FirstEnergy's $538 Million Investment Enhances Electric Service for Penelec Customers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 28 2026
0mins
Should l Buy FE?
Source: PRnewswire
- Service Upgrade: FirstEnergy has completed an upgrade in McKean County for Penelec customers, with new underground cables providing more reliable electric service to over 1,000 customers in Bradford and Bradford Township, expected to significantly reduce outages and speed restoration.
- Long-Term Investment: This upgrade is part of FirstEnergy's Long Term Infrastructure Improvement Plan (LTIIP III), which allocates $538 million for enhancing electric system reliability in Penelec's service area, supporting local economic growth.
- Grid Modernization Goals: FirstEnergy plans to invest $28 billion through its Energize365 program between 2025 and 2029, aiming to create a smarter, more secure grid that meets the needs of today's customers and supports sustainable growth.
- Extensive Customer Base: Penelec serves approximately 597,000 customers across 17,600 square miles in northern and central Pennsylvania and western New York, underscoring its significant role and impact in the regional electric market.
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Analyst Views on FE
Wall Street analysts forecast FE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FE is 49.25 USD with a low forecast of 46.00 USD and a high forecast of 54.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 46.990
Low
46.00
Averages
49.25
High
54.00
Current: 46.990
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.
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- Growth Plans Ahead: For 2026, FirstEnergy aims to plant and donate more than 26,000 additional trees, continuing a tree planting initiative that began in 2020, thereby enhancing community greening efforts.
- Enhanced Community Engagement: By partnering with local communities, FirstEnergy not only improves environmental quality but also fosters a sense of involvement among employees and residents, strengthening the relationship between the company and the community.
- Long-term Environmental Strategy: This tree planting initiative contributes to better air quality and ecological health, reflecting FirstEnergy's long-term strategic goals in sustainability and reinforcing its leadership position in the green economy.
See More
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- Financial Support: The program will cover the cost difference of approximately $250,000 between diesel and electric buses, along with expenses for charging equipment and electrical upgrades, significantly reducing the initial investment burden on school systems and accelerating the adoption of electric buses.
- Environmental Impact: This initiative not only helps Maryland public schools comply with the Climate Solutions Now Act but also promotes healthier transportation options, improves community air quality, and provides students with quieter rides, leading to long-term savings for school districts.
- Technological Innovation: Potomac Edison will also explore how electric buses can support grid reliability through vehicle-to-grid (V2G) technology, presenting a promising opportunity that could benefit customers across the service area and enhance the company's strategic position in the renewable energy sector.
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- Technological Innovation: The initiative will test vehicle-to-grid (V2G) technology, allowing electric school buses to feed stored energy back to the grid when not in use, thereby enhancing grid reliability, particularly during emergencies, and improving power stability in the service area.
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See More
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- Investigation Context: This case is central to a $60 million bribery investigation, with prosecutors alleging that then-FirstEnergy CEO Chuck Jones and Senior VP Michael Dowling orchestrated the hefty payout to secure several lucrative regulatory favors from Randazzo.
- Trial Progress: According to the Associated Press, opening statements in the trial are expected to begin Tuesday in Akron, marking a critical phase in the legal scrutiny of FirstEnergy and its executives, which could impact the company's reputation and future operations.
- Corporate Image Rebuilding: Despite the bribery scandal, FirstEnergy recently received an upgraded rating from Wolfe Securities, indicating some progress in rebuilding its credibility; however, the trial's developments may still exert pressure on its stock price and market confidence.
See More
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- Service Upgrade: FirstEnergy has completed an upgrade in McKean County for over 1,000 Bradford customers, with new underground cables that can carry more power, enhancing system reliability and flexibility.
- Outage Risk Reduction: The installation of redundant power lines allows for quick switching to alternative lines during issues, significantly reducing outage risks and bolstering support for local economic growth.
- Long-term Investment Plan: This upgrade is part of FirstEnergy's $538 million Long Term Infrastructure Improvement Plan aimed at modernizing the electric grid to enhance reliability and meet future customer needs.
- Future Development Strategy: FirstEnergy plans to invest $28 billion through the Energize365 program from 2025 to 2029 to build a smarter, more secure grid that meets the demands of today's and tomorrow's customers.
See More
