Company profile

Future of FirstEnergy

#
Rank
802
| Quantumrun Global 1000

FirstEnergy Corporation is a diversified energy company, with affiliates and subsidiaries involved in the transmission, distribution, and generation of electricity, as well as energy supervision and other energy-related services. It is headquartered in Akron, Ohio. The ten-electric utility operating companies of the corporation comprise America’s biggest investor-owned utility, based on serving 6 million consumers within a 65,000-square-mile (170,000 km2) area of West Virginia, Maryland, New York, Ohio, Pennsylvania, Virginia, and New Jersey. Its generation subsidiaries control over 23,000 megawatts of capacity, and its distribution lines span over 194,000 miles. FirstEnergy ranked 181 on the Fortune 500 list of the biggest public corporations in America in 2013.

Home Country:
Sector:
Industry:
Utilities - Gas and Electric
Website:
Founded:
1977
Global employee count:
15707
Domestic employee count:
Number of domestic locations:
6

Financial Health

Revenue:
$14562000000 USD
3y average revenue:
$14879000000 USD
Operating expenses:
$22824000000 USD
3y average expenses:
$16515000000 USD
Funds in reserve:
$199000000 USD

Asset Performance

  1. Product/Service/Dept. name
    External (electric)
    Product/Service revenue
    14760000000
  2. Product/Service/Dept. name
    External (other)
    Product/Service revenue
    266000000

Innovation assets and Pipeline

Total patents held:
6

All company data collected from its 2016 annual report and other public sources. The accuracy of this data and the conclusions derived from them depend on this publicly accessible data. If a data point listed above is discovered to be inaccurate, Quantumrun will make the necessary corrections to this live page. 

DISRUPTION VULNERABILITY

Belonging to the energy sector means this company will be affected directly and indirectly by a number of disruptive opportunities and challenges over the coming decades. While described in detail within Quantumrun’s special reports, these disruptive trends can be summarized along the following broad points:

*First off, the most obvious disruptive trend is the shrinking cost and increasing energy generating capacity of renewable sources of electricity, such as wind, tidal, geothermal and (especially) solar. The economics of renewables are advancing at such a rate that further investments into more traditional sources of electricity, such as coal, gas, petroleum, and nuclear, are becoming less competitive in many parts of the world.

*Concurrent with the growth of renewables is the shrinking cost and increasing energy storing capacity of utility-scale batteries that can store electricity from renewables (like solar) during the day for release during the evening.

*The energy infrastructure in much of North America and Europe is decades old and is currently in the two-decade-long process of being rebuilt and reimagined. This will result in the installation of smart grids that are more stable and resilient, and will spur the development of a more efficient and decentralized energy grid in many parts of the world.

*The growing cultural awareness and acceptance of climate change is accelerating the public's demand for clean energy, and ultimately, their government's investment into cleantech infrastructure projects.

*As Africa, Asia, and South America continue to develop over the next two decades, their populations’ increasing demand first world living conditions will spur demand for modern energy infrastructure that will keep energy sector building contracts going strong into the foreseeable future.

*Significant breakthroughs in Thorium and fusion energy will be made by the mid-2030s, leading to their rapid commercialization and global adoption.

COMPANY’S FUTURE PROSPECTS

Company Headlines