FirstEnergy

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FirstEnergy Corp.

logo
legal form Corporation ( public company )
ISIN US3379321074
founding 1997
Seat Akron , United States
management Charles Jones
Number of employees 15,707
sales $ 14.56 billion
Branch Energy supplier
Website www.firstenergycorp.com
As of December 31, 2016

FirstEnergy is a US utility company headquartered in Akron , Ohio . The company is listed in the S&P 500 and Dow Jones Composite Average . It has approximately 4.4 million customers and operates in the states of Ohio, Pennsylvania and New Jersey .

subsidiary company

The company includes subsidiaries Ohio Edison , The Illuminating Company , Toledo Edison , Penn Power , Penelec , Met-Ed and Jersey Central Power & Light . First Energy operates the Beaver Valley, Davis-Besse and Perry nuclear power plants through its subsidiary Energy Harbor Corp.

history

FirstEnergy was formed through the merger of Ohio Edison and Centerior Energy (created in 1997 from the merger of the Cleveland Electric Illuminating Company and Toledo Edison). In 2001, FirstEnergy acquired GPU, Inc. It previously owned Jersey Central Power and Light, Pennsylvania Electric Company, and Metropolitan Edison. Since the latter company was the owner of the damaged nuclear power plant during the reactor accident at the Three Mile Island nuclear power plant, ownership of Three Mile Island 2 was also transferred to FirstEnergy with the takeover of GPU .

Atomic energy

FirstEnergy operates the Perry and Davis Besse nuclear power plants in Ohio and Beaver Valley 1 and 2 in Pennsylvania . The company is financially troubled because the plants are unprofitable due to an oversupply of cheap electricity from shale gas production . FirstEnergy solicited public subsidies in both states to restore the competitiveness of the plants. Since the company's campaigns were initially unsuccessful (as of February 2018), the plants were threatened with premature shutdown. In July 2019, however, Ohio passed House Bill 6, which burdened electricity customers with subsidies for the Perry and Davis Besse nuclear power plants. In July 2020, Ohio House Speaker Larry Householder and others were arrested. They are charged with taking a $ 60 million bribe to get House Bill 6 through Parliament. This should mean the end of nuclear power in Ohio.

In March 2018, the operator announced to the US atomic authority Template: future / in 5 yearsthat it would shut down all of its nuclear power plants in 2020 and 2021, which would mean the operator's de facto exit from the nuclear energy business. On April 25, 2018, FirstEnergy sent the nuclear regulatory authority the decommissioning dates for the reactors, according to which the first Davis Besse reactor should go offline on May 31, 2020 [obsolete] and Beaver Valley 2 as the last block on October 31, 2021.

Web links

Individual evidence

  1. a b 2016 Form 10-K Report , at www.investors.firstenergycorp.com , accessed April 8, 2017
  2. https://www.nrc.gov/info-finder/reactors/davi.html
  3. https://www.forbes.com/sites/nicholasreimann/2020/07/21/ohio-speaker-of-the-house-arrested-in-states-largest-bribery-scheme-ever/#52c41fb937b4
  4. Davis-Besse Nuclear Power Station to close in 2020 . In: The Morning Journal News , March 28, 2018. Retrieved March 29, 2018.
  5. First Energy Solutions definitely to close its nuclear power plants . In Cleveland.com , April 25, 2018. Accessed April 25, 2018th