Summary
FirstEnergy, based in Akron, Ohio, is a major electric company with 10 regulated subsidiaries. The company focuses on transmission and distribution, but has been selling parts of its transmission business. Serving over 6 million customers, including 2.3 million in Ohio, 1.8 million in Pennsylvania, and 2 million in WV, MD, and NJ, FirstEnergy’s 2024 revenues were $13.5 billion, with distribution operations contributing 50% and integrated utilities contributing 36%.
FirstEnergy faces challenges compared to its competitors due to its heavy reliance on coal generation. In 2024, 3,200 MW of its generating capacity came from coal-fired plants, with the rest from hydro and solar sources. The company phased out its nuclear operations five years ago and has committed to reducing greenhouse gas emissions by 30% from its 2019 baseline by 2030.
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