Profile: Firstenergy Corp (FE.N)
21 May 2013
FirstEnergy Corp. (FirstEnergy) is engaged in the holding, directly or indirectly, of its subsidiaries: Ohio Edison Company (OE), The Cleveland Electric Illuminating Company (CEI), The Toledo Edison Company (TE), Pennsylvania Power Company (Penn) (a wholly owned subsidiary of OE), American Transmission Systems, Incorporated (ATSI), Jersey Central Power & Light Company (JCP&L), Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec), Allegheny Energy, Inc. (AE) and its principal subsidiaries (Allegheny Energy Supply Company, LLC (AE Supply), Allegheny Generating Company (AGC), Monongahela Power Company (MP), The Potomac Edison Company (PE), West Penn Power Company (WP), Allegheny Energy Transmission, LLC (AET) and its principal subsidiaries (Trans-Allegheny Interstate Line Company (TrAIL) and Potomac-Appalachian Transmission Highline, LLC (PATH)), and Allegheny Energy Service Corporation (AESC)), FirstEnergy Solutions Corp. (FES) and its principal subsidiaries (FirstEnergy Generation Corp. (FGCO) and FirstEnergy Nuclear Generation Corp. (NGC)), and FirstEnergy Service Company (FESC). In addition, FirstEnergy holds other direct subsidiaries, including FirstEnergy Properties, Inc., FirstEnergy Ventures Corp. (FEV), FirstEnergy Nuclear Operating Company (FENOC), FELHC, Inc., FirstEnergy Facilities Services Group, LLC, FirstEnergy Fiber Holdings Corp., GPU Power, Inc., GPU Nuclear, Inc., MARBEL Energy Corporation and FirstEnergy Service Company (FESC). FirstEnergy operates in three segments: Regulated Distribution, Regulated Independent Transmission and Competitive Energy Services. On February 25, 2011, AE merged with a subsidiary of FirstEnergy, with AE continuing as the surviving corporation and becoming a wholly owned subsidiary of FirstEnergy. On July 28, 2011, FirstEnergy completed the sale of the Fremont Energy Center to American Municipal Power, Inc. On October 18, 2011, FirstEnergy sold its Richland (432 mega-watts) and Stryker (18 mega-watts) Peaking Facilities. On October 18, 2011, FirstEnergy announced that Gunvor Group, Ltd. purchased a 33% in Global Holding, a joint venture, which owns the Signal Peak coal mine in Montana and the related Global Rail coal transportation operations.
As of December 31, 2011, the Regulated Distribution segment distributed electricity through FirstEnergy's 10 utility distribution companies, serving approximately six million customers within 67,000 square miles of Ohio, Pennsylvania, West Virginia, Maryland, New Jersey and New York, and purchases power for its Provider of Last Resort (POLR), Standard Offer Service (SOS) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland. This segment also includes the transmission operations of JCP&L, Met-Ed, Penelec, WP, MP and PE and the regulated electric generation facilities in West Virginia and New Jersey, which MP and JCP&L, respectively, own or contractually control. The Regulated Distribution segment's revenues are derived from the delivery of electricity within FirstEnergy's service areas, cost recovery of regulatory assets and the sale of electric generation service to retail customers who have not selected an alternative supplier (POLR, SOS or default service) in its Maryland, New Jersey, Ohio and Pennsylvania franchise areas.
The Regulated Independent Transmission segment transmits electricity through transmission lines and its revenues are derived from a formulaic rate, which recovers costs and a return on investment for capital expenditures in connection with TrAIL, PATH and other projects, revenues from providing transmission services to electric energy providers and power marketers, and revenues from operating a portion of the FirstEnergy transmission system. The Competitive Energy Services segment supplies, through FES and AE Supply, electric power to end-use customers through retail and wholesale arrangements, including retail sales to customers in Ohio, Pennsylvania, Illinois, Michigan, New Jersey and Maryland and the provision of partial POLR and default service for some utilities in Ohio and Pennsylvania. FES purchases the output of the 18 generating facilities, which it owns and operates through its FGCO subsidiary (fossil and hydroelectric generating facilities) and owns, through its NGC subsidiary, FirstEnergy's nuclear generating facilities. FENOC, a separate subsidiary of FirstEnergy, operates and maintains NGC's nuclear generating facilities, as well as the output relating to leasehold interests of OE and TE in certain of those facilities. AE Supply together with its consolidated subsidiary, AGC owns, operates and controls the electric generation capacity of 18 facilities. AGC owns and sells generation capacity to AE Supply and MP, which own approximately 59% and 41% of AGC, respectively. AGC's sole asset is a 40% undivided interest in the Bath County, Virginia pumped-storage hydroelectric generation facility and its connecting transmission facilities. All of AGC's revenues are derived from sales of its 1,109 mega-watts generation capacity from the Bath County generation facility to AE Supply and MP.
Competitive Energy Services segment controls approximately 17,000 mega-watts of capacity and also purchases electricity to meet sales obligations. The segment's revenue is derived from electric generation sales less the related costs of electricity generation, including purchased power and net transmission (including congestion) and ancillary costs charged by PJM Interconnection L. L. C. (PJM) and Midwest Independent Transmission System Operator, Inc. (MISO) to deliver energy to the segment's customers.
FirstEnergy’s revenues are derived from electric service provided by its utility operating subsidiaries (OE, CEI, TE, Penn, ATSI, JCP&L, Met-Ed, Penelec, MP, PE, WP and TrAIL) and the sale of energy and related products and services by its unregulated competitive subsidiaries, FES and AE Supply. The Utilities’ combined service areas encompass approximately 65,000 square miles in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey and New York. Penn owns property and does business as an electric public utility in Pennsylvania. Penn is also authorized to do business in the State of Ohio. Penn furnishes electric service to communities in 1,100 square miles of western Pennsylvania. CEI does business as an electric public utility in Ohio. CEI engages in the distribution and sale of electric energy in an area of 1,600 square miles in northeastern Ohio. TE does business as an electric public utility in Ohio. TE engages in the distribution and sale of electric energy in an area of 2,300 square miles in northwestern Ohio. ATSI owns transmission facilities, which consist of approximately 5,800 pole miles of transmission lines with voltages of 345 kilo-volt, 138 kilo-volt and 69 kilo-volt. JCP&L owns property and does business as an electric public utility in New Jersey. JCP&L provides transmission and distribution services in 3,200 square miles of northern, western and east central New Jersey. Met-Ed owns property and does business as an electric public utility in Pennsylvania. Met-Ed provides transmission and distribution services in 3,300 square miles of eastern and south central Pennsylvania. Penelec owns property and does business as an electric public utility in Pennsylvania. Penelec provides transmission and distribution services in 17,600 square miles of western, northern and south central Pennsylvania. Penelec, as lessee of the property of its subsidiary, The Waverly Electric Light & Power Company, also serves customers in the Waverly, New York.
PE owns property and does business as an electric public utility in Virginia and the States of West Virginia and Maryland. PE provides transmission and/or distribution services in 5,500 square miles area in portions of Maryland, Virginia and West Virginia. MP owns property and does business as an electric public utility in the state of West Virginia. MP provides transmission and distribution services in 13,000 square miles of northern West Virginia.. As of December 31, 2011, MP owned or contractually controlled 2,737 mega-watts of generation capacity, which is supplied to its electric utility business. In addition, MP provides PE with the power, which it needs to meet its load obligations in West Virginia. WP owns property and does business as an electric public utility in Pennsylvania. WP provides transmission and distribution services in 10,400 square miles of southwestern, south-central and northern Pennsylvania. On May 19, 2011, TrAIL completed the construction and energized the transmission line. The transmission line extends approximately 150 miles from southwestern Pennsylvania through West Virginia to a point of interconnection with Virginia Electric and Power Company, a subsidiary of Dominion Resources, in northern Virginia. FES provides energy-related products and services to wholesale and retail customers. FES also owns and operates, through its subsidiary, FGCO, fossil and hydroelectric generating facilities and owns, through its subsidiary, NGC, FirstEnergy’s nuclear generating facilities. FENOC, a subsidiary of FirstEnergy operates and maintains NGC’s nuclear generating facilities. FES purchases the entire output of the generation facilities owned by FGCO and NGC, as well as the output relating to leasehold interests of OE and TE. AE Supply provides energy-related products and services to wholesale and retail customers. AE Supply also owns and operates fossil and hydroelectric generating facilities and purchases and sells energy and energy-related commodities. AGC is owned approximately 59% by AE Supply and approximately 41% by MP. AGC’s sole asset is a 40% undivided interest in the Bath County, Virginia pumped-storage hydroelectric generation facility and its connecting transmission facilities. AGC provides the generation capacity from this facility to AE Supply and MP.
76 South Main Street
AKRON OH 44308-1890
Company Web Links
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