FE · 10-Q · 2026Q1

FIRSTENERGY CORP

Filed 2026-04-28 · Utilities

Ranked Events

• Operating Cash Flow TrendsImportance 96 · Surprise 100
  Net cash provided from operating activities declined to $148 million in Q1 2026 from $637 million in Q1 2025, a decrease of $489 million driven by PUCO-approved restitution/refunds to Ohio customers, higher storm…
• Regulatory Assets and DeferralsImportance 91 · Surprise 92
  FirstEnergy reported regulatory assets of $1,092 million (March 31, 2026) versus $829 million (Dec 31, 2025) and regulatory liabilities of $877 million versus $1,185 million for the same dates, reflecting material…
• Offshore Wind Transmission TerminationImportance 90 · Surprise 84
  JCP&L submitted a proposal accepted in part by the NJBPU to build offshore wind transmission infrastructure that included approximately $723 million in investments and projected a 10.2% ROE and an option for up to a…
• Financing Activity and Debt IssuancesImportance 89 · Surprise 82
  Net cash provided from financing activities was $1,205 million in Q1 2026 versus $465 million in Q1 2025, driven by a mix of new senior unsecured note issuances and repayments. FE PA issued $300 million (4.15%, 2028)…
• Energize365 Capital PlanImportance 86 · Surprise 84
  FirstEnergy announced its Energize365 five-year investment plan of $36 billion for the 2026–2030 period (approximately 25% higher than the prior 2025–2029 plan). The plan allocates system‑wide capital investments…
• Integrated Operating Expense DriversImportance 78 · Surprise 74
  Integrated segment total operating expenses increased $329 million in Q1 2026 versus Q1 2025, driven by a $191 million increase in purchased power costs and a $335 million increase in other operating expenses. Other…
• Liquidity and Cash PositionImportance 76 · Surprise 82
  FirstEnergy had a net deficit in working capital of approximately $2.8 billion as of March 31, 2026, primarily due to current maturities of long-term debt, accounts payable, short-term borrowings and accrued…
• WV Combined Cycle & Solar CPCNImportance 75 · Surprise 60
  On February 13, 2026 MP and PE filed a Certificate of Public Convenience and Necessity (CPCN) to construct and operate a 1,200 MW combined cycle gas turbine plant and 70 MWs of solar generation capacity, with an…
• JCP&L Offshore Transmission and NJBPU ActionsImportance 74 · Surprise 58
  JCP&L submitted a proposal accepted in part by the NJBPU on October 26, 2022 that included approximately $723 million of investments to build and upgrade transmission infrastructure to connect offshore wind to New…
• Storm Cost RecoveryImportance 71 · Surprise 82
  Other operating expenses increased in Q1 2026 largely due to storm restoration costs totaling $81 million versus Q1 2025. Of that $81 million, $74 million were deferred for future recovery, indicating regulatory…
• Investing Activities / Capital InvestmentsImportance 71 · Surprise 48
  Net cash used for investing activities was $1,372 million in the first three months of 2026, an increase of $279 million versus $1,093 million in Q1 2025, primarily due to higher capital investments. The investing…
• PJM RTEP / Transmission AwardsImportance 71 · Surprise 60
  FirstEnergy (through FET and related joint ventures) has entered into operating agreements and been awarded transmission projects via PJM’s RTEP Long‑Term Proposal windows. Valley Link (FET, DominionHV and Transource)…
• Acquisition / Partnership / DivestitureImportance 71 · Surprise 60
  On February 21, 2025, FET, DominionHV and Transource entered into the Valley Link Operating Agreement to develop PJM-awarded transmission projects with total estimated project costs of approximately $3 billion and…
• Guarantees and Collateral ObligationsImportance 70 · Surprise 24
  FirstEnergy explains that various contracts for capacity, energy, fuel and emission allowances require the posting of collateral, with thresholds contingent on subsidiaries’ credit ratings, and that collateral may be…
• Offshore Wind Transmission InvestmentImportance 69 · Surprise 50
  JCP&L’s proposal accepted in part by the NJBPU on October 26, 2022 included approximately $723 million of investments to build and upgrade transmission infrastructure to connect offshore wind resources, with a…
• West Virginia Generation InvestmentImportance 65 · Surprise 60
  MP and PE filed an integrated resource plan on October 1, 2025 that proposes near-term market capacity purchases and the addition of 70 MWs of solar by 2028 and 1,200 MWs of natural gas combined cycle generation by…
• DPA and Criminal ProceedingsImportance 65 · Surprise 60
  On July 21, 2021 FirstEnergy entered into a three-year Deferred Prosecution Agreement (DPA) with the U.S. Attorney’s Office resolving the company’s criminal exposure subject to court proceedings. Under the DPA…
• Credit Facilities / Interest ExposureImportance 64 · Surprise 42
  On October 27, 2025 FirstEnergy and many subsidiaries entered into amended credit facilities that removed a 10 bps credit spread adjustment, permitted a one-week interest period based on daily simple SOFR for term…
• Pension Funding and RisksImportance 62 · Surprise 50
  FirstEnergy discloses pension plan asset allocations (approximately 30% equities, 19% fixed income, 24% private debt/equity and other allocations) and that it does not expect a required pension contribution until 2027,…
• FE Convertible Notes IssuanceImportance 59 · Surprise 60
  FirstEnergy discloses its issuance and active management of convertible and unsecured note financing: FE issued $1.5 billion of 2026 Convertible Notes in May 2023 (4.00%), repurchased ~$1.2 billion of those in June…

Revenue by Product (in millions)