New Natural Gas Plant to Enhance Power Supply
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 13 2026
0mins
Should l Buy FE?
Source: PRnewswire
- New Plant Construction: Mon Power and Potomac Edison plan to build a 1,200-megawatt natural gas plant in Maidsville, West Virginia, expected to power approximately 500,000 homes, thereby enhancing the region's energy supply and ensuring reliable and affordable electricity.
- Project Timeline: If approved by the West Virginia Public Service Commission, construction is anticipated to begin in 2027, with the plant expected to come online by late 2031, reflecting the companies' proactive planning for future electricity demand growth.
- Solar Resource Expansion: The companies are also seeking approval for 70 megawatts of new solar generation on former industrial and reclaimed mine lands, which will complement their existing 30-megawatt solar portfolio, supporting clean energy development and creating construction jobs.
- Customer Service Commitment: Mon Power and Potomac Edison currently serve approximately 395,000 and 285,000 customers, respectively, and the new power projects will further enhance their service capabilities in West Virginia, ensuring they meet the rapidly growing electricity needs.
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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: 50.960
Low
46.00
Averages
49.25
High
54.00
Current: 50.960
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 to Release Q1 2026 Financial Results on April 28
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- Investor Participation Opportunity: Investors, customers, and other interested parties are invited to listen to the live webcast of the call and view presentation slides on FirstEnergy's Investor Information website, highlighting the company's focus on stakeholder engagement.
- Information Replay Availability: The conference call and presentation will be available for replay on the website for up to one year, ensuring that all stakeholders can access key information at their convenience, enhancing information accessibility.
- Company Operational Overview: FirstEnergy, one of the largest investor-owned electric systems in the U.S., serves over 6 million customers and operates approximately 24,000 miles of transmission lines, showcasing its strong capabilities in power distribution and transmission.
See More
Maryland PSC Reviews Project to Enhance Grid Reliability
- Project Background: Potomac Edison is seeking approval from the Maryland Public Service Commission to advance the Gore-Doubs-Goose Creek Improvements Project, which will upgrade 18 miles of transmission lines to enhance grid reliability and support future economic growth.
- Minimizing Environmental Impact: The project utilizes existing power line corridors to minimize effects on the environment and nearby communities, ensuring that residents and businesses in Frederick and Montgomery counties receive more reliable power supply.
- Construction Timeline: If approved, construction is expected to begin in 2028 and be completed by 2031, with applications for the Virginia and West Virginia portions anticipated to be filed later this year.
- Enhancing Grid Reliability: The project will add approximately 62 miles of transmission lines, including new 500-kV lines, aimed at improving electricity transmission efficiency to meet increasing demand, especially during extreme weather conditions.
See More
Maryland PSC Reviews Project to Enhance Grid Reliability
- Project Background: Potomac Edison is seeking approval from the Maryland Public Service Commission to advance the Gore-Doubs-Goose Creek Improvements Project, which will upgrade 18 miles of transmission lines to enhance grid reliability and support future economic growth.
- Minimizing Environmental Impact: The project will utilize existing power line corridors to minimize effects on the environment and nearby communities, ensuring enhanced stability of regional power supply while meeting safety, reliability, and fair cost requirements.
- Construction Timeline: If approved, construction is expected to begin in 2028 and be completed by 2031, marking a significant step in providing more reliable power services to approximately 285,000 customers in Maryland.
- Regional Grid Support: Awarded by PJM in 2023, the project involves upgrading approximately 62 miles of transmission lines across Maryland, Virginia, and West Virginia, with the addition of new 500-kV lines significantly increasing electricity transmission capacity during peak demand periods.
See More
Bill Assistance Programs Available for West Virginia Customers
- Bill Assistance Programs: Mon Power and Potomac Edison are offering various bill assistance programs aimed at helping West Virginia households manage the financial strain of high winter electricity costs, ensuring customer comfort as spring approaches.
- Emergency Hardship Fund: The Dollar Energy Fund (DEF) serves as an emergency hardship fund designed to assist customers in maintaining or restoring utility services, thereby preventing disconnections during financial difficulties.
- Service Termination Prevention: The Emergency Assistance Program (EAP) provides a one-time payment to help customers avoid service termination, alleviating financial burdens on families during challenging times.
- 24/7 Information Helpline: The 2-1-1 helpline operates 24/7, assisting customers in identifying locally available utility bill assistance programs, ensuring they receive the necessary support and resources.
See More
Bill Assistance Programs Launched in West Virginia
- Bill Assistance Programs: Mon Power and Potomac Edison are offering various bill assistance programs aimed at helping approximately 395,000 households in West Virginia manage the financial strain of high winter electricity costs, ensuring comfort as spring approaches.
- Customer Service Commitment: Jim Myers, President of FirstEnergy West Virginia and Maryland, emphasizes that families facing high bills can seek assistance, and reaching out early can unlock more support, reflecting the company's dedication to customer care and responsibility.
- Wide Coverage: Mon Power serves about 395,000 customers across 34 West Virginia counties, while Potomac Edison provides services to approximately 285,000 customers in seven Maryland counties and 155,000 in West Virginia's Eastern Panhandle, highlighting the company's significance in the regional electricity market.
- Company Background: FirstEnergy operates 10 electric distribution companies, forming one of the nation's largest investor-owned electric systems, with transmission subsidiaries managing around 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, ensuring reliability and safety in power supply.
See More
Potomac Edison Launches Bill Assistance Programs for Maryland Customers
- Bill Assistance Programs: Potomac Edison encourages Maryland households to utilize various bill assistance programs to manage increased electricity usage due to temperature fluctuations, thereby alleviating pressure on family budgets.
- Customer Coverage: Potomac Edison serves approximately 285,000 customers in Maryland and 155,000 customers in the Eastern Panhandle of West Virginia, demonstrating its extensive reach in the region.
- Company Commitment: FirstEnergy President Jim Myers emphasizes the company's dedication to helping customers find available resources and support, ensuring they do not feel overwhelmed by their energy bills.
- Access Resources: Customers can visit firstenergycorp.com/billassist to learn more about available assistance and payment programs, ensuring they receive the necessary support in a timely manner.
See More
FirstEnergy to Release Q1 2026 Financial Results on April 28
- Earnings Release Schedule: FirstEnergy will announce its Q1 2026 financial results after market close on April 28, followed by a conference call with analysts on April 29 at 9 a.m., demonstrating the company's commitment to financial transparency.
- Investor Participation Opportunity: Investors, customers, and other interested parties are invited to listen to the live webcast of the call and view presentation slides on FirstEnergy's Investor Information website, highlighting the company's focus on stakeholder engagement.
- Information Replay Availability: The conference call and presentation will be available for replay on the website for up to one year, ensuring that all stakeholders can access key information at their convenience, enhancing information accessibility.
- Company Operational Overview: FirstEnergy, one of the largest investor-owned electric systems in the U.S., serves over 6 million customers and operates approximately 24,000 miles of transmission lines, showcasing its strong capabilities in power distribution and transmission.
See More
Maryland PSC Reviews Project to Enhance Grid Reliability
- Project Background: Potomac Edison is seeking approval from the Maryland Public Service Commission to advance the Gore-Doubs-Goose Creek Improvements Project, which will upgrade 18 miles of transmission lines to enhance grid reliability and support future economic growth.
- Minimizing Environmental Impact: The project utilizes existing power line corridors to minimize effects on the environment and nearby communities, ensuring that residents and businesses in Frederick and Montgomery counties receive more reliable power supply.
- Construction Timeline: If approved, construction is expected to begin in 2028 and be completed by 2031, with applications for the Virginia and West Virginia portions anticipated to be filed later this year.
- Enhancing Grid Reliability: The project will add approximately 62 miles of transmission lines, including new 500-kV lines, aimed at improving electricity transmission efficiency to meet increasing demand, especially during extreme weather conditions.
See More
Maryland PSC Reviews Project to Enhance Grid Reliability
- Project Background: Potomac Edison is seeking approval from the Maryland Public Service Commission to advance the Gore-Doubs-Goose Creek Improvements Project, which will upgrade 18 miles of transmission lines to enhance grid reliability and support future economic growth.
- Minimizing Environmental Impact: The project will utilize existing power line corridors to minimize effects on the environment and nearby communities, ensuring enhanced stability of regional power supply while meeting safety, reliability, and fair cost requirements.
- Construction Timeline: If approved, construction is expected to begin in 2028 and be completed by 2031, marking a significant step in providing more reliable power services to approximately 285,000 customers in Maryland.
- Regional Grid Support: Awarded by PJM in 2023, the project involves upgrading approximately 62 miles of transmission lines across Maryland, Virginia, and West Virginia, with the addition of new 500-kV lines significantly increasing electricity transmission capacity during peak demand periods.
See More
Bill Assistance Programs Available for West Virginia Customers
- Bill Assistance Programs: Mon Power and Potomac Edison are offering various bill assistance programs aimed at helping West Virginia households manage the financial strain of high winter electricity costs, ensuring customer comfort as spring approaches.
- Emergency Hardship Fund: The Dollar Energy Fund (DEF) serves as an emergency hardship fund designed to assist customers in maintaining or restoring utility services, thereby preventing disconnections during financial difficulties.
- Service Termination Prevention: The Emergency Assistance Program (EAP) provides a one-time payment to help customers avoid service termination, alleviating financial burdens on families during challenging times.
- 24/7 Information Helpline: The 2-1-1 helpline operates 24/7, assisting customers in identifying locally available utility bill assistance programs, ensuring they receive the necessary support and resources.
See More
Bill Assistance Programs Launched in West Virginia
- Bill Assistance Programs: Mon Power and Potomac Edison are offering various bill assistance programs aimed at helping approximately 395,000 households in West Virginia manage the financial strain of high winter electricity costs, ensuring comfort as spring approaches.
- Customer Service Commitment: Jim Myers, President of FirstEnergy West Virginia and Maryland, emphasizes that families facing high bills can seek assistance, and reaching out early can unlock more support, reflecting the company's dedication to customer care and responsibility.
- Wide Coverage: Mon Power serves about 395,000 customers across 34 West Virginia counties, while Potomac Edison provides services to approximately 285,000 customers in seven Maryland counties and 155,000 in West Virginia's Eastern Panhandle, highlighting the company's significance in the regional electricity market.
- Company Background: FirstEnergy operates 10 electric distribution companies, forming one of the nation's largest investor-owned electric systems, with transmission subsidiaries managing around 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions, ensuring reliability and safety in power supply.
See More
Potomac Edison Launches Bill Assistance Programs for Maryland Customers
- Bill Assistance Programs: Potomac Edison encourages Maryland households to utilize various bill assistance programs to manage increased electricity usage due to temperature fluctuations, thereby alleviating pressure on family budgets.
- Customer Coverage: Potomac Edison serves approximately 285,000 customers in Maryland and 155,000 customers in the Eastern Panhandle of West Virginia, demonstrating its extensive reach in the region.
- Company Commitment: FirstEnergy President Jim Myers emphasizes the company's dedication to helping customers find available resources and support, ensuring they do not feel overwhelmed by their energy bills.
- Access Resources: Customers can visit firstenergycorp.com/billassist to learn more about available assistance and payment programs, ensuring they receive the necessary support in a timely manner.
See More
