From version < 3.31 >
edited by Md. Touhidul Islam
on 2023/05/21 02:16
To version < 3.32 >
edited by Md. Touhidul Islam
on 2023/05/21 02:17
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37 37  
38 38  The $237 increase in total revenue of the company has resulted mainly from $258 million increase in total generation sales, $18 million decrease in distribution services revenue and $3 million decrease in other revenues. Regulated Distribution’s earnings attributable to FE decreased $29 million in the first three months of 2023, as compared to the same period of 2022, primarily resulting from lower weather-related customer usage, higher pension and OPEB expenses, and higher interest expense, partially offset by higher revenues from capital investment programs, higher weather-adjusted customer usage and demands and lower other operating expenses.
39 39  
40 +Revenues from the regulated transmission segment increased by $8 million primarily due to the recovery of higher rate base and operating expenses, partially offset by the absence of a formula rate adjustment at JCP&L in the first quarter of 2022. Regulated Transmission’s earnings attributable to FE decreased $11 million in the first three months of 2023, as compared to the same period of 2022, primarily due to the 19.9% minority equity interest sale in FET that closed in May 2022, and charges resulting from ongoing audits and proceedings, partially offset by higher rate base and lower net financing costs.
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42 +Financial results at Corporate/Other resulted in a $44 million decrease in loss attributable to FE in the first three months of 2023, as compared to the same period of 2022.
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44 +As of March 31, 2023, FirstEnergy had $177 million of cash and cash equivalents and $29 million of restricted cash compared to $160 million of cash and cash equivalents and $46 million of restricted cash as of December 31, 2022, on the Consolidated Balance Sheets. Cash provided from (used for) operating activities was $(112) million compared to $355 million in the first three months of 2023 and 2022, respectively. Cash used for investing activities for the first three months of 2023 increased $124 million, compared to the same period of 2022, primarily due to capital investments. In the first three months of 2023 and 2022, cash provided from (used for) financing activities was $828 million and $(964) million, respectively.
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40 40  == Annual Performance Highlights ==
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