October 21, 2014 8:30 AM ET

Electric Utilities

Company Overview of Metropolitan Edison Company

Company Overview

Metropolitan Edison Company operates as an electric transmission and distribution company in Pennsylvania. As of July 7, 2014, it served approximately 560,000 customers in 15 Pennsylvania counties. 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

Principal Executive Officer
Age: 58
Chief Financial Officer and Senior Vice President
Age: 60
Regional President
Executive Vice President and General Counsel
Age: 55
Executive Vice President of Finance & Strategy and Director
Age: 63
Compensation as of Fiscal Year 2014.

Metropolitan Edison Company Key Developments

Metropolitan Edison Company Constructs New Transmission Line, Rebuilds Another, to Enhance Service Reliability in Berks County

Metropolitan Edison Company announced that it is completing work on a new 69-kilovolt (kV) transmission line, and rebuilding another, that connect substations between Reading and Muhlenberg Township in Berks County. The $9.2 million project includes building almost five miles of new transmission line and rebuilding more than four miles of an existing circuit. Overall, more than 80 new steel, wood or laminate poles have been installed. In addition, new 69 kV circuit breakers have been added at the substations. Both lines are intended to be in service by the end of the month and are expected to provide additional operational flexibility and redundancy in the Reading and Berks County areas.

IBEW local 777 Ratifies Three-Year Contract with Metropolitan Edison Company

FirstEnergy Corp. announced that employees of its Metropolitan Edison Company (Met-Ed) represented by the International Brotherhood of Electrical Workers (IBEW) Local 777 ratified a new three-year contract agreement. The new contract will replace the current contract that was set to expire on April 30, 2014. Key provisions of the contract include an 8% pay increase during the three-year contract. IBEW Local 777 members will receive a 3% wage increase the first year of the contract and then 2.5% wage increases during each of the final two years of the contract. In addition, the contract increases hourly pay rates for IBEW Local 777 members working second or third shifts or on Sunday.

Metropolitan Edison Company to Spend $116 Million in 2013 Designed to Enhance Electric System and Reliability

Metropolitan Edison Company is spending approximately $116 million in 2013 to expand and strengthen its existing infrastructure in its 15-county service territory. Major projects scheduled for this year include completing a new substation, building new circuits, replacing underground cables, inspecting and replacing utility poles and ongoing tree trimming and vegetation management programs. In addition, other projects will include the installation of automated and remote control devices designed to enhance Met-Ed's electrical system and reliability. Met-Ed's 2013 reliability projects have both localized and widespread benefits to customers throughout its 3,500 square mile service area. The scheduled projects include: Completing and energizing the Northkill Substation in northern Berks County, which will provide additional capacity in the area. The project, which is expected to cost nearly $10 million, is slated for completion this summer and is designed to support local industrial and commercial growth and future development; Spending approximately $2 million in the York area to enhance the transmission system; Installing new sectionalizing devices, such as fuses and reclosers, to help limit the scope of unplanned outages across the entire Met-Ed service territory. The cost of this project is about $1 million; Installing equipment to help maintain proper voltage levels. This is expected to benefit Met-Ed's industrial and large commercial customers that operate large motors, drives and other machinery; Inspecting and replacing utility poles. This inspection process is conducted on a 12-year cycle. Inspections began in January, with replacement work scheduled to be completed throughout the fall; Spending approximately $15 million as part of Met-Ed's ongoing vegetation management program to trim trees and maintain proper clearances.

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