| Business Summary | | FirstEnergy
Corp.
focuses
on
holding,
directly
or
indirectly,
all
of
the
outstanding
common
stock
of
its
principal
electric
utility
operating
subsidiaries,
Ohio
Edison
Company
(OE),
The
Cleveland
Electric
Illuminating
Company
(CEI),
Pennsylvania
Power
Company
(Penn)
and
The
Toledo
Edison
Company
(TE).
OE
owns
property
and
does
business
as
an
electric
public
utility
in
Ohio.
OE
owns
all
of
the
outstanding
common
stock
of
Penn,
which
furnishes
electric
service
to
communities
in
a
1,500-square-mile-area
of
western
Pennsylvania.
CEI
and
TE
do
business
as
electric
public
utilities
in
that
state.
TE
also
has
ownership
interests
in
certain
generating
facilities
in
Pennsylvania.
On
September
1,
2000,
the
companies
transferred
their
transmission
assets
to
the
FirstEnergy's
wholly
owned
subsidiary,
American
Transmission
Systems,
Inc.
(ATSI).
ATSI
owns
and
operates
the
Company's
major
high-voltage
transmission
facilities
and
has
interconnections
with
other
regional
utilities. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FE
is
a
holding
company
whose
subsidiaries,
Ohio
Edison,
The
Illuminating
Company,
Pennsylvania
Power
and
Toledo
Edison,
provide
electric
utility
service
to
2.2
million
customers
in
OH
and
PA.
FE
also
provides
energy-related
products
and
services.
For
the
three
months
ended
3/31/01,
total
revenues
rose
23%
to
$1.99
billion.
Net
income
before
acct.
change
fell
25%
to
$106.2
million.
Results
reflect
expanded
gas
sales,
offset
by
higher
fuel
and
purchased
power
expenses. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
after
tax
earnings
were
146,000. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| H. Peter Burg, 54 Chairman,
CEO | $4.4M | Anthony Alexander, 49 Pres | 2.9M | A. Garfield, 62 Sr.
VP | 467K | John Gill, 64 Sr.
VP - Admin. Services | 596K | Richard Marsh, 50 VP
and CFO | 461K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|