Latest news with #EnergizeNJ
Yahoo
25-06-2025
- Business
- Yahoo
FirstEnergy Benefits From Investments & Infrastructure Upgrades
FirstEnergy Corporation's FE ongoing investments should increase grid reliability and enable it to serve customers efficiently. The company's initiative to further strengthen transmission and distribution operations should boost its performance. However, this Zacks Rank #3 (Hold) company faces risks related to delays in the base rate request approval and seasonal factors. FirstEnergy is benefiting from better economic conditions and increased demand from commercial and industrial organizations. The company is set for data center development across its footprint. FE's 2025-2029 plan includes 2.6 gigawatts of active or contracted demand, with more in the pipeline that would be incremental to its base investment company's 'Energize365' is a multi-year grid evolution platform, focused on enhancing customer experience while maintaining its strong affordability position with rates at or below its in-state peers. With planned investments of $28 billion between 2025 and 2029, FE is set to install advanced equipment and technologies that will strengthen and modernize its transmission and distribution April 2025, JCP&L got approval for its EnergizeNJ infrastructure investment program. EnergizeNJ is part of the Energize365 program. The EnergizeNJ program includes more than $20.4 million in a Grid Modernization initiative that will replace solid fuses along power lines with TripSaver II devices. These initiatives should further help upgrade electric grid and enhance service reliability. FirstEnergy cannot guarantee the approval of any base rate request, whether in whole or in part. Any denial of or delay in base rate request approval could restrict the company from fully recovering its service costs, which might adversely impact its operations, cash flows and financial sale of electric power is generally a seasonal business, and weather patterns can have a material impact on FirstEnergy's Regulated Distribution operating results. Demand for electricity in the service territories historically peaks during the summer and winter months. Mild weather conditions may result in reduced power sales and, consequently, lower revenues, earnings and cash flow. In the past three months, shares of the company have risen 5.3% compared with the industry's 3.3% growth. Image Source: Zacks Investment Research Some better-ranked stocks from the same industry are Portland General Electric POR, CenterPoint Energy CNP and OGE Energy OGE, each holding a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks long-term (three to five years) earnings growth rate is 3.44%. The Zacks Consensus Estimate for 2025 earnings per share (EPS) is pinned at $3.21, indicating year-over-year growth of 2.2%.CNP's long-term earnings growth rate is 7.76%. The Zacks Consensus Estimate for 2025 EPS is pegged at $1.75, indicating a year-over-year improvement of 8%.OGE's long-term earnings growth rate is 6.32%. The company delivered an average earnings surprise of 4.6% in the last four quarters. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FirstEnergy Corporation (FE) : Free Stock Analysis Report OGE Energy Corporation (OGE) : Free Stock Analysis Report CenterPoint Energy, Inc. (CNP) : Free Stock Analysis Report Portland General Electric Company (POR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Malaysian Reserve
25-04-2025
- Business
- Malaysian Reserve
JCP&L's EnergizeNJ Infrastructure Upgrade Program Approved by New Jersey Board of Public Utilities
More than $202 million in investments planned to upgrade electric grid HOLMDEL, N.J., April 24, 2025 /PRNewswire/ — Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), is set to expand smart grid technology across its northern and central New Jersey service territory following approval from the New Jersey Board of Public Utilities (BPU) for its EnergizeNJ infrastructure investment program (IIP). In accordance with a BPU-approved agreement, JCP&L will invest more than $202.5 million over a three and a half year period starting July 1 to upgrade the company's neighborhood electric distribution grid with an increase in automated and remotely controlled devices. Doug Mokoid, FirstEnergy's President, New Jersey: 'JCP&L is committed to making smart, responsible investments in our infrastructure that enhance the reliability our customers expect and deserve as well as the safety of our crews in the field. EnergizeNJ will allow us to reduce the length and number of customers affected by outage events and protect our line workers who are on the front lines of restoring power.' The EnergizeNJ program includes: More than $20.4 million in a Grid Modernization initiative that will replace solid fuses along power lines with TripSaver II devices, which can sense temporary abnormalities along power lines, such as a tree branch contacting power lines, and automatically reenergize the line after the condition has passed, as well as remotely controlled devices that allow for faster isolation of damage. A System Resiliency program that will invest more than $128.9 million to optimize circuits (or groups of power lines) for added operational flexibility and reliability, install remotely controlled circuit ties that can move customers to neighboring circuits during outage events and modernize devices along power lines. Substation Modernization programs designed to upgrade protection relays in substations and install newer, more modern devices that will provide enhanced data on physical substation equipment to operators at JCP&L's control centers. JCP&L will make additional investments of at least $132 million in matching projects during the program period. These upgrades include more than $18 million to replace vital components at coastal substations susceptible to the effects of salt and nearly $9 million for new mobile substations, which can be moved throughout JCP&L's territory to allow for necessary maintenance or in emergency outage situations. To further minimize the impact of these upgrades on customer bills, JCP&L will only charge for work as it is completed, resulting in five incremental bill impacts over the life of the program. The total bill impact for a typical JCP&L residential customer, using 777 kWh per month and currently paying $136.37, will be $0.86, or 0.6% per month. As part of the settlement, JCP&L will seek potential federal funding under the Federal Infrastructure and Jobs Act of 2021. Any federal funds awarded to the company will be credited back to customers to offset bill impacts. EnergizeNJ is part of Energize365, a multi-year grid evolution program focused on transmission and distribution investments that will deliver the power FirstEnergy's customers depend on today while also meeting the challenges of tomorrow. With planned investments of $28 billion between 2025 and 2029, the program is creating a smarter, more secure grid that will meet and exceed reliability targets and accommodate electric vehicles, the electrification of homes and businesses and clean energy sources. JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on X @JCP_L, on Facebook at or online at FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on X @FirstEnergyCorp or online at
