8-KOther EventsExhibits & Filings

FIRSTENERGY CORP 8-K Report, Corporate Update (Sep 9, 2005)

Filed September 9, 2005For Securities:FE

Summary

FirstEnergy Corp. (FE) announced on September 9, 2005, that its Ohio-based electric utility subsidiaries will file an application with the Public Utilities Commission of Ohio (PUCO). This application seeks to supplement their current Rate Stabilization Plan (RSP) with a new Rate Certainty Plan (RCP). The proposed RCP aims to provide greater rate certainty for customers and the company, with detailed comparisons of estimated amortization of regulatory transition costs and deferred shopping incentive balances provided for the periods 2006 through 2010. Investors should review the attached Press Release and Letter to the Investment Community for more specifics on the potential financial implications of this regulatory filing.

Key Highlights

  • 1FirstEnergy's Ohio electric utilities plan to file for a new Rate Certainty Plan (RCP) with the PUCO.
  • 2The RCP is intended to supplement the existing Rate Stabilization Plan (RSP).
  • 3The filing aims to provide greater rate certainty for customers and the company.
  • 4A comparison schedule is provided detailing estimated amortization of regulatory transition costs and deferred shopping incentive balances under RSP vs. RCP for 2006-2010.
  • 5The information is presented through a press release and a letter to the investment community.
  • 6The company cautions that actual results may differ materially due to various risks and uncertainties, including competition, economic conditions, regulatory changes, and legal proceedings.

Frequently Asked Questions

The Rate Certainty Plan (RCP) is proposed to supplement the existing Rate Stabilization Plan (RSP) and aims to provide greater certainty regarding electricity rates for both FirstEnergy's Ohio customers and the company itself.

The filing addresses the estimated amortization of regulatory transition costs and deferred shopping incentive balances. A comparative schedule is provided showing these estimates under both the current RSP and the proposed RCP for the years 2006 through 2010.

More detailed information is available in the Press Release (Exhibit 99.1) and the Letter to the Investment Community (Exhibit 99.2) issued by FirstEnergy on September 9, 2005, both of which are incorporated by reference into this 8-K filing.

Yes, FirstEnergy's forward-looking statements highlight numerous risks and uncertainties that could cause actual results to differ materially. These include increased competition, economic conditions, changes in energy markets, regulatory and legislative changes, and the outcomes of various legal and governmental investigations.