FirstEnergy (FE) Enters Settlement with the SEC

FirstEnergy Corp. (NYSE: FE) today announced that it has reached a settlement agreement with the U.S. Securities and Exchange Commission (SEC) to resolve its previously disclosed investigation.

"We are pleased to have reached a resolution with the SEC as we continue to turn a new chapter," said Brian X. Tierney, President and Chief Executive Officer of FirstEnergy. "Our focus today is investing in our regulated electric companies to improve the customer experience and support the energy transition."

FirstEnergy's settlement requires a civil penalty of $100 million. The company's previously disclosed second quarter earnings materials indicated that it had taken a reserve of $100 million in the second quarter of 2024 in anticipation of the agreement with the SEC. A copy of the settlement order can be found in FirstEnergy's Current Report on Form 8-K, which will be filed shortly and will be available on the Investors section of its corporate website.

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 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 www.firstenergycorp.com and on X @FirstEnergyCorp.

You May Also Be Interested In