Attached files
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D. C. 20549
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of Report (Date of earliest event reported) March 23, 2010
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Commission
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Registrant;
State of Incorporation;
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I.R.S.
Employer
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File Number
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Address; and Telephone
Number
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Identification No.
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333-21011
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FIRSTENERGY
CORP.
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34-1843785
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(An
Ohio Corporation)
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76
South Main Street
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Akron,
OH 44308
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Telephone (800)736-3402
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1-2578
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OHIO
EDISON COMPANY
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34-0437786
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(An
Ohio Corporation)
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c/o
FirstEnergy Corp.
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76
South Main Street
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Akron,
OH 44308
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Telephone (800)736-3402
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1-2323
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THE
CLEVELAND ELECTRIC ILLUMINATING COMPANY
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34-0150020
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(An
Ohio Corporation)
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c/o
FirstEnergy Corp.
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76
South Main Street
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Akron,
OH 44308
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Telephone (800)736-3402
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1-3583
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THE
TOLEDO EDISON COMPANY
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34-4375005
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(An
Ohio Corporation)
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c/o
FirstEnergy Corp.
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76
South Main Street
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Akron,
OH 44308
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Telephone (800)736-3402
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Check
the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2.):
[ ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
[ ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Item
7.01 Regulation FD Disclosure.
On March 23, 2010,
FirstEnergy Corp. issued a Letter to the Investment Community regarding the
filing of a stipulated Electric Security Plan with the Public Utilities
Commission of Ohio (PUCO) by its wholly owned subsidiaries, Ohio Edison Company,
The Cleveland Electric Illuminating Company and The Toledo Edison
Company. FirstEnergy provided related information in a Press Release
and Letter to the Investment Community, which are furnished, not filed, as
Exhibits 99.1 and 99.2, respectively, and incorporated by reference
hereunder.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
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Exhibit
No.
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Description
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99.1
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Press Release
issued by FirstEnergy Corp., dated March 23, 2010
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99.2
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Letter to the
Financial Community, dated March 23,
2010
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2
Forward-Looking
Statements: This Form 8-K includes forward-looking statements based
on information currently available to management. Such statements are subject to
certain risks and uncertainties. These statements include declarations regarding
management's intents, beliefs and current expectations. These statements
typically contain, but are not limited to, the terms "anticipate," "potential,"
"expect," "believe," "estimate" and similar words. Forward-looking statements
involve estimates, assumptions, known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements to be
materially different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Actual results may
differ materially due to the speed and nature of increased competition in the
electric utility industry and legislative and regulatory changes affecting how
generation rates will be determined following the expiration of existing rate
plans in Pennsylvania, the impact of the regulatory process on the pending
matters in Ohio, Pennsylvania and New Jersey, business and regulatory impacts
from American Transmission Systems, Incorporated's realignment into PJM
Interconnection, L.L.C., economic or weather conditions affecting future sales
and margins, changes in markets for energy services, changing energy and
commodity market prices and availability, replacement power costs being higher
than anticipated or inadequately hedged, the continued ability of FirstEnergy's
regulated utilities to collect transition and other charges or to recover
increased transmission costs, operating and maintenance costs being higher than
anticipated, other legislative and regulatory changes, revised environmental
requirements, including possible greenhouse gas emission regulations, the
potential impacts of the U.S. Court of Appeals' July 11, 2008 decision requiring
revisions to the Clean Air Interstate Rules and the scope of any laws, rules or
regulations that may ultimately take their place, the uncertainty of the timing
and amounts of the capital expenditures needed to, among other things, implement
the Air Quality Compliance Plan (including that such amounts could be higher
than anticipated or that certain generating units may need to be shut down) or
levels of emission reductions related to the Consent Decree resolving the New
Source Review litigation or other similar potential regulatory initiatives or
actions, adverse regulatory or legal decisions and outcomes (including, but not
limited to, the revocation of necessary licenses or operating permits and
oversight) by the Nuclear Regulatory Commission, Metropolitan Edison Company's
and Pennsylvania Electric Company's transmission service charge filings with the
Pennsylvania Public Utility Commission, the continuing availability of
generating units and their ability to operate at or near full capacity, the
ability to comply with applicable state and federal reliability standards, the
ability to accomplish or realize anticipated benefits from strategic goals
(including employee workforce initiatives), the ability to improve electric
commodity margins and to experience growth in the distribution business, the
changing market conditions that could affect the value of assets held in
FirstEnergy's nuclear decommissioning trusts, pension trusts and other trust
funds, and cause it to make additional contributions sooner, or in an amount
that is larger than currently anticipated, the ability to access the public
securities and other capital and credit markets in accordance with FirstEnergy's
financing plan and the cost of such capital, changes in general economic
conditions affecting the company, the state of the capital and credit markets
affecting the company, interest rates and any actions taken by credit rating
agencies that could negatively affect FirstEnergy's access to financing or its
costs or increase its requirements to post additional collateral to support
outstanding commodity positions, letters of credit and other financial
guarantees, the continuing decline of the national and regional economy and its
impact on the company's major industrial and commercial customers, issues
concerning the soundness of financial institutions and counterparties with which
FirstEnergy does business, the expected timing and likelihood of completion of
the proposed merger with Allegheny Energy, Inc., including the timing, receipt
and terms and conditions of any required governmental and regulatory approvals
of the proposed merger that could reduce anticipated benefits or cause the
parties to abandon the merger, the diversion of management's time and attention
from our ongoing business during this time period, the ability to maintain
relationships with customers, employees or suppliers as well as the ability to
successfully integrate the businesses and realize cost savings and any other
synergies and the risk that the credit ratings of the combined company or its
subsidiaries may be different from what the companies expect and the risks and
other factors discussed from time to time in its Securities and Exchange
Commission filings, and other similar factors. The foregoing review of factors
should not be construed as exhaustive. New factors emerge from time to time, and
it is not possible for management to predict all such factors, nor assess the
impact of any such factor on FirstEnergy's business or the extent to which any
factor, or combination of factors, may cause results to differ materially from
those contained in any forward-looking statements. FirstEnergy expressly
disclaims any current intention to update any forward-looking statements
contained herein as a result of new information, future events, or
otherwise.
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SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, each Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto
authorized.
March 24,
2010
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FIRSTENERGY
CORP.
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Registrant
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OHIO
EDISON COMPANY
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Registrant
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THE
CLEVELAND ELECTRIC
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ILLUMINATING
COMPANY
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Registrant
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THE
TOLEDO EDISON COMPANY
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Registrant
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By:
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Harvey L.
Wagner
Vice
President, Controller and
Chief
Accounting Officer
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