FirstEnergy Corp. (NYSE: FE) announced on August 13, 2024, that it has reached an agreement with the Office of the Ohio Attorney General and the Office of the Summit County Prosecutor to resolve all outstanding proceedings between the parties. The agreement became effective on August 12, 2024.
"We are pleased to have reached a resolution with the Ohio Attorney General's Office and the Office of the Summit County Prosecutor, which recognizes the substantial actions FirstEnergy has taken to establish a highly effective compliance program and instill a culture of ethics and integrity at every level of the organization," said Brian X. Tierney, President and Chief Executive Officer. "FirstEnergy, led by a new Board of Directors and executive team, is a stronger organization today, energized by our commitments to our stakeholders and well positioned for the future. As we move forward, our focus is investing in our regulated electric companies to improve the customer experience and to meet their energy needs today and into the future."
FirstEnergy emphasizes its dedication to integrity, safety, reliability, and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.
Forward-looking statements in this release are based on information currently available to management but involve risks and uncertainties. These statements include terms like "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" among others. Factors such as government investigations related to Ohio House Bill 6 (HB 6), economic conditions including recession or inflationary pressures, severe weather events potentially exacerbated by climate change, regulatory developments related to rates or cybersecurity policies may cause actual results to differ materially from those expressed or implied by these forward-looking statements.
Other potential risks include physical attacks or cyber-attacks compromising operations or data security breaches affecting sensitive information; changes in environmental laws; shifts in power demand due to emerging technologies; market conditions impacting liabilities or asset values; human capital management challenges; tax law changes; compliance with debt covenants; credit rating agency actions affecting financing terms; among other factors discussed in SEC filings.
FirstEnergy Corp.'s contact points for news media are Jennifer Young at (330) 761-4362 or jyoung@firstenergycorp.com. For investor relations inquiries contact Gina Caskey at (330) 761-4185 or caskeyg@firstenergycorp.com.