FirstEnergy
FirstEnergy Corp. is one of the largest investor-owned electric systems in the United States, primarily focused on the transmission, distribution, and generation of electricity. The company operates a vast network of transmission lines and serves over six million customers across the Midwest and Mid-Atlantic regions. Its core value proposition lies in providing regulated utility services through a diverse portfolio of operating companies that manage a significant rate base across multiple states.
Financials
Based on Q1 2026 filing
Revenue
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Distribution
primaryThis segment manages the regulated distribution of electricity through operating companies in Ohio and Pennsylvania. It focuses on delivering power to residential, commercial, and industrial customers and purchasing power to meet default service requirements.
Electric Distribution Service, Standard Service Offer, Default Service Plan
Residential, Commercial, Industrial, Municipal
Integrated
majorThis segment combines distribution and transmission operations in New Jersey, West Virginia, and Maryland, along with regulated power generation. It operates a mix of coal, solar, and hydroelectric facilities to support its utility load obligations.
Electric Distribution Service, Electric Transmission Service, Regulated Electric Generation, Solar Generation, Pumped-storage Hydroelectric Generation
Retail Electric Customers, Wholesale Power Markets
Stand-Alone Transmission
moderateThis segment consists of high-voltage transmission assets that transmit electricity across the PJM Region. Revenues are primarily derived from FERC-regulated forward-looking formula rates based on projected costs and rate base.
High-voltage Transmission Facilities, Transmission Infrastructure, Formula Rate Services
Load Serving Entities, Regional Transmission Organizations
Segment Financials
Distribution Segment — Revenue
View metricDistribution Segment — Capital investments
View metricDistribution Segment — Interest Expense
View metricIntegrated — Revenue
View metricBusiness Overview
Competitive Position
FirstEnergy maintains a dominant, non-competitive position in its regulated distribution territories while facing increasing competition in the transmission sector from non-incumbent developers under FERC Order No. 1000.
Geographies
Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, New York, Virginia
Customer Segments
Residential, Commercial, Industrial, Public Sector
Upstream Dependencies
Coal Suppliers, Solar Equipment Manufacturers, Natural Gas Suppliers, Electrical Grid Component Manufacturers
Downstream Customers
Residential Households, Commercial Businesses, Industrial Manufacturing Plants, Government Agencies
Competitors & Partners
Competitors
Partners
Brookfield Asset Management
BAM
Joint venture partner holding a 49.9% interest in FirstEnergy Transmission, LLC (FET).
Dominion Energy
D
Partner in the Valley Link Operating Agreement for transmission projects.
PJM Interconnection
Regional Transmission Organization (RTO) that coordinates the movement of wholesale electricity.
Subsidiaries
Ohio Edison
Regulated electric distribution utility in Ohio.
Jersey Central Power & Light
Regulated electric utility providing distribution and transmission in New Jersey.
Monongahela Power
Regulated utility providing distribution, transmission, and generation in West Virginia.
American Transmission Systems, Incorporated
Transmission-only subsidiary operating in Ohio and Pennsylvania.
Potomac Edison
Regulated electric utility serving Maryland and West Virginia.
FirstEnergy FAQ
Common questions about FirstEnergy
FirstEnergy Corp. is one of the largest investor-owned electric systems in the United States, primarily focused on the transmission, distribution, and generation of electricity. The company operates a vast network of transmission lines and serves over six million customers across the Midwest and Mid-Atlantic regions. Its core value proposition lies in providing regulated utility services through a diverse portfolio of operating companies that manage a significant rate base across multiple states.
FirstEnergy (FE) has a market capitalization of $25.6B and trades on NYSE.
FirstEnergy generated $15.5B in trailing twelve-month revenue with net income of $1.1B, representing a net margin of 7.2%, with free cash flow of -$1.7B. These figures are based on the Q1 2026 filing.
FirstEnergy's key competitors include Exelon, American Electric Power, PPL Corporation, and others. These companies compete in similar markets and product categories.
FirstEnergy has approximately 12,042 employees.