FirstEnergy Corp Serves Over 6 Million Customers

By Chris Stiles • Wednesday, February 18 11:25 • Permanent Link

FirstEnergy Corp. has recently released its 10-K report, providing a comprehensive overview of its business operations. The company is primarily involved in the generation, distribution, and transmission of electricity in the United States, serving over 6 million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. FirstEnergy operates through three main segments: Distribution, Integrated, and Stand-Alone Transmission. It owns and operates various power generating facilities, including coal-fired, nuclear, hydroelectric, wind, and solar power plants, and manages over 252,000 distribution line miles and 24,000 transmission line miles.

In the 10-K report, FirstEnergy Corp. discusses its financial condition and results of operations in ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. The report includes forward-looking statements, cautioning readers about the potential risks and uncertainties that could impact the company's future performance. These risks include government investigations, litigation, economic conditions, weather variations, regulatory developments, access to capital markets, cybersecurity threats, and changes in tax laws, among others.

The report also provides an executive summary and recent developments, outlining the company's investment strategy and financial plans. FirstEnergy aims to invest approximately $36 billion from 2026 to 2030 under its customer-focused Energize365 investment plan, with a focus on improving grid reliability, resiliency, and supporting growing customer demand. The company plans to fund these capital investments through a combination of organic cash flows, debt issuance, including hybrid securities, and the issuance of common equity.

FirstEnergy's 10-K report offers a detailed breakdown of its segments, including the Distribution segment, Integrated segment, Stand-Alone Transmission segment, and Corporate/Other. It provides insights into the company's regulated operations, transmission infrastructure, generation capacity, and corporate support and other costs.

As a result of these announcements, the company's shares have moved 1.65% on the market, and are now trading at a price of $47.34. If you want to know more, read the company's complete 10-K report here.

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