Analyst Report: Firstenergy Corp.

Argus

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Apr 04, 2025

Summary

FirstEnergy is an electrical institution based successful Akron, Ohio. It is 1 of the nation's largest investor-owned electrical systems, with 10 regulated subsidiaries. The institution has tiny regulated generating capacity, nether 4,000 MW. FE's absorption is connected transmission and distribution; however, the institution has been selling portions of its transmission business. The institution serves implicit 6 cardinal customers, including 2.3 cardinal successful Ohio, 1.8 cardinal successful Pennsylvania, and 2 cardinal much successful WV, MD, and NJ. In 2024, revenues were $13.5 billion, of which conscionable 50% was from organisation operations and 36% was from integrated utilities.

We judge that the institution is astatine a disadvantage versus its peers fixed its dense reliance connected ember generation. Of generating capableness successful 2024, 3,200 MW is from coal-fired plants, with the remaining vigor from hydro and solar. FE has pledged to trim GHG emissions by 30% (from its 2019 baseline) by 2