FirstEnergy gains $1.2B in proceeds as sale of transmission subsidiary gets finalized
July 19, 2024
FirstEnergy Corp. on July 17 received the remaining $1.2 billion in proceeds from the sale of its FirstEnergy Transmission LLC (FET) subsidiary, and said it will use the funds to further improve its balance sheet and support its five-year, $26 billion Energize365 grid investment program.
“With the successful execution of these strategic transactions, FirstEnergy now has a strong balance sheet to support important investments in our regulated businesses that enhance service reliability, the customer experience, and the transition to a more electrified economy,” FirstEnergy President and CEO Brian Tierney said in a statement released Wednesday.
