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Ohio Edison Power Upgrades Will Support Manufacturing and Boost Economic Growth in Clark County

1. FirstEnergy's Ohio Edison invests in grid upgrades for Clark County power reliability. 2. Upgrades expected to enhance service for 2,700 customers and local manufacturers. 3. Investment supports economic growth, potentially creating hundreds of local jobs. 4. Energize365 program includes $28 billion investment for future energy needs. 5. Ohio Edison recognized as 2024 Business Customer Champion by Escalent.

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FAQ

Why Bullish?

The grid upgrades and economic development projects may lead to increased revenue for FE. Historical parallels can be drawn to similar infrastructure improvements that resulted in growth in electricity demand and stock performance.

How important is it?

The article highlights strategic investments that are likely to strengthen FirstEnergy's position in the market and improve customer satisfaction.

Why Long Term?

While immediate effects include service enhancements, the overall economic impact and job creation will take time to fully materialize, aligning with long-term growth strategies.

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, /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) electric company Ohio Edison is investing in grid upgrades to help prevent and minimize the impact of power outages in Clark County and meet the projected energy needs of industrial facilities in the area.The work is expected to enhance reliability for nearly 2,700 Ohio Edison customers in the Springfield area while enabling two local manufacturers to expand their businesses, potentially creating hundreds of local jobs. Ohio Edison is investing in grid upgrades to help prevent and minimize the impact of power outages in Clark County and meet the projected energy needs of industrial facilities in the area. Torrence Hinton, FirstEnergy's Ohio President: "This is an exciting time for economic development in our region as more and more large companies are realizing what a great place central Ohio is to start or expand their business. We're proud to invest in work that helps advance business development while strengthening our system to meet the growing demand for safe and reliable power for many years to come." The work in Clark County includes rebuilding parts of existing power lines with larger diameter wire capable of carrying more electricity to keep power flowing safely and reliably during periods of high demand. The upgrades also include installation of equipment that will help ensure a constant, safe flow of high-voltage electricity into manufacturing facilities and nearby homes and businesses.Customers in the area will also benefit from the installation of new automated reclosing devices to help limit the frequency, duration and extent of service interruptions. The devices: Work like a circuit breaker in a home that shuts off power when trouble occurs, with the added benefit of automatically reenergizing a substation or power line within seconds for certain types of outages to keep power safely flowing to customers. Allow crews to quickly pinpoint the location of the issue and help utility personnel better understand the cause of the outage to support timely power restoration. Ohio Edison, along with FirstEnergy sister company The Illuminating Company, was recently named a 2024 Business Customer Champion in a national study conducted by Escalent, a leading data analytics and advisory firm with extensive expertise in the energy and utility industry. The designation underscores the companies' dedication to fostering strong, engaged relationships with business customers throughout their Ohio service areas.This work 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.Ohio Edison serves more than 1 million customers across 34 Ohio counties. Follow Ohio Edison on Twitter @OhioEdison and on Facebook at www.facebook.com/OhioEdison.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 more than 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.SOURCE FirstEnergy Corp. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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