Put companies on watchlist
FirstEnergy
ISIN: US3379321074
WKN: 910509
About
Company Snapshot
New: Enable Investor Alerts
Be informed about new publications
New: AI Factsheet

Corporate News meets AI! 
Content analysis and summary

FirstEnergy · ISIN: US3379321074 · PR Newswire (ID: 20241011CL29407)
11 October 2024 09:39PM

Mon Power Awarded Reliability Project Grant by U.S. Department of Energy


Project to enhance reliability for more than 3,000 customers in four West Virginia counties

FAIRMONT, W.Va., Oct. 11, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) subsidiary Mon Power has been awarded $5 million in federal funding by the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) for a project that will enhance electric service reliability for customers in parts of rural West Virginia. The funding is part of the Energy Improvements in Rural or Remote Areas (ERA) program established by the Bipartisan Infrastructure Law.

The funding will be applied to help rebuild more than 23 miles of power lines in Pocahontas, Braxton and Clay counties and connect a two-mile alternate power line with a substation in Petersburg, Grant County, resulting in enhanced reliability for more than 3,000 customers. The work will enable Mon Power and its sister company Potomac Edison, which also serves West Virginia, to restore service to customers faster by connecting them to adjacent lines that serve as a backup power feed while repairs are made during an outage.

Jim Myers, Vice President of FirstEnergy's West Virginia Operations: "We're honored to receive this funding, and we look forward to applying it toward system improvements that will make a real difference for thousands of our customers in rural West Virginia, reducing the number and duration of outages they experience."

In May, Mon Power was selected by the U.S. Department of Energy to begin award negotiations. Submitted in 2023, Mon Power's proposal was selected as one of 19 community-led projects across 12 states and 13 tribal nations and communities to receive more than $78 million to develop and deploy sustainable clean energy solutions or expand access to reliable and affordable energy in rural and remote communities across the country.

Mon Power expects to start construction on the project in 2025. Company representatives have engaged with city, county, state and nonprofit agencies about the proposal, providing updates and incorporating community feedback into Mon Power's plans. Mon Power also plans to partner with community-based organizations in the affected counties to address workforce disparity gaps for historically under-resourced communities.

Mon Power serves about 395,000 customers in 34 West Virginia counties. Follow Mon Power at mon-power.com, on X  @MonPowerWV, and on Facebook at facebook.com/MonPowerWV.

Potomac Edison serves about 285,000 customers in seven counties in Maryland and 155,000 customers in the Eastern Panhandle of West Virginia. Follow Potomac Edison at potomacedison.com, on X @PotomacEdison, and on Facebook at facebook.com/PotomacEdison.

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 online at firstenergycorp.com and on X @FirstEnergyCorp.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/mon-power-awarded-reliability-project-grant-by-us-department-of-energy-302274272.html

SOURCE FirstEnergy Corp.

Visual performance / price development - FirstEnergy
Smart analysis and research tools can be found here.
This publication was provided by our content partner PR Newswire
PR Newswire
via PR Newswire - Newsfeed
Cision ©2024
PR Newswire
Contact:
300 S Riverside Plaza, Chicago, Illinois, USA
+001 (0) 888-776-0942