FirstEnergy Solutions Extends Successful Discount Electricity Offer to More Customers

Mon Jul 6, 2009 1:50pm EDT
 
[-] Text [+]
FirstEnergy Solutions Extends Successful Discount Electricity Offer to More
Customers

AKRON, Ohio, July 6 /PRNewswire-FirstCall/ -- FirstEnergy Solutions (FES)
announced that, because more than 10,000 people have already signed up to save
money through the company's discount electric generation offer, the program
will be extended to provide more customers with guaranteed savings.

"In light of the enthusiastic response to our competitive offer, we're pleased
to extend it to even more utility customers in Northeast Ohio," said Arthur
Yuan, vice president of Sales and Marketing for FES.  "This is the best offer
available to electric customers in the market today because it provides
guaranteed savings."  

Customers must act before July 13, 2009, to lock in savings of 10 percent off
generation prices for the remainder of 2009 and 5 percent off through 2010. 
Customers who sign up by the FES deadline also will be entered into a drawing
to win free electric generation from FES for a year.

"Customers who live in communities represented by Northeast Ohio Public Energy
Council, or NOPEC, should look carefully at the fixed-price offer they
received from this aggregation group because there will be winners and
losers," Yuan said.  "With FES, everyone enjoys guaranteed savings every
month, and they are buying from a local company with strong ties to our
communities instead of from NOPEC's Florida-based supplier."

Customers interested in learning more about the FES offer should contact the
company at 1-877-524-SAVE (7283) or online at www.fes.com/save.  All that is
needed is the 20-digit customer number from a current electric bill.  

FES is the competitive subsidiary of FirstEnergy Corp., (NYSE: FE).  FES is
the generation supplier for more than 500,000 residential and small business
customers in 50 communities that are part of government aggregation groups in
northern Ohio.  Customers that are part of these groups receive similar
savings through 2011.  FES also is a licensed supplier in Pennsylvania, New
Jersey, Maryland, Michigan and Illinois.

FirstEnergy is a diversified energy company headquartered in Akron, Ohio.  Its
subsidiaries and affiliates are involved in the generation, transmission and
distribution of electricity, as well as energy management and other
energy-related services.  Its generating affiliates own or control more than
14,000 megawatts of generating 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 our management's intents, beliefs and current
expectations. These statements typically contain, but are not limited to, the
terms "anticipate," "potential," "expect," "believe," "estimate" 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. Actual results may differ materially due to the
speed and nature of increased competition in the electric utility industry and
legislative and regulatory changes affecting how generation rates will be
determined following the expiration of existing rate plans in Pennsylvania,
the impact of the PUCO's regulatory process on the Ohio Companies associated
with the distribution rate case, the impact of the competitive generation
procurement process in Ohio, economic or weather conditions affecting future
sales and margins, changes in markets for energy services, changing energy and
commodity market prices and availability, replacement power costs being higher
than anticipated or inadequately hedged, the continued ability of
FirstEnergy's regulated utilities to collect transition and other charges or
to recover increased transmission costs, maintenance costs being higher than
anticipated, other legislative and regulatory changes, revised environmental
requirements, including possible greenhouse gas emission regulations, the
potential impacts of the U.S. Court of Appeals' July 11, 2008 decision
requiring revisions to the CAIR rules and the scope of any laws, rules or
regulations that may ultimately take their place, the uncertainty of the
timing and amounts of the capital expenditures needed to, among other things,
implement the AQC Plan (including that such amounts could be higher than
anticipated or that certain generating units may need to be shut down) or
levels of emission reductions related to the Consent Decree resolving the NSR
litigation or other potential regulatory initiatives, adverse regulatory or
legal decisions and outcomes (including, but not limited to, the revocation of
necessary licenses or operating permits and oversight) by the NRC (including,
but not limited to, the Demand for Information issued to FENOC on May 14,
2007), Met-Ed's and Penelec's transmission service charge filings with the
PPUC, the continuing availability of generating units and their ability to
operate at or near full capacity, the ability to comply with applicable state
and federal reliability standards, the ability to accomplish or realize
anticipated benefits from strategic goals (including employee workforce
initiatives), the ability to improve electric commodity margins and to
experience growth in the distribution business, the changing market conditions
that could affect the value of assets held in FirstEnergy's nuclear
decommissioning trusts, pension trusts and other trust funds, and cause it to
make additional contributions sooner, or in an amount that is larger than
currently anticipated, the ability to access the public securities and other
capital and credit markets in accordance with FirstEnergy's financing plan and
the cost of such capital, changes in general economic conditions affecting the
company, the state of the capital and credit markets affecting the company,
interest rates and any actions taken by credit rating agencies that could
negatively affect FirstEnergy's access to financing or its costs and increase
its requirements to post additional collateral to support outstanding
commodity positions, letters of credit and other financial guarantees, the
continuing decline of the national and regional economy and its impact on
FirstEnergy's major industrial and commercial customers, issues concerning the
soundness of financial institutions and counterparties with which FirstEnergy
does business, and the risks and other factors discussed from time to time in
its SEC 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 its 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 any forward-looking statements
contained herein as a result of new information, future events, or otherwise.

SOURCE  FirstEnergy Corp.

Ellen Raines of FirstEnergy, +1-330-384-5808

 

Featured Broker sponsored link

Editor's Choice

A selection of our best photos from the past 24 hours.  Slideshow 

Most Popular on Reuters

  • Articles
  • Video