8-KRegulation FD

FIRSTENERGY CORP 8-K Report, Regulation FD Disclosure (May 30, 2013)

Filed May 30, 2013For Securities:FE

Summary

This 8-K filing from FirstEnergy Corp. (FE) on May 30, 2013, primarily announces the company's intention to post selected unaudited financial information for several of its subsidiaries, including Ohio Edison Company and Jersey Central Power & Light Company, for the first quarter of 2013 and 2012. This information will be made available on FirstEnergy's investor relations website. The purpose of these postings is to provide a summary overview of the financial positions of these entities, which are not SEC registrants. Investors should note that the financial information provided is intended as a summary and may not include the full scope of footnote disclosures or complete financial statements typically found in more comprehensive filings. FirstEnergy plans to update this information approximately sixty days after the end of each of the first three fiscal quarters and audited financial information, with accompanying footnotes, approximately ninety days after the end of each fiscal year. This initiative aims to enhance transparency for investors regarding the financial performance of key operating subsidiaries.

Key Highlights

  • 1FirstEnergy Corp. will post unaudited financial information for Ohio Edison and Jersey Central Power & Light for Q1 2013 and Q1 2012 on its investor website.
  • 2Selected financial data for numerous other non-SEC registrant subsidiaries will also be made available online.
  • 3The posted information is intended as a summary or overview, not a complete financial presentation.
  • 4Footnote disclosures and certain financial statements normally accompanying such information may be omitted.
  • 5FirstEnergy intends to post quarterly summary information about 60 days after the end of each of the first three fiscal quarters.
  • 6Audited financial information with footnotes for these subsidiaries is expected about 90 days after the fiscal year-end.
  • 7This action aims to improve transparency for investors regarding subsidiary financial health.

Frequently Asked Questions

The primary purpose of this 8-K filing is to inform investors that FirstEnergy Corp. will be posting selected unaudited financial information for several of its subsidiaries on its investor relations website. This is a new disclosure initiative to provide more transparency into the financial performance of these key operating entities.

Unaudited financial information for the three months ended March 31, 2013, and March 31, 2012, will be posted for Ohio Edison Company and Jersey Central Power & Light Company. Additionally, summary financial information will be provided for a list of other subsidiaries that are not SEC registrants, such as Allegheny Energy Supply Company, LLC, American Transmission Systems, Incorporated, and The Cleveland Electric Illuminating Company, among others.

No, investors should not view this information as a complete presentation of the financial condition or results of operations for these entities. The filing explicitly states that the information is intended merely as a summary or overview and may not include complete footnote disclosures or certain financial statements typically found in more comprehensive filings.

FirstEnergy intends to post the unaudited quarterly summary information approximately sixty days following the end of each of the first three fiscal quarters. Audited financial information, including accompanying footnotes, is expected approximately ninety days following the end of each fiscal year.