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 The FirstEnergy Building, the company’s headquarters in Akron, Ohio | |
| Company type | Public |
|---|---|
| Industry | Electric Utility |
| Founded | November 7, 1997 |
| Headquarters | Akron, Ohio, U.S. |
Area served | 6 million customers within 65,000 square miles (170,000 km2) of Ohio, Pennsylvania, West Virginia, Maryland, and New Jersey (as of June, 2012) |
Key people | Brian X. Tierney, CEO [1] |
| Products | Electricity generation, transmission and distribution, energy management, other energy-related services |
| Revenue |  US$12.90 billion (2023)[2] |
| 2.162 billion (2020)[2] | |
| 1.123 billion (2023)[2] | |
| Total assets | US$44.464 billion (2020)[2] |
| Total equity | $7.237 billion (2020) [2] |
Number of employees | 12,153 (2020)[2] |
| Divisions | GPU Inc. Allegheny Energy |
| Website | firstenergycorp |
FirstEnergy Corp. is a privately owned electric utility headquartered in Akron, Ohio. It was established when Ohio Edison merged with Centerior Energy in 1997. Its subsidiaries and affiliates are involved in the distribution, transmission, and generation of electricity, as well as energy management and other energy-related services. Its ten electric utility operating companies comprise one of the United States' largest investor-owned utilities, based on serving 6 million customers within a 65,000-square-mile (170,000 km2) area of Ohio, Pennsylvania, West Virginia, Virginia, Maryland, New Jersey, and New York.[3] Its generation subsidiaries control more than 16,000 megawatts of capacity, and its distribution lines span over 194,000 miles. In 2018, FirstEnergy ranked 219 on the Fortune 500 list of the largest public corporations in the United States by revenue.[4]
In November 2016, FirstEnergy made the decision to exit the competitive power business and thus become a fully regulated company.
On July 21, 2020, Speaker of the Ohio House of Representatives, Larry Householder, former Ohio Republican Party Chairman Matt Borges, and three others were accused of accepting $60 million in bribes from FirstEnergy in exchange for $1.3 billion worth of benefits in the form of Ohio House Bill 6,[5] as part of what became known as the Ohio nuclear bribery scandal. The stock price of the company plummeted within hours of the arrests being made. On July 22, 2021, the U.S. Attorney for the Southern District of Ohio announced that FirstEnergy would be fined $230 million for their part in the scandal. This was the largest criminal fine ever collected by the Southern District.[6]
- ^ "FirstEnergy Announces Leadership Transition". September 16, 2022.
- ^ a b c d e f "2020 10-K/A". sec.gov. February 18, 2021. Retrieved April 20, 2020.
- ^ "FirstEnergy Relies Heavily on Coal for Power Generation - Market Realist". marketrealist.com. December 22, 2015. Retrieved April 12, 2016.
- ^ "FirstEnergy". Fortune. Archived from the original on November 25, 2018. Retrieved November 25, 2018.
- ^ Cite error: The named reference
NPR_1was invoked but never defined (see the help page). - ^ Tino Bovenzi (July 22, 2021). "FirstEnergy criminally charged, fined $230M by DOJ For role in HB6 scandal". Spectrum News 1. Retrieved August 4, 2021.