $62 million to be spent through 2020 on system improvements.
"These additional projects complement the maintenance work we already do each year to enhance the reliability of our electric system," said Randall A. Frame, president of Ohio Edison and Penn Power. "This year, we have added two modular substations and are targeting work on rebuilding circuits and adding remote control devices that can help speed the restoration process when outages do occur."
The LTIIP projects underway in the Penn Power service area in 2017 include:
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of equipment being installed as part of Penn Power's Long-Term Infrastructure Improvement Plan are available for download on Flickr.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 11, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) reminds customers having difficulty paying their utility bills that they may be eligible for special financial assistance or energy efficiency programs that could reduce the amount of electricity they use.
Assistance programs available to New Jersey residents include:
JCP&L residential customers looking for a convenient way to manage their electric bills can also sign up for the FirstEnergy Equal Payment Plan (EPP). With EPP, customers make consistent monthly payments to avoid seasonal highs and lows in their electric bills. To apply or learn more about other JCP&L programs, please visit www.firstenergycorp.com or call 1-800-662-3115.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
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SOURCE FirstEnergy Corp.
READING, Pa., Oct. 5, 2017 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed equipment upgrades at a substation in Reading to enhance service reliability and help meet growing demand for electricity for about 2,500 customers in the Glenside area of the city.
The centerpiece of the $3 million project was replacing a transformer and other equipment in the substation, which originally was constructed in 1940. Substation transformers enable higher transmission voltages to be changed to lower levels that can be used by customers to power electrical devices. As an added benefit, the refurbishment was designed to increase the local electric system's capacity without having to expand the substation's footprint or build new power lines.
The upgrade included new circuit breakers and relay devices, which automatically interrupt the flow of electricity to protect equipment from events such as tree-related outages or lightning strikes. Met-Ed dispatchers can now remotely monitor conditions at the substation, and if needed, reset the devices automatically to help reduce the duration and number of customers affected if an outage occurs. This remote-control capability was not available at the time the substation was originally built.
"Refurbishing this substation will help position our system to better meet the electrical growth that has occurred in the Glenside area of Reading during the past 50 years," said Ed Shuttleworth, regional president of Met-Ed. "The planning work for this project began late last year and construction has been completed in a timely and efficient manner to help us deliver the safe and reliable electric service our customers have come to expect."
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter: @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 5, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will launch a new e-commerce website on Monday, October 9, called Smartmart by FirstEnergy, offering a range of proven and practical solutions that help consumers better meet the demands of today's busy and complex lifestyles. At www.smart-mart.com, shoppers will be able to find the tools, technologies and services to help them live and work smarter and ensure greater peace of mind. With some products and services, customers of a FirstEnergy utility company can make simple, straightforward payments on their electric bill.
"For years, customers have turned to FirstEnergy about ways to better manage their energy use," said Brett Reynolds, vice president of Marketing & Product Development. "Smartmart builds on that tradition, expanding on our collection of products and services that brings greater comfort, convenience, security and productivity to our customers' lives. We've taken a thoughtful approach to finding products that are important to consumers and offering them in a secure, user-friendly online marketplace."
The products in Smartmart are the result of research into trends for the home, lifestyle, communities and businesses – such as smart home systems and new, energy-saving lighting technology – as well as proven, conventional solutions, including professional electrical services and cost-effective home warranty and repair plans. New products will be added to the website as they are developed.
In addition to browsing and purchasing products, Smartmart visitors can stay up-to-date on new ways to save energy and money through an online blog, which includes helpful tips for making more informed energy decisions.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's note: Campaign images are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 3, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced a Request for Proposal (RFP) to purchase both Ohio-compliant Solar Renewable Energy Credits (SRECs) and Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison. The purchases will help meet the Companies' 2017 renewable energy targets established under Ohio's alternative energy law.
SRECs and RECs sought in this RFP must be able to be utilized by the Companies for compliance with its 2017 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM-EIS GATS, and generated between January 1, 2015, and December 31, 2017. The following amounts are being sought:
One SREC represents the environmental attributes of one megawatt hour of generation from a solar renewable generating facility qualified by the PUCO. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from utility customers through a monthly charge filed quarterly with the PUCO.
No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications, and must be able to prove their SREC or REC generating facilities are certified or in the process of becoming certified by the PUCO.
The RFP is a competitive process managed by Navigant Consulting, Inc., an independent evaluator and a global consulting firm with expertise in energy markets, renewables and competitive procurements. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs and SRECs.
The FirstEnergy Ohio utilities have established a website to provide bidders with a central source of documents, data and other information for the RFP process. This information is available by accessing http://www.FEOhioRECRFP.com.
On October 6, 2017, at 11:00 a.m. EPT, the FirstEnergy Ohio utilities and their consultant, Navigant, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website.
To participate in the RFP, potential bidders are encouraged to submit credit applications by October 31, 2017, and proposals are due November 7, 2017 by 5 p.m. EPT.
The RFP Manager is Dan Bradley, Managing Director, Navigant Consulting, Inc. He can be reached via e-mail at manager@FEOhioRECRFP.com.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Maryland, Ohio, Pennsylvania, New Jersey, New York and West Virginia. Its generation subsidiaries control more than 20,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro, pumped-storage hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 2, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) and its subsidiaries are rebuilding and modernizing an electric transmission line to enhance service reliability for West Penn Power and Penn Power customers in Butler and Mercer counties. When completed later this year, the upgraded line will reinforce the local electric system and use smart technologies to help reduce the frequency and duration of power outages.
The project involves replacing the existing 69-kilovolt (kV) poles and wires with new structures capable of supporting 138-kV operation. The upgraded line will extend about 7.5 miles between existing electric substations in Slippery Rock Township, Butler County and Grove City Borough, Mercer County. Remote control switching devices are being added to allow grid operators to respond to operational conditions more quickly. New equipment was also added to two substations to handle the line's increased capacity and support growing electric demand.
"By rebuilding an existing line, we can help maintain service reliability for customers with minimal impact on local communities and the environment," said Linda Moss, president, Pennsylvania Operations. "The new line and remote-control equipment will help strengthen and modernize the grid, and increase the flexibility and redundancy of our system."
Construction is now underway, with the new line expected to be energized by the end of this year. As required by state law, FirstEnergy and its operating companies recently obtained approval to rebuild the line by the Pennsylvania Public Utility Commission.
The project is part of Energizing the Future, a multi-year investment initiative aimed at upgrading FirstEnergy's transmission facilities with advanced equipment and technologies that will reinforce the power grid and help reduce the frequency and duration of customer outages. Since 2014, FirstEnergy has upgraded or replaced existing transmission lines, incorporated new, smart technology into the grid, and outfitted dozens of substations with new equipment and enhanced security features. These upgrades are producing reliability improvements across the company's transmission system. FirstEnergy will continue these investments through 2021, with planned spending of $4.2 to $5.8 billion over the next five years.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: An album of project photos is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 29, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) President and CEO Charles E. Jones issued the following statement today regarding the Department of Energy's proposal to help prevent additional premature closures of U.S. baseload generating facilities:
"We commend Secretary Perry and the Department of Energy for recognizing the importance of a reliable, resilient electric grid for American families and our nation's economy. Correcting the faulty market conditions and keeping essential baseload generating plants operating will help ensure customers continue to receive safe, reliable and affordable supplies of electricity while maintaining the security of the electricity grid. We look forward to final action by the Federal Energy Regulatory Commission (FERC) as soon as possible."
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, and its generation subsidiaries own or control generating capacity totaling approximately 17,000 MW from nuclear, coal, gas, hydro, wind and solar facilities across Ohio, Pennsylvania, West Virginia, New Jersey, Virginia and Illinois. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 25, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) forestry contractors will trim trees in more than 50 municipalities in September as part of its $34 million vegetation management program for 2017. The work is done to maintain proper clearances around electrical equipment which promotes enhanced service reliability by helping to protect against tree-related outages.
Year-to-date, more than 2,500 circuit miles of tree trimming have been completed, with an additional 1,100 miles expected to be completed by year-end.
JCP&L's tree trimming program is conducted by certified forestry experts under the company's direction. The work will take place in the following counties and municipalities:
As part of the notification process, JCP&L works with municipalities to inform them of vegetation management schedules. In addition, customers living in areas along company rights-of-way are notified prior to work being performed. To further decrease tree-related outages, JCP&L's foresters also are working to educate residents who live near company equipment about the importance of properly maintaining the trees on their own property.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com
Editor's Note: Photos of JCP&L vegetation management work being done are available for download on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 19, 2017 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable December 1, 2017, to shareholders of record at the close of business on November 7, 2017.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
READING, Pa., Sept. 19, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced that a Request for Proposal (RFP) will be issued to purchase 71,000 Solar Photovoltaic Alternative Energy Certificates (SPAECs) annually over a two-year period on behalf of three of FirstEnergy's Pennsylvania utilities – Pennsylvania Power Company, Pennsylvania Electric Company, and Metropolitan Edison Company.
The RFP process will be conducted by The Brattle Group and will take place in October and November, with qualifying applications due by Wednesday, October 11 and bids due by Wednesday, November 1. Bidders in this RFP can offer to sell tranches of SPAECs, where each tranche represents a commitment to sell 500 SPAECs annually over a two-year period. Based on the RFP results, FirstEnergy's Pennsylvania utilities will enter into separate agreement(s) with winning suppliers to purchase the necessary quantities of SPAECs.
Further information about the SPAEC RFP is available on FirstEnergy's website at www.firstenergycorp.com/PA2017SPAECRFP.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 13, 2017 /PRNewswire/ -- As the damage continues to be assessed following Hurricane Irma, FirstEnergy Corp. (NYSE: FE) utilities are sending additional linemen and support personnel to help utilities in Florida with restoration efforts following large-scale power outages.
The crews are scheduled to leave for Florida early Thursday morning from various FirstEnergy utility facilities in Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. They will join other FirstEnergy employees that traveled to Florida late last week and are now working in the field to restore power to customers. Overall, more than 630 FirstEnergy employees are assisting with the restoration effort, along with a full contingent of tree trimmers and electrical contractors who have working relationships with FirstEnergy.
All 10 of FirstEnergy's utilities are part of the mutual assistance effort, which includes crews from Ohio Edison, The Illuminating Company, and Toledo Edison in Ohio; Penelec, Penn Power, West Penn Power and Met-Ed in Pennsylvania; Mon Power in West Virginia; Potomac Edison in West Virginia and Maryland; and Jersey Central Power & Light in New Jersey. Support personnel from FirstEnergy's corporate offices also are included in the company's contingent.
"The aftermath of Hurricane Irma has resulted in one of the largest power outages our nation has ever experienced and FirstEnergy personnel are glad to be able to help those Florida customers in need," said Steven Strah, senior vice president and president of FirstEnergy Utilities. "Many of our linemen have been to Florida in the past to assist following other hurricanes, so they know firsthand the challenging working conditions that they will be facing over the next week as they safely restore power."
FirstEnergy will have personnel in place to continue to maintain reliable operations for its customers in Ohio, Pennsylvania, New Jersey, West Virginia and Maryland, while also assisting those in need in Florida.
FirstEnergy is a member of multiple electric utility mutual-assistance groups that work cooperatively to restore service to customers when a natural disaster causes large-scale power outages. Mutual assistance allows utilities to pool their resources to help restore power to customers faster. In the past, FirstEnergy and its employees have been honored by the Edison Electric Institute (EEI) with its "Emergency Assistance Award" for the mutual assistance the company has provided during winter and summer storms.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 8, 2017 /PRNewswire/ -- As part of its long-standing tradition of assisting other electric companies during large-scale power outages, FirstEnergy Corp. (NYSE: FE) utilities will send nearly 900 linemen, damage assessors, electrical contractors, forestry crews and support personnel to help utilities in Florida with restoration efforts following expected power outages from Hurricane Irma.
The crews are scheduled to leave for Florida early Saturday morning from various FirstEnergy utility facilities in Ohio, Pennsylvania, New Jersey, West Virginia and Maryland, with all personnel expected to arrive at a staging area in Lake City, Florida, by Sunday evening.
Current forecasts call for Hurricane Irma to impact all areas of Florida. As the damage is assessed, FirstEnergy personnel will be deployed to the most damaged areas when it is safe to do so after the storm moves through.
All 10 of FirstEnergy's utilities are part of the mutual assistance effort, which includes crews from Ohio Edison, The Illuminating Company (CEI) and Toledo Edison in Ohio; Penelec, Penn Power, West Penn Power and Met-Ed in Pennsylvania; Mon Power in West Virginia; Potomac Edison in West Virginia and Maryland; and Jersey Central Power & Light in New Jersey. Support personnel from FirstEnergy's corporate offices also are included in the company's contingent.
"FirstEnergy employees are committed to assisting with what is likely to be a massive power restoration effort in Florida," said Steven Strah, senior vice president and president of FirstEnergy Utilities. "While it's not expected that Hurricane Irma will impact any FirstEnergy service territories, we have carefully assessed conditions and are confident we have the personnel in place to maintain reliable operations for our customers, while also assisting those in need in Florida."
FirstEnergy is a member of multiple electric utility mutual-assistance groups that work cooperatively to restore service to customers when a natural disaster causes large-scale power outages. Mutual assistance allows utilities to pool their resources to help restore power to customers faster. In the past, FirstEnergy and its employees have been honored by the Edison Electric Institute (EEI) with its "Emergency Assistance Award" for the mutual assistance the company has provided during winter and summer storms.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 6, 2017 /PRNewswire/ -- Customers of FirstEnergy's (NYSE: FE) Ohio utilities can now get even more money back for recycling their old refrigerators and freezers. The incentive has been increased from $50 to $75 for each appliance recycled this fall. Customers who also recycle a working room air conditioner or dehumidifier along with a refrigerator or freezer will receive an additional $25.
Customers can participate by visiting www.energysaveOhio.com or calling 855-485-7463 to arrange a home pickup. The $75 incentive applies to pickup requests made between Sept. 1 and Nov. 30. This gives customers an opportunity to easily make some extra money while reducing household energy use.
"The appliance recycling program is an effective way for customers to save energy and money," said Wade Williams, manager of residential energy efficiency programs for FirstEnergy's utilities. "Removing an outdated refrigerator can save up to $150 a year in energy costs. This program provides our customers with a convenient, safe and responsible way to get rid of older appliances and reduce energy consumption, while also getting a $75 incentive."
Units will be picked up by Recleim, a major national appliance recycler. Recleim will then safely remove and dispose of hazardous materials. About 95 percent of the materials in the inefficient appliances are kept out of landfills and recycled for reuse in a variety of products, such as construction materials, cell phones and beverage cans.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 6, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that it has entered into a revised agreement for the sale of 1,615 megawatts (MW) of competitive natural gas and hydroelectric generation assets located in Pennsylvania and Virginia to a subsidiary of LS Power Equity Partners III, LP. The assets will be sold for an all-cash price of $825 million under the terms of the revised agreement signed on August 30, 2017.
The sale, which was originally announced in January, is consistent with FirstEnergy's strategy to transition to a fully regulated company and exit from commodity-exposed generation.
The revised agreement affects six power stations that are owned directly or indirectly by FirstEnergy subsidiaries Allegheny Energy Supply Company, LLC, and Allegheny Generating Company. The 20 employees at these plants will be offered employment with the new owner. The transaction includes:
The transaction involving the Springdale, Chambersburg, Gans and Hunlock power stations is expected to close in the fourth quarter of 2017, while the sale of the interests in Bath and Buchanan is expected to close in the first quarter of 2018. The transactions are subject to various customary and other closing conditions, including receipt of regulatory approvals and third-party consents. It is expected that proceeds from the sales will be invested in FirstEnergy's unregulated money pool and may be used for the repayment of debt and other corporate purposes.
When the sale is complete, FirstEnergy will own or control generating capacity totaling approximately 15,337 MW from nuclear, coal, gas, hydro, wind and solar facilities across Ohio, Pennsylvania, West Virginia, New Jersey, Virginia and Illinois.
Barclays Capital Inc. served as the exclusive financial advisor to Allegheny Energy Supply and Allegheny Generating Company on the transaction.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 5, 2017 /PRNewswire/ -- Ohio Edison and Pennsylvania Power, subsidiaries of FirstEnergy Corp. (NYSE: FE), will conduct a training drill this week to test the companies' storm restoration process for when severe weather causes wide-spread power outages in the region.
Designed to train employees assigned to storm outage duty on responses to major events, the drill will take place at Ohio Edison's Regional Dispatch Office in Akron. About 50 company employees will play either a role or observe the drill.
As part of the training scenario, the company will send messages about the drill thru its social media accounts on Facebook and Twitter.
"FirstEnergy's storm restoration process has been recognized repeatedly by electric industry organizations for its effectiveness and efficiency, but the goal of this type of exercise is to keep our skills up to date and to make additional improvements," said Kevin Sestak, vice president of Operations for Ohio Edison, which also operates Penn Power in western Pennsylvania. "These drills are part of our overall strategy to invest in our system and our people to enhance service reliability."
Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years. This is the third drill for Ohio Edison and Penn Power in the last several years.
Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves more than 1 million customers across 36 Ohio counties. Connect with Ohio Edison at www.ohioedison.com, on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Connect with Penn Power on Twitter @Penn_Power and on Facebook at www.facebook.com/PennPower.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Sept. 5, 2017 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), will host a public information meeting in Smithsburg, Md., on Sept. 21 to discuss plans to rebuild an existing electric transmission line to keep affordable and reliable power flowing to customers in Washington and Frederick counties.
The project involves rebuilding an existing 138-kilovolt (kV) transmission line, almost entirely within an existing right-of-way, with new structures and wires capable of supporting 230-kV operation. The Potomac Edison line rebuild will be necessary as a result of a larger project being proposed by Transource Energy, which held separate public meetings in the area in May and August.
Property owners along the existing 10-mile line route were recently mailed letters informing them about the project and inviting them to attend the Sept. 21 meeting at Smithsburg High School. The general public may attend the meeting anytime between 5-8 p.m.; there will be no formal presentation and company representatives will share project details at a series of informational tables. Potomac Edison expects to file an application with the Maryland Public Service Commission later this year seeking approval to rebuild the existing line.
Potomac Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Connect with Potomac Edison on Twitter @PotomacEdison, on Facebook at www.facebook.com/PotomacEdison, and online at www.potomacedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 31, 2017 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), has named Brian Boles vice president of Nuclear Support for its nuclear generation fleet. In addition, Terry Brown has been named vice president of Fleet Oversight for the FENOC nuclear fleet.
In his new role, Boles oversees FENOC's security and training organizations and the groups that provide support to plant maintenance, operations, chemistry, radiation protection, and work and outage management. He replaces Darin Benyak, who is completing a special assignment overseeing the company's nuclear cyber security enhancement project. Boles reports to Paul Harden, FENOC senior vice president and Chief Operating Officer.
Brown is responsible for management of FENOC's fleet and site Oversight and Assessment groups and the Employee Concerns Program. Collectively, these groups assure quality performance at FENOC through audits, assessments and other vehicles for performance monitoring. Brown replaces Mark Bezilla, who has been named vice president of FENOC's Davis-Besse Nuclear Power Plant, and reports to Sam Belcher, FENOC President and Chief Nuclear Officer.
"Safe and reliable nuclear plants depend on solid leadership and support at the fleet level," said FENOC Senior Vice President and Chief Operating Officer Paul Harden. "Brian and Terry both have a wealth of knowledge and experience that will help ensure excellence across FENOC's three nuclear sites."
With more than 32 years' industry experience, Boles started his career at FENOC's Perry Nuclear Power Plant as an engineering technician and worked in several engineering positions before assuming leadership roles in the Nuclear Engineering, Operations and Outage Management groups. He has served at the company's Davis-Besse Nuclear Power Station in various Engineering, Maintenance and Operations leadership roles, including his most recent position of site vice president. He also previously served as FENOC's vice president of Fleet Support.
Boles obtained a Senior Reactor Operator license at Perry and holds a bachelor's degree in Mechanical Engineering from Cleveland State University. He currently resides in Green, Ohio.
Brown joined FENOC in 2013 as manager of Fleet Chemistry and Radiation Protection. He was named director of Performance Improvement at Perry later that year and transferred to Davis-Besse in the same role in 2016. A 30-year industry veteran, Brown served as an engineering manager for an extended power uprate project at Xcel Energy's Monticello Nuclear Power Station near Minneapolis, MN, before joining FENOC. He has also held leadership roles in site projects and operations at American Electric Power's D.C. Cook Nuclear Power Plant in Bridgman, MI.
Brown holds a bachelor's degree from Thomas Edison State College and a Senior Reactor Operator certification and is also recognized by the American Board of Health Physics as a Certified Health Physicist since 1997. He resides in Port Clinton, Ohio.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its FENOC subsidiary operates the Beaver Valley Power Station in Shippingport, Pa., the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter @Perry_Plant, @BVPowerStation, and @DavisBesse.
Editor's Note: Photos of Boles and Brown are available on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 31, 2017 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), has named Mark B. Bezilla vice president of the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. In this position, he is responsible for overall management, direction and coordination of operation of Davis-Besse. Bezilla succeeds Brian Boles, who has taken the role of vice president of Nuclear Support for FENOC.
Also at Davis-Besse, FENOC has promoted Doug Huey to director of Performance Improvement. Huey will oversee the Training, Regulatory Compliance and Emergency Preparedness activities at the plant.
A 40-year nuclear industry veteran, Bezilla joined FENOC in 2002 and has served as site vice president at all three of the company's nuclear plants – Davis-Besse; Beaver Valley Power Station in Shippingport, Pa.; and Perry Nuclear Power Plant in Perry, Ohio. He most recently served as vice president of Oversight for the FENOC fleet following two years as a loaned executive at the Institute of Nuclear Power Operations (INPO) in Atlanta, Ga. Prior to joining FENOC, Bezilla held various managerial positions at other U.S. nuclear power plants.
"Mark's energetic leadership, significant experience at Davis-Besse and extensive knowledge of best practices within the nuclear industry will be invaluable in helping Davis-Besse achieve excellence in all aspects of plant operations," said FENOC Senior Vice President and Chief Operating Officer Paul Harden.
Bezilla, of Port Clinton, Ohio, holds an associate's degree in Nuclear Engineering Technology from Penn State University and a bachelor's degree in Nuclear Engineering Technology from Thomas Edison State College. He has held a Senior Reactor Operator license for Three Mile Island Nuclear Generating Station Unit 1 near Harrisburg, Pa. and at Davis-Besse.
Huey has more than 29 years' experience in the nuclear power industry. He joined FENOC in 2013 as manager of Fleet Work Management. He also has served as manager of Fleet Maintenance and Work Management and Fleet Outage Manager. Prior to joining the company, Huey held various positions in nuclear regulatory licensing and oversight, maintenance, and outage and work management and earned Senior Reactor Operator certification at St. Lucie Nuclear Power Plant in Port St. Lucie, Fla.
Huey studied nuclear science at the University of Maryland, as well as computer science at Indiana University-Purdue University at Indianapolis and Ball State University. He began his career in the nuclear navy, serving aboard the U.S.S. Ohio. He currently resides in Akron, Ohio.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its FENOC subsidiary operates the Beaver Valley Power Station in Shippingport, Pa., the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter @Perry_Plant, @BVPowerStation, and @DavisBesse.
Editor's Note: Photos of Bezilla and Huey are available on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 31, 2017 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), has promoted Richard Bologna to vice president of the Beaver Valley Power Station in Shippingport, Pa. In this position, he is responsible for overall management, direction and coordination of operation of Beaver Valley. Bologna succeeds Marty Richey, who is pursing interests outside the company.
In a related move, John Grabar has been named general plant manager at Beaver Valley, the position most recently held by Bologna. Grabnar is responsible for overseeing the Operations, Radiation Protection, Chemistry and Maintenance activities at the plant.
A 29-year nuclear industry veteran, Bologna joined Beaver Valley as an engineer in 1988. He held numerous leadership positions in Maintenance, Engineering and Site Operations before becoming director of Site Operations in 2012. In 2014, he was named director of Fleet Engineering for FENOC, and then returned to Beaver Valley in September 2016 as general plant manager.
"With his long history at Beaver Valley, Rich brings a wealth of experience and understanding in all aspects of plant operations. His strong leadership skills will ensure the site continues to deliver safe, reliable performance while achieving excellence in plant operations," said FENOC Senior Vice President and Chief Operating Officer Paul Harden.
Bologna, of Rochester, Pa., holds a bachelor's degree in Mechanical Engineering from Penn State. He was a licensed Senior Reactor Operator for Beaver Valley Unit 1.
Grabnar most recently served FENOC as director of Fleet Operations Support. He joined the company's Perry Nuclear Power Plant in 1984, where he held a variety of engineering and operations roles and earned a Senior Reactor Operator license. In 2002, he was named manager of Design Engineering at FENOC's Davis-Besse Nuclear Power Station and was promoted to director of Site Engineering in 2006. Grabnar returned to Perry in 2008 as director of Site Engineering before serving as the site's director of Site Operations. He also has represented the company on a special assignment at the Institute of Nuclear Power Operations (INPO).
Grabnar holds a Master of Business Administration degree from Case Western Reserve University and a Bachelor of Science in Civil Engineering from the University of Akron. He currently resides in Concord Township, Ohio.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its FENOC subsidiary operates the Beaver Valley Power Station in Shippingport, Pa., the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter @Perry_Plant, @BVPowerStation, and @DavisBesse.
Editor's Note: Photos of Bologna and Grabnar are available on Flickr.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 31, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that Executive Vice President and Chief Financial Officer James F. Pearson will give a presentation at the Barclays CEO Energy-Power Conference in New York on Thursday, September 7, 2017, at approximately 10:25 a.m. EDT. The presentation will include a general overview of FirstEnergy and the company's progress on key initiatives.
A live webcast of the presentation will be available on FirstEnergy's investor information website, www.firstenergycorp.com/ir, by clicking the Barclays CEO Energy-Power Conference link.
Slides associated with the presentation will be posted to FirstEnergy's website the morning of September 6. The webcast and slides will also be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-executive-vice-president-and-cfo-james-pearson-to-speak-at-barclays-ceo-energy-power-conference-300512248.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 30, 2017 /PRNewswire/ -- The FirstEnergy Foundation has donated $1,000 to the Akron Urban League in honor of former Cleveland Indians star André Thornton, who recently spoke at FirstEnergy's semi-annual executive staff meeting.
The event was held at the John S. Knight Convention Center in Akron and was attended by about 250 members of FirstEnergy's leadership team from six states.
Thornton offered insights about his experiences as a minority business owner as FirstEnergy continues to work toward building and embracing a more diverse workforce into the future. In lieu of a speaking fee, Thornton suggested a donation to the Akron Urban League.
The mission of the Akron Urban League is to improve the quality of life of the citizens of Summit County, particularly African Americans, by advocating and facilitating programs that are economically and educationally transformational, impacting their lives and the lives of future generations.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 30, 2017 /PRNewswire/ -- The FirstEnergy Foundation will contribute $25,000 to the American Red Cross to assist with Hurricane Harvey recovery efforts in Texas. The Foundation also will match employee contributions up to an additional $50,000.
The unprecedented storm has dropped more than 50 inches of rain in and around the Houston area, causing widespread flooding, multiple fatalities and massive property damage.
"We hope our foundation donation along with the matching gifts made by FirstEnergy employees help provide relief for those suffering from Hurricane Harvey's historic impact," said Dee Lowery, president of the FirstEnergy Foundation. "While the massive storm has not affected the FirstEnergy service area, our company and customers have first-hand experience dealing with wide-spread devastation caused by previous hurricanes and other severe weather and hope this contribution helps provide much-needed assistance."
Those interested in supporting the American Red Cross' Hurricane Harvey recovery efforts can visit www.redcross.org to make a donation or to volunteer.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
View original content with multimedia:http://www.prnewswire.com/news-releases/firstenergy-foundation-donates-25000-to-american-red-cross-hurricane-harvey-relief-efforts-and-will-match-employee-donations-300511655.html
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Aug. 21, 2017 /PRNewswire/ -- Potomac Edison customers in Maryland can save $10,000 off the price of a 2017 all-electric Nissan LEAF – simply by showing their electric bill and a copy of the official program flyer to a participating Nissan dealership.
The special rebate offer is available from Nissan North America, Inc., until September 30, 2017, or while supplies last, for all three Nissan LEAF trim models. With a list price ranging from $30,000 – $36,000, depending on model, customers have the potential to save about a third off the price of a Nissan LEAF just by being a Potomac Edison customer in Maryland.
To receive the rebate, Potomac Edison customers need to show their monthly billing statement and a copy of the promotional flyer available here www.firstenergycorp.com/nissanrebateMD to participating LEAF-certified Nissan dealerships listed below. Nissan suggests calling ahead to the dealership to confirm inventory. The rebate cannot be combined with other special lease, interest rate or rebate offers.
In addition, the purchaser could qualify for up to $7,500 in federal electric vehicle tax credits, plus be eligible for a one-time Maryland excise tax credit, up to $3,000 for a qualifying plug-in electric vehicle.
"Electric vehicles are becoming more popular as people recognize the environmental and sustainability benefits they offer," said James A. Sears, Jr., vice president of Potomac Edison. "This rebate from Nissan is designed to help get even more of these environmentally friendly vehicles on the road."
The advantages of driving an all-electric Nissan LEAF include:
"We're dedicated to the mass-adoption of electric vehicles, or EVs, in the United States, and Potomac Edison's program shows that it's interested in supporting EVs as well," said Brian Maragno, director of EV marketing and sales strategy, Nissan North America. "Incentive programs like these help continue the positive momentum of EVs while providing a lower cost of entry for interested buyers."
Participating Nissan LEAF-Certified Dealerships in Maryland include:
Dealership |
Street |
City |
Phone |
Antwerpen Nissan, Owings Mills |
11405 Reisterstown Rd |
Owings Mills |
443-548-3001 |
Antwerpen Nissan, Inc |
12451 Auto Drive |
Clarksville |
866-226-4930 |
Antwerpen Security Nissan |
1701 Woodlawn Drive |
Baltimore |
866-504-7086 |
Bel Air Nissan |
1506 Bel Air Road |
Bel Air |
410-879-1133 |
Bob Bell Chevrolet/Nissan |
7900 Eastern Ave. |
Baltimore |
800-782-9502 |
Criswell Nissan |
19574 Amaranth Dr. |
Germantown |
888-475-1246 |
Darcars Nissan |
15911 Indianola Dr. |
Rockville |
301-309-2200 |
Darcars Nissan College Park |
9330 Baltimore Ave. |
College Park |
301-441-8000 |
Hamilton Nissan, Inc |
1929 Dual Highway |
Hagerstown |
800-527-4603 |
Herb Gordon Nissan |
3131 Automobile Blvd. |
Silver Spring |
301-890-8200 |
Leckner Nissan of Ellicott City |
8569 Baltimore National Pike |
Ellicott City |
410-465-5550 |
Nationwide Nissan |
2085 York Road |
Timonium |
410-252-8000 |
Nissan of Bowie |
2200 Crain Highway |
Bowie |
855-876-9556 |
Passport Nissan, Marlowe Heights |
5000 Auth Way |
Marlow Heights |
888-350-2187 |
Pohanka Nissan, Salisbury |
2012 N. Salisbury Blvd. |
Salisbury |
410-548-4700 |
Sheehy Nissan |
7232 Ritchie Hwy. |
Glen Burnie |
410-760-3500 |
Sheehy Nissan, Waldorf |
2950 Crain Highway |
Waldorf |
301-843-5300 |
Younger Nissan, Frederick |
7418 Grove Road |
Frederick |
301-662-0111 |
Photos of the 2017 Nissan LEAF are available for download on Flickr.
To make charging the electric vehicle convenient at home, Potomac Edison customers also can lease an Electric Vehicle Charger from FirstEnergy's Products Group. For information go to https://www.firstenergycorp.com/home-products-and-services/ev-charger.html. This pilot offer has limited availability as FirstEnergy works to expand the network of contractors qualified to install these chargers.
Additional information about the 2017 Nissan LEAF is available for download: http://nissannews.com/en-US/nissan/usa/presskits/us-2017-nissan-leaf-press-kit
Potomac Edison, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
About Nissan North America
In North America, Nissan's operations include automotive styling, engineering, consumer and corporate financing, sales and marketing, distribution and manufacturing. Nissan is dedicated to improving the environment under the Nissan Green Program and has been recognized annually by the U.S Environmental Protection Agency as an ENERGY STAR® Partner of the Year since 2010. More information on Nissan in North America and the complete line of Nissan and INFINITI vehicles can be found online at www.NissanUSA.com and www.INFINITIUSA.com, or visit the U.S. media sites NissanNews.com and INFINITINews.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/potomac-edison-customers-can-save-10000-off-the-price-of-an-all-electric-nissan-leaf-with-special-rebate-offer-300507115.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Aug. 17, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) customers can save $10,000 off the price of a 2017 all-electric Nissan LEAF – simply by showing their electric bill and a copy of the official program flyer to a participating Nissan dealership.
Click to Tweet: .@JCP_L customers can save $10,000 off the price of a 2017 all-electric Nissan LEAF. Learn more: https://ctt.ec/4RO25+
The special rebate offer is available from Nissan North America, Inc., until September 30, 2017, or while supplies last, for all three Nissan LEAF trim models. With a list price ranging from $30,000 – $36,000, depending on model, customers have the potential to save about a third off the price of a Nissan LEAF just by being a JCP&L customer.
To receive the rebate, JCP&L customers need to show their monthly billing statement and a copy of the promotional flyer available here www.firstenergycorp.com/nissanrebateNJ to participating LEAF-certified Nissan dealerships listed below. Nissan suggests calling ahead to the dealership to confirm inventory. The rebate cannot be combined with other special lease, interest rate or rebate offers.
In addition, the purchaser could qualify for up to $7,500 in federal electric vehicle tax credits, and the New Jersey Sales and Use Tax Act provides a tax exemption for qualified zero-emission vehicles.
"Electric vehicles are becoming more popular as people recognize the environmental and sustainability benefits they offer," said Jim Fakult, president of JCP&L. "This rebate from Nissan is designed to help get even more of these environmentally friendly vehicles on the road."
The advantages of driving an all-electric Nissan LEAF include:
"We're dedicated to the mass-adoption of electric vehicles, or EVs, in the United States, and JCP&L's program shows that it's interested in supporting EVs as well," said Brian Maragno, director of EV marketing and sales strategy, Nissan North America. "Incentive programs like these help continue the positive momentum of EVs while providing a lower cost of entry for interested buyers."
Participating Nissan LEAF-Certified Dealerships in New Jersey include:
Dealership |
Street |
City |
Phone |
Acme Nissan |
2050 U.S. 130 |
South Brunswick |
732-821-9300 |
Autoeastern Nissan Meadowlands |
45 Route 17 South |
Hasbrouck Heights |
201-881-7277 |
Bridgewater Nissan |
1400 Route 22 |
Bridgewater |
908-722-3600 |
Cherry Hill Nissan |
Rt. 38 and Church Rd. |
Cherry Hill |
856-382-1080 |
DCH Freehold Nissan |
4041 Route 9 N. |
Freehold |
732-984-9080 |
Hudson Nissan |
585 State Route 440 |
Jersey City |
201-324-2244 |
Lynne's Nissan City |
318 Bloomfield Ave. |
Bloomfield |
973-743-2111 |
Route 46 Nissan |
440 Route 46 |
Totowa |
973-256-1200 |
Nissan of Turnerville |
3400 Route 42 |
Turnersville |
856-516-6335 |
Nissan World of Denville |
3057 Route 10 |
Denville |
973-442-0500 |
Nissan World of Red Bank |
120 Newman Springs Rd., E |
Red Bank |
732-741-2433 |
Nissan World of Springfield |
146-162 Rt. 22 W. |
Springfield |
877-769-1438 |
North Plainfield Nissan |
545 Route 22 W. |
North Plainfield |
908-912-1400 |
Pine Belt Nissan |
229 Route 37 East |
Toms River |
732-343-7488 |
Ramsey Nissan |
401 Route 17 South |
Upper Saddle River |
800-791-5621 |
Route 22 Nissan |
56 Route 22 East |
Hillside |
908-964-8700 |
Route 23 Nissan |
1301 Route 23 |
Butler |
973-838-0800 |
Route 33 Nissan |
951 U.S. HWY 33 |
Hamilton Square |
609-586-1900 |
Sansone Jr.'s 66 Nissan |
3401 Route 66 |
Neptune |
877-222-4732 |
Team Nissan |
1715 S. Delsea Dr. |
Vineland |
856-696-2277 |
Woodbury Nissan |
439 Mantua Ave. |
Woodbury |
856-853-0005 |
Photos of the 2017 Nissan LEAF are available for download on Flickr.
Additional information about the 2017 Nissan LEAF is available for download: http://nissannews.com/en-US/nissan/usa/presskits/us-2017-nissan-leaf-press-kit
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
About Nissan North America
In North America, Nissan's operations include automotive styling, engineering, consumer and corporate financing, sales and marketing, distribution and manufacturing. Nissan is dedicated to improving the environment under the Nissan Green Program and has been recognized annually by the U.S Environmental Protection Agency as an ENERGY STAR® Partner of the Year since 2010. More information on Nissan in North America and the complete line of Nissan and INFINITI vehicles can be found online at www.NissanUSA.com and www.INFINITIUSA.com, or visit the U.S. media sites NissanNews.com and INFINITINews.com.
View original content with multimedia:http://www.prnewswire.com/news-releases/jcpl-customers-can-save-10000-off-the-price-of-an-all-electric-nissan-leaf-with-special-rebate-offer-300506030.html
SOURCE FirstEnergy Corp.
READING, Pa., Aug. 8, 2017 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) is completing work on approximately $15.9 million of electric system projects as part of a targeted 2017 program specifically designed to reduce the number and duration of power outages experienced by the company's 560,000 customers.
The work involves installing enhanced protective devices on wires and poles, rebuilding electric lines, including replacing damaged insulators, poles, cross arms and wire, and installing automated and remote control devices.
The projects are part of Met-Ed's 2016-2020 Long-Term Infrastructure Improvement Plan (LTIIP) approved by the Pennsylvania Public Utility Commission. Ultimately, this special program focuses on distribution infrastructure enhancement projects in the Met-Ed service area, with a total of $77 million being spent through 2020 on system improvements.
"The additional work is intended to benefit Met-Ed customers by complementing the work we already do each year to enhance the reliability of our electric system," said Ed Shuttleworth, regional president of Met-Ed. "We continue working to make our system the best it can be when it comes to limiting the number and duration of outages our customers experience."
The LTIIP projects slated for completion this year in the Met-Ed service area include:
In 2018, Met-Ed is expected to spend an additional $13 million on similar projects.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of similar equipment being installed as part of Met-Ed's Long-Term Infrastructure Improvement Plan are available for download on Flickr.
View original content:http://www.prnewswire.com/news-releases/line-and-substation-equipment-work-underway-in-met-ed-area-to-enhance-service-reliability-300501191.html
SOURCE FirstEnergy Corp.
ERIE, Pa., Aug. 8, 2017 /PRNewswire/ -- Pennsylvania Electric Company (Penelec) is completing work on approximately $14.5 million of electric system projects as part of a targeted 2017 program specifically designed to reduce the number and duration of power outages experienced by the company's 590,000 customers.
The work involves installing enhanced protective devices on wires and poles, rebuilding electric lines, including replacing damaged insulators, poles, cross arms and wire, and installing automated and remote control devices.
The projects are part of Penelec's 2016-2020 Long-Term Infrastructure Improvement Plan (LTIIP) approved by the Pennsylvania Public Utility Commission. Ultimately, this special program focuses on distribution infrastructure enhancement projects in the Penelec service area, with a total of $70 million being spent through 2020 on system improvements.
"The additional projects are intended to benefit Penelec customers by complementing the work we already do each year to enhance the reliability of our electric system," said Scott Wyman, regional president of Penelec. "We continue working to make our system the best it can be when it comes to limiting the number and duration of outages our customers experience."
The LTIIP projects slated for completion this year in the Penelec service area include:
In 2018, Penelec is expected to spend an additional $16 million on similar projects.
Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of similar equipment being installed as part of Penelec's Long-Term Infrastructure Improvement Plan are available for download on Flickr.
View original content:http://www.prnewswire.com/news-releases/line-and-substation-equipment-work-underway-in-penelec-area-to-enhance-service-reliability-300501190.html
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Aug. 8, 2017 /PRNewswire/ -- West Penn Power is completing work on approximately $21 million on power line and substation projects as part of a targeted 2017 program to reduce the number and duration of power outages experienced by the company's 720,000 customers.
The work involves installing enhanced protective devices on wires and poles, rebuilding electric lines, including replacing damaged insulators, poles, cross arms and wire, and installing automated and remote control devices.
The projects are part of West Penn Power's 2016-2020 Long-Term Infrastructure Improvement Plan (LTIIP) approved by the Pennsylvania Public Utility Commission. Ultimately, this special program focuses on distribution infrastructure enhancement projects in the West Penn Power service area, with a total of $88 million to be spent through 2020 on system improvements.
"The additional projects complement the work we already do each year to enhance the reliability of our electric system," said David W. McDonald, president of West Penn Power. "This year, we are targeting work on higher-voltage distribution lines that interconnect with multiple substations as a way of limiting outages, along with installing equipment that can be operated remotely to help speed the restoration process."
The scheduled LTIIP projects in the West Penn Power service area in 2017 include:
The LTIIP work is included in the $235 million in infrastructure projects for 2017 previously announced to help enhance service reliability for customers in West Penn Power's 24-county service area.
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of similar equipment being installed as part of West Penn Power's Long-Term Infrastructure Improvement Plan are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
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SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 3, 2017 /PRNewswire/ -- The websites for FirstEnergy Corp. (NYSE: FE) and its 10 electric companies are being transformed with a new, user-friendly layout and design that is optimized for any device or screen size.
"Our redesigned website recognizes that customers and other stakeholders expect immediate access to the information and transactions they need," said Gretchan Sekulich, FirstEnergy's vice president of Communications and Branding. "Our new site includes a clean, modern layout, with content that is easy to consume on smart phones and tablets, as well as computers."
Phase one of the redesigned site includes a new corporate home page at www.firstenergycorp.com that promotes key initiatives, highlights frequent customer transactions and provides flexible spaces to share company news and programs. Each of the 10 electric company home pages have also been redesigned to make it easier for customers and stakeholders to find the information they need.
FirstEnergy has also introduced a redesigned newsroom, outage reporting, safety information, help section, and customer account area, where customers can manage their account settings, pay bills, sign up for alerts or electronic billing, submit meter readings and conduct other transactions. The redesign will roll out to the remainder of the website in phases through the first half of 2018.
The new site replaces the mobile FirstEnergy website that was launched in 2013, which provided only a streamlined selection of content.
This project is part of the company's ongoing effort to enhance service to its utility customers. FirstEnergy also offers a recently updated smartphone app, text messaging and alert services, a 24/7 Power Center that provides outage locations, causes and restoration estimates, and Facebook and Twitter accounts for each of its 10 operating companies. More information about these communication tools can be found at www.firstenergycorp.com/connect.
Customers of FirstEnergy's 10 utilities can navigate directly to their electric company website through the following links:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
View original content:http://www.prnewswire.com/news-releases/firstenergy-introduces-redesigned-website-300499285.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Aug. 3, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has completed circuit upgrade projects in more than 50 municipalities to benefit nearly 63,000 customers. The upgrades are part of JCP&L's plan to invest $359 million during 2017 on infrastructure projects and other work to enhance service reliability across its 13-county service area.
The enhancements include installing fault indicators and reclosers that automatically help pinpoint problem areas, allowing the majority of customers to be isolated from the outage location and restored more quickly as repairs are made to where the damage occurred.
The projects also include the installation of more resilient fuses, animal guards and lightning protection devices; replacing wire; and enhanced tree trimming efforts.
"Circuit upgrades are an important part of the work that is performed each year to enhance customer reliability," said Mark Jones, vice president of Operations. "By adding new, automated equipment throughout our system we can help prevent outages, or reduce the duration if an outage occurs."
Circuit upgrades were completed in the following counties and municipalities:
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of JCP&L's circuit enhancement work are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content:http://www.prnewswire.com/news-releases/jcpl-completes-30-distribution-line-upgrades-to-enhance-service-to-customers-300499276.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 27, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported second quarter 2017 GAAP earnings of $174 million or $0.39 per basic and diluted share of common stock, on revenue of $3.3 billion. Operating (non-GAAP) earnings* for the second quarter of 2017 were $0.61 per basic share of common stock.
These results compare to a GAAP loss of $1.1 billion, or $(2.56) per basic and diluted share of common stock, for the second quarter of 2016 on revenue of $3.4 billion. Operating (non-GAAP) earnings in the second quarter of 2016 were $0.56 per basic share of common stock.
"We are pleased with the continued solid performance of our regulated businesses in the second quarter, reflecting our customer-focused growth initiatives," said Charles E. Jones, FirstEnergy president and chief executive officer. "We remain on track to achieve the operating earnings guidance we outlined earlier this year."
The company revised its expected 2017 GAAP earnings range to $1.95 to $2.25 per basic share, and reaffirmed its operating (non-GAAP) earnings guidance of $2.70 to $3.00 per basic share. FirstEnergy also provided a third quarter 2017 GAAP earnings estimate of $0.73 to $0.88 per basic share, with operating (non-GAAP) earnings guidance of $0.75 to $0.90 per basic share. For the fourth quarter of 2017, the company expects GAAP earnings in the range of $0.36 to $0.51 per basic share, and provided operating (non-GAAP) earnings guidance of $0.55 to $0.70 per basic share.
In FirstEnergy's Regulated Distribution business, second quarter 2017 earnings increased compared to the prior-year period as a result of new rates that went into effect in Ohio, Pennsylvania and New Jersey in January, which offset lower weather-related distribution deliveries and higher operating and maintenance and depreciation expenses.
Total distribution deliveries decreased 0.7 percent compared to the second quarter of 2016, primarily due to the impact of milder weather on residential and commercial sales. Residential and commercial sales decreased 4.6 percent and 1.5 percent, respectively. In the industrial sector, deliveries increased 3.6 percent, primarily as a result of higher usage in the shale gas and steel sectors.
In the Regulated Transmission business, earnings increased compared to the second quarter of 2016 as a result of higher transmission revenues, which offset higher operating expenses.
In the Competitive Energy Services segment, results improved compared to the prior year period due to lower asset impairment and plant exit costs as compared to the second quarter of 2016. Second quarter 2017 earnings also benefited from lower depreciation expense related to impairments recognized in 2016, but this was more than offset by lower commodity margin resulting primarily from lower capacity revenue.
The company's second quarter 2017 earnings were also impacted by higher interest expense and a higher effective income tax rate.
For the first six months of 2017, the company reported GAAP net income of
$379 million, or $0.86 per basic share ($0.85 diluted), on revenue of $6.9 billion. This compares to a first-half 2016 GAAP loss of $761 million, or $(1.79) per basic and diluted share of common stock, on revenues of $7.3 billion.
Operating (non-GAAP) earnings in the first half of 2017 were $1.39 per basic share, compared to $1.35 per basic share of common stock in the first six months of 2016.
Consolidated GAAP EPS to Operating (Non-GAAP) EPS* Reconciliation
|
||||||||||||||
Second Quarter |
Year-To-Date |
2017 Estimates |
||||||||||||
2017 |
2016 |
2017 |
2016 |
Full |
Third |
Fourth |
||||||||
Basic Earnings (Loss) Per Share (GAAP) |
$0.39 |
$(2.56) |
$0.86 |
$(1.79) |
$1.95 - $2.25 |
$0.73 - $0.88 |
$0.36 - $0.51 |
|||||||
Excluding Special Items*: |
||||||||||||||
Regulatory charges |
0.01 |
0.01 |
0.02 |
0.11 |
0.04 |
0.01 |
— |
|||||||
Mark-to-market adjustments |
0.01 |
0.11 |
0.08 |
0.01 |
0.08 |
— |
— |
|||||||
Asset impairment/Plant exit costs |
0.19 |
2.99 |
0.42 |
2.99 |
0.42 |
— |
— |
|||||||
Trust securities impairment |
0.01 |
— |
0.01 |
0.01 |
0.01 |
— |
— |
|||||||
Merger Accounting – commodity contracts |
— |
0.01 |
— |
0.02 |
— |
— |
— |
|||||||
Debt redemption costs |
— |
— |
— |
— |
0.20 |
0.01 |
0.19 |
|||||||
Total Special Items* |
0.22 |
3.12 |
0.53 |
3.14 |
0.75 |
0.02 |
0.19 |
|||||||
Basic EPS - Operating (Non-GAAP) |
$0.61 |
$0.56 |
$1.39 |
$1.35 |
$2.70 - $3.00 |
$0.75 - $0.90 |
$0.55 - $0.70 |
|||||||
* Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by the weighted average basic shares outstanding and assumes up to $600 million of additional equity in 2017, of which ~$100 million relates to employee benefit and other plans. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pretax amount. The income tax rates range from 35% to 42%.
|
||||||||||||||
Non-GAAP financial measures
*Operating (non-GAAP) earnings (losses) exclude "special items" as described herein, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items are not necessarily non-recurring. Management uses operating (non-GAAP) earnings (losses) and operating (non-GAAP) earnings (losses) by segment to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Management believes that the non-GAAP financial measure of operating (non-GAAP) earnings (losses) provides a consistent and comparable measure of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the second quarter and first half of the year, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on Second Quarter 2017 Consolidated Report to the Financial Community.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Second Quarter 2017 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits, including the United States Department of Energy study; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and likely FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and likely FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content:http://www.prnewswire.com/news-releases/firstenergy-announces-second-quarter-2017-results-300495705.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 20, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the second quarter and first half of 2017 after markets close on Thursday, July 27. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Friday, July 28. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its second quarter Consolidated Report to the Financial Community to the investor section of the website after markets close on July 27.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
View original content:http://www.prnewswire.com/news-releases/firstenergy-to-webcast-second-quarter-earnings-teleconference-300491604.html
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., July 19, 2017 /PRNewswire/ -- To better serve Mon Power's nearly 6,000 customers in Webster and surrounding counties, its employees have moved to a new service center in Cowen, W. Va., that features more enclosed space to store utility trucks and equipment.
The move is due in part to the June 2016 historic flood which swamped the former service center building and outdoor storage yard with 5 feet of floodwater. Located in a renovated facility about 12 miles southwest of its former location, the new Webster Service Center is out of the flood zone near Cowen and sits atop a hill, 800 feet higher than the old building.
"Last year wasn't the first time our old service center flooded, so we decided it was the right time to move to a higher location," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "Our new facility is a spacious building that offers twice the amount of storage space than we had before. There is plenty of room indoors to park all of our trucks and store much of the materials we need to upgrade electric facilities and make repairs to keep the lights on for our customers."
Mon Power renovated the new location, which was used previously by another company to store records. Modifications included adding a new garage entrance in the side of the building tall enough to comfortably fit bucket and digger trucks, and reconfiguring the interior to accommodate new locker rooms with showers, restrooms, crew rooms and a large conference room.
"Winters are fierce in Webster County, and the ability to park all of our trucks inside a climate-controlled garage and out of the weather is a real benefit for our line crews and, ultimately, our customers," Kauffman said. "We can respond to outage calls more quickly when we don't need to scrape frozen windshields and remove snow from trucks."
Mon Power, a FirstEnergy Corp. subsidiary, serves about 385,000 customers in 34 West Virginia counties. Visit FirstEnergy on the web at www.firstenergycorp.com and follow Mon Power on Twitter @MonPowerWV.
FirstEnergy (NYSE: FE) is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Mon Power's new Webster Service Center are available for download on Flickr.
View original content:http://www.prnewswire.com/news-releases/mon-power-employees-move-to-new-webster-county-service-center-300490724.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 18, 2017 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable September 1, 2017, to shareholders of record at the close of business on August 7, 2017.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content:http://www.prnewswire.com/news-releases/firstenergy-corp-declares-unchanged-common-stock-dividend-300490174.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 18, 2017 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) has elected Ebony L. Yeboah-Amankwah vice president, corporate secretary and chief ethics officer, effective July 30, 2017. She was previously vice president, State and Federal Regulatory Legal Affairs, at the company.
In her new role, Yeboah-Amankwah will serve as a primary liaison to the Board of Directors and oversee the Corporate, Real Estate and Records & Information Compliance departments. She replaces Ketan K. Patel, who left the company in May to pursue other opportunities.
Yeboah-Amankwah joined FirstEnergy in 2005 as an attorney in the Legal Department. Following a series of promotions, she was named executive director of State Affairs in 2011, then executive director, State and FERC Legal Affairs in 2012. She was named to her current position in January 2017, with responsibilities including labor, employment, benefits, real estate and tax law, as well as management of state and Federal Energy Regulatory Commission legal regulatory affairs.
Yeboah-Amankwah holds Bachelor of Arts degrees in political science and philosophy from Washington & Jefferson College, and a law degree from Washington and Lee University.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: A photo of Yeboah-Amankwah is available for download on Flickr.
View original content:http://www.prnewswire.com/news-releases/firstenergy-names-ebony-yeboah-amankwah-vice-president-corporate-secretary-and-chief-ethics-officer-300490120.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 13, 2017 /PRNewswire/ -- The FirstEnergy Foundation has donated $50,000 over two years to the Foundation for Reading Area Community College (RACC) Science of Success Campaign, which will support a $4.5 million renovation of the college's science laboratories.
This project will allow RACC to expand course offerings in the basic sciences and support efforts to encourage students to consider STEM-related careers. The renovated space also will be used to offer customized laboratory training for area businesses.
"FirstEnergy has been working with RACC for many years on our Power Systems Institute program that adds highly-skilled line personnel to our Met-Ed workforce," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to support the 'Science of Success' campaign because it will help enable RACC to do even more to promote workforce development efforts in Berks County."
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
View original content:http://www.prnewswire.com/news-releases/firstenergy-foundation-donates-50000-to-support-reading-area-community-college-300488098.html
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 12, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is undertaking more than $600 million in transmission projects through 2018 in the company's Pennsylvania Electric Company (Penelec) and Metropolitan Edison (Met-Ed) service areas. The projects will benefit more than one million customers by enhancing the flow of electricity across the region and incorporating new, smart technologies to help reduce the frequency and duration of power outages.
Through its Energizing the Future initiative, FirstEnergy will pursue approximately 336 projects through next year to modernize or replace transmission lines, incorporate new, smart technology into the grid, and outfit dozens of electric substations with new equipment, digital communications and enhanced security features. Often considered the interstate highway of the power grid, the transmission system carries energy from where it is generated to the local distribution networks serving homes and businesses.
"The transmission system is essential to delivering reliable electric service to the communities we serve," said Carl Bridenbaugh, vice president, Transmission. "We expect that modernizing our transmission grid will boost the performance of our electric system and help prevent power outages."
Initial projects will focus on rebuilding transmission lines and reinforcing key substations on the 230-kilovolt (kV) network so future improvements can be made without interrupting service to customers. Key projects include:
FirstEnergy launched Energizing the Future in 2014, investing nearly $4.2 billion over the past four years on transmission upgrades primarily in its Ohio service territory. These projects resulted in transmission system reliability improvements that FirstEnergy will seek to replicate across its Pennsylvania territory. FirstEnergy will build these projects through its new transmission affiliate company, Mid-Atlantic Interstate Transmission, LLC (MAIT).
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Construction photos are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
View original content:http://www.prnewswire.com/news-releases/firstenergy-launches-grid-modernization-program-in-pennsylvania-300487145.html
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., July 10, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a FirstEnergy Corp. (NYSE: FE) subsidiary, announced today that Mark A. Jones, has been named vice president of Operations and John Anderson has been named vice president of External Affairs.
In his new position, Jones is responsible for the operation and maintenance of JCP&L's transmission and distribution systems that cover more than 3,200-square-miles of northern and central New Jersey, including line and substation operations, dispatching, engineering, meter reading, forestry and support service. Previously, Jones had been JCP&L vice president of External Affairs since 2012. He succeeds Tony Hurley as vice president of Operations.
Anderson replaces Jones as vice president of External Affairs and will lead a team of 10 area managers and 21 customer support personnel. JCP&L's External Affairs group serves as liaisons with municipal governments, key commercial and industrial customers, and civic organizations, as well as providing support for community involvement activities.
"Mark and John are proven leaders in the company and industry and will continue to build on the results we have achieved to deliver customers the safe and reliable service they expect and deserve," said Jim Fakult, president of JCP&L.
Jones has more than 25 years of experience in the electric utility industry. Prior to joining FirstEnergy, he was employed by SD Myers. He began his career at FirstEnergy in 1999 as an industrial account manager with The Illuminating Company utility and had served in leadership positions in sales, customer support and external affairs prior to being named vice president of External Affairs at JCP&L in 2012.
He serves on numerous state and local infrastructure, economic development and emergency preparedness boards including: Commerce and Industry Association of New Jersey; New Jersey League of Municipalities Education Foundation; New Jersey Emergency Preparedness Association; and Choose New Jersey.
Jones earned a bachelor's degree from Kent State University, in Kent, Ohio.
Anderson started his career with JCP&L in 1993 as a forestry supervisor and has held a variety of managerial positions in Forestry, Operations and External Affairs. Since 2007, he has served as an area manager, most recently for parts of Hunterdon and Somerset counties, and was the outreach lead for JCP&L's "Energizing the Future" transmission enhancement program.
He serves on the boards of the Hunterdon County Chamber of Commerce, Somerset County Business Partnership and Hunterdon County Shade Tree Commission. He also is co-chairman of the Somerset County Employer Legislative Committee.
Anderson earned a bachelor's degree from Rutgers University and is a native of Bridgewater Township, N.J.
JCP&L is a subsidiary of FirstEnergy Corp. JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Mark Jones and John Anderson are available for download on Flickr.
View original content:http://www.prnewswire.com/news-releases/jersey-central-power--light-announces-changes-to-leadership-team-300485214.html
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, June 30, 2017 /PRNewswire/ -- For many northwest Ohioans, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. Toledo Edison is inviting its customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through the Toledo Edison Facebook page (www.facebook.com/ToledoEdison) until July 10. Up to 10 finalists will be selected by Toledo Edison based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Toledo Edison Facebook page. The "Summer of Cool" contest is open only to Toledo Edison customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Toledo Edison or its advertising agency are not eligible.
Toledo Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison, on Facebook at www.facebook.com/ToledoEdison, or online at www.toledoedison.com.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., June 30, 2017 /PRNewswire/ -- For many Pennsylvanians, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. West Penn Power is inviting its customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through the West Penn Power Facebook page (www.facebook.com/WestPennPower) until July 10. Up to 10 finalists will be selected by West Penn Power based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the West Penn Power Facebook page. The "Summer of Cool" contest is open only to West Penn Power customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, West Penn Power or its advertising agency are not eligible.
West Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves approximately 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power, on Facebook at www.facebook.com/WestPennPower, and online at www.West-Penn-Power.com.
SOURCE FirstEnergy Corp.
ERIE, Pa., June 30, 2017 /PRNewswire/ -- For many Pennsylvanians, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. Pennsylvania Electric Company (Penelec) is inviting its customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through the Penelec Facebook page (www.facebook.com/PenelecElectric) until July 10. Up to 10 finalists will be selected by Penelec based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Penelec Facebook page. The "Summer of Cool" contest is open only to Penelec customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Penelec or its advertising agency are not eligible.
Penelec is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves approximately 590,000 customers in 31 Pennsylvania counties. Connect with Penelec on Twitter @Penelec, on Facebook at www.facebook.com/PenelecElectric, and online at www.Penelec.com.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., June 30, 2017 /PRNewswire/ -- For many customers of Potomac Edison, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. Potomac Edison is inviting its customers to show off these outdoor living spaces for a chance to win prizes the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through the Potomac Edison Facebook page (www.facebook.com/PotomacEdison) until July 10. Up to 10 finalists will be selected by Potomac Edison based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Potomac Edison Facebook page. The "Summer of Cool" contest is open only to Potomac Edison customers who are legal residents of West Virginia or Maryland and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Potomac Edison or its advertising agency are not eligible.
Potomac Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Connect with Potomac Edison on Twitter @PotomacEdison, on Facebook at www.facebook.com/PotomacEdison, and online at www.potomacedison.com.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., June 30, 2017 /PRNewswire/ -- For many West Virginians, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. Monongahela Power (Mon Power) is inviting its customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through the Mon Power Facebook page (www.facebook.com/MonPowerWV) until July 10. Up to 10 finalists will be selected by Mon Power based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Mon Power Facebook page. The "Summer of Cool" contest is open only to Mon Power customers who are legal residents of West Virginia and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Mon Power or its advertising agency are not eligible.
Mon Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 385,000 customers in 34 West Virginia counties. Connect with Mon Power on Twitter @MonPowerWV, on Facebook at www.facebook.com/MonPowerWV, and online at www.mon-power.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 30, 2017 /PRNewswire/ -- For many Ohioans, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. Ohio Edison is inviting customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through the Ohio Edison Facebook page (www.facebook.com/OhioEdison) until July 10. Up to 10 finalists will be selected by Ohio Edison based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Ohio Edison Facebook page. The "Summer of Cool" contest is open only to Ohio Edison customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Ohio Edison or its advertising agency are not eligible.
Ohio Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 30, 2017 /PRNewswire/ -- For many New Jerseyans, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. Jersey Central Power & Light (JCP&L) is inviting its customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through JCP&L's Facebook page (www.facebook.com/JCPandL) until July 10. Up to 10 finalists will be selected by JCP&L based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to JCP&L's Facebook page. The "Summer of Cool" contest is open only to JCP&L customers who are legal residents of New Jersey and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, JCP&L or its advertising agency are not eligible.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 30, 2017 /PRNewswire/ -- For many northeast Ohioans, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. The Illuminating Company is inviting its customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through The Illuminating Company Facebook page (www.facebook.com/IlluminatingCo) until July 10. Up to 10 finalists will be selected by The Illuminating Company based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to The Illuminating Company Facebook page. The "Summer of Cool" contest is open only to The Illuminating Company customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, The Illuminating Company or its advertising agency are not eligible.
The Illuminating Company is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo, on Facebook at www.facebook.com/IlluminatingCo, and online at www.illuminatingcompany.com.
SOURCE FirstEnergy Corp.
READING, Pa., June 30, 2017 /PRNewswire/ -- For many Pennsylvanians, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. Metropolitan Edison Company (Met-Ed) is inviting its customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through the Met-Ed Facebook page (www.facebook.com/MetEdElectric) until July 10. Up to 10 finalists will be selected by Met-Ed based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Met-Ed Facebook page. The "Summer of Cool" contest is open only to Met-Ed customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Met-Ed or its advertising agency are not eligible.
Met-Ed is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves approximately 560,000 customers in 15 Pennsylvania counties. Connect with Met-Ed on Twitter @Met_Ed, on Facebook at www.facebook.com/MetEdElectric, and online at www.met-ed.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 30, 2017 /PRNewswire/ -- For many western Pennsylvanians, summer is the season of backyard barbeques, reading on the patio, and relaxing on the deck under the stars. Penn Power is inviting its customers to show off these outdoor living spaces for a chance to win prizes in the company's inaugural "Summer of Cool" Photo Contest.
Submit a photo of your personal retreat – whether it's a tiny balcony or a spacious backyard – through the Penn Power Facebook page (www.facebook.com/PennPower) until July 10. Up to 10 finalists will be selected by Penn Power based on criteria such as overall design, decor, outdoor lighting and appeal. Finalists' photos will be posted on Facebook for public voting from July 11 until July 21.
The grand prize winner will receive a $200 Visa® gift card and two light bulbs containing Bluetooth speakers. The first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Penn Power Facebook page. The "Summer of Cool" contest is open only to Penn Power customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Penn Power or its advertising agency are not eligible.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 29, 2017 /PRNewswire/ -- As the summer season is in full swing, FirstEnergy Corp.'s (NYSE: FE) utilities remind customers to use caution near electrical equipment as they work and explore outdoors.
While summertime is associated with climbing trees, flying kites, yard work and water activities, it is important to stay clear of power lines and other equipment when outside – and remind children to do the same – to help stay safe.
FirstEnergy utilities include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Jersey Central Power & Light (JCP&L) in New Jersey; Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; and Potomac Edison in Maryland.
Some important FirstEnergy summer safety messages can be viewed here: http://bit.ly/FEsummersafety.
Keep in mind the following when playing or working outdoors:
Other FirstEnergy summer safety tips are available at: www.firstenergycorp.com/safety.
In addition, if summer storms result in downed wires it is important to avoid the area and immediately call FirstEnergy. If you see a downed power line, always assume it is live and dangerous and follow these steps. Report downed power lines immediately by calling 1-888-LIGHTSS (888-544-4877). Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
Guidelines for Working Outside and Operating Power Tools
Guidelines for Extension Cords
"Electricity allows our customers to enjoy many activities, but it is important to remember that there are any number of summertime activities that can present unexpected hazards near utility lines," said David J. Karafa, vice president of distribution support for FirstEnergy. "Knowing where our equipment is and taking steps to avoid contacting it is the best way to prevent mishaps."
FirstEnergy also has safety tips for contractors available at: https://www.firstenergycorp.com/help/safety/working/contractors.html
For updated company information, including safety and hot weather tips, go visit the 24/7 Power Center www.firstenergycorp.com/outages. The utility companies also will provide updates via Twitter:
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., June 22, 2017 /PRNewswire/ -- The FirstEnergy Foundation will donate $200,000 over two years to help fund Pierpont Community & Technical College's new training facility to help prepare West Virginians for today's jobs.
Opened last year in the I-79 Technology Park in Fairmont, Pierpont's North Central Advanced Technology Center (ATC) houses innovative classrooms that simulate workplaces such as health clinics, manufacturing floors and electric substations. The new center augments the programs offered at Pierpont's nearby campus shared with Fairmont State University.
FirstEnergy Foundation's grant to the Pierpont Community & Technical College Foundation will be used to sustain and update program needs at the ATC.
"We've been partnering with Pierpont for our Power Systems Institute line and substation worker training program for years, and we share their commitment to training West Virginians to succeed in today's technical workplace," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "We want West Virginians to be first in line for the new jobs in the energy, advanced manufacturing and health and science fields being created right here at home in West Virginia."
The goal of the ATC is to provide graduates who enter the regional workforce with the education and technical skills necessary to succeed in higher wage jobs available in the medical, energy, chemical and information technology industries. This will support local communities and aid the state's continued efforts to diversify its economy.
Since FirstEnergy forged its PSI partnership with Pierpont in 2012, 91 PSI graduates have been hired as line or substation employees for FirstEnergy's Mon Power, Potomac Edison and West Penn Power utilities. Students spend two-and-a-half days each week at the ATC completing academic course work with the remainder of the week spent at a Mon Power training facility in White Hall, W.Va., focusing on safe work practices and procedures in the electrical environment.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of Holly Kauffman, president of FirstEnergy's West Virginia Operations, presenting a check to representatives of Pierpont Community & Technical College to help support the new North Central Advanced Technology Center are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 21, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that James H. Lash, executive vice president of FirstEnergy and president, FirstEnergy Generation, will retire effective August 1, 2017 after 28 years with the company.
"Jim has built a world-class organization through his longstanding commitment to safety and operational excellence, and the company has benefited significantly from his many years of dedicated service," said Charles E. Jones, FirstEnergy president and chief executive officer. "His strategic and thoughtful leadership of FirstEnergy Generation has been greatly appreciated in today's continually evolving utility industry."
Upon Mr. Lash's retirement, Samuel L. Belcher, FirstEnergy Nuclear Operating Company (FENOC) president and chief nuclear officer, will report to Mr. Jones and be the company's primary contact with the Nuclear Regulatory Commission, Institute of Nuclear Power Operations, Nuclear Energy Institute and other nuclear industry groups. Mr. Belcher rejoined FirstEnergy in 2012 as vice president and chief operations officer, having previously served as FENOC fleet operations director.
Mr. Lash's retirement follows a long and distinguished career in the nuclear industry. After graduating from the United States Naval Academy, he served as an officer in the United States Navy on the nuclear-powered guided missile cruisers USS Mississippi and USS Long Beach. He was later employed by Stone and Webster Engineering Corporation before joining Davis-Besse Nuclear Power Station in 1989 as safety engineering manager. In 1994, Mr. Lash was named manager of design engineering at Davis-Besse and earned his senior reactor operator license for the plant the same year. By 1996, he had advanced to plant manager. From 2000 to 2002, he served as a loaned executive to the Institute of Nuclear Power Operations in Atlanta, Ga., before returning to FENOC as Beaver Valley's director of Personnel Development. In 2003, Mr. Lash was promoted to director of site operations and two years later, to site vice president. He became senior vice president of Operations in 2007. In May 2010, he advanced to president, FirstEnergy Generation and chief nuclear officer and was named to his current position in 2015.
Mr. Lash is a member of the American Nuclear Society. He serves on the Executive Committee and Board of the Nuclear Energy Institute, as well as the Institute of Nuclear Power Operations Training Accreditation Board. He previously served on the Board of Directors of The Allegheny Conference and the Electric Power Research Institute.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of coal, nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Jim Lash's photo is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated 's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 14, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) recently energized a new 69-kilovolt (kV) transmission line and upgraded two local electric substations to reinforce the power grid and enhance service reliability for electric customers in Huron County, Ohio, and the surrounding area.
The $20 million project strengthens the local electric system and helps boost the performance of five key transmission lines serving Ohio Edison customers. It also provides a secondary feed for nearly 5,000 Firelands Electric Cooperative customers served through FirstEnergy's transmission system. The two-way feed helps isolate and shorten the duration of power outages and also provides more flexibility for scheduled system maintenance.
The line route extends about 12 miles between existing substations in Norwalk, Ohio, and North Fairfield, Ohio, passing through Ridgefield, Peru, Greenfield and Fairfield townships. The new line follows existing roads for about nine miles before it connects with an existing transmission line that was rebuilt with new wooden poles capable of carrying both the existing wires and the new transmission line.
FirstEnergy also installed remote control switching devices on the line to assess operational conditions more quickly, helping to reduce the length and frequency of power outages. The substations at each end of the line were expanded on company-owned property to accommodate advanced equipment designed to remotely isolate power outages as well as maintain proper voltage on the system.
"The transmission system is the backbone of our electric grid and we're committed to strengthening this vital link between our power sources and our communities," said Kevin Sestak, vice president, Operations, Ohio Edison. "The project delivers enhanced service reliability for Huron County homes and businesses and gives our crews greater flexibility to restore outages on the transmission system faster."
The project is part of Energizing the Future, a multi-year investment initiative aimed at upgrading FirstEnergy's transmission facilities with advanced equipment and technologies that will reinforce the power grid and help reduce the frequency and duration of customer outages. Since 2014, FirstEnergy has upgraded or replaced existing transmission lines, incorporated new, smart technology into the grid, and outfitted dozens of substations with new equipment and enhanced security features. These upgrades are producing reliability improvements across the company's transmission system. FirstEnergy will continue these investments through 2021, with planned spending of $4.2 to $5.8 billion over the next five years.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Construction photos are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated 's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., June 14, 2017 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 20 new line and substation employees from the Power Systems Institute (PSI) training program as part of its ongoing efforts to enhance service reliability for customers in West Virginia.
The new employees include 18 line workers and two new substation electricians who are recent graduates of the company's Power Systems Institute (PSI), a utility training partnership established in 2012 with Pierpont Community & Technical College in Fairmont, W.Va.
"The PSI program is the pipeline that ensures we have well-trained, highly skilled employees to provide safe, reliable electric service for our customers," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "The new graduates will work shoulder-to-shoulder with our veteran linemen and substation personnel, and fill key jobs as current employees retire."
The new Mon Power lines employees, listed by work location, with their hometowns are:
The new Mon Power substation employees, listed by work location with their hometowns are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI curriculum requires two-and-a-half days each week spent at Pierpont completing academic course work with the remainder of the week spent at a Mon Power training facility in White Hall, W.Va., focusing on safe work practices and procedures in the electrical environment. Ultimately, students earn an associate of applied science degree in Electric Utility Technology.
Since the program was developed in 2000, FirstEnergy has hired nearly 1,500 line and substation personnel who completed PSI programs in Ohio, Pennsylvania, New Jersey and West Virginia.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Visit FirstEnergy on the web at www.firstenergycorp.com and follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
READING, Pa., June 14, 2017 /PRNewswire/ -- Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 24 graduates of the company's utility worker training program as part of its ongoing efforts to enhance reliability for customers in its Pennsylvania service area.
The new employees include 19 line workers that represent the first graduating class of the company's Power Systems Institute (PSI) training program established in 2014 at Edinboro University's Porecco College in Erie, Pa. In addition, five substation electricians have been hired after graduating from the existing PSI program at Pennsylvania Highlands Community College in Johnstown, Pa., which was reinstituted by FirstEnergy in 2014.
"The PSI program is an effective pipeline for adding well-trained, highly skilled employees to our workforce," said Scott Wyman, regional president of Penelec. "By teaming with our veteran linemen and substation personnel, these new employees will help ensure reliable service for our customers, now and in the future."
The new Penelec lines employees listed by work location, with their hometowns, are:
The new Penelec substation employees listed by work location, with their hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI students split time between classes at Porecco College and Pennsylvania Highlands Community College completing academic course work, and Penelec training facilities in Erie and Richland. All students focus on safe work practices and procedures in the electrical environment. The graduates earned an associate of applied science degree in Electric Utility Technology.
Since the program's inception, FirstEnergy has hired nearly 1,500 line and substation personnel who completed PSI programs in Maryland, West Virginia, Ohio, Pennsylvania and New Jersey.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Penelec serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
READING, Pa., June 14, 2017 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 22 recent graduates of the company's utility worker training program as part of its ongoing efforts to enhance reliability for customers in its eastern Pennsylvania service territory.
The new employees include 13 line workers and three substation electricians that represent the first graduating class since the Power Systems Institute (PSI) training program was reinstituted by FirstEnergy at Reading Area Community College (RACC) in Reading, Pa., in 2014.
In addition, six current Met-Ed employees making a career change also completed the PSI program, with two being added as line workers and four as substation electricians.
"The PSI program is an effective pipeline for adding well-trained, highly skilled employees to our workforce," said Ed Shuttleworth, regional president of Met-Ed. "By teaming with our veteran linemen and substation personnel, these new employees will help ensure reliable service for our customers, now and in the future."
The new Met-Ed lines employees listed by work location, with their hometowns, are:
The new Met-Ed substation employees listed by work location, with their hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI students split time between classes at Reading Area Community College completing academic course work, with the remainder of the week spent at a Met-Ed training facility in Reading. All students focus on safe work practices and procedures in the electrical environment. The graduates earned an associate of applied science degree in Electric Utility Technology.
Since the program's inception, FirstEnergy has hired nearly 1,500 line and substation personnel who completed PSI programs in Maryland, West Virginia, Ohio, Pennsylvania and New Jersey.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter: @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 14, 2017 /PRNewswire/ -- The Illuminating Company, a FirstEnergy Corp. (NYSE: FE) utility, has hired 20 graduates of the company's utility worker training program as part of its ongoing efforts to enhance service reliability for customers in northeast Ohio.
The new line workers represent the first graduating class since the Power Systems Institute (PSI) training program was reinstituted by FirstEnergy at Cuyahoga Community College (Tri-C) in 2014.
"The PSI program is an effective pipeline for adding well-trained, highly skilled employees to our workforce," said John Skory, regional president of The Illuminating Company. "By teaming with our veteran linemen as part of the training process, these new employees will help ensure reliable service for our customers, now and in the future."
The new Illuminating Company lines employees listed by work location, with their hometowns, are:
In addition, two graduates of the Tri-C-based PSI program – Patrick Canfield of LaGrange and Zach Truman of Lorain – will be working for Ohio Edison in Elyria.
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
PSI students split time between classes at Tri-C and The Illuminating Company's training facility in Brooklyn. Since the program's inception, FirstEnergy has hired nearly 1,500 line and substation personnel who completed PSI programs in Maryland, New Jersey, Ohio, Pennsylvania and West Virginia.
For information about the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy Power Systems Institute graduates are available upon request.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., June 14, 2017 /PRNewswire/ -- West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 29 new line and substation employees from the Power Systems Institute (PSI) training program as part of its ongoing efforts to enhance service reliability for customers in Pennsylvania.
The new employees include 19 line workers who are recent graduates of the company's Power Systems Institute (PSI), a utility training partnership established with Westmoreland County Community College in Youngwood, Pa. in 2012. Three additional new line workers graduated from a partnering college outside the state.
The seven new substation electricians graduated from Pennsylvania Highlands Community College in Johnstown, Pa., and another partnering college outside the state.
"The PSI program is an effective pipeline for adding well-trained, highly skilled employees to our workforce," said David W. McDonald, president of West Penn Power. "By teaming with our veteran linemen and substation personnel, these new employees will help ensure reliable service for our customers, now and in the future."
The new West Penn Power lines employees listed by work location with their hometowns, are:
The new West Penn Power substation employees listed by work location with their hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI curriculum for lines employees requires two-and-a-half days each week spent at Westmoreland County Community College completing academic course work, with the remainder of the week spent at a West Penn Power training facility in Jeanette, Pa. The PSI curriculum for substation employees requires a half week spent at Pennsylvania Highlands completing academic course work, with the rest of the week spent at a Penelec training facility in Johnstown, Pa. All students focus on safe work practices and procedures in the electrical environment. The graduates earned an associate of applied science degree in Electric Utility Technology.
Since the program was developed in 2000, FirstEnergy has hired nearly 1,500 line and substation personnel who completed PSI programs in Ohio, Pennsylvania, New Jersey and West Virginia.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 14, 2017 /PRNewswire/ -- Ohio Edison and Pennsylvania Power (Penn Power), FirstEnergy Corp. (NYSE: FE) utilities, have hired 54 graduates of the companies' utility worker training programs as part of its ongoing efforts to enhance service reliability for customers in northeast Ohio.
The new line workers represent the first graduating class since the Power Systems Institute (PSI) training program was reinstituted by FirstEnergy at Stark State College in North Canton and Kent State University at Trumbull in Warren in 2014.
"The PSI program is an effective pipeline for adding well-trained, highly skilled employees to our workforce," said Randall Frame, regional president of Ohio Edison and Penn Power. "The rigorous class work and experience gained in the field by working with veteran line and substation personnel helps ensure safe and reliable electric service for our customers, now and in the future."
The new Ohio Edison lines employees listed by work location, with their hometowns, are:
The new Ohio Edison substation employees listed by work location, with their hometowns, are:
The new Penn Power lines employees listed by work location, with their hometowns, are:
The new Penn Power substation electrician employees listed by work location, with their hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
PSI students split time between classes at Stark State and Kent State Trumbull and Ohio Edison training facilities in Massillon and Warren. Since the program's inception, FirstEnergy has hired nearly 1,500 line and substation personnel who completed PSI programs in Maryland, New Jersey, Ohio, Pennsylvania and West Virginia.
For information about the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Ohio Edison is a subsidiary of FirstEnergy Corp. and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com. Follow Penn Power on Twitter @Penn Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy Power Systems Institute graduates are available upon request.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 14, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has hired 35 graduates of the company's utility worker training program as part of its ongoing efforts to enhance service reliability for customers in northern and central New Jersey.
The new employees include 27 line workers and eight substation electricians that are members of the first graduating classes since the Power Systems Institute (PSI) training programs were reinstituted at Brookdale Community College in Lincroft and Raritan Valley Community College in Branchburg in 2014.
"PSI-trained employees are prepared to immediately enter the JCP&L workforce and help maintain and expand our electric system," said Jim Fakult, president of JCP&L. "The rigorous class work and experience gained in the field by working with veteran JCP&L line and substation personnel helps deliver safe and reliable electric service for our customers, now and in the future."
The new lines employees and hometowns are: Anthony Amato, Belford; Kyle Anderson, South Amboy; Nicholas Bautz, Landing; Michael Bodoh, Oakhurst; Douglas Bruder, Bayville; Brendan Campbell, Leonardo; Eric Comunale, Bangor, Pa.; Zachary Comunale, Bangor, Pa.; Jesse Deleasa, Great Meadows; Nate Foster, Brick; Charles Geran III, Toms River; David Kienzle, Bangor, Pa.; Steve Kiernan, Oakhurst; Theodore Klamerus, Newton; Edwin Klecan, Monroe Township; Devon Kramer, Kintnersville, Pa.; Jacob Kramer, Kintnersville, Pa: Patrick Langan, Hazlet; Eric Mauriello, Howell; Cameron McCusker, Phillipsburg; Adam Miller, Portland, Pa.; Vanessa Patterson, Lebanon; Tyler Renner, Matawan; Jason Schnorrbusch, Brick; Nick Shevchenko, Matawan; Rich Tanner, Glen Gardner; and James Woods, Toms River.
The new substation employees and hometowns are: Guiliano Alano, Somerville; Maurice Gaquer, Brick; Forrest Keigler, Bridgewater; Allan Laupa, Belle Mead; Grant Moore, Whitehouse Station; Jacob Sarson, Belvidere; Chris Spedden, Denville and Devin Weiss, Monmouth Junction.
In addition, six current JCP&L employees also completed the PSI program. They include: James Floyd, Hackettstown, line; Tarrel Lester, Morristown, line; Daniel McKnight, Little Egg Harbor, line; James Potter, Forked River, line; Lance Vannatta, Phillipsburg, line; and Kevin Nagle, Barnegat, substation.
As part of the training program, all the graduates will be rotated among various line and substation shops across JCP&L's service area before being assigned to a permanent work location.
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
PSI students split time between classes at the two colleges and JCP&L training facilities in Farmingdale and Philipsburg. Since the program's inception, FirstEnergy has hired nearly 1,500 line and substation personnel who completed PSI programs in Maryland, New Jersey, Ohio, Pennsylvania and West Virginia.
For information about the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of the recent JCP&L Power Systems Institute graduates are available upon request.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, June 14, 2017 /PRNewswire/ -- Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 19 graduates of the companies' utility worker training programs as part of its ongoing efforts to enhance service reliability for customers in northwest Ohio.
The new line workers represent the first graduating class since the Power Systems Institute (PSI) training program was reinstituted by FirstEnergy at Owens Community College in Perrysburg, Ohio.
"The PSI program is an effective pipeline for adding well-trained, highly skilled employees to our workforce," said Rich Sweeney, regional president of Toledo Edison. "The rigorous class work and experience gained in the field by working with veteran line and substation personnel helps ensure our ability to maintain safe and reliable electric service for our customers."
The new Toledo Edison lines employees listed by work location, with their hometowns, are:
The new Toledo Edison substation employees listed by work location, with their hometowns, are:
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
PSI students split time between classes at Owens Community College and Toledo Edison training facilities. Since the program's inception, FirstEnergy has hired nearly 1,500 line and substation personnel who completed PSI programs in Maryland, New Jersey, Ohio, Pennsylvania and West Virginia.
For information about the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy on the web at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy Power Systems Institute graduates are available upon request.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 14, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has earned recognition for its emergency response efforts from the Edison Electric Institute (EEI), a leading electric industry organization, following a significant wind event that caused more than 364,000 customers in Ohio and Pennsylvania to lose power in early March of this year.
More than 4,500 company line workers, contractors, damage assessors, forestry specialists, support personnel, and line workers from other utilities, were part of the large-scale emergency effort that restored a majority of customers within 24 hours, and 98 percent within 48 hours. Overall, about 438,000 man-hours were worked, including replacing 500 utility poles, 200 transformers and more than 30 miles of wire.
The wind event began March 8, producing sustained winds of 40 mph for more than 12 hours, with peak gusts measuring 70 mph in the Youngstown, Ohio, area. The high winds and resulting downed trees and debris that blocked roads complicated the restoration efforts. Because other utilities in the Great Lakes region also experienced wind-related outages, outside assistance was limited in the first 36 hours of the event.
"As a large utility, we can quickly mobilize internal resources to help speed the restoration process for our customers," said Steven Strah, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "It is very gratifying to be honored by EEI with the Emergency Recovery Award for the work that was done by our employees to safely make repairs in thousands of damage locations in a timely manner."
"The tireless work of FirstEnergy crews to restore service following the March storm exemplifies our industry's commitment to customer service," said EEI President Tom Kuhn. "The courageous and dedicated FirstEnergy crews who faced hazardous conditions are greatly deserving of this recognition."
EEI presents awards twice annually to member companies to recognize their extraordinary efforts to restore service to customers after severe weather conditions caused numerous service disruptions. Winners were chosen by a panel of judges following an international nomination process. The awards were presented June 13, 2017, during EEI's annual convention in Boston.
This marks the 21st time that FirstEnergy has been honored by EEI with the Emergency Recovery Award for work done to restore its own customers, or the Emergency Assistance Award, which recognizes work done to assist other utilities restoring electric service during emergency events.
EEI is the association that represents all U.S. investor-owned electric companies. Members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. EEI has more than 60 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter: @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
Editor's Note: A photo of Charles Jones, president and chief executive officer, FirstEnergy Corp., accepting the emergency recovery award from EEI President Tom Kuhn is available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 12, 2017 /PRNewswire/ -- Residential customers of FirstEnergy Corp.'s (NYSE: FE) Ohio utilities (Ohio Edison, Toledo Edison and The Illuminating Company) can sign up to receive an Energy Conservation Kit, which includes information about saving energy and a variety of energy-efficient items that can be easily installed in the home to save on lighting, heating and cooling, water or other energy-related costs.
Kits are available at no additional cost and include energy-efficient LED light bulbs, LED nightlights, a furnace filter whistle and other valuable energy-saving components. Customers with electric water heaters may be eligible to receive additional water-saving products, such as a low-flow showerhead or faucet aerator. Visit www.ohioenergykit.com or call 1-888-793-6768 to request a kit. Customers will need their utility account number to place their order.
"The Energy Conservation Kit makes saving energy at home easier and more affordable," said Wade Williams, manager of residential energy efficiency programs for FirstEnergy's utilities. "With valuable energy-saving tips and equipment, the kit provides additional tools to help our customers manage their electricity use and make simple improvements to save energy throughout the home."
Additional energy efficiency programs for residential customers of FirstEnergy's Ohio utilities, including Home Energy Audits and incentives on HVAC equipment and upgrades, are expected in the coming months. For information about the energy efficiency programs offered by FirstEnergy's Ohio utilities, visit www.energysaveOhio.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 8, 2017 /PRNewswire/ -- The first hot temperatures of the year are expected in the next few days, and FirstEnergy Corp.'s (NYSE: FE) utilities have some common-sense hot weather tips customers can follow to stay comfortable while using electricity wisely during this period of high demand:
In addition, FirstEnergy utilities have completed inspections of their transmission and distribution systems to assure they are prepared to help meet the anticipated increase in demand for electricity as temperatures rise.
FirstEnergy utilities include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Jersey Central Power & Light in New Jersey; Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; and Potomac Edison in Maryland.
For updated company information, including hot weather tips, customers are urged to visit the 24/7 Power Center at www.firstenergycorp.com/outages. The utility companies also will provide updates via Twitter:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. Visit FirstEnergy on the web at www.firstenergycorp.com, and on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 6, 2017 /PRNewswire/ -- As part of Jersey Central Power & Light's (JCP&L) ongoing efforts to make its electric system stronger and more flexible, a new transmission line has been energized in Monmouth County to benefit more than 180,000 customers in Colts Neck, Howell, Neptune, Tinton Falls and Wall.
The $124 million Oceanview Reinforcement Project is the second JCP&L transmission project in Monmouth County to go into service over the past several weeks in advance of the summer season that produces higher demand for electricity. A new transmission line connecting substations in the Eatontown area was energized in May.
The Oceanview Project is a 16-mile, 230-kilovolt (kV) transmission line built along existing right-of-way with steel pole construction to connect JCP&L substations in Howell and Neptune. In addition, an existing 230-kV transmission line connecting substations in Colts Neck and Neptune was rebuilt using steel poles. Overall, the project involved installing 11 five-ton circuit breakers and remote-control communications equipment at the substations.
"This vital infrastructure enhancement project was completed in a timely and efficient manner thanks to the cooperation we received from multiple municipal, county and state officials and agencies," said Mark Jones, JCP&L vice president of operations. "The project will help provide safe and reliable electric service to our customers this summer and in the future."
The Monmouth County transmission line projects are part of JCP&L's plans to invest $359 million during 2017 on infrastructure projects and other work to enhance reliability across its 13-county northern and central New Jersey service area.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos of site work for the JCP&L Oceanview Reinforcement Project are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated 's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 5, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is rebuilding and modernizing a 69-kilovolt (kV) transmission line to enhance service reliability for approximately 10,000 electric customers near Mansfield, Ohio. When completed this fall, the upgraded line will enhance the flow of electricity across the local system and use smart technologies to help reduce the frequency and duration of power outages.
The $16 million transmission project includes replacing the existing poles and wires with new wood poles capable of carrying new, higher-capacity conductor wires. Approximately 13 miles of wire will be installed on 223 new wood structures within the existing right-of-way. In addition, remote control switching devices and fiber optic cable will be added to allow grid operators to assess operational conditions more quickly. New equipment was also added to three local substations to handle the line's increased capacity and support growing electric demand. The line extends through communities west of Mansfield including Crestline Village and Galion, as well as Jackson, Polk, North Bloomfield and Sandusky townships.
"Upgrading this transmission line will help keep power flowing around the clock to homes and businesses in the area, with minimal impact on local property owners," said Randy Frame, regional president of Ohio Edison. "The new line and remote-control equipment will help strengthen and modernize the grid, and increase the flexibility and redundancy of our system."
Construction is now underway, with the line expected to be fully energized in the fall. No new rights-of-way are needed, and FirstEnergy is working closely with impacted landowners and local public officials to keep them informed about the project. Steps have been taken to help avoid any planned outages during the construction phase.
The project is part of Energizing the Future, a multi-year investment initiative aimed at upgrading FirstEnergy's transmission facilities with advanced equipment and technologies that will reinforce the power grid and help reduce the frequency and duration of customer outages. Since 2014, FirstEnergy has upgraded or replaced existing transmission lines, incorporated new, smart technology into the grid, and outfitted dozens of substations with new equipment and enhanced security features. These upgrades are producing reliability improvements across the company's transmission system. FirstEnergy will continue these investments through 2021, with planned spending of $4.2 to $5.8 billion over the next five years.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Construction photos are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated 's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 1, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has completed a $4.8 million transmission system reinforcement project in Eatontown to enhance customer service reliability for more than 4,000 customers in the Monmouth County area.
The work included installing a 1.6-mile section of transmission line on 70 new poles between existing substations in Eatontown. In addition, equipment was upgraded on existing distribution lines along the route.
The project also involved adding new substation equipment, including a circuit breaker and new protective relay devices designed to remotely monitor operations. If needed, the circuit breakers or other relay devices can be reset automatically to help reduce the duration and number of customers affected if an outage occurs.
"The project strengthens the transmission system and supports the distribution and delivery of electricity to Eatontown area residents and businesses," said Mark Jones, JCP&L vice president of Operations. "This important infrastructure enhancement project was completed in a timely and efficient manner to deliver the safe and reliable service our customers expect and deserve."
The work in Eatontown is part of JCP&L's previously announced plans to spend about $359 million in 2017 on projects and other work to enhance and maintain a strong electrical system and help meet future load growth in its 13-county northern and central New Jersey service area.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
Editor's Note: Photos of some of the work on the Eatontown reinforcement project are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated 's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
READING, Pa., May 30, 2017 /PRNewswire/ -- To help enhance the reliability of its system, Pennsylvania Electric Company (Penelec), a FirstEnergy Corp. (NYSE: FE) utility, expects to replace or repair nearly 2,300 wooden utility poles this year as part of the company's annual inspection program. The poles would stretch about 28 miles if laid end to end.
Overall, Penelec will inspect nearly 42,000 of its 499,087 wooden poles in 2017 for signs of wear, insect infestation or damage from motor vehicle accidents, with a budgeted cost of approximately $3 million.
"Our poles are vital to the delivery of electricity to homes and businesses in the Penelec service area," said Scott Wyman, regional president, Penelec. "Our inspection and maintenance program for the poles is designed to help enhance service reliability for our customers; a commitment Penelec and its employees take very seriously. While durable, these poles are subject to damage from severe weather, falling trees, and traffic accidents, and periodically need to be replaced or repaired."
A standard 40-foot wooden distribution pole typically is expected to last more than 50 years. The most common utility pole is made from a Southern Yellow Pine tree and costs about $400.
Typically, specialized contractors perform the pole inspections. As part of the process, a visual inspection is completed, along with inspecting the pole to determine if the interior is sound. Some poles can be reinforced rather than replaced. One of the most common reinforcement techniques is to snug a C-shaped steel beam against the pole, jackhammer the beam into the ground, and secure it to the pole with tight, metal bands.
All wooden poles throughout the 31-county Penelec service territory are inspected on a 12-year cycle. Inspections began in January and continue through summer, with the remaining pole replacements and repairs scheduled to be completed during the fall.
Year-to-date, Penelec has inspected 36,486 wooden poles in and around the following communities:
Penelec serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of FirstEnergy's pole inspection and repair process are available for download on Flickr.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., May 25, 2017 /PRNewswire/ -- Mon Power, a FirstEnergy Corp. (NYSE: FE) subsidiary, is completing a $2.2 million enhancement project that reroutes transmission lines away from a substation scheduled to be dismantled adjacent to the decommissioned Willow Island Generating Station in Pleasants County, West Virginia.
The work involved rebuilding four transmission lines to connect with an existing substation near Belmont. Previously, the lines were routed through a substation near the Willow Island power plant, which was closed in 2012. The project included building 15 new wooden structures, a new steel structure, along with installing additional breakers and other electrical equipment at the substation near Belmont.
"This project upgrades electrical equipment on our transmission system in the northwestern edge of Mon Power's service area," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "The new configuration means we won't have to spend additional money and manpower inspecting and maintaining the older equipment located at the Willow Island site."
For the final part of the project, a contractor will dismantle the de-energized transmission substation next to the old power plant, removing steel, breakers and other electrical equipment from the site for recycling. That work should be completed in June.
The line relocation project is part of FirstEnergy's previously announced plans to invest about $166 million this year in distribution and transmission infrastructure projects to enhance service reliability in Mon Power's service area.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of Mon Power's reconfigured lines and soon-to-be-dismantled Willow Island transmission substation are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 17, 2017 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), will energize a new $2.4 million substation near West Jefferson, Ohio, later this month to enhance customer service reliability and help meet future demand for electricity in the Madison and Franklin county areas west of Columbus.
The substation was built in less than ten months using a standard design that was more cost effective and helped to expedite construction. The project included using precast concrete foundations, a large transformer, switching gear, and circuit breakers. Animal protection devices made from polymer material also were installed on key parts of the equipment to help reduce outages caused by squirrels and other animals.
"The new substation is designed to help enhance service reliability for more than 28,000 customers in the Madison and Franklin county areas, while helping to prepare our system for future load growth," said Randall A. Frame, regional president of Ohio Edison. "This project is the sixth modular substation we have completed in the Ohio Edison area over the past several years. In addition to reducing the construction schedule, the standardized design also helps reduce maintenance costs."
The substation is connected to the existing Ohio Edison system in the region using two underground circuits that were built as part of this project. Specialized communications equipment also was installed at the substation to remotely monitor operations. If needed, circuit breakers or other relay devices can be reset automatically to help reduce the duration of an outage.
The substation project is part of FirstEnergy's previously announced plan to invest more than $371 million this year in distribution and transmission infrastructure projects to enhance service reliability in Ohio Edison's service area. More than $227 million of the total is expected to be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
Ohio Edison is a subsidiary of FirstEnergy Corp. and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of the new Ohio Edison substation near West Jefferson, Ohio, are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 16, 2017 /PRNewswire/ -- During his address following today's Annual Meeting of Shareholders, President and Chief Executive Officer Charles E. Jones said FirstEnergy Corp. (NYSE: FE) is making significant progress toward its goal of transitioning into a more fully regulated company that is better positioned to meet the energy needs of its customers, support its communities, and deliver greater value to shareholders.
"I've been in this business for nearly 40 years, and the most important thing I've learned over the past four decades is that if you take care of the customer, everything else will take care of itself. In other words, strong customer-focused businesses tend to be the most successful businesses," he said.
Jones said the company's ongoing investments in the electric system support that philosophy. He pointed to new rates now in place in eight of the company's ten electric utilities, which support continued investments in service reliability and recovery of the company's costs, as well as FirstEnergy's ongoing investment in its transmission network.
"We recently completed phase one of our Energizing the Future transmission investment program – and will spend an additional $4.2 to $5.8 billion through 2021 on projects that will help ensure our customers continue to benefit from a highly reliable, more resilient and more secure grid," he said.
Jones said FirstEnergy's focus on customers is also reflected in its new advertising campaign. Called "You First," the campaign promotes the company's range of smart products and services that place the customer first – from energy efficiency programs that can save customers energy and money, to warranty programs that protect the home's major appliances.
While FirstEnergy continues to focus on its transition to a more fully regulated business, Jones said the company strongly supports national and state-level efforts to preserve essential energy resources.
"We're encouraged by the recently announced U.S. Department of Energy study to examine the full value that baseload generation plants fueled by coal and nuclear provide to our nation's grid, economy and energy security," he said. "Among other issues, the study will focus on the reasons why these plants are prematurely closing, the risk to national and economic security if these closures continue, and what can be done to prevent further loss."
At the same time, Jones said the company also supports Ohio's Zero-Emissions Nuclear Resource, or ZEN, legislation, which would compensate nuclear plants on a per-megawatt basis for the unique benefits they bring to Ohio's environment, fuel diversity, energy security and resiliency.
"Our Davis-Besse, Perry and Beaver Valley nuclear plants have the ability to operate 24/7 – generating enough electricity to power more than 4 million homes, around the clock. In fact, nuclear facilities produce more than 90 percent of the carbon-free power in Ohio and Pennsylvania," he said.
These nuclear plants directly employ approximately 2,300 people, support thousands of additional jobs, and contribute $29 million each year in state and local tax revenues, Jones said. Yet he noted that nuclear facilities across the nation are closing prematurely, including four nuclear facilities in Wisconsin, Vermont and Nebraska that have already shut down, and at least seven others across the region that are in danger of closing.
"We simply cannot allow this to happen in Ohio and Pennsylvania – so if you share our concerns and live in either state, I encourage you to reach out to your local senator or representative," Jones said.
In closing, Jones said he is proud of FirstEnergy employees, and their role in providing customers with the safe, reliable, clean and affordable service they expect and deserve.
"I'm confident that the dedicated efforts of our employees will make the difference as we complete our transition to a more fully regulated company – one that is better positioned to meet the energy needs of our customers, provide strong support to our communities and deliver greater value to our shareholders in the years ahead," he said.
A transcript of Jones' prepared remarks can be found here.
Preliminary Voting Results
FirstEnergy also announced preliminary voting results from its 2017 Annual Meeting. Shareholders reelected each of the 13 nominees to the company's Board of Directors and ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm. On an advisory basis, shareholders also approved named executive officer compensation and voted to hold such advisory votes every year.
Based on preliminary results, a management proposal to amend the company's governing documents to increase the number of shares of authorized common stock received the requisite vote, while management proposals to amend the company's governing documents to replace existing supermajority voting requirements with a majority voting power threshold, implement majority voting for uncontested director elections and implement proxy access, failed to receive the requisite vote.
Non-binding shareholder proposals related to lobbying, climate change and simple majority voting received the support of less than 50 percent of votes cast, based on preliminary results.
All preliminary voting results are subject to final certification.
The following directors were elected to one-year terms:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated 's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., May 12, 2017 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has hired 18 recent graduates of the company's utility worker training program as part of its ongoing efforts to enhance service reliability for customers in Maryland and the Eastern Panhandle of West Virginia.
The new employees include 11 line workers that are members of the first graduating class of the company's Power Systems Institute (PSI) program established with Blue Ridge Community & Technical College in Martinsburg, W.Va. in 2015. Two additional new line workers graduated from a partnering college outside the state. The five new substation electricians graduated from an existing PSI program at Pierpont Community and Technical College in Fairmont, W.Va.
"The PSI program is an effective pipeline for adding well-trained, highly skilled employees to our workforce," said James A. Sears, Jr., vice president of Potomac Edison. "By teaming with our veteran linemen and substation personnel, these new employees will help ensure reliable service for our customers, now and in the future."
The new lines employees, hometowns and work locations are: Thomas Buch, Pittstown, N.J., Mount Airy, Md.; Garrett Clise, Frostburg, Md., Cumberland, Md.; Todd Custer, Oakland, Md., Oakland; Craig Elwood, Jr., Clear Spring, Md., Williamsport, Md.; James Fania, Annandale, N.J., Mount Airy, Md.; Darren Folk, Hedgesville, W.Va., Martinsburg, W.Va.; Dalton Funk, Boonsboro, Md., Frederick, Md.; Craig Funk, Grantsville, Md., Cumberland, Md.; Tyler Johnson, Frederick, Md., Frederick; Colton Peck, Swanton, Md., Oakland, Md.; Tylar Penwell, Martinsburg, W.Va., Williamsport, Md.; Leif Sandy, Martinsburg, W.Va., Mount Airy, Md.; and Hunter Weaver, Hedgesville, W.Va., Martinsburg, W.Va.
The new substation employees, hometowns and work locations are: Jordan Bobbins, Shinnston, W.Va., system crew; Joseph Klink, Hyndman, Pa., Williamsport, Md.; Bradley Reichard, Tariff, W.Va., system crew; Austin Statler, Core, W.Va., Frederick, Md.; and Ben Weimer, Lonaconing, Md., system crew.
PSI is an award-winning, two-year educational program originally developed by FirstEnergy in 2000 to help prepare the company's next generation of utility line and substation workers.
The PSI curriculum for lines employees requires two-and-a-half days each week spent at Blue Ridge completing academic course work, with the remainder of the week spent at a Potomac Edison training facility in Williamsport, Md. The PSI curriculum for substation employees requires a half week spent at Pierpont completing academic course work, with the rest of the week spent at a FirstEnergy facility in White Hall, W.Va. All students focus on safe work practices and procedures in the electrical environment. The graduates earned an associate of applied science degree in Electric Utility Technology.
Since the program's inception, FirstEnergy has hired 1,102 line and 360 substation personnel who completed PSI programs in Maryland, West Virginia, Ohio, Pennsylvania and New Jersey.
For information about how to enroll in the PSI program, call 1-800-829-6801, or go to www.firstenergycorp.com/psi.
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of the recent Potomac Edison Power Systems Institute graduates are available upon request.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., May 10, 2017 /PRNewswire/ -- As part of an environmental program to protect at-risk ospreys, Jersey Central Power & Light (JCP&L) line workers relocated seven existing nests to new, nearby platforms that were installed in Monmouth and Ocean counties.
To date, a dozen ospreys have returned to relocated nests in Bayville, Monmouth Beach, Oceanport, Ocean Township and Spring Lake Heights.
By using pre-made nesting platforms, combined with JCP&L's expertise in setting new poles, company personnel were able to do most of the work relocating the osprey nests. JCP&L line workers also created specialized parts that were added to electrical equipment to help discourage ospreys from making new nests in potentially hazardous locations or perching on energized lines.
The platforms and parts were built to meet New Jersey Department of Environmental Protection specifications.
The work was done as part of a comprehensive program that involved JCP&L surveying all locations where ospreys had started nesting, or gave indications of future nesting. The goal of the program was to move the nests before the birds were injured or caused an interruption of service to customers.
JCP&L plans to continue similar surveying work throughout the year to identify additional osprey nests that could be at risk.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos of ospreys returning to relocated nests are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 27, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported first quarter 2017 GAAP earnings of $205 million, or $0.46 per basic and diluted share of common stock, on revenue of $3.6 billion. GAAP results include a charge associated with coal transportation contract disputes. Operating (non-GAAP) earnings* in the first quarter of 2017 were $0.78 per basic share of common stock. Operating (non-GAAP) earnings exclude the impact of the special items listed below.
In the first quarter of 2016, the company reported GAAP earnings of $328 million, or $0.78 per basic share of common stock ($0.77 diluted), on revenue of $3.9 billion. First quarter 2016 operating (non-GAAP) earnings were $0.80 per basic share of common stock.
"Our financial results for the first quarter exceeded our operating earnings guidance, despite mild winter temperatures," said Charles E. Jones, FirstEnergy president and chief executive officer. "All three of our businesses performed well, and we are pleased with this strong start to the year."
Jones also announced that the company expects 2017 GAAP earnings of $2.17 to $2.47 per share, and is affirming its 2017 operating (non-GAAP) earnings guidance range of $2.70 to $3.00 per share. In addition, the company provided a second quarter 2017 GAAP earnings estimate of $0.54 to $0.64 per share, and operating (non-GAAP) guidance of $0.55 to $0.65 per share.
First quarter 2017 operating (non-GAAP) earnings were impacted by new distribution rates, lower depreciation expense and increased transmission revenues, as well as lower capacity revenue in the competitive business.
In FirstEnergy's Regulated Distribution business, first quarter 2017 earnings increased as a result of approved rates in Ohio, New Jersey and Pennsylvania, which went into effect in January 2017.
As a result of mild winter temperatures, total distribution deliveries decreased 1 percent compared to the first quarter of 2016. Heating degree days were 8 percent below the same period in 2016 and 16 percent below normal, resulting in a residential sales decrease of 3 percent and a 1 percent decrease in commercial sales. On a weather-adjusted basis, sales increased slightly in both sectors. Industrial deliveries also increased slightly in the first quarter due to higher usage from the shale, steel and coal mining sectors.
In the Regulated Transmission business, first quarter 2017 earnings increased primarily due to a higher rate base at ATSI and TrAIL.
In the Competitive Energy Services Segment, commodity margin decreased in line with expectations due to lower contract sales volume and lower capacity revenues, partially offset by lower capacity expense and increased wholesale sales. CES operating (non-GAAP) earnings also benefited from lower depreciation expense and lower operating expenses.
First quarter GAAP results include asset impairment and plant exit costs of $0.23 per share, primarily reflecting a pre-tax charge of $164 million related to disputes regarding long-term coal transportation contracts.
Consolidated GAAP Earnings Per Share to |
|||||||||||
First Quarter |
2017 Estimate |
||||||||||
2017 |
2016 |
Second |
Full Year |
||||||||
Basic Earnings Per Share (GAAP) |
$0.46 |
$0.78 |
$0.54 - $0.64 |
$2.17 - $2.47 |
|||||||
Excluding Special Items*: |
|||||||||||
Mark-to-market adjustments |
0.07 |
(0.09) |
— |
0.07 |
|||||||
Regulatory charges |
0.02 |
0.09 |
0.01 |
0.04 |
|||||||
Merger accounting – commodity contracts |
— |
0.01 |
— |
— |
|||||||
Asset impairment/plant exit costs |
0.23 |
— |
— |
0.23 |
|||||||
Debt redemption costs |
— |
— |
— |
0.19 |
|||||||
Trust securities impairment |
— |
0.01 |
— |
— |
|||||||
Total Special Items* |
0.32 |
0.02 |
0.01 |
0.53 |
|||||||
Basic Earnings Per Share |
$0.78 |
$0.80 |
$0.55 - $0.65 |
$2.70 - $3.00 |
|||||||
* Per share amounts for the special items and earnings drivers above are based on the after-tax effect of each item divided by the weighted average basic shares outstanding and assumes up to $600 million of additional equity in 2017, of which ~$100 million relates to employee benefit and other plans. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pretax amount. The income tax rates range from 35% to 42%. |
Non-GAAP financial measures
*Operating (non-GAAP) earnings exclude "special items" as described herein, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items are not necessarily non-recurring. Management uses operating (non-GAAP) earnings and operating (non-GAAP) earnings by segment to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Management believes that the non-GAAP financial measure of operating (non-GAAP) earnings provides a consistent and comparable measure of performance of its businesses on an ongoing basis. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as alternatives to, the most directly comparable GAAP financial measures. Also, the non-GAAP financial measures may not be comparable to similarly titled measures used by other entities.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the first quarter, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on First Quarter 2017 Consolidated Report to the Financial Community.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results and discuss earnings guidance, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the First Quarter 2017 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and the effectiveness of our strategy to transition to a fully regulated business profile; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned transition to forward-looking formula rates; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; success of legislative and regulatory solutions for generation assets that recognize their environmental or energy security benefits; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy Corp.; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as pending and potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated 's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, including the new federal administration's required review and potential revision of environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy Corp. and/or its subsidiaries, specifically FES and its subsidiaries; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. These forward-looking statements are also qualified by, and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. We expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 24, 2017 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Beaver Valley Power Station Unit 2 in Shippingport, Pa., shut down at 12:01 a.m. on Saturday, April 22, for scheduled refueling and maintenance.
While the unit is offline, one-third of the 157 fuel assemblies will be replaced and numerous safety inspections will be conducted, including inspections of the unit's reactor vessel head, turbine and electrical generator. In addition, preventive maintenance to ensure continued safe and reliable operations will be performed on major components including the plant's three steam generators, which convert super-heated water from the reactor to steam which turns the plant's turbine to create electricity, as well as various pumps, motors, valves and the cooling tower.
More than 1,000 temporary contractor workers and FENOC and FirstEnergy employees will supplement the Beaver Valley workforce during the outage.
The 933-megawatt Beaver Valley Unit 2 has operated safely and reliably, generating more than 11.5 million megawatt hours of electricity since the completion of its last refueling in October 2015.
FirstEnergy Corp. is a diversified energy company headquartered in Akron, Ohio. Its FENOC subsidiary also operates the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter: @Perry_Plant, @BVPowerStation, and @DavisBesse.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 20, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the first quarter of 2017 after markets close on Thursday, April 27. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Friday, April 28. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
The company plans to post its first quarter Consolidated Report to the Financial Community to the investor section of the website after markets close on April 27.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., April 18, 2017 /PRNewswire/ -- Potomac Edison now offers its residential customers in Maryland professional electrical services performed by local, insured contractors for home electrical projects.
The Electrical Services Program includes a wide range of services, such as repairs and upgrades; home safety inspections; wiring work, plug and switch installation; interior and exterior lighting; circuit breakers, fuses and meters; and whole house surge protection installation. Electrical work is performed by licensed contractors selected by Potomac Edison for work quality, on-time performance, and customer service standards.
"Knowing which contractor to choose can sometimes be difficult, so we've designed our Electrical Services Program to provide customers with easy access to professional, high-quality work at an affordable price," said Brett Reynolds, vice president, Marketing and Product Development for FirstEnergy. "It's just one of a variety of products and services we're offering to help customers save money, increase efficiency, and enhance the value, comfort and safety of their home."
Customers can call 1-800-505-SAVE (7283) for a free estimate. Potomac Edison also offers eligible customers a convenient payment plan with no money down and low monthly payments added to their electric bill. For more information about this and other products and services offered by Potomac Edison, visit www.firstenergycorp.com/products.
Potomac Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 17, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has introduced the new "You First" campaign to build on its brand as a forward-thinking and customer-focused company that provides convenient solutions for saving energy. As part of this multimedia initiative, the company has launched a new microsite – www.youfirstenergy.com – to help customers manage their energy use with specialized tools, products and services.
"Today's consumers are expecting more from the companies they work with, and that includes their energy provider," said Gretchan Sekulich, vice president, Communications and Branding. "At FirstEnergy, we're prioritizing the things that matter most to our customers by helping them save money, increase energy efficiency and improve the value of their homes."
Featuring people putting others first, "You First" advertisements highlight the ways FirstEnergy is delivering added value and convenience to customers. Digital advertisements have already begun, with radio, television and billboard advertising to follow throughout FirstEnergy's service territories in Ohio, Pennsylvania, West Virginia, Maryland and New Jersey. The campaign will run through September 2017.
Advertisements also encourage customers to visit www.youfirstenergy.com for information about smart technologies, energy-efficiency programs and bill-payment conveniences such as eBill and text alerts. The site also links customers to information about products and services available from their local utility, such as home repair services with convenient payment plans.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's note: Campaign images are available for download on Flickr.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, April 14, 2017 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) will continue its tree trimming program in communities across Toledo Edison's northwestern Ohio service area throughout 2017.
More than $6.4 million will be spent this year to trim trees along 1,470 miles of lines across the Toledo Edison service area. The work helps to maintain proper clearances around electrical equipment and protect against tree-related outages.
Tree trimming will be conducted in the communities of: Archbold, Defiance, Delta, Edgerton, Genoa, Holgate, Liberty Center, Maumee, Perrysburg, Stryker, Toledo, Wauseon, Waterville, West Unity, Whitehouse and Woodville.
"Trees are a leading cause of service disruptions, so our annual tree trimming efforts are key to enhancing reliable service for our customers," said Rich Sweeney, regional president of Toledo Edison. "This work pays dividends year-round in fewer service disruptions, particularly during severe storms that can do tremendous damage to trees, which then have the potential to damage our equipment."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company; Nelson Tree; and Pennline Service.
As part of its notification process, Toledo Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The tree trimming is done on a four-year cycle. Vegetation is inspected and trees are pruned in a manner that helps preserve the health of the tree while also maintaining safety near electric facilities. Trees that are considered to present a danger or are diseased may be removed.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 14, 2017 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) is conducting tree trimming work in communities across The Illuminating Company's northeast Ohio service area to help protect against tree-related outages.
Nearly $16 million will be spent this year on vegetation management work along approximately 2,400 miles of distribution and transmission lines in The Illuminating Company service area. The work helps to maintain proper clearances around electrical equipment and protect against tree-related outages.
Tree trimming to maintain clearances around electrical equipment will take place in the following communities: Aquilla Village, Bentleyville, Burton Village, Ashtabula Township, Auburn Township, Bay Village, Chagrin Falls, Chester Township, Cleveland, Conneaut, East Cleveland, Fairview Park, Lakewood, Mentor, Munson Township, North Olmsted, North Royalton, Newbury Township, Olmsted Township Parma, Parma Heights, Pierpont, Rome Township, Shaker Heights, Solon, Westlake, and Windsor.
"Tree trimming is a key component in our efforts to enhance customer service reliability," said John Skory, regional president, The Illuminating Company. "In continuing this successful program, our goal is to reduce service interruptions by protecting our wires and other infrastructure from tree-related damage."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company; Davey Tree Expert Company; Lewis Tree Service, Inc.; and Townsend Tree Service.
As part of its notification process, The Illuminating Company works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The tree trimming is done on a four-year cycle. Vegetation is inspected and trees are pruned in a manner that helps preserve the health of the tree while also maintaining safety near electric facilities. Trees that are considered to present a danger or are diseased may be removed.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 14, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is conducting tree trimming and other vegetation management work in communities across Ohio Edison's 34-county service area in Ohio to maintain proper clearances around electrical equipment and help protect against tree-related outages.
More than $29 million will be spent this year to trim trees along nearly 6,000 miles of distribution and transmission lines in the Ohio Edison service area.
"Trees are a leading cause of service disruptions, so our annual tree trimming efforts are key to enhancing reliable service for our customers," said Randall A. Frame, regional president, Ohio Edison. "This work pays dividends year-round in fewer service disruptions, particularly during severe storms that can do tremendous damage to trees, which then have the potential to damage our equipment."
Tree trimming will be conducted in the following counties and communities throughout the year:
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company; Davey Tree Expert Company; Nelson Tree Service Inc.; PennLine Service, Townsend Tree Service; and Wright Tree Service.
As part of its notification process, Ohio Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The tree trimming is done on a four-year cycle. Vegetation is inspected and trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased may be removed.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., April 14, 2017 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues its enhanced tree trimming program, moving into the third year of a multi-year plan designed to help reduce the frequency and duration of power outages associated with storms.
Since the beginning of the year, tree contractors have trimmed more than 1,100 miles of distribution and transmission lines in the Mon Power area as part of the company's approximately $72 million vegetation management program for 2017, with an additional 3,400 miles expected to be completed by year end. The work is done to help maintain proper clearances around electrical equipment and help protect against tree-related outages.
Launched in mid-2014, the enhanced tree trimming program focuses on trimming trees near distribution lines in rural areas and along transmission lines to enhance service reliability. The enhanced program involves trimming trees ground to sky, which helps reduce the risk of overhanging limbs getting into electrical equipment and causing outages.
"Three years into our enhanced vegetation management program, our customers are experiencing fewer tree-related outages as we have trimmed more than one million trees along 14,000 miles of electric lines to the new ground-to-sky standards," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "In the areas where the new trimming specifications have been used, there have been 33 percent less tree-related outage minutes compared to the 2013 baseline before the program started. We expect the favorable trend to continue as more miles are trimmed to more rigorous specifications."
The initial cycle length for tree work under the enhanced program is five years, ending in 2019. Cycles in future years will be determined after the results of the initial work are evaluated.
Mon Power will conduct tree trimming in or near the following counties and communities before the end of the year:
To perform the work, the number of tree-trimming contractors in the Mon Power area was nearly doubled, from 640 to almost 1,200. Forestry crews use hand-operated tools, saws, mowers, aerial helicopter saws and EPA-approved herbicide applications to trim trees and maintain vegetation along FirstEnergy's distribution and transmission networks. Clearing incompatible vegetation under power lines results in easier access for company personnel to inspect and maintain lines and make repairs sooner if an outage occurs.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
Editor's Note: Aerial photos comparing a power line right-of-way before and after photos trimming are available for download on Flickr.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., April 14, 2017 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its service area in western Maryland and the Eastern Panhandle of West Virginia as part of its ongoing efforts to help enhance system reliability.
Since the beginning of the year, tree contractors have trimmed more than 600 miles of distribution and transmission lines in the Potomac Edison area as part of the company's approximately $39 million vegetation management program for 2017, with an additional 2,250 miles expected to be completed by year end. The work is done to help maintain proper clearances around electrical equipment and help protect against tree-related outages.
The 2017 budgeted amount includes about $750,000 to continue a special program in the Maryland service area to remove dead and dying ash trees damaged by the Emerald Ash Borer, targeting approximately 5,000 trees. Dead and damaged ash trees near power lines pose a growing risk to the company's electrical infrastructure.
"The tree trimming we have done over the last five years has helped cut by nearly half the number of outages from trees and limbs falling into our lines and interrupting electrical service to our Potomac Edison customers," said James A. Sears, Jr., president of FirstEnergy's Maryland Operations and vice president of Potomac Edison. "Between 2011 and 2016, our trimming program helped reduce both the number of tree-related outages by about 46 percent and the number of Potomac Edison customers impacted by a tree-related service interruption by 39 percent. We expect the new program targeting damaged ash trees for removal will further enhance service reliability for our customers."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company, Lewis Tree, N.G. Gilbert, Nelson Tree Service, Trees Inc. and Wright Tree Service.
As part of its notification process, Potomac Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
During the upcoming months, Potomac Edison will be conducting tree trimming work in the following counties and communities:
Tree trimming is done on a five-year cycle in Maryland and West Virginia. Vegetation is inspected and trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. In some cases, trees that are considered to present a danger or are diseased may be removed.
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., April 13, 2017 /PRNewswire/ -- West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), continues to conduct tree trimming work in communities across its 24-county Pennsylvania service area as part of its ongoing efforts to help enhance system reliability.
Since the beginning of the year, tree contractors have trimmed more than 1,000 circuit miles of electric lines in the West Penn Power service area as part of the nearly $40 million vegetation management program for 2017, with an additional 3,900 miles expected to be completed by year end. The work is done to help maintain proper clearances around electrical equipment and help protect against tree-related outages.
"The tree trimming we have done over the past several years is making a difference keeping the lights on for our customers," said David W. McDonald, president of West Penn Power. "In particular, we have stepped up our efforts to proactively remove tens of thousands of deteriorated ash trees bordering our electric distribution lines that have been killed or weakened by the Emerald Ash Borer. These trees pose a growing risk to our infrastructure, and we want to remove as many as possible before the onset of the summer thunderstorm season."
For 2017, West Penn Power's tree program includes about $7 million to remove more than 56,000 ash trees along distribution lines in western Pennsylvania. As of early April, more than 15,000 ash trees had been removed.
During the upcoming months, West Penn Power will be conducting tree trimming work in the following counties and communities:
Tree trimming is done on a five-year cycle. The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
As part of its notification process, West Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company, Jaflo Inc., Lewis Tree Service Inc., Penn Line Service Inc., and Davey Tree Expert Company.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., April 13, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) plans to spend nearly $34 million in 2017 to trim trees along 3,600 miles of power lines to maintain proper clearances around electrical equipment and help prevent tree-related outages. During April and May, the work is being performed in nearly 80 municipalities across JCP&L's 13-county northern and central New Jersey service areas.
"Proper tree trimming helps reduce the frequency and duration of power outages," said Mark Jones, vice president, Operations, JCP&L. "Our foresters and certified tree experts work year-round to properly maintain trees and vegetation. This work pays dividends in fewer service disruptions, particularly during severe storms that can do tremendous damage to trees, which then have the potential to damage our equipment."
JCP&L's tree trimming program, conducted by certified forestry contractors under the company's direction, includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased may also be removed.
As part of the notification process, JCP&L works with municipalities to inform them of vegetation management schedules. In addition, customers living in areas along company rights-of-way are notified prior to work being performed. To further decrease tree-related outages, JCP&L's foresters also are working to educate residents who live near company equipment about the importance of properly maintaining the trees on their own property.
During April and May, forestry contractors are doing tree work in municipalities in the following counties:
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
NEW CASTLE, Pa., April 13, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work on distribution and transmission lines in communities across its Pennsylvania Power (Penn Power) service area as part of its ongoing efforts to enhance customer service reliability.
More than $6.5 million will be spent this year on vegetation management along nearly 1,250 miles of power lines in western Pennsylvania. The work helps to maintain proper clearances around electrical equipment and protect against tree-related outages.
"Tree branches interfering with power lines is the leading cause of service disruptions in the Penn Power territory," said Randall A. Frame, president of Ohio Edison and Penn Power. "This work pays dividends year-round in fewer service disruptions, particularly during severe storms that can do tremendous damage to trees, which then have the potential to damage our equipment."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company, Davey Tree Expert Company, Nelson Tree Service Inc., Wright Tree Service and Townshend Tree Service.
As part of its notification process, Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to work taking place.
During the next several months, Penn Power will be conducting tree trimming work in the following counties and communities:
The program includes inspecting trees near the lines to ensure they're pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Penn Power and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
READING, Pa., April 13, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across the Pennsylvania Electric Company (Penelec) service area in Pennsylvania as part of its ongoing efforts to help maintain proper clearances around electrical equipment and help protect against tree-related outages.
Since the beginning of the year, contractors have trimmed nearly 550 miles of distribution and transmission lines in the Penelec area as part of the company's nearly $17 million vegetation management program for 2017, with an additional 3,650 miles expected to be completed by year end.
The tree trimming work in 2017 includes about $4.4 million to continue a special five-year program that was implemented in 2015 to remove dead and dying ash trees damaged by the Emerald Ash Borer before they can cause damage to Penelec's electrical system. The company expects to proactively remove approximately 41,500 affected ash trees by the end of the year. Over five years, the ash tree removal program will cover about 18,000 miles of power line rights-of-way in the Penelec service area, with the expected removal of more than 200,000 affected ash trees.
"Penelec is committed to enhancing customer service reliability and our vegetation management program is one of the most important things we do every year to help maintain our electric system," said Scott Wyman, regional president, Penelec. "This work pays dividends year-round in fewer service disruptions, particularly during severe storms that cause tremendous damage to trees, which then can damage our equipment."
The vegetation management work is conducted by qualified contractors, including Asplundh Tree Expert Company, Davey Tree Expert Company, PennLine Tree Service, Sidelines, Townsend Tree Service, and Treesmiths.
As part of its notification process, Penelec works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
During the next several months, Penelec will be conducting tree trimming along transmission and distribution circuits in the following locations: Birmingham, Blairsville, Bradford, Brockway, Brookville, Central City, Dubois, Edinboro, Emlenton, Erie, Franklin Forks, Harborcreek, Hollidaysburg, Jennerstown, Johnstown, Laporte, Mansfield, Martinsburg, Monroeton, Northeast, Philipsburg, Portage, Saxton, Seward, Shippensburg, Stoystown, Titusville, Towanda, Union City, Warren and Westmont.
The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
READING, Pa., April 13, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across the Metropolitan Edison Company (Met-Ed) service area in Pennsylvania as part of its ongoing efforts to help enhance service reliability.
Since the beginning of the year, contractors have trimmed trees along more than 481 miles of distribution and transmission lines in the Met-Ed area as part of an approximately $17 million vegetation management program for 2017, with an additional 2,700 miles expected to be completed by year end.
"Tree trimming is one of the most important things we do every year to help maintain our electric system," said Ed Shuttleworth, regional president, Met-Ed. "The vegetation management work we have done over the past several years continues to make a positive difference in reducing the number of outages our customers might experience due to tree-related damage."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Aerial Solutions, Asplundh Tree Expert Company, Davey Tree Expert Company, Lewis Tree Service, Nelson Tree Service Inc., Rotor Blade, Treesmiths and York Tree Service Inc.
During the upcoming months, Met-Ed will be conducting tree trimming work in the following locations: Easton, Gettysburg, Hamburg, Hanover, Lebanon, Reading, Stroudsburg, York and surrounding areas, and Upper Bucks County.
The work includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 5, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that its Allegheny Energy Supply Company, LLC subsidiary has entered into an agreement for sale of a portion of the real property and certain assets at the former Hatfield's Ferry Power Station in Masontown, Pa. to APV Renaissance Partners Opco, LLC, of Bernardsville, New Jersey.
APV has commenced engineering and permitting activities related to the proposed construction of a new, 1,000-megawatt combined cycle natural gas facility on 33 acres at the former plant site. If the project proceeds, APV would acquire the project site, including the plant's two cooling towers, for approximately $40 million. Allegheny Energy Supply will continue to own the remaining Hatfield plant facilities, including approximately 200 acres of land and the other former plant structures. The sale is expected to close in third quarter 2018, subject to various closing conditions.
"FirstEnergy supports new development opportunities at our former plant sites," said James H. Lash, executive vice president and president of FirstEnergy Generation. "The project at Hatfield has the potential to bring jobs and economic growth to Greene County by capitalizing on a strategic location and existing infrastructure."
"APV is excited to undertake a project to support the reliability of the region's electricity supply, redevelop an existing industrial site and contribute to economic growth in southwestern Pennsylvania," said John Seker, president of APV. "The existing infrastructure available at Hatfield's Ferry and abundant fuel supply in the region make this an ideal location for the construction of a natural gas power plant."
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of the Hatfield's Ferry Power Station is available on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 3, 2017 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Perry Nuclear Power Plant in Perry, Ohio, returned to service at 11:42 a.m. today following a March 5, 2017, shutdown for refueling and maintenance. The 29-day outage marks the shortest refueling outage in Perry's 30 years of operation, with the previous record being 34 days in 2001.
The 1,268-megawatt plant is currently operating at approximately 20 percent power. Power levels will vary over the next several days as the plant ramps up to full power.
While the unit was shut down, 280 of the 748 fuel assemblies were exchanged. In addition, numerous inspections and preventive maintenance and improvement projects were completed, including examinations of the unit's reactor vessel, turbine, electrical generator and cooling tower and installation of a new transformer that provides power from the off-site transmission network.
"The efficiency of outage activities reflects the dedication of Perry employees to completing the work safely and cost-efficiently," said FENOC Chief Operating Officer Paul Harden. "The plant is now well-positioned to generate safe, reliable, secure and clean electricity until the next refueling outage in 24 months."
Prior to the outage, Perry operated safely and reliably, generating more than 19.7 million megawatt hours of electricity since the completion of its last refueling in April 2015.
FirstEnergy Corp. is a diversified energy company headquartered in Akron, Ohio. Its FENOC subsidiary also operates the Beaver Valley Power Station in Shippingport, Pa. and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter: @Perry_Plant, @BVPowerStation, and @DavisBesse.
Editor's note: Photos of Perry employees performing outage work are available on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 21, 2017 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable June 1, 2017, to shareholders of record at the close of business on May 5, 2017.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., March 20, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $166 million in 2017 on distribution and transmission infrastructure projects to help enhance service reliability for its customers in Mon Power's 34-county West Virginia service area.
The projects include transmission enhancements to reinforce the system, along with constructing new distribution lines and inspecting and replacing utility poles and other equipment.
"Each year we carefully review and plan transmission and distribution projects that will enhance service to our customers, while also preparing our system for future economic growth," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "By doing proactive upgrades, we enhance the reliability and resiliency of our system and help reduce the duration and frequency of service interruptions our customers might experience."
Projects planned in the Mon Power footprint in 2017 include:
About $13 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
In 2016, FirstEnergy spent about $250 million in the Mon Power area on hundreds of large and small transmission and distribution projects, including building new substations and transmission lines, adding equipment to existing locations, installing voltage-regulating equipment and automated controls, and replacing poles.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of service reliability work being done in the Mon Power area are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 13, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) personnel are prepared to respond when the heavy snow and potentially high winds associated with a forecasted large winter storm impact the eastern part of the country beginning Monday evening through Wednesday.
Company meteorologists are tracking the storm system that could affect areas served by all 10 FirstEnergy utilities, with a greater impact anticipated in Pennsylvania, Maryland, New Jersey, and West Virginia. Initial estimates show there could be up to two feet of snow in some of the higher elevations, along with winds gusting in the 40-55 mph range. Rain could mix with snow in some areas, causing wet, heavy snow to weigh down trees and power lines, which could result in service interruptions.
FirstEnergy utilities include: Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; Potomac Edison in Maryland and West Virginia; Jersey Central Power & Light (JCP&L) in New Jersey; and Ohio Edison, The Illuminating Company and Toledo Edison in Ohio.
The companies are reviewing storm response plans, which include staffing additional dispatchers and analysts at regional dispatch offices, and are making arrangements to bring in additional line, substation and forestry personnel, as needed, based on the severity of the weather. In addition, FirstEnergy has been in contact with contractors and electric industry mutual assistance organizations about the possibility of assisting with storm restoration efforts.
As part of the storm preparation process, equipment and vehicles are being checked to make sure they are ready to operate in heavy snow conditions.
"A unique challenge with a winter storm is being able to gain access to the outage locations, especially when large snow accumulations hamper travel," said Mark Julian, vice president, Utility Operations, FirstEnergy. "As part of our assessment process, once we know the extent of the storm damage, we can deploy additional crews and resources from our less affected utilities to areas that were hit the hardest."
During severe weather, customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers are encouraged to prepare for the possibility of outages caused by significant snowfall and high winds:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.
Connect with the companies online at www.firstenergycorp.com, on Twitter at @OhioEdison, @IlluminatingCo, @ToledoEdison, @Met_Ed, @Penelec, @Penn_Power, @W_Penn_Power, @MonPowerWV, or @PotomacEdison, or on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo, www.Facebook.com/MetEdElectric, www.Facebook.com/PenelecElectric, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.facebook.com/MonPowerWV, www.facebook.com/PotomacEdison.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 10, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) energized a 69-kilovolt transmission line project this week that will modernize the local power grid to meet the future needs of Ohio Edison customers in Ashland County.
The $7 million rebuild project involved removing an older, existing transmission line and replacing it with a new set of wood poles capable of carrying new, higher capacity wires. Crews installed nearly seven miles of wire on 127 new wooden structures within the existing right-of-way, reducing impact on affected property owners in Perrysville Village and Green Township, Ohio.
In addition, remote control switching devices were added to help prevent some outages from occurring. Or, if an outage does occur, this advanced equipment can automatically pinpoint the location of a service disruption and limit the outage to only those customers where the damage occurred. This helps to reduce the number of overall customers that are affected and shorten the duration.
"Upgrading this transmission line will help keep power flowing around the clock to our customers," said Randy Frame, regional president of Ohio Edison. "The new power line and remotely controlled equipment will strengthen the local power grid in Ashland County and the surrounding area, and help reduce the frequency and duration of power outages."
Since 2014, FirstEnergy and its affiliates have upgraded or replaced 69-kV transmission lines and substations, including in the Ohio Edison service area. New, smart technology has been incorporated into the grid, and dozens of substations were upgraded with new equipment and enhanced security features. These upgrades produced significantly fewer outages on the 69-kV system last year compared to the average number of outages in previous years.
The projects are part of FirstEnergy's Energizing the Future initiative, which began in 2014 and now includes $4.2 to $5.8 billion of investment in electric transmission infrastructure between 2017-2021. Key factors driving these investments include replacing existing equipment with advanced technologies designed to enhance system reliability; meeting projected load growth driven by shale gas-related activity and other development in the region; and reinforcing the system in light of power plant deactivations.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Construction photos are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., March 7, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) subsidiaries Mon Power and Potomac Edison today filed a plan seeking regulatory approval to acquire the Pleasants Power Station (Pleasants) in Willow Island, W.Va., as the least-cost source to meet a steadily increasing capacity shortfall in the companies' West Virginia service areas.
If the purchase of Pleasants is approved by the Public Service Commission of West Virginia (WV PSC) and the Federal Energy Regulatory Commission (FERC), monthly bills for typical Mon Power and Potomac Edison West Virginia residential customers using 1,000 kilowatt-hours (kWh) of electricity per month would drop about $1 per month, or $12 per year.
The proposed Pleasants purchase also will help preserve coal-related jobs and provide other economic benefits. The plant employs about 200 people, consumes more than 3.4 million tons of coal per year and pays millions of dollars in annual property taxes.
The latest energy forecasts showed a capacity shortfall is expected to exceed 1,400 megawatts (MW) by 2027 for Mon Power, which also provides capacity and electricity for Potomac Edison customers in the state's Eastern Panhandle. Capacity is the commitment of generation or other resources to be available to provide electricity, particularly when demand surges during extreme cold snaps or heat waves.
To address future capacity needs, a competitive request for proposals (RFP) process was implemented using a nationally recognized, independent consultant. After evaluating the proposals, the consultant recommended to Mon Power the purchase of Pleasants as the most economical option. At a cost of $195 million, the proposed acquisition of Pleasants from FirstEnergy affiliate Allegheny Energy Supply is significantly less expensive than any other bid.
"The purchase of the Pleasants plant is a win-win-win for our West Virginia customers by securing a local, reliable source of electricity to meet future needs, while lowering rates and continuing significant economic benefits for Pleasants County and surrounding areas," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "The Pleasants option is expected to save customers money, preserve vital jobs in the coal industry and provide millions of dollars paid in taxes to support local services and schools."
The Pleasants plant capacity is about 1,300 MW. The RFP also requested up to 100 MWs of demand-response resources, but no such proposals were received.
Mon Power supplies electricity to both its 385,500 customers and 137,000 Potomac Edison customers in the state's Eastern Panhandle.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., March 7, 2017 /PRNewswire/ -- Potomac Edison is offering customers in Maryland a smart thermostat and heating and cooling monitoring service to improve home efficiency and safeguard against potential performance issues.
For a low monthly fee of $14.99, added conveniently to the customer's monthly electric bill, the Connected Home Plan includes a professionally installed ecobee smart thermostat and remote sensor. The ecobee system is designed to measure temperature and occupancy throughout the home, allowing the thermostat to deliver the right temperature in the rooms that matter most.
The plan also includes HVAC Monitoring Service, which provides custom monthly reports on the efficiency of the home and text or email alerts if there may be opportunities to correct performance issues or avoid serious breakdowns.
"The Connected Home Plan offers customers greater control over the comfort and energy efficiency of their home – anytime, from anywhere – using their smartphone, tablet or computer," said Brett Reynolds, vice president, FE Products. "Through our HVAC Monitoring Service, unique energy efficiency monitoring software recognizes patterns of underperformance and provides the data and tools customers need to save energy, improve the performance of their equipment, and combat larger repair costs."
To sign up for the Connected Home Plan, or for more information about the benefits of owning an ecobee smart thermostat, visit www.firstenergycorp.com/homeproducts or call 1-866-747-7893.
Potomac Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., March 7, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $245 million in 2017 on distribution and transmission infrastructure projects to help enhance reliability for more than 560,000 customers in the Metropolitan Edison (Met-Ed) service territory.
Major projects scheduled in 2017 include building new substations and transmission lines, installing equipment in existing substations, adding remote control equipment on circuits, and the inspection and replacement of utility poles.
"Each year we review our system to look for projects that can bring the greatest reliability benefit to the largest number of customers," said Ed Shuttleworth, regional president of Met-Ed. "For 2017, we are starting work on several large transmission projects, in addition to the on-going enhancements we do annually on the distribution side of our electric system to help reduce the number and duration of outages our customers might experience."
FirstEnergy projects scheduled in the Met-Ed footprint in 2017 include:
About $104 million of the budgeted total will be spent on transmission-related projects owned by Mid Atlantic Interstate Transmission, LLC (MAIT), a FirstEnergy transmission company.
In 2016, FirstEnergy spent about $130 million in the Met-Ed area on large and small distribution and transmission projects, including enhancing circuits, installing voltage-regulating equipment and automated controls, and replacing poles.
Met-Ed, a subsidiary of FirstEnergy Corp., serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com and on Twitter: @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., March 7, 2017 /PRNewswire/ -- As part of its ongoing efforts to strengthen the durability and flexibility of its electric transmission and distribution systems, FirstEnergy Corp. (NYSE: FE) plans to invest about $235 million during 2017 on infrastructure upgrades to enhance service reliability in West Penn Power's 24-county service area.
Major projects scheduled include: transmission enhancements to reinforce the electric system and support economic growth, including the shale gas industry; constructing new circuits and replacing utility poles; and installing enhanced protective devices on wires and poles.
"Our goal is to pursue transmission and distribution projects that not only enhance service to our existing customers, but also prepare our system to accommodate future economic growth," said David W. McDonald, president of West Penn Power. "Proactive upgrades to our distribution system include the installation of automated and remote control devices designed to reduce the number and duration of service disruptions our customers might experience."
FirstEnergy projects planned in West Penn Power's service area in 2017 include:
About $23 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
In 2016, FirstEnergy spent about $200 million in the West Penn Power area on hundreds of large and small transmission and distribution projects, including building new substations and transmission lines, adding equipment to existing locations, installing voltage-regulating equipment and automated controls, and replacing poles.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 7, 2017 /PRNewswire/ -- As part of its ongoing efforts to strengthen the durability and flexibility of its electric system, FirstEnergy Corp. (NYSE: FE) expects to invest about $128 million on distribution and transmission projects to enhance reliability for customers in the Pennsylvania Power's (Penn Power) western Pennsylvania service area.
Major projects scheduled for 2017 include rebuilding transmission lines, adding transformers, breakers and capacitors to substations, enhancing security at substations, dividing power lines into smaller segments to reduce the number of customers affected when an outage occurs, and the inspection and replacement of utility poles.
"We are seeing continued dividends from the investments we have made to our system over the years," said Randall A. Frame, regional president of Ohio Edison, which owns Penn Power. "Our goal is to pursue transmission and distribution projects that not only enhance service to our existing customers, but also prepare our system to accommodate future economic growth,"
Projects scheduled in the Penn Power footprint in 2017 include:
About $77 million of the total spend will be for transmission projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission affiliate.
In 2016, FirstEnergy spent about $125 million in the Penn Power area on large and small transmission and distribution projects, including adding equipment to substations, rebuilding power lines, installing voltage-regulating equipment and automated controls, and replacing poles.
Penn Power, a subsidiary of FirstEnergy Corp., serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
READING, Pa., March 7, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $367 million in 2017 on distribution and transmission infrastructure projects to help enhance reliability for approximately 590,000 customers in the Pennsylvania Electric Company's (Penelec) service territory.
Major projects scheduled in 2017 throughout Penelec's 31-county area include building new substations and transmission lines, installing equipment in existing substations, adding remote control equipment on circuits, and the inspection and replacement of utility poles.
"The proactive upgrades we have done over the years to our electric system are intended to reduce the number and duration of service disruptions our customers experience," said Scott Wyman, regional president of Penelec. "For 2017, we are starting work on several large transmission projects, in addition to the ongoing work we do annually on the distribution side of our electric system to help enhance customer reliability."
Projects scheduled in the Penelec footprint in 2017 include:
More than $186 million of the budgeted total will be spent on transmission-related projects owned by Mid Atlantic Interstate Transmission, LLC. and Trans-Allegheny Interstate Line Company (TrAILCo), both FirstEnergy transmission companies.
In 2016, FirstEnergy spent about $238 million in the Penelec area on large and small transmission and distribution projects, including enhancing circuits, installing voltage-regulating equipment and automated controls, and replacing poles.
Penelec, a subsidiary of FirstEnergy Corp., serves approximately 590,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., March 6, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $135 million in 2017 on distribution and transmission infrastructure projects to help enhance service reliability for its customers in Potomac Edison's service area in western Maryland and the Eastern Panhandle of West Virginia.
Major projects scheduled for 2017 include transmission enhancements to reinforce the system and support economic growth, constructing new distribution circuits, and inspecting and replacing utility poles and underground cables.
"These infrastructure enhancements are necessary to serve the influx of new residents and businesses to our Potomac Edison service territory," said James A. Sears, Jr., vice president of Potomac Edison. "At the same time, we also are working on projects designed to help enhance the day-to-day service we provide our customers, such as replacing older underground cables and improving existing overhead facilities."
FirstEnergy projects planned in the Potomac Edison footprint in 2017 include:
About $3 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
In 2016, FirstEnergy spent about $117 million in the Potomac Edison area on hundreds of large and small transmission and distribution projects, including replacing wire on transmission lines, upgrading equipment on distribution circuits, replacing equipment in substations, and inspecting and replacing poles, as needed.
Potomac Edison, a subsidiary of FirstEnergy Corp., serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: A photo of service reliability work being done in the Potomac Edison area is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 6, 2017 /PRNewswire/ -- As part of its ongoing efforts to strengthen the durability and flexibility of its electric transmission and distribution systems, FirstEnergy Corp. (NYSE: FE) plans to invest about $172 million during 2017 on infrastructure upgrades to enhance service reliability in The Illuminating Company's five-county northeast Ohio service area.
Major projects scheduled for 2017 include building a new substation, adding equipment to existing substations, upgrading transmission line devices, and the inspection and replacement of utility poles and other equipment.
"Our goal is to pursue transmission and distribution projects that not only enhance service to our existing customers, but also prepare our system to accommodate future economic growth," said John Skory, regional president of The Illuminating Company. "Our results show that in 2016 we performed better than the reliability standards established by the Public Utilities Commission of Ohio, with an average Illuminating Company customer experiencing about one outage per year."
FirstEnergy projects scheduled in The Illuminating Company's footprint for 2017 include:
Approximately $56 million of the budgeted total is expected to be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
In 2016, FirstEnergy spent about $222 million in The Illuminating Company area on hundreds of large and small transmission and distribution projects, including building new substations and transmission lines, adding equipment to existing locations, installing voltage-regulating equipment and automated controls, and replacing poles.
The Illuminating Company serves 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Connect with The Illuminating Company at www.illuminatingcompany.com, on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of some of The Illuminating Company infrastructure projects completed last year are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 6, 2017 /PRNewswire/ -- As part of its ongoing efforts to strengthen the durability and flexibility of its electric transmission and distribution systems, Jersey Central Power & Light (JCP&L) plans to invest $359 million during 2017 on infrastructure projects and other work to enhance reliability across its 13 county northern and central New Jersey service area.
Major projects scheduled for 2017 include finishing construction of a new 16- mile, 230 kilovolt (kV) transmission line in Monmouth County, building a new 34.5 kV power line in Monmouth County and installing new communication equipment across the JCP&L service area to help enhance remote-control capability. Other scheduled work includes 94 circuit upgrades, and replacing breakers and other voltage-regulating equipment.
"Our customers have benefited from the continuous investments and enhancements made over the past decade to JCP&L's transmission and distribution systems," said Jim Fakult, president of JCP&L. "During that time nearly $3 billion has been invested to strengthen our electric system. In addition to the improved service reliability, the infrastructure work is designed to accommodate future growth in New Jersey's economy."
Projects scheduled for 2017 include:
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of some of JCP&L's infrastructure projects completed last year are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 6, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $371 million in 2017 on distribution and transmission infrastructure projects to help enhance reliability for customers in the Ohio Edison service territory.
Major projects scheduled in 2017 throughout Ohio Edison's 34-county area include building new substations and transmission lines, installing equipment in existing substations, adding remote control equipment on circuits, and the inspection and replacement of utility poles.
"The proactive upgrades we have done over the years to our electric system have helped reduce the number and duration of service disruptions our customers experienced," said Randall Frame, regional president of Ohio Edison. "Our results show that in 2016 we performed better than the reliability standards established by the Public Utilities Commission of Ohio, with an average Ohio Edison customer experiencing less than one outage per year."
FirstEnergy projects scheduled in the Ohio Edison footprint in 2017 include:
More than $227 million of the budgeted total will be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
In 2016, FirstEnergy spent about $375 million in the Ohio Edison area on hundreds of large and small transmission and distribution projects, including building new substations and transmission lines, adding equipment to existing locations, installing voltage-regulating equipment and automated controls, and replacing poles.
Ohio Edison is a subsidiary of FirstEnergy Corp. and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of some of the Ohio Edison infrastructure projects completed last year are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 6, 2017 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Perry Nuclear Power Plant in Perry, Ohio, shut down early on Sunday, March 5, for scheduled refueling, maintenance and a transformer replacement that is expected to enhance reliability.
While the unit is off line, 280 of the 748 fuel assemblies will be replaced, and numerous safety inspections will be conducted on the unit's reactor vessel, turbine and electrical generator. In addition, preventative maintenance designed to promote continued safe and reliable operations will be performed on major components, including testing approximately 95 valves, replacing several control rod blades and inspecting and cleaning cooling tower piping.
During the outage, Perry will also install a new, large transformer, which is one of two circuits that provide power from the off-site transmission network to the plant's on-site electrical systems. The new transformer is approximately 20 ft. tall and weighs 115 tons. Installation of the new equipment is expected to enhance reliability and ensure a critical power source is available for plant operation.
More than 1,400 temporary contractors and FENOC employees from the company's other nuclear plants will supplement the Perry workforce during the outage.
The 1,268-megawatt Perry unit operated safely and reliably since the completion of its last refueling on April 24, 2015, generating more than 19.7 million megawatt hours of carbon-free electricity.
FirstEnergy Corp. is a diversified energy company headquartered in Akron, Ohio. Its FENOC subsidiary also operates the Beaver Valley Power Station in Shippingport, Pa. and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter: @Perry_Plant, @BVPowerStation, and @DavisBesse.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, March 2, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) expects to invest about $113 million in 2017 on distribution and transmission infrastructure projects to help enhance reliability for more than 300,000 customers in Toledo Edison's western Ohio service territory.
Projects scheduled include work on new transmission lines, replacing and enhancing existing transmission lines, replacing equipment used to monitor and respond to grid conditions, installing remote control equipment on distribution circuits, and inspecting and replacing utility poles.
"Each year we review our system to look for projects that can bring the greatest benefit to the largest number of customers," said Rich Sweeney, president of Toledo Edison. "These proactive enhancements continue to produce positive results. For 2016, we performed better than the reliability standards established by the Public Utilities Commission of Ohio, with an average Toledo Edison customer experiencing less than one outage per year."
FirstEnergy projects scheduled in the Toledo Edison footprint in 2017 include:
More than $67 million of the budgeted total will be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
In 2016, FirstEnergy spent about $144 million in the Toledo Edison area on hundreds of large and small transmission and distribution projects, including building new transmission lines, installing voltage-regulating equipment and automated controls, enhancing downtown Toledo's underground network, and replacing poles.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos showing examples of some of the equipment that will be installed in the Toledo Edison area this year are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 28, 2017 /PRNewswire/ -- FirstEnergy (NYSE: FE) utility personnel are prepared to respond to outages caused by the high winds and thunderstorms forecast for the eastern U.S. beginning later today through Thursday.
Company meteorologists are monitoring a powerful storm system that is expected to produce severe thunderstorms and sustained high winds gusting in excess of 50 mph in FirstEnergy's Ohio utility service areas later tonight and the remaining areas in Pennsylvania, West Virginia, Maryland and New Jersey into Thursday.
FirstEnergy utilities include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; Potomac Edison in Maryland; and Jersey Central Power & Light in New Jersey.
All of FirstEnergy's 10 electric utilities are holding conference calls to review storm response plans, which could include staffing additional dispatchers and analysts at regional dispatch offices, along with making arrangements to bring in additional line, substation and forestry personnel, as required, based on the severity of the weather. In addition, FirstEnergy has been in contact with contractors and electric industry mutual assistance organizations about the possibility of assisting with storm restoration efforts.
"We are monitoring the weather conditions closely and are making plans to deploy resources to the areas that could get hit the hardest," said Mark Julian, vice president, Utility Operations, FirstEnergy. "The ultimate goal of our pre-planning efforts is to speed the restoration process and minimize any inconvenience our customers experience due to the weather."
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For updated information on the company's current outages, FirstEnergy's storm restoration process and tips for staying safe, visit the 24/7 Power Center at www.firstenergycorp.com/outages.
Customers are encouraged to prepare for the possibility of outages caused by high winds:
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy and its operating companies on Twitter: @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 24, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that two units at its Bruce Mansfield Plant in Shippingport, Pa. are expected to restart early next week following a short out-of-service period that began mid-February.
Restart activities at Units 1 and 3, each with a capacity of 830 megawatts, will begin this weekend. While the units were offline, Bruce Mansfield's 350 employees completed routine daily maintenance work that supports ongoing safe and reliable operation. Unit 2, also with an 830-megawatt capacity, will remain out of service as maintenance on plant equipment is completed.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This press release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 24, 2017 /PRNewswire/ -- The 306-foot brick and concrete stack and 170-foot boiler house at FirstEnergy's (NYSE: FE) Lake Shore plant were demolished early this morning using more than 200 pounds of explosives, taking approximately 10 seconds to fall and permanently altering the Cleveland skyline.
Charges were detonated at approximately 1:00 a.m., representing a major milestone in a multi-year process to close the 106-year old plant. To ensure public safety, FirstEnergy worked closely with the Cleveland Police Department, Cleveland Fire Department, Cleveland Department of Building and Housing and U.S. Coast Guard.
"We are proud of the Lake Shore plant's long legacy in Cleveland, where it provided dependable electricity to area homes and businesses for more than 100 years," said James H. Lash, Executive Vice President and President of FirstEnergy Generation. "Today's demolition was managed safely and efficiently, and we are now focused on removing remaining building materials and seeding the site with grass."
Today's event was the culmination of more than 18 months of demolition work at the site. To prepare for Saturday's activities, a professional explosives demolition team from Tulsa, Ok., set charges in the structures for the explosives. Some of the concrete and rebar were removed from the structures to direct the angle of the buildings' fall. Dust suppression systems consisting of large fans and water sprayers surrounded the site to help contain the concrete and dirt particles.
The Lake Shore plant was fully retired in early 2015, and demolition preparation activities began that summer. Property clean-up, removal of scrap metal and concrete debris, and planting grass on the site is expected to be complete by this fall. Following the demolition, FirstEnergy will continue to own the 57-acre site and to operate the electric transmission equipment located on the property.
About Lake Shore
Lake Shore began operation in 1911 and was built at cost of $14 million. In 1923, it became the first plant in Ohio – and only the second in the United States – to burn pulverized coal. At one time, it had a peak generating capacity of 520 MW, but most recently was operating a single 245 MW unit.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos and video of today's demolition are available for download on Flickr. Also available are historical images of the plant's early operations.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 21, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported a full-year 2016 GAAP loss of $(6.2) billion, or $(14.49) per basic and diluted share of common stock, on revenue of $14.6 billion. The loss reflects asset impairment and plant exit costs, including charges related to the company's decision to exit competitive operations by mid-2018 as further discussed below. In 2015, the company reported GAAP earnings of $578 million, or $1.37 per basic and diluted share of common stock, on revenue of $15.0 billion.
Operating (non-GAAP) earnings* for 2016 were $2.63 per basic share of common stock, which was in line with the company's guidance. In 2015, full-year operating (non-GAAP) earnings were $2.71 per basic share of common stock.
"In 2016, we achieved our financial targets, made significant progress on our regulated growth plans, and began an important strategic review that is designed to support our transition into a fully regulated company," said Charles E. Jones, FirstEnergy president and chief executive officer. "We continue to focus on this transformation, which will allow us to best serve our customers while providing predictable growth to investors."
The company also announced that it is raising its earnings guidance range for 2017. The revised GAAP earnings estimate is $2.47 to $2.77 per share, while operating (non-GAAP) guidance is $2.70 to $3.00 per share. The change reflects the impact of lower depreciation resulting from the asset impairment charges and additional costs associated with the company's strategic review of its competitive operations.
For the fourth quarter of 2016, the asset impairment and plant exit costs resulted in a GAAP loss of $(5.8) billion, or $(13.44) per basic and diluted share of common stock, on revenue of $3.4 billion. These results compare to a fourth quarter 2015 GAAP loss of $(226) million, or $(0.53) per basic and diluted share of common stock, on revenue of $3.5 billion.
Operating (non-GAAP) earnings* for the fourth quarter of 2016 were $0.38 per basic share of common stock and compare to operating (non-GAAP) earnings of $0.58 per share of common stock for the fourth quarter of 2015.
In FirstEnergy's Regulated Distribution business, fourth quarter 2016 earnings increased compared to the same period in 2015 due to higher distribution revenues and lower operating and interest expense. These offset higher expense related to depreciation, benefits, and taxes. On a GAAP basis, earnings in the Regulated Distribution segment benefited from a lower annual pension and OPEB mark-to-market adjustment compared to the same period in 2015.
Total distribution deliveries increased 4 percent in the fourth quarter of 2016 compared to the same period in 2015. Weather-related usage resulted in an 8 percent increase in residential sales compared to the prior-year period, while commercial sales increased 3 percent due to a combination of weather and stronger demand. Heating degree days in the fourth quarter of 2016 were 8.9 percent below normal but 26.3 percent higher than the same period of 2015. Deliveries to industrial customers increased nearly 2 percent, primarily due to higher usage in the shale gas and steel sectors.
Fourth quarter earnings in the Regulated Transmission business increased as a result of a higher rate base associated with its Energizing the Future transmission program.
In the Competitive Energy Services segment, fourth quarter commodity margin decreased compared to the prior year period due to lower capacity revenues and contract sales volume. This was partially offset by higher wholesale sales and lower capacity and fuel expense. On a GAAP basis, the segment's results reflect the asset impairment and plant exit costs as further described below.
The company's fourth quarter 2016 earnings were also impacted by higher corporate operating expenses.
For the full year, results in the Regulated Distribution business reflect higher distribution revenues primarily related to the full-year impact of rate cases approved in 2015 and higher weather-related sales, as well as lower operating and maintenance costs. These were partially offset by increasing retirement benefit costs and higher other operating expense. On a GAAP basis, full-year 2016 results benefited from a lower annual pension and OPEB mark-to-market adjustment, partially offset by higher regulatory charges.
In the Regulated Transmission business, results were flat year over year, reflecting an increase in rate base offset by a lower return on equity at ATSI as part of its comprehensive formula rate settlement.
In the Competitive Energy Services segment, commodity margin decreased compared to 2015 and retirement benefit costs increased. On a GAAP basis, full-year 2016 results reflect the asset impairment and plant exit costs, partially offset by a lower pension and OPEB mark-to-market adjustment.
Impairments of Competitive Assets
During the second quarter of 2016, FirstEnergy recorded pre-tax asset impairment and plant exit costs associated with the decision to deactivate Bay Shore Unit 1, W.H. Sammis Units 1-4, and the impairment of goodwill at the company's competitive business. In the fourth quarter of 2016, FirstEnergy recognized pre-tax impairment charges of $9.218 billion, or $13.54 per share, resulting from its intention to exit competitive operations by mid-2018, significantly before the end of generation assets' useful lives, and the anticipated cash flows over this shortened period. The impairment charges reduced the carrying value of the majority of the company's competitive generating assets, nuclear fuel and other assets to their estimated fair value.
Consolidated GAAP EPS to Operating (Non-GAAP) EPS* Reconciliation
|
|||||||||||||||||
Fourth Quarter |
Full Year |
Guidance |
|||||||||||||||
2016 |
2015 |
2016 |
2015 |
2017 |
|||||||||||||
Basic Earnings (Loss) Per Share (GAAP) |
$(13.44) |
$(0.53) |
$(14.49) |
$1.37 |
$2.47- $2.77 |
||||||||||||
Excluding Special Items*: |
|||||||||||||||||
Mark-to-market adjustments |
|||||||||||||||||
Pension/OPEB actuarial assumptions |
0.21 |
0.35 |
0.21 |
0.35 |
— |
||||||||||||
Other |
0.03 |
(0.01) |
0.01 |
(0.11) |
— |
||||||||||||
Merger accounting – commodity contracts |
0.01 |
0.11 |
0.05 |
0.16 |
— |
||||||||||||
Regulatory charges |
0.01 |
0.01 |
0.13 |
0.07 |
0.04 |
||||||||||||
Retail repositioning charges |
— |
0.02 |
— |
0.05 |
— |
||||||||||||
Asset impairment/Plant exit costs |
13.54 |
0.59 |
16.67 |
0.67 |
— |
||||||||||||
Debt redemption costs |
0.01 |
— |
0.02 |
— |
0.19 |
||||||||||||
Trust securities impairment |
0.01 |
0.04 |
0.03 |
0.15 |
— |
||||||||||||
Total Special Items* |
13.82 |
1.11 |
17.12 |
1.34 |
0.23 |
||||||||||||
Basic EPS - Operating (Non-GAAP) |
$0.38 |
$0.58 |
$2.63 |
$2.71 |
$2.70 - $3.00 |
||||||||||||
|
|||||||||||||||||
Non-GAAP financial measures
*Operating (non-GAAP) earnings exclude "special items" as described herein, and is a non-GAAP financial measure. Special items represent charges incurred or benefits realized that management believes are not indicative of, or may obscure trends useful in evaluating the company's ongoing core activities and results of operations or otherwise warrant separate classification. Special items are not necessarily non-recurring. Management uses operating (non-GAAP) earnings and operating (non-GAAP) earnings by segment to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Management believes that the non-GAAP financial measure of operating (non-GAAP) earnings provides a consistent and comparable measure of performance of its business on an ongoing basis using the same measures management uses in forecasting, budgeting, long-term planning, and setting compensation. Management also believes that such measures are useful to shareholders and other interested parties to understand performance trends and evaluate the company against its peer group by presenting period-over-period operating results without the effect of certain charges or benefits that may not be consistent or comparable across periods or across the company's peer group. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). This non-GAAP financial measure is intended to complement, and is not considered as an alternative to, the most directly comparable GAAP financial measure. Also, this non-GAAP financial measure may not be comparable to similarly titled measures used by other entities. Per share amounts for the special items above are based on the after-tax effect of each item divided by the weighted average shares outstanding for the period.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the fourth quarter and full year, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on Fourth Quarter 2016 Consolidated Report to the Financial Community. The company's investor FactBook will also be posted to its Investor Information website this evening.
The company invites investors, customers and other interested parties to listen to a live internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EST tomorrow. FirstEnergy management will present an overview of the company's financial results and discuss earnings guidance, followed by a question-and-answer session. The teleconference and presentation can be accessed on the company's website by selecting the Q4 2016 Earnings Conference Call link. The webcast and presentation will be archived on the website for up to one year.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 21, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that Robert B. (Yank) Heisler, Jr., Ted J. Kleisner and Ernest J. Novak, Jr., will conclude their service to the FirstEnergy Board of Directors at the company's annual meeting on May 16. These changes will bring the size of FirstEnergy's Board to 13 members.
"Collectively, Yank, Ted and Ernie have provided 46 years of service to FirstEnergy and our predecessor companies," said Chairman of the Board George M. Smart. "Their counsel and business expertise helped FirstEnergy navigate through a changing and challenging period in the utility industry. We appreciate their service and wish them well in the future."
Heisler, 68, is concluding his service due to health reasons. He has been a director of FirstEnergy Corp. since 2006 and from 1998 to 2004, and is a member of the audit and compensation committees. In 2011 he retired as Dean of the College of Business Administration and Graduate School of Management of Kent State University. Earlier in his career he served as chief executive officer of the McDonald Financial Group, and he was a long-time executive vice president of KeyCorp. Heisler is the retired chairman of the board of KeyBank N.A. He graduated from Harvard University and received an M.B.A. from Kent State University.
Kleisner, 72, is retiring from the board. He has been a director of FirstEnergy since the merger with Allegheny Energy in 2011, and was a director of Allegheny Energy from 2001 to 2011. He serves on the compensation and nuclear committees. Kleisner is a retired chairman and chief executive officer of Hershey Entertainment & Resorts Company. Earlier, he served as president of CSX Hotels, Inc., and as president and chief executive officer of The Greenbrier Resort & Club Management Company. Kleisner holds a Bachelor of Science degree in business administration from the University of Denver.
Novak, 72, is retiring from the board after 13 years of service. He is a member of the audit and finance committees. He retired in 2003 as managing partner of the Cleveland office of Ernst & Young LLP, and is currently a director of BorgWarner, Inc. and A. Schulman, Inc. Novak holds an accounting degree from John Carroll University, a Masters in Accountancy from Bowling Green University, and is a Certified Public Accountant.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Photos of these executives are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, our planned forward-looking formula rates and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; the risks and uncertainties associated with the lack of viable alternative strategies regarding the Competitive Energy Services (CES) segment, thereby causing FirstEnergy Solutions Corp. (FES), and possibly FirstEnergy Nuclear Operating Company (FENOC), to restructure its debt and other financial obligations with its creditors or seek protection under United States bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding, including any obligations at FirstEnergy; the risks and uncertainties at the CES segment, including FES and its subsidiaries and FENOC, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the substantial uncertainty as to FES' ability to continue as a going concern and substantial risk that it may be necessary for FES, and possibly FENOC, to seek protection under United States bankruptcy laws; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; replacement power costs being higher than anticipated or not fully hedged; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of labor disruptions by our unionized workforce; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Ohio Distribution Modernization Rider; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC) regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy Corp.'s business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. The registrants expressly disclaim any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Feb. 17, 2017 /PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), have launched a new Residential Energy Efficiency Program designed to help customers save energy and money. Expanding on previous offerings available only to businesses and qualifying low-income customers, the new program provides a variety of energy-saving opportunities to all residential customers of Mon Power and Potomac Edison in West Virginia. The program includes:
"We're excited to offer opportunities for broader customer participation in our energy efficiency programs in West Virginia," said John Dargie, vice president, Energy Efficiency. "This program provides our residential customers in West Virginia additional tools to manage their electricity use and make energy-saving improvements throughout the home."
In addition to the Residential Energy Efficiency Program, Mon Power and Potomac Edison will continue to offer a low-income program, providing home energy check-up audits and energy-saving home improvements to qualified customers.
For information about these and other energy efficiency programs offered by Mon Power and Potomac Edison, visit www.energysaveWV.com.
Mon Power serves about 385,000 customers in the northern half of West Virginia and Potomac Edison serves about 140,000 customers in the state's Eastern Panhandle. Follow the companies on Twitter @MonPowerWV and @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 14, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the fourth quarter and full year of 2016 after markets close on Tuesday, February 21. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EST on Wednesday, February 22. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
FirstEnergy's fourth quarter Consolidated Report to the Financial Community will be posted on the investor section of the website after markets close on February 21, and the investor FactBook will also be posted to the website that evening.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 1, 2017 /PRNewswire/ -- Customers of FirstEnergy Corp.'s (NYSE: FE) Ohio utilities (Ohio Edison, Toledo Edison and The Illuminating Company) can receive $50 when they recycle an old, working refrigerator or freezer. Customers can call 855-485-7463 or visit www.energysaveOhio.com to schedule a pickup.
"Often, an outdated refrigerator either sits unused or is used for extra storage in a garage or basement," said John Dargie, vice president, Energy Efficiency. "Customers can now responsibly recycle their old refrigerators, which is good for the environment and can lead to energy savings. Refrigerators that are more than 10 years old can use twice the amount of energy of newer ENERGY STAR® models, resulting in savings of over $100 a year in energy costs."
Recleim, LLC manages the recycling program for FirstEnergy's Ohio utilities and is one of the largest appliance recycling companies in North America. Recleim removes refrigerants efficiently and effectively, destroying potent Ozone Depleting Substances (ODS) and Greenhouse Gases (GHG) on-site. Over 95% of the materials in the appliances are captured and sent into recycling streams including metals, plastics and glass.
Additional energy efficiency programs for residential customers of FirstEnergy's Ohio utilities, including incentives for lighting and other energy-efficient products, are expected in the coming months. For information about these and other energy efficiency programs offered by FirstEnergy's Ohio utilities, visit www.energysaveOhio.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Jan. 30, 2017 /PRNewswire/ -- Potomac Edison will hold an information session for its Power Systems Institute (PSI) line worker training program at Blue Ridge Community and Technical College in Martinsburg, W.Va., on Saturday, February 4 at 10 a.m.
Representatives from Potomac Edison will discuss the program and explain how interested students can enroll for the fall 2017 session. Blue Ridge Community and Technical College offers a two-year Associate of Applied Science degree in Electric Utility Technology. Qualified students will receive tuition, books and lab fees courtesy of Potomac Edison. Students with the right grades and skills will have the potential to be hired upon graduation. Class size is expected to range from 15-20 students.
"The Power Systems Institute provides a unique opportunity for interested candidates to pursue a career in the electric utility industry," said James Sears, president of Maryland Operations. "Well trained line workers are essential to our business, and help us maintain safe, reliable service for our customers."
To learn more about starting a rewarding career in the electric utility industry, please join us on February 4:
Blue Ridge Community and Technical College
Saturday, February 4, 2017, 10 a.m. to noon
Main Campus – Room 1101
13650 Apple Harvest Drive, Martinsburg, W.Va., 25403
More information is available online at www.firstenergycorp.com/psi or by calling 1-800-829-6801.
Potomac Edison serves about 257,000 customers in seven Maryland counties and more than 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 25, 2017 /PRNewswire/ -- FirstEnergy (NYSE: FE) today announced that Ebony Yeboah-Amankwah has been promoted to Vice President, State and Federal Regulatory Legal Affairs.
In her new role, Yeboah-Amankwah will assume responsibility for labor, employment, benefits, real estate and tax law, and continue to manage State and Federal Energy Regulatory Commission (FERC) Legal Regulatory Affairs.
She joined FirstEnergy in 2005 as an attorney supporting the company's Treasury Department, and was promoted several times in the Legal Department, developing expertise in the area of state regulatory affairs. In 2011, she was named executive director of State Affairs, managing legislative and regulatory strategy across the company's six-state service area. She returned to the Legal Department in 2012 and most recently served as Executive Director, State and FERC Legal Affairs.
Yeboah-Amankwah earned Bachelor of Arts degrees in political science and philosophy from Washington & Jefferson College, and received her law degree from Washington and Lee University.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Jan. 24, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) utility crews, assisted by personnel from other FirstEnergy (NYSE: FE) utilities and local contractors, continue working to restore service to about 500 customers who remain without power after strong winds and heavy rain moved through the region late Sunday night and early Monday morning.
JCP&L customers who remain without power can pick up water and ice free of charge at the following locations:
JCP&L currently anticipates that the remaining customers without power will be restored by late this evening. Approximately 55,000 JCP&L customers were originally affected by the storm, with the hardest hit areas in Monmouth, Ocean and Burlington counties.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to 1-888-LIGHTSS (1-888-544-4877) or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For additional information, follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Jan. 23, 2017 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has restored service to more than 30,000 customers who lost power as a result of the strong winds and heavy rain that moved through the region beginning late last night and early today.
Currently, a workforce of more than 1,100 JCP&L personnel and contractors has been deployed and will work around the clock as part of the restoration effort. In addition, approximately 260 additional FirstEnergy (NYSE: FE) line workers, hazard responders and contractors from Ohio are traveling to New Jersey to provide assistance.
Restoration efforts are continuing for the remaining 13,000 customers without power in the hardest hit areas of Monmouth, Ocean and Burlington counties, with the majority of affected customers expected to be restored by late Tuesday. The crews have been hampered by heavy rain and wind gusts reaching 50 to 60 mph at times.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. Customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be exercised in areas where downed wires may be tangled in downed tree branches or other debris.
For additional information, follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 19, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced it has entered into an agreement to sell four competitive natural gas generating plants in Pennsylvania and its competitive portion of a Virginia hydroelectric power station to a subsidiary of LS Power Equity Partners III, LP, of New York. Under the terms of the agreement, the facilities would be purchased for approximately $925 million in an all cash transaction. The transaction is expected to close in the third quarter of 2017, subject to customary and other closing conditions, including approval by the Federal Energy Regulatory Commission (FERC) and other agencies, as well as third-party consents.
The power stations included in the sale are owned directly or indirectly by FirstEnergy subsidiaries Allegheny Energy Supply Company, LLC, and Allegheny Generating Company and have a total capacity of 1,572 megawatts (MW). The 23 current employees at these power stations will be offered employment with the new owner. The transaction includes:
In November 2016, FirstEnergy announced it was moving away from competitive generation markets and was exploring a variety of options, including seeking to move some of its competitive assets to more regulated or regulated-like constructs, or selling or deactivating additional units. The sale of these plants is consistent with FirstEnergy's strategy of operating as a fully regulated utility company.
Upon completion of the sale, FirstEnergy will own or control a total generating capacity of approximately 15,380 megawatts from nuclear, coal, hydro, wind and solar facilities across Ohio, Pennsylvania, West Virginia, New Jersey, Virginia and Illinois.
LS Power, an employee-owned, independent power company with offices in New York, New Jersey, Missouri and California, is a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Jan. 19, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today the Pennsylvania Public Utility Commission (PPUC) has approved the company's base rate case settlements that will help support and build on the significant service reliability enhancements made in recent years to benefit more than two million customers in the state.
FirstEnergy's Pennsylvania utilities include Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power Company (Penn Power), and West Penn Power Company (West Penn Power).
The approved rate plans for each utility are expected to benefit customers by continuing infrastructure projects, including circuit and substation upgrades and pole replacements, along with additional vegetation management and equipment replacements. The rate plans also include continued assistance for providing service to low-income customers, about $95.3 million annually.
With today's action, the PPUC approved an Administrative Law Judge's previous recommended decision regarding settlement agreements between FirstEnergy's Pennsylvania utilities and the Office of Consumer Advocate, the Office of Small Business Advocate, the Bureau of Investigation and Enforcement, the West Penn Power Industrial Intervenors, the Penelec Industrial Customer Alliance, the Met-Ed Industrial Users Group, The Pennsylvania State University, the Coalition for Affordable Utility Services and Energy Efficiency in Pennsylvania, Wal-Mart Stores East, LP and Sam's East, Inc., North America Hoganas Holdings, Inc., and AK Steel Corporation.
"FirstEnergy is focused on providing dependable electricity to our customers for their homes, businesses and communities, and today's PPUC approval will help us deliver on this commitment," said Linda Moss, FirstEnergy president of Pennsylvania Operations. "Today's action by the PPUC will provide us the resources and technology necessary to continue to enhance our infrastructure and provide safe and reliable electric service for our customers."
The new rates will result in the following increases for residential customers using 1,000 kilowatt-hours a month:
The new rates for all of FirstEnergy's Pennsylvania utilities will be effective January 27, 2017.
Met-Ed serves about 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric. Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric. Penn Power serves approximately 163,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower. West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Jan. 18, 2017 /PRNewswire/ -- Mon Power is expanding its customer outreach with the launch of its Facebook page. The new page builds on the company's successful Twitter account, @MonPowerWV, to connect with customers, provide customers with important information related to their electric service, and share energy-related tips.
"Our new Facebook page gives us another opportunity to communicate with our customers, particularly during major weather events that can impact electrical service," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "We'll also share stories about the important work of our employees and ways we support the community."
Customers are encouraged to like Mon Power's Facebook page by visiting www.facebook.com/MonPowerWV. By connecting, customers can:
The launch of the Facebook page is the latest in Mon Power's ongoing effort to share proactive information to customers using a variety of platforms. In addition to social media, Mon Power customers can sign up to receive alert notifications via email or text message that contain billing reminders, weather alerts in advance of severe storms, or updates on scheduled or extended power outages. Customers also can use two-way text messaging to report outages, request updates on restoration efforts and make other inquiries about their electric accounts.
The company also provides comprehensive outage information through its 24/7 Power Center map and on its website, which is optimized for mobile phones. Additionally, customers can download the Mon Power smartphone app for Apple® iPhone® and Android™ devices.
Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power at www.mon-power.com, on Twitter @MonPowerWV, and on Facebook at www.facebook.com/MonPowerWV.
"Apple" and "iPhone" are registered trademarks of Apple Inc.
"Android" is a trademark of Google Inc.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Jan. 18, 2017 /PRNewswire/ -- Potomac Edison is expanding its customer outreach with the launch of its Facebook page. The new page builds on the company's successful Twitter account, @PotomacEdison, to connect with customers, provide customers with important information related to their electric service, and share energy-related tips.
"Our new Facebook page gives us another opportunity to communicate with our customers, particularly during major weather events that can impact electrical service," said James A. Sears, Jr., vice president of Potomac Edison. "We'll also share stories about the important work of our employees and ways we support the community."
Customers are encouraged to like Potomac Edison's Facebook page by visiting www.facebook.com/PotomacEdison. By connecting, customers can:
The launch of the Facebook page is the latest in Potomac Edison's ongoing effort to share proactive information with customers using a variety of platforms. In addition to social media, Potomac Edison customers can sign up to receive alert notifications via email or text message that contain billing reminders, weather alerts in advance of severe storms, or updates on scheduled or extended power outages. Customers also can use two-way text messaging to report outages, request updates on restoration efforts and make other inquiries about their electric accounts.
The company also provides comprehensive outage information through its 24/7 Power Center map and on its website, which is optimized for mobile phones. Additionally, customers can download the Potomac Edison smartphone app for Apple® iPhone® and Android™ devices.
Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at www.potomacedison.com, on Twitter @PotomacEdison, and on Facebook at www.facebook.com/PotomacEdison.
"Apple" and "iPhone" are registered trademarks of Apple Inc.
"Android" is a trademark of Google Inc.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 18, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is upgrading an existing 69-kilovolt (kV) transmission line to meet rising electric demand in some of the fastest-growing communities served by its Penn Power utility, including Mars, Seven Fields Borough, and Wexford, as well as Adams, Cranberry and Pine townships.
The $17.5 million project includes removing the existing structures and replacing them with a new set of wood poles capable of carrying new, higher capacity wires. Nearly seven miles of wire has been installed on 120 wood structures within the existing right-of-way. In addition, remote control switching devices are being added to allow grid operators to assess operational conditions more quickly, helping to reduce the length and frequency of power outages.
"Upgrading this transmission line will help keep power flowing around the clock to many of the fastest-growing communities in our service territory," said Randy Frame, regional president of Ohio Edison and Penn Power. "The new power line and remote-control equipment will help strengthen the grid and increase the flexibility and redundancy of our system."
Construction is nearly complete, with the line expected to be fully energized later this month. FirstEnergy and its contractors utilized helicopters to build the line, which significantly reduces the amount of time needed for stringing wires, reduces environmental impacts, and minimizes disruptions to local residents.
The project is part of FirstEnergy's Energizing the Future initiative, a $4.2 to $5.8 billion investment program in electric transmission infrastructure between 2017-2021. Key factors driving these investments include replacing existing equipment with advanced technologies designed to enhance system reliability; meeting projected load growth driven by shale gas-related activity and other development in the region; and reinforcing the system in light of power plant deactivations.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Aerial construction photos are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 18, 2017 /PRNewswire/ -- Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), will energize a new $2.5 million substation near Lisbon, Ohio, later this month to enhance customer service reliability and help meet future demand for electricity in the area.
The substation, located in Guilford, was built in less than ten months using a standard design that was more cost effective and helped to expedite construction. The project included using precast concrete foundations, a large transformer, switching gear, and circuit breakers. Animal protection devices made out of polymer material also were installed on key parts of the equipment to help reduce outages caused by squirrels and other animals.
"The new substation is designed to help enhance service reliability for more than 30,000 customers in Columbiana County, while helping to prepare our system for future load growth," said Randall A. Frame, regional president of Ohio Edison. "This project is the fifth modular substation we have completed in the Ohio Edison area over the past several years. In addition to reducing the construction schedule, the standardized design also helps reduce maintenance costs."
The substation is connected to the existing Ohio Edison system in the region using two underground circuits that were built as part of this project. Specialized communications equipment also was installed at the substation to remotely monitor operations. If needed, circuit breakers or other relay devices can be reset automatically to help reduce the duration of an outage.
The substation project is part of FirstEnergy's previously announced plan to invest more than $369 million last year in distribution and transmission infrastructure projects to enhance service reliability in Ohio Edison's service area. More than $225 million of the total was expected to be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
Ohio Edison is a subsidiary of FirstEnergy Corp. and serves more than one million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at http://www.facebook.com/OhioEdison, and online at www.ohioedison.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter: @FirstEnergyCorp.
Editor's Note: Photos of the new Ohio Edison substation near Lisbon, Ohio, are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 17, 2017 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable March 1, 2017, to shareholders of record at the close of business on February 7, 2017.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 17, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that Steven J. Demetriou and James F. O'Neil III have been elected to the company's Board of Directors.
Demetriou, 58, is chairman and chief executive officer of Dallas-based Jacobs Engineering Group, Inc., a global technical professional and construction services company. O'Neil, 58, is a partner at Western Commerce Group, an advisory and investment firm based in Fort Worth, Texas.
"We welcome Steve Demetriou and Jim O'Neil to our Board," said George M. Smart, chairman of FirstEnergy's Board of Directors. "Both are seasoned leaders with extensive executive and board experience, which will be valuable to our company and its shareholders."
These elections bring the size of FirstEnergy's Board to 16 members.
Demetriou has more than 30 years of leadership experience, including 15 years in the role of chief executive officer at various companies. Prior to joining Jacobs in 2015 he served as chairman and chief executive officer of Cleveland-based Aleris Corporation, a global leader in aluminum rolled products, from 2004 until 2015.
Demetriou was president and chief executive officer of Noveon, a specialty chemicals business, from 2001 until 2004; president of IMC Phosphates from 1999 until 2001; and vice president, Global Specialty Resins and president of Asian operations at Cytec Industries, Inc. He began his career at Exxon Mobil Corporation, where he held roles of increasing responsibility in operations, commercial, financial and general management during his 16 years at the company.
Demetriou has been a director of Kraton Corporation (2009 until Kraton's 2017 Annual Meeting). He was a director of Foster-Wheeler AG from 2008 to 2014, serving as non-executive chairman from 2011 to 2014. He was also a director of the OM Group from 2005 to 2015.
He holds a Bachelor of Science degree in Chemical Engineering from Tufts University.
Prior to joining Western Commerce Group, O'Neil was president, chief executive officer and a director of Quanta Services from 2011 until 2016. He was the company's chief operating officer from 2008 until 2011, and senior vice president Operation Integration and Audit from 2002 until 2008. He joined Quanta Services as vice president, Operation Integration in 1999. During his tenure as CEO at Quanta, O'Neil oversaw significant growth, as the company nearly doubled revenues and employee base, expanded into Latin America and Australia, and further diversified its services.
O'Neil began his career at Halliburton, where he rose from engineering, sales and operational roles into global leadership positions.
O'Neil is a director at National Trench Safety and at Sterling Lumber, where he was elected Chairman in 2016. He is also vice chairman of the Board and chairman-elect of American Red Cross – Houston Gulf Coast Region.
O'Neil received a Bachelor of Science degree in Civil Engineering from Tulane University.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of Demetriou and O'Neil are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
READING, Pa., Jan. 16, 2017 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Met-Ed, Penn Power and West Penn Power are now offering commercial and industrial customers a Demand Response Program that provides financial incentives to businesses that curtail their energy use when requested by the utility during peak hours. The program will operate from 2017 through 2020 during the summer months of June through September.
Load reduction can include temporarily reducing or shutting down industrial processes, turning off lights in groups or sequences, reducing the use of HVAC systems, shutting down large motors and compressors, or starting back-up generation.
"This demand response program is a great opportunity for businesses to improve their bottom line by managing their electricity use," said John Dargie, vice president, Energy Efficiency. "In addition to saving energy, businesses that participate can reduce the demand on the electric system and help prevent potential increases in electricity prices when demand is high."
The program is administered by approved Demand Response Program Service Providers selected by FirstEnergy's Pennsylvania utilities: CPower and EnerNOC. For questions regarding the program, or for more information about participating, visit your utility's program webpage:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 16, 2017 /PRNewswire/ -- FirstEnergy (NYSE: FE) today announced that a $30 million transmission project has been energized in Elyria, Ohio, to meet rising demand for electricity driven by commercial and industrial load growth in the area.
The centerpiece of the project is a new 345/138-kilovolt (kV) substation that will increase the electric capacity available to serve Ohio Edison customers in Elyria, Lorain, Sheffield Lake and Vermilion, as well as provide FirstEnergy with greater flexibility to operate the local transmission network. The project also required the construction of eight transmission lines supported by 36 new tower structures, which were needed to connect existing power lines in the area to the new substation. FirstEnergy and its affiliates worked closely with property owners to acquire the necessary easements and to build the new transmission lines with as little disruption as possible.
Construction began in late 2015 after the substation was approved by the Ohio Power Siting Board, and the new facilities were energized ahead of a December 2016 in-service deadline.
"The new substation will provide a significant reinforcement to the electric system across our region and ensure that the grid can support commercial and industrial activity in Lorain County," said Randy Frame, regional president of Ohio Edison. "The construction work was completed safely, on time, and within budget, with minimal impact on local communities and property owners."
The project is part of FirstEnergy's Energizing the Future initiative, a $4.2 to $5.8 billion investment program in electric transmission infrastructure between 2017-2021 that involves upgrading and strengthening the grid to meet the future demands of customers and communities. Key factors driving this major investment in FirstEnergy's transmission system include replacing existing equipment with advanced technologies designed to enhance system reliability; meeting projected load growth driven by shale gas-related activity and other development in the region; as well as reinforcing the system in light of power plant deactivations.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of the new substation are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 12, 2017 /PRNewswire/ -- For the 11th consecutive year, FirstEnergy Corp. (NYSE: FE) has earned recognition for its emergency response efforts from the Edison Electric Institute (EEI), a leading electric industry organization.
FirstEnergy was honored with the "Emergency Assistance Award" as a result of sending about 600 line workers, contractors and support personnel to assist Florida Power and Light and Duke Energy after Hurricane Matthew caused large-scale power outages along the East Coast. Over a 10-day period in early October last year, FirstEnergy personnel were part of an effort that helped restore electric service to 1.2 million Florida Power and Light customers in Florida and 157,000 Duke Energy customers in South Carolina.
FirstEnergy also earned the "Emergency Recovery Award" for restoration efforts of its own customers following severe thunderstorms and flooding that caused more than 70,000 Mon Power customers in West Virginia to lose power in late June of last year. More than 1,000 company line workers, contractors, damage assessors and support personnel were part of the restoration effort. Despite accessibility issues with flooded substations and multiple transmission structures being damaged in inaccessible mountain areas, FirstEnergy crews were able to restore more than 90 percent of the customers within four days.
"The tireless work of FirstEnergy's crews to quickly and safely restore service to customers, and to lend assistance to neighboring electric companies, demonstrates the industry's strong commitment to customer service," said EEI President Tom Kuhn. "FirstEnergy's dedicated crews who faced challenging conditions are greatly deserving of this recognition."
"Receiving both awards is a special honor because it means our employees used their considerable skills in difficult work environments to benefit our own customers, and those of other utilities," said Steven Strah, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "What is most impressive is that the repairs were made with no accidents or injuries, which is a testament to our employees' commitment to safety."
EEI presents these awards to member companies to recognize extraordinary efforts to restore power or for assisting other electric companies after service disruptions caused by severe weather conditions and other natural events. Winners are chosen by an independent panel of electric industry experts following an international nomination process. The awards were presented January 11, 2017, during the winter EEI Board of Directors and CEO meeting in Florida.
EEI is the association that represents all U.S. investor-owned electric companies. Members provide electricity for 220 million Americans, operate in all 50 states and the District of Columbia, and directly and indirectly employ more than one million workers. EEI has dozens of international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy and its utilities on Twitter: @FirstEnergyCorp, @ToledoEdison, @IlluminatingCo, @OhioEdison, @MonPowerWV, @JCP_L, @Penn_Power, @Penelec, @Met_Ed, @PotomacEdison, @W_Penn_Power.
Editor's Note: A photo of Steven Strah, senior vice president of FirstEnergy and president of FirstEnergy Utilities, accepting the emergency response awards from EEI President Tom Kuhn is available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 6, 2017 /PRNewswire/ -- The FirstEnergy Foundation has donated $25,000 to support Feeding Pennsylvania's Fill a Glass with Hope®, the first statewide charitable fresh milk program in the nation. The grant was presented at the Pennsylvania Farm Show today in Harrisburg by Linda Moss, president of Pennsylvania Operations for FirstEnergy.
'Fill a Glass with Hope' will help Pennsylvania's food banks provide more than 520,000 children with fresh milk throughout 2017. The program is a partnership between Feeding Pennsylvania, the Mid-Atlantic Dairy Association, the Pennsylvania Dairy Promotion Program and the Pennsylvania Dairymen's Association.
"Milk is one of the most requested items at Pennsylvania food banks, but people rarely donate milk because it's perishable," said Dee Lowery, president of the FirstEnergy Foundation. "We're pleased to be able to help fill this need for Pennsylvania families through this unique statewide effort."
The goal of the program this year is to distribute 2 million servings of milk through eight regional food banks across the state.
Feeding Pennsylvania promotes and aids its member food banks in securing food and other resources to reduce hunger and food insecurity in their communities and across Pennsylvania. To donate, please visit http://www.feedingpa.org/support-our-mission/.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Jan. 4, 2017 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has rebuilt a transmission line connecting substations in Bowling Green and Pemberville to help enhance service reliability for about 38,000 customers in Wood County in the Toledo Edison service area.
The $6.3-million project included replacing 220 poles in the existing transmission right-of-way and installing a second 69-kilovolt circuit. Overall, more than 16 miles of wire was installed along the route. In addition, remote control switching devices were installed on the new sections, which allows grid operators to assess operational conditions more quickly, reducing the length and frequency if service disruptions occur.
"Doubling the capacity of the transmission line will help provide increased reliability for customers in Wood County," said Rich Sweeney, regional president of Toledo Edison. "The rebuilt power line and remote-control equipment will help strengthen the grid and increase the flexibility and redundancy of our system."
The rebuilt line went into service in mid-December. As part of the project, work also was done to upgrade the Pemberville substation, with additional enhancements scheduled to be done at the Bowling Green substation next year.
The project is one of numerous distribution and transmission infrastructure projects totaling approximately $115 million that FirstEnergy completed in 2016 in Toledo Edison's service area.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of work to rebuild a Toledo Edison transmission line in Wood County are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Dec. 27, 2016 /PRNewswire/ -- Jersey Central Power & Light has expanded an environmental program to help protect New Jersey's threatened ospreys.
The comprehensive program includes surveying all the locations where ospreys have started nesting, or given indications of future nesting, on JCP&L poles and other equipment. New nesting platform locations are then identified and built that do not pose a hazard due to proximity to electrical equipment. In addition, specialized equipment is installed to divert and discourage ospreys from nesting in potentially hazardous locations.
This year, JCP&L was able to successfully move two osprey nests – one in Brick Township in Ocean County and the other in Union Beach in Monmouth County – to new, safer nesting platforms that were built nearby.
"This program showcases JCP&L's commitment to protecting ospreys and other nesting raptors while also taking steps to help ensure the reliability of our electric system," said Tony Hurley, JCP&L vice president of operations. "In the past, we successfully relocated one or two osprey nests. With this expanded initiative, our goal is to move as many nests as possible before birds are injured or it causes a service interruption for customers."
"As the osprey population continues to grow, we appreciate the proactive protection work being done by JCP&L," said Ben Wurst, Habitat Program Manager, Conserve Wildlife Foundation of New Jersey. "To an osprey, a utility pole near the coast seems like an ideal spot to perch or build a nest, but it could jeopardize their health. This comprehensive JCP&L program will help ospreys coexist with the demands of our modern society."
Plans are in the works to address more nests in 2017, including:
In addition to focusing on ospreys, JCP&L's previous avian protection efforts included setting nesting boxes and the banding of endangered American Kestrels.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos of relocated osprey nests are available for download on Flickr.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Dec. 19, 2016 /PRNewswire/ -- West Penn Power is completing work on approximately $17 million of electrical system projects as part of its 2016 Long-Term Infrastructure Improvement Plan, a multi-year program specifically designed to help reduce the number and duration of potential power outages experienced by the company's 720,000 customers.
The projects include installing enhanced protective devices on wires and poles, replacing or rebuilding electric lines, adding other special equipment, and installing automated and remote control devices.
"These projects benefit customers by complementing the work we already do each year to enhance the reliability of our electric system," said David W. McDonald, regional president of West Penn Power. "Our goal is to make our system the best it can be when it comes to limiting the number and duration of outages our customers experience."
West Penn Power's Long-Term Infrastructure Improvement Plan was approved earlier this year by the Pennsylvania Public Utility Commission. Ultimately, this five-year program will result in an additional $88 million being spent through 2020 on targeted distribution infrastructure enhancement projects to help reduce service interruptions in the West Penn Power service area.
Long-Term Infrastructure Improvement Plan projects completed this year in the West Penn Power service area include:
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 720,000 customers in 23 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Dec. 16, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) subsidiary Mon Power today issued two requests for proposals (RFP).
The first RFP seeks 1,300 MWs of generation capacity and up to 100 MWs of demand-response resources, which are temporary reductions of electrical usage by customers. The second solicits bids for a possible sale of Mon Power's ownership interest in the Bath County Pumped Storage Hydroelectric Generating Station located in Warm Springs, Virginia.
Mon Power has engaged a nationally recognized consultant to assist in the preparation, administration and evaluation of the RFPs. Proposals will be received and evaluated in early 2017. Additional details regarding the RFP for generation capacity, including contact information, can be found at www.MonPower-RFP.com. Information about bidding on Mon Power's ownership interest of Bath can be found at www.BathCounty-RFP.com.
Updated energy usage forecasts show Mon Power will need additional capacity starting in 2017, with a steadily increasing shortfall expected to reach about 1,400 megawatts (MW) by 2027. Rapid growth of the expanding Marcellus shale gas industry is a primary driver of load growth in West Virginia. A capacity shortfall was identified in the company's Integrated Resource Plan (IRP) filed with the Public Service Commission of West Virginia (WV PSC) in 2015.
Mon Power will seek regulatory approval from the WV PSC and the Federal Energy Regulatory Commission (FERC) after a proposal or proposals are selected.
The sale of Mon Power's ownership interest in the Bath facility is being considered because recent changes in the PJM capacity market will subsequently diminish the cost-effectiveness of using the facility to provide generation and capacity revenue to customers. Capacity is the commitment of generation or other resources to be available to provide electricity, particularly when demand surges during extreme cold snaps or heat waves.
If Mon Power identifies an acceptable buyer for its Bath ownership interest, it would seek regulatory approvals as necessary to complete the sale.
PJM is the regional transmission operator that operates a competitive wholesale electricity market and manages the electric transmission grid in all or parts of 13 states and the District of Columbia to help ensure reliability for more than 61 million people.
Mon Power supplies electricity to both its 385,500 customers and 137,000 Potomac Edison customers in the state's Eastern Panhandle. FirstEnergy is committed to supplying its West Virginia customers with a supply of safe, reliable, cost-effective electricity for years to come.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 15, 2016 /PRNewswire/ -- The FirstEnergy Foundation has donated $10,000 to support expansion of the educational activities of the Great Swamp Watershed Association, which is dedicated to educational outreach about environmental impacts in the Passaic River watershed in New Jersey.
The funding will be used for additional educational programs in communities served by Jersey Central Power & Light, including Berkeley Heights, New Providence, Chatham Borough and Summit. Programs include hands-on lessons in schools, water monitoring by students, field trips, educational events for the public and environmental policy meetings with local officials.
"Since its founding in 1981, the Great Swamp Watershed Association has been doing excellent work to educate legislators, local officials and the public about the important factors that keep the watershed safe and sustainable for future generations," said Dee Lowery, president of the FirstEnergy Foundation. "We are pleased to support the expansion of these educational efforts to additional communities located within the watershed."
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Dec. 14, 2016 /PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), announced today that the Public Service Commission (PSC) of West Virginia has approved a settlement agreement allowing recovery of costs for fuel, purchased power expenses, energy efficiency programs and environmental controls incurred by the utilities to provide safe and reliable electricity to customers.
While fuel and purchased power rates typically change annually, the settlement negotiated by the utilities, PSC Staff, the Consumer Advocate Division, and the West Virginia Energy Users Group stabilizes rates for the companies' West Virginia customers for two years. The new rates begin Jan. 1, 2017, and will remain in place until Dec. 31, 2018.
As a result, the monthly bill for a typical residential customer using 1,000 kilowatt-hours of electricity will rise about 1.9 percent or $2.13, which includes $1.53 for the fuel and purchased power costs and $.60 for the increased energy efficiency costs. Even with the increase, rates for Mon Power and Potomac Edison residential customers will be more than 13 percent below the national average.
Under a cost recovery process established by the PSC in 2007, Mon Power and Potomac Edison customer bills are adjusted annually to reflect increases or decreases in the cost of fuel used to generate electricity and purchase power. Mon Power and Potomac Edison do not profit from increased fuel and purchased power costs.
To help customers manage their bills, Mon Power and Potomac Edison offer budget plans, special payment plans, and access to energy assistance programs. For home energy efficiency tips and programs, customers can check FirstEnergy's internet site at www.firstenergycorp.com or call the Customer Service Center at 1-800-255-3443 to request information.
Mon Power serves about 385,000 customers in the northern half of West Virginia and Potomac Edison serves about 140,000 customers in the state's Eastern Panhandle. Follow the companies on Twitter @MonPowerWV and @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 13, 2016 /PRNewswire/ -- With the possibility of below-zero temperatures affecting much of the eastern United States this week, FirstEnergy Corp. (NYSE: FE) utilities remind customers of steps they can take to better manage energy bills that may climb as the frigid weather lingers.
Based on current forecasts, the areas served by Mon Power in West Virginia; Potomac Edison in Maryland and West Virginia; Metropolitan Edison, Pennsylvania Electric Company, West Penn Power and Pennsylvania Power in Pennsylvania; and Jersey Central Power & Light in New Jersey could see single-digit temperatures or lower throughout the week.
Tips for saving energy through continued cold weather include:
Utility System Preparation Work Enhances Winter Operations
Winter's cold temperatures produce increased demand for electricity and the cold temperatures, heavy snow and wind have the potential to cause damage to poles, wires and substations, requiring FirstEnergy crews to make repairs in difficult conditions. In advance of the winter season, FirstEnergy's utilities completed maintenance work on equipment and did various inspections to help prepare its infrastructure for cold-weather operations.
The winter preparation work included inspecting heating equipment for substation components, such as capacitor banks, transformers, and oil- and gas-filled circuit breakers. Substation buildings that house remote-controlled relay equipment were winterized and the heating systems inspected.
Company bucket trucks and other vehicles also have been inspected to ensure safe operation during the winter season. Special emphasis is placed on the condition of tires and any air braking systems, which can freeze if moisture is present. In addition, snow removal equipment is on standby. Plows are used to help crews gain access to substations, and to clear the work areas and sidewalks at company service garages and other facilities.
In addition, tree trimming throughout the year helps meet the rigors of winter operations by maintaining proper clearances around electrical systems and helping to protect against tree-related outages.
Employee safety also is a priority during the winter. FirstEnergy's cold-weather operational procedures are reviewed with linemen, substation electricians, and meter readers in advance of any frigid conditions. Company personnel often take extra measures to stay warm when working in extreme cold to restore power after an outage. Crews also could be delayed by treacherous driving conditions.
Customer Communications Options
If winter weather does cause an outage, customers who are without power should call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com.
Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions.
Connect with the companies online at www.firstenergycorp.com, on Twitter at @Met_Ed, @Penelec, @Penn_Power, @W_Penn_Power, @JCP_L, @MonPowerWV, or @PotomacEdison, or on Facebook at www.Facebook.com/MetEdElectric, www.Facebook.com/PenelecElectric, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.Facebook.com/JCPandL.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Dec. 12, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) announced today the New Jersey Board of Public Utilities (BPU) has approved a settlement in the company's base rate case that will help support and build on the significant service reliability enhancements made by the utility in recent years to benefit its more than one million customers in the state.
Parties to the settlement include: the BPU staff; New Jersey Division of Rate Counsel; Gerdau Steel; U. S. Department of Defense; and New Jersey Large Energy Users Coalition.
The settlement results in a 3.6 percent overall rate increase – or $3.98 a month – for a residential customer using 768 kilowatt hours of electricity, which is the average monthly usage for all JCP&L residential customers. Even with the increase, JCP&L continues to offer the lowest residential electric rates among New Jersey's four regulated electric distribution companies.
Overall, the increase will total $80 million and be used to continue tree trimming, inspections of lines, poles and substations, and maintenance for newly installed equipment that enhances and modernizes the electric system.
The settlement will help the company recover costs of investments in service-related enhancement projects that have been completed since mid-2012. These investments helped JCP&L achieve its best service reliability record in more than a decade last year, including a 33 percent reduction in system outage duration and a 19 percent improvement in customer restoration times. In addition, the utility's tree trimming and vegetation management programs have reduced tree-related outages more than 38 percent.
"It's our job to provide dependable electricity to our customers for their homes, businesses and communities, and the rate settlement will help us deliver on this commitment," said Jim Fakult, president of JCP&L. "The additional revenue will provide us the resources and technology necessary to enhance our infrastructure to help continue safe and reliable electric service for our customers."
JCP&L's new rates will be effective January 1, 2017.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the risks and uncertainties associated with a lack of viable alternative strategies regarding the CES segment, thereby causing FES to seek protection under the bankruptcy laws and the losses, liabilities and claims arising from such bankruptcy proceeding; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio, as defined under each of such credit facilities, in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K, any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Dec. 6, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has completed upgrades on more than 80 major circuits this year to enhance customer reliability. Overall, the modernization work will help reduce the number and duration of service interruptions for more than 113,000 customers in central and northern New Jersey.
Among the projects completed was an upgrade of equipment in the area known as the Great Swamp in Chatham Borough. The work required installing planking to allow workers to safely access the poles and wires while protecting the natural vegetation. After gaining access, crews installed modern polymer insulators, replaced wooden cross arms with fiberglass arms, along with inspecting other equipment.
The circuit enhancement work is part of JCP&L's plan to invest $387 million on infrastructure projects in 2016.
"Circuit upgrades serve an important role in enhancing service to customers," said Tony Hurley, vice president of Operations for JCP&L. "As we prepare for the upcoming winter season, the work that has been completed will help prevent or reduce the duration of service interruptions to customers."
The upgrade work included installing more resilient fuses, animal guards and lightning protection devices; enhanced tree trimming efforts; replacing wooden cross arms at the top of utility poles; and installing fault indicators that help pinpoint problem areas, helping to speed the restoration process if an outage occurs. In addition, automated equipment was added to the distribution system that allows JCP&L to automatically detect the location of faults and quickly restore the vast majority of customer served by the line while other repairs are made.
Over the past several months circuit upgrades were completed in the following counties and municipalities:
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos of JCP&L work performed in Chatham Borough are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Dec. 6, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has named Dan DeVille director, External Affairs for The Illuminating Company and Toledo Edison service areas.
The company's External Affairs group serves as liaisons with municipal governments, key commercial and industrial customers, and civic organizations, as well as providing support for community involvement activities. DeVille will be based at The Illuminating Company's regional headquarters in Brecksville, Ohio, and will lead a team of eight External Affairs managers who work from regional offices in the Cleveland and Toledo areas. He is replacing Doug Hogan, who has retired from the company.
DeVille joined the company in 1985 as an engineer with Ohio Edison. Throughout his 31-year career he has held a number of positions, including Customer Support specialist, National Account executive, and other positions at FirstEnergy and FirstEnergy Solutions. Most recently, he was External Affairs manager for Ohio Edison's Mansfield and Marion areas.
DeVille received a bachelor's degree in mechanical technology engineering from The University of Akron and is a graduate of North Canton Hoover High School.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo. Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: A photo of Dan DeVille is available for download on Flickr.
SOURCE FirstEnergy Corp.
READING, Pa., Dec. 1, 2016 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) is completing work on approximately $7.5 million of electric system projects as part of its 2016 Long-Term Infrastructure Improvement Plan to reduce the number and duration of service interruptions experienced by the company's 560,000 customers.
The projects include installing enhanced protective devices on wires and poles, replacing or upgrading electric lines, adding other special equipment, and installing automated and remote control devices.
"These projects benefit customers by complementing the work we already do each year to enhance the reliability of our electric system," said Ed Shuttleworth, regional president of Met-Ed. "Our goal is to make our system the best it can be when it comes to limiting the number of outages our customers experience."
Met-Ed's Long-Term Infrastructure Improvement Plan was approved earlier this year by the Pennsylvania Public Utility Commission. This five-year, $43-million program will target distribution infrastructure projects to enhance service reliability in the Met-Ed area through 2020.
Projects completed this year in the Met-Ed service area include:
In 2017, Met-Ed is expected to spend an additional $9 million on similar Long-Term Infrastructure Improvement Plan projects.
Met-Ed, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of some of the equipment that was installed as part of Met-Ed's 2016 Long-Term Infrastructure Improvement Plan are available for download on Flickr.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Nov. 30, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has energized a vital transmission line in Harrison and Doddridge counties, W.Va., that both supports the electric demands of the area's Marcellus Shale gas industry and helps enhance service reliability for nearly 13,000 Mon Power customers in the Clarksburg and Salem areas.
The $98 million transmission line is supported by 80 steel structures along an 18-mile corridor linking transmission substations in the Clarksburg and Sherwood areas. The line route parallels an existing FirstEnergy transmission line for about 11 miles north of U.S. Route 50.
Crews placed the new 138-kilovolt (kV) line in service about a month ago.
"As West Virginia's prominent shale gas industry continues its upward trajectory, FirstEnergy works diligently to keep pace with infrastructure enhancements such as this new transmission line," said Holly Kauffman, FirstEnergy's president of West Virginia Operations. "We are committed to supporting this important growth industry that consumes significant amounts of electricity to run compressor stations and midstream gas processing plants. Our upgrades to the region's electric grid also enhance service reliability, benefitting thousands of our longtime customers."
Anchoring both ends of the line are new or upgraded substation facilities. The substation near Clarksburg was expanded to accommodate new circuit breakers added to protect the new 138-kV line. The new substation near Sherwood, energized in 2014 at a cost of about $56 million, was primarily constructed to support the growing electrical needs of a nearby gas plant while also benefitting more than 6,000 Mon Power customers along the U.S. Route 50 corridor in Doddridge, Harrison and Ritchie counties with enhanced service reliability.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Visit FirstEnergy on the internet at www.firstenergycorp.com, and follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's new transmission line project in Harrison and Doddridge counties, W.Va., are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 30, 2016 /PRNewswire/ -- Holiday lights are a tradition that reaches back to the earliest days of electricity, and now is the most popular time for home decoration. FirstEnergy's (NYSE: FE) utilities hope everyone will enjoy this festive season while also remembering a few tips to help ensure the holidays remain safe.
Outdoor Lighting Safety
Indoor Lighting Safety
Additional holiday safety information is available at https://www.firstenergycorp.com/help/safety/using-electricity/holiday-decorating.html. For more details about keeping safe around electricity, local groups can request a presentation through the FirstEnergy Speakers Bureau. For more information, contact speakersbureau@firstenergycorp.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 29, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced its Bruce Mansfield Plant in Shippingport, Pa. will ship coal combustion residuals (CCRs) for reclamation of a site owned by the Marshall County Coal Company in Moundsville, W.Va. The Marshall County Coal Company is a subsidiary of Murray American Energy, Inc. The CCR materials will be placed at the site beginning in early December.
"Selection of this site means that 100 percent of the coal combustion residuals created at the Bruce Mansfield Plant will now be sustainably recycled or beneficially reused," said Don Moul, senior vice president, Fossil Operations and Environmental. "After thorough consideration, the company determined that this option provided the most environmentally sustainable and cost-effective solution."
Approximately 80 percent of Bruce Mansfield Plant's CCRs will be used for mine reclamation, while the remainder will continue to be recycled into drywall by National Gypsum at its production facility located in Shippingport.
The Moundsville site is already permitted by the West Virginia Department of Environmental Protection (WV DEP) to beneficially reuse CCRs. FirstEnergy plans to ship approximately four to five barges of material per day 77 miles to the facility, eliminating the need for truck transportation over local roads. Prior to shipment, excess moisture will be removed from the CCR materials at the Mansfield plant's newly constructed, $260 million dewatering facility. FirstEnergy currently places a portion of its CCR materials at the Little Blue Run disposal facility, which the company will no longer use beyond December 31, 2016.
CCRs are created through the combustion of coal and during the scrubbing process at coal-fired electricity generating plants, and are designated as a non-hazardous material by state and federal environmental protection authorities. West Virginia supports their beneficial reuse, and thousands of acres of former mines across the state have been successfully reclaimed under WV DEP's oversight.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 23, 2016 /PRNewswire/ -- The Illuminating Company invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at The Illuminating Company Facebook page (www.facebook.com/IlluminatingCo) from Nov. 28 until Dec. 18. Up to 10 finalists will be selected by The Illuminating Company based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Dec. 19 until Dec. 26.
The grand prize winner will receive a $250 Visa® gift card and the first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to The Illuminating Company Facebook page. The "Merry & Bright" contest is open only to The Illuminating Company customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, The Illuminating Company or its advertising agency are not eligible.
The Illuminating Company is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo, on Facebook at www.facebook.com/IlluminatingCo, and online at www.illuminatingcompany.com.
SOURCE FirstEnergy Corp.
ERIE, Pa., Nov. 23, 2016 /PRNewswire/ -- For the third year, Pennsylvania Electric Company (Penelec) invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at the Penelec Facebook page (www.facebook.com/PenelecElectric) from Nov. 28 until Dec. 18. Up to 10 finalists will be selected by Penelec based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Dec. 19 until Dec. 26.
The grand prize winner will receive a $250 Visa® gift card and the first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Penelec Facebook page. The "Merry & Bright" contest is open only to Penelec customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Penelec or its advertising agency are not eligible.
Photos of the winning entries from 2015 can be found on Flickr.
Penelec is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves approximately 600,000 customers in 31 Pennsylvania counties. Connect with Penelec on Twitter @Penelec, on Facebook at www.facebook.com/PenelecElectric, and online at www.penelec.com.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 23, 2016 /PRNewswire/ -- For the second year, West Penn Power Company (West Penn Power) invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at the West Penn Power Facebook page (www.facebook.com/WestPennPower) from Nov. 28 until Dec. 18. Up to 10 finalists will be selected by West Penn Power based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Dec. 19 until Dec. 26.
The grand prize winner will receive a $250 Visa® gift card and the first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the West Penn Power Facebook page. The "Merry & Bright" contest is open only to West Penn Power customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, West Penn Power or its advertising agency are not eligible.
Photos of the winning entries from 2015 can be found on Flickr.
West Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power, on Facebook at www.facebook.com/WestPennPower, and online at www.west-penn-power.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 23, 2016 /PRNewswire/ -- For the second year, Pennsylvania Power Company (Penn Power) invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at the Penn Power Facebook page (www.facebook.com/PennPower) from Nov. 28 until Dec. 18. Up to 10 finalists will be selected by Penn Power based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Dec. 19 until Dec. 26.
The grand prize winner will receive a $250 Visa® gift card and the first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Penn Power Facebook page. The "Merry & Bright" contest is open only to Penn Power customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Penn Power or its advertising agency are not eligible.
Photos of the winning entries from 2015 can be found on Flickr.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn_Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 23, 2016 /PRNewswire/ -- Ohio Edison invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at the Ohio Edison Facebook page (www.facebook.com/OhioEdison) from Nov. 28 until Dec. 18. Up to 10 finalists will be selected by Ohio Edison based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Dec. 19 until Dec. 26.
The grand prize winner will receive a $250 Visa® gift card and the first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Ohio Edison Facebook page. The "Merry & Bright" contest is open only to Ohio Edison customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Ohio Edison or its advertising agency are not eligible.
Ohio Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison, on Facebook at www.facebook.com/OhioEdison, and online at www.ohioedison.com.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Nov. 23, 2016 /PRNewswire/ -- Toledo Edison invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at the Toledo Edison Facebook page (www.facebook.com/ToledoEdison) from Nov. 28 until Dec. 18. Up to 10 finalists will be selected by Toledo Edison based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Dec. 19 until Dec. 26.
The grand prize winner will receive a $250 Visa® gift card and the first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Toledo Edison Facebook page. The "Merry & Bright" contest is open only to Toledo Edison customers who are legal residents of Ohio and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Toledo Edison or its advertising agency are not eligible.
Toledo Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison, on Facebook at www.facebook.com/ToledoEdison, or online at www.toledoedison.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 23, 2016 /PRNewswire/ -- For the fourth year, Jersey Central Power & Light (JCP&L) invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at the JCP&L Facebook page (www.facebook.com/JCPandL) from Nov. 28 until Dec. 18. Up to 10 finalists will be selected by JCP&L based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Dec. 19 until Dec. 26.
The grand prize winner will receive a $250 Visa® gift card and the first prize winner will receive a $100 gift card.
For more information, including complete contest rules, visit the JCP&L Facebook page. The "Merry & Bright" contest is open only to JCP&L customers who are legal residents of New Jersey and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, JCP&L or its advertising agency are not eligible.
Photos of the winning entries from 2015 can be found on Flickr.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
READING, Pa., Nov. 23, 2016 /PRNewswire/ -- For the fourth year, Metropolitan Edison Company (Met-Ed) invites customers to show off their best and brightest outdoor holiday light displays by entering its "Merry & Bright" Holiday Lights Photo Contest.
Participants can enter by submitting a photo of their home's outdoor holiday lights at the Met-Ed Facebook page (www.facebook.com/MetEdElectric) from Nov. 28 until Dec. 18. Up to 10 finalists will be selected by Met-Ed based on criteria such as creativity and number of lights. Finalists' photos will be posted on Facebook for public voting from Dec. 19 until Dec. 26.
The grand prize winner will receive a $250 Visa® gift card and the first prize winner will receive a $100 gift card.
More information, including complete contest rules, will be posted to the Met-Ed Facebook page. The "Merry & Bright" contest is open only to Met-Ed customers who are legal residents of Pennsylvania and who are at least 18 years of age. Only one entry per household will be accepted. Employees and family members of FirstEnergy, Met-Ed or its advertising agency are not eligible.
Photos of the winning entries from 2015 can be found on Flickr.
Met-Ed is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves approximately 560,000 customers in 15 Pennsylvania counties. Connect with Met-Ed on Twitter @Met_Ed, on Facebook at www.facebook.com/MetEdElectric, and online at www.met-ed.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 21, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is conducting thermovision inspections on 355 distribution circuits across northern and central New Jersey.
JCP&L employees use thermographic cameras to detect potential problems on wires and other electrical equipment that cannot be observed during regular visual inspections. The high-tech cameras are used to capture infrared images of distribution lines exiting substations and fuses located on poles. The images are downloaded to a computer and reviewed. The infrared technology shows heat on a color scale, with brighter or "hot spots" indicating areas that could need repairs. Overall, 2,100 line miles will be inspected as part of this process.
JCP&L conducts thermovision inspections on all of its circuits on a four-year cycle. The inspections are part of JCP&L's previously announced plans to invest $387 million in 2016 to help enhance service and maintain a strong electrical system.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos of a thermovision inspection are available for download on Flickr.
SOURCE FirstEnergy Corp.
ERIE, Pa., Nov. 21, 2016 /PRNewswire/ -- Pennsylvania Electric Company (Penelec) is completing work on approximately $11 million of electric system projects as part of its 2016 Long-Term Infrastructure Improvement Plan, a program specifically designed to reduce the number and duration of potential power outages experienced by the company's 600,000 customers.
The projects include installing enhanced protective devices on wires and poles, replacing or rehabilitating electric lines, adding other special equipment, and installing automated and remote control devices.
"These projects benefit customers by complementing the work we already do each year to enhance the reliability of our electric system," said Scott Wyman, regional president of Penelec. "Our goal is to make our system the best it can be when it comes to limiting the number of outages our customers experience."
Penelec's Long-Term Infrastructure Improvement Plan was approved earlier this year by the Pennsylvania Public Utility Commission. Ultimately, this five-year program will result in an additional $56 million being spent in the Penelec area through 2020 on targeted distribution infrastructure enhancement projects to enhance service reliability.
Projects completed this year in the Penelec service area include:
In 2017, Penelec is expected to spend an additional $11 million on similar Long-Term Infrastructure Improvement Plan projects.
Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 18, 2016 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed equipment upgrades at a substation in Jefferson County, West Virginia, to enhance service reliability and help meet high winter demand for electricity for about 2,200 customers in the Ranson and Charles Town areas.
The centerpiece of the $1 million project was replacing one of the substation's two distribution transformers with a larger unit, which increased the system's capacity without having to expand the substation's footprint or build new power lines. Completed in October, the substation upgrade also included replacing existing fuses with a new circuit breaker to safeguard the new transformer when irregularities are detected on the electric system.
"Expanding the capacity of this substation was needed because this area of Jefferson County often experiences increased electric usage in the winter due to most customers heating their homes with electricity," said James A. Sears, Jr., vice president of Potomac Edison. "The transformers in our substation were operating at or near their capacities, so this new equipment is a welcome upgrade that will help our customers stay warm in the winter, enhance their service reliability, and position our system to meet the demands of a growing area."
Substation construction crews used a heavy-duty crane to remove the old transformer through a temporary opening in the substation fence to avoid nearby power lines. After weeks of preparation work, the transformer contractor placed the new transformer into place on its pad. The new transformer measures about 19 feet long by 12 feet wide by 12 feet tall, and weighs more than 83,000 pounds.
The project is one of numerous distribution and transmission infrastructure projects totaling $128 million that FirstEnergy Corp. expects to complete in 2016 for the Potomac Edison service area.
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of the new transformer near Potomac Edison's substation near Ranson, W.Va. are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 15, 2016 /PRNewswire/ -- Across the country, con artists continue using scare tactics in an effort to steal money and personal information from utility customers. As part of FirstEnergy Corp.'s (NYSE: FE) ongoing efforts to raise awareness about this continuing problem, the company is joining more than two dozen electric and gas utilities across the United States and Canada to recognize November 16 as "Utilities United Against Scams Day."
"We take our customers' safety and security very seriously," said Gary W. Grant, vice president of customer service for FirstEnergy Utilities. "Through our website, social media outreach, newsletters and participation in industry efforts such as Utilities United Against Scams Day, we continue working to educate customers about scam activity and help them avoid falling victim to con artists who are posing as representatives of our company."
Scam artists impersonating utility company employees have targeted victims through door-to-door visits, phone calls, and electronic communications. The criminals often try to instill fear that power will be disconnected if the victim does not comply with the demands. Customers have reported the theft of money, personal data and valuables.
FirstEnergy's award-winning Scam and Fraud Information website describes some of the most widespread schemes targeting utility customers, and offers facts and safety reminders that can help customers avoid becoming a victim of these crimes.
Scams listed on the site include:
"Customers who have questions about their account status or the identity of someone who claims to be one of our employees should immediately call our customer contact centers," Grant said. "We also urge customers to report any suspicious activity to the police, and to let us know if they believe they have been targeted by a scam."
Customers are encouraged to share this information with friends and family to continue raising awareness of these crimes, and to revisit the Scam and Fraud Information page on FirstEnergy's website periodically to check for updates on emerging scam activity.
In addition to understanding how criminals target their victims, the website offers reminders to help ensure customer safety and security, including:
Utility Company Customer Service Numbers: | |
Ohio Edison |
1-800-633-4766 |
The Illuminating Company |
1-800-589-3101 |
Toledo Edison |
1-800-447-3333 |
Met-Ed |
1-800-545-7741 |
Penelec |
1-800-545-7741 |
Penn Power |
1-800-720-3600 |
West Penn Power |
1-800-686-0021 |
Jersey Central Power & Light |
1-800-662-3115 |
Mon Power |
1-800-686-0022 |
Potomac Edison |
1-800-686-0011 |
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Nov. 14, 2016 /PRNewswire/ -- As part of ongoing efforts to modernize its electric system, Jersey Central Power & Light (JCP&L) has installed new state-of-the-art equipment at a substation in East Windsor that will help enhance service reliability for several thousand customers in the Mercer County area.
The $500,000 project included installing a massive 5-ton, 15-foot tall circuit breaker, a disconnection switch and other equipment. With lower maintenance costs and enhanced operability in hot and cold weather, the new gas-filled breakers are an upgrade from the previous oil-filled equipment. Circuit breakers in substations are protective devices designed to "break" the flow of electricity from one electrical circuit to another.
"The new breakers provide additional protection for the substation and allows circuits to be switched quickly should an interruption occur," said Anthony Hurley, JCP&L vice president of Operations. "The project strengthens the transmission system and supports the distribution and delivery of electricity to Mercer County residents and businesses."
This project is part of JCP&L's previously announced $387 million infrastructure investment in 2016 and is one of several included in JCP&L's "Energizing the Future" initiative to expand and enhance its transmission system in northern and central New Jersey to provide better service reliability for customers.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L and Facebook at www.facebook.com/JCPandL.
Editor's Note: Photos of the new breaker and disconnect switch are available for download on Flickr.
SOURCE FirstEnergy Corp.
FAIRMONT, W. Va., Nov. 11, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) subsidiary Mon Power today announced it has initiated a review of its ownership stake in the Bath County Pumped Storage Project located in Warm Springs, Virginia. The review is driven by recent changes in the PJM capacity market which in the future are expected to reduce sharply Mon Power's capacity revenues from the facility. There is no assurance that this review by Mon Power will result in any alternatives being announced or consummated.
Mon Power has an indirect 487-megawatt (MW) ownership interest in the pumped storage hydroelectric generating station which consists of two large reservoirs and a powerhouse interconnected by tunnels. Virginia Electric and Power Company, a subsidiary of Dominion Resources, Inc., is the majority owner of the station and manages its operation.
PJM's new capacity rule reduces the value of pumped storage generation stations because they cannot produce electricity continuously during all hours of the day. Under the new rules, Bath's capacity revenues for Mon Power will be reduced by about half.
PJM is the regional transmission operator that operates a competitive wholesale electricity market and manages the electric transmission grid in all or parts of 13 states and the District of Columbia to help ensure reliability for more than 61 million people.
Capacity is the commitment of generation or other resources to be available to provide electricity in the future, particularly when demand surges during extreme cold snaps or heat waves.
Mon Power supplies electricity to both its 385,500 customers and 137,000 Potomac Edison customers in the state's Eastern Panhandle. FirstEnergy is committed to supplying its West Virginia customers with a supply of safe, reliable, cost-effective electricity for years to come.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Nov. 10, 2016 /PRNewswire/ -- Mon Power, a FirstEnergy Corp. (NYSE: FE) utility, has inspected nearly 23,000 wooden utility poles this year for signs of wear, insect infestation or damage from motor vehicle accidents as part of the company's annual inspection program. The company expects to replace or repair about 320 wooden utility poles this year, which would stretch nearly 2.5 miles if laid end to end.
A standard 40-foot wooden distribution pole typically is expected to last more than 50 years. The most common utility pole is made from a Southern Yellow Pine tree and costs about $400. Mon Power will spend about $1.4 million to inspect, replace and repair utility poles in 2016.
"Mon Power's pole inspection and replacement program is designed to help enhance service reliability for our customers," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "While certainly durable, these poles are subject to damage from severe weather, falling trees, and traffic accidents. Mon Power's utility poles are vital to the delivery of electricity to homes and businesses in our service area. Over time, some poles need to be replaced or repaired to help ensure reliable operations."
Typically, specialized contractors perform the pole inspections. As part of the process, a visual inspection is completed, along with checking the pole to determine if the interior is sound. Poles also can be reinforced rather than replaced. One of the most common reinforcement techniques is to snug a C-shaped steel beam against the pole, jackhammer the beam into the ground, and secure it to the pole with tight, metal bands.
All wood poles throughout the 34-county Mon Power service territory are inspected on a 12-year cycle. Inspections began in January and continued through the summer, with pole replacements and repairs scheduled to be completed during the fall.
Year-to-date, Mon Power has inspected nearly 23,000 wooden poles in and around the following communities:
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV. Visit FirstEnergy on the web at www.firstenergycorp.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Nov. 10, 2016 /PRNewswire/ -- Potomac Edison, a FirstEnergy Corp. (NYSE: FE) utility, has inspected more than 21,000 wooden utility poles this year for signs of wear, insect infestation or damage from motor vehicle accidents as part of the company's annual inspection program. As a result of the inspections, the company expects to replace or repair about 520 wooden utility poles this year, which would stretch about four miles if laid end to end.
A standard 40-foot wooden distribution pole typically is expected to last more than 50 years. The most common utility pole is made from a Southern Yellow Pine tree and costs about $400. Potomac Edison will spend about $2 million to inspect, replace and repair utility poles in 2016.
"Potomac Edison's pole inspection and replacement program is designed to help enhance service reliability for our customers," said James A. Sears, Jr., vice president of Potomac Edison. "While certainly durable, these poles are subject to damage from severe weather, falling trees, and traffic accidents. Potomac Edison's utility poles are vital to the delivery of electricity to homes and businesses in our service area. Over time, some poles need to be replaced or repaired to help ensure reliable operations."
Typically, specialized contractors perform the pole inspections. As part of the process, a visual inspection is completed, along with checking the pole to determine if the interior is sound. Poles also can be reinforced rather than replaced. One of the most common reinforcement techniques is to snug a C-shaped steel beam against the pole, jackhammer the beam into the ground, and secure it to the pole with tight, metal bands.
All wood poles in Potomac Edison's service territory are inspected on a 10-year cycle in Maryland, and on a 12-year cycle in West Virginia. Inspections began in January and continued through the summer, with pole replacements and repairs scheduled to be completed during the fall.
Year-to-date, Potomac Edison has inspected more than 21,000 wooden poles in and around the following communities:
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Nov. 10, 2016 /PRNewswire/ -- West Penn Power, a FirstEnergy Corp. (NYSE: FE) utility, will inspect about 30,400 wooden utility poles this year for signs of wear, insect infestation or damage from motor vehicle accidents as part of the company's annual inspection program. As a result of the inspections, the company expects to replace or repair 370 wooden utility poles this year, which would stretch about three miles if laid end to end.
A standard 40-foot wooden distribution pole typically is expected to last more than 50 years. The most common utility pole is made from a Southern Yellow Pine tree and costs about $400. West Penn Power will spend more than $1.6 million to inspect, replace and repair utility poles in 2016.
"West Penn Power's pole inspection and replacement program is designed to help enhance service reliability for our customers," said David W. McDonald, president of West Penn Power. "While certainly durable, these poles are subject to damage from severe weather, falling trees, and traffic accidents. West Penn Power's utility poles are vital to the delivery of electricity to homes and businesses in our service area. Over time, some poles need to be replaced or repaired to help ensure reliable operations."
Typically, specialized contractors perform the pole inspections. As part of the process, a visual inspection is completed, along with checking the pole to determine if the interior is sound. Poles also can be reinforced rather than replaced. One of the most common reinforcement techniques is to snug a C-shaped steel beam against the pole, jackhammer the beam into the ground, and secure it to the pole with tight, metal bands.
All wood poles throughout the 24-county West Penn Power service territory are inspected on a 12-year cycle. Inspections began in January and continued through the summer, with pole replacements and repairs scheduled to be completed during the fall.
West Penn Power has inspected about 30,425 wooden poles in and around the following communities:
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 4, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported third quarter 2016 GAAP earnings of $380 million, or $0.89 per basic and diluted share of common stock, on revenue of $3.9 billion. Operating (non-GAAP) earnings* for the third quarter of 2016 were $0.90 per basic share of common stock.
These results compare to third quarter of 2015 GAAP earnings of $395 million, or $0.94 per basic share of common stock ($0.93 diluted), on revenue of $4.1 billion. Operating (non-GAAP) earnings for the third quarter of 2015 were $0.98 per basic share of common stock.
"Our results for the third quarter exceeded our expectations due to the impact of record summer temperatures on our distribution business, as well as solid operations across each of our business segments," said Charles E. Jones, FirstEnergy president and chief executive officer. "We also continue to make solid progress on our regulated growth strategies that are designed to provide predictable and customer-service oriented growth."
FirstEnergy reported that it expects a GAAP loss of $(1.30) to $(0.90) per basic share for the full year of 2016, from its previous range of $(0.75) to $(0.55) per basic share. The loss primarily reflects asset impairment and plant exit costs recognized in the second quarter and an estimated charge of $0.45 to $0.75 per basic share associated with the company's annual pension and OPEB mark-to-market adjustment.
The company also raised and narrowed its operating (non-GAAP) earnings guidance for the full year of 2016 to $2.60 to $2.70 per basic share, from the previous range of $2.40 to $2.60 per basic share. This estimate includes up to $500 million of additional equity anticipated by year end.
In FirstEnergy's Regulated Distribution business, warmer summer temperatures drove an increase in third quarter 2016 earnings, offsetting higher pension and OPEB expenses and higher general taxes.
The record-high temperatures contributed to a nearly 7 percent increase in total distribution deliveries compared to the third quarter of 2015. Residential deliveries increased nearly 13 percent, while commercial deliveries rose by nearly 5 percent. Sales to industrial customers increased more than 2 percent compared to the third quarter of 2015 as a result of increased demand in several key sectors.
In the company's Regulated Transmission business, third quarter earnings increased as a result of continued investments in ATSI and TrAIL as part of FirstEnergy's Energizing the Future transmission program.
In the Competitive Energy Services segment, third quarter commodity margin decreased compared to the prior year period due to lower contract sales volume, consistent with the company's expectations, and lower capacity revenues reflecting lower capacity prices that went into effect in June 2016. Lower capacity expense and purchased power costs, as well as lower fuel costs, transmission costs and higher wholesale sales, benefited commodity margin. Partially offsetting the decline in commodity margin were lower expenses and higher investment income in the third quarter of 2016 as compared to the prior-year period.
The company's third quarter 2016 earnings were also impacted by a higher consolidated effective income tax rate.
On a GAAP basis, FirstEnergy reported a net loss of $(381) million for the first nine months of 2016, or $(0.90) per basic and diluted share of common stock on revenue of $11.2 billion. This compares to earnings of $804 million for the first nine months of 2015, or $1.91 per basic share of common stock, $1.90 on a diluted basis, on revenue of $11.5 billion. Operating (non-GAAP) earnings were $2.25 per basic share of common stock in the first nine months of 2016, and $2.13 per basic share of common stock for the same period in 2015.
Results for the first nine months of 2016 decreased as a result of the second quarter asset impairment and plant exit costs in the company's competitive business, as well as higher benefit expenses, depreciation and taxes compared to the same period of 2015. These factors offset stronger year-to-date results in the Regulated Distribution business primarily related to rate cases approved in 2015, the impact of a higher rate base and forward-looking rate structure in the Regulated Transmission business, improved commodity margin in the Competitive Energy Services business and lower operating expenses.
Consolidated GAAP EPS to Operating (Non-GAAP) EPS* Reconciliation |
|||||||||||||
Estimate |
|||||||||||||
Third Quarter |
Year-To-Date |
Full Year |
|||||||||||
2016 |
2015 |
2016 |
2015 |
2016 |
|||||||||
Basic Earnings (Loss) Per Share (GAAP) |
$0.89 |
$0.94 |
$(0.90) |
$1.91 |
$(1.30) - $(0.90) |
||||||||
Excluding Special Items*: |
|||||||||||||
Regulatory charges |
0.02 |
0.01 |
0.12 |
0.05 |
0.13 |
||||||||
Trust securities impairment |
— |
0.07 |
0.02 |
0.11 |
0.02 |
||||||||
Merger accounting – commodity contracts |
0.01 |
0.02 |
0.04 |
0.05 |
0.05 |
||||||||
Asset impairment/Plant exit costs |
— |
— |
2.99 |
0.04 |
2.97 |
||||||||
Mark-to-market adjustments |
|||||||||||||
Pension/OPEB actuarial assumptions1 |
— |
— |
— |
— |
0.45 – 0.75 |
||||||||
Other |
(0.02) |
(0.09) |
(0.02) |
(0.10) |
(0.02) |
||||||||
Impact of non-core asset sales/impairments |
— |
0.02 |
— |
0.05 |
— |
||||||||
Retail repositioning charges |
— |
0.01 |
— |
0.02 |
— |
||||||||
Total Special Items* |
0.01 |
0.04 |
3.15 |
0.22 |
3.60 – 3.90 |
||||||||
Basic EPS - Operating (Non-GAAP) |
$0.90 |
$0.98 |
$2.25 |
$2.13 |
$2.60 - $2.70 |
||||||||
1 Based on current discount rates ranging from 4.00% - 3.75% for Pension plans and 3.75% - 3.50% for OPEB plans and actual gains on plan assets through September 30, 2016 of 11%.
* Per share amounts for the special items above are based on the after-tax effect of each item, divided by the weighted average basic shares outstanding and includes the estimated dilutive impact of additional common stock in the fourth quarter of 2016. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount with the exception of Asset impairment/Plant exit costs that included an impairment of goodwill, of which $433 million of the $800 million pre-tax impairment was non-deductible for tax purposes, and valuation allowances against state and local NOL carryforwards of $159 million. With the exception of these items included in Asset impairment/Plant exit costs, the income tax rates range from 35% to 42%. |
|||||||||||||
Non-GAAP financial measures
*Operating earnings exclude special items as described herein, and is a non-GAAP financial measure. Management uses operating earnings and operating earnings by segment to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Management believes that the non-GAAP financial measure of "operating earnings" provides a consistent and comparable measure of performance of its business to help shareholders understand performance trends. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). This non-GAAP financial measure is intended to complement, and is not considered as an alternative to, the most directly comparable GAAP financial measure. Also, this non-GAAP financial measure may not be comparable to similarly titled measures used by other entities. Per share amounts for the special items above are based on the after-tax effect of each item divided by the weighted average shares outstanding for the period.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the third quarter and first nine months of the year, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on Third Quarter 2016 Consolidated Report to the Financial Community. Slides associated with the third quarter earnings call are also posted to the website.
The company invites investors, customers and other interested parties to listen to a live internet webcast of its teleconference for financial analysts at 10:00 a.m. EDT today. FirstEnergy management will present an overview of the company's financial results and discuss earnings guidance, followed by a question-and-answer session. The teleconference can be accessed on the company's website by selecting the Q3 2016 Earnings Conference Call link. The webcast will be archived on the website for up to one year.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the Competitive Energy Services (CES) segment, including FirstEnergy Solutions Corp. and its subsidiaries and FirstEnergy Nuclear Operating Company, related to continued depressed wholesale energy and capacity markets, and the viability and/or success of strategic business alternatives, such as potential CES generating unit asset sales, the potential conversion of the remaining generation fleet from competitive operations to a regulated or regulated-like construct or the potential need to deactivate additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of older regulated and competitive units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to significant accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; further actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, increase requirements to post additional collateral to support, or accelerate payments under outstanding commodity positions, letters of credit and other financial guarantees, and the impact of these events on the financial condition and liquidity of FirstEnergy and/or its subsidiaries, specifically the subsidiaries within the CES segment; the risks and uncertainties surrounding FirstEnergy's need to obtain waivers from its bank group under FirstEnergy's credit facilities caused by a debt to total capitalization ratio in excess of 65% resulting from impairment charges or other events at CES; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 3, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming and other vegetation management work in communities across Ohio Edison's 34-county service area in Ohio to maintain proper clearances around electrical equipment and help protect against tree-related outages.
Since the beginning of the year, contractors have trimmed trees along approximately 3,500 miles of distribution and transmission lines in the Ohio Edison service area as part of the company's $22.8 million vegetation management program for 2016, with an additional 600 miles expected to be completed by year-end.
"Tree trimming is one of the most important things we do every year to help maintain our electric system," said Randall A. Frame, regional president, Ohio Edison. "Whether it be maintaining distribution wires in tree-lined city neighborhoods, or keeping rural transmission line corridors free of incompatible trees and shrubs, our goal is to enhance service reliability for our customers by reducing the number of tree-related outages."
During the next several months, Ohio Edison will conduct tree trimming in the following communities: Akron, Ashland, Berlin Center, Blooming Grove, Boston Heights, Campbell, Choctaw Lake, Copley, Cuyahoga Falls, Deerfield, Edinburg, Ellsworth, Elyria, Essex, Franklin Township, Galion, Garrettsville, Green Camp, Hartville, Hills and Dales, Hubbard, Huron, Iberia, Kent, Lafayette, Leavitsburg, Liberty Township, London, Lorain, Lordstown, Magnetic Springs, Marion, Massillon, Medina, Meyers Lake, Milton Township, Montville, Newton Falls, North Canton, North Ridgeville, Peninsula, Plain City, Plumwood, Randolph, Ravenna Township, Richwood, Rootstown, Sandusky, Springfield, Wadsworth, Warren, Windham, York Center,
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company; Davey Tree Expert Company; Nelson Tree Service Inc.; PennLine Service, Townsend Tree Service; and Wright Tree Service.
As part of its notification process, Ohio Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The tree trimming is done on a four-year cycle. Vegetation is inspected and trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased may be removed.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Nov. 3, 2016 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across Toledo Edison's northwestern Ohio service area to maintain proper clearances around electrical equipment and help protect against tree-related outages.
Since the beginning of the year, contractors have trimmed trees along more than 2,000 miles of distribution and transmission lines in Toledo Edison's service area as part of the company's $7.2 million vegetation management program for 2016, with an additional 430 miles expected to be completed by year-end.
Toledo Edison has or will conduct tree trimming work in the following communities in 2016: Bowling Green, Defiance, Delta, Clyde, Fayette, Fremont, Gibsonburg, Holgate, Lyons, Maumee, Monclova, Napoleon, Ney, Oregon, Pemberville, Toledo, Weston, Whitehouse and Woodville.
"Tree trimming is a key component in our efforts to enhance customer service reliability," said Rich Sweeney, regional president of Toledo Edison. "In continuing this successful program, our goal is to reduce service interruptions by protecting our wires and other infrastructure from tree-related damage."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company; Nelson Tree; and Pennline Service.
As part of its notification process, Toledo Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The tree trimming is done on a four-year cycle. Vegetation is inspected and trees are pruned in a manner that helps preserve the health of the tree while also maintaining safety near electric facilities. Trees that are considered to present a danger or are diseased may be removed.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy on the web at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Nov. 3, 2016 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across The Illuminating Company's northeast Ohio service area to maintain proper clearances around electrical equipment and help protect against tree-related outages.
Since the beginning of the year, contractors have trimmed trees along more than 1,500 miles of distribution and transmission lines in The Illuminating Company service area as part of the company's more than $15 million vegetation management program for 2016, with an additional 500 miles expected to be completed by year-end.
During the next several months, The Illuminating Company will conduct tree trimming work in the following communities: Bay Village, Bedford, Cleveland, East Cleveland, Euclid, Fairport Harbor, Gates Mills, Geneva Township, Hambden Township, Hunting Valley, Kirtland, Madison Township, Mayfield Heights, Middlefield, Newburgh Heights, Parma, Waite Hill and Westlake.
"Tree trimming is a key component in our efforts to enhance customer service reliability," said John Skory, regional president, The Illuminating Company. "In continuing this successful program, our goal is to reduce service interruptions by protecting our wires and other infrastructure from tree-related damage."
The vegetation management work is conducted by certified forestry experts under the company's direction, including: Asplundh Tree Expert Company; Davey Tree Expert Company; Lewis Tree Service, Inc.; and Townsend Tree Service.
As part of its notification process, The Illuminating Company works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The tree trimming is done on a four-year cycle. Vegetation is inspected and trees are pruned in a manner that helps preserve the health of the tree while also maintaining safety near electric facilities. Trees that are considered to present a danger or are diseased may be removed.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy on the web at www.firstenergycorp.com and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of workers using bucket trucks to trim trees near FirstEnergy power lines are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 28, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that President and Chief Executive Officer Charles E. Jones will make a presentation to investors at the Edison Electric Institute Financial Conference on Tuesday, November 8, 2016. The presentation is scheduled to begin at approximately 10:15 a.m. EST.
Interested parties may listen to a live webcast of the presentation and view the company's slides associated with the event by visiting FirstEnergy's investor information website, www.firstenergycorp.com/ir, and clicking the Edison Electric Institute Financial Conference link. The company plans to post presentation slides and associated materials to its website after markets close on November 4, 2016. These materials will include 2017 guidance and other business targets.
The webcast and presentation will also be archived on FirstEnergy's website and available for replay for up to one year.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 27, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the third quarter and first nine months of 2016 before markets open on Friday, November 4. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT that day. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year. The company plans to post its third quarter Consolidated Report to the Financial Community to the investor section of the website before markets open on November 4.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 27, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) announced that it will relocate its central New Jersey regional headquarters next year to the Bell Works complex, at 101 Crawfords Corner Road, in Holmdel, N.J.
JCP&L has signed a 10-year lease agreement with Somerset Development to occupy 64,000 square feet in Building One at the four-building Bell Works. The lease at the current JCP&L regional headquarters in Red Bank expires next year.
Nearly 200 JCP&L engineering, corporate billing, human resources, senior management, outage restoration, and support staff employees will be relocated from the current Red Bank facility to Bell Works by early summer next year.
"This move keeps our jobs, tax dollars, and ancillary support services in Monmouth County," said Jim Fakult, JCP&L president. "After reviewing multiple locations, the Bell Works site best met our needs with its proximity to our current headquarters and accessibility to the Garden State Parkway. The new location offers the modern office space needed to help our employees perform their jobs at a high level on behalf of our customers."
A key component of the relocation effort will be moving JCP&L's central region dispatch office from the Red Bank facility to Holmdel. System operators and support staff monitor the electric system and dispatch line personnel or substation workers, as needed, to restore service interruptions for customers in Burlington, Mercer, Middlesex, Monmouth and Ocean counties.
"New Jersey's infrastructure and economy are powered in large part by JCP&L, and we're thrilled that they've found a new home at Bell Works," said Ralph Zucker, president of Somerset Development. "We hope this flexible, state-of-the-art workspace will provide an environment where JCP&L employees look forward to coming to work each day."
Bell Works, formerly Bell Labs, is Somerset Development's two-million-square-foot adaptive reuse initiative in Holmdel. Once the home of some of the most monumental technological innovations of the 20th century, Bell Works reimagines the historical building as a workplace of the future. Originally designed by renowned architect Eero Saarinen, including a timeless open-atrium scheme, the building served as an innovation headquarters for over 6,000 Bell Labs employees from 1962 to 2007. Today, it's being revived as a dynamic 'metroburb,' complete with a blossoming ecosystem of technology, traditional office, retail, dining and hospitality. For more information on Somerset Development go to www.SDNJ.com.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 25, 2016 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Beaver Valley Power Station Unit 1 in Shippingport, Pa., returned to service at 8:52 a.m. this morning following a September 24, 2016, shutdown for refueling and maintenance. The 939-megawatt plant is currently operating at approximately 25 percent power and is expected to reach full power in the next week.
While the unit was shut down, one-third of the plant's 157 fuel assemblies were exchanged. In addition, numerous inspections and preventive maintenance and improvement projects were completed to ensure continued safe and reliable operations, including examinations of the unit's reactor head, turbine, electrical generator and three steam generators.
Prior to the outage, Beaver Valley Unit 1 operated safely and reliably, generating more than 10.5 million megawatt hours of electricity since the completion of its last refueling in May 2015.
FirstEnergy Corp. is headquartered in Akron, Ohio. Its FENOC subsidiary also operates the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter: @BVPowerStation, @Perry_Plant, and @DavisBesse.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 21, 2016 /PRNewswire/ -- The FirstEnergy Foundation has donated $10,000 to the Cuyahoga County Public Library System to support the efforts of 22 Homework Centers in branches across Greater Cleveland. This after-school program helps thousands of at-risk children improve their grades and increase subject comprehension.
The Homework Centers are open after school, Monday through Thursday, from September through mid-May. Each center offers two daily programs that can accommodate up to 25 children each.
"The key to our economic future, both in northeast Ohio and at FirstEnergy, is to develop a well-educated workforce that's prepared to take on future challenges," said Dee Lowery, president of the FirstEnergy Foundation. "Helping our at-risk students to acclimate to school and focus on academic success through this program is a major part of assuring we continue to have a viable economy and workforce into the future."
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Oct. 20, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) celebrated "New Jersey Careers in Utilities Week" today with a demonstration event in Morristown for public officials showcasing the special training and equipment needed to help provide safe and reliable electric service to customers.
JCP&L President Jim Fakult and New Jersey Board of Public Utilities Commissioner Joseph Fiordaliso welcomed guests, including municipal officials and community leaders, to a company facility in Morristown.
Employees from JCP&L's line, substation and meter reading departments participated in skills demonstrations and displayed the equipment they use on a daily basis to safely perform their jobs. Several employees who graduated from JCP&L's Power Systems Institute Program, a workforce development partnership with Brookdale Community College and Raritan Valley Community College created to train line workers and substation personnel, also attended.
"Careers in Utilities Week offers an opportunity to raise awareness of the wide variety of jobs that are essential to providing safe and reliable utility service to New Jersey residents and businesses," said Commissioner Fiordaliso. "Many careers in the New Jersey utility sector offer stable employment, and with an estimated 50 percent retirement rate over the next five years, it is imperative that we begin to attract and train the workers of tomorrow to ensure reliable utility service in the future."
The event included:
"Even as our job market continues to evolve, what doesn't change is that JCP&L line workers and other support personnel always will be needed to ensure that electricity is delivered to customers in a safe and reliable manner," said JCP&L President Jim Fakult. "By supporting Careers in Utilities Week, we hope prospective employees realize that working for a utility is not just a job, but rather a rewarding career choice, with good benefits, that can be a great source of pride in the communities where they live."
During the event, Fakult announced that JCP&L's Power System Institute Program will be holding information sessions for prospective students for the fall 2017 program in November. The sessions will take place on Thursday, November 3, 2016, from 6-8 p.m. at Brookdale Community College, 765 Newman Springs Road, Lincroft, N.J.; and on Thursday, November 10, 2016, from 6-8 p.m. at Raritan Valley Community College, 118 Lamington Road, Branchburg, N.J. Tuition, required books, lab fees and special clothing and tools will be paid by JCP&L for qualifying students. Information about future enrollment in the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
Editor's Note: Photos of JCP&L's "New Jersey Careers in Utilities Week" event are available for download on Flickr.
SOURCE FirstEnergy Corp.
READING, Pa., Oct. 20, 2016 /PRNewswire/ -- To help enhance the reliability of its system, Metropolitan Edison Company (Met-Ed), a FirstEnergy Corp. (NYSE: FE) utility, has inspected more than 16,400 wooden utility poles this year for signs of wear, insect infestation or damage from motor vehicle accidents as part of the company's annual inspection program. As a result of the inspections, the company expects to replace or repair nearly 100 wooden utility poles this year, which would stretch nearly a mile if laid end to end.
A standard 40-foot wooden distribution pole typically is expected to last more than 50 years. The most common utility pole is made from a Southern Yellow Pine tree and costs about $400.
"Met-Ed's pole inspection and replacement program is designed to help enhance service reliability for our customers," said Ed Shuttleworth, regional president, Met-Ed. "While certainly durable, these poles are subject to damage from severe weather, falling trees, and traffic accidents. Met-Ed's 342,000 utility poles are vital to the delivery of electricity to homes and businesses in our service area. Over time, some poles need to be replaced or repaired to help ensure reliable operations."
Typically, specialized contractors perform the pole inspections. As part of the process, a visual inspection is completed, along with checking the pole to determine if the interior is sound. Poles also can be reinforced rather than replaced. One of the most common reinforcement techniques is to snug a C-shaped steel beam against the pole, jackhammer the beam into the ground, and secure it to the pole with tight, metal bands.
All wood poles throughout the 15-county Met-Ed service territory are inspected on a 12-year cycle. Inspections began in January and continued through summer, with the remaining pole replacements and repairs scheduled to be completed during the fall.
Year-to-date, Met-Ed has inspected more than 16,400 wooden poles in and around the following communities:
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., Oct. 20, 2016 /PRNewswire/ -- To help enhance the reliability of its system, Pennsylvania Electric Company (Penelec), a FirstEnergy Corp. (NYSE: FE) utility, expects to replace or repair more than 3,700 wooden utility poles this year as part of the company's annual inspection program. The poles would stretch about 28 miles if laid end to end.
Overall, Penelec crews have inspected more than 43,400 of its 493,000 wooden poles in 2016 for signs of wear, insect infestation or damage from motor vehicle accidents.
A standard 40-foot wooden distribution pole typically is expected to last more than 50 years. The most common utility pole is made from a Southern Yellow Pine tree and costs about $400.
"Penelec's utility poles are vital to the delivery of electricity to homes and businesses in our service area," said Scott Wyman, regional president, Penelec. "Our inspection and maintenance program for the poles is designed to help enhance service reliability for our customers. While certainly durable, these poles are subject to damage from severe weather, falling trees, and traffic accidents, and periodically need to be replaced or repaired."
Typically, specialized contractors perform the pole inspections. As part of the process, a visual inspection is completed, along with inspecting the pole to determine if the interior is sound. Poles also can be reinforced rather than replaced. One of the most common reinforcement techniques is to snug a C-shaped steel beam against the pole, jackhammer the beam into the ground, and secure it to the pole with tight, metal bands.
All wooden poles throughout the 31-county Penelec service territory are inspected on a 12-year cycle. Inspections began in January and continued through summer, with the remaining pole replacements and repairs scheduled to be completed during the fall.
Year-to-date, Penelec has inspected 43,448 wooden poles in and around the following communities:
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Oct. 19, 2016 /PRNewswire/ -- Construction has begun on a new FirstEnergy Corp. (NYSE: FE) transmission substation near Burgettstown, Pa., to help meet the increased electrical usage of the area's expanding Marcellus Shale gas industry. The project also will reinforce the regional transmission system which is expected to benefit more than 40,000 West Penn Power customers in Allegheny and Washington counties.
Budgeted at approximately $40 million, the project will support two natural gas processing facilities being developed in the area projected to use more electricity annually than approximately 100,000 homes.
Construction crews are building foundations and raising steel structures for the new substation located in Smith Township in Washington County, with part of the facility expected to be operational by the end of the year. The project also includes erecting a new transmission line to connect the new substation to an existing transmission line nearby.
Another key aspect of the project is the installation of specialized voltage-regulating equipment designed to respond to real-time electrical conditions, boosting or reducing voltage as needed to maintain consistent levels on the regional transmission network. Slated for completion in mid-2017, that work involves installing capacitor banks, circuit breakers, communications equipment, a modular control building and two large transformers manufactured in Wisconsin that each weigh nearly 280,000 pounds.
"FirstEnergy's infrastructure enhancements continue to help support natural gas activity in Western Pennsylvania, said David W. McDonald, regional president of West Penn Power. "This project also will benefit existing customers by providing additional capacity and voltage support to our regional transmission network, especially commercial and industrial customers using specialized equipment sensitive to voltage fluctuations."
The project is part of FirstEnergy's plans to invest more than $200 million in 2016 in the West Penn Power area to help enhance service reliability. Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate, will build and own the new substation.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of work being done on the new FirstEnergy substation project in Washington County, Pa., are available for download on Flickr.
SOURCE FirstEnergy Corp.
READING, Pa., Oct. 17, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Pennsylvania utilities filed distribution rate case settlement agreements on October 14, 2016, with the Pennsylvania Public Utility Commission (PPUC) aimed at enhancing electric service reliability for more than two million customers across the state.
FirstEnergy's Pennsylvania utilities include Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power Company (Penn Power), and West Penn Power Company (West Penn Power).
The proposed rate plans for each utility are expected to benefit customers by continuing FirstEnergy's service reliability enhancement efforts in Pennsylvania, including circuit and substation upgrades, pole replacements, additional vegetation management, and equipment inspections. The settlement agreements also include continued assistance for providing service to low-income customers, which is about $95.3 million annually.
Parties to the settlements include the Office of Consumer Advocate, the Office of Small Business Advocate, the Bureau of Investigation and Enforcement, the West Penn Power Industrial Intervenors, the Penelec Industrial Customer Alliance, the Met-Ed Industrial Users Group, The Pennsylvania State University, the Coalition for Affordable Utility Services and Energy Efficiency in Pennsylvania, Wal-Mart Stores East, LP and Sam's East, Inc., North America Hoganas Holdings, Inc., and AK Steel Corporation.
"We appreciate the hard work and compromise of all the parties in reaching settlement agreements for Met-Ed, Penelec, Penn Power and West Penn Power," said Linda Moss, president of FirstEnergy's Pennsylvania operations. "The terms of the settlements will provide us the resources and technology necessary to continue improving our infrastructure to help ensure continued safe and reliable electric service for our customers."
If approved by the PPUC, the settlement agreements would result in the following increases for residential customers using 1,000 kilowatt-hours a month:
PPUC final orders on the agreements and new rates for each FirstEnergy utility are expected to be issued on or before January 26, 2017. The utilities would not file for additional distribution base rate increases in Pennsylvania until January 2019 at the earliest, according to the settlement agreements.
Met-Ed serves about 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric. Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric. Penn Power serves approximately 163,000 customers within 1,100 square miles of western Pennsylvania. Follow Penn Power on Twitter @Penn Power, and on Facebook at www.facebook.com/PennPower. West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 12, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison – today announced that the Public Utilities Commission of Ohio (PUCO) has approved modifications to Powering Ohio's Progress, the companies' comprehensive Electric Security Plan (ESP) originally approved in March.
The PUCO order authorizes the companies to collect approximately $204 million per year over a three-year term. The charge is expected to result in a $3 increase on monthly bills, or about three percent, for a typical residential customer using 750 kilowatt-hours per month. With the new charge, total monthly bills for FirstEnergy's residential customers are expected to be lower than they were a year ago and remain among the lowest in the state.
"Today's decision is disappointing for our customers," said Charles E. Jones, FirstEnergy President and Chief Executive Officer. "While we clearly demonstrated to the PUCO what is essential to ensure reliability for customers in the future, the amount granted is insufficient to cover the necessary and costly investments. The decision also fails to recognize the significant challenges that threaten Ohio utilities' ability to effectively operate."
The company is evaluating the Commission's order and considering next steps.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 7, 2016 /PRNewswire/ -- As part of its long-standing tradition of assisting other electric companies during large-scale power outages, FirstEnergy Corp. (NYSE: FE) utilities have sent 390 linemen, damage assessors, forestry crews and support personnel to Lake City, Florida, to help Florida Power & Light with restoration efforts following Hurricane Matthew. Crews began leaving for Florida on Thursday, with all expected to arrive at the Lake City staging area by Saturday.
Current forecasts call for Hurricane Matthew to make landfall in Florida today before moving up the coast through Saturday. Hundreds of thousands of customers have already lost power, and personnel will be deployed to the most damaged areas when it's safe to do so after the storm moves through.
Nine of FirstEnergy's utilities are part of the mutual assistance effort, which includes crews from Ohio Edison, The Illuminating Company (CEI) and Toledo Edison in Ohio; Penelec, West Penn Power and Met-Ed in Pennsylvania; Mon Power in West Virginia; Potomac Edison in West Virginia and Maryland; and Jersey Central Power & Light in New Jersey. Support personnel from FirstEnergy's corporate offices also are included in the company's contingent.
"FirstEnergy employees are committed to assisting what is likely to be a massive power restoration effort in Florida," said Steven Strah, senior vice president and president of FirstEnergy Utilities. "While it's not expected that Hurricane Matthew will impact any FirstEnergy service territories, we have carefully assessed conditions and are confident we have the personnel in place to maintain reliable operations for our customers."
FirstEnergy is a member of multiple electric utility mutual-assistance groups that work cooperatively to restore service to customers when a natural disaster causes large-scale power outages. Mutual assistance allows utilities to pool their resources to help restore power to customers faster. In the past, FirstEnergy and its employees have been honored by the Edison Electric Institute (EEI) with its "Emergency Assistance Award" for the mutual assistance the company has provided during winter and summer storms.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Oct. 6, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is rebuilding a 13.3-mile section of an existing 138-kilovolt (kV) transmission line connecting substations in Fayette and Lyons to help enhance service reliability for more than 18,000 Toledo Edison customers in Fulton County.
The $16.5 million project includes replacing 334 poles in the existing right-of-way, along with stringing more than 13 miles of new wire. A remote control switching device also will be installed on the new section, which allows grid operators to assess operational conditions more quickly, reducing the length and frequency of service disruptions.
The rebuilt transmission line is scheduled to be operational by the end of 2016. The new poles also will accommodate a second 138-kV transmission line for future load growth, as needed.
"This transmission project will benefit customers now, while also enabling our system to handle additional load growth in the future," said Rich Sweeney, regional president of Toledo Edison. "When completed, the rebuilt power line and remote-control equipment will help enhance service reliability in the region by strengthening the grid and increasing the flexibility and redundancy of our system."
The project is one of numerous distribution and transmission infrastructure projects totaling approximately $115 million that FirstEnergy has planned in 2016 for the Toledo Edison service area.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of work to rebuild this transmission line in northern Fulton County are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Oct. 5, 2016 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has initiated a special program in its Maryland service area to proactively remove thousands of ash trees damaged by the emerald ash borer located near power lines and other equipment to help prevent electric service interruptions and enhance system reliability for customers.
Tree crews have taken down about 3,300 dead and dying ash trees in Potomac Edison's Maryland service territory so far this year, with plans to remove 1,700 more in 2016 at a total cost of about $750,000.
Ash tree removal is part of Potomac Edison's $36 million vegetation management program for 2016, which includes plans to trim trees and control vegetation to help maintain proper clearances along nearly 3,000 miles of distribution and transmission lines throughout the company's service area.
"Ash trees pose a growing risk to our electric system as they quickly succumb to the emerald ash borer and have the potential to fall and damage our power lines, utility poles and other equipment," said James A. Sears, Jr., president of FirstEnergy's Maryland Operations and vice president of Potomac Edison. "We are addressing this problem proactively and aggressively by removing the damaged ash trees before they disrupt electric service to our customers."
First confirmed in the U.S. in Michigan in 2002, the invasive emerald ash borer originated in Asia and has decimated millions of trees in more than 20 states.
Potomac Edison is or will be conducting tree trimming and ash tree removals in the following counties and communities before the end of the year:
As part of its notification process, Potomac Edison works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
Tree trimming is done on a five-year cycle in Maryland and West Virginia. Vegetation is inspected and trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. In some cases, trees that are considered to present a danger or are diseased may be removed.
The vegetation management work is conducted by certified forestry experts under the company's direction, including Asplundh Tree Expert Company, Jaflo, Inc., Nelson Tree Service and Wright Tree Service.
To learn more about FirstEnergy's tree trimming and vegetation management programs go to www.firstenergycorp.com/trees.
Potomac Edison serves about 260,000 customers in seven Maryland counties and 138,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of tree crews removing dead and dying ash trees are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Oct. 3, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced a Request for Proposal (RFP) to purchase both Ohio-compliant Solar Renewable Energy Credits (SRECs) and Renewable Energy Credits (RECs) for its Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison. The purchases will help meet the Companies' 2016 renewable energy targets established under Ohio's alternative energy law.
SRECs and RECs sought in this RFP must be able to be utilized by the Companies for compliance with its 2016 renewable energy obligations in accordance with rules and procedures put forth by the Public Utilities Commission of Ohio (PUCO), be deliverable through PJM-EIS GATS, and generated between January 1, 2014, and December 31, 2016. The following amounts are being sought:
One SREC represents the environmental attributes of one megawatt hour of generation from a solar renewable generating facility qualified by the PUCO. One REC represents the environmental attributes of one megawatt hour of generation from a PUCO-qualified renewable generating facility. The cost of the RECs is recovered from utility customers through a monthly charge filed quarterly with the PUCO.
No energy or capacity will be purchased under the RFP. The number of individual bidders is not limited. Participants in the RFP must meet and maintain specific credit and security qualifications, and must be able to prove their SREC or REC generating facilities are certified or in the process of becoming certified by the PUCO.
The RFP is a competitive process managed by Navigant Consulting, Inc., an independent evaluator and a global consulting firm with expertise in energy markets, renewables and competitive procurements. Based on the RFP results, the Ohio utilities will enter into agreement(s) with winning suppliers to purchase the necessary quantities of RECs and SRECs.
The FirstEnergy Ohio utilities have established a website to provide bidders with a central source of documents, data and other information for the RFP process. This information is available by accessing www.FEOhioRECRFP.com.
On October 6, 2016, at 11:00 a.m. Eastern Prevailing Time (EPT), the FirstEnergy Ohio utilities and their consultant, Navigant, will conduct a webinar to outline the RFP process and the terms of the agreement, as well as to provide a forum to submit any questions. Questions also may be submitted during the RFP process directly through the RFP website.
To participate in the RFP, potential bidders are encouraged to submit credit applications by October 31, 2016, and proposals are due November 7, 2016 by 5 p.m. EPT.
The RFP Manager is Dan Bradley, Managing Director, Navigant Consulting, Inc. He can be reached via e-mail at manager@FEOhioRECRFP.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Sept. 29, 2016 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), is proactively removing thousands of ash trees damaged by the emerald ash borer located near power lines and other equipment to help prevent electric service interruptions and enhance system reliability for customers.
Tree crews have taken down nearly 16,000 dead and dying ash trees at a cost of nearly $2 million in the Mon Power service area so far this year.
Ash tree removal is part of Mon Power's overall $63 million enhanced vegetation management program for 2016, which includes plans to trim trees and control vegetation to help maintain proper clearances along nearly 4,400 miles of distribution and transmission lines throughout the company's service area, with nearly 2,800 miles completed year-to-date.
"Ash trees pose a growing risk to our electric system as they quickly succumb to the emerald ash borer and have the potential to fall and damage our power lines, utility poles and other equipment," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "We are addressing this problem proactively and aggressively by removing the damaged ash trees before they disrupt electric service to our customers."
While ash borers are killing trees throughout the state, the Clarksburg, Fairlea, Gassaway, Parkersburg, Sutton, Weirton and White Hall regions have been particularly hard hit. First confirmed in the U.S. in Michigan in 2002, the invasive emerald ash borer originated in Asia and has decimated millions of trees in more than 20 states.
In 2014, Mon Power launched its enhanced tree trimming program that focuses on controlling vegetation near distribution lines in rural areas and along transmission lines to enhance service reliability. Power line right-of-ways are trimmed ground to sky, which helps eliminate the risk of overhanging limbs falling onto wires and and causing outages. Cleared right-of-ways provide easier access for line workers to make repairs and restore power, shortening the duration of outages when they do occur.
Mon Power is or will be conducting tree trimming and ash tree removal in the following counties and communities before the end of the year:
As part of its notification process, Mon Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
Forestry crews use hand-operated tools, saws, mowers, aerial helicopter saws and EPA-approved herbicide applications to trim trees and maintain vegetation along FirstEnergy's distribution and transmission networks. Clearing incompatible vegetation under power lines results in easier access for company personnel to inspect and maintain lines and make repairs sooner if an outage occurs.
To learn more about FirstEnergy's tree trimming and vegetation management programs go to www.firstenergycorp.com/trees.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of tree crews removing dead and dying ash trees are available for download on Flickr.
SOURCE FirstEnergy Corp.
READING, Pa., Sept. 27, 2016 /PRNewswire/ -- For the first time in the company's 133-year history, Metropolitan Edison Company (Met-Ed) employees throughout its 15-county Pennsylvania service area have worked safely for one full year without incurring an injury that requires medical treatment beyond basic first aid.
Overall, about 650 Met-Ed employees achieved this safety record by working approximately 1.3 million combined hours without incurring an Occupational Safety and Health Administration (OSHA)-recordable injury. The employees include line workers, meter readers, substation workers, forestry and meter services personnel, managers and other support personnel.
"We are proud of this impressive achievement because Met-Ed employees make working safely a top priority when providing reliable electric service to our customers," said Ed Shuttleworth, regional president, Met-Ed. "Achieving this milestone took a strong commitment by our employees and management leadership to ensure everyone returns home safely to their families and friends each and every day."
The safety mark is even more impressive since Met-Ed employees work with high voltages of electricity, and often operate in some of the most dangerous conditions, including ice and snow, high winds and thunderstorms and wide-spread flooding.
More than 782,000 customers in the Met-Ed territory have had their power restored since any Met-Ed employee last sustained an OSHA-recordable injury.
During the past year, Met-Ed employees have responded to twenty significant weather events such as thunder and lightning storms, wind storms, and the January 2016 snowstorm which blanketed the Met-Ed service area with more than 30 inches of snow. In addition, company meter readers have read more than 4,487,000 meters while walking and driving more than 900,000 miles without injury.
Met-Ed, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., Sept. 26, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Pennsylvania utilities (Met-Ed, Penelec, Penn Power and West Penn Power) offer a Home Energy Audit program that can provide incentives and additional savings on energy efficiency home improvements. Participating homeowners can qualify for up to $250 in rebates toward the cost of a comprehensive residential energy audit designed to increase the home's comfort and energy efficiency.
"Investing in energy efficiency improvements can help save energy and money throughout the year," said Wade Williams, manager of residential energy efficiency programs for FirstEnergy's utilities. "The Home Energy Audit program offers residential customers energy efficiency education and awareness, along with equipment and incentives to improve the efficiency of their homes."
The comprehensive in-home energy audit includes air infiltration testing and other diagnostic tools for improving the integrity of the building shell, with up to $200 of energy-saving measures installed at the time of the audit. The auditor also will examine appliances, lighting and HVAC systems in order to determine where homes are lacking in efficiency. After completing an in-home energy audit, customers are provided with a list of recommended energy savings projects for their home along with their associated energy savings impacts. Customers who implement recommended and eligible energy savings measures can earn additional rebates from FirstEnergy's Pennsylvania utilities, including tiered incentives based on the amount of savings – $100 in bonus rebates for savings over 2,000 kilowatt-hours (kWh), and $150 in bonus rebates for savings over 3,000 kWh. The fee for the audit is $350.
For questions regarding the program, visit https://energysavepa-home.com/residential-energy-audit or call 1-855-823-4298.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 26, 2016 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Beaver Valley Power Station Unit 1 in Shippingport, Pa., shut down at 12:01 a.m. on Saturday, September 24, for scheduled refueling and maintenance.
While the unit is offline, one-third of the 157 fuel assemblies will be replaced and numerous inspections of the plant's reactor vessel will be conducted. Preventive maintenance to ensure continued safe and reliable operations also will be performed on major components including the plant's three steam generators as well as various pumps, motors, valves and the cooling tower.
More than 1,000 temporary contractor workers and FENOC and FirstEnergy employees will supplement the Beaver Valley workforce during the outage.
The 939-megawatt Beaver Valley Unit 1 has operated safely and reliably, generating more than 10.5 million megawatt hours of electricity since the completion of its last refueling in May 2015.
FirstEnergy Corp. is headquartered in Akron, Ohio. Its FENOC subsidiary also operates the Perry Nuclear Power Plant in Perry, Ohio, and the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter: @BVPowerStation, @Perry_Plant, and @DavisBesse.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
READING, Pa., Sept. 23, 2016 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across the Pennsylvania Electric Company (Penelec) service area to maintain proper clearances around electrical equipment and help protect against tree-related outages.
Since the beginning of the year, contractors have trimmed trees along more than 2,600 miles of distribution and transmission lines in the Penelec service area as part of the company's more than $26.5 million vegetation management program for 2016, with an additional 1,500 miles expected to be completed by year-end.
During the next several months, Penelec will conduct tree trimming in the following locations: Bradford, Brockway, Dubois, Emlenton, Erie, Franklin Forks, Harborcreek, Johnstown, Mansfield, Martinsburg, Monroeton, Northeast, Philipsburg, Portage, Saxton, Seward, Shippensburg, Titusville, Towanda, Union City, Warren, and Westmont.
The tree trimming work in 2016 includes about $4.4 million for a special program to remove dead and dying ash trees damaged by the emerald ash borer. Penelec expects to proactively remove approximately 42,000 affected ash trees by the end of the year before they potentially cause damage to Penelec's electrical system. Over the next five years, Penelec's ash tree removal program will cover about 18,000 miles of power line rights-of-way with the expected removal of more than 200,000 affected ash trees.
"Penelec continues its efforts to enhance customer service and our tree trimming program is one of the most important things we do every year to help maintain our electric system," said Scott Wyman, regional president, Penelec. "By combining our special ash borer program with our ongoing vegetation management efforts, our goal is to reduce outages and improve service reliability by protecting our wires and other infrastructure from tree-related damage."
The vegetation management work is conducted by certified forestry experts under the company's direction, including Aerial Solutions, Asplundh Tree Expert Company, Davey Tree Expert Company, Lewis Tree Service, Nelson Tree Service Inc., Rotor Blade, Treesmiths and York Tree Service Inc.
The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
To learn more about FirstEnergy's tree trimming and vegetation management programs go to www.firstenergycorp.com/trees
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., Sept. 23, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across the Metropolitan Edison Company (Met-Ed) service area in Pennsylvania to maintain proper clearances around electrical equipment and help protect against tree-related outages as part of its ongoing efforts to help enhance service reliability.
Since the beginning of the year, contractors have trimmed trees along more than 1,650 miles of distribution and transmission lines in the Met-Ed service area as part of the more than $14.7 million vegetation management program for 2016, with an additional 950 miles expected to be completed by year-end.
"Tree trimming is one of the most important things we do every year to help maintain our electric system," said Ed Shuttleworth, regional president, Met-Ed. "Our goal is to reduce the number and duration of outages and enhance service reliability even more by protecting our wires and other infrastructure from tree-related damage."
During the upcoming months, Met-Ed will be conducting tree trimming work in the following locations: Easton, Gettysburg, Hamburg, Hanover, Lebanon, Reading, Stroudsburg, York and surrounding areas, and Upper Bucks County.
As part of its notification process, Met-Ed works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
The vegetation management work is conducted by certified forestry experts under the company's direction, including Aerial Solutions, Asplundh Tree Expert Company, Davey Tree Expert Company, Lewis Tree Service, Nelson Tree Service Inc., Rotor Blade, Treesmiths and York Tree Service Inc.
The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
To learn more about FirstEnergy's tree trimming and vegetation management programs go to www.firstenergycorp.com/trees
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 21, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that its President and Chief Executive Officer Charles E. Jones will participate in a panel discussion at the Wolfe Power & Gas Leaders Conference on Tuesday, September 27, 2016. The panel, entitled, "Refocused on Regulated," is scheduled to begin at approximately 10 a.m. EDT.
A live webcast of the panel discussion will be available on FirstEnergy's investor information website, www.firstenergycorp.com/ir, by clicking the 2016 Power & Gas Leaders Conference link. The webcast also will be archived on FirstEnergy's website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Sept. 21, 2016 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is upgrading equipment at a substation near Mt. Airy to help enhance service reliability for about 3,400 customers and meet increased electrical demand in the high-growth, eastern edge of its Maryland service area.
The centerpiece of the $2.5 million substation project is replacing two distribution transformers with larger units that will increase the system's capacity and help power the new residential and commercial development planned for eastern Frederick and Howard counties, which includes the new Preserve at Harvest Ridge housing development near New Market. The substation upgrade includes the installation of two new breakers, a new substation control building, and the installation of automated and remote control devices designed to help reduce the number and duration of service interruptions.
"As the eastern portion of our Maryland service area transitions from rural communities to an increasingly suburban setting, our team is working to keep ahead of the rapid growth," said James A. Sears, president of FirstEnergy's Maryland operations. "When the upgrades are completed in early 2017, our substation near Mt. Airy will be well-positioned to handle the area's electrical needs for years to come. In addition, the 'smart' equipment being installed will allow our operators to use real-time data to best manage the distribution system to provide reliable electric service to our customers."
The first transformer was delivered to the substation earlier this month and is scheduled to be installed and operational by the end of the year. The second transformer will be delivered and installed in early 2017. The transformers each measure 15 feet long by 13 feet wide by 14 feet tall, and weigh nearly 80,000 pounds. Overall, the project is expected to be completed by early 2017.
The project is one of numerous distribution and transmission infrastructure projects totaling $128 million that FirstEnergy Corp. has planned in 2016 for the Potomac Edison service area.
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of service reliability work being done in Potomac Edison's substation near Mt. Airy are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 20, 2016 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable December 1, 2016, to shareholders of record at the close of business on November 7, 2016.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 20, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) forestry contractors are scheduled to trim trees in more than 60 municipalities over the next two months as part of the company's ongoing efforts to maintain proper clearances around electrical equipment to help protect against tree-related outages.
Since the beginning of the year, work has been completed on more than 2,000 circuit miles as part of JCP&L's approximately $28 million tree trimming program for 2016. An additional 1,400 miles are expected to be completed by year-end.
JCP&L's tree trimming program is conducted by certified forestry experts under the company's direction. The work will take place in the following counties and municipalities:
JCP&L regularly trims or removes trees and conducts other vegetation management work along its electric distribution lines on a four-year cycle to help reduce tree-related outages. The company's certified forestry experts inspect vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased may also be removed.
As part of the process, JCP&L works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified before work begins.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 4, 2016 /PRNewswire/ -- As Tropical Storm Hermine threatens the eastern U.S., Jersey Central Power & Light (JCP&L) currently has more than 2,400 linemen, hazard responders, public protectors, dispatchers, forestry and other support personnel standing by to assist should high winds and flooding interrupt service to its central and northern New Jersey customers during Labor Day and beyond.
The workforce totals include more than 800 JCP&L personnel, plus 525 from other FirstEnergy Corp. utilities in Ohio, West Virginia and Maryland. The company also has 490 electrical contractors, and over 655 foresters standing by. In addition, the company continues to work with electric industry mutual assistance organizations to secure additional resources, if needed.
Staging areas for outside crews and vehicles are being prepared at the following locations: Monmouth Race Track in Oceanport; Six Flags Great Adventure in Jackson; Blue Claws Stadium in Lakewood; and Forked River Power Plant in Forked River. In addition, eight helicopters are on stand-by to patrol power lines to look for trouble spots once the severe weather has passed through the area.
"Along with securing additional line crews, we have implemented JCP&L's Incident Command System and have opened our Emergency Command Center in Red Bank to manage our response to Tropical Storm Hermine," said Tony Hurley, JCP&L vice president of Operations. "We also have taken aggressive storm preparation steps to help secure our system, including setting up specially designed flood barriers and pumps in several key substations as an added precaution should rising water levels cause any issues with the localized electrical system."
In addition, JCP&L has contacted International Brotherhood of Electrical Workers (IBEW) Locals 102 and 400 about securing additional hazard responders to assist with storm restoration activities, especially protecting the public from downed wires.
JCP&L's management also have provided operational updates to local mayors and emergency management officials and the New Jersey Board of Public Utilities, and will continue to do so as long as Tropical Storm Hermine remains a threat.
In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
FirstEnergy customer call centers will be fully staffed. Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link at www.firstenergycorp.com.
JCP&L customers also can subscribe to email and text message alert notifications to receive important storm information. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communication tools is available online at www.firstenergycorp.com/connect.
Prior to storms impacting New Jersey, the company encourages customers to plan ahead for the possibility of electric service interruptions by following these tips:
Customer Generators
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Sept. 2, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is closely monitoring Tropical Storm Hermine and is making preparations should possible heavy rain, high winds and flooding interrupt service to its northern and central New Jersey customers during the Labor Day weekend.
Some of the aggressive storm preparation steps that are being taken include JCP&L crews setting up specially designed flood barriers and pumps in several key substations as an added precaution should rising water levels cause any issues with the localized electrical system.
JCP&L also has contacted International Brotherhood of Electrical Workers (IBEW) Locals 102 and 400 about securing additional hazard responders to assist with storm restoration activities, especially protecting the public from downed wires.
"As we prepare for this storm, we are implementing many of the lessons learned from previous weather events, including using new technology and processes to help accelerate the restoration efforts," said Tony Hurley, JCP&L vice president of Operations. "We also are working to secure additional linemen and other personnel to assist with outage restoration efforts."
Based on weather forecasts from company meteorologists about the projected impact of Tropical Storm Hermine, JCP&L can quickly staff additional dispatchers and analysts at its regional dispatch offices, and has put additional line, substation and forestry personnel on notice that they will be needed should severe weather occur. In addition, contractors have been notified they could be required to assist with storm restoration efforts over the Labor Day weekend and beyond.
Other steps JCP&L is taking to prepare for Tropical Storm Hermine include:
In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department. Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
FirstEnergy customer call centers will be fully staffed. Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link at www.firstenergycorp.com.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive important storm information. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communication tools is available online at www.firstenergycorp.com/connect.
Prior to storms impacting New Jersey, the company encourages customers to plan ahead for the possibility of electric service interruptions by following these tips:
Customer Generators
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Sept. 1, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that Executive Vice President and Chief Financial Officer James F. Pearson will give a presentation at the Barclays CEO Energy-Power Conference on Thursday, September 8, 2016, at approximately 9:45 a.m. EDT. The presentation will include a general overview of FirstEnergy and the company's progress on key initiatives.
A live webcast of the presentation will be available on FirstEnergy's investor information website, www.firstenergycorp.com/ir, by clicking the Barclays CEO Energy-Power Conference link. The webcast will also be archived on FirstEnergy's website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Sept. 1, 2016 /PRNewswire/ -- Mon Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed a new substation and power lines that will provide electric service to a new Marcellus shale gas facility under construction in Doddridge County, West Virginia.
The $5 million project was completed in early August and will provide electric service to a new fracking water treatment plant being built near Greenwood. The treatment plant is expected to use more than 16 megawatts (MW) of electricity once fully operational, which is the equivalent of the amount of electricity used to power about 16,000 homes. The plant is designed to remove salt brine and other materials from wastewater produced by the hydraulic fracturing process used to release shale gas. The treated water then can be reused at gas wellheads.
"This project is part of Mon Power's continuing efforts to provide reliable electric service for the state's energy-intensive shale gas industry," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "Our newly constructed substation, which will serve this water treatment facility, will help support the state's shale gas industry along with benefiting the environment."
The new substation connects to an existing 138-kilovolt (kV) transmission line. The new substation equipment includes a large transformer that lowers the power from 138-kV to 34.5-kV, circuit breakers and a control building. The substation supplies electricity to the water treatment plant through two new, three-mile, 34.5-kV power lines attached to 70 wooden poles.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of Mon Power's new power line project in Doddridge County, W.Va., to provide electrical service to a fracking wastewater treatment plant are available for download on Flickr.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Aug. 23, 2016 /PRNewswire/ -- FirstEnergy (NYSE:FE) subsidiaries Mon Power and Potomac Edison recently submitted a request to the Public Service Commission of West Virginia (PSC) to recover costs for environmental control projects that support the long-term operation of Harrison and Fort Martin Power Stations.
As part of FirstEnergy's long-standing commitment to sustainability, the company is making emissions control investments at Harrison and Fort Martin that allow the plants to meet increasingly stringent environmental regulations. These investments will allow the plants to continue generating low-emitting and affordable electricity, providing well-paying jobs, and contributing significant tax income to surrounding communities.
Earlier this year, the West Virginia legislature authorized the PSC to approve coal-fired boiler modernization and improvement plans that meet requirements for cost-effectiveness and necessity. The new legislation encourages utilities to take proactive measures to upgrade coal-fired power plants in order to support West Virginia's coal industry while helping to ensure reliable electricity generation remains in the state.
The Modernization and Improvement Plan (MIP) will help Harrison and Fort Martin achieve ongoing compliance with the U.S. Environmental Protection Agency's Mercury and Air Toxics Standards (MATS) and Cross-State Air Pollution Rule (CSAPR) II requirements. To meet these requirements, 18 projects are planned or underway, including improving electro-static precipitators, installing technology to control mercury and other emissions, improving existing flue gas desulfurization equipment, enhancing continuous emission monitoring, tuning boilers, and improving controls and the selective catalytic reduction system.
If approved, the $6.9 million annual revenue increase would amount to a $0.55 increase in the average residential customer's bill beginning May 1, 2017.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
Potomac Edison serves 138,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Aug. 22, 2016 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) is continuing construction work this summer and throughout the remainder of 2016 on distribution and transmission infrastructure projects totaling approximately $238 million in Mon Power's 34-county West Virginia service area.
To date, more than $150 million of the total has been spent on transmission enhancements to reinforce the system and support economic growth, along with constructing new distribution lines and inspecting and replacing utility poles and other equipment.
"Each year we carefully review and plan transmission and distribution projects that will enhance service to our customers while also preparing our system for future load growth," said Holly Kauffman, president of FirstEnergy's West Virginia operations. "By doing proactive upgrades, we focus on the reliability and resiliency of our system with the goal of reducing the duration and frequency of service interruptions."
FirstEnergy projects completed, underway or planned in the Mon Power footprint in 2016 include:
About $88 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of service reliability work being done in the Mon Power area are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Aug. 18, 2016 /PRNewswire/ -- To help enhance service reliability for customers, Jersey Central Power & Light (JCP&L) is continuing construction work this summer and throughout the remainder of 2016 on distribution and transmission infrastructure projects totaling approximately $387 million in its northern and central New Jersey service areas.
To date, more than $233 million of the total has been spent on a variety of projects, including completing the final phase of a 115-kilovolt (kV) transmission line that runs through Mercer, Middlesex and Monmouth counties, upgrading 40 distribution circuits, completing a substation expansion in Morris County and trimming trees along more than 2,000 miles of lines. Other scheduled work includes 54 additional circuit upgrades, installing equipment that automatically switches from one circuit to another when a problem is detected, upgrading voltage controls, and inspecting and replacing utility poles.
"Last year JCP&L experienced its best service reliability in over a decade and our goal is to make our system even better," said Jim Fakult, president of JCP&L. "The 2016 projects feature major enhancements to the transmission system that delivers the energy that businesses, industries and residents across northern and central New Jersey expect. These proactive upgrades increase the resiliency of our system and help further minimize the duration and frequency of service interruptions."
JCP&L projects completed, underway or planned in 2016 include:
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
Editor's Note: Photos of service reliability work being done in the JCP&L area are available for download on Flickr.
Forward-Looking Statements: This newsletter includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 17, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is continuing construction work this summer and throughout the remainder of 2016 on distribution and transmission infrastructure projects totaling approximately $237 million in The Illuminating Company's northeast Ohio territory to help enhance service reliability for customers.
To date, more than $131 million of the total has been spent on a variety of projects, including building a new substation and transmission line in Leroy Township in Lake County, along with rebuilding and upgrading circuits, and inspecting and replacing utility poles and other equipment.
In addition, recent infrastructure work completed by The Illuminating Company and FirstEnergy in northeast Ohio helped the system provide uninterrupted power to the 2016 Republican National Convention in Cleveland. Even with high demand for electricity in downtown Cleveland and hot and humid weather, the electric system performed flawlessly throughout the event.
"We continually review and re-evaluate our system, looking for projects that can provide the greatest benefit to the greatest number of our customers," said John Skory, regional president of The Illuminating Company. "The work completed in previous years and infrastructure projects underway in 2016 are designed to benefit our customers by making our system the best it can be when it comes to providing safe and reliable electric service."
FirstEnergy projects completed, underway or planned in The Illuminating Company footprint in 2016 include:
More than $111 million of the budgeted total is expected to be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This newsletter includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Aug. 17, 2016 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) is continuing construction work this summer and throughout the remainder of 2016 on distribution and transmission infrastructure projects totaling approximately $115 million in Toledo Edison's service territory.
To date, more than $59 million of the total has been spent on a variety of projects, including enhancing the downtown Toledo underground network, constructing new transmission lines, replacing a circuit breaker that helps connect Davis-Besse Nuclear Power Station to the electric grid, and inspecting and replacing utility poles.
"We continually review and re-evaluate our system, looking for projects that can provide the greatest benefit to the greatest number of our customers," said Rich Sweeney, regional president of Toledo Edison. "These proactive upgrades are designed to further reduce the number and length of service disruptions our customers might experience."
FirstEnergy projects underway or planned in the Toledo Edison footprint in 2016 include:
More than $69 million of the budgeted total will be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
Toledo Edison serves more than 300,000 customers in all or parts of Defiance, Fulton, Henry, Lucas, Ottawa, Sandusky, Williams and Wood counties in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This newsletter includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Aug. 17, 2016 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) is continuing construction work this summer and throughout the remainder of 2016 on distribution and transmission infrastructure projects totaling approximately $369 million in Ohio Edison's 34-county service territory.
To date, more than $195 million of the total has been spent on a variety of projects, including installing equipment in existing substations, constructing new substations, installing remote control equipment on circuits, and the inspection and replacement of utility poles.
"By doing proactive upgrades, we enhance the reliability and resiliency of our system, further minimizing the duration and frequency of service interruptions," said Randall Frame, regional president of Ohio Edison. "The work completed in previous years and infrastructure projects underway in 2016 are designed to benefit our customers by making our system the best it can be when it comes to providing safe and reliable electric service."
FirstEnergy projects underway or planned in the Ohio Edison footprint in 2016 include:
More than $225 million of the budgeted total will be spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This newsletter includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Aug. 15, 2016 /PRNewswire/ -- To help enhance service reliability for customers, FirstEnergy Corp. (NYSE: FE) is continuing construction work this summer and throughout the remainder of 2016 on distribution and transmission infrastructure projects totaling approximately $128 million in Potomac Edison's service area in western Maryland and the Eastern Panhandle of West Virginia.
To date, more than $67 million of the total has been spent on a variety of projects, including transmission enhancements to reinforce the system and support economic growth, constructing new distribution circuits, and inspecting and replacing utility poles and underground cables.
"These infrastructure enhancements are necessary to serve the influx of new residents and businesses to our Potomac Edison service territory," said James A. Sears, Jr., vice president of Potomac Edison. "At the same time, we also are working on projects designed to help enhance the day-to-day service we provide our customers, such as replacing older underground cables and improving existing overhead facilities."
FirstEnergy projects underway or planned in the Potomac Edison footprint in 2016 include:
About $12 million of the budgeted total will be for transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
Potomac Edison serves about 260,000 customers in seven Maryland counties and 138,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: A photo of service reliability work being done in the Potomac Edison area is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Aug. 11, 2016 /PRNewswire/ -- On August 11, Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE) will celebrate the International Brotherhood of Electrical Workers (IBEW) "Code of Excellence" designation for its partnership with IBEW Local 245, which represents more than 400 FirstEnergy employees in northwestern Ohio. A ceremony attended by FirstEnergy and IBEW leaders will be held to mark the occasion.
The "Code of Excellence" is a designation that indicates an ongoing commitment to quality workmanship, high standards of productivity and an ongoing focus on safety.
IBEW Local 245 members are employed by Toledo Edison, a FirstEnergy utility that serves more than 300,000 customers in eight northwest Ohio counties; FirstEnergy Nuclear Operating Company, which operates the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio; and FirstEnergy Generating Company, which operates the Bay Shore Power Plant in Oregon, Ohio.
Toledo Edison is only the second utility in the United States to recognize this designation for the partnership between the union and the company. Steven E. Strah, senior vice president of FirstEnergy and president of FirstEnergy Utilities, and Lonnie Stephenson, international president of IBEW, will officiate the ceremony that will take place at Toledo Edison's service center in Holland, Ohio. It will include the unveiling of an IBEW "Code of Excellence" insignia on a Toledo Edison bucket truck. The insignia will be affixed to all Toledo Edison trucks.
"IBEW Local 245 members have a well-earned reputation for hard work and a focus on safe operations, two key attributes that led to the 'Code of Excellence' designation," said Strah. "As an organization we take great pride in the productive relationships we have developed with our union employees, which helps us provide reliable electric service to our customers."
"The electric work done by IBEW members leaves no margin for error, which is why our 'Code of Excellence' is the highest designation we can bestow on one of our locals," said Stephenson. "By embracing excellence in everything they do, IBEW Local 245 members have set a high standard and I am proud to recognize the work they do on behalf of their company and their customers."
Other FirstEnergy senior management attending the ceremony include Mark Julian, vice president, Utility Operations; Charles P. Cookson, executive director of Labor Relations; and David A. Poska, director of Operations Services for Toledo Edison. Other key IBEW members attending the event include Jim Hunter, director of Utilities for IBEW; Ken Cooper, IBEW 4th District vice president; Larry Tscherne, business and financial manager, IBEW Local 245; Ken Erdmann, assistant business manager, IBEW Local 245; Phil LaCourse, assistant business manager, IBEW Local 245; and Ray Zychowicz, president, IBEW Local 245.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Aug. 9, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) today filed a petition with the New Jersey Board of Public Utilities (BPU) for a transmission infrastructure project that will result in a stronger, modernized electrical system benefiting nearly 214,000 customers in Monmouth County. The $111 million Monmouth County Reliability Project (MCRP) uses a New Jersey Transit railroad right-of-way between existing substations in Aberdeen and Red Bank and includes a new 230-kV transmission line, substation enhancements and modern technology upgrades.
The petition describes the need for the MCRP, the route selection process, and JCP&L's plans for complying with all regulations and obtaining the necessary permits to protect the health and safety of the public and the environment. It also includes a study conducted by a real estate expert that concludes the project won't impact area property values. The petition is available online for public review, and the BPU will schedule a public hearing to obtain input from interested parties.
"At JCP&L, we're committed to delivering the dependable electricity our customers need to power their homes, businesses and communities," said JCP&L President Jim Fakult. "This filing marks the completion of many months of planning, design and engineering analysis and contains additional detailed information about the project."
PJM Interconnection, LLC, the organization that coordinates the movement of electricity and oversees transmission reliability across New Jersey and 12 other states, has recommended this project be built. The MCRP will allow JCP&L to comply with federal electric transmission reliability requirements by providing an additional source of electricity to this area of Monmouth County.
Following announcement of the proposed project in May of this year, JCP&L conducted a series of public open houses to share information and gather feedback. The company also hosted an informational hotline and launched a website, www.monmouthreliability.com, to provide additional details and answer common questions. Through these channels and its social media platforms, JCP&L has responded to approximately 380 inquiries about the project.
The MCRP is part of JCP&L's multi-year "Energizing the Future" transmission system reliability enhancement program. If approved, construction is expected to begin in August 2017, with a planned in-service date of June 2019. In addition to creating approximately 245 temporary jobs, the project is expected to deliver economic benefits of nearly $43 million in compensation, nearly $60 million in gross domestic product and $12.6 million in state and local revenues.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 29, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today completed demolition of the 854-foot concrete stack and associated building at its former coal-fired R.E. Burger Power Station in Shadyside, Ohio, paving the way for future development.
Approximately 450 pounds of explosives were used to drop Burger's concrete stack and 171-foot tall boiler house, where steam was created to generate electricity. Explosive charges were detonated at approximately 8:30 a.m. this morning, and the structures took only about 10 seconds to fall.
Today's activities were the culmination of more than three weeks of preparation. Excess concrete and rebar were removed from the structures to direct the angle of the buildings' fall. A professional explosives demolition team from Tulsa, Ok., set charges in the structures for the explosives. Dust suppression systems consisting of large fans and water sprayers surrounded the buildings to help contain the concrete and dirt particles that result from the structures' fall.
To ensure the safety of the hundreds of spectators who viewed the demolition, FirstEnergy worked closely with the Ohio State Highway Patrol, U.S. Coast Guard, and authorities from Belmont County, Ohio, and Marshall County, W. Va. Highways in the area along with the Ohio River were closed for approximately 20 minutes as the buildings were toppled. A safe viewing area for the public was designated at a park across the river in Moundsville, W. Va.
"Today's demolition is an important milestone that supports future development of the Burger facility," said James H. Lash, Executive Vice President and President of FirstEnergy Generation. "We are working with state and local officials, JobsOhio and PTTGC America to support use of this property for a proposed cracker plant that will bring a vital manufacturing base to the county and many employment and business development opportunities to the region."
"FirstEnergy has a legacy of creating jobs and opportunity in eastern Ohio, and we are honored to have the opportunity to build upon that legacy," said Toasaporn Boonyapipat, President and CEO of PTTGC America. "We appreciate the cooperative relationship we have built with FirstEnergy as we work with all of our local, regional and statewide partners toward making this project a reality."
FirstEnergy has entered into an agreement with PTTGC America for transfer of the property if the company elects to proceed with construction of an ethane gas cracker plant at the site. Under the agreement, PTTGC America retains exclusive property acquisition rights while completing the engineering studies associated with the proposed project.
"This project is a top priority for JobsOhio. The ongoing demolition and remediation at the former Burger power plant is a positive signal and will position the site well for redevelopment should PTTGC America decide to move forward," said David Mustine, JobsOhio Senior Advisor. "The agreement between FirstEnergy and PTTGC America is another step in the right direction, but much work needs to be completed prior to the company's final investment decision, which we expect in early 2017."
The Burger plant was fully retired in 2011, and demolition activities began in 2015 to remove several other structures, including an electrical switchyard, three other buildings and the coal yard and its associated equipment. Property clean-up, removal of scrap metal and concrete debris, and planting grass on the site is expected to be complete by the end of 2016.
About Burger
FirstEnergy's Burger power plant began operation in 1944 as a single-unit, 63-megawatt coal plant. A second 63-megawatt unit was added in 1947, followed by a 103-megawatt unit in 1950 and two 156-megawatt units in 1955. The Burger units collectively produced 568 megawatts of electricity.
Units 1 and 2 were the first to retire in 1995, when they reached the end of their life cycle. Units 4 and 5 were decommissioned at the end of 2010 due to economic conditions, and Unit 3 was retired in 2011 based on the impact of environmental rules.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of today's demolition are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 28, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported a second quarter 2016 GAAP loss of $1.1 billion, or $(2.56) per basic and diluted share of common stock, on revenue of $3.4 billion. The loss resulted from asset impairment and plant exit costs in the company's competitive business. Operating (non-GAAP) earnings* were $0.56 per basic share of common stock. Operating (non-GAAP) earnings exclude the effect of special items listed below.
These results compare to second quarter 2015 net income of $187 million, or $0.44 per basic and diluted share of common stock, on revenue of $3.5 billion. Second quarter 2015 operating (non-GAAP) earnings were $0.53 per basic share of common stock.
FirstEnergy is also providing earnings guidance for the third quarter and full year of 2016. The company expects third quarter GAAP earnings of $0.63 to $0.73 per basic share, and operating (non-GAAP) earnings of $0.65 to $0.75 per basic share. For the full year, FirstEnergy expects GAAP losses of $(0.75) to $(0.55) per basic share, primarily reflecting the asset impairment and plant exit costs recognized in the second quarter. Operating (non-GAAP) earnings guidance for the full year is $2.40 to $2.60 per basic share.
"We continue to make steady progress on our strategic initiatives, while positioning FirstEnergy for stable, predictable, and customer-service oriented growth," said Charles E. Jones, FirstEnergy president and chief executive officer. "At the same time, we have made difficult but necessary decisions to address the continuing impact of challenging market conditions on our competitive business."
The second quarter 2016 net loss reflects pre-tax asset impairment and plant exit costs of $1.5 billion, which were announced last week. This includes charges associated with deactivating W.H. Sammis Units 1-4 and Bay Shore Unit 1, an impairment charge associated with goodwill at the company's competitive energy services segment, and coal contract termination and settlement costs resulting from deactivated units. In addition, the company recorded valuation allowances against state and local net operating loss carryforwards of $159 million.
In FirstEnergy's Regulated Distribution business, second quarter 2016 earnings decreased compared to the same period in 2015, primarily due to lower distribution deliveries, higher retirement benefit expense and lower commodity margin at regulated generating units, partially offset by the impact of new distribution rates at the Pennsylvania utilities that went into effect in May 2015.
Total distribution deliveries decreased 1.7 percent compared to the second quarter of 2015. Residential sales decreased 1.5 percent and commercial sales decreased 0.6 percent, primarily due to the use of more energy-efficient products. The impact of weather was essentially flat for the quarter. Deliveries to industrial customers decreased 2.7 percent, as continued growth in the shale gas sector was more than offset by lower usage from steel and coal mining activity.
In the Regulated Transmission business, earnings decreased compared to the second quarter of 2015, primarily resulting from increased net financing costs and lower transmission revenues that resulted from ATSI's and TrAIL's annual true-ups to their formula rates and a lower return on equity at ATSI that went into effect in January 2016. These were partially offset by a higher rate base related to the company's Energizing the Future program.
In the Competitive Energy Services segment, charges related to asset impairment and plant exit costs, as well as mark-to-market adjustments on commodity contract positions, more than offset stronger commodity margin compared to the second quarter of 2015. Commodity margin benefited from higher capacity revenues, increased wholesale sales, and lower purchased power and fuel expense, partially offset by lower contract sales related to the company's strategy to more effectively hedge its generation.
For the first six months of 2016, the company reported a GAAP loss of $761 million or $(1.79) per basic and diluted share of common stock, on revenues of $7.3 billion. Operating (non-GAAP) earnings in the first half of the year were $1.35 per basic share of common stock.
These results compare to GAAP net income of $409 million, or $0.97 per basic and diluted share of common stock, on revenue of $7.4 billion during the first half of 2015. Operating (non-GAAP) earnings were $1.15 per basic share of common stock during the period.
Consolidated GAAP EPS to Operating (Non-GAAP) EPS* Reconciliation
|
||||||||||||||
Second Quarter |
Year-To-Date |
2016 Estimates |
||||||||||||
2016 |
2015 |
2016 |
2015 |
Full Year |
Third Quarter |
|||||||||
Basic Earnings (Loss) Per Share (GAAP) |
$(2.56) |
$0.44 |
$(1.79) |
$0.97 |
$(0.75) - $(0.55) |
$0.63 - $0.73 |
||||||||
Excluding Special Items*: |
||||||||||||||
Regulatory charges |
0.01 |
0.02 |
0.11 |
0.04 |
0.13 |
0.01 |
||||||||
Trust securities impairment |
— |
0.02 |
0.01 |
0.03 |
0.01 |
— |
||||||||
Merger accounting – commodity contracts |
0.01 |
0.02 |
0.02 |
0.04 |
0.05 |
0.01 |
||||||||
Asset impairment/Plant exit costs |
2.99 |
0.01 |
2.99 |
0.03 |
2.95 |
— |
||||||||
Mark-to-market adjustments |
0.11 |
(0.01) |
0.01 |
(0.01) |
0.01 |
— |
||||||||
Impact of non-core asset sales/impairments |
— |
0.02 |
— |
0.03 |
— |
— |
||||||||
Retail repositioning charges |
— |
0.01 |
— |
0.02 |
— |
— |
||||||||
Total Special Items* |
3.12 |
0.09 |
3.14 |
0.18 |
3.15 |
0.02 |
||||||||
Basic EPS - Operating (Non-GAAP) |
$0.56 |
$0.53 |
$1.35 |
$1.15 |
$2.40 - $2.60 |
$0.65 - $0.75 |
||||||||
* Per share amounts for the special items above are based on the after-tax effect of each item, divided by the weighted average basic shares outstanding and includes the estimated dilutive impact of additional common stock in the second half of the year. The current and deferred income tax effect was calculated by applying the subsidiaries' statutory tax rate to the pre-tax amount with the exception of Asset impairment/Plant exit costs that included an impairment of goodwill, of which $433 million of the $800 million pre-tax impairment was non-deductible for tax purposes, and valuation allowances against state and local NOL carryforwards of $159 million. With the exception of these items included in Asset impairment/Plant exit costs, the income tax rates range from 35% to 42%. |
||||||||||||||
Non-GAAP financial measures
*Operating earnings exclude special items as described herein, and is a non-GAAP financial measure. Management uses operating earnings and operating earnings by segment to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Management believes that the non-GAAP financial measure of "operating earnings" provides a consistent and comparable measure of performance of its business to help shareholders understand performance trends. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). This non-GAAP financial measure is intended to complement, and is not considered as an alternative to, the most directly comparable GAAP financial measure. Also, this non-GAAP financial measure may not be comparable to similarly titled measures used by other entities. Per share amounts for the special items above are based on the after-tax effect of each item divided by the weighted average shares outstanding for the period.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the second quarter and first half of the year, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on Second Quarter 2016 Consolidated Report to the Financial Community. Also posted are supporting materials related to 2016 earnings guidance.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 10:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the Second Quarter 2016 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process and resulting outcomes on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the risks and uncertainties at the CES segment, including FES, related to continued depressed wholesale energy and capacity markets, including the potential need to deactivate or sell additional generating units; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., July 25, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has updated its Monmouth County Reliability Project (MCRP) website with a new educational infographic and answers to additional questions the company has received from the public.
The MCRP website, www.monmouthreliability.com, launched in mid-May in conjunction with JCP&L's announcement of the proposed transmission project. It is designed to provide frequent project updates and ongoing dialogue with residents and local officials. To date, more than 6,000 visitors have used the site.
The website explains the critical need for the new transmission line, details the benefits to Monmouth County residents and businesses, and answers common questions about the project. Interested parties can contact JCP&L representatives through the website to ask more specific questions, an option that has resulted in responses to more than 300 inquiries since the site's launch.
The MCRP website now features answers to a total of 20 frequently-asked questions, including four that were recently added in response to the company's ongoing discussions with the public. The additional information addresses JCP&L's efforts to minimize impacts on the community, outlines the company's process for designing the transmission poles, and links to a study by the grid operator that concludes the proposed line is necessary for service reliability. This information is complemented by a new infographic that visually depicts the need for the project and its benefits to the community.
The MCRP is a new 230-kV transmission line, substation enhancement and modern technology upgrade that will result in a stronger and more modern electrical system benefitting nearly 214,000 JCP&L customers in Monmouth County. Currently, an electricity disruption between Aberdeen and Red Bank would result in a significant power outage affecting customers across the county. The proposed transmission line provides an additional supply of electricity into the area, enhancing reliability for our Monmouth County customers.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 22, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) announced today that its FirstEnergy Solutions subsidiary will make operational changes to coal-fired units at two of its Ohio plants in response to challenging market conditions.
The company plans to sell or deactivate the 136-megawatt (MW) Bay Shore Unit 1 in Oregon, Ohio, by October 2020. In addition, Units 1-4 of the company's seven-unit W.H. Sammis Plant in Stratton, Ohio – collectively representing 720 MW of capacity – will be retired in May 2020. Units 5-7 will continue to provide 1,490 MW of reliable baseload generation.
In 2015, Bay Shore Unit 1 and Sammis Units 1-4 contributed about four percent of the electricity produced by the company's generating plants. FirstEnergy does not intend to offer these units into the PJM capacity auction for the 2020-2021 timeframe.
"We have taken a number of steps in recent years to reduce operating costs of our generation fleet," said FirstEnergy Generation President Jim Lash. "However, continued challenging market conditions have made it increasingly difficult for smaller units like Bay Shore and Sammis Units 1-4 to be competitive. It's no longer economically viable to operate these facilities."
No job reductions are expected at either plant. FirstEnergy will work with any potential buyer to discuss continued employment for the 78 employees at Bay Shore, or if the plant is deactivated, provide employees with job opportunities at other FirstEnergy facilities. There are 368 employees at Sammis.
Plant deactivations are subject to review for reliability impacts, if any, by PJM Interconnection, the regional transmission organization that controls the area where they are located.
About Bay Shore
FirstEnergy and British Petroleum collaborated on a project to install a fluidized-bed combustion boiler at Bay Shore Unit 1, the largest of its kind in the world when it came online in 2000. The boiler is fueled by petroleum coke, a byproduct of the refining process, and Bay Shore provides steam to the refinery for its operations. Bay Shore will be deactivated when this agreement with the refinery ends if a buyer for Unit 1 is not identified.
Bay Shore Units 2-4 were deactivated in 2012 based on the impact of environmental rules.
About Sammis
W.H. Sammis is FirstEnergy's largest coal-fired power plant in Ohio. The remaining units include Unit 5, which came online in 1967 and generates 300 MW, and Units 6 and 7, which came online in 1969 and 1971 respectively and generate 600 MW each. In 2010, FirstEnergy completed a $1.8 billion emissions control project at Sammis to help improve air quality and comply with current environmental regulations.
Sammis Units 1-4, each with 180 MW capacity, came online between 1959-1962.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations, including without limitation impairments thereon; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, such as long-term fuel and transportation agreements, and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments, such as long-term fuel and transportation agreements; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on our business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 21, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release second quarter and first-half 2016 financial results and provide 2016 earnings guidance after markets close on Thursday, July 28. FirstEnergy management will discuss the results and guidance during a conference call with financial analysts at 10 a.m. EDT on Friday, July 29. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
FirstEnergy's second quarter Consolidated Report to the Financial Community will be posted on the investor section of the website after markets close on July 28.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., July 20, 2016 /PRNewswire/ -- West Penn Power is beginning work on approximately $17 million of additional electrical system projects for 2016 to enhance service reliability for its 720,000 customers.
The work includes installing protective devices on wires and poles, rebuilding electric lines, adding other special equipment, and installing automated and remote control devices – all designed to help reduce the number and duration of service interruptions.
These projects were identified in West Penn Power's five-year Long-Term Infrastructure Improvement Plan that was approved earlier this year by the Pennsylvania Public Utility Commission. Ultimately, this special program will result in an additional $88 million being spent through 2020 on targeted distribution infrastructure enhancement projects in the West Penn Power service area.
"The work is designed to benefit customers by complementing the projects we already do each year to enhance the reliability of our electric system," said David W. McDonald, regional president of West Penn Power. "Whether it's upgrading existing circuits or installing 'smart' equipment that can be operated remotely, our goal is to make our system the best it can be when it comes to providing reliable service."
The scheduled projects in the West Penn Power service area in 2016 include:
West Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves about 720,000 customers in 23 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 20, 2016 /PRNewswire/ -- Pennsylvania Power Company (Penn Power) is beginning work on approximately $12 million of additional electrical system projects for 2016 to enhance service reliability for its 160,000 customers.
The work includes rebuilding electric lines, beginning engineering work on new substations, and installing automated and remote control devices – all designed to help restore service faster, along with minimizing the number of customers affected, if an outage does occur.
These projects were identified in Penn Power's five-year Long-Term Infrastructure Improvement Plan that was approved earlier this year by the Pennsylvania Public Utility Commission. Ultimately, this special program will result in an additional $53 million being spent through 2020 on targeted distribution infrastructure enhancement projects in the Penn Power service area.
"The work is designed to benefit customers by complementing the projects we already do each year to enhance the reliability of our electric system," said Randy Frame, regional president of Penn Power. "Whether it's upgrading existing circuits or installing 'smart' equipment that can be operated remotely, our goal is to make our system the best it can be when it comes to providing reliable service."
The projects scheduled in Penn Power's service area in 2016 include:
Penn Power, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 19, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) distribution and transmission systems are prepared to meet the anticipated increase in customer electricity usage associated with 90-degree temperatures expected across the company's service area later this week.
"Our comprehensive system maintenance program helps to ensure system reliability when temperatures climb and customers depend on us to stay comfortable," said Steven E. Strah, senior vice president of FirstEnergy and president of FirstEnergy Utilities. "From western Ohio to the New Jersey shore, our electric system is designed and maintained to operate effectively even in extreme weather conditions."
FirstEnergy's utilities offer some common-sense hot weather tips customers can follow to stay comfortable while using electricity wisely during this period of high demand:
FirstEnergy utilities include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Jersey Central Power & Light in New Jersey; Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; and Potomac Edison in Maryland.
For updated company information, including hot weather tips, customers are urged to visit the 24/7 Power Center at www.firstenergycorp.com/outages. The utility companies also will provide updates via Twitter:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. Visit FirstEnergy on the web at www.firstenergycorp.com, and on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
AKRON, Ohio, July 19, 2016 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable September 1, 2016, to shareholders of record at the close of business on August 5, 2016.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., July 12, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has completed the final phase of a $48 million, 11.5-mile transmission line project designed to enhance service reliability and system resiliency for nearly 34,000 customers in Mercer, Middlesex and Monmouth counties.
Recently completed work included the construction of a new, 8-mile 115-kilovolt (kV) transmission line between an existing JCP&L substation in Hightstown and a transmission structure located along State Highway 33 near Manalapan. This project was the second phase of work begun in 2013 to replace or rebuild a 230-kV transmission line and support structures along more than three miles of existing right-of-way from a substation in Manalapan to Millstone.
"This vital infrastructure improvement could not have been successfully constructed without the cooperation of multiple municipal, county and state officials and agencies," said Tony Hurley, JCP&L vice president of Operations. "This combined effort helped complete the project in a timely and efficient manner to better serve customers in central New Jersey."
The project included installing more than 200 new wood utility poles, five new steel monopoles, and more than 174,000 feet of new wire. In addition, the substation at Hightstown received a new transformer and circuit breaker upgrades were installed to increase operational flexibility and reliability. The completed project enhances electrical service to customers in East Windsor, Englishtown, Hightstown, Manalapan, Millstone and Monroe and is located within or adjacent to existing corridors, roadways and railroad rights-of-way.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. Visit FirstEnergy on the web at www.firstenergycorp.com, and follow FirstEnergy on Twitter @FirstEnergyCorp.
Editor's Note: Photos of some of the work for this JCP&L substation project are available for download on Flickr.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., July 11, 2016 /PRNewswire/ -- Potomac Edison customers in Maryland can now receive $50 when they choose to recycle an old, working refrigerator or freezer. Scheduling a pickup is easy. Customers in Maryland can call 888-277-0528 or visit www.energysaveMD.com.
"Often, an outdated refrigerator either sits unused or is used for extra storage in a garage or basement," said Wade Williams, manager of residential energy efficiency programs for FirstEnergy's utilities. "Responsibly recycling the unit is good for the environment and can lead to energy savings. Refrigerators that are more than 10 years old can use twice the amount of energy of newer ENERGY STAR® models, resulting in savings of over $100 a year in energy costs."
ARCA Recycling, Inc. manages the recycling program for FirstEnergy's utilities. The company offers state-of-the-art appliance recycling services designed to guarantee that every appliance collected through energy efficiency programs is fully and properly disassembled. This includes ensuring all hazardous materials and components are removed, stored, transported and disposed of in a responsible manner in accordance with federal, state and local rules and regulations.
For information about this and other energy efficiency programs offered by Potomac Edison, visit www.energysaveMD.com.
Potomac Edison is a subsidiary of FirstEnergy Corp. (NYSE: FE) and serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., July 11, 2016 /PRNewswire/ -- Customers of FirstEnergy Corp.'s (NYSE: FE) Pennsylvania utilities (Penelec, Met-Ed, Penn Power and West Penn Power) can now receive $50 when they choose to recycle an old, working refrigerator or freezer. Low-income customers may qualify for an additional incentive through the program. Scheduling a pickup is easy. Customers can call 888-277-0527 or visit www.energysavePA.com.
"Often, an outdated refrigerator either sits unused or is used for extra storage in a garage or basement," said Wade Williams, manager of residential energy efficiency programs for FirstEnergy's utilities. "Responsibly recycling the unit is good for the environment and can lead to energy savings. Refrigerators that are more than 10 years old can use twice the amount of energy of newer ENERGY STAR® models, resulting in savings of over $100 a year in energy costs."
ARCA Recycling, Inc. manages the recycling program for FirstEnergy's utilities. The company offers state-of-the-art appliance recycling services designed to guarantee that every appliance collected through energy efficiency programs is fully and properly disassembled. This includes ensuring all hazardous materials and components are removed, stored, transported and disposed of in a responsible manner in accordance with federal, state and local rules and regulations.
For information about this and other energy efficiency programs offered by FirstEnergy's Pennsylvania utilities, visit www.energysavePA.com.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, July 11, 2016 /PRNewswire/ -- Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), is completing the installation of two additional underground transformers, two control boxes and other projects to enhance service reliability for its customers in downtown Toledo.
This work is part of the company's nearly $800,000 investment in its electric system in downtown Toledo this year. Since spring, workers have installed transformers, protective devices, relays, underground cable and other equipment in several underground vaults downtown. Vaults are small rooms located under city streets that contain equipment designed to distribute electricity to customers safely and efficiently rather than using above-ground poles.
"Our 2016 maintenance program is strong, with a specific focus on downtown Toledo's underground network," said Rich Sweeney, regional president of Toledo Edison. "Completing these downtown projects by the end of the summer assures our grid remains reliable through the fall and winter months, when work underground is more difficult to complete. In addition to our investments downtown, by the end of the year we will have invested millions on other infrastructure projects across our northwest Ohio service territory."
Other downtown Toledo work planned for this year includes modifying service to the new Promedica headquarters building and parking garage, replacing a concrete vault top on Cherry Street and underground cable in multiple locations.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., July 7, 2016 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed) is beginning work on approximately $7 million of additional electric system projects for 2016 to enhance service reliability for its 560,000 customers.
This includes installing more durable polymer protective devices on wires and poles, replacing or rehabilitating electric lines, creating additional circuit ties and loops, installing automated and remote control devices, and replacing underground cable in residential developments – all designed to help reduce the number and duration of service interruptions.
These projects were identified in Met-Ed's five-year Long-Term Infrastructure Improvement Plan that was approved earlier this year by the Pennsylvania Public Utility Commission. Ultimately, this special program will result in an additional $43 million being spent through 2020 on targeted distribution infrastructure enhancement projects in the Met-Ed area.
"The work is designed to benefit customers by complementing the projects we already do each year to enhance the reliability of our electric system," said Ed Shuttleworth, regional president of Met-Ed. "Whether it's upgrading existing circuits or installing 'smart' equipment that can be operated remotely, our goal is to the make our system the best it can be when it comes to providing reliable service."
The scheduled projects in the Met-Ed service area in 2016 include:
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
ERIE, Pa., July 7, 2016 /PRNewswire/ -- Pennsylvania Electric Company (Penelec) is beginning work on approximately $11 million of additional electric system projects for 2016 to enhance service reliability for its 600,000 customers.
The work includes installing more durable polymer protective devices on wires and poles, replacing or rehabilitating electric lines, adding other special equipment, and installing automated and remote control devices – all designed to help reduce the number and duration of service interruptions.
These projects were identified in Penelec's five-year Long-Term Infrastructure Improvement Plan that was approved earlier this year by the Pennsylvania Public Utility Commission. Ultimately, this special program will result in an additional $56 million being spent through 2020 on targeted distribution infrastructure enhancement projects in the Penelec area.
"The work is designed to benefit customers by complementing the projects we already do each year to enhance the reliability of our electric system," said Scott Wyman, regional president of Penelec. "Whether it's upgrading existing circuits or installing 'smart' equipment that can be operated remotely, our goal is to the make our system the best it can be when it comes to providing reliable service."
The scheduled projects in the Penelec service area in 2016 include:
Penelec, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 30, 2016 /PRNewswire/ -- Foresters from Jersey Central Power & Light Company (JCP&L) will take to the sky to conduct helicopter inspections of transmission lines beginning July 1 as part of the company's annual vegetation management program.
The patrols are scheduled through July 5, weather permitting. Local law enforcement agencies will be notified before inspections take place.
Helicopters are a cost-effective and efficient way to conduct inspections that help keep JCP&L's high-voltage system durable and reliable. Residents may see a small helicopter flying at low altitude or hovering over transmission lines and towers while company foresters examine trees and other vegetation in the right-of-way and trees outside the corridor that could potentially cause damage to the electric system.
When a potential tree issue is identified, additional ground-level inspections are scheduled and remedial actions are completed.
JCP&L also performs annual aerial inspections of transmission towers, substations and other electrical equipment. In addition to the aerial patrols, the company expects to trim trees along 3,400 miles of distribution lines this year at a cost of approximately $28 million as part of its annual tree trimming program to help enhance reliability of service.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
Editor's Note: A photo of the helicopter used for forestry inspections in the JCP&L service area is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., June 28, 2016 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has begun construction of a new 34.5-kilovolt (kV) power line paralleling State Route 259 as part of a project to enhance service reliability for more than 2,200 customers in rural Hardy County, W.Va., including a nearby compressor station for a major natural gas pipeline.
"This project is designed to minimize the number of customers affected if a service interruption occurs in southeastern Hardy County," said James A. Sears, Jr., vice president of Potomac Edison. "The new power line and substation ultimately will allow us to divide the existing distribution circuit, which at 270 miles is the longest in Potomac Edison's service area, into three circuits that provide electricity to roughly 700 customers each."
The new 14.5-mile power line is the centerpiece of the $5 million project, which will link an existing substation near Baker, W.Va., to a new substation that will be built in Mathias, W.Va., in 2017. Potomac Edison line crews currently are working in the Mathias area, setting 300 new 50-foot wooden utility poles that will carry the new line in existing right-of-way or new right-of-way near Route 259.
The new substation will include three transformers and be located adjacent to a natural gas compressor station in Hardy County. The new line and substation are expected to be completed and energized by the end of December 2017.
Potomac Edison serves about 257,000 customers in seven Maryland counties and 137,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of Potomac Edison's new electric line in Hardy County, W.Va., are available for download on Flickr.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., June 24, 2016 /PRNewswire/ -- The FirstEnergy Foundation will contribute $25,000 to the West Virginia American Red Cross to support relief efforts for West Virginia customers affected by heavy flooding after up to 10 inches of rain fell across the region this week. FirstEnergy (NYSE: FE) is the parent company of Mon Power.
After this week's rain, 44 West Virginia counties were placed under a state of emergency. Mon Power crews continue working across the area to make repairs and restore service. Some areas remain flooded and repairs in those areas will be delayed until flood waters subside and the system can be examined for damages.
"While there is still work ahead, we are also pleased to be able to support the efforts of the West Virginia American Red Cross, which continues to provide vital services and support for the people devastated by this severe storm," said Holly Kauffman, president of West Virginia operations for FirstEnergy.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company has facilities.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 24, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has completed upgrades on 15 major circuits serving nearly 28,000 customers in Burlington, Hunterdon, Mercer, Monmouth, Morris, Ocean, Somerset and Warren counties.
The projects are part of an annual process to proactively identify and upgrade distribution lines across JCP&L's service area. Through its annual circuit upgrade program, JCP&L audits reliability statistics to identify circuits that require a customized plan to boost their performance. This year, JCP&L plans to invest $4.5 million to enhance the reliability of nearly 100 distribution lines across northern and central New Jersey.
"Our circuit upgrade program helps enhance service reliability by modernizing our distribution system with equipment that can help prevent or reduce the duration of service interruptions for our customers," said Tony Hurley, vice president of Operations for JCP&L. "These proactive investments helped JCP&L achieve its best service reliability record in more than a decade last year, including a 33 percent reduction in system outage duration and a 19 percent improvement in customer restoration times. In addition, our tree trimming and vegetation management programs have reduced tree-related outages more than 38 percent."
Upgrade work includes the installation of more resilient fuses, animal guards and lightning protection devices; enhancing tree trimming efforts; replacing wooden cross-arms at the top of utility poles that are showing signs of wear; and installing fault indicators that help pinpoint problem areas, helping to speed the restoration process if an outage occurs. The 2016 upgrades also include the installation of automatic tie recloser technology, which allows JCP&L to automatically detect and isolate the location of a fault so the vast majority of customers served by the line can be restored quickly while repairs are made specifically where the damage occurred.
Circuit upgrades were completed in the following counties and municipalities:
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., June 21, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has completed a $1.7 million cable replacement project in Springfield Township, Union County, adding resiliency to the electric system and enhancing reliability for customers in the area.
The work, which was performed by JCP&L transmission and mobile construction crews, included installing 30 new utility poles, adding new transformers, capacitors and fuses and stringing more than 4,000 feet of wire. The project started in September and was completed in April.
"This project makes our system in the Springfield Township area more resilient, which is especially beneficial to critical customers such as Overlook Hospital and New Jersey Transit," said Tony Hurley, JCP&L vice president of Operations. "By doing proactive upgrades like this one, our goal is to enhance service reliability and further minimize the duration and frequency of potential service interruptions."
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
Editor's Note: Photos of work on the project are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 20, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that President and Chief Executive Officer Charles E. Jones will give a presentation at the J.P. Morgan Energy Equity Investor Conference on Monday, June 27, 2016, at approximately 4:20 p.m. EDT. The presentation will include a general overview of FirstEnergy, as well as an update on the company's progress on key initiatives and longer-term goals.
A live webcast of the presentation will be available on FirstEnergy's investor information website, www.firstenergycorp.com/ir, by clicking the J.P. Morgan Energy Equity Investor Conference link. The webcast also will be archived on FirstEnergy's website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 9, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) recently issued its 2016 Sustainability Report, which details how the company is making a switch to a cleaner energy future as it continues to provide safe and reliable electric service to customers. The report is available in the environmental section of the company's website at www.firstenergycorp.com.
"At FirstEnergy, our mission is to make customers' lives brighter, the environment better and our communities stronger," said Charles E. Jones, president and chief executive officer of FirstEnergy. "The information in the Sustainability Report illustrates what FirstEnergy already has accomplished in terms of environmental achievements and what our goals are for cleaner and more sustainable energy in the future."
FirstEnergy's recent key environmental milestones include:
The 70-page Sustainability Report also includes information about FirstEnergy's economic development efforts, safety record, customer service reliability and contributions made by the FirstEnergy Foundation to community-based organizations.
The Sustainability Report complements the environmental campaign FirstEnergy launched earlier this year. "The Switch is On" highlights FirstEnergy's environmental accomplishments, its transition to cleaner energy sources and a green energy option from FirstEnergy Solutions for residential customers in Ohio and Pennsylvania. The campaign includes a dedicated website – www.theswitchison.com – which provides information about the company's environmental goals and efforts.
FirstEnergy supports the environmental campaign with enhanced environmental messaging on its corporate website and through its social media channels with information such as tips for consumers on how to conserve energy and updates on the company's environmental initiatives.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 7, 2016 /PRNewswire/ -- The FirstEnergy Corp. (NYSE: FE) Board of Directors has elected Ketan K. Patel vice president, Corporate Secretary and Chief Ethics Officer. The change is effective July 1, 2016.
Patel has been director, Real Estate and Facilities, at FirstEnergy since 2012. In his new role he will serve as a primary liaison to the Board of Directors and oversee the Corporate, Real Estate and Records & Information Compliance departments. Patel will report to Leila Vespoli, executive vice president, Corporate Strategy, Regulatory Affairs & Chief Legal Officer. He replaces Rhonda Ferguson, who is leaving the company to pursue other opportunities.
"Ketan has a broad legal background and experience as a corporate advisor," Vespoli said. "I am confident that his 'can-do' attitude, knowledge and skills will be valuable assets as he moves into this important role."
Before joining FirstEnergy, Patel was a partner in the real estate group at McDonald Hopkins LLC. Previously, he served as associate general counsel at DDR Corp., a national real estate investment trust, leading the Corporate and Transaction group. From 2003 until 2005, Patel was vice president and general counsel for BioEnterprise Corporation in Cleveland, and from 2000 until 2003 he was an associate with McKinsey & Company, where he counseled senior executives and boards on strategic and organizational issues. Patel began his legal career in 1995 with McDonald Hopkins LLC in Cleveland.
Patel graduated cum laude from Princeton University with a B.S.E. in Electrical Engineering and received his law degree from the University of Michigan Law School.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: A photo of Patel is available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, June 3, 2016 /PRNewswire/ -- Nuclear, coal and natural gas generating stations owned by FirstEnergy Corp. (NYSE: FE) in Ohio, Pennsylvania and West Virginia today have completed preparations that support reliable operations during the hot summer months.
The National Weather Service has predicted that most of the continental United States, including areas served by FirstEnergy's utilities, will experience above-average temperatures from June through August 2016. The comprehensive preventive maintenance work performed at FirstEnergy's three non-emitting nuclear facilities, six coal-fired generating stations and six natural gas and oil plants will help the company meet customers' electricity needs when air conditioning use increases.
"Preparing to meet the higher electricity demands of summer through safe, clean and reliable operations is our main objective at this time of year," said Jim Lash, president, FirstEnergy Generation. "We have invested thousands of hours completing summer preparation activities, and our plants are ready to meet customer needs as energy consumption rises along with the temperature."
To prepare for warmer temperatures, plant operators inspect and perform maintenance on air conditioning, ventilation fans and other cooling systems; perform water treatments to prevent algae and zebra mussel growth in cooling towers and condensers; clear trenches and sumps in preparation for heavy rains; and closely monitor for severe weather. Summer operation procedures are thoroughly reviewed to help ensure safe and reliable plant performance during extreme heat conditions. FirstEnergy will also stay in close contact with PJM Interconnection, the regional grid operator, to avoid scheduling plant maintenance work during periods of high electricity demand.
Summer preparations also were supported through activities completed during scheduled maintenance outages at FirstEnergy generating facilities this spring. At the Davis-Besse Nuclear Power Plant in Ohio, two new 9,000-horsepower motors were installed to drive pumps providing 100,000 gallons of water per minute to the reactor. Drone technology was used to inspect exterior piping and bolts at the Springdale Natural Gas Plant in Pennsylvania to ready the facility's environmental equipment for the summer operating period. The coal-fired Fort Martin Power Station in West Virginia completed installation of state-of-the-art environmental controls that help ensure the plant is meeting new mercury emissions limits.
FirstEnergy owns or controls a total generating capacity of nearly 17,000 megawatts across Ohio, Pennsylvania, West Virginia, New Jersey, Virginia and Illinois. (One megawatt powers approximately 1,000 homes.) In addition to its nuclear, coal, and natural gas and oil facilities, the company also generates electricity at nine hydro and wind facilities. Collectively, these assets produced nearly 24.5 million megawatt hours of electricity from July through September 2015, the hottest months of last year.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., May 26, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) will hold three open house events for community members to learn more about its proposed $75-million Monmouth County Reliability Project (MCRP). JCP&L will provide additional information about the project and answer questions at:
The MCRP has been proposed to enhance service and modernize the electric system. The proposed project includes a new 10-mile, 230-kilovolt transmission line and substation enhancements that will benefit nearly 214,000 customers in Monmouth County. Modern technology will allow JCP&L to monitor and respond to customer power needs.
The proposed transmission line will feature sleek monopoles, rather than the bulky lattice-style towers that were used in the past. It will use an existing public use right-of-way already containing electrical equipment servicing New Jersey Transit's North Jersey Coast rail line. Following necessary approvals, the MCRP will provide approximately 245 temporary jobs while it is being built between June 2017 and June 2019.
For additional information about the MCRP, visit www.monmouthreliability.com or call 855-277-9332.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 19, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is offering education grants for creative classroom projects involving science, technology, engineering and mathematics (STEM) planned for the 2016-2017 school year.
STEM Classroom Grants of up to $1,000 will be awarded for teacher professional-development initiatives and creative, individual classroom projects for grades pre-kindergarten through 12. The grants are available to educators and youth group leaders located in communities served by FirstEnergy's 10 electric operating companies, and in communities where the company has facilities or does business.
"In the energy industry we need and value innovation, especially as our business continues to change and evolve," said Dee Lowery, vice president, Corporate Affairs and Community Involvement. "By encouraging innovative classroom experiences, FirstEnergy is supporting the next generation of engineers, scientists, accountants, information technologists and electricians who will one day help shape our industry's future."
STEM grant applications must be submitted by September 23, 2016. Visit www.firstenergycorp.com/STEM for additional information on grant criteria and to apply. Grants will be awarded based on the recommendations of the FirstEnergy Education Advisory Council. Winners will be notified by October 14, 2016.
More than 1,000 STEM grants have been awarded to educators and youth group leaders.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., May 19, 2016 /PRNewswire/ -- Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is proposing the Monmouth County Reliability Project (MCRP) to enhance service and modernize the electric system. The project will include a new, nearly 10-mile, 230-kilovolt transmission line and substation enhancements that will benefit approximately 214,000 customers. The plan requires approval by the New Jersey Board of Public Utilities (BPU) and New Jersey Department of Environmental Protection.
"We know customers are expecting more from their electric utility, and it's our responsibility to deliver the power they need when they need it. The Monmouth County Reliability Project will help us provide the consistent, reliable electricity our customers depend on in their daily lives," said Tony Hurley, vice president of Operations at JCP&L. "We look forward to working with the community to ensure the project results in minimal impacts and maintains the unique beauty of our area."
The proposed upgrades will allow JCP&L to better monitor and more quickly react to power needs with modern technology that delivers real-time information about system conditions. Sleek monopoles will be used for the proposed transmission line, rather than the bulky lattice-style towers that were used in the past. The line will be built on an existing public use right-of-way already containing electrical equipment servicing New Jersey Transit's North Jersey Coast rail line. The MCRP will provide approximately 245 temporary jobs during construction.
JCP&L will host a series of face-to-face open house events in neighborhoods near the proposed project to share more information and gather feedback from interested parties. Additional details also are available online at www.monmouthreliability.com.
The project is part of JCP&L's multi-year, $250 million "Energizing the Future" transmission system reliability enhancement program. PJM Interconnection, the organization that oversees the electrical grid across 13 states and the District of Columbia, has identified the MCRP as necessary, and it should be built to reduce the length and frequency of service disruptions in Monmouth County. If approved, construction is expected to begin in June 2017, with a planned in-service date of June 2019.
JCP&L is a subsidiary of FirstEnergy Corp. JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 18, 2016 /PRNewswire/ -- Electricity demand could be at an all-time high in downtown Cleveland when the Republican National Convention takes center stage in July of 2016. FirstEnergy Corp. (NYSE: FE) and The Illuminating Company have spent more than $3 million on infrastructure inspections, maintenance and employee training, including a series of readiness exercises, to help ensure reliable electric service for the week-long event.
The electricity being used in downtown Cleveland on a typical July day is about six megawatts (MW), with one MW equaling the amount of electricity used to power about 1,000 homes. During the convention, the company anticipates that power usage could jump an additional 3-4 MW, especially if the weather is hot and humid.
"Our system in downtown Cleveland was designed to safely handle the increased electrical load expected during the Republican National Convention," said John Skory, regional president, The Illuminating Company. "With the inspections and maintenance we have completed, combined with readiness exercises and other employee training we have conducted, our goal is to maintain the same level of reliable electric service for the convention that we currently provide our Cleveland and northeast Ohio customers on a daily basis."
Comprehensive Inspections and Maintenance Completed at Key Locations
While the event doesn't begin until July 18, The Illuminating Company is aiming to have all field work, inspections, repairs, and functional tests in downtown Cleveland completed before the end of May.
As part of this process, The Illuminating Company has completed comprehensive inspections, done maintenance work on the electrical equipment, and tested back-up systems at Quicken Loan Arena and the Cleveland Convention Center, the two main venues being used for convention events.
The preparation efforts also have included inspecting electric equipment serving hotels, entertainment venues, local airports and other facilities that are expected to be busy in Cleveland and surrounding areas, including those in Cuyahoga, Lake, Lorain, Medina and Summit counties, as a result of the estimated 50,000 visitors being in northeast Ohio for the convention activities.
Readiness Drills Conducted Involving Multiple Scenarios; Employees Will Be Pre-Staged at Key Downtown Locations
In addition to the inspections, on Thursday, May 5, a series of emergency readiness exercises were conducted to help ensure employees are well prepared for a variety of scenarios that could affect electric service during the convention, including severe weather, equipment-related issues, or other events.
"Our employees have been working hard since last year to ensure that our system is ready for the convention," said Skory. "Whether it be a summer storm, a heatwave, or increased vehicle and pedestrian traffic in Cleveland affecting our employees' ability to quickly access locations in the downtown area, we will be ready to safely and effectively keep the lights on for our out-of-town visitors and regular customers."
Plans also are being finalized to pre-stage employees and equipment 24/7 at Quicken Loan Arena, the Convention Center, the Illuminating Company's line shop on E. 24th Street, and substations serving downtown Cleveland to ensure an immediate response, if needed. Employees staged at these key facilities will undergo background checks in order to be able to access the secure zone.
During the run of the Republican National Convention, all Illuminating Company employees will be available for assignment. Thousands of other FirstEnergy employees also will be involved, as needed, including those from its Ohio Edison, Toledo Edison, Pennsylvania Power and Pennsylvania Electric Company utilities, to help maintain electric service outside the downtown Cleveland area, as needed, during the event. Overall, more than 500 Illuminating Company and FirstEnergy employees have been actively involved in preparation efforts.
The company's preparation efforts have been coordinated with local, state and federal officials and agencies, including the City of Cleveland and Cleveland Public Power, the Regional Transit Authority, the United States Secret Service and Department of Homeland Security, and the company hired by the Republican National Committee to stage the event.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of some of the work that has been done by The Illuminating Company and FirstEnergy to prepare for the Republican National Convention in Cleveland this July are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 18, 2016 /PRNewswire/ -- Electricity demand could be at an all-time high in downtown Cleveland when the Republican National Convention takes center stage in July of 2016. FirstEnergy Corp. (NYSE: FE) and The Illuminating Company have spent more than $3 million on infrastructure inspections, maintenance and employee training, including a series of readiness exercises, to help ensure reliable electric service for the week-long event.
The electricity being used in downtown Cleveland on a typical July day is about six megawatts (MW), with one MW equaling the amount of electricity used to power about 1,000 homes. During the convention, the company anticipates that power usage could jump an additional 3-4 MW, especially if the weather is hot and humid. For comparison, that is about three times the amount of power generated by FirstEnergy's Perry Nuclear Power Plant.
"Our system in downtown Cleveland was designed to safely handle the increased electrical load expected during the Republican National Convention," said John Skory, regional president, The Illuminating Company. "With the inspections and maintenance we have completed, combined with readiness exercises and other employee training we have conducted, our goal is to maintain the same level of reliable electric service for the convention that we currently provide our Cleveland and northeast Ohio customers on a daily basis."
Comprehensive Inspections and Maintenance Completed at Key Locations
While the event doesn't begin until July 18, The Illuminating Company is aiming to have all field work, inspections, repairs, and functional tests in downtown Cleveland completed before the end of May.
As part of this process, The Illuminating Company has completed comprehensive inspections, done maintenance work on the electrical equipment, and tested back-up systems at Quicken Loan Arena and the Cleveland Convention Center, the two main venues being used for convention events.
The preparation efforts also have included inspecting electric equipment serving hotels, entertainment venues, local airports and other facilities that are expected to be busy in Cleveland and surrounding areas, including those in Cuyahoga, Lake, Lorain, Medina and Summit counties, as a result of the estimated 50,000 visitors being in northeast Ohio for the convention activities.
Readiness Drills Conducted Involving Multiple Scenarios; Employees Will Be Pre-Staged at Key Downtown Locations
In addition to the inspections, on Thursday, May 5, a series of emergency readiness exercises were conducted to help ensure employees are well prepared for a variety of scenarios that could affect electric service during the convention, including severe weather, equipment-related issues, or other events.
"Our employees have been working hard since last year to ensure that our system is ready for the convention," said Skory. "Whether it be a summer storm, a heatwave, or increased vehicle and pedestrian traffic in Cleveland affecting our employees' ability to quickly access locations in the downtown area, we will be ready to safely and effectively keep the lights on for our out-of-town visitors and regular customers."
Plans also are being finalized to pre-stage employees and equipment 24/7 at Quicken Loan Arena, the Convention Center, the Illuminating Company's line shop on E. 24th Street, and substations serving downtown Cleveland to ensure an immediate response, if needed. Employees staged at these key facilities will undergo background checks in order to be able to access the secure zone.
During the run of the Republican National Convention, all Illuminating Company employees will be available for assignment. Thousands of other FirstEnergy employees also will be involved, as needed, including those from its Ohio Edison, Toledo Edison, Pennsylvania Power and Pennsylvania Electric Company utilities, to help maintain electric service outside the downtown Cleveland area, as needed, during the event. Overall, more than 500 Illuminating Company and FirstEnergy employees have been actively involved in preparation efforts.
The company's preparation efforts have been coordinated with local, state and federal officials and agencies, including the City of Cleveland and Cleveland Public Power, the Regional Transit Authority, the United States Secret Service and Department of Homeland Security, and the company hired by the Republican National Committee to stage the event.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of some of the work that has been done by The Illuminating Company and FirstEnergy to prepare for the Republican National Convention in Cleveland this July are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 17, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) Board of Directors today elected Leila Vespoli to executive vice president, Corporate Strategy, Regulatory Affairs, and chief legal officer, a move that reflects the company's focus on more customer-centered, regulated growth. The change will be effective on May 17.
Vespoli, who had been executive vice president, Markets, and chief legal officer, will continue reporting to FirstEnergy President and Chief Executive Officer Charles E. Jones.
"As a key member of the FirstEnergy executive leadership team since 2001, Leila has helped guide the company through a variety of complex regulatory challenges," said Jones. "Today, her extensive knowledge and experience are helping to shape and implement our growth strategy, while keeping rates affordable for our customers."
Vespoli's key responsibilities of corporate strategy, regulatory affairs and legal matters are closely aligned with the company's regulated priorities. She also will maintain responsibility for Federal, State and Local Governmental Affairs and Economic Development, Rates, Corporate Affairs & Community Involvement, Business Development, and the Corporate Department which includes Real Estate and Records Management. Vespoli will continue to chair the FirstEnergy Foundation.
In a related matter, the company's competitive retail operations, including FirstEnergy Solutions (FES), which was previously part of Vespoli's organization, will now be under Jones. Donald R. Schneider remains president of FES.
Vespoli began her career in 1984 as an associate attorney with Ohio Edison. After a series of promotions, she was appointed associate general counsel in 1997, named vice president and general counsel in 2000, senior vice president and general counsel in 2001, executive vice president and general counsel in 2008, and executive vice president, Markets, and chief legal officer in 2013.
Vespoli graduated from Miami University with a Bachelor of Science degree in Business Economics and earned a Juris Doctor degree from the Case Western Reserve University School of Law. She completed the Massachusetts Institute of Technology's Reactor Technology Course and attended the Northwestern University Kellogg School of Management's Director Development Program that prepares high-potential executives to serve on corporate boards.
An active member in the community, Vespoli serves on a number of professional boards and committees. She is on the boards of Summa Health, Playhouse Square and The University of Akron Foundation. She chairs the Summa Health Compensation Committee and serves on the health system's Audit & Compliance Committee.
Vespoli is a recipient of The Ohio Diversity Council's Most Powerful and Influential Women Award, The University of Akron's Honorary Alumni Award and was inducted into the Case Western Reserve University School of Law Society of Benchers. She was honored by Crain's Cleveland Business with its 2012 General Counsel Award. Vespoli also has been recognized as one of the YWCA's Women of Professional Excellence. In addition, this year she was honored with the Pioneer Award by the Summit County Historical Society and the Women's History Project of the Akron Area.
A photo of Vespoli is available on Flickr at www.flickr.com/firstenergycorp.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., May 17, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) will conduct its annual emergency readiness exercise on May 18 to review the company's storm restoration process and test the Incident Command System (ICS) plan.
ICS is a nationally recognized and accepted emergency management process used by all levels of government – federal, state, tribal and local – as well as by many non-governmental organizations and those in the private sector to coordinate the response to major storms or other natural disasters. JCP&L implemented ICS in 2013.
The exercise will simulate real-time events, prepare employees assigned to storm restoration duties and introduce storm process enhancements. Overall, approximately 100 company employees from the Operations, Engineering, Communications, External Affairs, Customer Support, Facilities and Planning and Analysis groups will be involved in the exercise, which will be held at JCP&L's Red Bank headquarters. In addition, representatives from the New Jersey Board of Public Utilities will observe.
"Our company's storm restoration process has been recognized numerous times by electric industry organizations over the years for its effectiveness, which is proof that these training exercises work," said Tony Hurley, JCP&L vice president of Operations. "The drills provide opportunities for our employees to sharpen their skills as we head into the spring and summer storm season. Along with our ongoing infrastructure enhancements, these exercises are another way we enhance service reliability for our customers."
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 17, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) President and Chief Executive Officer Charles E. Jones told shareholders at today's Annual Meeting that the company has made good progress on a number of its key initiatives, while focusing its efforts on achieving more regulated, customer-centered growth.
Calling 2015 a "productive and pivotal year for FirstEnergy," Jones cited the company's achievements including the continued success of a multi-year transmission investment program, solid results from a cash flow improvement initiative, and the launch of a new branding campaign that showcases the company's environmental commitment.
"These and many other accomplishments in 2015 and so far this year reflect the dedicated efforts of our employees and their longstanding commitment to provide safe, reliable, clean and affordable electricity to our customers," Jones said. "FirstEnergy's continued success is a tribute to their hard work and resourcefulness."
Jones also provided an update on the company's rate plans in Ohio, New Jersey and Pennsylvania, noting that FirstEnergy's overall goal is to ensure that the revenues earned by its utilities reflect the true cost of providing customers with the level of service they expect and deserve.
During his remarks, Jones introduced FirstEnergy's new mission statement: "We are a forward-thinking electric utility powered by a diverse team of employees committed to making customers' lives brighter, the environment better and our communities stronger."
"This statement resonates with our team because it seems to perfectly summarize where we stand today as a company," Jones said. "It speaks to our proud tradition of providing a basic, essential and primarily regulated service to homes and businesses throughout this region; the spirit of innovation that has enabled us to overcome the challenges we have faced over the years; a workforce that will become even more diverse in the years ahead; and a recognition that diversity will be one of our key strengths.
"It also speaks to the many benefits of a product that brings comfort, convenience, safety and productivity to our 6 million customers," Jones said, "And it speaks to our responsibility to the communities we are privileged to serve and the natural resources that sustain the planet."
A transcript of Jones' prepared remarks can be found here.
FirstEnergy also announced preliminary voting results from its 2016 Annual Meeting. Shareholders reelected each of the 14 nominees to the company's Board of Directors, ratified the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm, and approved an advisory vote on named executive officer compensation.
Based on preliminary results, management proposals to amend the company's governing documents to replace existing supermajority voting requirements with a simple majority voting power threshold under certain circumstances and to amend the company's Amended Code of Regulations to permit proxy access, as well as non-binding shareholder proposals related to lobbying and climate change, each failed to receive the requisite vote. Non-binding shareholder proposals related to a director election majority vote standard and simple majority vote each received at least a majority of shares cast.
All preliminary voting results are subject to final certification.
The following directors were elected to one-year terms:
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 10, 2016 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, returned to service at 11:07 p.m. on May 9, 2016, following a March 26 shutdown for refueling and maintenance. The 908-megawatt plant is currently operating at approximately 45 percent power and is expected to reach full power in the next week.
During the refueling outage, approximately one third of the plant's 177 fuel assemblies were exchanged. In addition, numerous inspections and preventative maintenance and improvement projects were completed to ensure continued safe and reliable operations, including examinations of the unit's reactor head and vessel, turbine, electrical generator and various pumps, motors and valves.
Numerous outage projects will help support Davis-Besse as it prepares to enter its 20-year period of extended operation. The plant's two steam generators, which convert heated water to super-heated steam that turns the plant's turbine to create electricity, were inspected during the outage. These inspections confirmed that Davis-Besse's steam generators, newly installed in 2014, are performing at industry-leading levels following their first operating cycle. In addition, two of the plant's four 50-ton, 16-foot tall reactor coolant pump motors were replaced, and a new emergency feedwater facility was constructed to provide an additional backup supply of power and water to the plant.
Prior to beginning the refueling and maintenance outage, Davis-Besse Nuclear Power Station had operated safely and reliably, generating more than 14.5 million megawatt hours of electricity since the completion of its last refueling in May 2014.
FirstEnergy Corp. is a diversified energy company headquartered in Akron, Ohio. Its FENOC subsidiary also operates the Beaver Valley Power Station in Shippingport, Pa. and the Perry Nuclear Power Plant in Perry, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter: @Perry_Plant, @BVPowerStation, and @DavisBesse.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., May 3, 2016 /PRNewswire/ -- Mon Power, a FirstEnergy Corp. (NYSE: FE) utility, announced today that it has ratified a new five-year contract agreement with employees represented by the International Brotherhood of Electrical Workers (IBEW) Local 2357.
The new agreement runs through February 2021 and includes wage increases in each year of the contract, as well as provisions intended to help enhance operational performance and service reliability for Mon Power customers.
"Our employees respond to our customers 24/7, often during severe weather in challenging terrain, to provide safe and reliable electric service," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "Ratifying this contract shows IBEW Local 2357's willingness to work together to continue to provide the high level of service our customers expect from Mon Power."
IBEW Local 2357 represents more than 180 Mon Power line workers, substation electricians, meter readers and other service and support personnel at service centers in Clarksburg, Gassaway, Kingwood, Morgantown, Webster Springs, Weirton and Weston-Buckhannon. The local union also represents 30 mechanical and electrical mobile maintenance employees based in Fairmont.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, May 2, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio utilities today asked the Public Utilities Commission of Ohio (PUCO) to consider modifications to their recently approved Electric Security Plan (ESP IV) that would help protect customers from future retail price increases.
Today's rehearing request seeks to allow the FirstEnergy Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison – to use a rate mechanism to protect customers against long-term price increases and volatility by applying credits or charges to monthly electric bills.
Customers would receive credits or charges on their monthly electric bills based on the projected plant cost calculations and electric output contained in the recently approved ESP IV. Based on this information, the plan is expected to save customers hundreds of millions of dollars during its eight-year term, between June 1, 2016 and May 31, 2024, and the credits or charges would be reviewed by the PUCO both quarterly and annually.
If approved, the modified ESP IV would preserve the comprehensive benefits contained in the original plan by offering energy efficiency programs, evaluating smart grid technologies and providing low-income customer assistance.
Since the proposal is based almost entirely on evidence in the record at the PUCO, the FirstEnergy Ohio utilities are seeking a decision on their request by May 25, 2016.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically the order issued by the Federal Energy Regulatory Commission (FERC) that rescinds the waiver regarding the Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) by and between FirstEnergy Solutions Corp. and The Cleveland Electric Illuminating Company, Ohio Edison Company, and The Toledo Edison Company, and other future rehearing requests, complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors.
The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., April 28, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) today filed an electric rate plan with the New Jersey Board of Public Utilities (BPU) that supports and builds on the significant service reliability and customer service improvements made by the utility in recent years. This rate request is expected to benefit customers by sustaining ongoing tree trimming, inspections of lines, poles and substations, and maintenance for newly installed equipment that enhances and modernizes the electric system.
Since 2012, JCP&L has invested more than $612 million in service-related enhancement projects, provided field staff with tablets and smart phones to support faster power restoration, partnered with IBEW Local 102 and 400 for major storm response, and updated online and mobile technologies to provide more timely information to customers. These recent investments helped JCP&L achieve its best service reliability record in more than a decade last year, including a 33 percent reduction in system outage duration and a 19 percent improvement in customer restoration times. In addition, the utility's tree trimming and vegetation management programs have reduced tree-related outages more than 38 percent.
"While JCP&L's rates have remained stable and even declined over the past decade, the cost of providing reliable electric service has increased," said Jim Fakult, president of JCP&L. "It's our job to provide dependable electricity to our growing customer base for their homes, businesses and communities, and this rate plan will help us deliver on this commitment."
Even with the proposed increase, JCP&L would continue to offer the lowest residential electric rates among New Jersey's four regulated electric distribution companies. The company's rate request totals $142 million. If approved, it would result in a 6 percent overall rate increase for the average JCP&L residential customer using 650 kilowatt hours per month – a monthly increase of $5.58.
The filing was made in compliance with a BPU order issued last year in the company's 2012 rate case. The public is invited to comment on the filing through the BPU's public comment process, and JCP&L will participate in public meetings about the plan. The company has requested that the new rates be effective on January 31, 2017.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically related to a complaint filed at the Federal Energy Regulatory Commission (FERC) against FirstEnergy Solutions Corp., The Cleveland Electric Illuminating Company, Ohio Edison Company, and The Toledo Edison Company that request FERC review the Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) under Section 205 of the Federal Power Act, and other future complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
READING, Pa., April 28, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Pennsylvania utilities today filed electric rate plans with the Pennsylvania Public Utility Commission (PUC) aimed at enhancing electric system reliability for more than two million customers across the state.
FirstEnergy's Pennsylvania utilities include Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power Company (Penn Power), and West Penn Power Company (West Penn Power).
The proposed rate plans are expected to benefit customers by continuing FirstEnergy's service reliability enhancement efforts in Pennsylvania. The plans include continued work to modernize the grid with smart technologies that can prevent or shorten power outages, additional tree trimming activities to protect poles and wires, and updating tablets and smart phones used by utility field staff to help streamline the power restoration process.
"Enhancing service reliability has been a major focus for us in Pennsylvania, and we've made significant strides in that area," said Linda Moss, president of Pennsylvania Operations for FirstEnergy. "Today's requests will allow our utilities to build on our progress in serving our customers, including ongoing maintenance for the new equipment and facilities we have added over the past several years."
FirstEnergy's rate request totals $439 million across all four Pennsylvania utilities. If approved, monthly bills would increase on average in the range of $10.89 to $23.61, or about 9.64 to 17.1 percent, for a typical FirstEnergy Pennsylvania residential electric customer using 1,000 kilowatt-hours (kWh) per month. The average monthly bill for customers of FirstEnergy's four Pennsylvania utilities would be in line with the statewide average for typical residential customers served by the three other major electric utilities in Pennsylvania.
Here are the specifics for each utility's rate plan:
Pending PUC approval, FirstEnergy has requested that the new rates take effect on June 27, 2016. The process, however, could take up to an additional seven months. For additional information on the plan, customers may call the company at 1-800-545-7741.
Met-Ed serves 560,000 customers within 3,300 square miles of eastern and south central Pennsylvania. Penelec serves nearly 590,000 customers within 17,600 square miles of western, northern and south central Pennsylvania. Penn Power serves approximately 163,000 customers within 1,100 square miles of western Pennsylvania. West Penn Power serves approximately 721,000 customers within 10,400 square miles of central and southwestern Pennsylvania.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically related to a complaint filed at the Federal Energy Regulatory Commission (FERC) against FirstEnergy Solutions Corp., The Cleveland Electric Illuminating Company, Ohio Edison Company, and The Toledo Edison Company that request FERC review the Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) under Section 205 of the Federal Power Act, and other future complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 26, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today reported first quarter 2016 operating (non-GAAP) earnings* of $0.80 per basic share of common stock. These results exclude the impact of the special items listed below and compare to first quarter 2015 operating (non-GAAP) earnings of $0.62 per basic share of common stock.
On a GAAP basis, the company reported first quarter 2016 net income of $328 million, or $0.78 per basic share of common stock ($0.77 diluted), on revenue of $3.9 billion. In the first quarter of 2015, GAAP net income was $222 million, or $0.53 per basic and diluted share of common stock, on revenue of $3.9 billion.
"We are off to a solid start in 2016, with strong financial results that are in line with our first quarter guidance, as well as positive developments in our key initiatives, and continued implementation of our regulated growth strategies," said Charles E. Jones, FirstEnergy president and chief executive officer.
The increase in first quarter 2016 operating (non-GAAP) earnings primarily reflect higher commodity margin at the competitive business, the net impact of rate cases resolved in 2015, and increased transmission earnings. These factors were partially offset by the impact of mild temperatures on distribution deliveries and higher net financing costs.
In FirstEnergy's Regulated Distribution business, operating earnings decreased primarily due to the impact of mild temperatures on distribution sales, partially offset by the net impact of new rates implemented in 2015.
Total distribution deliveries decreased 8 percent compared to the first quarter of 2015. Mild temperatures resulted in a residential and commercial sales decrease of 13 and 5 percent, respectively. Distribution deliveries to the industrial sector decreased 3 percent, primarily due to lower usage from the steel and coal mining sectors.
In the Regulated Transmission business, first quarter 2016 operating earnings increased as a result of a higher rate base at ATSI, partially offset by a lower return on equity as part of ATSI's FERC-approved comprehensive settlement in October 2015.
In the Competitive Energy Services Segment operating earnings increased compared to the first quarter of 2015 primarily resulting from higher commodity margin as a result of higher capacity revenues related to increased capacity prices.
Consolidated GAAP EPS to Operating (Non-GAAP) EPS* Reconciliation
|
||||||||
First Quarter |
||||||||
2016 |
2015 |
|||||||
Basic Earnings Per Share (GAAP) |
$0.78 |
$0.53 |
||||||
Excluding Special Items*: |
||||||||
Regulatory charges |
0.09 |
0.02 |
||||||
Trust securities impairment |
0.01 |
0.01 |
||||||
Merger accounting – commodity contracts |
0.01 |
0.02 |
||||||
Mark-to-market adjustments |
(0.09) |
— |
||||||
Plant deactivation costs |
— |
0.02 |
||||||
Impact of non-core asset sales/impairments |
— |
0.01 |
||||||
Retail repositioning charges |
— |
0.01 |
||||||
Total Special Items* |
0.02 |
0.09 |
||||||
Basic EPS - Operating (Non-GAAP) |
$0.80 |
$0.62 |
||||||
* Per share amounts for the special items above are based on the after-tax effect of each item, divided by the weighted average basic shares outstanding for the period. |
Non-GAAP financial measures
*Operating earnings exclude special items as shown above, and is a non-GAAP financial measure. Management uses operating earnings and operating earnings by segment to evaluate the company's performance and manage its operations and frequently references these non-GAAP financial measures in its decision making, using them to facilitate historical and ongoing performance comparisons. Additionally, management uses Basic EPS – Operating to evaluate FE's performance by segment and references this non-GAAP financial measures in its decision making. Basic EPS-Operating for each segment is calculated by dividing segment Operating earnings (losses), which exclude specials items as discussed below, by the basic weighted average shares outstanding for the period. Management believes that the non-GAAP financial measures of "Operating earnings" and "Basic EPS – Operating" provide consistent and comparable measure of performance of its businesses to help shareholders understand performance trends. Generally, a non-GAAP financial measure is a numerical measure of a company's historical or future financial performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (GAAP). These non-GAAP financial measures are intended to complement, and are not considered as an alternative to, the most directly comparable GAAP financial measure. Also, these non-GAAP financial measures may not be comparable to similarly titled measures used by other entities.
Consolidated Report and Teleconference
FirstEnergy's Consolidated Report to the Financial Community, which provides highlights on company developments and financial results for the first quarter, is posted on the company's Investor Information website – www.firstenergycorp.com/ir. To access the report, click on First Quarter 2016 Consolidated Report to the Financial Community.
The company invites investors, customers and other interested parties to listen to a live Internet webcast of its teleconference for financial analysts and view slides associated with the presentation at 9:00 a.m. EDT tomorrow. FirstEnergy management will present an overview of the company's financial results, followed by a question-and-answer session. The teleconference and presentation can be accessed on the website by selecting the First Quarter 2016 Earnings Conference Call link. The webcast and presentation will be archived on the website.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy online at www.firstenergycorp.com. Follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including, but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV (ESP IV) in Ohio, specifically related to a complaint filed at the Federal Energy Regulatory Commission (FERC) against FirstEnergy Solutions Corp., The Cleveland Electric Illuminating Company, Ohio Edison Company, and The Toledo Edison Company that request FERC review the Electric Security Plan IV Purchase Power Agreement (ESP IV PPA) under Section 205 of the Federal Power Act, and other future complaints or challenges that could impact the ESP IV and the ESP IV PPA; the impact of the federal regulatory process on FERC-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, Coal Combustion Residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to, the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission (SEC) filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements and risks that are included in our filings with the SEC, including but not limited to the most recent Annual Report on Form 10-K and any subsequent Quarterly Reports on Form 10-Q. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., April 26, 2016 /PRNewswire/ -- Construction crews have begun to raise steel poles for a new FirstEnergy Corp. (NYSE: FE) transmission line in Harrison and Doddridge counties, West Virginia. The project will support the electric demands of the area's established Marcellus Shale gas industry, and help enhance service reliability for nearly 13,000 Mon Power customers around the Clarksburg and Salem areas.
Over the next month, cranes will hoist about 80 steel structures onto recently completed concrete foundations along the 18-mile corridor linking a transmission substation in Clarksburg with one near Sherwood. Crews also will be attaching wire conductor to the poles throughout May.
The new 138-kilovolt (kV) line project is expected to be energized and in service by mid-summer, with about $43 million of the $92 million project to be spent in 2016. The line route parallels an existing FirstEnergy transmission line for about 11 miles north of U.S. Route 50.
"FirstEnergy continues to support West Virginia's important shale gas industry with infrastructure enhancements such as this new transmission line," said Holly Kauffman, FirstEnergy's president of West Virginia Operations. "Natural gas plants and compressor stations are energy intensive operations. It is our job to both keep pace with industry demands and to ensure our longtime customers in the region continue to receive safe and reliable electric service."
A substation near Clarksburg has been expanded, with new circuit breakers added to accommodate the new 138-kV line. The substation near Sherwood, energized in 2014 at a cost of about $56 million, was primarily constructed to support the growing electrical needs of a gas facility nearby, while also benefitting more than 6,000 Mon Power customers along the U.S. Route 50 corridor in Doddridge, Harrison and Ritchie counties with enhanced service reliability.
Mon Power serves about 385,000 customers in 34 West Virginia counties. Visit FirstEnergy on the internet at www.firstenergycorp.com, and follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of FirstEnergy's new transmission line project in Harrison and Doddridge Counties, W.Va., are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 22, 2016 /PRNewswire/ -- Toledo-area residents can help celebrate Earth Day by signing up with FirstEnergy Solutions to receive 100 percent wind energy at the same price as its standard energy offer. This Switch2Green4Free offer – which is part of FirstEnergy's branding campaign called "The Switch is On" – is being showcased during the Party for the Planet at the Toledo Zoo & Aquarium on April 23, 2016.
The Switch2Green4Free offer is designed to increase awareness of the benefits of green energy. Purchasing green energy from FirstEnergy Solutions is an investment in clean, renewable resources that helps to ensure more renewable energy is being created and delivered to the power grid.
At the Toledo Zoo, FirstEnergy will be handing out wildflower seed packets, coloring books, crayons and information on how consumers can enroll in the Switch2Green4Free offer. Children can also get their picture taken with Louie the Lightning Bug.
The energy in the Switch2Green4Free offer is Green-e Energy Certified®. Green-e Energy is the nation's leading independent certification and verification program for renewable energy and greenhouse gas emission reduction products.
For more information about the green energy offer – including pricing and contract lengths – and to enroll, visit TheSwitchIsOn.com or call 1-888-254-6359. This offer is limited to the first 1,000 residential customers to enroll or until May 31, 2016.
FirstEnergy Solutions, a subsidiary of FirstEnergy Corp. (NYSE: FE), provides competitive electric generation supply and other energy-related products and services to more than 1.6 million residential, commercial and industrial customers, and is a licensed supplier in Ohio, Pennsylvania, New Jersey, Maryland, Michigan and Illinois.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 22, 2016 /PRNewswire/ -- Huron-area residents can help celebrate Earth Day by signing up with FirstEnergy Solutions to receive 100 percent wind energy at the same price as its standard energy offer. This Switch2Green4Free offer – which is part of FirstEnergy's branding campaign called "The Switch is On" – is being showcased during the 8th Annual Earth Day Extravaganza at the Osborn MetroPark in Erie County on April 24, 2016.
The Switch2Green4Free offer is designed to increase awareness of the benefits of green energy. Purchasing green energy from FirstEnergy Solutions is an investment in clean, renewable resources that helps to ensure more renewable energy is being created and delivered to the power grid.
At the Osborn MetroPark, FirstEnergy will be handing out wildflower seed packets and information on how consumers can enroll in the Switch2Green4Free offer.
The energy in the Switch2Green4Free offer is Green-e Energy Certified®. Green-e Energy is the nation's leading independent certification and verification program for renewable energy and greenhouse gas emission reduction products.
For more information about the green energy offer – including pricing and contract lengths – and to enroll, visit TheSwitchIsOn.com or call 1-888-254-6359. This offer is limited to the first 1,000 residential customers to enroll or until May 31, 2016.
FirstEnergy Solutions, a subsidiary of FirstEnergy Corp. (NYSE: FE), provides competitive electric generation supply and other energy-related products and services to more than 1.6 million residential, commercial and industrial customers, and is a licensed supplier in Ohio, Pennsylvania, New Jersey, Maryland, Michigan and Illinois.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., April 21, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across the Metropolitan Edison Company (Met-Ed) service area in Pennsylvania as part of its ongoing efforts to help enhance service reliability.
Since the beginning of the year, contractors have trimmed trees along more than 330 miles of distribution and transmission lines in the Met-Ed area as part of the more than $14.7 million vegetation management program for 2016, with an additional 2,270 miles expected to be completed by year end.
"Tree trimming is one of the most important things we do every year to help maintain our electric system," said Ed Shuttleworth, regional president, Met-Ed. "The work we have done over the past several years has made a positive difference in reducing the number of tree-related outages. Our goal is to reduce outages and enhance service reliability even more by protecting our wires and other infrastructure from tree-related damage."
The vegetation management work is conducted by qualified contractors, including Aerial Solutions, Asplundh Tree Expert Company, Davey Tree Expert Company, Lewis Tree Service; Nelson Tree Service Inc., Rotor Blade, Treesmiths and York Tree Service Inc.
During the upcoming months, Met-Ed will be conducting tree trimming work in the following locations: Easton, Gettysburg, Hamburg, Hanover, Lebanon, Reading, Stroudsburg, York and surrounding areas, and Upper Bucks County.
The work includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 21, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across its Pennsylvania Power (Penn Power) service area as part of its ongoing efforts to help maintain proper clearances around electrical equipment and help protect against tree-related outages.
Since the beginning of the year, contractors have trimmed nearly 300 miles of distribution and transmission lines in the Penn Power area as part of the company's more than $11.5 million vegetation management program for 2016, with an additional 800 miles expected to be completed by year end. The total includes $3.3 million to remove unhealthy trees encroaching on rights-of-way before they affect customer service.
"Tree branches interfering with power lines is a leading cause of service disruptions in Penn Power territory," said Randall A. Frame, president of Ohio Edison and Penn Power. "Tree trimming is one of the most important things we do every year to help maintain our electric system and ensure service reliability."
The vegetation management work is conducted by qualified contractors, including Asplundh Tree Expert Company, Davey Tree Expert Company, Nelson Tree Service Inc., Wright Tree Service and Townshend Tree Service.
As part of its notification process, Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to work taking place.
During the next several months, Penn Power will be conducting tree trimming work in the following counties and communities:
The program includes inspecting trees near the lines to ensure they're pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Penn Power is a subsidiary of FirstEnergy Corp. and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power, on Facebook at www.facebook.com/PennPower, and online at www.pennpower.com.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., April 21, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across West Penn Power's 24-county service area in central and western Pennsylvania as part of its ongoing efforts to help enhance system reliability.
Since the beginning of the year, tree contractors have trimmed about 1,200 miles of distribution and transmission lines in the West Penn Power area as part of the approximately $27.4 million vegetation management spend for 2016, with an additional 3,500 miles expected to be completed by year end. The work is done to help maintain proper clearances around electrical equipment and help protect against tree-related outages.
"The tree trimming we have done over the past several years continues to make a noticeable difference keeping the lights on for our customers," said David W. McDonald, president of West Penn Power. "In 2010, trees accounted for one in three power interruptions for West Penn Power customers. By 2015, tree-related outages had been reduced to about one in every five outages. We intend to build on that positive performance to further enhance service reliability for our customers through timely and thorough vegetation management along our rights-of-way, which also includes proactively removing thousands of deteriorated ash trees bordering our electric distribution lines that have been killed or weakened by the Emerald Ash Borer."
The 2016 tree trimming work includes about $3 million to remove dead and dying ash trees. As of early April, nearly 8,000 ash and other trees that could affect electric equipment have been removed.
During the upcoming months, West Penn Power will be conducting tree trimming work in the following counties and communities:
The tree trimming is done on a five-year cycle. Vegetation is inspected and trees are pruned in a manner that helps maintain the health of the tree while also maintaining safe and reliable electric service for customers. In some cases, trees that are considered to present a danger or are diseased may be removed.
As part of its notification process, West Penn Power works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way also are notified prior to vegetation management work being done.
The vegetation management work is conducted by qualified contractors, including Asplundh Tree Expert Company, Jaflo Inc., Lewis Tree Service Inc., Penn Line Service Inc., and Davey Tree Expert Company.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., April 21, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) continues to conduct tree trimming work in communities across the Pennsylvania Electric Company (Penelec) service area as part of its ongoing efforts to help maintain proper clearances around electrical equipment and help protect against tree-related outages.
Since the beginning of the year, contractors have trimmed nearly 500 miles of distribution and transmission lines in the Penelec area as part of the company's more than $26.5 million vegetation management program for 2016, with an additional 3,600 miles expected to be completed by year end.
The tree trimming work in 2016 includes about $4.4 million for a special program to remove dead and dying ash trees damaged by the Emerald Ash Borer. The company expects to proactively remove approximately 42,000 affected ash trees by the end of the year before they potentially cause damage to Penelec's electrical system. Last year, Penelec spent approximately $3.9 million and removed more than 37,000 ash trees. Over the next five years, Penelec's ash tree removal program will cover about 18,000 miles of power line rights-of-way with the expected removal of more than 200,000 affected ash trees.
"Penelec is committed to enhancing customer service and our tree trimming program is one of the most important things we do every year to help maintain our electric system," said Scott Wyman, regional president, Penelec. "By continuing our special ash borer program and on-going vegetation management efforts, our goal is to reduce outages and improve service reliability even more by protecting our wires and other infrastructure from tree-related damage."
The vegetation management work is conducted by qualified contractors, including Aerial Solutions, Asplundh Tree Expert Company, Davey Tree Expert Company, Lewis Tree Service; Nelson Tree Service Inc., Rotor Blade, Treesmiths and York Tree Service Inc.
As part of its notification process, Penelec works with municipalities to inform them of tree trimming schedules. In addition, customers living in areas along company rights-of-way are notified prior to vegetation management work being done.
During the next several months, Penelec will be conducting tree trimming in the following locations: Birmingham, Philipsburg, Brockway, Brookville, Dubois, Johnstown, Westmont, Seward, Central City, Jennerstown, Stoystown, Blairsville, Erie, Harborcreek, Northeast, Edinboro, Union City, Emlenton, Titusville, Martinsburg, Hollidaysburg, Portage, Saxton, Shippensburg, Warren, Bradford, Towanda, Laporte, Monroeton, Mansfield and Franklin Forks.
The program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased also may be removed.
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 19, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the first quarter of 2016 after markets close on Tuesday, April 26. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 9 a.m. EDT on Wednesday, April 27. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
FirstEnergy's first quarter Consolidated Report to the Financial Community will be posted on the investor section of the website after markets close on April 26.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 15, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio utilities today filed comprehensive plans with the Public Utilities Commission of Ohio (PUCO) that would offer a menu of energy efficiency programs aimed at helping customers save energy and money.
The proposed Energy Efficiency and Peak Demand Reduction Portfolio Plans would allow customers of FirstEnergy's Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison – to participate in a wide range of cost-effective programs available between January 1, 2017, and December 31, 2019. The energy efficiency and peak demand reduction programs will provide numerous energy saving opportunities for customers.
The proposed plans are the result of a collaborative process with various stakeholders including environmental groups, consumer advocates and energy efficiency service providers. They outline a three-year plan to reduce over 800,000 megawatt hours of electric consumption annually, which exceeds the annual reduction targets of the energy efficiency mandates that are currently suspended in Ohio.
"Our proposal supports FirstEnergy's transition to a cleaner energy future," said Charles E. Jones, FirstEnergy President and Chief Executive Officer. "Our energy efficiency plans will provide our customers with additional tools to manage their electric use and support environmental benefits."
The FirstEnergy Ohio utilities' proposal offers a wide range of energy conservation measures tailored to a variety of customer segments, including low-income, residential, small commercial, industrial and governmental. Residential and low-income customer programs include:
Today's filings propose a detailed procedural schedule that will ensure a comprehensive review of the plans. FirstEnergy's Ohio utilities have requested a PUCO decision by September 30, 2016, with the plans going into effect on January 1, 2017.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 14, 2016 /PRNewswire/ -- Starting April 15, residents in Ohio and Pennsylvania can help celebrate Earth Day by signing up with FirstEnergy Solutions to receive 100 percent wind energy at the same price as its standard energy offer. This Switch2Green4Free offer is part of FirstEnergy's branding campaign – called "The Switch is On" – that highlights the company's environmental achievements and demonstrates its commitment to a cleaner energy future.
The Switch2Green4Free offer is designed to increase awareness of the benefits of green energy. Purchasing green energy from FirstEnergy Solutions is an investment in clean, renewable resources that helps to ensure more renewable energy is being created and delivered to the power grid.
The energy in the Switch2Green4Free offer is Green-e Energy Certified®. Green-e Energy is the nation's leading independent certification and verification program for renewable energy and greenhouse gas emission reduction products. For more information about the green energy offer – including pricing and contract lengths – and to enroll, visit TheSwitchIsOn.com or call 1-888-254-6359. This offer is limited to the first 1,000 residential customers to enroll or until May 31, 2016.
In addition to providing a green energy offer, FirstEnergy's "The Switch is On" campaign also supports FirstEnergy's recently announced pledge to reduce carbon dioxide (CO2) emissions 90 percent below 2005 levels by 2045. This goal represents a potential reduction of more than 80 million tons of CO2 emissions and is among the most aggressive targets in the utility industry. More information about FirstEnergy's environmental commitment is available at TheSwitchIsOn.com.
FirstEnergy Solutions, a subsidiary of FirstEnergy Corp. (NYSE: FE), provides competitive electric generation supply and other energy-related products and services to more than 1.6 million residential, commercial and industrial customers, and is a licensed supplier in Ohio, Pennsylvania, New Jersey, Maryland, Michigan and Illinois.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 14, 2016 /PRNewswire/ -- Area residents can help celebrate Earth Day by signing up with FirstEnergy Solutions to receive 100 percent wind energy at the same price as its standard energy offer. This Switch2Green4Free offer – which is part of FirstEnergy's branding campaign called "The Switch is On" – is being showcased during EarthFest at the Cuyahoga County Fairgrounds on April 17, 2016.
The Switch2Green4Free offer is designed to increase awareness of the benefits of green energy. Purchasing green energy from FirstEnergy Solutions is an investment in clean, renewable resources that helps to ensure more renewable energy is being created and delivered to the power grid.
FirstEnergy, which is sponsoring the Environmental and Energy Science area at EarthFest, will be handing out wildflower seed packets as well as information on how consumers can enroll in the Switch2Green4Free offer.
The energy in the Switch2Green4Free offer is Green-e Energy Certified®. The Green-e energy is the nation's leading independent certification and verification program for renewable energy and greenhouse gas emission reduction products.
For more information about the green energy offer – including pricing and contract lengths – and to enroll, visit TheSwitchIsOn.com or call 1-888-254-6359. This offer is limited to the first 1,000 residential customers to enroll or until May 31, 2016.
FirstEnergy Solutions, a subsidiary of FirstEnergy Corp. (NYSE: FE), provides competitive electric generation supply and other energy-related products and services to more than 1.6 million residential, commercial and industrial customers, and is a licensed supplier in Ohio, Pennsylvania, New Jersey, Maryland, Michigan and Illinois.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., April 13, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is continuing its 2016 tree trimming program to help maintain proper clearances around electrical equipment and help prevent tree-related damage. The work is part of JCP&L's approximately $28 million tree trimming program scheduled for this year along some 3,400 miles of JCP&L lines across its 13-county service area in northern and central New Jersey.
"Tree trimming played an important role in the greatly enhanced service reliability our customers experienced over the past two years," said Anthony Hurley, JCP&L vice president of Operations. "In 2015, we saw an 11 percent decrease in tree-related outages compared to the previous year. It's important that we continue implementing tree trimming practices that help reduce the frequency and duration of power outages."
JCP&L's tree trimming program is conducted by certified forestry contractors under the company's direction.
As part of the notification process, JCP&L works with municipalities to inform them of vegetation management schedules. In addition, customers living in areas along company rights-of-way are notified prior to work being performed. To further decrease tree-related outages, JCP&L's foresters also are working to educate residents who live near company equipment about the importance of properly maintaining the trees on their own property.
During April, forestry contractors are doing tree work in 70 municipalities in the following counties:
JCP&L's tree program includes inspecting vegetation near the lines to ensure trees are pruned in a manner that helps preserve the health of the tree, while also maintaining safety near electric facilities. Trees that present a danger or are diseased may also be removed.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 7, 2016 /PRNewswire/ -- The National Arbor Day Foundation, in cooperation with the National Association of State Foresters, has recognized FirstEnergy (NYSE: FE) and its 10 electric utilities as a Tree Line USA utility for 18 consecutive years.
The award recognizes investor-owned and public utility companies – electric, gas and water – that promote the dual goals of reliable utility service and healthy trees along America's streets and highways. Award-winning companies demonstrate excellence in tree care, training and public education.
"We're very proud to again be recognized with this important award that highlights our important work striking a balance between service reliability and maintaining the beauty of the communities we serve," said David Karafa, vice president, Distribution Support, FirstEnergy. "Our employees and contractors work hard to learn and use proper tree care techniques to minimize our impact on the environment."
FirstEnergy's tree care program combines the best practices of certified arborists and foresters to keep vegetation away from power lines and other electric equipment, which helps reduce the number and severity of service interruptions.
"Trees are a critical part of urban landscapes all across the United States," said Dan Lambe, president of the Arbor Day Foundation. "Service providers like FirstEnergy show that caring for urban trees is good for business, for customers and for the community."
To achieve the Tree Line USA designation, companies must meet five program standards: follow industry criteria for quality tree care; provide annual training for employees in best tree-care practices; sponsor tree-planting and public education programs on appropriate plantings; maintain a tree-based energy conservation program; and participate in Arbor Day events.
In addition to enhancing service reliability and natural beauty, FirstEnergy's tree trimming programs are designed to help ensure the public safety and the safety of utility line crews, especially during storms and other hazardous conditions.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, April 6, 2016 /PRNewswire/ -- FirstEnergy (NYSE: FE) is expanding a substation in Wampum, Pa., to accommodate new equipment designed to reinforce the regional electric system and enhance service reliability for Pennsylvania Power (Penn Power) utility customers.
The $48 million project includes the installation of specialized voltage-regulating equipment that is designed to respond to real-time electrical conditions, boosting or reducing voltage as needed to maintain consistent levels on the regional transmission network. The substation work also includes installing capacitor banks, circuit breakers, transformers, communications equipment and a small control building. The work at the Hoytdale substation is expected to be completed by early June.
"Adding this equipment is just one of the things we do to maintain a reliable flow of power from one substation to another," said Randall A. Frame, regional president of Ohio Edison and Penn Power. "With many of our customers using specialized equipment that is sensitive to voltage fluctuations, our new equipment is a cost-effective option to help maintain consistent voltage levels and enhance reliability throughout our system."
As part of the construction process, more than 80,000 cubic yards of rock were removed from a football-field-sized piece of land adjacent to the existing Hoytdale substation where the new voltage equipment is being installed.
This voltage-control project is part of FirstEnergy's $4.2 billion "Energizing the Future" transmission initiative, which is designed to upgrade and enhance the company's high-voltage transmission system to make service more reliable and help modernize the transmission grid.
The substation and its new equipment is owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
Penn Power serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power, or on Facebook at www.facebook.com/PennPower.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of work being done on the expanded FirstEnergy substation project in Hoytdale, Pa., are available for download on Flickr.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., April 4, 2016 /PRNewswire/ -- JCP&L expects to restore all customers affected by the weekend's wind storm by midnight tonight. Customers remaining out of service can receive $5 of water and ice, free of charge, simply by showing identification at the customer service desk in any of the following stores:
Acme Supermarkets (a/k/a Albertsons)
Browns Mills, Fair Haven, Freehold, Lincroft, Manasquan and Shrewsbury.
Food Circus (a/k/a/ Foodtown)
Atlantic Highlands, Oakhurst, Port Monmouth, Red Bank, Sea Girt, Toms River and Wall Twp.
Kings
Bedminster, Berkeley Heights, Boonton, Chatham, Florham Park, Morristown and Whitehouse Station.
Kosher West in Lakewood.
Norkus Foodtown in Freehold.
NPGS I, NPGS II and NPGS III in Lakewood.
Park Avenue Grocery (Food Ex) in Lakewood.
Perlmart Shop Rite Stores:
Bayville, Jackson, Lanoka Harbor, Manchester, Toms River and Waretown.
Saker Shop Rite Stores:
Branchburg, Somerville, Aberdeen, Brick, East Brunswick, East Windsor, Freehold, Hazlet, Lakewood, Manasquan, Middletown, Morganville, Neptune, Parlin, Robbinsville, Wall Township and West Longbranch.
Shop Rite Stores:
Stirling, Wharton, Bernardsville, Chatham, Chester, Clinton, Flemington, Hunterdon in Phillipsburg (Greenwich Store), Millburn, Morris, Rockaway, Springfield and Washington.
Weiss Market in Newton.
More than 92,000 customers were affected by the storm, and about 3,000 remain without service. Assisting in the restoration effort are line crews from FirstEnergy's Potomac Edison utility, contractors and hazard responders from IBEW Local 102, who have been trained to assist JCP&L during restoration efforts.
To report a power outage, call 1-888-544-4877.
JCP&L reminds customers to report any downed power lines to the company or local police or fire departments. Never touch downed lines because they may still be carrying electricity. Customers should also never try to remove trees or limbs from power lines.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 31, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) Ohio utilities today announced that the Public Utilities Commission of Ohio (PUCO) approved, with certain modifications, Powering Ohio's Progress, their proposed Electric Security Plan (ESP). The approved plan is the result of a comprehensive settlement reflecting the diverse interests and concerns of 17 signatories, including the PUCO Staff and parties that represent residential, low-income, commercial and industrial customers, as well as competitive energy suppliers, schools and organized labor.
The plan will establish electric service for customers of FirstEnergy's Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison – over an eight-year period from June 1, 2016 through May 31, 2024. It outlines a series of steps to help safeguard customers against rising energy prices in future years, preserve key power plants that serve Ohio customers, reinstate energy efficiency programs, evaluate smart grid technologies, and includes a goal to reduce carbon dioxide (CO2) emissions by at least 90 percent below 2005 levels by 2045. The Commission also added certain additional customer protections.
The plan outlines a new retail rate stability provision related to a proposed eight-year Purchased Power Agreement (PPA) with the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, the W.H. Sammis Plant in Stratton, Ohio, and a portion of the output of Ohio Valley Electric Corporation (OVEC) units in Gallipolis, Ohio, and Madison, Ind. This arrangement will keep a diverse set of fuel sources available to generate electricity, rather than risking more plant closures that put our region at risk of higher energy prices in the years ahead.
"Today's decision will help protect our customers against rising electric prices and volatility in the years ahead, while helping to preserve vital baseload power plants that serve Ohio customers and provide thousands of family-sustaining jobs in the state," said Charles E. Jones, FirstEnergy President and Chief Executive Officer. "The plan will also extend FirstEnergy's longstanding support for the customers and communities we are privileged to serve in Ohio, through a comprehensive settlement reached between our utilities and a broad array of stakeholders."
FirstEnergy's Ohio utilities expect to file new rates with the PUCO by May 2, following the completion of a competitive auction process to buy electric generation supply for their non-shopping customers. FirstEnergy expects that the vast majority of its Ohio utility customers will see lower total bills after these auctions. Over the eight-year term, the arrangement is projected to generate hundreds of millions in customer savings as retail power prices increase over time.
FirstEnergy's plan also establishes a goal to reduce companywide CO2 emissions by at least 90 percent below 2005 levels by 2045. This is among the most aggressive targets in the utility industry, representing a potential reduction of more than 80 million tons of CO2 emissions. A carbon reduction report will be filed by November 1, 2016 highlighting a strategy to promote fuel diversification and carbon reduction, recognizing that energy efficiency, renewable energy resources, and other advanced resources may be part of the strategy.
FirstEnergy also will contribute more than $102 million over the life of the plan to help low-income customers pay their electric bills, as well as provide energy efficiency and economic development funding for low-income customers and communities.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
READING, Pa., March 29, 2016 /PRNewswire/ -- Pennsylvania Electric Company (Penelec), a subsidiary of FirstEnergy Corp. (NYSE: FE), will conduct an emergency readiness exercise on March 31 to review the company's storm restoration process.
About 125 company employees from the Operations, Engineering, External Affairs, Customer Support, Facilities, Distribution and Transmission Control and Planning & Analysis groups will participate in the drill that will be held at Penelec's Distribution Control Center in Erie, Pa.
"FirstEnergy's storm restoration process has been recognized numerous times for its effectiveness by electric industry organizations over the years, which is proof that these training exercises work," said Scott Wyman, regional president of Penelec. "As the summer storm season approaches we want our customers to know our employees remain vigilant about enhancing service reliability."
A team of FirstEnergy and Penelec employees has been preparing for weeks for the drill, which will roughly follow the same time schedule and number of customer outages as an actual storm that occurred in the past. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., March 29, 2016 /PRNewswire/ -- Metropolitan Edison Company (Met-Ed), a subsidiary of FirstEnergy Corp. (NYSE: FE), will conduct two emergency readiness exercises in late March and early April to review the company's storm restoration process.
The first event will be held on March 31 and will focus on Met-Ed's western areas, including York, Lebanon, Hamburg, Dillsburg, Gettysburg, and Hanover. The second exercise will be held on April 7 and will focus on Met-Ed's eastern area, including Reading, Boyertown, Easton, and Stroudsburg.
Approximately 100 company employees from the Operations, Engineering, Communications, External Affairs, Customer Support, Facilities and Planning & Analysis groups will be involved in the exercises, which will be held at Met-Ed's Distribution Control Center in Reading, with participating Met-Ed employees also staged at the company's service centers in York, Lebanon, Easton, and Reading.
"FirstEnergy's storm restoration process has been recognized numerous times over the years by electric industry organizations for its effectiveness, and the goal of these training exercises is to make our response efforts even better," said Ed Shuttleworth, regional president of Met-Ed. "The drills provide opportunities for our employees to sharpen their skills as we head into the spring and summer storm season. Along with our ongoing infrastructure enhancements, these exercises are another way we enhance service reliability for our customers."
A team of FirstEnergy and Met-Ed employees has been preparing for weeks to conduct the drills, which will roughly follow the same time schedule and outage totals as an actual storm that occurred in the past. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 28, 2016 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), announced its Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, shut down at 12:01 a.m. on Saturday, March 26, for scheduled refueling and maintenance.
While the unit is offline, about a third of the unit's 177 fuel assemblies will be replaced. Preventative maintenance and safety inspections to ensure continued safe and reliable operations also will be performed on major components including various pumps, valves, reactor vessel, steam generators and the cooling tower.
A major project during the outage is replacement of two of the plant's four reactor coolant pump motors. These 50-ton, 16-foot tall, 9,000-horsepower motors drive large pumps capable of pushing more than 100,000 gallons of water per minute through the reactor vessel, helping control reactor power and ensuring the fuel remains cooled. Davis-Besse received a 20-year license extension from the Nuclear Regulatory Commission in December 2015, and this work, along with the other outage inspections and preventative maintenance, will ensure the plant continues to operate safely and reliably during the period of extended operation.
More than 1,000 temporary contractor workers and FENOC and FirstEnergy employees will supplement the Davis-Besse workforce during the outage.
The 908-megawatt Davis-Besse Nuclear Power Station has operated safely and reliably, generating more than 14.5 million megawatt hours of electricity since the completion of its last refueling in May 2014.
FirstEnergy Corp. is a diversified energy company headquartered in Akron, Ohio. Its FENOC subsidiary also operates the Beaver Valley Power Station in Shippingport, Pa. and the Perry Nuclear Power Plant in Perry, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter: @Perry_Plant, @BVPowerStation, and @DavisBesse.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 24, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has launched an innovative new career program to recruit high school seniors in the Akron area to work as customer service representatives in FirstEnergy's Akron call center. This program represents FirstEnergy's first recruitment effort targeting those who have not yet graduated from high school.
Students hired for part-time internships at the call center will receive paid training at $11 per hour while completing school. After working for several months following graduation, successful interns will be considered for full-time employment at the call center, which starts at $13.85 per hour and includes health insurance and tuition reimbursement for employees who wish to pursue higher education.
FirstEnergy employs about 500 full-time call center employees and 200 contractors in its three call centers, including 265 employees and contractors in Akron. In a typical year, FirstEnergy's call centers handle 16 million calls shared between call centers in Akron, Pennsylvania and West Virginia. Customer service representatives take calls from customers about power outages, emergencies, billing, meter reading, account issues, starting and transferring electric service and any number of other matters.
Seven graduating seniors from North, Ellet and Kenmore high schools in Akron will begin internships the first week of April. The company will conduct additional interviews with graduating seniors later in April for additional opportunities starting in June.
"Our customer service representatives are often the first line of contact with our customers," said Gary W. Grant, vice president of customer service at FirstEnergy. "The contact centers also serve as entry points to other jobs in the company, and employment mobility is one major reason we've begun this new recruiting effort."
FirstEnergy has received positive input about the new internship program from the Akron Public Schools, and outreach through high school guidance counselors continues.
"We're pleased to have this new program available to our graduating seniors," said David James, superintendent of Akron Public Schools. "FirstEnergy is a major employer in Akron and placing our graduates into well-paying jobs with a stable, local company is a win for us, our students and FirstEnergy."
FirstEnergy is making plans to expand the program to other area schools including Barberton, Cuyahoga Falls, Wadsworth, Norton, Copley, Green, North Canton and Highland schools, and may develop a similar program at the company's other call centers in Reading, Pa., and Fairmont, W.Va.
Akron area high school seniors interested in pursuing this opportunity should see their guidance counselors for additional information. Students should be well-spoken and have good interpersonal and communications skills, and basic knowledge of computer operation is highly desirable.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 24, 2016 /PRNewswire/ -- Whether we are catching up on the latest news, checking in with friends and family, shopping for the best deal or streaming television shows and movies, we use the Internet every day to help make our lives easier and more enjoyable. Today, FirstEnergy (NYSE: FE) is encouraging the customers of its electric utilities to receive and pay their monthly electric bills online too. By enrolling in FirstEnergy's eBill program – the convenient and secure electronic billing service – customers can do even more online and free themselves from the clutter of paper bills.
Soon, utility customers who are not currently taking advantage of the electric billing system will receive an email with a link that allows them to quickly and easily register for the free service without having their electric bill on-hand. This email is part of a new campaign – which inspires customers to "do more, paper less," and to "be a reminder-getting, payment-slaying, e-billing animal" – that will include online advertising, social media outreach and bill inserts that showcase the benefits of eBill.
More than one million customers of FirstEnergy utilities already use eBill, and currently enjoy the convenience and security of this free service. In addition to offering greater convenience for customers, eBill is an easy way to go green by reducing resources associated with printing and delivering traditional bills.
After enrolling in eBill, customers can:
Visit www.firstenergycorp.com/ebill to enroll. Images associated with the campaign are available on Flickr.
FirstEnergy Corp. is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 23, 2016 /PRNewswire/ -- The FirstEnergy Foundation has donated $15,000 to the Apprenticeship Maryland Program, a new initiative that promotes manufacturing, science, technology, engineering and mathematics-related career experience – with pay – for Maryland high school students.
Apprenticeship Maryland also provides businesses the opportunity to shape the next generation of skilled workers into top-performing employees. Research shows apprenticeship programs increase employee retention and reduce turnover. The FirstEnergy Foundation grant will be used to fund various apprenticeships for students in Frederick and Washington counties.
"Many companies, including ours, employ a maturing workforce and are having increasing difficulty finding skilled workers who understand the technical needs of our business, and who have the appropriate skills and training to hit the ground running," said James A. Sears, president of Maryland Operations for FirstEnergy. "Apprenticeship Maryland promises to make Maryland a better place to find and hire skilled workers, and we're pleased to provide this support."
"The Youth Apprenticeship Maryland pilot program is an important and exciting new avenue for investment in the skills and talent of the next generation of workers," said Maryland Labor Secretary Kelly M. Schulz. "I'm thrilled that FirstEnergy has taken that first investment step, and is contributing a $15,000 grant to the Youth Apprenticeship Maryland program. This generous donation will go a long way in helping area small businesses fund the hiring of youth apprentices. Engaging a new generation of workers and employers through the program drives economic development and helps to ensure that Maryland remains open for business."
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. (NYSE: FE) and provides support to non-profit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, March 22, 2016 /PRNewswire/ -- Toledo Edison, a subsidiary of FirstEnergy Corp (NYSE: FE), will conduct an emergency readiness exercise March 23 to review the company's storm restoration process.
Nearly 40 company employees will participate in the drill that will be held at Toledo Edison's Distribution Control Center in Holland, Ohio. Also observing the drill will be several City of Toledo officials.
"FirstEnergy's storm restoration process has been recognized numerous times by electric industry organizations over the years for its effectiveness, which is proof that these training exercises work," said Rich Sweeney, regional president of Toledo Edison. "As the summer storm season approaches we want our customers to know our employees remain vigilant about enhancing service reliability."
A team of FirstEnergy and Toledo Edison employees has been preparing for months to run the drill, which will roughly follow the same time schedule and outage totals for an actual storm that occurred in the Toledo area in June of 2015.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., March 22, 2016 /PRNewswire/ -- Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has completed significant substation upgrades and a new electric line interconnecting several substations in eastern Frederick County, Maryland, to enhance service reliability for about 5,400 customers in a high-growth residential and commercial corridor.
"We recognize the importance of enhancing our electrical infrastructure for our customers, and this reliability project was one of our top priorities," said James A. Sears, Jr., president of FirstEnergy's Maryland Operations and vice president of Potomac Edison. "The upgraded electrical network should better serve our current customers in eastern Frederick, southwestern Carroll and western Howard counties, and accommodate future growth in an area quickly transitioning from farms and rural villages to bedroom communities of Baltimore and Washington, D.C."
The $6 million project includes a new 34.5-kilovolt (kV) power line linking substations in the New Market, Monrovia and Mount Airy areas and a massive new transformer in the substation near New Market.
The 4.5-mile line was built from the New Market substation on new and existing wooden utility poles to a substation near Monrovia and is designed to add redundancy to the system. A unique aspect of the project is that a section of the line runs underground for nearly a mile where it passes beneath Interstate 70 near Route 75 at New Market.
The project also features automated equipment that can detect faults such as fallen tree branches that cause power outages and immediately switch customers to an alternate source of electricity to help keep their lights on. In addition, specialized "smart" communications equipment also was installed in the substations to remotely monitor operations.
Potomac Edison serves about 250,000 customers in seven Maryland counties and 132,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Photos of Potomac Edison's new electric line and substation improvements in Frederick County, Maryland, are available for download on Flickr.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., March 21, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has started construction on a new substation project in Monmouth County to help enhance service reliability for more than 180,000 customers in Colts Neck, Howell, Neptune, Tinton Falls and Wall.
The project includes building a new 16-mile, 230-kilovolt (kV) transmission line along existing right-of-way with steel pole construction to connect JCP&L substations in Howell and Neptune. In addition, an existing 230-kV transmission line connecting substations in Colts Neck and Neptune will be rebuilt using steel poles instead of the current wooden structures. Ultimately, the work also will include installing new equipment in these substations, including circuit breakers and remote-control communications equipment. The overall cost of the project is $124 million, with about $97 million being spent in 2016.
"This transmission project will make our system in Monmouth County more resilient and help meet the growing demand for electricity in the region," said Jim Fakult, president of JCP&L. "Along with the greater redundancies provided by the new transmission line, the high-tech substation devices we plan to install will give us the ability to operate the system remotely, automatically resetting the equipment instead of having to send a line crew to investigate the cause of the problem."
The new transmission line is expected to be completed and in-service by June 2017.
The project is part of JCP&L's multi-year, $250 million "Energizing the Future" transmission system reliability enhancement program.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos of site work for the JCP&L Oceanview Reinforcement Project are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 15, 2016 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable June 1, 2016, to shareholders of record at the close of business on May 6, 2016.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, the proposed transmission asset transfer to Mid-Atlantic Interstate Transmission, LLC, and the effectiveness of our strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil prices, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act (CWA) waste water effluent limitations for power plants, and CWA 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments and as it relates to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our cash flow improvement plan and other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks and other disruptions to our information technology system that may compromise our generation, transmission and/or distribution services and data security breaches of sensitive data, intellectual property and proprietary or personally identifiable information regarding our business, employees, shareholders, customers, suppliers, business partners and other individuals in our data centers and on our networks; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing review of factors also should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, March 11, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is expanding a transmission substation in Leroy Center to help reinforce the electric system, support load growth and enhance reliability in The Illuminating Company's northeast Ohio service area.
The project includes installing circuit breakers and two massive electrical transformers, each weighing about 368 tons and measuring about 28 feet tall by 25 feet wide and 44 feet in length. Transformers are used to convert power from 345-kilovolts (kV) to 138-kV as it moves along the transmission system. Specialized "smart" communications equipment also was installed at the substation to remotely monitor operations.
A nearby 345 kV transmission line connecting the Perry Nuclear Power Plant to a substation in Cleveland also will be connected to the substation in Leroy Center as part of this project to enhance resiliency and operational flexibility. The overall cost of the project is approximately $24 million, with about $14.8 million projected to be spent in 2016. The in-service date for the expanded substation is June 1, 2016.
"By connecting this substation to an existing transmission line, we are able to create another cost-effective option when it comes to delivering safe and reliable power to our customers," said John Skory, regional president, The Illuminating Company. "In addition, the high-tech substation devices we plan to install will give us the ability to operate the system remotely, automatically resetting the equipment instead of having to send a line crew to investigate the cause of the problem."
The project is funded and owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of some of the work being done at The Illuminating Company substation in Leroy Center are available for download on Flickr.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, March 1, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is using helicopters to inspect high-voltage transmission lines across its Toledo Edison service area in northwestern Ohio.
Residents may see a small helicopter flying at low altitude or hovering over high-voltage lines and transmission towers while airborne workers examine power line connections and other equipment. Local law enforcement agencies will be notified before inspections take place. Inspections should be completed by late March.
"Using helicopters to complete these inspections is a safe and cost-efficient way to help us keep our high-voltage system durable and reliable," said Rich Sweeney, regional president of Toledo Edison. "The helicopter provides workers with a clear view of overhead equipment far more quickly and easily than workers on the ground."
When a potential maintenance concern is identified, workers in the helicopter can use a company application to send a report and a photograph to the appropriate operations workers so that area can be inspected more closely and any necessary repairs can be made.
Flight schedules are subject to adjustment due to inclement weather and other conditions. To increase efficiencies, the helicopter will inspect the entire length of a circuit, which means inspections may, at times, extend into neighboring utility service areas.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Feb. 26, 2016 /PRNewswire/ -- Tracing its roots to a collection of companies that once generated power to illuminate downtown streetlights and operate electric passenger railways, West Penn Power, a FirstEnergy Corp. (NYSE: FE) subsidiary, marks its 100th anniversary on March 1.
"The world has changed immeasurably over the last hundred years, and West Penn Power has been there each step of the way, delivering safe, reliable electric service to our customers," said David W. McDonald, president of West Penn Power. "Our employees continue to work tirelessly to satisfy our customers' desire for the latest electric conveniences and technologies."
On March 1, 1916, the numerous electric companies that served towns and cities such as Uniontown, Greensburg, Jeanette, Kittanning, Butler and Connellsville consolidated operations to become West Penn Power, which was headquartered in Pittsburgh until moving to Greensburg in 1955. The electric railroads run by some of these companies were spun off to create a separate company called West Penn Railways Co., which, at its peak in 1923, carried 55 million passengers annually.
West Penn Power initially created business for its then-novel product through its retail sales and marketing subsidiary, launching a major electric refrigerator campaign in 1926. The West Penn Appliance Company also sold electric household items such as lamps, ranges, waffle irons, toasters, heaters and vacuum cleaners.
At its outset, West Penn Power had 24,000 customers with the typical customer using about 200 kilowatt-hours (kWh) of electricity per year. Today, West Penn Power serves more than 720,000 customers, with residential customers typically consuming 12,000 kWh annually.
"West Penn Power's commitment to the areas we call home doesn't stop with the delivery of reliable electric service," McDonald said. "Our employees reside in the communities we serve, proudly volunteering their time, talents and dollars to make each a better place to live, work and raise families."
Since 2011, West Penn Power employees, augmented by FirstEnergy Foundation matching gifts, have pledged nearly $600,000 to area United Ways and collected more than $51,000 and thousands of pounds of food – the equivalent of nearly 365,000 meals – for local food banks through Harvest For Hunger. They've also participated in walk-a-thons, book drives, coat drives, blood drives, and holiday toy and gift collections for numerous other charitable causes.
Current and retired "West Penners" will come together in March to celebrate West Penn Power's 100th Anniversary at the company's Greensburg headquarters where they will swap stories, view old photos and browse a collection of company memorabilia. In addition, in honor of West Penn Power's centennial and railway heritage, the FirstEnergy Foundation will donate $5,000 to the Pennsylvania Trolley Museum in Washington, Pa., which houses West Penn Railway cars No. 739 and 832, and West Penn Railway Electric Locomotive No. 1.
West Penn Power's linemen, operations employees and meter reading group recently achieved another remarkable milestone in working more than a full year without incurring an Occupational Safety and Health Administration (OSHA)-recordable injury, the longest stretch in the utility's century-long history. In addition, West Penn Power's substation group has worked two years without an OSHA-recordable injury.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Editor's Note: Historical photos of West Penn Power linemen at work, a bygone West Penn Power bucket truck and a West Penn Railway car are available for download on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 23, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has added $15 million to its philanthropic FirstEnergy Foundation, bringing the Foundation's total funds to nearly $50 million.
Since 2001, using both principal and interest, the Foundation has made grants of more than $62 million across FirstEnergy's service area and in communities where the company does business. Of those grants, nearly $29 million has been given to United Ways in the company's six-state service area, with millions more given to universities and colleges, cultural organizations and events and other charitable causes, large and small.
"Since 2001, the FirstEnergy Foundation has been a source of tremendous pride for the company, making grants to worthy causes and organizations across our service areas and in communities where we do business," said Charles E. Jones, president and chief executive officer of FirstEnergy. "These additional funds demonstrate our continuing commitment to improving the quality of life of our customers, our employees and their communities."
The FirstEnergy Foundation's reach also has expanded over the years, most recently with the addition of Allegheny Energy's utility service area in 2011. These additional funds will strengthen the Foundation as it continues to work to make a positive impact in communities throughout its service area for years to come.
Those who wish to apply for grants are encouraged to discuss grant inquiries with local managers at FirstEnergy companies, including area managers, or with the staff of FirstEnergy's Community Involvement department. For more information, including contact information and a link to the Foundation's grant application, please visit https://www.firstenergycorp.com/community/firstenergy_foundation.html.
The FirstEnergy Foundation is funded solely by FirstEnergy Corp. and provides support to nonprofit, tax-exempt health and human services agencies; educational organizations; cultural and arts programs and institutions; and civic groups in areas served by FirstEnergy's 10 electric operating companies and in areas where the company conducts business.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Feb. 19, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has started construction on the final segment of a new 11.5-mile transmission line project designed to enhance service reliability and help meet the growing demand for electricity in Mercer, Middlesex and Monmouth counties. The overall cost of the project is $48 million, with $18.8 million expected to be spent this year.
The current construction involves building an eight-mile section of a 115-kilovolt transmission line between an existing JCP&L substation in Hightstown and a transmission structure located along State Highway 33 near Manalapan. The line will run within or adjacent to existing corridors, roadways and railroad rights-of-way. The previous part of the project was completed in 2013 and involved replacing or rebuilding transmission structures along three miles of existing right-of-way from a substation in Manalapan to Millstone.
The project is expected to be in service by June 2016 and will help enhance service to nearly 34,000 customers in East Windsor, Englishtown, Hightstown, Manalapan, Millstone and Monroe.
"This transmission project is an important part of our continuing efforts to enhance reliability and help make our system more robust," said Jim Fakult, president of JCP&L. "Projects like this help make our system more resilient and help reduce the number and duration of outages our customers might experience."
The project is part of JCP&L's multi-year, $250 million "Energizing the Future" transmission system reliability enhancement program.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Editor's Note: Photos of site work for the new JCP&L transmission line being built in Mercer, Middlesex and Monmouth counties are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
READING, Pa., Feb. 16, 2016 /PRNewswire/ -- To help ensure continued service reliability for two million Pennsylvania customers, FirstEnergy Corp. (NYSE: FE) subsidiaries Pennsylvania Power Company (Penn Power), West Penn Power Company (West Penn Power), Metropolitan Edison Company (Met-Ed) and Pennsylvania Electric Company (Penelec) recently received approval from the Pennsylvania Public Utility Commission (PPUC) for Long Term Infrastructure Improvement Plans that will result in a total of an additional $245 million being spent on capital investments over the next five years.
"The improvement plans for each utility are designed to complement the work we already do to reduce the number and duration of outages our customers experience," said Linda Moss, FirstEnergy's president of Pennsylvania Operations. "The plans will help us accelerate the vital work that targets enhancing service reliability."
Planned projects include replacing underground cable, installing new fuses and sectionalizing devices on overhead wires, replacing aging circuit breakers and transformers in substations and replacing additional wooden poles.
Approximately $56 million of the work is expected to be completed in 2016 in the utilities' service areas, with the remainder being spent over the next four years that the plans will be in place.
The costs associated with these service reliability investments will be recovered by the FirstEnergy utilities through Distribution System Improvement Charges (DSICs) that were filed today with the PPUC. For an average FirstEnergy residential customer in Pennsylvania, the DSICs will initially result in about a $0.06 increase in their monthly bill, and will be updated quarterly. The companies have requested that the DSICs take effect July 1, 2016.
The Long Term Infrastructure Improvement Plans and DSICs were authorized by Pennsylvania Act 11, which was approved in 2012, establishing a process to encourage electric, natural gas, water and sewer utilities in Pennsylvania to accelerate investments in aging infrastructure and help create economic benefits.
FirstEnergy's Pennsylvania utilities have, on average, the lowest rates in the state among investor-owned electric distribution companies. If approved, the new rates would still, on average, be lower than the average rates charged today by other Pennsylvania utilities.
The rate impact for each FirstEnergy utility, including the Long Term Infrastructure Improvement Plans and associated DSICs are:
Penn Power serves approximately 161,000 customers within 1,100 square miles of western Pennsylvania. West Penn Power serves approximately 720,000 customers within 10,400 square miles of central and southwestern Pennsylvania. Met-Ed serves 560,000 customers within 3,300 square miles of eastern and southeastern Pennsylvania. Penelec serves nearly 600,000 customers within 17,600 square miles of northern and central Pennsylvania.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 10, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) is running television ads in northeast Ohio explaining how its rate plan currently before the Public Utilities Commission of Ohio (PUCO) will help safeguard Ohio's energy future.
The FirstEnergy campaign counters dubious claims made by Alliance for Energy Choice, a group comprised of opportunistic companies that stand to financially benefit if energy prices spike and the long-term customer protections included in FirstEnergy's plan are not implemented.
"The TV ads from the Alliance for Energy Choice attacking FirstEnergy's Electric Security Plan are an attempt to mislead customers on an issue that is important to Ohio's energy future," said William Ridmann, vice president, Rates and Regulatory Affairs for FirstEnergy. "It's not a surprise that many of those complaining the loudest about FirstEnergy have a self-serving motivation. These are not companies that have a long-term commitment to the people who live in Ohio."
FirstEnergy's rate plan would provide long-term price stability for Ohio's electric customers. The company's plan is supported by PUCO Staff, low-income customer advocacy groups including Ohio Partners for Affordable Energy, the Ohio Energy Group, representing large energy-intensive industrial customers, the Council of Smaller Enterprises, International Brotherhood of Electrical Workers Local 245, and EnerNOC, an energy management services provider, along with others.
In its ads, FirstEnergy summarizes how the plan will provide long-term benefits to Ohio consumers. Overall, the company's plan preserves $1 billion in annual regional economic benefits, including tax revenues and an estimated 3,000 direct and indirect jobs created by operations at Davis-Besse Nuclear Power Station in Oak Harbor, Ohio, and the W.H. Sammis Plant in Stratton, Ohio.
Unlike other electric suppliers that rely on one fuel source, FirstEnergy's plan provides benefits to customers, similar to an insurance policy, by keeping a diverse set of fuel sources available in Ohio to generate electricity. This strategy reduces the risk of more Ohio plant closures, and building costly transmission to import energy sources that put Ohio at risk of higher electric prices in the years ahead.
The plan also provides more than $102 million to help low-income customers with bill payment and energy efficiency programs, along with economic development funding for Ohio communities.
View FirstEnergy's Ohio Proud ad on YouTube.
FirstEnergy Corp. is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 10, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the fourth quarter and full year of 2015 after markets close on Tuesday, February 16. These topics will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EST on Wednesday, February 17. 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 slides associated with the presentation via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast and presentation will be available for replay on the site for up to one year.
FirstEnergy's fourth quarter Consolidated Report to the Financial Community will be posted on the investor section of the website after markets close on February 16, and the investor FactBook will also be posted to the website that evening.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Feb. 9, 2016 /PRNewswire/ -- Mon Power welcomes the public to an open house event at its Parkersburg Service Center on February 13, 2016, at 10 a.m. The event will feature information about the company's Power Systems Institute (PSI) line and substation worker training program.
PSI is a partnership that combines learning hands-on utility skills at a Mon Power training facility with technical coursework at Pierpont Community and Technical College in Fairmont, W.Va., classrooms. Graduates will earn a two-year Associate of Applied Science degree in Electric Utility Technology. Qualified students will receive tuition, books and lab fees courtesy of Mon Power. Students with the right grades and skills will have the potential to be hired upon graduation.
In addition to demonstrating utility trucks, safety equipment and tools, representatives from Mon Power will provide an overview of the PSI program and explain how interested students can enroll for an upcoming information session that will be held on February 20, 2016, at 10 a.m., at Pierpont Community and Technical College.
"The Power Systems Institute program provides a unique opportunity for interested candidates to pursue a career in the electric utility industry," said Holly Kauffman, president, West Virginia Operations, FirstEnergy. "Well trained line workers and substation electricians are essential to our business, and help us maintain safe, reliable service for our customers."
The Mon Power event is scheduled for:
Parkersburg Service Center
Saturday, February 13, 2016, 10 a.m. to noon
1803 Murdoch Avenue, Parkersburg, WV, 26101
An invitation to attend the event is not required. For more information about PSI, visit www.firstenergycorp.com/psi or call 1-800-829-6801.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy Corp. (NYSE: FE) is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 8, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has introduced a new branding campaign that demonstrates the company's commitment to a cleaner energy future. "The Switch is On" campaign highlights FirstEnergy's environmental achievements, its transition to cleaner energy sources, and a green energy electricity option from FirstEnergy Solutions for residential customers in Ohio and Pennsylvania.
"The Switch is On" campaign kicked off yesterday and will run through July 2016. The campaign includes print advertisements in 17 newspapers and business journals, radio advertisements in 14 markets, and more than 50 billboards in Ohio, Pennsylvania, New Jersey and Maryland. In addition, digital advertisements will appear on more than 30 online news outlets as well as to targeted internet users.
Complementing the advertisements is a dedicated website – www.theswitchison.com – highlighting FirstEnergy's environmental goals and efforts, and the company's corporate website has been enhanced with additional environmental messaging. FirstEnergy also will support the environmental campaign through its social media channels with information such as tips for consumers on how to conserve energy and updates on FirstEnergy's environmental initiatives.
"FirstEnergy has a long history of environmental stewardship and investments in clean energy, including more than $10 billion to enhance environmental performance of the company's generating fleet since the Clean Air Act became law in 1970. We also are one of the region's largest providers of renewable energy from contracted wind and solar and pumped-storage hydro resources," said FirstEnergy President and Chief Executive Officer Chuck Jones. "While the transition to a cleaner energy future will take time, 'The Switch is On' – our ultimate goal is to continue to deliver safe, reliable and affordable electricity to our customers through cleaner, smarter and more sustainable technologies."
In 2015, more than one third of the electricity produced by FirstEnergy's generating fleet was from carbon-free sources, including 31.9 million megawatt hours from three nuclear power stations, 1.6 million megawatt hours from two hydro plants, 1.2 million megawatt hours from five wind facilities and 36,000 megawatt hours from solar installations in Maryland and New Jersey.
Closure of eleven of FirstEnergy's older, less efficient power plants since 2012 has supported the company's transition to a cleaner energy fleet. With the completion of Mercury and Air Toxics Standards (MATS) projects in spring 2016, FirstEnergy is projected to have reduced nitrogen oxide (NOx) by 90 percent, sulfur dioxide (SO2) by 95 percent and mercury by 91 percent over 1990 levels at its power plants. As a result, the company's generating fleet will be nearly 100 percent low- or non-emitting.
FirstEnergy has set an aggressive goal of reducing carbon dioxide (CO2) emissions by at least 90 percent below 2005 levels by 2045, building on the 25 percent reduction in CO2 emissions already achieved across the company's footprint. This goal represents a potential reduction of more than 80 million tons of CO2 emissions and is among the most aggressive targets in the utility industry.
Actions planned for the future to reduce CO2 emissions and transition to cleaner energy sources include:
Green Energy Option Supports Renewable Resources
Residential customers in Ohio and Pennsylvania can help the transition to a cleaner energy future by signing up for a new green electricity option from FirstEnergy Solutions. Named "AllGreen Energy," the program allows customers to help stimulate clean power by supporting renewable resources that generate electricity on the grid. "AllGreen Energy" is Green-e Energy Certified®, the nation's leading independent certification and verification program for renewable energy and greenhouse gas emission reduction products.
More information on the "AllGreen Energy" option, and green options for business customers, is available on the web at www.theswitchison.com.
Sustainability Programs Reflect Ongoing Environmental Commitment
In addition to transitioning to a cleaner generating fleet, FirstEnergy actively supports environmental stewardship through numerous conservation programs, including:
Additional information about FirstEnergy's environmental achievements, stewardship programs and future goals is available in the Sustainability Report and environmental section of the company's website. For more information about FirstEnergy's environmental branding campaign, visit www.theswitchison.com.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 8, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) has introduced a new branding campaign that demonstrates the company's commitment to a cleaner energy future. "The Switch is On" campaign highlights FirstEnergy's environmental achievements and transition to cleaner energy sources.
"The Switch is On" campaign kicked off yesterday and will run through July 2016. The campaign includes print advertisements in 17 newspapers and business journals, radio advertisements in 14 markets, and more than 50 billboards in Ohio, Pennsylvania, New Jersey and Maryland. In addition, digital advertisements will appear on more than 30 online news outlets as well as to targeted internet users.
Complementing the advertisements is a dedicated website – www.theswitchison.com – highlighting FirstEnergy's environmental goals and efforts, and the company's corporate website has been enhanced with additional environmental messaging. FirstEnergy also will support the environmental campaign through its social media channels with information such as tips for consumers on how to conserve energy and updates on FirstEnergy's environmental initiatives.
"FirstEnergy has a long history of environmental stewardship and investments in clean energy, including more than $10 billion to enhance environmental performance of the company's generating fleet since the Clean Air Act became law in 1970. We also are one of the region's largest providers of renewable energy from contracted wind and solar and pumped-storage hydro resources," said FirstEnergy President and Chief Executive Officer Chuck Jones. "While the transition to a cleaner energy future will take time, 'The Switch is On' – our ultimate goal is to continue to deliver safe, reliable and affordable electricity to our customers through cleaner, smarter and more sustainable technologies."
In 2015, more than one third of the electricity produced by FirstEnergy's generating fleet was from carbon-free sources, including 31.9 million megawatt hours from three nuclear power stations, 1.6 million megawatt hours from two hydro plants, 1.2 million megawatt hours from five wind facilities and 36,000 megawatt hours from solar installations in Maryland and New Jersey.
Closure of eleven of FirstEnergy's older, less efficient power plants since 2012 has supported the company's transition to a cleaner energy fleet. With the completion of Mercury and Air Toxics Standards (MATS) projects in spring 2016, FirstEnergy is projected to have reduced nitrogen oxide (NOx) by 90 percent, sulfur dioxide (SO2) by 95 percent and mercury by 91 percent over 1990 levels at its power plants. As a result, the company's generating fleet will be nearly 100 percent low- or non-emitting.
FirstEnergy has set an aggressive goal of reducing carbon dioxide (CO2) emissions by at least 90 percent below 2005 levels by 2045, building on the 25 percent reduction in CO2 emissions already achieved across the company's footprint. This goal represents a potential reduction of more than 80 million tons of CO2 emissions and is among the most aggressive targets in the utility industry.
Actions planned for the future to reduce CO2 emissions and transition to cleaner energy sources include:
Sustainability Programs Reflect Ongoing Environmental Commitment
In addition to transitioning to a cleaner generating fleet, FirstEnergy actively supports environmental stewardship through numerous conservation programs, including:
Additional information about FirstEnergy's environmental achievements, stewardship programs and future goals is available in the Sustainability Report and environmental section of the company's website. For more information about FirstEnergy's environmental branding campaign, visit www.theswitchison.com.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 4, 2016 /PRNewswire/ -- A youth football league game on a recently renovated football field in east Cleveland is the focus of a new FirstEnergy television spot that will air during the Super Bowl on Sunday, February 7.
Browder Field, a storied name in Cleveland sports history located on the grounds of the old East Tech High School, was renovated as part of a collaborative effort between the City of Cleveland, the Cleveland Browns, the National Football League (NFL) and FirstEnergy last fall.
The commercial was produced by FirstEnergy, with the cooperation of the Cleveland Browns and the City of Cleveland. To view the Super Bowl TV spot, click here: www.youtube.com/FirstEnergyTV.
The commercial chronicles the transformation of a well-worn grass field without lights to a showcase neighborhood facility with synthetic turf and high-tech lighting donated and installed by FirstEnergy. The spot culminates with the reactions of the players and coaches playing under the lights for the first time on December 5 at Browder Field. The field was named in honor of Dwayne Browder, a long-time Cleveland youth league coach and a community leader in the city's 5th Ward.
Many of the coaches and referees, themselves youth football league alumni who played on the same field in less than ideal conditions, were thrilled with how the Browder Field transformation enhanced their neighborhood.
"Helping rebuild Browder Field is a great source of pride for FirstEnergy and our employees because it showcases our commitment to Cleveland and the customers we serve," said Charles E. Jones, president and chief executive officer of FirstEnergy. "The spot captures the excitement of youth football under the lights and what this facility means for the people who live in that neighborhood."
"FirstEnergy and the Cleveland Browns have been great partners in our efforts to invest in the children of Cleveland through the work done in Browder Field," said Cleveland Mayor Frank G. Jackson. "This state-of-the-art facility provides another good example of how the public and private sector work together well here in Cleveland."
"We were proud to participate in the renovation of Dwayne Browder Field with FirstEnergy, the City of Cleveland and the NFL, all of whom share our dedication and passion for providing youth opportunities to learn and develop, including through youth football," said Brent Stehlik, executive vice president and chief revenue officer of the Cleveland Browns.
Super Bowl 50 will be broadcast on CBS, with the scheduled kick-off at 6:30 p.m., EST. Locally in northeast Ohio, the game will be shown on WOIO-Channel 19. FirstEnergy's 30-second commercial will air locally on WOIO for the pre-game, in-game and post-game programming, as well as on other CBS programs after the game.
The TV spot ends with a link to an expanded documentary – Shining Lights: The Renegades Football Story – which details the Browder Field renovation and includes interviews with coaches and Dwayne Browder. The long-form video can be viewed at www.firstenergycorp.com/renegades.
FirstEnergy Corp. (NYSE: FE) is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
SOURCE FirstEnergy Corp.
READING, Pa., Feb. 2, 2016 /PRNewswire/ -- As part of its ongoing efforts to enhance its electric system, FirstEnergy Corp. (NYSE: FE) invested $95 million in 2015 in its Metropolitan Edison (Met-Ed) service area on reliability infrastructure projects and other work, including substation expansions and installing remote-control equipment designed to help reduce the number and duration of power outages.
"The work Met-Ed completed in 2015, and in previous years, has helped us make progress in reducing the duration of outages our customers might experience," said Ed Shuttleworth, regional president, Met-Ed. "Our goal is to enhance the quality of service we provide our customers now, while helping to prepare our system for future load growth."
Some of the key FirstEnergy projects in Met-Ed's eastern Pennsylvania territory in 2015 included:
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
Met-Ed also began using two new apps in 2015 to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
In 2015, Met-Ed, along with FirstEnergy's other utilities, also reinstated the Power Systems Institute, a unique worker training program that combines learning hands-on utility skills at company training facilities with technical coursework taught at Reading Area Community College. Recruiting efforts are underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
Met-Ed serves approximately 560,000 customers in 15 Pennsylvania counties. Follow Met-Ed on Twitter @Met Ed and on Facebook at www.facebook.com/MetEdElectric.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 2, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) invested more than $131 million in 2015 in its Pennsylvania Power (Penn Power) service area on infrastructure projects and other work, including installing substation equipment and rebuilding transmission lines, to help enhance the reliability of its system.
"The work Penn Power completed in 2015, and in previous years, has helped us make progress in reducing the number and duration of outages our customers might experience," said Randall A. Frame, regional president of Penn Power. "The projects are designed to help enhance day-to-day service reliability for our customers along with maintaining our system's capability to handle future load growth."
Some of the key projects in Penn Power's western Pennsylvania service area in 2015 included:
About $79 million of the total was spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
Penn Power also began using two new apps in 2015 to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
In 2015, Penn Power, along with FirstEnergy's other utilities, also reinstated the Power Systems Institute, a unique worker training program that combines learning hands-on utility skills at company training facilities with technical coursework at local community college classrooms. Recruiting efforts are underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
Penn Power serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Follow Penn Power on Twitter @Penn Power and on Facebook at www.facebook.com/pennpower.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of some of Penn Power's service reliability enhancements from 2015 are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 2, 2016 /PRNewswire/ -- FirstEnergy Corp.'s (NYSE: FE) generation fleet provided customers with safe, reliable, clean and affordable energy in 2015, producing more than 88.9 million megawatt hours of electricity at its nuclear, coal, natural gas, oil, wind and hydro facilities in Ohio, Pennsylvania, West Virginia, New Jersey, Virginia and Illinois. Nearly 100 percent of the power generated by FirstEnergy comes from resources that are non- or low-emitting. Typically, each megawatt produced by a power plant can supply up to 1,000 homes with electricity.
"Our power plants produced the reliable electricity that powers our customers and communities in 2015, and we remain focused on delivering strong, dependable plant operations and enhancing our environmental performance for the future," said Jim Lash, president, FirstEnergy Generation.
Solid operations resulted in production of approximately 31.9 million megawatts of carbon-free electricity from FirstEnergy's three nuclear power stations, and more than 3.8 million megawatts from its low-emitting, natural gas-powered Springdale Generating Plant in Springdale Township, Pa. The company also produced more than 2.8 million megawatts of electricity from its renewable generation assets, including two hydro and five wind facilities.
FirstEnergy's Perry Nuclear Power Plant in Perry, Ohio, achieved industry-leading reliability for the year, operating with a forced loss rate of zero. Forced loss rate measures the percentage of time a plant is not producing electricity related to an unplanned power reduction or outage.
In addition, FirstEnergy's generation fleet was well-positioned for reliable service throughout periods of extreme weather in 2015. When a new peak electricity demand record was set in February 2015, the company's fossil generating stations operated at more than 90 percent equivalent availability factor, a measure that reflects the amount of time a generating unit is available to produce electricity. Its nuclear plants achieved a capability factor of 100 percent during the same period, which indicates the plants generated electricity the entire month at full power without interruptions.
FirstEnergy made progress installing emissions reduction equipment at its coal-fired plants to meet the U.S. Environmental Protection Agency's Mercury and Air Toxics Standards (MATS) regulation. The Bay Shore and Sammis plants in Ohio and Pleasants and Harrison plants in West Virginia fully meet MATS regulations, and MATS projects will be completed at Fort Martin in West Virginia and Bruce Mansfield in Pennsylvania by April 2016. The company also closed its older, less efficient Lake Shore, Eastlake and Ashtabula coal-fired plants in Northeast Ohio in April 2015.
Several of FirstEnergy's generating plants underwent equipment upgrades in 2015 to support reliable performance. The company invested in numerous reliability upgrades at its Springdale natural gas plant in southwest Pennsylvania during the plant's first-ever major maintenance outage in spring 2015, ensuring the facility will generate affordable and low-emitting electricity for years to come. New, large transformers that connect the plants with the electrical grid were installed at the Perry Nuclear Power Station and W. H. Sammis Plant in Ohio, and the Beaver Valley Nuclear Power Station in Shippingport, Pa., received a new spare transformer that can be quickly and efficiently installed in the future.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy online at www.firstenergycorp.com or on Twitter @FirstEnergyCorp.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Feb. 1, 2016 /PRNewswire/ -- As part of its ongoing efforts to enhance its electric system, FirstEnergy Corp. (NYSE: FE) invested $171 million in 2015 in the West Penn Power service area on reliability infrastructure projects and other work, including building new transmission lines, new substations, and installing remote-control equipment to help reduce the number and duration of power outages.
"Each year we undertake transmission and distribution projects that will help us enhance day-to-day service reliability for our customers," said David W. McDonald, president of West Penn Power. "The infrastructure work also helps prepare our system for future growth, including demand from western Pennsylvania's growing Marcellus shale gas industry."
Some of the key FirstEnergy projects in West Penn Power's 24-county service area in 2015 include:
About $41 million of the total was spent on transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission company.
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
West Penn Power also began using two new apps in 2015 to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
West Penn Power also is continuing its Power Systems Institute program to train future linemen and substation electricians. The program combines learning hands-on utility skills at company training facilities with technical coursework at Westmoreland County Community College. Recruiting efforts are underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: Photos of some of West Penn Power's service reliability enhancements from 2015 are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
ERIE, Pa., Feb. 1, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) invested approximately $197 million in 2015 in the Pennsylvania Electric Company (Penelec) service area on infrastructure projects and other work, including building new transmission lines, installing remote-control equipment, and adding laptop computers on line trucks and other vehicles to help enhance the reliability of its system.
"Each year we undertake transmission and distribution projects that will help us enhance day-to-day service reliability for our customers," said Scott Wyman, Penelec regional president. "The infrastructure work also helps prepare our system for future load growth."
Some of the key FirstEnergy projects in Penelec's 17,600 square mile territory in 2015 include:
Approximately $59 million of the overall total was spent on transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission company.
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
Penelec also began using two new apps in 2015 to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
In 2015, Penelec, along with FirstEnergy's other utilities, also reinstated the Power Systems Institute, a unique worker training program that combines learning hands-on utility skills at company training facilities with technical coursework at local community college classrooms. About 26 students currently are enrolled in Power Systems Institute programs in the Penelec area, with recruiting efforts underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Feb. 1, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) invested approximately $257 million in 2015 in The Illuminating Company service area on infrastructure projects and other work, including building new transmission lines, new substations, and installing remote-control equipment as part of its ongoing efforts to enhance its electric system.
"The infrastructure projects we completed in 2015 and in previous years are making a difference when it comes to reducing the number and duration of outages our customers might experience," said John Skory, regional president, The Illuminating Company. "We expect the results will show that in 2015 The Illuminating Company performed better than the service reliability standards established by the Public Utilities Commission of Ohio, and we will continue our efforts to do even better."
Some of the key FirstEnergy projects in The Illuminating Company's northeast Ohio service area in 2015 included:
More than $132 million of the total was spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
The Illuminating Company also began using two new apps in 2015 to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
In 2015, The Illuminating Company, along with FirstEnergy's other utilities, also reinstated the Power Systems Institute, a unique worker training program that combines learning hands-on utility skills at company training facilities with technical coursework at local community college classrooms. More than 20 students currently are enrolled in Power Systems Institute programs in The Illuminating Company area, with recruiting efforts underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
The Illuminating Company serves more than 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 28, 2016 /PRNewswire/ -- To help reduce the number and duration of potential power outages, FirstEnergy (NYSE: FE) invested about $146 million in 2015 in the Toledo Edison service area on infrastructure projects and other work, including building new transmission lines and substations to help enhance the reliability and flexibility of its electric system.
"The work we completed in 2015 and in previous years is making a difference when it comes to reducing the number and length of outages our customers might experience," said Rich Sweeney, regional president of Toledo Edison. "We expect the results will show that in 2015 Toledo Edison customers overall experienced less than one outage for the year, with power being restored, on average, in about 90 minutes."
Some of the key FirstEnergy projects in Toledo Edison's northwest Ohio service area in 2015 included:
About $100 million of the total was spent on transmission-related projects owned by American Transmission Systems, Inc., a FirstEnergy transmission company.
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
Toledo Edison also began using two new apps in 2015 to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
In 2015, Toledo Edison, along with FirstEnergy's other utilities, also reinstated the Power Systems Institute, a unique worker training program that combines learning hands-on utility skills at company training facilities with technical coursework at local community college classrooms. About 25 students currently are enrolled in the Power Systems Institute program in the Toledo Edison area, with recruiting efforts underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
Toledo Edison serves more than 300,000 customers in northwest Ohio. Follow Toledo Edison on Twitter @ToledoEdison or on Facebook at www.facebook.com/ToledoEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 28, 2016 /PRNewswire/ -- As part of its ongoing efforts to enhance its electric system, FirstEnergy Corp. (NYSE: FE) invested approximately $450 million in 2015 on Ohio Edison reliability projects and other work, including building new transmission lines, new substations, and installing remote-control equipment to help reduce the number and duration of power outages.
"The infrastructure projects we completed in 2015 and in previous years are making a difference when it comes to making our system more robust," said Randall A. Frame, regional president, Ohio Edison. "In 2015, Ohio Edison customers overall averaged less than one outage for the year, and when an interruption did occur the average time to restore power was shorter than the previous year."
Some of the key FirstEnergy projects in Ohio Edison's northeast and central Ohio service area in 2015 included:
About $305 million of the total was spent on transmission-related projects owned by American Transmission Systems, Incorporated, a FirstEnergy transmission company.
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
Ohio Edison also began using two new apps in 2015 to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
In 2015, Ohio Edison, along with FirstEnergy's other utilities, also reinstated the Power Systems Institute, a unique worker training program that combines learning hands-on utility skills at company training facilities with technical coursework at local community college classrooms. About 50 students currently are enrolled in Power Systems Institute programs in the Ohio Edison area, with recruiting efforts underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
Ohio Edison serves more than 1 million customers across 36 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
WILLIAMSPORT, Md., Jan. 27, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) invested $119 million in 2015 in the Potomac Edison service area on infrastructure projects and other work, including building new transmission lines, new substations, and installing remote-control equipment as part of its ongoing efforts to enhance the reliability of its electric system.
"The infrastructure projects we completed in 2015 and in previous years are making a difference when it comes to making our system more robust," said James A. Sears, Jr., president of FirstEnergy's Maryland Operations and vice president of Potomac Edison. "Results showed that Potomac Edison customers experienced fewer outages in 2015 than the year before, and when outages did occur, they were shorter than in the previous year."
Some of the key FirstEnergy projects in Potomac Edison's service area in 2015 include:
About $21 million of the total was spent on transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission company.
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
Potomac Edison also began using two new apps in 2015 to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
In 2015, Potomac Edison also continued its Power Systems Institute program to train future line workers. The program combines learning hands-on utility skills at company training facilities with technical coursework at Blue Ridge Community and Technical College in Martinsburg, W. Va. Recruiting efforts are underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
Potomac Edison serves about 250,000 customers in seven Maryland counties and 132,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison on Twitter @PotomacEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Editor's Note: A photo of service reliability work that was done at a Potomac Edison substation in Frederick County, Maryland, is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Jan. 26, 2016 /PRNewswire/ -- As part of its ongoing efforts to improve its electric system, FirstEnergy Corp. (NYSE: FE) invested $227 million in 2015 on Mon Power service reliability projects and other work, including building new transmission lines, new substations, and installing remote-control equipment to help reduce the number and duration of power outages.
"Each year we undertake transmission and distribution projects that will help us enhance day-to-day service reliability for our customers," said Holly Kauffman, president of FirstEnergy's West Virginia Operations. "The infrastructure work also helps prepare our system for future growth, including the expanding Marcellus shale industry that is driving load growth as more midstream gas processing plants and pipeline facilities come on line throughout our Mon Power territory."
Some of the key FirstEnergy projects in Mon Power's 34-county service area in 2015 included:
About $90 million of the total was spent on transmission-related projects owned by the Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate.
Planning is continuing for additional projects that are expected to be completed in 2016, including new substations, transmission lines and circuit upgrades.
Mon Power also began using a new app in 2015 to more efficiently respond to public safety hazards caused by severe weather and traffic accidents. Employees in the field can use this new mobile device technology to automatically enter hazard information into the company's outage management system which helps protect the public from hazards such as downed wires and more quickly restore power to customers.
Mon Power also is continuing its Power Systems Institute program to train future linemen and substation electricians. The program combines learning hands-on utility skills at company training facilities with technical coursework at Pierpont Community and Technical College in Fairmont, W. Va. Recruiting efforts are underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in 34 West Virginia counties. Follow Mon Power on Twitter @MonPowerWV.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Visit FirstEnergy online at www.firstenergycorp.com and follow on Twitter at @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Jan. 23, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has restored service to more than 71,000 customers who lost power as a result of the massive snow storm and high winds moving through the state. Currently, 16,000 customers are without power, the majority of which are in Monmouth and Ocean counties.
"We are responding to outages and making repairs, but the continuing heavy snow and gusting winds have made working conditions more difficult," said Tony Hurley, vice president of Operations. "Nonetheless, we will continue to work round-the-clock, evaluate outages and deploy resources as needed until all customers are restored."
Prior to the snowstorm, JCP&L reinforced substations in flood prone areas with protective barriers and water pumps. Additionally, company employees are monitoring the substations through real-time video links. There has been no flooding at JCP&L substations.
Additionally, JCP&L has taken the following steps:
Customers who are without power are encouraged to report their outage by calling 888-LIGHTSS (888-544-4877) or through the following channels:
Customers who report their outages can view their personal outage status by subscribing to receive FirstEnergy's text or email alert notifications, by logging in to their online account on the website or by texting STAT to 544487. Customers who have not registered their account online can still review general outage information for their community on the company's 24/7 Power Center outage maps.
JCP&L reminds customers to immediately report downed wires to their utility at 888-LIGHTSS (888-544-4877), or to their local police or fire department. Customers should never go near a downed wire even if they think it is no longer carrying electricity. Extra care caution should be used in areas where downed lines are tangled in trees or other debris.
In the event of an outage, customers can take these steps to stay safe and warm:
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 22, 2016 /PRNewswire/ -- As the large winter storm works its way across the eastern U.S., FirstEnergy Corp. (NYSE: FE) utilities are taking steps to mobilize additional linemen, hazard responders and forestry personnel to assist in the areas of West Virginia, Pennsylvania, Maryland and New Jersey expected to be hit the hardest.
Utility crews and support workers from Toledo Edison as well as local and outside contractors are traveling to assist in the Mon Power service area in West Virginia. In addition, personnel from Ohio Edison and contractors are being staged in Reading, Pa., to be ready to provide assistance, as needed, in Metropolitan Edison's (Met-Ed) service area, Potomac Edison areas in Maryland, or Jersey Central Power & Light's (JCP&L) service areas in northern and central New Jersey.
Hazard responders from FirstEnergy's corporate office in Akron also are traveling to JCP&L, while local electrical contractors will assist, as needed.
"FirstEnergy can rapidly deploy resources across our six-state service area to help restore service to customers more quickly," said Mark Julian, vice president, Utility Operations, FirstEnergy. "Local crews working along with those deployed from other FirstEnergy companies not impacted by the storm make a strong team to help get the restoration job done."
The heavy snow and high winds could result in difficult travel conditions for FirstEnergy crews. Poor road conditions, coupled with the ongoing snowfall, could hamper efforts to access areas with damage to make repairs.
Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department.
When outages do occur, customers are reminded to immediately report the outage to their utility. Customer outage reports are the first step to help the company pinpoint damage locations and restore power more quickly.
Outages can be reported by calling 888-LIGHTSS (888-544-4877) or through the following channels:
In addition to the alert notification service, customers who report their outages can view their personal outage status information by logging in to their online account on the website or by texting STAT to 544487. Customers who have not registered their account online can still review general outage information for their community on the company's 24/7 Power Center outage maps. FirstEnergy customer call centers also will be fully staffed.
In the event of an outage, customers can take these steps to stay safe and warm:
FirstEnergy utilities include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; Potomac Edison in Maryland; and Jersey Central Power & Light in New Jersey.
Connect with the companies online at www.firstenergycorp.com, on Twitter at @OhioEdison, @IlluminatingCo, @ToledoEdison, @Met_Ed, @Penelec, @Penn_Power, @W_Penn_Power, @JCP_L, @MonPowerWV, or @PotomacEdison, or on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo, www.Facebook.com/MetEdElectric, www.Facebook.com/PenelecElectric, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.Facebook.com/JCPandL.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 22, 2016 /PRNewswire/ -- FirstEnergy utility customers in the path of this weekend's winter storm are encouraged to stay connected with the company to receive helpful information in the event of a power outage.
The storm is currently expected to produce heavy snow and high winds in the Mon Power service territory in West Virginia; Potomac Edison in Maryland and West Virginia; Metropolitan Edison in eastern Pennsylvania, and Jersey Central Power & Light in New Jersey.
Customers who register their accounts online at www.firstenergycorp.com can subscribe to text or email alert notifications on topics including weather alerts in advance of severe storms; updates on reported outages including the best available restoration time, outage cause and crew status; notification of planned outages, and billing information.
The alert notification service is part of FirstEnergy's wide array of communication tools that can make it easier for customers to receive accurate and timely information from their electric utility. These tools complement a broader effort by FirstEnergy's utilities to strengthen and enhance the electric system and expedite power restoration efforts in the wake of major storms.
When outages do occur, customers are reminded to immediately report the outage to their utility. Customer outage reports are the first step to help the company pinpoint damage locations and restore power more quickly.
Outages can be reported by calling 888-LIGHTSS (888-544-4877) or through the following channels:
In addition to the alert notification service, customers who report their outages can view their personal outage status information by logging in to their online account on the website or by texting STAT to 544487. Customers who have not registered their account online can still review general outage information for their community on the company's 24/7 Power Center outage maps. FirstEnergy customer call centers also will be fully staffed.
Current storm information also is shared via traditional media channels, the utilities' social media accounts, and the company's website.
More information about these communications tools can be found on FirstEnergy's Communication tools page.
FirstEnergy Corp. (NYSE: FE) is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.
Connect with Mon Power, Potomac Edison, Met-Ed and JCP&L online at www.firstenergycorp.com or on Twitter at @MonPowerWV, @PotomacEdison, @Met_Ed or @JCP_L. Met-Ed and JCP&L are on Facebook at www.Facebook.com/MetEdElectric or www.Facebook.com/JCPandL.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 21, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) personnel are prepared to respond when the heavy snow and high winds associated with an expected large winter storm impact the eastern part of the country beginning Friday.
Based on current forecasts, Mon Power in West Virginia, Potomac Edison in Maryland and West Virginia, Metropolitan Edison in eastern Pennsylvania, and Jersey Central Power & Light in New Jersey are expected to be the most affected by the event.
Company meteorologists are closely monitoring the weather system, which could produce up to two feet of snow in parts of West Virginia and Maryland, and more than a foot of snow in eastern Pennsylvania and New Jersey, along with wind gusts up to 40 mph.
FirstEnergy's utilities are making plans to staff additional dispatchers and analysts at regional dispatch offices, and are making arrangements to bring in additional line, substation and forestry personnel, as needed, based on the severity of the weather. In addition, equipment and vehicles are being checked to make sure they are ready to operate in heavy snow conditions.
"The ultimate goal of our pre-planning efforts is to help speed the restoration process and minimize any inconvenience our customers experience due to severe winter weather," said Mark Julian, vice president, Utility Operations, FirstEnergy. "Once we know the extent of any storm damage, we can deploy additional crews and resources from our less affected utilities to areas that were hit the hardest."
Electrical contractors also have been notified they could be required to assist with storm restoration efforts over the next several days. In addition, the company has been in contact with several utility mutual assistance organizations to determine if crews from other utilities would be available to assist, if needed.
Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.firstenergycorp.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department.
FirstEnergy customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.firstenergycorp.com/connect.
FirstEnergy utilities include: Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Pennsylvania Power (Penn Power), and West Penn Power in Pennsylvania; Mon Power in West Virginia; Potomac Edison in Maryland; and Jersey Central Power & Light in New Jersey.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.
Connect with the companies online at www.firstenergycorp.com, on Twitter at @OhioEdison, @IlluminatingCo, @ToledoEdison, @Met_Ed, @Penelec, @Penn_Power, @W_Penn_Power, @JCP_L, @MonPowerWV, or @PotomacEdison, or on Facebook at www.Facebook.com/OhioEdison, www.Facebook.com/ToledoEdison, www.Facebook.com/IlluminatingCo, www.Facebook.com/MetEdElectric, www.Facebook.com/PenelecElectric, www.Facebook.com/PennPower, www.Facebook.com/WestPennPower, www.Facebook.com/JCPandL.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Jan. 21, 2016 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is prepared to respond to a large winter storm that could impact New Jersey and other parts of the East Coast beginning Friday. The forecasted high winds and heavy, wet snow have the potential to cause trees and limbs to fall into poles, wires and other electrical equipment, requiring JCP&L crews to make repairs in difficult conditions.
Company meteorologists are monitoring a weather system that could produce up to a foot of snow by the weekend, wind gusts of up to 60 mph, particularly along the Jersey shore, and the possibility of coastal flooding.
As a result, JCP&L has implemented its storm plan, including staffing additional dispatchers and analysts at regional dispatch offices, and is making arrangements to bring in additional line, substation and forestry personnel, as needed, based on the severity of the weather. In addition, substations in flood-prone areas are being reinforced with protection devices.
Electrical contractors also have been notified they could be required to assist with storm restoration efforts in JCP&L areas over the next several days. In addition, the company has been in contact with several utility mutual assistance organizations to determine if crews from other utilities would be available to assist, if needed.
"We are monitoring the weather conditions closely and are making plans to deploy resources and personnel to the areas that could get hit the hardest," said Tony Hurley, JCP&L vice president of Operations. "The ultimate goal of our pre-planning efforts is to help speed the restoration process and minimize any inconvenience our customers experience due to the weather."
Customers should never go near a downed power line, even if they think it is no longer carrying electricity. Extra caution should be used in areas where downed lines are tangled in trees or other debris. Motorists are cautioned to treat intersections with inoperable traffic signals as four-way stops.
Customers who are without power are encouraged to call 1-888-LIGHTSS (1-888-544-4877) to report their outage or click the "Report Outage" link on www.jcp-l.com. In the event of severe weather, customers should immediately report downed wires to their utility or their local police or fire department.
JCP&L customers also can subscribe to email and text message alert notifications to receive weather alerts in advance of major storms, and updates on scheduled or extended power outages. Customers can also use two-way text messaging to report outages, request updates on restoration efforts, and make other inquiries about their electric accounts. More information about these communications tools is available online at www.jcp-l.com/connect.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 20, 2016 /PRNewswire/ -- A New Castle, Pa., resident is the winner of Penn Power Company's (Penn Power) "Merry & Bright" Holiday Lights Photo Contest, a competition conducted for the first time on the company's Facebook page.
Grand prize winner Elizabeth Fisher received 325 votes out of more than 1,500 total votes cast on Facebook. She will receive a $250 gift card.
"Our 'Merry & Bright' Holiday Lights Photo Contest showcases some of the most spectacular holiday scenes in Pennsylvania," said Rosemary Spoljarick, manager, Community Involvement, FirstEnergy. "At the same time, the contest is a fun way to raise awareness of Penn Power's social media presence and engage with customers."
Customers were encouraged to submit photos of their homes' outdoor lighting displays on the Penn Power Facebook page during the first several weeks of December. Ten finalists were selected from all entries, and visitors to Penn Power's Facebook page voted to select the winners.
Fisher and her fiancé have been decorating their home together for the last six years, adding to the display each year. The 2015 display included 20,000 lights with show lights that flash in different patterns.
For the last three years, Fisher's family has made trips to surrounding states just to see holiday lights and get inspiration for their scene. Fisher has already purchased an additional 7,000 lights and has ideas to expand the display in 2016.
"My fiancé and I really enjoy decorating for the holidays together and putting smiles on our kids' and friends' faces," Fisher said. "We would like to thank Penn Power for selecting our home as a finalist, and for everyone who voted for us on Facebook."
First prize winner Dana Yule of North Versailles, Pa., received 148 votes on Facebook and will be awarded a $100 gift card. Yule's theme was "winter forest wonderland." This is the first year that Yule has decorated her home for the holidays after accumulating decorations over the last couple of years. She hopes to add to the display next year.
View the winning photos on the Penn Power Facebook page or on Flickr.
Penn Power is a subsidiary of FirstEnergy Corp. (NYSE:FE) and serves more than 160,000 customers in all or parts of Allegheny, Beaver, Butler, Crawford, Lawrence, and Mercer counties in western Pennsylvania. Connect with Penn Power at www.pennpower.com, on Twitter @Penn_Power, or on Facebook at www.facebook.com/PennPower.
Flickr is a registered trademark of Yahoo, Inc.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Jan. 20, 2016 /PRNewswire/ -- As a result of an ongoing infrastructure investment campaign, Jersey Central Power & Light (JCP&L) in 2015 posted its best service reliability numbers in 13 years, which included an 18 percent reduction in the number of outages customers experienced the previous year. Last year, JCP&L customers overall averaged less than one outage for the year, with the average outage time being a little over an hour in duration.
"Over the past 10 years our company has invested more than $2.5 billion on enhancing our electric system, and the work resulted in 2015 producing the best service reliability our customers have experienced in more than a decade," said Jim Fakult, president of JCP&L. "Whether it's additional upgrades to our transmission and distribution systems, training new line and substation workers, or doing ongoing tree trimming work, we will continue with our efforts to enhance service reliability for our customers."
In 2015, JCP&L spent more than $247 million on key projects to enhance customer service reliability, including:
Planning also is underway for the service reliability projects that will be completed in 2016, including new transmission lines and circuit upgrades.
JCP&L also teamed with Brookdale Community College in Lincroft, N.J., and Raritan Valley Community College in Branchburg, N.J., in 2015 to successfully reinstitute its Power Systems Institute Program to train the next generation of line and substation workers. The program combines classroom learning with hands-on training and students who successfully complete the program earn an Associate of Applied Science Degree in Electric Utility Technology. Recruiting efforts are underway for the next class that will begin school this fall. Information about the Power Systems Institute is available at www.firstenergycorp.com/psi or by calling 800-829-6801.
In 2015, JCP&L was recognized as the "Business Leadership of the Year Honoree" by the New Jersey Conference of Mayors. The award recognized the company's continuing efforts to establish strong working relationships with mayors across its service territory.
JCP&L also continued to use several unique apps to more efficiently assess damage to the electrical system and dispatch crews to make repairs in the wake of major storm events. Employees in the field can use this new mobile device technology to automatically enter damage information into the company's outage management system which helps restore the most customers to service in the shortest amount of time.
JCP&L, a FirstEnergy Corp. (NYSE: FE) subsidiary, serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL or online at www.jcp-l.com.
Editor's Note: Photos of some of JCP&L's service reliability enhancements from 2015 are available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 19, 2016 /PRNewswire/ -- Ohio Edison is expanding its customer outreach with the launch of its Facebook page. The new page builds on the company's successful Twitter account, @OhioEdison, to provide customers with important information related to their electric service.
"Social media has become a vital part of Ohio Edison's communication with customers and local officials, particularly during major weather events," said Randall A. Frame, regional president of Ohio Edison and Penn Power. "Twitter has proven to be an effective tool for sharing information and engaging with customers, and we are pleased to offer customers more opportunities to connect through Facebook."
Customers are encouraged to like the Ohio Edison Facebook page by visiting www.facebook.com/OhioEdison. By connecting, customers can:
The launch of the Facebook page is the latest in Ohio Edison's ongoing effort to provide proactive information to customers using a variety of platforms. In addition to social media, Ohio Edison customers can subscribe to alert notifications via email or text message that contain billing reminders, weather alerts in advance of severe storms, or updates on scheduled or extended power outages. Customers also can use two-way text messaging to report outages, request updates on restoration efforts and make other inquiries about their electric accounts.
The company also provides comprehensive outage information through its 24/7 Power Center map and on its website, which is optimized for mobile phones. Additionally, customers can download the Ohio Edison smartphone app for Apple® iPhone® and Android™ devices.
Ohio Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves more than 1 million customers across 36 Ohio counties. Connect with Ohio Edison at www.ohioedison.com, on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.
"Apple" and "iPhone" are registered trademarks of Apple Inc.
"Android" is a trademark of Google Inc.
SOURCE FirstEnergy Corp.
CLEVELAND, Jan. 19, 2016 /PRNewswire/ -- The Illuminating Company is expanding its customer outreach with the launch of its Facebook page. The new page builds on the company's successful Twitter account, @IlluminatingCo, to provide customers with important information related to their electric service.
"Social media has become a vital part of The Illuminating Company's communication with customers and local officials, particularly during major weather events," said John Skory, regional president of The Illuminating Company. "Twitter has proven to be an effective tool for sharing information and engaging with customers, and we are pleased to offer customers more opportunities to connect through Facebook."
Customers are encouraged to like The Illuminating Company's Facebook page by visiting www.facebook.com/IlluminatingCo. By connecting, customers can:
The launch of the Facebook page is the latest in The Illuminating Company's ongoing effort to provide proactive information to customers using a variety of platforms. In addition to social media, Illuminating Company customers can subscribe to alert notifications via email or text message that contain billing reminders, weather alerts in advance of severe storms, or updates on scheduled or extended power outages. Customers also can use two-way text messaging to report outages, request updates on restoration efforts and make other inquiries about their electric accounts.
The company also provides comprehensive outage information through its 24/7 Power Center map and on its website, which is optimized for mobile phones. Additionally, customers can download The Illuminating Company smartphone app for Apple® iPhone® and Android™ devices.
The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves 750,000 customers across Ashtabula, Cuyahoga, Geauga, Lake and Lorain counties. Connect with The Illuminating Company at www.illuminatingcompany.com, on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo.
"Apple" and "iPhone" are registered trademarks of Apple Inc.
"Android" is a trademark of Google Inc.
SOURCE FirstEnergy Corp.
TOLEDO, Ohio, Jan. 19, 2016 /PRNewswire/ -- Toledo Edison is expanding its customer outreach with the launch of its Facebook page. The new page builds on the company's successful Twitter account, @ToledoEdison, to provide customers with important information related to their electric service.
"Social media has become a vital part of Toledo Edison's communication with customers and local officials, particularly during major weather events," said Rich Sweeney, regional president of Toledo Edison. "Twitter has proven to be an effective tool for sharing information and engaging with customers, and we are pleased to offer customers more opportunities to connect through Facebook."
Customers are encouraged to like Toledo Edison's Facebook page by visiting www.facebook.com/ToledoEdison. By connecting, customers can:
The launch of the Facebook page is the latest in Toledo Edison's ongoing effort to provide proactive information to customers using a variety of platforms. In addition to social media, Toledo Edison customers can subscribe to alert notifications via email or text message that contain billing reminders, weather alerts in advance of severe storms, or updates on scheduled or extended power outages. Customers also can use two-way text messaging to report outages, request updates on restoration efforts and make other inquiries about their electric accounts.
The company also provides comprehensive outage information through its 24/7 Power Center map and on its website, which is optimized for mobile phones. Additionally, customers can download the Toledo Edison smartphone app for Apple® iPhone® and Android™ devices.
Toledo Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), serves more than 300,000 customers in northwest Ohio. Connect with Toledo Edison at www.toledoedison.com, on Twitter @ToledoEdison and on Facebook at www.facebook.com/ToledoEdison.
"Apple" and "iPhone" are registered trademarks of Apple Inc.
"Android" is a trademark of Google Inc.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 19, 2016 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), has named Marty Richey site vice president at the Beaver Valley Nuclear Power Station in Shippingport, Pa. In this position, he is responsible for overall management, direction and coordination of operations for the two-unit Beaver Valley plant. He replaces Eric Larson, who will represent FENOC as a loaned executive to the Institute of Nuclear Power Operations in Atlanta, Ga.
"Marty brings to Beaver Valley a diverse background in all aspects of nuclear power operations, particularly outage and work management and performance improvement," said FENOC Chief Nuclear Officer Sam Belcher. "His leadership and experience in the industry will benefit Beaver Valley as the site continues safe operation and pursuit of industry-leading operating performance."
A 27-year veteran of the commercial nuclear power industry, Richey joins FENOC from Entergy's Waterford Nuclear Generating Station in Killona, La., where he was plant manager. He also served in operations leadership roles at Entergy's Grand Gulf Nuclear Station in Port Gibson, Miss., and Vermont Yankee Nuclear Power Station in Vernon, Vt. In addition, Richey has held management positions in performance improvement, radiation protection, maintenance, outage management and work management at Energy's Palisades Power Plant in Covert, Mi., and Florida Power & Light's Turkey Point Nuclear Generating Station in Homestead, Fl., where he earned senior reactor operator certification.
Richey is a veteran of the U.S. Navy Nuclear Power Program, where he served as a mechanical operator and engineering laboratory technician. He holds a Bachelor of Science degree from Siena Heights University in Adrian, Mi.
FirstEnergy is a diversified energy company headquartered in Akron, Ohio. In addition to Beaver Valley, its FENOC subsidiary operates the Davis-Besse Nuclear Power Station in Oak Harbor, Ohio and the Perry Nuclear Power Plant in Perry, Ohio. Visit FENOC on the web at www.fenoc.com, and follow the nuclear plants on Twitter: @Perry_Plant, @BVPowerStation, and @DavisBesse.
Editor's Note: A photo of Richey is available on Flickr.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 19, 2016 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) today announced that Thomas N. Mitchell, 60, has been elected to the company's Board of Directors. Mitchell is a nuclear industry veteran with 38 years of experience, including leadership positions at key industry groups including the World Association of Nuclear Operators (WANO), the Institute of Nuclear Power Operations (INPO), the Nuclear Energy Institute (NEI) and the Electric Power Research Institute (EPRI).
"Tom is a well-respected leader in the nuclear industry," said George M. Smart, chairman of FirstEnergy's Board of Directors. "We believe his experience leading business transformations and strategy development at large organizations, together with his deep knowledge of energy issues, governance, research and implementation, will benefit FirstEnergy and its shareholders."
Mitchell retired in 2015 as president, CEO and director of Ontario Power Generation Inc. (OPG). He previously served as chief nuclear officer; senior vice president, Pickering B Station; and vice president, Nuclear Support at OPG.
From 1982 until 2001 he worked at INPO, including 11 years on assignment at the Peach Bottom Atomic Power Station in Delta, Pa., where he rose to site vice president. Mitchell was then named INPO's vice president, Assistance and International Programs, from 1998 to 2001.
Mitchell was involved with WANO from 2009 until 2015, serving as chairman of the Atlanta Centre Regional Governing Board and member of World Governing Body; chair of the Governance and Nominating Committee; and chair of the High-Level Commission, Post-Fukushima Recommendations. In addition he served as WANO's deputy director of Atlanta Centre from 2000 to 2001. He was a director at NEI from 2013 to 2015, and at EPRI from 2012 to 2015, where he was a Leadership and Compensation Committee member.
From 2011 to 2015 he was a director of Plug'n Drive, a Canadian non-profit focused on electric vehicle implementation strategies.
A United States Navy veteran, Mitchell served as a lieutenant in the area of naval reactors.
He received an undergraduate degree in engineering from Cornell University; a Master of Science degree in mechanical engineering from George Washington University; and an LL.D. – an honorary doctorate degree – from the University of Ontario Institute of Technology. He also attended the Bettis Reactor Engineering School offered by Westinghouse Electric Company, and completed the Public Utility Executive Program at the University of Michigan and the Institute of Corporate Directors Course at Rotman School of Business.
In October 2015 Mitchell received the WANO Nuclear Excellence Award for lifetime contributions to the industry.
The election of Mitchell brings the size of FirstEnergy's Board to 14 members.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
A photo of Mitchell is available for download on Flickr.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 19, 2016 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable March 1, 2016, to shareholders of record at the close of business on February 5, 2016.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, while its generation subsidiaries control nearly 17,000 megawatts of capacity from a diversified mix of scrubbed coal, non-emitting nuclear, natural gas, hydro and other renewables. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. Dividends declared from time to time on FirstEnergy Corp.'s common stock during any period may in the aggregate vary from prior periods due to circumstances considered by FirstEnergy Corp.'s Board of Directors at the time of the actual declarations. A security rating is not a recommendation to buy or hold securities and is subject to revision or withdrawal at any time by the assigning rating agency. Each rating should be evaluated independently of any other rating. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
GREENSBURG, Pa., Jan. 18, 2016 /PRNewswire/ -- A Carmichaels, Pa., resident is the winner of West Penn Power Company's (West Penn Power) "Merry & Bright" Holiday Lights Photo Contest, a competition conducted for the first time on the company's Facebook page.
Grand prize winner Raymond Lessick and family received more than 1,600 votes out of more than 5,000 total votes cast on Facebook. They will receive a $250 gift card.
"Our 'Merry & Bright' Holiday Lights Photo Contest showcases some of the most spectacular holiday scenes in Pennsylvania," said Rosemary Spoljarick, manager, Community Involvement, FirstEnergy. "At the same time, the contest is a fun way to raise awareness of West Penn Power's social media presence and engage with customers."
Customers were encouraged to submit photos of their homes' outdoor lighting displays on the West Penn Power Facebook page during the first several weeks of December. Ten finalists were selected from all entries, and visitors to West Penn Power's Facebook page voted to select the winners.
Lessick's family has been decorating for the holidays for more than 30 years. A tradition started by his parents, Lessick creates a display each year, and says his family will continue to do so for a long time.
According to Lessick, the display has grown a little each year. The 2015 display featured dozens of different shapes, including a Santa on the roof.
"All of the hard work is worthwhile when you see smiles on the faces of the families who stop by each year as part of their Christmas tradition," Lessick said. "We would like to thank West Penn Power for selecting our home as a finalist, and for everyone who voted for us on Facebook."
First prize winner Jaydene Nelson of Scottdale, Pa., received 1,370 votes on Facebook and will be awarded a $100 gift card. Nelson's display included more than 10,000 lights that covered two sides of her home. The house was also outlined with lights in straight lines, and icicle lights lined the roof and eves. This past holiday season, Nelson hand painted the Grinch and his dog Max along with Cindy Lou and the Whoville people on her fence.
View the winning photos on the West Penn Power Facebook page or on Flickr.
West Penn Power is a subsidiary of FirstEnergy Corp. (NYSE: FE). West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Follow West Penn Power on Twitter @W_Penn_Power, on Facebook at www.facebook.com/WestPennPower, and online at www.west-penn-power.com.
Flickr is a registered trademark of Yahoo, Inc.
SOURCE FirstEnergy Corp.
MORRISTOWN, N.J., Jan. 18, 2016 /PRNewswire/ -- A Berkeley Township, N.J., resident is the winner of Jersey Central Power & Light's (JCP&L) third annual "Merry & Bright" Holiday Lights Photo Contest, a competition conducted on the JCP&L Facebook page.
Grand prize winner Tom Makowski received more than 2,840 votes out of more than 8,200 total votes cast on Facebook. He will receive a $250 gift card.
"Once again, participants in our 'Merry & Bright' Holiday Lights Photo Contest developed some of the most spectacular holiday scenes in northern and central New Jersey," said Mark Jones, vice president, External Affairs, JCP&L. "Thank you to everyone who took the time to visit our Facebook page to enter the contest and vote for their favorite display."
Customers were encouraged to submit photos of their homes' outdoor lighting displays on the JCP&L Facebook page during the first several weeks of December. Ten finalists were selected from all entries, and visitors to JCP&L's Facebook page voted to select the winners.
When Makowski began decorating his home for the holidays, he started with 17,000 lights and five lawn figures. Each year, his daughter challenged him to double the display, and in 2015 he included 70,000 lights and more than 125 lawn figures.
Other unique features included a 17-foot Christmas tree, a dancing Santa and all nine reindeer on the roof. He also added six dancing trees on the lawn, two of which were 20 feet tall and used 9,600 lights each. Also new to the display this year was the popular Elf on the Shelf, which moved to a different spot each day.
Makowski said he has already accepted his daughter's challenge to double the display to 140,000 lights in 2016.
"I have been working on an exciting addition to the display for two years, and expect it to be completed and fully programmed by next November. It's a surprise," said Makowski. "We would like to thank JCP&L for selecting our home as a finalist, and everyone who voted for us on Facebook."
First prize winner Brandon Gress of Union Beach, N.J., received 2,746 votes on Facebook and will be awarded a $100 gift card.
View the winning photos on the JCP&L Facebook page or on Flickr.
JCP&L is a subsidiary of FirstEnergy Corp. (NYSE: FE). JCP&L serves 1.1 million New Jersey customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on Twitter @JCP_L, on Facebook at www.facebook.com/JCPandL, or online at www.jcp-l.com.
Flickr is a registered trademark of Yahoo, Inc.
SOURCE FirstEnergy Corp.
ERIE, Pa., Jan. 18, 2016 /PRNewswire/ -- An Erie, Pa., resident is the winner of Pennsylvania Electric Company's (Penelec) second-annual "Merry & Bright" Holiday Lights Photo Contest, a competition conducted on the company's Facebook page.
Grand prize winner Israel Medina received more than 1,000 votes out of more than 2,600 total votes cast on Facebook. She will receive a $250 gift card.
"Once again, participants in our 'Merry & Bright' Holiday Lights Photo Contest developed some of the most spectacular holiday scenes in Pennsylvania," said Rosemary Spoljarick, manager, Community Involvement, FirstEnergy. "Thank you to everyone who took the time to visit our Facebook page to enter the contest and vote for their favorite display."
Customers were encouraged to submit photos of their homes' outdoor lighting displays on the Penelec Facebook page during the first several weeks of December. Ten finalists were selected from all entries, and visitors to Penelec's Facebook page voted to select the winners.
The holidays are Medina's favorite time of year, and she has been decorating her home for the last four years. Her display included approximately 40,000 lights and incorporated themes such as The Christmas Story and The Virtual Grinch. The display also featured a laser show and inflatable, 8-foot bears on the porch. Visitors could tune into a dedicated radio station to hear more than 50 holiday songs as they passed by.
"Growing up, we never had many houses decorated for Christmas, so I always planned to do this when I had own my house," Medina said. "I would like to thank Penelec for selecting our home as a finalist, and for everyone that voted for us on Facebook. Winning the contest made 2015 a wonderful year!"
First prize winner Brian Rydbom of Coalport, Pa., received more than 620 votes on Facebook. He will be awarded a $100 gift card. Rydbom's 1-acre property displayed more than 48,500 lights with decorated sheds, trees and garage, blow-up decorations, a patriotic display, gardens and a corral. Next year, he plans to create a singing snowman to complement his singing Christmas tree.
View the winning photos on the Penelec Facebook page or on Flickr.
Penelec is a subsidiary of FirstEnergy Corp. (NYSE: FE). Penelec serves approximately 600,000 customers in 31 Pennsylvania counties. Learn more about Penelec at www.penelec.com. Follow Penelec on Twitter @Penelec and on Facebook at www.facebook.com/PenelecElectric.
Flickr is a registered trademark of Yahoo, Inc.
SOURCE FirstEnergy Corp.
READING, Pa., Jan. 18, 2016 /PRNewswire/ -- A Hanover, Pa., resident is the winner of Metropolitan Edison Company's (Met-Ed) third annual "Merry & Bright" Holiday Lights Photo Contest, a competition conducted on the company's Facebook page.
Grand prize winner Kevin Ohl received more than 730 votes out of more than 1,400 total votes cast on Facebook. He will receive a $250 gift card.
"Once again, participants in our 'Merry & Bright' Holiday Lights Photo Contest developed some of the most spectacular holiday scenes in eastern Pennsylvania," said Elaine Vincent, manager, Community Involvement, FirstEnergy. "Thank you to everyone who took the time to visit our Facebook page to enter the contest and vote for their favorite display."
Customers were encouraged to submit photos of their homes' outdoor lighting displays on the Met-Ed Facebook page during the first several weeks of December. Ten finalists were selected from all entries, and visitors to Met-Ed's Facebook page voted to select the winners.
Ohl and his family have been decorating their home during the holidays for 13 years, adding something new each year. The 2015 display included 40,000 lights along with penguins having a snowball fight, ponds with ducks and jumping fish, jumping gingerbread men, a flying angel, a mountain waterfall with deer and much more.
Each year, the Ohl family hosts an open house in December for area families to see the lights and visit with Santa. Santa hands out candy canes and the Ohl family supplies hot chocolate, cookies, Christmas music and a toasty fire to keep warm. When the tradition began 13 years ago, Santa handed out about 20 candy canes; today, he hands out more than 250.
"People come from all around to see Santa and the lights. The most amazing part of the event is witnessing all the children grow up through the years," Ohl said. "We would like to thank Met-Ed for selecting our home as a finalist, and for everyone who voted for us on Facebook."
First prize winner Gary Lerch, Jr., of Bath, Pa., received more than 360 votes on Facebook and will be awarded a $100 gift card. Lerch's display included 38,000 LED and incandescent lights that are programmed to music and 32 channels of computer animation. He plans to increase the number of lights to 50,000 next year.
View the winning photos on the Met-Ed Facebook page or on Flickr.
Met-Ed is a subsidiary of FirstEnergy Corp. (NYSE: FE). Met-Ed serves approximately 550,000 in 15 Pennsylvania counties. Learn more about Met-Ed at www.met-ed.com. Follow Met-Ed on Twitter @Met_Ed and on Facebook at www.facebook.com/MetEdElectric.
Flickr is a registered trademark of Yahoo, Inc.
SOURCE FirstEnergy Corp.
AKRON, Ohio, Jan. 14, 2016 /PRNewswire/ -- FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy Corp. (NYSE: FE), has promoted David B. Hamilton to site vice president at the Perry Nuclear Power Plant in Perry, Ohio. In this position, he is responsible for overall management, direction and coordination of operation of the Perry Plant. Hamilton succeeds Ernie Harkness, who has elected to retire.
In a related move, Frank Payne has been named general plant manager at Perry, the position most recently held by Hamilton. Payne is responsible for overseeing the Operations, Radiation Protection, Chemistry and Maintenance activities at the plant.
"Under Ernie and David's leadership, Perry has continued to strengthen its safe, reliable operating record and made significant strides toward achieving top industry performance in all areas," said FENOC President and Chief Nuclear Officer Samuel Belcher. "I am highly confident Perry will build on this momentum under David's continued guidance and further benefit from the skills and perspectives Frank brings to the management team."
With more than 23 years of experience in the nuclear power industry, Hamilton came to FENOC in 2012 as director of Fleet Project Management. He was promoted to director of Site Operations at Perry – the position now known as general plant manager – in July 2013. Prior to FENOC, Hamilton served as director of Nuclear Safety Assurance at Entergy's Waterford Plant in Killona, La. He also has served as general manager of Plant Operations at Entergy's Palisades Plant in Covert, Michigan, and worked at Exelon's Limerick and Peach Bottom Generating Plants in Pennsylvania and Quad Cities Generating Station in Illinois.
Hamilton received a bachelor's degree in nuclear engineering from Penn State University and a master's degree in business administration from the University of Delaware. He also holds a boiling water reactor senior reactor certification from the Limerick Generating Station in Limerick, Pa.
Payne joins FENOC from Duke Energy, where he was most recently the Work Control Manager at the Brunswick Nuclear Power Plant in Southport, NC. He also has held Radiation Protection, Planning, Scheduling, Work Control and Operations leadership positions at Exelon's Nine Mile Point Plant in New York. A veteran of the United States Navy, Payne began his career as an instructor and engineering laboratory technician.
Payne earned a bachelor of science degree in Nuclear Technology from Excelsior College in Albany, NY, and an associate degree in radiation therapy.
FirstEnergy is a diversified energy company headquartered in Akron, Ohio. Its FENOC subsidiary operates the Beaver Valley Power Station, the Davis-Besse Nuclear Power Station and the Perry Nuclear Power Plant. More information about FENOC is available at www.fenoc.com. Follow the Perry Nuclear Power Plant on Twitter at @Perry_Plant.
Editor's Note: Photos of Hamilton and Payne are available on Flickr.
SOURCE FirstEnergy Corp.
FAIRMONT, W.Va., Dec. 23, 2015 /PRNewswire/ -- Mon Power and Potomac Edison, subsidiaries of FirstEnergy Corp. (NYSE: FE), announced today that the Public Service Commission (PSC) of West Virginia has approved settlement agreements allowing recovery of costs for enhanced tree-trimming programs and higher fuel and purchased power expenses incurred by the utilities.
The settlements were negotiated by the utilities and the PSC Staff, the Consumer Advocate Division, West Virginia Energy Users Group and the West Virginia Citizen Action Group. As a result, the monthly bill for a typical residential customer using 1,000 kilowatt-hours of electricity will rise about $9. Even with the increase, rates for Mon Power and Potomac Edison residential customers will be about 16 percent below the national average. The new rates will be effective for the companies' West Virginia customers beginning January 1, 2016.
Since implementing the enhanced vegetation management program in 2014, Mon Power and Potomac Edison circuits have experienced significantly fewer tree-related outages in areas where tree trimming has been conducted to the new standards. Tree-trimming activities have been completed along more than 7,000 miles of power line right-of-ways across more than 19,000 acres to date. The PSC approved the companies' vegetation management program in April 2014.
Under a cost recovery process established by the PSC in 2007, Mon Power and Potomac Edison customer bills are adjusted annually to reflect increases or decreases in the cost of fuel used to generate electricity and purchased power. Mon Power and Potomac Edison do not profit from increased fuel and purchased power costs.
Mon Power, a FirstEnergy electric distribution company, serves about 385,000 customers in the northern half of West Virginia and Potomac Edison serves about 140,000 customers in the state's Eastern Panhandle. Follow the companies on Twitter @MonPowerWV and @PotomacEdison.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. Visit FirstEnergy on the web at www.firstenergycorp.com or follow FirstEnergy on Twitter @FirstEnergyCorp.
Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements include declarations regarding management's intents, beliefs and current expectations. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. Forward-looking statements involve estimates, assumptions, known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements, which may include the following: the speed and nature of increased competition in the electric utility industry, in general, and the retail sales market in particular; the ability to experience growth in the Regulated Distribution and Regulated Transmission segments and to successfully implement our revised sales strategy for the Competitive Energy Services segment; the accomplishment of our regulatory and operational goals in connection with our transmission investment plan, including but not limited to, our pending transmission rate case, the proposed transmission asset transfer, and the effectiveness of our repositioning strategy to reflect a more regulated business profile; changes in assumptions regarding economic conditions within our territories, assessment of the reliability of our transmission system, or the availability of capital or other resources supporting identified transmission investment opportunities; the impact of the regulatory process on the pending matters at the federal level and in the various states in which we do business including, but not limited to, matters related to rates and the Electric Security Plan IV in Ohio; the impact of the federal regulatory process on the Federal Energy Regulatory Commission (FERC)-regulated entities and transactions, in particular FERC regulation of wholesale energy and capacity markets, including PJM Interconnection, L.L.C. (PJM) markets and FERC-jurisdictional wholesale transactions; FERC regulation of cost-of-service rates, including FERC Opinion No. 531's revised Return on Equity methodology for FERC-jurisdictional wholesale generation and transmission utility service; and FERC's compliance and enforcement activity, including compliance and enforcement activity related to North American Electric Reliability Corporation's mandatory reliability standards; the uncertainties of various cost recovery and cost allocation issues resulting from American Transmission Systems, Incorporated's realignment into PJM; economic or weather conditions affecting future sales and margins such as a polar vortex or other significant weather events, and all associated regulatory events or actions; changing energy, capacity and commodity market prices including, but not limited to, coal, natural gas and oil, and their availability and impact on margins and asset valuations; the continued ability of our regulated utilities to recover their costs; costs being higher than anticipated and the success of our policies to control costs and to mitigate low energy, capacity and market prices; other legislative and regulatory changes, and revised environmental requirements, including, but not limited to, the effects of the United States Environmental Protection Agency's Clean Power Plan, coal combustion residuals regulations, Cross-State Air Pollution Rule and Mercury and Air Toxics Standards programs, including our estimated costs of compliance, Clean Water Act waste water effluent limitations for power plants, and Clean Water Act 316(b) water intake regulation; the uncertainty of the timing and amounts of the capital expenditures that may arise in connection with any litigation, including New Source Review litigation, or potential regulatory initiatives or rulemakings (including that such initiatives or rulemakings could result in our decision to deactivate or idle certain generating units); the uncertainties associated with the deactivation of certain older regulated and competitive fossil units, including the impact on vendor commitments, and as they relate to the reliability of the transmission grid, the timing thereof; the impact of other future changes to the operational status or availability of our generating units and any capacity performance charges associated with unit unavailability; adverse regulatory or legal decisions and outcomes with respect to our nuclear operations (including, but not limited to the revocation or non-renewal of necessary licenses, approvals or operating permits by the Nuclear Regulatory Commission or as a result of the incident at Japan's Fukushima Daiichi Nuclear Plant); issues arising from the indications of cracking in the shield building at Davis-Besse; the risks and uncertainties associated with litigation, arbitration, mediation and like proceedings, including, but not limited to, any such proceedings related to vendor commitments; the impact of labor disruptions by our unionized workforce; replacement power costs being higher than anticipated or not fully hedged; the ability to comply with applicable state and federal reliability standards and energy efficiency and peak demand reduction mandates; changes in customers' demand for power, including, but not limited to, changes resulting from the implementation of state and federal energy efficiency and peak demand reduction mandates; the ability to accomplish or realize anticipated benefits from strategic and financial goals, including, but not limited to, the ability to continue to reduce costs and to successfully execute our financial plans designed to improve our credit metrics and strengthen our balance sheet through, among other actions, our previously-implemented dividend reduction, our cash flow improvement plan and our other proposed capital raising initiatives; our ability to improve electric commodity margins and the impact of, among other factors, the increased cost of fuel and fuel transportation on such margins; changing market conditions that could affect the measurement of certain liabilities and the value of assets held in our Nuclear Decommissioning Trusts, pension trusts and other trust funds, and cause us and/or our subsidiaries to make additional contributions sooner, or in amounts that are larger than currently anticipated; the impact of changes to material accounting policies; the ability to access the public securities and other capital and credit markets in accordance with our financial plans, the cost of such capital and overall condition of the capital and credit markets affecting us and our subsidiaries; actions that may be taken by credit rating agencies that could negatively affect us and/or our subsidiaries' access to financing, increase the costs thereof, and increase requirements to post additional collateral to support outstanding commodity positions, letters of credit and other financial guarantees; changes in national and regional economic conditions affecting us, our subsidiaries and/or our major industrial and commercial customers, and other counterparties with which we do business, including fuel suppliers; the impact of any changes in tax laws or regulations or adverse tax audit results or rulings; issues concerning the stability of domestic and foreign financial institutions and counterparties with which we do business; the risks associated with cyber-attacks on our electronic data centers that could compromise the information stored on our networks, including proprietary information and customer data; and the risks and other factors discussed from time to time in our United States Securities and Exchange Commission filings, and other similar factors. The foregoing review of factors should not be construed as exhaustive. New factors emerge from time to time, and it is not possible for management to predict all such factors, nor assess the impact of any such factor on FirstEnergy's business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statements. FirstEnergy expressly disclaims any current intention to update, except as required by law, any forward-looking statements contained herein as a result of new information, future events or otherwise.
SOURCE FirstEnergy Corp.
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