FirstEnergy Corp.: SWOT Analysis & Company Profile by BusinessReview

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									FirstEnergy Corp.

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FirstEnergy Corp.: SWOT Analysis &
Company Profile


Reference code: BRPW017CP10-Q4

Published: Apr 2010




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FirstEnergy Corp. - SWOT Profile                                                    Page 1
FirstEnergy Corp.

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FirstEnergy Corp. - Company Overview

FirstEnergy Corp. (FirstEnergy) is an energy holding company. Through its subsidiaries and affiliates, the company is
active in the generation, transmission and distribution of electricity. In addition, the company also provides energy
management and other energy-related services. FirstEnergy serves nearly 4.5 million customers within 36,100 square
miles of Ohio, Pennsylvania and New Jersey. Its generation subsidiaries operate 19 power plants with a total system
capacity of more than 13,710 MW. The generation portfolio of the company is comprised of coal-fired units, nuclear
plants, gas & oil based plants and hydroelectric plants. It is headquartered in Akron, Ohio, the US.

Recently, the company’s subsidiary FirstEnergy Generation Corp. successfully completed the sale of its 340-megawatt
(MW) Sumpter Plant in Sumpter, Michigan, to Wolverine Power Supply Cooperative, Inc.


Financial Performance

The company reported revenues of (U.S. Dollars) USD 12,967.00 million during the fiscal year ended December 2009, a
decrease of 4.84% from 2008. The operating profit of the company was USD 1,879.00 million during the fiscal year 2009,
a decrease of 31.90% from 2008. The net profit of the company was USD 1,006.00 million during the fiscal year 2009, a
decrease of 25.04% from 2008.




FirstEnergy Corp. - Key Facts

FirstEnergy Corp., Key Facts

                                  76 South Main Street, Akron,
                                                                       Ticker Symbol, Stock
Corporate Address:                Ohio (OH), 44308, United States Exchange
                                                                                                  FE (New York Stock Exchange)




Telephone                         + 1 800 7363402                      No. of Employees           13,379



Fax                               + 1 330 3843772                      Financial Year End         December



URL                               www.firstenergycorp.com              Revenue (in USD Million)   12,967.00


                                  Energy and Utilities , Alternative
Industry
                                  Energy , Nuclear Energy , Power


Locations                         United States

Source: Annual Report, Company Website, Primary and Secondary Research




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FirstEnergy Corp. - SWOT Profile                                                                                       Page 2
FirstEnergy Corp.

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FirstEnergy Corp. - Business Description

FirstEnergy, through its subsidiaries is engaged in the generation, transmission and distribution of electricity in the states
of Ohio, Pennsylvania and New Jersey. Besides, it also provides energy management and other energy-related services.
The subsidiaries of the company have 19 power plants with a total capacity of 13,710 MW. In addition to its operating
subsidiaries, FirstEnergy also holds all of the outstanding common stock of other direct subsidiaries which include
FELHC, Inc., FirstEnergy Facilities Services Group, LLC, FirstEnergy Properties, Inc., FirstEnergy Ventures Corp.,
FirstEnergy Fiber Holdings Corp., GPU Power, Inc., and GPU Nuclear, Inc.

Electric utility operating subsidiaries of the company include Ohio Edison Company (OE), The Cleveland Electric
Illuminating Company (CEI), The Toledo Edison Company (TE), Pennsylvania Power Company (Penn), (ATSI), Jersey
Central Power & Light Company (JCP&L), Metropolitan Edison Company (Met-Ed) and Pennsylvania Electric Company
(Penelec).

The company operates principally through two core business segments namely, Energy Delivery Services, and
Competitive Energy Services.

Energy Delivery Services segment of the company is involved in transmitting and distributing electricity through
FirstEnergy’s eight utility operating companies. FirstEnergy, through this segment, serves 4.5 million customers within
36,100 square miles of Ohio, Pennsylvania and New Jersey. This business segment derives its revenue from the delivery
of electricity, cost recovery of regulatory assets, and the sale of electric generation service to retail customers in Ohio,
Pennsylvania and New Jersey franchise areas.

The Competitive Energy Services segment engages in providing electric power to end-users through various wholesale
and retail arrangements. The segment primarily offers retail electricity services to customers in Ohio, Pennsylvania,
Maryland and Michigan. Besides, this segment also operates the company’s generating facilities, as well as purchases
electricity to meet its sales obligations. The company owns and leases 19 power generation facilities with a net capacity of
13,710 MW.

Further, FirstEnergy Solutions Corp. (FES), the unregulated retail energy business subsidiary of FirstEnergy Corp., is
involved in the generation and sale of electricity and also offers energy planning and procurement services through retail
and wholesale competitive supply arrangements. It supplies energy to residential and commercial and industrial
customers in Ohio, Maryland, Pennsylvania, Michigan and New Jersey. FES controls 14,346 MW of installed generating
capacity.

Recently, the company entered into a Merger Agreement with Allegheny that is expected to be completed by the first half
of 2011. Through this agreement, the company would hold generation subsidiaries that own or lease nearly 24,000 MWs
of generating capacity, as well as transmission subsidiaries owning more than 20,000 miles of high-voltage lines that
connect the Midwest and Mid-Atlantic.




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FirstEnergy Corp. - SWOT Profile                                                                                     Page 3
FirstEnergy Corp.

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FirstEnergy Corp. - Major Products and Services

FirstEnergy is a diversified energy company. It engages in the generation, transmission and distribution of electricity, as
well as energy management. The company's major products and services include the following:

FirstEnergy Corp., Major Products and Services
Products:

Electricity

Services:

Electricity Generation

Electricity Transmission

Electricity Distribution

Energy Planning

Energy Procurement
Source: Annual Report, Company Website, Primary and Secondary Research




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FirstEnergy Corp. - SWOT Profile                                                                                     Page 4
FirstEnergy Corp.

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FirstEnergy Corp. - History

FirstEnergy Corp., History

    Year                Event type                                                    Description


                                                In 2009, Firstenergy, Consumers’ Counsel, NOPEC, NOAC and other remaining
   2009      Contracts/Agreements
                                                parties entered into an agreement on electric security plan.


                                                In 2009, FirstEnergy received the Edison Electric Institute’s (EEI) 2009 Supplier
   2009      Corporate Awards
                                                Diversity Excellence Award.


                                                In 2009, the company's subsidiary FirstEnergy Solutions, offered community grants of
   2009      Others                             approximately $3.7 million to City of Akron, Summit County, City of Barberton and City
                                                of Green.


                                                In 2008, the company's subsidiary FirstEnergy Generation Corp. won the auction sale
   2008      Asset Purchase
                                                of 707-megawatt (M
								
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