Joint Development of Transmission Projects in Virginia, West Virginia, and Maryland

Companies will jointly develop transmission projects in Virginia, West Virginia and Maryland to reliably serve the region's growing power demand.

Needed transmission reliability investments will also increase the grid's resiliency and capacity to support new generation.

Projects are in the early stages of development, with more detailed plans for permitting, regulatory approvals and public participation expected in the coming months.

AKRON, Ohio, Feb. 27, 2025 /PRNewswire/ -- Regional grid operator PJM Interconnection has selected several electric transmission projects that will be jointly developed by FirstEnergy Transmission LLC, Dominion Energy and American Electric Power Company through its Transource Energy affiliate across multiple states within the PJM footprint.

The companies jointly proposed the projects through PJM's Regional Transmission Expansion Plan (RTEP) Open Window process in September 2024, and yesterday they were awarded by the PJM Board of Managers. PJM is the regional transmission organization that coordinates the transportation of wholesale electricity across the 13-state region that includes Virginia, West Virginia and Maryland.

The companies will develop the projects through the recently formed Valley Link Transmission Company LLC joint venture. The innovative collaboration will leverage the companies' collective expertise and resources to deliver comprehensive and cost-effective solutions that address the region's growing power needs.

After a lengthy review process, PJM determined the joint venture's proposed projects, among others, best met the reliability needs of the grid. The projects will support economic development while ensuring every customer has the energy they rely on every day.

“By leveraging the collective expertise of our three companies, we have the opportunity to build robust transmission facilities that will address documented reliability concerns on the regional power grid,” said Mark Mroczynski, President, Transmission at FirstEnergy. “While we're in the very early stages, we look forward to engaging with communities and stakeholders in the months ahead to discuss the need for these projects and listen to the ideas and concerns of our customers.”

“These projects are essential for the economic vitality of our region, the reliability of our grid and the everyday lives of our customers,” said Ed Baine, President of Utility Operations and Dominion Energy Virginia. “These are comprehensive solutions needed to reliably serve the growing needs of our customers, and we thank PJM for their thorough review.”

“AEP has decades of experience with projects of the size and scope needed to serve the unprecedented growth in energy demand,” said Bob Bradish, Senior Vice President, Regulated Infrastructure Investment Planning for AEP. “This joint venture is a unique solution to addressing the needs of our customers and ensuring long-term reliability and continued economic growth opportunities in the region.”

Project Overview

The selected projects include:

• Transmission projects in the early stages of development.
• Plans for permitting and regulatory approvals are yet to be defined.
• Collaboration with local residents and stakeholders at every stage of the process.

The companies are committed to collaborating with residents, local governments and other stakeholders in the project communities at every stage of the process. Community engagement is crucial for making informed decisions that reduce or prevent potential impacts.

In addition to the jointly developed projects, PJM selected several other transmission projects that will be developed individually by each of the three companies in their service areas.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE), 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, which include FirstEnergy Transmission LLC (FET), operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions.

About Dominion Energy

Dominion Energy (NYSE: D), headquartered in Richmond, Virginia, provides regulated electricity service to 3.6 million homes and businesses in Virginia, North Carolina, and South Carolina, and regulated natural gas service to 500,000 customers in South Carolina.

About AEP

Our team at American Electric Power (Nasdaq: AEP) is committed to improving our customers' lives with reliable, affordable power.

Forward-Looking Statements

This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements.

SOURCE FirstEnergy Corp.