FirstEnergy Corp
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Author: Kaitlyn Short
LAST UPDATED: June 27th, 2019
FirstEnergy Corp was founded in 1997 and is headquartered in Akron, Ohio. It is a publicly traded diversified energy company with subsidiaries and affiliates involved in the generation, transmission, and distribution of electricity. There are also subsidiaries that deal with energy management and other energy-related services. FirstEnergy is made up of ten electric utility operating companies that comprise the United States' largest investor-owned utility. They currently service over six million customers spanning a 65,000-square-mile area. Back in November 2016, FirstEnergy left the competitive power business and became a fully-regulated company with some generating units being sold off and other being shut down. They employ over 15,500 people and service four different states.
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The Good
- Energy usage tools
- Competitive service charges
- Free quote
Energy Usage Tools
With the Power Management platform, FirstEnergy customers can take advantage of peak load and energy information to reduce monthly costs. Pricing during on-peak hours is typically higher than off-peak hours. You can save on your energy bill by reducing the energy load within your home or facility during peak times. However, knowing when these peak times are is not information that is typically easy to access. With FirstEnergy, you receive access to insights and tools that monitor your energy usage and help you make efficient decision that manage your peak load. There is an online dashboard (PMP) that provides you with the actionable data needed to make more informed operational decisions and cut costs. Business that will be able to take advantage of the Power Management platform include: commercial buildings, hospitals, manufacturing, process industries, retail, schools, universities, and wastewater facilities.Competitive Service Charges
Most energy providers require some sort of monthly service charge and late fees for customers that do not pay their bill on time. These costs can add a sizable dollar amount to your bottom line every month; however, with FirstEnergy, that is not the case. FirstEnergy only charges $5 each month for their regular "maintenance and service." Additionally, customers that do not pay their bill on time will only be charged an extra 1.5%. These rates are extremely competitive compared to other providers operating in the same industry.Free Quote
Requesting a free , no-obligation quote is made simple through the FirstEnergy online platform. Whether you are a home owner or you own a business facility, users will simply provide a basic level of contact information and a representative will reach out with a quote. This quote will provide more detailed information regarding rates and possible contract terms.The Bad
- No contract information
- Undisclosed rates
- Availability
No Contract Information
It is not uncommon for energy providers to require a contract from their customers. These contracts range from month-to-month platforms to multiple year commitments. That being said, FirstEnergy does not publicly provide any information regarding contracts, if they are required at all. Those considering FirstEnergy should inquire about these long-term commitments prior to enrollment to make sure they do not get locked into something that they do not want.Undisclosed Rates
In addition to not providing any information regarding contracts, FirstEnergy also does not release their rate information. This makes the comparison and research process for prospective clients difficult. There are no variable or fixed rates for either electricity or gas. This information may be released to you upon enrollment in the FirstEnergy service.Availability
Another drawback to the FirstEnergy platform is the fact that they do not service much of the United States. Currently, FirstEnergy only operates in the following states: Ohio, Pennsylvania, New Jersey, and Maryland. While other subsidiaries may take on additional states, this specific platform does not. This eliminates a large number of customers searching for a utility provider.The Bottom Line
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