FirstEnergy Corp. Makes Significant Progress in Power Restoration
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy FE?
Source: PRnewswire
- Restoration Status: FirstEnergy has restored power to over 97% of the nearly 1.1 million customers affected by the recent storms, with approximately 35,400 still without service, demonstrating the company's resilience in disaster recovery.
- Ongoing Restoration Efforts: A contingent of more than 10,000 FirstEnergy employees, contractors, and external resources are engaged in around-the-clock restoration efforts, ensuring that all customers receive power service as quickly as possible, reflecting the company's commitment to customer service.
- Estimated Restoration Times: Estimated restoration times (ETRs) have been established for most outages, which customers can view on the company website or through individual accounts, ensuring timely updates and enhancing customer trust in the recovery process.
- New Outages: New outages have occurred due to a subsequent round of storms and thunderstorms, particularly impacting eastern Pennsylvania and northern New Jersey, highlighting the ongoing challenges posed by weather conditions on power supply.
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Analyst Views on FE
Wall Street analysts forecast FE stock price to fall
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 51.760
Low
46.00
Averages
49.25
High
54.00
Current: 51.760
Low
46.00
Averages
49.25
High
54.00
About FE
FirstEnergy Corp. and its subsidiaries are involved in the transmission, distribution, and generation of electricity through its segments: Distribution, Integrated and Stand-Alone Transmission. The Distribution Segment, which consists of the Ohio Companies and FirstEnergy Pennsylvania Electric Company (FE PA), distributes electricity in Ohio and Pennsylvania. The Integrated segment includes the distribution and transmission operations under Jersey Central Power & Light Company (JCP&L), Monongahela Power Company (MP) and The Potomac Edison Company (PE), as well as MP's regulated generation operations. The segment distributes electricity in New Jersey, West Virginia and Maryland, provides transmission infrastructure, and operates 3,604 MWs of regulated net maximum generation capacity. The Stand-Alone Transmission segment consists of its ownership in FET and KATCo, which includes transmission infrastructure owned and operated by the Transmission Companies and used to transmit electricity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
FirstEnergy Corp. Makes Significant Progress in Power Restoration
- Restoration Status: FirstEnergy has restored power to over 97% of the nearly 1.1 million customers affected by the recent storms, with approximately 35,400 still without service, demonstrating the company's resilience in disaster recovery.
- Ongoing Restoration Efforts: A contingent of more than 10,000 FirstEnergy employees, contractors, and external resources are engaged in around-the-clock restoration efforts, ensuring that all customers receive power service as quickly as possible, reflecting the company's commitment to customer service.
- Estimated Restoration Times: Estimated restoration times (ETRs) have been established for most outages, which customers can view on the company website or through individual accounts, ensuring timely updates and enhancing customer trust in the recovery process.
- New Outages: New outages have occurred due to a subsequent round of storms and thunderstorms, particularly impacting eastern Pennsylvania and northern New Jersey, highlighting the ongoing challenges posed by weather conditions on power supply.
See More
FirstEnergy Power Restoration Progress Amid Severe Weather
- Restoration Progress: FirstEnergy has restored power to 92% of the 668,000 affected customers, with approximately 56,000 still without service in the hardest-hit areas of central and northeast Ohio and western Pennsylvania, demonstrating the company's resilience in managing severe weather impacts.
- Employee Mobilization: Over 6,900 FirstEnergy employees, contractors, and external resources are engaged in restoration efforts, and with additional crews being deployed, the pace of recovery in the hardest-hit areas is expected to accelerate, reflecting the company's commitment to customer service.
- Estimated Restoration Times: Estimated restoration times (ETRs) have been established for all areas, with many customers potentially restored sooner, showcasing the company's efficiency in addressing customer needs and assessing damage.
- Customer Support Channels: Customers can report outages by calling 1-888-LIGHTSS or online, indicating the company's provision of multiple channels to ensure timely information and support during the crisis.
See More
FirstEnergy Corp. Power Restoration Progress After Windstorm
- Restoration Status: FirstEnergy has restored power to 92% of the 668,000 affected customers, with 56,000 still waiting for service, primarily in central and northeast Ohio and western Pennsylvania, demonstrating the company's recovery capabilities in response to natural disasters.
- Resource Allocation: Over 6,900 FirstEnergy employees, contractors, and external resources are engaged in restoration efforts, and with additional crews being deployed, the pace of recovery in the hardest-hit areas is expected to accelerate, ensuring customer service is restored as quickly as possible.
- Estimated Restoration Times: Each utility has set estimated restoration times (ETRs), with The Illuminating Company and Ohio Edison expecting to restore most customers by 11 p.m. tonight, which not only enhances customer satisfaction but also strengthens the company's reputation in crisis management.
- Customer Support Channels: Customers can report outages by calling 1-888-LIGHTSS or online, reflecting the company's commitment to customer service and aiming to improve customer experience while minimizing dissatisfaction during outages.
See More
FirstEnergy Corp. Continues Power Restoration Efforts
- Restoration Progress: FirstEnergy has restored power to 92% of the 668,000 affected customers, demonstrating rapid response capabilities post-storm, although 56,000 customers remain without service primarily in central and northeast Ohio and western Pennsylvania.
- Ongoing Challenges: Another storm system is expected tonight and tomorrow, potentially causing additional outages, prompting FirstEnergy to prioritize restoration efforts from Friday's storm to ensure affected customers regain power as quickly as possible.
- Resource Allocation: Over 6,900 FirstEnergy employees, contractors, and external resources are actively supporting restoration efforts, with additional crews being deployed to the hardest-hit areas, showcasing the company's adaptability in crisis situations.
- Customer Communication Channels: The company offers multiple ways for customers to report outages, including a hotline, text messaging, and online reporting, ensuring timely information and support for customers, which enhances service transparency and responsiveness.
See More
FirstEnergy Corp Restores Power to Customers After Severe Storm
- Restoration Progress: Following winds exceeding 70 mph, FirstEnergy Corp has restored power to nearly 478,000 customers, with approximately 177,400 still awaiting service, demonstrating the company's rapid response capability in disaster situations.
- Personnel Deployment: Over 3,400 external contractors and support personnel are working alongside nearly 3,380 FirstEnergy employees around the clock to restore power, reflecting the company's resource integration ability in crisis management.
- Damage Assessment: The service areas in Ohio and western Pennsylvania were severely impacted with widespread tree and equipment damage; despite challenges in restoration efforts, the company is committed to accelerating repairs under safe conditions, highlighting its dedication to customer service.
- Safety Reminders: The company advises customers to remain safe during the restoration process, particularly when dealing with downed power lines, emphasizing its responsibility for public safety and further enhancing trust within the community.
See More
FirstEnergy Corp. Power Restoration Progress After Storm
- Restoration Progress: Following winds exceeding 70 mph, FirstEnergy Corp. has restored power to nearly 478,000 customers, representing approximately 73% of those who lost service during the storm.
- Ongoing Repair Efforts: The company has mobilized over 3,400 workers, including outside contractors, to assist in restoration efforts, with work expected to continue over the next few days despite ongoing windy conditions in some areas.
- Customer Service Updates: As of 1 p.m. today, restoration rates vary by region, with the Illuminating Company in Ohio restoring 69% of service while Penn Power in western Pennsylvania has only restored 56% of its impacted customers.
- Safety Reminders: FirstEnergy urges customers to stay safe during the restoration process, particularly by maintaining at least 30 feet distance from downed power lines and promptly reporting any outages.
See More
FirstEnergy Corp. Makes Significant Progress in Power Restoration
- Restoration Status: FirstEnergy has restored power to over 97% of the nearly 1.1 million customers affected by the recent storms, with approximately 35,400 still without service, demonstrating the company's resilience in disaster recovery.
- Ongoing Restoration Efforts: A contingent of more than 10,000 FirstEnergy employees, contractors, and external resources are engaged in around-the-clock restoration efforts, ensuring that all customers receive power service as quickly as possible, reflecting the company's commitment to customer service.
- Estimated Restoration Times: Estimated restoration times (ETRs) have been established for most outages, which customers can view on the company website or through individual accounts, ensuring timely updates and enhancing customer trust in the recovery process.
- New Outages: New outages have occurred due to a subsequent round of storms and thunderstorms, particularly impacting eastern Pennsylvania and northern New Jersey, highlighting the ongoing challenges posed by weather conditions on power supply.
See More
FirstEnergy Power Restoration Progress Amid Severe Weather
- Restoration Progress: FirstEnergy has restored power to 92% of the 668,000 affected customers, with approximately 56,000 still without service in the hardest-hit areas of central and northeast Ohio and western Pennsylvania, demonstrating the company's resilience in managing severe weather impacts.
- Employee Mobilization: Over 6,900 FirstEnergy employees, contractors, and external resources are engaged in restoration efforts, and with additional crews being deployed, the pace of recovery in the hardest-hit areas is expected to accelerate, reflecting the company's commitment to customer service.
- Estimated Restoration Times: Estimated restoration times (ETRs) have been established for all areas, with many customers potentially restored sooner, showcasing the company's efficiency in addressing customer needs and assessing damage.
- Customer Support Channels: Customers can report outages by calling 1-888-LIGHTSS or online, indicating the company's provision of multiple channels to ensure timely information and support during the crisis.
See More
FirstEnergy Corp. Power Restoration Progress After Windstorm
- Restoration Status: FirstEnergy has restored power to 92% of the 668,000 affected customers, with 56,000 still waiting for service, primarily in central and northeast Ohio and western Pennsylvania, demonstrating the company's recovery capabilities in response to natural disasters.
- Resource Allocation: Over 6,900 FirstEnergy employees, contractors, and external resources are engaged in restoration efforts, and with additional crews being deployed, the pace of recovery in the hardest-hit areas is expected to accelerate, ensuring customer service is restored as quickly as possible.
- Estimated Restoration Times: Each utility has set estimated restoration times (ETRs), with The Illuminating Company and Ohio Edison expecting to restore most customers by 11 p.m. tonight, which not only enhances customer satisfaction but also strengthens the company's reputation in crisis management.
- Customer Support Channels: Customers can report outages by calling 1-888-LIGHTSS or online, reflecting the company's commitment to customer service and aiming to improve customer experience while minimizing dissatisfaction during outages.
See More
FirstEnergy Corp. Continues Power Restoration Efforts
- Restoration Progress: FirstEnergy has restored power to 92% of the 668,000 affected customers, demonstrating rapid response capabilities post-storm, although 56,000 customers remain without service primarily in central and northeast Ohio and western Pennsylvania.
- Ongoing Challenges: Another storm system is expected tonight and tomorrow, potentially causing additional outages, prompting FirstEnergy to prioritize restoration efforts from Friday's storm to ensure affected customers regain power as quickly as possible.
- Resource Allocation: Over 6,900 FirstEnergy employees, contractors, and external resources are actively supporting restoration efforts, with additional crews being deployed to the hardest-hit areas, showcasing the company's adaptability in crisis situations.
- Customer Communication Channels: The company offers multiple ways for customers to report outages, including a hotline, text messaging, and online reporting, ensuring timely information and support for customers, which enhances service transparency and responsiveness.
See More
FirstEnergy Corp Restores Power to Customers After Severe Storm
- Restoration Progress: Following winds exceeding 70 mph, FirstEnergy Corp has restored power to nearly 478,000 customers, with approximately 177,400 still awaiting service, demonstrating the company's rapid response capability in disaster situations.
- Personnel Deployment: Over 3,400 external contractors and support personnel are working alongside nearly 3,380 FirstEnergy employees around the clock to restore power, reflecting the company's resource integration ability in crisis management.
- Damage Assessment: The service areas in Ohio and western Pennsylvania were severely impacted with widespread tree and equipment damage; despite challenges in restoration efforts, the company is committed to accelerating repairs under safe conditions, highlighting its dedication to customer service.
- Safety Reminders: The company advises customers to remain safe during the restoration process, particularly when dealing with downed power lines, emphasizing its responsibility for public safety and further enhancing trust within the community.
See More
FirstEnergy Corp. Power Restoration Progress After Storm
- Restoration Progress: Following winds exceeding 70 mph, FirstEnergy Corp. has restored power to nearly 478,000 customers, representing approximately 73% of those who lost service during the storm.
- Ongoing Repair Efforts: The company has mobilized over 3,400 workers, including outside contractors, to assist in restoration efforts, with work expected to continue over the next few days despite ongoing windy conditions in some areas.
- Customer Service Updates: As of 1 p.m. today, restoration rates vary by region, with the Illuminating Company in Ohio restoring 69% of service while Penn Power in western Pennsylvania has only restored 56% of its impacted customers.
- Safety Reminders: FirstEnergy urges customers to stay safe during the restoration process, particularly by maintaining at least 30 feet distance from downed power lines and promptly reporting any outages.
See More
