FIRSTENERGY CORP
For the period ended Sep 30, 2024. Filed Oct 29, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 29, 2024
FE$46.62+0.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Glossary of Termsii
GLOSSARY OF TERMS
The following abbreviations and acronyms are used in this report to identify FirstEnergy Corp. and its current and former subsidiaries:
| AE Supply | Allegheny Energy Supply Company, LLC, an unregulated generation subsidiary of FE |
|---|---|
| AGC | Allegheny Generating Company, a generation subsidiary of MP |
| ATSI | American Transmission Systems, Incorporated, a transmission subsidiary of FET |
| CEI | The Cleveland Electric Illuminating Company, an Ohio electric power company subsidiary of FE |
| Electric Companies | OE, CEI, TE, FE PA, JCP&L, MP and PE |
| FE | FirstEnergy Corp., a public electric power holding company |
| FE PA | FirstEnergy Pennsylvania Electric Company, a Pennsylvania electric power company subsidiary of FirstEnergy Pennsylvania Holding Company LLC, a wholly owned subsidiary of FE |
| FESC | FirstEnergy Service Company, which provides legal, financial and other corporate support services |
| FES Debtors | Energy Harbor LLC (formerly known as FirstEnergy Solutions Corp.), a subsidiary of EH, and its subsidiaries as of March 31, 2018, and Energy Harbor Nuclear Corp. (formerly known as FirstEnergy Nuclear Operating Company), a subsidiary of EH, which operates EH’s nuclear generating facilities. |
| FET | FirstEnergy Transmission, LLC a consolidated VIE of FE, and the parent company of ATSI, MAIT and TrAIL, and having a joint venture in PATH |
| FEV | FirstEnergy Ventures Corp., which invests in certain unregulated enterprises and business ventures |
| FirstEnergy | FirstEnergy Corp., together with its consolidated subsidiaries |
| Global Holding | Global Mining Holding Company, LLC, a joint venture between FEV, WMB Marketing Ventures, LLC and Pinesdale LLC |
| JCP&L | Jersey Central Power & Light Company, a New Jersey electric power company subsidiary of FE |
| KATCo | Keystone Appalachian Transmission Company, a transmission subsidiary of FE |
| MAIT | Mid-Atlantic Interstate Transmission, LLC, a transmission subsidiary of FET |
| ME | Metropolitan Edison Company, a former Pennsylvania electric power company subsidiary of FE, which merged with and into FE PA on January 1, 2024 |
| MP | Monongahela Power Company, a West Virginia electric power company subsidiary of FE |
| OE | Ohio Edison Company, an Ohio electric power company subsidiary of FE |
| Ohio Companies | CEI, OE and TE |
| PATH | Potomac-Appalachian Transmission Highline, LLC, a joint venture between FE and a subsidiary of AEP |
| PATH-Allegheny | PATH Allegheny Transmission Company, LLC |
| PATH-WV | PATH West Virginia Transmission Company, LLC |
| PE | The Potomac Edison Company, a Maryland and West Virginia electric power company subsidiary of FE |
| Penn | Pennsylvania Power Company, a former Pennsylvania electric power company subsidiary of OE, which merged with and into FE PA on January 1, 2024 |
| Pennsylvania Companies | ME, PN, Penn and WP, each of which merged with and into FE PA on January 1, 2024 |
| PN | Pennsylvania Electric Company, a former Pennsylvania electric power company subsidiary of FE, which merged with and into FE PA on January 1, 2024 |
| Signal Peak | Signal Peak Energy, LLC, an indirect subsidiary of Global Holding that owns mining operations near Roundup, Montana |
| TE | The Toledo Edison Company, an Ohio electric power company subsidiary of FE |
| TrAIL | Trans-Allegheny Interstate Line Company, a transmission subsidiary of FET |
| Transmission Companies | ATSI, KATCo, MAIT and TrAIL |
| WP | West Penn Power Company, a former Pennsylvania electric power company subsidiary of FE, which merged with and into FE PA on January 1, 2024 |
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| The following abbreviations and acronyms may be used to identify frequently used terms in this report: | |
|---|---|
| 2021 Credit Facilities | Collectively, the six separate senior unsecured five-year syndicated revolving credit facilities entered into by FE, the Electric Companies and the Transmission Companies, on October 18, 2021, as amended through October 20, 2023 |
| 2023 Credit Facilities | Collectively, the FET Revolving Facility and KATCo Revolving Facility |
| 2026 Convertible Notes | FE’s 4.00% convertible senior notes, due 2026 |
| A&R FET LLC Agreement | Fourth Amended and Restated Limited Liability Company Agreement of FET |
| ACE | Affordable Clean Energy |
| AEP | American Electric Power Company, Inc. |
| AFS | Available-for-sale |
| AFSI | Adjusted Financial Statement Income |
| AFUDC | Allowance for Funds Used During Construction |
| AMI | Advanced Metering Infrastructure |
| AMT | Alternative Minimum Tax |
| AOCI | Accumulated Other Comprehensive Income (Loss) |
| ARO | Asset Retirement Obligation |
| ASU | Accounting Standards Update |
| BGS | Basic Generation Service |
| Brookfield | North American Transmission Company II L.P., a controlled investment vehicle entity of Brookfield Infrastructure Partners |
| Brookfield Guarantors | Brookfield Super-Core Infrastructure Partners L.P., Brookfield Super-Core Infrastructure Partners (NUS) L.P., and Brookfield Super-Core Infrastructure Partners (ER) SCSp |
| CAA | Clean Air Act |
| CCR | Coal Combustion Residual |
| CERCLA | Comprehensive Environmental Response, Compensation, and Liability Act of 1980 |
| CFIUS | Committee on Foreign Investments in the United States |
| CFR | Code of Federal Regulations |
| CO2 | Carbon Dioxide |
| CODM | Chief Operating Decision Maker |
| COVID-19 | Coronavirus disease |
| CPP | EPA's Clean Power Plan |
| CSAPR | Cross-State Air Pollution Rule |
| D.C. Circuit | United States Court of Appeals for the District of Columbia Circuit |
| DCR | Delivery Capital Recovery |
| DMR | Distribution Modernization Rider |
| DOE | United States Department of Energy |
| DPA | Deferred Prosecution Agreement entered into on July 21, 2021 between FE and the U.S. Attorney’s Office for the S.D. Ohio |
| DSIC | Distribution System Improvement Charge |
| EDC | Electric Distribution Company |
| EE&C | Energy Efficiency and Conservation |
| EESG | Employee, Environmental, Social and Corporate Governance |
| EGS | Electric Generation Supplier |
| EGU | Electric Generation Unit |
| EH | Energy Harbor Corp. |
| ELG | Effluent Limitation Guideline |
| EmPOWER Maryland | EmPOWER Maryland Energy Efficiency Act |
| ENEC | Expanded Net Energy Cost |
| Energize365 | FirstEnergy's Transmission and Distribution Infrastructure Investment Program |
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| EnergizeNJ | JCP&L's second Infrastructure Investment Program |
|---|---|
| EPA | United States Environmental Protection Agency |
| EPS | Earnings Per Share |
| ESP | Electric Security Plan |
| Exchange Act | Securities and Exchange Act of 1934, as amended |
| FASB | Financial Accounting Standards Board |
| FE Board | FE Board of Directors |
| FE Revolving Facility | FE and the Electric Companies’ former five-year syndicated revolving credit facility, as amended, and replaced by the 2021 Credit Facilities on October 18, 2021 |
| FERC | Federal Energy Regulatory Commission |
| FET Board | FET Board of Directors |
| FET Equity Interest Sale | Sale of an additional 30% equity interest in FET that closed on March 25, 2024, such that Brookfield’s interest in FET increased from 19.9% to 49.9% |
| FET P&SA I | Purchase and Sale Agreement entered into on November 6, 2021, by and between FE, FET, Brookfield and the Brookfield Guarantors |
| FET P&SA II | Purchase and Sale Agreement entered into on February 2, 2023, by and between FE, FET, Brookfield and the Brookfield Guarantors |
| FET Revolving Facility | FET’s five-year syndicated revolving credit facility, dated as of October 20, 2023 |
| FIP | Federal Implementation Plan(s) under the CAA |
| Fitch | Fitch Ratings Service |
| FMB | First Mortgage Bond |
| FTR | Financial Transmission Right |
| GAAP | Generally Accepted Accounting Principles in the United States of America |
| GHG | Greenhouse Gas |
| HB 6 | House Bill 6, as passed by Ohio's 133rd General Assembly |
| IRA of 2022 | Inflation Reduction Act of 2022 |
| IRS | Internal Revenue Service |
| KATCo Revolving Facility | KATCo’s four-year syndicated revolving credit facility, dated as of October 20, 2023 |
| LOC | Letter of Credit |
| LTIIP | Long-Term Infrastructure Improvement Plan |
| MDPSC | Maryland Public Service Commission |
| MGP | Manufactured Gas Plants |
| Moody’s | Moody’s Investors Service, Inc. |
| MW | Megawatt |
| MWh | Megawatt-hour |
| NCI | Noncontrolling Interest |
| N.D. Ohio | Federal District Court, Northern District of Ohio |
| NERC | North American Electric Reliability Corporation |
| NJBPU | New Jersey Board of Public Utilities |
| NOL | Net Operating Loss |
| NOx | Nitrogen Oxide |
| NYPSC | New York State Public Service Commission |
| OAG | Ohio Attorney General |
| OCC | Ohio Consumers' Counsel |
| ODSA | Ohio Development Service Agency |
| Ohio Stipulation | Stipulation and Recommendation, dated November 1, 2021, entered into by and among the Ohio Companies, the OCC, PUCO Staff and several other signatories |
| OOCIC | Ohio Organized Crime Investigations Commission, which is composed of members of the Ohio law enforcement community and is chaired by the OAG |
| OPEB | Other Post-Employment Benefits |
| OPIC | Other Paid-In Capital |
| OVEC | Ohio Valley Electric Corporation |
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| PA Consolidation | Consolidation of the Pennsylvania Companies, effective January 1, 2024 |
|---|---|
| PEER | FirstEnergy’s Program for Enhanced Employee Retirement |
| PJM | PJM Interconnection, LLC, an RTO |
| PJM Tariff | PJM Open Access Transmission Tariff |
| PPA | Purchase Power Agreement |
| PPUC | Pennsylvania Public Utility Commission |
| PUCO | Public Utilities Commission of Ohio |
| Regulation FD | Regulation Fair Disclosure promulgated by the SEC |
| RFC | ReliabilityFirst Corporation |
| ROE | Return on Equity |
| RTO | Regional Transmission Organization |
| S.D. Ohio | Federal District Court, Southern District of Ohio |
| SEC | United States Securities and Exchange Commission |
| SEET | Significantly Excessive Earnings Test |
| SIP | State Implementation Plan(s) under the CAA |
| SLC | Special Litigation Committee of the FE Board |
| SO2 | Sulfur Dioxide |
| SOFR | Secured Overnight Financing Rate |
| SOS | Standard Offer Service |
| SPE | Special Purpose Entity |
| S&P | Standard & Poor’s Ratings Service |
| Tax Act | Tax Cuts and Jobs Act adopted December 22, 2017 |
| U.S. | United States |
| U.S.C. | United States Code |
| VIE | Variable Interest Entity |
| VSCC | Virginia State Corporation Commission |
| WVPSC | Public Service Commission of West Virginia |
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