FirstEnergy Corp.
Capital Structure
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in mil. unless spec.Company Description
- CEO
- Brian X. Tierney
- Full Time Employees
- 11,186
- Sector
- Utilities
- Industry
- Electric utilities
- Address
- 341 White Pond Drive Akron OH United States 44320
- IPO Date
- Sep 13, 1946
- CIK
- 0001031296
- Website
- firstenergycorp.com
- Similar Companies
- Business
- FirstEnergy Corp. is a diversified electric utility holding company primarily engaged in the generation, transmission, and distribution of electricity in the United States. The company operates through three segments: Distribution, Integrated, and Stand-Alone Transmission. Its core products and services include electricity generation from diverse sources such as coal-fired, nuclear, hydroelectric, wind, and solar power facilities; electricity transmission across more than 24,000 miles of transmission lines managed from two regional transmission operation centers; and electricity distribution covering approximately 252,000 miles of distribution lines that provide primary, secondary, and street lighting circuits. FirstEnergy’s regulated electric systems serve over 6 million customers primarily in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. The company also offers energy management and other energy-related services through its subsidiaries. Founded in 1996 and headquartered in Akron, Ohio, FirstEnergy is one of the largest investor-owned electric systems in the US. Recent major changes include the extension and expansion of the Energize365 capital investment program through 2029, with planned system-wide capital investments of $28 billion—an 8% increase from the previous five-year plan—focused on grid modernization, enhancing system reliability and resilience, and supporting the energy transition. In 2024 alone, the company invested $4.5 billion under this program, a 20% increase over 2023. FirstEnergy is also expanding its solar generation capacity with the addition of 50 MW from multiple new solar sites in West Virginia, enhancing its renewable energy portfolio. Operationally, the company completed the sale of an additional 30% ownership interest in its standalone transmission business, FirstEnergy Transmission LLC, to Brookfield Super-Core Infrastructure Partners for $3.5 billion, aligning with strategic goals to strengthen capital resources and partnerships for growth. Furthermore, FirstEnergy continues to implement advanced technology such as remote-controlled equipment and outage prediction systems to reduce service interruptions and improve customer reliability. Overall, FirstEnergy Corp. operates as a comprehensive energy services provider with a focus on traditional and renewable generation, robust transmission infrastructure, and extensive distribution networks across the Midwest and Mid-Atlantic regions of the United States, maintaining a strong commitment to capital investment and modernization to meet evolving customer needs and regulatory standards.
Company News
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