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Firstenergy's Business Segments
Firstenergy's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Segment Data As of Q2 FY2025
Reportable Segments
6
Largest Segment
Regulated Distribution
Total Revenue
$ 3,380
Regions Reported
-
Revenue Share by Reportable Segment - Q2 FY2025
- Regulated Distribution49.6%
- Integrated37.3%
- Integrated37.3%
- Regulated Transmission13.5%
- Stand-Alone Transmission13.5%
- Corporate and Unallocated0.1%
Revenue by Reportable Segment - Q2 FY2025
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Regulated Distribution | $ 1,675 | 49.6% |
| Integrated | $ 1,261 | 37.3% |
| Integrated | $ 1,261 | 37.3% |
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Revenue by Product & Service Category - Q2 FY2025
- Electricity, US Regulated79.8%
- Electric Transmission16.6%
- Electric Worldwide Unregulated Revenue3.6%
- Transmission1.9%
- Other Services0.1%
- Wholesale Sales0.1%
- Product and Service, Other0%
- Eliminations and Reconciling Adjustments0%
Revenue by Product & Service Category - Q2 FY2025
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Electricity, US Regulated | $ 2,698 | 79.8% |
| Electric Transmission | $ 562 | 16.6% |
| Electric Worldwide Unregulated Revenue | $ 120 | 3.6% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
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Description of Firstenergy
Business Description of FirstEnergy Corp.
FirstEnergy Corp. established in 1996 and headquartered in Akron, Ohio, is a leading public utility holding company that operates in the electric power industry. As a significant player in the sector, FirstEnergy holds the outstanding common stock of several key electric utility operating subsidiaries, primarily serving diverse markets across the northeastern and mid-Atlantic regions of the United States.
Subsidiaries and Service Areas
FirstEnergys extensive portfolio includes eight electric utility operating companies, making it the fifth largest investor-owned electric system in the nation. These subsidiaries are:
1. Ohio Edison Company (OE)
2. The Cleveland Electric Illuminating Company (CEI)
3. Pennsylvania Power Company (Penn)
4. The Toledo Edison Company (TE)
5. American Transmission Systems, Incorporated (ATSI)
6. Jersey Central Power & Light Company (JCP&L)
Metropolitan Edison Company (Met-Ed)
8. Pennsylvania Electric Company (Penelec)
Together, these companies serve approximately4 million customers across a service area of 36,100 square miles, primarily in Ohio, Pennsylvania, and New Jersey.
Business Operations
FirstEnergy Corp. generates the majority of its consolidated revenues through the provision of electric services by its utility operating subsidiaries. Additionally, the organization derives revenue from various other subsidiaries, including:
- FirstEnergy Solutions Corp. (FES): Focused on providing competitive energy services.
- FirstEnergy Facilities Services Group, LLC (FSG): Offers facility management and related services.
- MYR Group Inc. (MYR): Engages in electrical contracting services.
- MARBEL Energy Corporation (MARBEL): Involved in energy-related activities.
- First Communications, LLC: Provides telecommunications services.
FirstEnergy also oversees several other direct subsidiaries, such as FirstEnergy Properties, Inc. FirstEnergy Ventures Corp. FirstEnergy Nuclear Operating Company (FENOC), and FirstEnergy Service Company (FESC), which support the company’s diverse range of operations.
Competitive Landscape
FirstEnergy operates in a competitive environment, engaging with various other utilities and energy suppliers. The company competes for intersystem bulk power sales, as well as for municipal and cooperative sales. It also faces competition from natural gas suppliers and other energy sources in the realms of industrial and commercial sales, particularly concerning climate control systems for residential customers. However, as of the latest assessments, substantial cogeneration initiatives by FirstEnergy’s customers remain limited.
Strategic Vision
FirstEnergy Corp. is committed to becoming a leading provider of retail energy and related services within its operational territories. The company emphasizes customer service, infrastructure investment, and innovation in energy solutions to meet the evolving needs of its customer base while striving to enhance its competitive position in the energy sector.
Overall, FirstEnergy Corp. remains focused on adapting to the challenges and opportunities within the energy landscape while delivering reliable service to millions of customers across its extensive service area.
FirstEnergy Corp. established in 1996 and headquartered in Akron, Ohio, is a leading public utility holding company that operates in the electric power industry. As a significant player in the sector, FirstEnergy holds the outstanding common stock of several key electric utility operating subsidiaries, primarily serving diverse markets across the northeastern and mid-Atlantic regions of the United States.
Subsidiaries and Service Areas
FirstEnergys extensive portfolio includes eight electric utility operating companies, making it the fifth largest investor-owned electric system in the nation. These subsidiaries are:
1. Ohio Edison Company (OE)
2. The Cleveland Electric Illuminating Company (CEI)
3. Pennsylvania Power Company (Penn)
4. The Toledo Edison Company (TE)
5. American Transmission Systems, Incorporated (ATSI)
6. Jersey Central Power & Light Company (JCP&L)
Metropolitan Edison Company (Met-Ed)
8. Pennsylvania Electric Company (Penelec)
Together, these companies serve approximately4 million customers across a service area of 36,100 square miles, primarily in Ohio, Pennsylvania, and New Jersey.
Business Operations
FirstEnergy Corp. generates the majority of its consolidated revenues through the provision of electric services by its utility operating subsidiaries. Additionally, the organization derives revenue from various other subsidiaries, including:
- FirstEnergy Solutions Corp. (FES): Focused on providing competitive energy services.
- FirstEnergy Facilities Services Group, LLC (FSG): Offers facility management and related services.
- MYR Group Inc. (MYR): Engages in electrical contracting services.
- MARBEL Energy Corporation (MARBEL): Involved in energy-related activities.
- First Communications, LLC: Provides telecommunications services.
FirstEnergy also oversees several other direct subsidiaries, such as FirstEnergy Properties, Inc. FirstEnergy Ventures Corp. FirstEnergy Nuclear Operating Company (FENOC), and FirstEnergy Service Company (FESC), which support the company’s diverse range of operations.
Competitive Landscape
FirstEnergy operates in a competitive environment, engaging with various other utilities and energy suppliers. The company competes for intersystem bulk power sales, as well as for municipal and cooperative sales. It also faces competition from natural gas suppliers and other energy sources in the realms of industrial and commercial sales, particularly concerning climate control systems for residential customers. However, as of the latest assessments, substantial cogeneration initiatives by FirstEnergy’s customers remain limited.
Strategic Vision
FirstEnergy Corp. is committed to becoming a leading provider of retail energy and related services within its operational territories. The company emphasizes customer service, infrastructure investment, and innovation in energy solutions to meet the evolving needs of its customer base while striving to enhance its competitive position in the energy sector.
Overall, FirstEnergy Corp. remains focused on adapting to the challenges and opportunities within the energy landscape while delivering reliable service to millions of customers across its extensive service area.
FirstEnergy Corp operates through two major business segments: Regulated Services and Competitive Services. Each segment encompasses a range of entities and offers a variety of products and services tailored to meet the needs of both residential and commercial customers in energy markets.
Regulated Services Segment
The Regulated Services segment is responsible for the transmission and distribution of electricity across various states. This segment involves the operation and maintenance of regulated domestic energy systems, ensuring that franchise customers receive reliable service.
Key Features of Regulated Services:
1. Transmission and Distribution:
- FirstEnergy operates critical infrastructure to transmit and distribute electricity safely and efficiently to millions of customers. This includes maintaining power lines, substations, and other necessary equipment.
- The significant reduction in outages and prompt restoration efforts contribute to customer satisfaction and dependability in service delivery.
2. Electric Generation Services:
- FirstEnergy provides generation services backed by long-term agreements for customers within its franchise areas who have not opted for alternative generation suppliers.
- Ohio Edison (OE), Cleveland Electric Illuminating (CEI), Toledo Edison (TE), and Penn operate under this framework, procuring generation through power supply arrangements with the Competitive Services segment.
3. Franchise Utilities:
- The Regulated Services segment includes several key operating companies, such as:
- Ohio Edison (OE)
- Cleveland Electric Illuminating (CEI)
- Toledo Edison (TE)
- Pennsylvania Electric Company (Penn)
- Jersey Central Power & Light (JCP&L)
- Metropolitan Edison Company (Met-Ed)
- Pennsylvania Electric Company (Penelec)
- American Transmission System, Inc. (ATSI)
Competitive Services Segment
The Competitive Services segment engages in a variety of energy-related operations, emphasizing market-driven initiatives and competitive energy solutions.
Key Features of Competitive Services:
1. Energy Supply:
- This segment supplies energy to wholesale and retail markets, including electricity and natural gas.
- FirstEnergy Solutions Corp. (FES) plays a notable role in supplying a substantial portion of the provider of last resort (PLR) needs for Metropolitan Edison (Met-Ed) and Pennsylvania Electric (Penelec) through wholesale agreements.
2. Generation:
- Competitive services involve the operation of generation facilities owned by various FirstEnergy companies, such as OE, CEI, TE, and Penn.
- Generating facilities include various types of power generation, whether its traditional fossil fuels, nuclear energy, or renewable sources.
3. Commodity Sales and Trading:
- This segment includes the trading and sourcing of commodity requirements, enabling FirstEnergy to optimize energy acquisition and distribution.
- The corporation actively participates in energy trading markets, helping to balance supply and demand while ensuring competitive pricing for its customers.
4. Wide Range of Applications:
- FirstEnergys competitive services extend beyond basic energy provision; they encompass heating, ventilation, and air-conditioning (HVAC) services, refrigeration, process piping, plumbing, electrical systems, and facility control systems.
- These services are designed to enhance energy efficiency and support the operational needs of businesses and residences.
5. Telecommunications:
- Through its majority-owned subsidiary, First Communications, LLC, the company provides a variety of telecommunication services, including local and long-distance phone services to a significant customer base of over 65,000 clients.
Subsidiary Operations
FirstEnergys subsidiaries play an integral role in delivering products and services within the two segments:
- FirstEnergy Solutions Corp. (FES): Focus on competitive energy solutions and trading.
- FirstEnergy Facilities Services Group, LLC (FSG): Provides facility management and technical services.
- MARBEL Energy Corporation: Involved in oil and natural gas exploration and production alongside its 50% interest in Great Lakes Energy Partners, LLC.
- MYR Group, Inc.: Engaged in electrical construction and infrastructure projects.
- First Communications: Supplies telecommunication services.
Conclusion
Overall, FirstEnergy Corps dual-segment structure allows it to maintain a strong position in both regulated and competitive energy markets. While the Regulated Services segment continues to account for a significant portion of the company’s revenue, the Competitive Services segment is expanding its reach and offering a broader array of services, including energy trading and telecom solutions. These comprehensive offerings cater to the diverse needs of residential and commercial customers, establishing FirstEnergy as a pivotal player in the energy landscape.
Regulated Services Segment
The Regulated Services segment is responsible for the transmission and distribution of electricity across various states. This segment involves the operation and maintenance of regulated domestic energy systems, ensuring that franchise customers receive reliable service.
Key Features of Regulated Services:
1. Transmission and Distribution:
- FirstEnergy operates critical infrastructure to transmit and distribute electricity safely and efficiently to millions of customers. This includes maintaining power lines, substations, and other necessary equipment.
- The significant reduction in outages and prompt restoration efforts contribute to customer satisfaction and dependability in service delivery.
2. Electric Generation Services:
- FirstEnergy provides generation services backed by long-term agreements for customers within its franchise areas who have not opted for alternative generation suppliers.
- Ohio Edison (OE), Cleveland Electric Illuminating (CEI), Toledo Edison (TE), and Penn operate under this framework, procuring generation through power supply arrangements with the Competitive Services segment.
3. Franchise Utilities:
- The Regulated Services segment includes several key operating companies, such as:
- Ohio Edison (OE)
- Cleveland Electric Illuminating (CEI)
- Toledo Edison (TE)
- Pennsylvania Electric Company (Penn)
- Jersey Central Power & Light (JCP&L)
- Metropolitan Edison Company (Met-Ed)
- Pennsylvania Electric Company (Penelec)
- American Transmission System, Inc. (ATSI)
Competitive Services Segment
The Competitive Services segment engages in a variety of energy-related operations, emphasizing market-driven initiatives and competitive energy solutions.
Key Features of Competitive Services:
1. Energy Supply:
- This segment supplies energy to wholesale and retail markets, including electricity and natural gas.
- FirstEnergy Solutions Corp. (FES) plays a notable role in supplying a substantial portion of the provider of last resort (PLR) needs for Metropolitan Edison (Met-Ed) and Pennsylvania Electric (Penelec) through wholesale agreements.
2. Generation:
- Competitive services involve the operation of generation facilities owned by various FirstEnergy companies, such as OE, CEI, TE, and Penn.
- Generating facilities include various types of power generation, whether its traditional fossil fuels, nuclear energy, or renewable sources.
3. Commodity Sales and Trading:
- This segment includes the trading and sourcing of commodity requirements, enabling FirstEnergy to optimize energy acquisition and distribution.
- The corporation actively participates in energy trading markets, helping to balance supply and demand while ensuring competitive pricing for its customers.
4. Wide Range of Applications:
- FirstEnergys competitive services extend beyond basic energy provision; they encompass heating, ventilation, and air-conditioning (HVAC) services, refrigeration, process piping, plumbing, electrical systems, and facility control systems.
- These services are designed to enhance energy efficiency and support the operational needs of businesses and residences.
5. Telecommunications:
- Through its majority-owned subsidiary, First Communications, LLC, the company provides a variety of telecommunication services, including local and long-distance phone services to a significant customer base of over 65,000 clients.
Subsidiary Operations
FirstEnergys subsidiaries play an integral role in delivering products and services within the two segments:
- FirstEnergy Solutions Corp. (FES): Focus on competitive energy solutions and trading.
- FirstEnergy Facilities Services Group, LLC (FSG): Provides facility management and technical services.
- MARBEL Energy Corporation: Involved in oil and natural gas exploration and production alongside its 50% interest in Great Lakes Energy Partners, LLC.
- MYR Group, Inc.: Engaged in electrical construction and infrastructure projects.
- First Communications: Supplies telecommunication services.
Conclusion
Overall, FirstEnergy Corps dual-segment structure allows it to maintain a strong position in both regulated and competitive energy markets. While the Regulated Services segment continues to account for a significant portion of the company’s revenue, the Competitive Services segment is expanding its reach and offering a broader array of services, including energy trading and telecom solutions. These comprehensive offerings cater to the diverse needs of residential and commercial customers, establishing FirstEnergy as a pivotal player in the energy landscape.