FirstEnergy Corp. (NYSE:FE) Woes Customers With Four Year Fixed Price Plan


Dallas, Texas 12/30/2013 (FIANACIALSTRENDS) – FirstEnergy Corp. (NYSE:FE) is an S&P 500 index tracked firm and has a market cap of $13.71 billion. It has managed to post net income of $85 million from overall sales of $14.32 billion in the past 12 months. During trading on Friday, December 27, the share price had posted a 2.25 percent increase in its market value from its previous day close mark, ending the day at $32.79 per share.

FirstEnergy Corp. (NYSE:FE) has been attempting to tie in its customers into long term relationships and there by avoid loosing these same hard won customers to competition. In a continued push of this strategy, the company announced in mid December, that it was offering its customers an option to freeze their electric utility bills at today’s levels for the next four years, by opting to sign up for its price control offer. This offer which has been launched under the “FirstEnergy Solutions PriceControl” campaign and the customers opting to sign up will be able to fix the price of power at $0.0949 per kilowatt hour of power till 2017. For many residents this offer might prove irresistible since it is well below the current price point of $0.1 per kilowatt hour of power that is charged by Jersey Central Power & Light.

Commenting about this new offer, FirstEnergy Corp. (NYSE:FE) VP of Sales and Marketing has been quoted as saying, “Our PriceControl offer is a great opportunity for residents interested in price stability to take advantage of today’s historically low prices in the energy market. They’ll save money now and lock in a low price that won’t change for four years.”

Readers should note that FirstEnergy Corp. (NYSE:FE) is one of the biggest operates of power generation plants in U.S and provides services to close to 2.5 million users across the six states of “Ohio, Pennsylvania, New Jersey, Maryland, Michigan and Illinois.”