10-K/APeriod: FY2004

FIRSTENERGY CORP Annual Report (Amendment), Year Ended Dec 31, 2004

Filed May 3, 2005For Securities:FE

Summary

This 2005 10-K filing amendment primarily clarifies property interests, specifically focusing on leased versus owned generation units for The Cleveland Electric Illuminating Company (CEI) and The Toledo Edison Company (TE). Investors should note the significant portion of generating capacity that is leased, which can impact operational flexibility and financial obligations. The report details the company's extensive transmission and distribution infrastructure, highlighting the robust network that supports its service territories and operations. While this amendment doesn't introduce new financial figures, it provides crucial details on asset utilization and operational structure that underpin the company's ability to serve its customers and manage its power generation. Key takeaways from the property disclosures include the breakdown of various generating unit types (coal, nuclear, oil/gas) and the specific ownership percentages held by FirstEnergy's subsidiaries. The interconnectedness of its transmission facilities within the PJM RTO is also noted, indicating participation in a broader regional power market. Understanding these asset details is vital for assessing the company's operational capacity, potential risks associated with leased assets, and its strategic positioning within the energy grid.

Key Highlights

  • 1Amendment corrects footnote references regarding leased interests in generating units by CEI and TE.
  • 2The report details FirstEnergy's ownership and leasehold interests across various coal, nuclear, and oil/gas-fired generating units.
  • 3Significant portions of generating capacity are leased, as indicated by the percentage breakdowns for units like Bruce Mansfield and Beaver Valley.
  • 4FirstEnergy operates an extensive transmission system (14,978 pole miles) and distribution systems (114,177 miles) across its service territories.
  • 5The company's transmission facilities are interconnected and integrated into the PJM RTO, highlighting regional operational integration.
  • 6The filing provides detailed substation capacity and transformer capacity figures across its various operating companies.

Frequently Asked Questions

This filing is an amendment to the 2005 10-K to correct errors in footnote references concerning the leased interests of The Cleveland Electric Illuminating Company (CEI) and The Toledo Edison Company (TE) in certain generating units.

Leased generating units represent capacity that FirstEnergy does not fully own, which can have implications for operational control, maintenance costs, and long-term financial commitments. Understanding the extent of leased versus owned assets is important for assessing the company's capital structure and operational flexibility.

FirstEnergy operates a substantial network, including approximately 14,978 pole miles of transmission lines and 114,177 miles of distribution lines. The company also owns substations with a total installed transformer capacity of 91,117,000 kilovolt-amperes.

No, this specific filing is an amendment focused on clarifying property details, particularly ownership and lease interests in generating assets. It does not introduce new financial performance figures or update the financial statements themselves.