News from July 2024
FirstEnergy reports Q2 financials with steady growth despite lower GAAP earnings
By Ohio Energy Reporter | Jul 30, 2024
FirstEnergy Corp. (NYSE: FE) has reported its financial results for the second quarter of 2024, revealing GAAP earnings of $45 million, or $0.08 per share, on revenue of $3.3 billion. This marks a decrease from the second quarter of 2023, which saw GAAP earnings of $235 million, or $0.41 per share, on revenue of $3.0 billion.
Moriah Doherty joins Ohio’s Electric Cooperatives’ Government Affairs team
By Ohio Energy Reporter | Jul 29, 2024
Former Ohio Senate staffer Moriah Doherty has joined Ohio’s Electric Cooperatives’ (OEC) Government Affairs team as the new Program Administrator. In her role, Doherty will manage and promote America’s Electric Cooperatives PAC (formerly ACRE), assist in coordinating legislative and political events, and support the Government Affairs and Economic Development teams.
FirstEnergy extends sponsorship for All-American Soap Box Derby World Championships
By Ohio Energy Reporter | Jul 29, 2024
Akron native Ella Probst loves the thrill of a hill—specifically, the world-famous hill at Derby Downs in her hometown. She was one of more than 320 competitors from the United States, Canada, and Japan who competed in this year’s FirstEnergy All-American Soap Box Derby World Championships, held July 14-20.
RESAP reports progress on Commitment to Zero Contacts Phase 2
By Ohio Energy Reporter | Jul 24, 2024
RESAP and CtZ Phase 2 is in full swing. The organization has facilitated four of nine observations to date. It has been a productive year with significant improvements identified in each of the first four sessions. In total, RESAP has conducted 22 CtZ Phase 2 sessions in Ohio.
FirstEnergy volunteers build bikes for low-income kids in southwestern Pennsylvania
By Ohio Energy Reporter | Jul 24, 2024
FirstEnergy employees recently volunteered to assemble bicycles for children from lower-income families in southwestern Pennsylvania. Forty volunteers from the company’s West Penn Power service area and other FirstEnergy companies joined local businesses and organizations at Mammoth Park in Westmoreland County. This event was part of the United Way of Southwestern Pennsylvania’s annual Build A Bike program.
How risk assessment has evolved: Fostering trust through coaching
By Ohio Energy Reporter | Jul 24, 2024
This article is the second in a series of three written in response to input provided for the Co-op Forum in the April 2024 edition of RE Magazine.
COLT graduates 27 apprentices amid ongoing pandemic challenges
By Ohio Energy Reporter | Jul 24, 2024
The COLT training center has announced the graduation of 27 apprentices who began their training in 2020. Despite challenges posed by the COVID-19 pandemic, the center, along with electric cooperatives across Ohio, maintained operations to ensure safety and continued education.
FirstEnergy declares quarterly dividend payable September 1
By Ohio Energy Reporter | Jul 24, 2024
FirstEnergy Corp. Declares Common Stock Dividend of $0.425 Per Share
Rural electric cooperatives emphasize unseen benefits in enhancing worker safety
By Ohio Energy Reporter | Jul 24, 2024
This time of year, there is a heightened sense of alert due to the rise in electrical contact incidents during the summer months with increased exposure. "Let's keep that conversation alive," said Dwight Miller, Senior Director of Safety Training and Loss Prevention at Ohio's Electric Cooperatives.
Ohio joins 26 states in Supreme Court challenge against EPA's new power plant rule
By Ohio Energy Reporter | Jul 23, 2024
Ohio and 26 other states have petitioned the U.S. Supreme Court to halt the Environmental Protection Agency's (EPA) power plant rule, finalized in early May. Among the declarations of harm filed is one from Buckeye Power, a not-for-profit power generation corporation for Ohio’s electric cooperatives.
Energy-saving tips for swimming pools this summer
By Ohio Energy Reporter | Jul 23, 2024
If you own a pool, you’re probably spending hundreds of dollars each year to operate it. According to ENERGY STAR, your pool pump could be your home’s second largest energy user. These tips can help you save on your electric bill while enjoying your pool.
Smart grid enhancements underway for York and Adams counties' electric systems
By Ohio Energy Reporter | Jul 22, 2024
FirstEnergy Pennsylvania Electric Company (FE PA), a subsidiary of FirstEnergy Corp. (NYSE: FE) operating as Met-Ed in eastern Pennsylvania, is implementing smart, automated equipment on neighborhood power lines serving 24,160 customers in York and Adams Counties. This initiative aims to mitigate prolonged service interruptions, especially during severe weather conditions.
FirstEnergy renews title sponsorship with International Soap Box Derby through 2027
By Ohio Energy Reporter | Jul 19, 2024
FirstEnergy Corp. (NYSE: FE) is extending its title sponsorship with The International Soap Box Derby (ISBD) for three years, covering the period from 2025 to 2027. This renewal continues a partnership that began in 2012 between the two Akron-based entities.
Electric cooperatives announce teams for 2024 step challenge
By Ohio Energy Reporter | Jul 19, 2024
Adams Rural Electric and several other cooperatives have announced their participation in the 2024 Walk The Line Step Challenge. Teams from various cooperatives will compete in this annual event aimed at promoting health and wellness among employees.
FirstEnergy completes receipt of $3.5B proceeds from FET stake sale
By Ohio Energy Reporter | Jul 17, 2024
FirstEnergy Corp. (NYSE: FE) announced on July 17, 2024, that it has received the remaining $1.2 billion in proceeds from the $3.5 billion sale of a 30% ownership interest in its FirstEnergy Transmission, LLC (FET) subsidiary to Brookfield Super-Core Infrastructure Partners (Brookfield). The initial proceeds of $2.3 billion were received from Brookfield when the transaction closed in March. The remaining $1.2 billion in interest-bearing notes were extinguished with Brookfield's final payment on July 17.
Ohio's youth tour sees record participation in 2024
By Ohio Energy Reporter | Jul 16, 2024
OEC’s 2024 Youth Tour concluded on June 21, setting a record for the number of cooperatives participating in the program. A total of 50 student delegates from 20 Ohio cooperatives and one West Virginia co-op, Harrison REA, traveled to Washington D.C. for a week-long educational trip.
Stark County residents prepare for state hearing on proposed Stark Solar Farm
By Ohio Energy Reporter reports | Jul 11, 2024
Residents of Stark County held a fundraiser at Marlington High School in Alliance on Sunday to support their efforts to stop the proposed Stark County Solar farm in Washington Township. The fundraiser was part of their preparation for an August 5 Ohio Power Siting Board public hearing on the project.
FirstEnergy receives industry award for winter storm outage restoration efforts
By Ohio Energy Reporter | Jul 11, 2024
FirstEnergy Corp. (NYSE: FE) has received an Emergency Recovery Award from the Edison Electric Institute (EEI) for its exceptional efforts in restoring power to hundreds of thousands of customers across Ohio, Pennsylvania, West Virginia, Maryland, and New Jersey following Winter Storms Finn and Gerri in January 2024. This marks the 19th consecutive year that FirstEnergy has been recognized by EEI for its storm response initiatives.
Lebanon approves $13.4M solar project with Kokosing Solar
By Ohio Energy Reporter | Jul 10, 2024
After a public bidding process, Kokosing Solar was selected as the Design-Build and EPC Partner for the City of Lebanon Solar Project. In a unanimous vote, the City Council approved the $13.4 million solar project largely due to its long-term financial benefits to ratepayers. Lebanon is the seventh largest municipal-owned utility in Ohio.
Assurant partners with Kokosing Solar for $5M renewable energy project
By Ohio Energy Reporter | Jul 10, 2024
Assurant, Inc., a premier provider of specialty insurance, embarked on its first solar project by conducting a nationwide search. Kokosing Solar was selected for its expertise in solar project development and construction. The collaboration resulted in a 1.8 MW solar project structured as a Power Purchase Agreement (PPA). This $5 million roof and parking canopy project was designed and built by Kokosing Solar's team, delivered on time and within budget.