XEL - FirstEnergy Boosts Infrastructure for Summer Heat & Storms | Benzinga
FirstEnergy Corporation (NYSE: FE) and its transmission subsidiaries completed the necessary inspection and maintenance of its transmission system. The idea was to ensure that FE's transmission lines could operate efficiently during the summer, and potentially severe weather and hurricanes that come with the season.
The National Oceanic and Atmospheric Administration has predicted an 85% chance of an above-normal hurricane season, with 17-25 named storms and eight to 13 hurricanes, including four to seven major hurricanes. FE's unit Jersey Central Power & Light's crews are prepared to respond in the event of severe weather or hurricanes that may affect the area this summer.
FirstEnergy uses thermovision cameras to take infrared pictures of electrical equipment, assisting in the identification of possible issues in power lines and substations. Utility workers complete more detailed inspections and make repairs in these areas to prevent potential power outages.
Need for Investments & Maintenance
The company's strategic investment is focused on infrastructure upgrades that should help serve its customers more efficiently. FirstEnergy's ‘Energize365' is a multi-year grid evolution platform, focused on enhancing customer experience while maintaining its strong affordability position with rates at or below its in-state peers. With planned investments of $26 billion between 2024 and 2028, the company is set to install advanced equipment and technologies that will ...