Ohio Edison has taken a shine to the folks in the Buckeye state. The company distributes electricity to a population of about 2.3 million (more than 1 million customers) in a 7,000 sq. ml. area of central and northeastern Ohio. Ohio Edison, a unit of FirstEnergy, also has 5,955 MW of generating capacity from interests in primarily fossil-fueled and nuclear generation facilities, and it sells excess power to wholesale customers. The utility's power plants are operated by sister companies FirstEnergy Nuclear and FirstEnergy Generation. Subsidiary Pennsylvania Power Company provides electric service to communities in a 1,100 sq. ml. area of western Pennsylvania, which has a population of approximately 400,000.
Ohio Edison and Pennsylvania Power provide regulated electric distribution services and procure of generation services. Ohio Edison operates more than 30,460 miles of distribution lines and 500 miles of transmission lines.
Ohio Edison and Pennsylvania Power conduct business in portions of Ohio and Pennsylvania.
Revenues decreased by 11% in 2011 due to lower retail generation revenues, partially offset by higher distribution and wholesale generation revenues. Retail generation revenues decreased primarily due to a drop in energy sales caused from an increase in customers shopping for alternative power providers and lower average prices across all customer classes.
Ohio Edison's net income decreased by 17% in 2011 due to lower revenues, partially offset by lower purchased power costs.
In 2011 parent FirstEnergy acquired Allegheny Energy in a $8.5 billion deal that grew FirstEnergy's generation capacity and dramatically boosted the company's position as a leading regional energy provider.
Ohio Edison is a subsidiary of FirstEnergy.
FirstEnergy and Ohio Edison reached a settlement in 2005 with the federal government to reduce harmful emissions from its Ohio power generating plants; in addition to fines, Ohio Edison has been mandated to pledge $25 million for wind power, biomass, and other alternative energy sources. In 2009 Ohio Edison began retrofitting two units at its Shadyside, Ohio power plant to burn wood and other biomass materials in order to lower its greenhouse gas output.
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