
Summary
FIRSTEERGY is an electric company based in Akron, Ohio. It is one of the largest property electrical systems in the country, with 10 regulated subsidiaries. The company has a small regulated generation capacity, less than 4,000 MW. Fe focuses on transmission and distribution; However, the company has been selling portions of its transmission business. The company serves more than 6 million customers, including 2.3 million in Ohio, 1.8 million in Pennsylvania and 2 million more in WV, MD and NJ. By 2024, revenue was $ 13.5 billion, of which only 50% came from distribution operations and 36% came from integrated services.
We believe that the company is at a disadvantage in front of its peers, given its strong confidence in the generation of coal. Of the capacity of generation in 2024, 3,200 MW comes from plants to coal, with the rest of the energy of the hydro and solar. FE has pledged to reduce GEH emissions by 30% (since its 2019 base line) in 2