FirstEnergy Wins $950 Million Contract for Grid Modernization

Edgen Stock·Mar 02 2026, 16:55

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Key Takeaways

FirstEnergy Transmission has secured a significant contract from PJM Interconnection to upgrade critical energy infrastructure. The initiative focuses on enhancing grid reliability and capacity to meet growing consumer needs in the Ohio and Pennsylvania regions.

Project Award: FirstEnergy Transmission was selected by grid operator PJM Interconnection for several major grid enhancement projects.
Capital Investment: The company will invest approximately $950 million to upgrade infrastructure across Ohio and Pennsylvania.
Strategic Goal: The projects are designed to improve grid reliability and prepare for future growth in customer demand.

FirstEnergy Secures $950 Million Investment Mandate

FirstEnergy Transmission LLC (FET) will inject approximately $950 million into its network after being selected by regional grid operator PJM Interconnection on March 2, 2026. The capital is earmarked for a series of projects designed to significantly upgrade the electricity grid across Ohio and Pennsylvania. This initiative directly addresses the need to modernize aging equipment and enhance system capacity.

Upgrades Target Reliability for Ohio and Pennsylvania

The investment program aims to bolster grid strength and reliability to accommodate rising customer demand. Key activities will include rebuilding older power lines and upgrading crucial substations. By proactively enhancing its infrastructure, FET is positioning itself to ensure stable energy delivery and support future economic growth in the two states. The projects represent a critical step in making the regional power grid more resilient and efficient.