Key Stats
Founded: 1997 (merger of Ohio Edison and Centerior Energy)
Headquarters: Akron, Ohio
CEO: Brian X. Tierney (since June 2023)
Employees: Approximately 12,000
Stock Symbol: NYSE: FE
FirstEnergy Corp. is an electric utility company headquartered in Akron, Ohio. The company operates regulated electric distribution and transmission networks serving approximately six million customers across Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York.
FirstEnergy’s 10 regulated distribution companies manage more than 269,000 miles of distribution lines, making it one of the largest investor-owned electric systems in the United States. The company’s transmission subsidiaries operate approximately 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions.
The company focuses entirely on regulated utility operations, having divested its competitive generation assets in recent years. FirstEnergy generates, transmits, and distributes electricity through its network of subsidiary companies.
FirstEnergy History
1930
Ohio Edison Formed
Ohio Edison Company is created as a holding company from the consolidation of approximately 200 electric companies. By 1950, it operates two utility companies: Pennsylvania Power and Ohio Edison.
1986
Centerior Energy Formed
Centerior Energy Corporation is created through the merger of Cleveland Electric Illuminating Company and Toledo Edison Company, consolidating utility services in northeastern Ohio.
1997
FirstEnergy Created
FirstEnergy Corp. is formed through the merger of Ohio Edison Company and Centerior Energy Corporation. The new holding company combines Ohio Edison, Pennsylvania Power, Cleveland Electric Illuminating, and Toledo Edison.
2001
GPU Merger
FirstEnergy merges with GPU, Inc., adding Jersey Central Power & Light Company, Pennsylvania Electric Company (Penelec), and Metropolitan Edison Company (Met-Ed) to its portfolio.
2011
Allegheny Energy Merger
FirstEnergy completes its merger with Allegheny Energy, a Greensburg, Pennsylvania-based company. This adds West Penn Power, Mon Power, and Potomac Edison to FirstEnergy’s utility subsidiaries.
2018
Generation Exit
FirstEnergy’s competitive generation subsidiary, FirstEnergy Solutions, files for bankruptcy, beginning the company’s transition to a fully regulated utility business model.
2024
Energize365 Launch
FirstEnergy launches Energize365, a multi-billion dollar capital investment program focused on grid reliability, resilience, and modernization across its service territory.
Predecessor Companies
Ohio Edison
Formed in 1930 from the consolidation of approximately 200 electric companies. By 1950, Ohio Edison operated as a holding company with two utility subsidiaries: Pennsylvania Power and Ohio Edison. The company served customers across northern and central Ohio and western Pennsylvania.
Centerior Energy
Created in 1986 through the merger of Cleveland Electric Illuminating Company and Toledo Edison Company. Centerior served the greater Cleveland and Toledo metropolitan areas in northeastern Ohio until its 1997 merger with Ohio Edison to form FirstEnergy.
FirstEnergy Acquisitions
FirstEnergy has grown primarily through mergers with other regional utility companies. The 1997 combination of Ohio Edison and Centerior Energy created the foundation for the company, bringing together four operating utilities serving Ohio and Pennsylvania.
The 2001 merger with GPU, Inc. significantly expanded FirstEnergy’s footprint into the Mid-Atlantic region. GPU brought three additional utilities to FirstEnergy: Jersey Central Power & Light (serving New Jersey), Pennsylvania Electric Company (Penelec), and Metropolitan Edison Company (Met-Ed). Both Penelec and Met-Ed serve Pennsylvania customers.
FirstEnergy’s 2011 merger with Allegheny Energy added three more distribution companies: West Penn Power (Pennsylvania), Mon Power (West Virginia), and Potomac Edison (Maryland and West Virginia). This acquisition strengthened FirstEnergy’s presence in Pennsylvania and extended its service territory into West Virginia and Maryland.
Through these three major transactions, FirstEnergy assembled a network of 10 regulated distribution companies serving customers across six states. The company has since focused on its regulated utility operations rather than pursuing additional acquisitions.
FirstEnergy Subsidiaries
FirstEnergy operates through 10 regulated distribution companies:
FirstEnergy Revenue
FirstEnergy generated $13.47 billion in revenue for fiscal year 2024. The company’s revenue comes primarily from its regulated distribution and transmission operations, with rate adjustments and customer growth driving year-over-year changes.
FirstEnergy Marketcap
FirstEnergy has a market capitalization of approximately $29 billion as of February 2026. The company’s valuation reflects its position as a regulated utility with stable cash flows from its distribution and transmission operations.
FirstEnergy Competitors
FirstEnergy competes with other investor-owned electric utilities in the Midwest and Mid-Atlantic regions. Competition occurs primarily in wholesale power markets and for regulatory approval of capital investments and rate structures.
| Company | Headquarters | Service Area |
|---|---|---|
| American Electric Power | Columbus, Ohio | 11 states from Texas to Virginia |
| Duke Energy | Charlotte, North Carolina | Southeast and Midwest U.S. |
| Dominion Energy | Richmond, Virginia | Virginia, North Carolina, South Carolina |
| Southern Company | Atlanta, Georgia | Southeastern U.S. |
| Exelon | Chicago, Illinois | Illinois, Pennsylvania, Maryland, Delaware |
| PPL Corporation | Allentown, Pennsylvania | Pennsylvania, Kentucky, Rhode Island |
| PSEG | Newark, New Jersey | New Jersey |
| Consolidated Edison | New York, New York | New York City metropolitan area |
| NextEra Energy | Juno Beach, Florida | Florida, renewable energy nationwide |
| CenterPoint Energy | Houston, Texas | Texas, Indiana, Ohio, Minnesota |
FAQs
What states does FirstEnergy serve?
FirstEnergy serves customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York through its 10 regulated distribution companies.
How many customers does FirstEnergy have?
FirstEnergy serves approximately six million customers across its service territory in the Midwest and Mid-Atlantic regions of the United States.
Who is the CEO of FirstEnergy?
Brian X. Tierney became President and CEO of FirstEnergy in June 2023. He was named Board Chair in January 2025. He previously worked at American Electric Power and Blackstone.
When was FirstEnergy founded?
FirstEnergy was formed in 1997 through the merger of Ohio Edison Company and Centerior Energy Corporation. Its predecessor companies date back to 1930.
Is FirstEnergy a regulated utility?
Yes, FirstEnergy operates as a regulated electric utility. The company exited the competitive generation business and now focuses on regulated distribution and transmission operations.
