FirstEnergy to Issue Report on Environmental ActivitiesMonday
Press Release
Source: FirstEnergy Corp.
FirstEnergy to Issue Report on Environmental ActivitiesMonday February 7, 11:18 am ET
AKRON, Ohio, Feb. 7 /PRNewswire-FirstCall/ -- FirstEnergy Corp. (NYSE: FE - News) today announced that it will issue a report on certain environmental activities, including its plans to respond to future environmental requirements. The report, which is being compiled in response to a shareholder proposal, will be based on an internal assessment of regulatory, competitive and public concerns related to emissions of carbon dioxide, sulfur dioxide, nitrogen oxides and mercury.
ADVERTISEMENT"We're proud of our environmental accomplishments and look forward to providing that information publicly," said Richard R. Grigg, FirstEnergy executive vice president and chief operating officer. "Issuing this report supports our corporate governance efforts to be responsive to shareholders, as well as our efforts to continually look for new ways to enhance environmental protection."
FirstEnergy companies own and operate approximately 13,400 megawatts of generating capacity in Ohio, Pennsylvania and New Jersey. Since enactment of the Clean Air Act, the company has spent more than $5 billion on environmental protection. Since 1990 alone, FirstEnergy has reduced emissions of sulfur dioxide by 58 percent and emissions of nitrogen oxides by 69 percent. In addition, the company has been involved in more clean-coal technology research projects than any utility in the country, including one currently under way at its R. E. Burger Plant.
"Considering the substantial environmental investments we've already made, and the fact that 40 percent of the electricity we generate comes from non- emitting nuclear plants, we believe we are well positioned to address future requirements in a cost-effective manner," said Grigg.
The shareholder proposal, which was withdrawn following the company's decision to issue the report, was made by the Presbyterian Church (USA) and the Marianist Province of the United States. The report will be completed by December 1, 2005, and will be posted on the company's Web site, www.firstenergycorp.com .
FirstEnergy is a diversified energy company headquartered in Akron, Ohio. Its subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. Its seven electric utility operating companies comprise the nation's fifth largest electric system, based on 4.4 million customers served within a 36,100 square-mile area of Ohio, Pennsylvania, and New Jersey.
Forward-Looking Statement: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements typically contain, but are not limited to, the terms "anticipate", "potential", "expect", "believe", "estimate" and similar words. Actual results may differ materially due to the speed and nature of increased competition and deregulation in the electric utility industry, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices, replacement power costs being higher than anticipated or inadequately hedged, maintenance costs being higher than anticipated, legislative and regulatory changes (including revised environmental requirements), adverse regulatory or legal decisions and the outcome of governmental investigations (including revocation of necessary licenses or operating permits), availability and cost of capital, the continuing availability and operation of generating units, the inability to accomplish or realize anticipated benefits of strategic goals, the ability to improve electric commodity margins and to experience growth in the distribution business, the ability to access the public securities markets, further investigation into the causes of the August 14, 2003 regional power outages and the outcome, cost and other effects of present and potential legal and administrative proceedings and claims related to those outages, the final outcome in the proceeding related to FirstEnergy's Application for a Rate Stabilization Plan in Ohio, the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission filings, including its annual report on Form 10-K (as amended) for the year ended December 31, 2003, and its Form 10-Q for the quarter ended September 30, 2004, and other similar factors. FirstEnergy expressly disclaims any current intention to update any forward-looking statements contained in this document as a result of new information, future events, or otherwise.
Source: FirstEnergy Corp.
http://biz.yahoo.com/prnews/050207/clm025_1.html
Source: FirstEnergy Corp.
FirstEnergy to Issue Report on Environmental ActivitiesMonday February 7, 11:18 am ET
AKRON, Ohio, Feb. 7 /PRNewswire-FirstCall/ -- FirstEnergy Corp. (NYSE: FE - News) today announced that it will issue a report on certain environmental activities, including its plans to respond to future environmental requirements. The report, which is being compiled in response to a shareholder proposal, will be based on an internal assessment of regulatory, competitive and public concerns related to emissions of carbon dioxide, sulfur dioxide, nitrogen oxides and mercury.
ADVERTISEMENT"We're proud of our environmental accomplishments and look forward to providing that information publicly," said Richard R. Grigg, FirstEnergy executive vice president and chief operating officer. "Issuing this report supports our corporate governance efforts to be responsive to shareholders, as well as our efforts to continually look for new ways to enhance environmental protection."
FirstEnergy companies own and operate approximately 13,400 megawatts of generating capacity in Ohio, Pennsylvania and New Jersey. Since enactment of the Clean Air Act, the company has spent more than $5 billion on environmental protection. Since 1990 alone, FirstEnergy has reduced emissions of sulfur dioxide by 58 percent and emissions of nitrogen oxides by 69 percent. In addition, the company has been involved in more clean-coal technology research projects than any utility in the country, including one currently under way at its R. E. Burger Plant.
"Considering the substantial environmental investments we've already made, and the fact that 40 percent of the electricity we generate comes from non- emitting nuclear plants, we believe we are well positioned to address future requirements in a cost-effective manner," said Grigg.
The shareholder proposal, which was withdrawn following the company's decision to issue the report, was made by the Presbyterian Church (USA) and the Marianist Province of the United States. The report will be completed by December 1, 2005, and will be posted on the company's Web site, www.firstenergycorp.com .
FirstEnergy is a diversified energy company headquartered in Akron, Ohio. Its subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. Its seven electric utility operating companies comprise the nation's fifth largest electric system, based on 4.4 million customers served within a 36,100 square-mile area of Ohio, Pennsylvania, and New Jersey.
Forward-Looking Statement: This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements typically contain, but are not limited to, the terms "anticipate", "potential", "expect", "believe", "estimate" and similar words. Actual results may differ materially due to the speed and nature of increased competition and deregulation in the electric utility industry, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices, replacement power costs being higher than anticipated or inadequately hedged, maintenance costs being higher than anticipated, legislative and regulatory changes (including revised environmental requirements), adverse regulatory or legal decisions and the outcome of governmental investigations (including revocation of necessary licenses or operating permits), availability and cost of capital, the continuing availability and operation of generating units, the inability to accomplish or realize anticipated benefits of strategic goals, the ability to improve electric commodity margins and to experience growth in the distribution business, the ability to access the public securities markets, further investigation into the causes of the August 14, 2003 regional power outages and the outcome, cost and other effects of present and potential legal and administrative proceedings and claims related to those outages, the final outcome in the proceeding related to FirstEnergy's Application for a Rate Stabilization Plan in Ohio, the risks and other factors discussed from time to time in FirstEnergy's Securities and Exchange Commission filings, including its annual report on Form 10-K (as amended) for the year ended December 31, 2003, and its Form 10-Q for the quarter ended September 30, 2004, and other similar factors. FirstEnergy expressly disclaims any current intention to update any forward-looking statements contained in this document as a result of new information, future events, or otherwise.
Source: FirstEnergy Corp.
http://biz.yahoo.com/prnews/050207/clm025_1.html
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