New Jersey Reliability Improvement Project Progresses
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy FE?
Source: Newsfilter
- Significant Progress: Jersey Central Power & Light (JCP&L) has reached the halfway point of its $95 million Reliability Improvement Project, with over an 80% reduction in outages for customers in Morris and Monmouth counties in 2025, demonstrating the effectiveness of the investments.
- Infrastructure Upgrades: JCP&L is strengthening poles and wires, moving certain lines underground, and adding smart devices for faster detection and restoration of power, which is expected to significantly reduce both the frequency and duration of outages.
- Upcoming Projects: Three upgrade projects in Hunterdon, Southern Ocean, and Warren counties are set to be completed by year-end, improving reliability for nearly 10,000 customers and enhancing service quality.
- Long-term Investment Plan: The improvement project is part of FirstEnergy's Energize365 initiative, which plans to invest $28 billion between 2025 and 2029 to build a smarter, more resilient grid that meets the evolving needs of communities.
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Analyst Views on FE
Wall Street analysts forecast FE stock price to rise
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 48.840
Low
46.00
Averages
49.25
High
54.00
Current: 48.840
Low
46.00
Averages
49.25
High
54.00
About FE
FirstEnergy Corp. and its subsidiaries are involved in the transmission, distribution, and generation of electricity through its segments: Distribution, Integrated and Stand-Alone Transmission. The Distribution Segment, which consists of the Ohio Companies and FirstEnergy Pennsylvania Electric Company (FE PA), distributes electricity in Ohio and Pennsylvania. The Integrated segment includes the distribution and transmission operations under Jersey Central Power & Light Company (JCP&L), Monongahela Power Company (MP) and The Potomac Edison Company (PE), as well as MP's regulated generation operations. The segment distributes electricity in New Jersey, West Virginia and Maryland, provides transmission infrastructure, and operates 3,604 MWs of regulated net maximum generation capacity. The Stand-Alone Transmission segment consists of its ownership in FET and KATCo, which includes transmission infrastructure owned and operated by the Transmission Companies and used to transmit electricity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Solar Project Expansion: In addition to the gas plant, Mon Power and Potomac Edison are seeking approval for three new solar projects totaling 70 MW, to be built on former industrial and reclaimed mining lands, further diversifying their energy portfolio and supporting renewable energy development.
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See More
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- Project Timeline: If approved by the West Virginia Public Service Commission, construction is anticipated to begin in 2027, with the plant expected to come online by late 2031, reflecting the companies' proactive planning for future electricity demand growth.
- Solar Resource Expansion: The companies are also seeking approval for 70 megawatts of new solar generation on former industrial and reclaimed mine lands, which will complement their existing 30-megawatt solar portfolio, supporting clean energy development and creating construction jobs.
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See More
