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13	13	= Brief Company Summary =
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15		-FirstEnergy Corp (NYSE:FE) is an American holding company that operates in electric utility industry and is involved in the transmission, distribution, and generation of electricity. The company serves over six million customers in the Midwest and Mid-Atlantic regions. FirstEnergy is a holding company with its primary assets being its subsidiaries. Substantially all the businesses are conducted by the subsidiaries as well. FirstEnergy’s 10 regulated distribution companies form one of the nation’s largest investor-owned electric systems. The infrastructure of the company includes 269,000 miles of distribution lines; transmission operations include over 24,000 miles of transmission lines and two regional transmission operation centers. The 10 subsidiaries of the company are Ohio Edison (OE), The Cleveland Electric Illuminating Company (CEI), Toledo Edison (TE), Met-Ed (ME), Penelec, Penn Power (PE), West Penn Power (WP), Jersey Central Power & Light (JCP&L), Mon Power (MP), and Potomac Edison (PE). However, apart from these subsidiaries, the company has more subsidiaries (in some cases under the ownership of other subsidiaries).
	15	+[[image:FirstEnergy_Logo.svg.png||alt="firstenergy corp logo" height="103" style="float:left" width="424"]]FirstEnergy Corp (NYSE:FE) is an American holding company that operates in electric utility industry and is involved in the transmission, distribution, and generation of electricity. The company serves over six million customers in the Midwest and Mid-Atlantic regions. FirstEnergy is a holding company with its primary assets being its subsidiaries. Substantially all the businesses are conducted by the subsidiaries as well. FirstEnergy’s 10 regulated distribution companies form one of the nation’s largest investor-owned electric systems. The infrastructure of the company includes 269,000 miles of distribution lines; transmission operations include over 24,000 miles of transmission lines and two regional transmission operation centers. The 10 subsidiaries of the company are Ohio Edison (OE), The Cleveland Electric Illuminating Company (CEI), Toledo Edison (TE), Met-Ed (ME), Penelec, Penn Power (PE), West Penn Power (WP), Jersey Central Power & Light (JCP&L), Mon Power (MP), and Potomac Edison (PE). However, apart from these subsidiaries, the company has more subsidiaries (in some cases under the ownership of other subsidiaries).
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17	17	The subsidiaries of the company can be broadly classified into two categories - regulated utility operating subsidiaries and regulated transmission operating subsidiaries. The revenue of the company is generated from service provided by the Utilities and Transmission Companies. However, the company has two operating segments - regulated distribution and regulated transmission.
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	20	+[[image:First Energy Campus.jpg||alt="firstenergy corp campus"]]
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19	19	FirstEnergy is listed in the New York Stock Exchange (NYSE) under the symbol FE. As of May, 2023, 52-week price range of the company was $42.29 to $33.76. Trailing P/E of the company is 58.30 times, price to sales ratio is 1.90 times, profit margin is 3.28%, return on assets (ttm) is 2.60%, return on equity is 4.73%. Trailing annual dividend yield of the company as of May, 2023 is 4.43%, payout ratio is 219.72%. Diluted earnings per share for the first quarter of 2023 is $0.51, which was $0.50 for the same quarter a year earlier, total number of shares outstanding on March 31, 2023 is 572,836,882.
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21	21	== Consolidation of Pennsylvania Companies ==
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103	103	The Regulated Transmission segment provides transmission infrastructure owned and operated by the Transmission Companies and certain of FirstEnergy's utilities (JCP&L, MP, PE and WP) to transmit electricity from generation sources to distribution facilities. The segment's revenues are primarily derived from forward-looking formula rates. Under forward-looking formula rates, the revenue requirement is updated annually based on a projected rate base and projected costs, which is subject to an annual true-up based on actual rate base and costs. The segment's results also reflect the net transmission expenses related to the delivery of electricity on FirstEnergy's transmission facilities.
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	109	+[[image:transmission lines.jpg||alt="firstenergy trnasmission lines"]]
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105	105	**Corporate/Other**
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107	107	This segment reflects corporate support and other costs not charged or attributable to the Utilities or Transmission Companies, including FE's retained Pension and OPEB assets and liabilities of the FES Debtors, interest expense on FE’s holding company debt and other investments or businesses that do not constitute an operating segment. Additionally, reconciling adjustments for the elimination of inter-segment transactions are included in Corporate/Other. As of December 31, 2022, 67 MWs of electric generating capacity, representing AE Supply's OVEC capacity entitlement, was also included in Corporate/Other for segment reporting. As of December 31, 2022, Corporate/Other had approximately $5.4 billion of FE holding company debt.
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119	119	FirstEnergy announced its plan to move away from commodity-exposed generation and transform into a fully regulated transmission and distribution utility in 2016. The final milestone in this successful separation took place on February 27, 2020.
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