Potomac Edison Rates And FirstEnergy Corporation

Potomac Edison Rates And FirstEnergy Corporation

FirstEnergy, an Mid-Atlantic electric system owned by investors, has 4.5 million customers. Its transmission facilities as well as its generating fleet serve an average of 4.5 millions of customers. FirstEnergy has more than 5,000 megawatts in capacity and is dedicated to providing reliable, clean energy to its customers. The company is committed to reducing waste at source through waste reduction programs, recycling programs and other initiatives. FirstEnergy also offers a variety of pricing options for companies, including fixed and variable pricing.

FirstEnergy’s “Energizing the Future” transmission program has enhanced the reliability and capacity of its system, and FirstEnergy is investing 4.2 billion dollars over the course of 2017 in the program. This includes improvements to its substations and power lines, as well as new smart technology that will improve the reliability and efficiency of the grid the company operates.

In addition to its commitment to safety and efficiency, FirstEnergy is dedicated to making communities more sustainable through its energy conservation and environmental initiatives. It also invests in renewable energy resources like wind, solar and fuel cells and in LED lighting projects.

FirstEnergy is comprised of 10 licensed distribution companies which serve 4.5million customers in a 36100 square mile area. The companies include Allegheny Power, Potomac Edison, Jersey Central Power & Light and Pennsylvania Power Company. However, the company also has subsidiaries that service commercial and residential customers in the mid-Atlantic as well as Northeastern regions. Approximately one-third of its electricity is generated from carbon-free sources, and about 11 percent of its power is generated from nuclear, hydroelectric power plants, and coal-fired power plants.

The company is committed towards the safety and well-being of its employees and customers. It has acknowledged its role in the cover-up of serious safety violations at its Davis-Besse facility and has agreed to take part in the investigation by the government of other companies involved in the scheme. FirstEnergy will also contribute $5 million to Habitat for Humanity, as well as alternative energy research.

FirstEnergy will continue to serve its customers by utilizing the current electric utility companies. The merger is subject to approval by the Maryland Public Service Commission and the Virginia State Corporation Commission. The combined company will still be known as FirstEnergy until approval is granted. John Somerhalder will be the interim CEO during this period. He will be under the supervision of Anthony J. Alexander who is the chief executive and chairman of the combined company.

Steven E. Strah will be the new CEO of the company. He will take on the position of acting CEO from October 2020. The board of directors will be expanded from 11 to 13 members as part of the transition. Additionally, the steering committee for the transition will be comprised of senior executives from both companies.

Following the scandal, several top executives were dismissed. Former CEO Charles E. Jones resigned in October, and the former COO and President Thomas Householder and Chief Engineer Paul Clark died in March. Householder and Clark both pleaded not guilty to a series of allegations, however Borges continues to deny his involvement in the scandal.