The latest to join the power service reliability program at
) is its ancillary Pennsylvania Electric Company (Penelec).
Following Metropolitan Edison Company (Met-Ed), Penelec is also
looking to speed up vegetation management activity in the state
ALLETE INC (ALE): Free Stock Analysis Report
DTE ENERGY CO (DTE): Free Stock Analysis
ENTERGY CORP (ETR): Free Stock Analysis
FIRSTENERGY CP (FE): Free Stock Analysis
To read this article on Zacks.com click here.
FirstEnergy has been an active participant in the vegetation
management program, which entails trimming of tree-climbs in
order to prevent damages to electric infrastructure during severe
storms. Besides Met-Ed, Jersey Central Power & Light recently
wrapped up major improvement work in northern and central New
Jersey service areas after the hurricanes.
To date, the company has trimmed tree-climbs over 1,500 circuit
miles and expects to prune a further 3,000 miles by the end of
2013. The overall capital spending for the vegetation project is
set at $19.0 million for 2013. These initiatives will allow the
company to offer smooth and stable services to its customers.
FirstEnergy intends to carry out the program in its service
territories of Lain, Corry, Dubois, Erie, Franklin, Johnstown,
Lewistown, Meadville, Millcreek, Nicktown, Northern Cambria, Oil
City, Patton, Punxsutawney, Salix, South Fork, St. Benedict,
Tunkhannock, and Warren.
The company's constant focus to preserve its utility assets is
commendable and has attracted a large number of customers to its
services. It witnessed a sharp 42% year-over-year rise in
customer footprint in the first quarter of 2013. We anticipate
these efforts will go a long way to enhance FirstEnergy's
However, the country's primary weather analyzing body National
Oceanic and Atmospheric Administration ("NOAA") has predicted
extremely heavy storms in the period Jun to Nov 2013. The
vagaries of weather will surely test FirstEnergy's power
Currently, FirstEnergy retains a Zacks Rank #3 (Hold). Utilities
that are presently on a high in the energy market include Zacks
Rank #2 (Buy)
DTE Energy Company
Based in Akron, Ohio, FirstEnergy engages in the generation,
transmission and distribution of electricity in the United