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Mon Power and Potomac Edison propose an Environmental Compliance Program for Power Plants

Mon Power and Potomac Edison propose an Environmental Compliance Program for Power Plants

FirstEnergy Corp. Logo (PRNewsfoto/FirstEnergy Corp.)

Fort Martin and Harrison plants will continue to operate until 2035, 2040, respectively, after upgrades

FAIRMONT, W.Va., Dec. 17, 2021/PRNewswire/ – Mon Power and Potomac Edison are subsidiaries of FirstEnergy Corp. NYSE: FE. They have applied to the Public Service Commission. West VirginiaApproval to conduct a multiyear environmental compliance program at Fort Martin Power Station and the two regulated power plants of the companies. Maidsville Harrison Power StationIn Haywood. The approximate $142 millionThe program would include wastewater treatment projects at new plants to meet the U.S. Environmental Protection Agency’s effluent limit guideline (ELG).

FirstEnergy Corp. Logo (PRNewsfoto/FirstEnergy Corp.)

FirstEnergy Corp. Logo (PRNewsfoto/FirstEnergy Corp.)

If approved, the companies would complete their work by the end 2025, reducing the environmental impacts of the two facilities. Fort Martin and Harrison will continue to be operated beyond the 2025 compliance deadline until their expected retirement dates of 2035, 2040, respectively.

“The proposed upgrades will create jobs locally and allow us continue to operate our plants in the next decade for our customers’ benefit. West VirginiaJim MyersPresident of West VirginiaFirstEnergy’s operations.

The ratepayer surcharge would pay for the cost of the improvements. It would begin at 51 centsFor the average residential customer, it is $18 per month West VirginiaWhen the first projects are completed in 2024.

Fort Martin and Harrison were put into service in late 1960s and early 70s. These plants have a history of a life span of around 60 years. The commission would have to review and approve the retirement of either facility.

Mon Power and Potomac Edison are working together to find the most cost-effective and reliable ways to replace the plant’s significant capacity. The two plants produce 3,080 megawatts each.

FirstEnergy made an announcement last year about a Carbon neutrality pledgeBy 2050. The company communicated its intention to carefully transition its generation fleet as part of its comprehensive climate strategy.

Mon Power and Potomac Edison submitted a request to the Public Service Commission of West VirginiaTo build five utility-scale buildings Solar energy projectsAll over the companies West VirginiaService territory that could generate 50 megawatts clean, renewable energy.

Mon Power serves approximately 395,000 customers in 34 West Virginia counties. Follow Mon Power www.mon-power.comTwitter: @MonPowerWVYou can also find us on Facebook www.facebook.com/MonPowerWV.

Potomac Edison serves approximately 275,000 customers in seven states. Maryland151,000 customers in Eastern Panhandle of West Virginia. Follow Potomac Edison www.potomacedison.comOn Twitter,? @PotomacEdisonYou can also find us on Facebook www.facebook.com/PotomacEdison.

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FirstEnergy is committed t safety, reliability, operational excellence and integrity. Its 10 electric distribution businesses make up one of the largest investor-owned electric systems in the country, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland New York. The transmission subsidiaries of the company operate approximately 24,000 miles worth of transmission lines connecting the Midwest and Mid-Atlantic areas. Follow FirstEnergy on the internet at www.firstenergycorp.comTwitter @FirstEnergyCorp.

Forward-Looking Statements:This news release contains forward-looking information based upon information currently available to management. These statements are subject to risks and uncertainties. Readers are advised not to place undue trust in these forward-looking statements. These statements may include statements regarding management’s intentions, beliefs, and current expectations. These statements usually contain the following words: “anticipate”,” “potential,”,”expect,” forecast,” target,”,”target,”,”intend,”believe,”project,”estimate,” plan,” and similar words. Forward-looking statements are based on assumptions, known and unknown risk factors, uncertainties, and other factors that could cause actual results, performance, or achievements to differ materially from those expressed or implied in such forward-looking statement. These statements may include: the completion of transactions contemplated under the agreements governing FET’s minority interest and common stock issuance on the expected terms and timing, or at all; the potential liabilities and increased costs as a result of governmental investigations and agreements, and any unanticipated developments, including compliance with July 21, 2021The U.S. Attorney’s Office in the Southern District of OhioThe risks and uncertainties that come with government investigations into House Bill 6, as passed by Ohio’s133rd General Assembly, as well as related matters, including potential adverse consequences on federal or State regulatory matters, including matters relating to rates; noncompliance with credit facility debt covenants by the company; the risks associated with litigation, arbitration mediation and similar proceedings; legislative developments and regulatory developments, including but not limited, matters related rates, compliance, enforcement activity; and the final approbation of the Public Utilities Commission. Ohio(“PUCO”) is the Unanimous Stipulation and Recommendation filed jointly by the Company and eleven other parties to the PUCO. November 1, 2021; the ability of the company to realize its FE Forward initiative and its other financial goals. This includes, but is not limited, to maintaining financial flexibility, overcoming ongoing uncertainties and challenges, executing the company’s transmission and distributor investment plans, greenhouse gases reduction goals, controlling cost, increasing earnings, controlling costs, and improving its credit metrics. Credit rating agencies may take actions that could adversely affect the company’s access to capital and liquidity. The amount of dividends that FirstEnergy declares on its common stock may vary from previous periods due to the circumstances considered by FirstEnergy’s Board of Directors at time of actual declarations. The assigning rating agency can revise or withdraw a security rating at any time. A security rating does not constitute a recommendation to purchase or hold securities. Each rating should be evaluated separately from any other rating. These forward-looking statements must be evaluated separately from any other rating. This review of factors should not be considered complete. Management is not able to predict all factors. They are also unable to assess the impact of any factor on FirstEnergy or determine the extent to which any factor or combination could cause results to differ materially. FirstEnergy disclaims any obligation to revise or update any forward-looking statements, except as required under law.

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