FirstEnergy

FirstEnergy Corp. stands as one of the largest investor-owned electric systems in the United States, serving approximately 6 million customers across a vast 65,000-square-mile area spanning Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. Headquartered in Akron, Ohio, the company operates through ten regulated electric distribution companies and maintains over 269,000 miles of distribution lines, making it a critical infrastructure provider in the Midwest and Mid-Atlantic regions. Since its formation in 1997, FirstEnergy has evolved from a regional utility into a major national player in the electric power industry, with a current market capitalization of $26.6 billion and annual revenue of $13.5 billion as of 2024.

The company has undergone significant transformation over the past two decades, strategically shifting from a mixed generation and distribution model to focus exclusively on regulated transmission and distribution operations. This strategic pivot, completed in 2020, positioned FirstEnergy to capitalize on the growing need for grid modernization and reliability improvements. The company's ten operating subsidiaries—Ohio Edison, The Illuminating Company, Toledo Edison, Met-Ed, Penelec, Penn Power, West Penn Power, Jersey Central Power & Light, Mon Power, and Potomac Edison—serve diverse communities ranging from major metropolitan areas like Cleveland and Akron to rural regions across Appalachia.

FirstEnergy's flagship Energize365 program represents the company's commitment to building a smarter, more resilient grid for the 21st century. With planned investments of $28 billion between 2025 and 2029, this multi-year initiative focuses on upgrading power lines, incorporating smart grid technology, and enhancing substation security. In 2024 alone, FirstEnergy invested $4.5 billion in these improvements, a 20% increase over the previous year, demonstrating the company's dedication to meeting growing energy demands while improving service reliability. The program targets a 9% rate base growth and aims to support FirstEnergy's goal of achieving carbon neutrality by 2050.

Throughout its history, FirstEnergy has faced both significant challenges and opportunities. The company played a central role in the 2003 Northeast Blackout, which affected 55 million people, leading to major improvements in grid monitoring and reliability standards industry-wide. More recently, the company has worked to rebuild trust following a 2020 bribery scandal that resulted in leadership changes and a $230 million fine. Under new leadership, including President and CEO Brian X. Tierney, FirstEnergy has implemented comprehensive governance reforms and refocused on operational excellence, transparency, and stakeholder value creation.

Today, FirstEnergy employs over 12,000 people and is recognized for its commitment to safety, diversity, and employee development. The company's forward-looking strategy emphasizes not only infrastructure investment but also environmental stewardship, with initiatives to reduce carbon emissions and support the transition to cleaner energy sources. As communities across its service territory face increasing energy demands from data centers, electric vehicles, and industrial growth, FirstEnergy is positioning itself as a reliable partner in powering the region's economic future while maintaining affordability and environmental responsibility.