Joint Stipulation Demonstrates Broad Support from Diverse Parties
FirstEnergy Corp.'s Ohio utilities filed a joint stipulation agreement on December 22, 2014, demonstrating broad support for Powering Ohio's Progress, their proposed Electric Security Plan (ESP) currently pending before the Public Utilities Commission of Ohio.
The proposed stipulation reflects the diverse interests and concerns of 15 signatories, including parties that represent residential, commercial, industrial and low-income customers, as well as organized labor and schools. The agreement supports FirstEnergy's proposed ESP that outlines plans for its Ohio utilities – Ohio Edison, Cleveland Electric Illuminating and Toledo Edison – to provide electric service to customers for a three-year period from June 1, 2016 through May 31, 2019.View Full Story
On December 16, 2014, FirstEnergy Corp. (NYSE: FE) announced that its Board of Directors elected Anthony J. Alexander, 63, executive chairman of the company, effective January 1, 2015. He will be succeeded as president and chief executive officer by Charles E. Jones, 59, who also was elected to the company's Board of Directors. Jones most recently served as executive vice president and president, FirstEnergy Utilities. George M. Smart, currently chairman of the FirstEnergy Board of Directors, will be lead independent director during the transition period.View Full Story
FirstEnergy Corp. subsidiaries Mon Power and Potomac Edison announce on November 3, 2014, the filing of a settlement agreement with the Public Service Commission (PSC) of West Virginia. The agreement was reached with the PSC staff, the state's Consumer Advocate Division, the West Virginia Energy Users Group and Wal-Mart.
The settlement agreement includes recovery of expenses associated with storm repairs from the 2012 Derecho and Hurricane Sandy, increased operating and environmental compliance investments at coal-fired power plants, and service reliability enhancements to the distribution system, including a more extensive tree trimming program to help limit power outages.View Full Story
Training Program for Future Utility Workers
FirstEnergy Corp.'s award-winning Power Systems Institute (PSI) is being reinstated as the company looks to train the next generation of utility line and substation workers.
PSI is a two-year program that combines hands-on utility skills with technical coursework. Program graduates will earn an Associate of Technical Studies degree with a focus on electric power utility technology.
FirstEnergy originally introduced PSI in 2000 as a way to help replace retiring line workers. Programs were established at colleges throughout the company's six-state service area. With the economic downturn, in 2011 most of the PSI programs were placed on hold because projected hiring needs did not support bringing in new students. As future workforce needs at FirstEnergy were re-evaluated, the decision was made to reinstate the PSI program, targeting a fall of 2015 enrollment class.
For more information, including a list of partner colleges, visit FirstEnergy's PSI page at www.firstenergycorp.com/psi.View Full Story
02/23/2015JCP&L Plans to Spend $267 Million in 2015 to Enhance Electric System
Jersey Central Power & Light (JCP&L) plans to spend about $267 million in 2015 on projects and other work to enhance and maintain a strong electrical system and help meet future load growth in its 13-county New Jersey service area.
02/19/2015FirstEnergy Senior Vice President and CFO James Pearson to Speak at Credit Suisse Energy Summit
FirstEnergy Corp. (NYSE: FE) today announced that Senior Vice President and Chief Financial Officer James F. Pearson will give a presentation at the Credit Suisse Energy Summit 2015 on Tuesday, February 24, 2015, at approximately 11:10 a.m. EST.
02/17/2015FirstEnergy Announces Fourth Quarter and Full Year 2014 Results
FirstEnergy Corp. (NYSE: FE) today reported 2014 operating (non-GAAP) earnings* of $2.56 per basic share of common stock, near the upper end of the company's most recent guidance range. These results exclude the impact of the special items listed below. GAAP earnings for 2014 were $299 million, or $0.71 per basic and diluted share of common stock, on revenue of $15 billion. In 2013, operating (non-GAAP) earnings were $3.04 per basic share of common stock, while GAAP earnings were $392 million, or $0.94 per basic and diluted share of common stock, on revenue of $14.9 billion.
02/17/2015Anthony J. Alexander Concludes 43 Years of Service at FirstEnergy
FirstEnergy Corp. (NYSE: FE) announced today that Anthony J. Alexander, 63, will conclude his role as executive chairman on April 30, 2015, after 43 years with the company. He also will leave FirstEnergy's Board of Directors effective May 1, 2015.
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