Research Paper
Our project is about First Energy Corporation and the Blackout of 2003.
First Energy was formed due to the merger of Ohio Edison Company and Centerior Energy Corporation in 1997.
This merger created the 11th largest electric utility company in the nation with approximately $20 billion in assets, 10,000 employees and servicing 2.2 million customers in a 13,200 square mile territory
First energy corporation is the majority shareholder of over ten different subsidiaries.
First energy has the majority control of many of their subsidiaries which include: Ohio Edison, Cleveland Electric illuminating company, Toledo Edison, Jersey Central Power and Light and Penn Power.
First Energy and its subsidiaries operate as part of the ECAR power grid in the eastern connection.
In 2004 Anthony J. Alexander was named CEO.
In 2011 he stated First Energys vision as, “To be a leading regional energy provider, recognized for operational excellence, outstanding customer service and our commitment to safety; the choice for long-term growth, investment value and financial strength; and a company driven by the leadership, skills, diversity, and character of our employees. ”
In 2001, First Energy merged with GPU, Inc., which was the owner of Jersey Central Power and Light Company, Pennsylvania Electric Company, and Metropolitan Edison Company.
At that time, GPU serviced 4.3 million customers within a 24,000 square mile territory.
As a result of this merger, First Energy and its subsidiaries transmitted and distributed electricity to over 4 million customers within a 36,000 square mile area consisting of Ohio, Pennsylvania, New Jersey and New York.
Since then First Energy has