August 25, 2016 2:31 PM ET

Electric Utilities

Company Overview of Metropolitan Edison Company

Company Overview

Metropolitan Edison Company operates as an electric transmission and distribution company in Pennsylvania. The company was founded in 1917 and is based in Akron, Ohio. Metropolitan Edison Company is a subsidiary of FirstEnergy Corp.

76 South Main Street

Akron, OH 44308

United States

Founded in 1917

Key Executives for Metropolitan Edison Company

Chief Financial Officer and Senior Vice President
Age: 62
Regional President
Executive Vice President and General Counsel
Age: 57
Executive Vice President of Finance & Strategy, and Director
Age: 65
Vice President and Treasurer
Age: 45
Compensation as of Fiscal Year 2016.

Metropolitan Edison Company Key Developments

Auction Process For Pennsylvania Utilities To Start

FirstEnergy Corp. (NYSE:FE)'s Metropolitan Edison Company, Pennsylvania Electric Company, Pennsylvania Power Company and West Penn Power Company are up for sale. CRA International said on April 19, 2016 the auction process for First Energy's Pennsylvania utilities will start. CRA International said there will be an information session for bidders on April 27 and the process will lead up to the auction on June 27.

Metropolitan Edison Company to Conduct Storm Restoration Drills to Help Employees Prepare for Real-Life Events

Metropolitan Edison Company will be conducting two emergency readiness exercises in early April to test the company's service restoration process in the event that severe weather causes widespread power outages in the region. The first event will be held on April 2 and will focus on Met-Ed's western territory, including York, Lebanon, Hamburg, Dillsburg, Gettysburg, and Hanover. The second exercise will be held on April 9 and will focus on Met-Ed's eastern area, including Reading, Boyertown, Easton, and Stroudsburg. Designed to prepare employees assigned to storm restoration, and introduce process enhancements, the events will be held at Met-Ed's Distribution Control Center in Reading, with participating Met-Ed employees also staged at the company's service centers in York, Lebanon, Easton, and Reading. Overall, approximately 100 company employees from the Operations, Engineering, Communications, External Affairs, Customer Support, Facilities and Planning & Analysis groups will be involved in the exercises. In addition, representatives of the Pennsylvania Public Utility Commission will observe. A team of FirstEnergy and Met-Ed employees has been preparing for weeks to conduct the drills, which will roughly follow the same time schedule and outage totals as an actual storm that occurred in the past. Storm drills are becoming more common in the utility industry in the wake of severe weather over the last several years.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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