Firstenergy

FirstEnergy has appointed Jon Dormo as Vice President of Generation Project Development; he reports to Chris Beam and will take on the planning and development of new power generation projects. Dormo brings nearly 20 years of industry experience, most recently serving as managing director, projects at American Electric Power, and will work with internal teams as well as regulators and communities. Meanwhile, FirstEnergy subsidiaries are seeking permits for the planned 1,200-MW Maidsville gas combined-cycle plant and 70 MW of solar facilities in West Virginia. » Mere på de.investing.com

FirstEnergy has named Chris Beam president of West Virginia/Maryland operations, Hanneke Counts vice president of environmental health and safety, and Daniel Puscas chief information officer. Beam will lead Mon Power, Potomac Edison and the regulated generation business and will report to Wade Smith. Counts will report to COO Toby Thomas and take on environmental, health and safety responsibilities, while Puscas will report to CEO Brian X. Tierney and be responsible for the technology, digital and cyber security strategy. The appointments come against a backdrop of stable fundamentals, a market capitalization of USD 27.6 billion and a dividend yield of 3.9%. » Mere på de.investing.com

FirstEnergy subsidiaries The Illuminating Company, Ohio Edison and Toledo Edison filed a three-year rate plan with the PUCO proposing average annual infrastructure investments of $800 million. Planned items include $83 million annually for tree trimming and vegetation management, an Energy Assistance Fund ( $4 million starting in 2029) and an Emergency Energy Support Fund ($1 million). The proposed rates would raise the monthly bill of a typical household using about 1,000 kWh per month by an average of 2.2–2.8% per year (Ohio Edison $4.26; The Illuminating Company $5.15; Toledo Edison $5.30). PUCO is reviewing the filing and offering opportunities for public comment; the measure affects only the distribution portion of the bill. » Mere på de.investing.com