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Summary

FirstEnergy is an electric company based in Akron, Ohio. It is one of the nation's larger investor-owned electric systems, with 10 regulated subsidiaries. The company has small regulated generating capacity, under 4,000 MW. FE's focus is on transmission and distribution; however, the company has been selling portions of its transmission business. As of the beginning of 2026, about 21% of its rate base was stand-alone transmission. The company serves over 6 million customers, consisting of 2.3 million in Ohio, 1.8 million in Pennsylvania, and 2 million more in West Virginia, Maryland, and New Jersey. About 63% of customers are commercial/industrial.

Consolidated revenues in 2025 topped $15 billion, with Regulated Distribution accounting for 50% and Stand-Alone Transmission accounting for 12%. Integrated utility operations accounted for the remainder. The company converted to reporting core earnings versus operating earnings at year-end 2024, and past results had been restated each quarter.

FirstEnergy focuses on the distribution of electricity and has small generating capacity that is reliant on coal generation. Small generating capacity can make companies susceptible to wholesale price flu