SEC File No. 70-9793
And
SEC FILE NO. 70-9941
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
CERTIFICATE PURSUANT TO
RULE 24
OF PARTIAL COMPLETION OF
TRANSACTIONS
FirstEnergy Corp.
------------------------------------:
In the matter of :
FirstEnergy Corp. : Certificate Pursuant
: to Rule 24 of Partial
: Completion of
: Transactions
SEC File No. 70-9793 :
SEC File No. 70-9941 :
(Public Utility Holding Company Act :
of 1935) :
------------------------------------
TO THE MEMBERS OF THE SECURITIES AND EXCHANGE COMMISSION:
The undersigned, FirstEnergy Corp (FirstEnergy) hereby certifies pursuant
to Rule 24 of the Rules and Regulations under the Public Utility Holding Company
Act of 1935 (the Act), that certain of the transactions proposed in the
Applications, as amended, filed in SEC File No. 70-9793 and SEC File No.
70-9941, respectively, have been carried out in accordance with the Commission's
Orders dated with respect to the said Applications as follows:
1. During the period January 1, 2002 through March 31, 2002, there were no sales
of common stock or Preferred Securities by FirstEnergy.
2. FirstEnergy issued 383,324 shares of common stock pursuant to options granted
under employee benefit plans and dividends reinvestment plans during the first
quarter of 2002.
3. During the period January 1, 2002 through March 31, 2002, no FirstEnergy
common stock was transferred to a seller of securities of a company being
acquired.
4. During the first quarter of 2002, the following guarantees were made by
FirstEnergy to support activities of its subsidiaries, FirstEnergy Solutions
Corp. (FE Solutions), FirstEnergy Facilities Services Group, LLC (FE
Facilities), FirstEnergy Ventures Corp (FE Ventures) and FirstEnergy Generation
(FE Generation):
FE Solutions (Trading - Electric)
Purpose of
Beneficiary Amount Terms Guarantee
----------- ------ ----- ---------
AES NewEnergy 1,500,000 (a) (b)
Allegheny Energy 3,000,000 (a) (b)
American Electric Power Corp 25,000,000 (a) (b)
American Transmission System 500,000 (a) (b)
Aquila Energy Marketing 8,000,000 (a) (b)
BP Energy Trading 3,000,000 (a) (b)
Cargil Alliant 1,000,000 (a) (b)
Carolina Power & Light 500,000 (a) (b)
Cinergy Capital & Trading 250,000 (a) (b)
Cinergy Services, Inc. 10,000,000 (a) (b)
CMS Marketing, Service
and Trading 1,500,000 (a) (b)
Conectiv Energy Supply 2,000,000 (a) (b)
Constellation Power Source 5,000,000 (a) (b)
2
Consumers Energy 250,000 (a) (b)
Coral Energy 5,000,000 (a) (b)
Dayton Power & Light 3,000,000 (a) (b)
Delmarva Power & Light Co. 750,000 (a) (b)
Detroit Edison Co. 500,000 (a) (b)
DTE Energy Trading 3,500,000 (a) (b)
Duke Power 1,500,000 (a) (b)
Dynegy Power Marketing 5,000,000 (a) (b)
El Paso Merchant Energy
-Gas, LP 5,000,000 (a) (b)
Energy USA - TPC 2,000,000 (a) (b)
Entergy - Koch Trading 5,000,000 (a) (b)
Exelon Generation 4,000,000 (a) (b)
Michigan Electric Transmission 250,000 (a) (b)
Midwest ISO 2,000,000 (a) (b)
Morgan Stanley Capital
Group Inc. 5,000,000 (a) (b)
New York Independent System
Operator 1,000,000 (a) (b)
New York State Electric & Gas 500,000 (a) (b)
Northern Indiana Public Svc 1,000,000 (a) (b)
Orion Power Midwest 2,500,000 (a) (b)
PJM Interconnection 20,000,000 (a) (b)
PP&L EnergyPlus 15,000,000 (a) (b)
Public Service Electric & Gas 9,000,000 (a) (b)
Reliant Energy Services 5,000,000 (a) (b)
Sempra Energy Trading Corp. 2,500,000 (a) (b)
Southern Energy Marketing 3,000,000 (a) (b)
Tractebel Energy Marketing 1,000,000 (a) (b)
TransAlta Energy Marketing Inc. 500,000 (a) (b)
Virginia Power 5,000,000 (a) (b)
Williams Energy Services 5,000,000 (a) (b)
FE Solutions (Trading - Gas)
AEP Energy Services Corp. 7,500,000 (a) (b)
ANR Pipeline 50,000 (a) (b)
Aquila Energy 5,000,000 (a) (b)
Atlas Resources 10,000,000 (a) (b)
BP Amoco 2,500,000 (a) (b)
BP Energy 8,000,000 (a) (b)
Cargil 4,000,000 (a) (b)
Catalyst Energy 630,000 (a) (b)
Cinergy Marketing & Trading 4,000,000 (a) (b)
CMS Marketing, Services
& Trade 1,000,000 (a) (b)
CoEnergy Trading 4,000,000 (a) (b)
Colonial Energy 1,000,000 (a) (b)
Columbia Gas Transmission
Corp. 2,500,000 (a) (b)
Columbia Gulf Transmission Co. 1,000,000 (a) (b)
Coral Energy Resources 1,000,000 (a) (b)
Dominion Field Services 2,000,000 (a) (b)
Dominion Retail 1,000,000 (a) (b)
Dominion Transmission 3,000,000 (a) (b)
Duke Energy Trading and
Marketing LLC 2,500,000 (a) (b)
3
Dynegy Marketing & Trade 6,000,000 (a) (b)
El Paso Merchant Energy 6,500,000 (a) (b)
Energy USA -TPC 4,000,000 (a) (b)
Equitable Energy, LLC 3,000,000 (a) (b)
Equitable Gas 1,000,000 (a) (b)
Markwest Hydrocarbon 1,000,000 (a) (b)
MidAmerican Energy 1,500,000 (a) (b)
Morgan Stanley Capital 12,000,000 (a) (b)
Natural Fuel Gas .
Distribution Corp. 250,000 (a) (b)
NJR Energy Services 9,000,000 (a) (b)
ONEOK Energy Marketing 5,000,000 (a) (b)
Paribas Bank 5,000,000 (a) (b)
PEPCO Energy Services 1,000,000 (a) (b)
ProLiance Energy 4,000,000 (a) (b)
Prudential Securities 25,000,000 (a) (b)
Public Service Electric & Gas 1,000,000 (a) (b)
Reliant Energy Services 7,000,000 (a) (b)
Sempra Energy Trading 1,000,000 (a) (b)
South Jersey Resource Group 950,000 (a) (b)
Southern Company Energy
Marketing 4,000,000 (a) (b)
Tennessee Gas Pipeline 1,000,000 (a) (b)
Texaco Natural Gas 3,000,000 (a) (b)
Texas Eastern Transmission 500,000 (a) (b)
TXU Energy Trading 5,000,000 (a) (b)
Virgina Power Energy /
Virginia Power Services 5,000,000 (a) (b)
Vista Resources 1,000,000 (a) (b)
Western Gas Resources 4,000,000 (a) (b)
Williams Energy Services 8,000,000 (a) (b)
WPS Energy Services 6,000,000 (a) (b)
FE Solutions (Long-Term Supply Contracts
----------------------------------------
Constellation 46,000,000 5 Years (b)
NRG Lake Plant Contract 30,000,000 5 Years (b)
FE Generation (Fuel Marketing/Coal)
Aquila Energy Marketing 2,000,000 (a) (c)
Catepillar Equipment Lease 865,000 (a) (c)
DTE Coal Services 500,000 (a) (c)
MichCon - Sumpter Facility
Construction 6,800,000 (a) (c)
Peabody Coaltrade 5,000,000 (a) (c)
PSEG Energy Resources 1,000,000 (a) (c)
Southern Energy Marketing 1,000,000 (a) (c)
FE Solutions (Retail)
Akron Center Plaza 1,000,000 (a) (d)
Pitt. Medical Center 800,000 (a) (d)
Allegheny Power 225,000 (a) (d)
American Electric Power 1,100,000 (a) (d)
Atlantic City Electric 21,500,000 (a) (d)
Atlantic City Electric 750,000 (a) (d)
Baltimore Gas & Electric 25,000 (a) (d)
Cincinnati Gas & Electric 2,600,000 (a) (d)
Columbia Gas of Ohio 1,500,000 (a) (d)
4
Dayton Power & Light 280,000 (a) (d)
Delmarva Power & Light 25,000 (a) (d)
Detroit Edison 1,000,000 (a) (d)
Dominion Peoples 1,000,000 (a) (d)
GSA Ohio Bid 6,000,000 (a) (d)
Jersey Central P&L 8,600,000 (a) (d)
Northern Indiana Public Svc 7,350,000 (a) (d)
PJM 1,500,000 (a) (d)
Potomac Electric Power 25,000 (a) (d)
Public Service Electric 43,000,000 (a) (d)
Public Service Electric 500,000 (a) (d)
State of Michigan 100,000 (a) (d)
FE Facilities - HVAC
Wachovia 1,100,000 1 Year (e)
GE Capital 3,000,000 5 Years (f)
GE Capital 10,000,000 5 Years (f)
Fifth Third Bank 2,000,000 1 Year (e)
FE Ventures
Fleet National Bank 12,000,000 3 Years (e)
Chase Manhattan Bank 15,000,000 2 Years (g)
General Services Admin. 800,000 2 Years (h)
National City Bank 10,000,000 5 Years (i)
First Merit Bank 9,624,000 1 Year (j)
(a) Such guarantees are issued for a one year term, with a ten-day
termination right by FirstEnergy
(b) Parental guarantees issued by FirstEnergy to provide credit support
for electric power and natural gas purchases by subsidiary
(c) Credit backstop to support coal and emission trading
(d) Credit requirement in non-FirstEnergy service territories
(e) Credit backstop to revolving credit agreement
(f) Credit backstop equipment lease agreement
(g) Bruce Mansfield oxidation project credit backstop
(h) Credit backstop federal courthouse project
(i) Credit backstop for real estate financing
(j) Credit backstop for two FirstEnergy airplane leases
5. During the period January 1, 2002 through March 31, 2002, the FirstEnergy
Companies issued the following indebtedness:
Transaction Maturity Transaction
Date Date Rate Amount Loan Balance
----------- -------- ---- ----------- ------------
CitiBank (FE Revolver)
----------------------
FirstEnergy 1/7/02 1/14/02 2.93 (40,000,000) 100,056,875
FirstEnergy 1/14/02 1/14/02 0.00 (75,000,000) 0
FirstEnergy 1/14/02 2/13/02 2.93 0 100,243,750
FirstEnergy 1/18/02 1/25/02 2.86 (50,000,000) 20,011,131
FirstEnergy 1/25/02 2/1/02 2.86 (10,000,000) 10,005,565
FirstEnergy 1/28/02 2/11/02 2.86 100,000,000 100,111,319
FirstEnergy 1/28/02 2/27/02 2.81 0 250,585,937
FirstEnergy 1/31/02 2/14/02 2.93 40,000,000 40,045,500
FirstEnergy 2/1/02 2/1/02 0.00 (10,000,000) 0
FirstEnergy 2/11/02 2/11/02 0.00 (100,000,000) 0
FirstEnergy 2/13/02 2/20/02 2.93 (30,000,000) 70,039,812
FirstEnergy 2/14/02 2/14/02 0.00 (40,000,000) 0
5
FirstEnergy 2/20/02 3/6/02 2.93 45,000,000 115,130,812
FirstEnergy 2/22/02 3/15/02 2.93 250,000,000 250,426,562
FirstEnergy 2/27/02 3/6/02 2.88 (50,000,000) 200,111,805
FirstEnergy 3/1/02 3/22/02 2.93 40,000,000 40,068,250
FirstEnergy 3/6/02 3/13/02 2.93 (100,000,000) 15,008,531
FirstEnergy 3/6/02 4/5/02 2.94 50,000,000 250,611,979
FirstEnergy 3/15/02 3/28/02 2.99 40,000,000 290,312,857
FirstEnergy 3/22/02 3/28/02 2.99 25,000,000 65,032,364
FirstEnergy 3/28/02 4/5/02 3.11 0 65,044,958
FirstEnergy 3/28/02 4/5/02 3.11 160,000,000 450,311,250
CitiBank (OE Revolver)
---------------------
Ohio Edison 1/24/02 1/31/02 2.41 60,000,000 60,028,145
Ohio Edison 1/31/02 1/31/02 0.00 (60,000,000) 0
Ohio Edison 2/1/02 2/15/02 2.60 200,000,000 200,202,222
Ohio Edison 2/15/02 2/22/02 2.60 0 200,101,111
Ohio Edison 2/22/02 2/22/02 2.60 (200,000,000) 0
Ohio Edison 3/1/02 3/15/02 2.60 125,000,000 125,126,388
Ohio Edison 3/15/02 3/28/02 2.66 (20,000,000) 105,100,953
Ohio Edison 3/28/02 4/11/02 2.66 0 105,108,718
6. During the period January 1, 2002 through March 31, 2002, the following short
term debt was issued by the Utility Subsidiaries:
ATSI-Intercompany Loan to:
--------------------------
Ohio Edison 12/31/01 1/2/02 3.55 0 26,081,151
Ohio Edison 1/2/02 1/31/02 3.63 0 26,157,383
Ohio Edison 1/31/02 2/1/02 3.63 15,910,000 42,071,623
Ohio Edison 2/1/02 2/28/02 3.46 0 42,180,954
Ohio Edison 2/28/02 3/1/02 3.46 (5,448,000) 36,736,489
Ohio Edison 3/1/02 3/29/02 2.18 (4,617,000) 32,174,045
Ohio Edison 3/29/02 4/1/02 2.18 7,300,000 39,481,228
FirstEnergy-Intercompany Loan to:
-----------------------------------------
JCP&L 1/2/02 2/1/02 3.63 0 18,257,692
JCP&L 2/1/02 2/11/02 3.46 0 18,275,264
JCP&L 2/11/02 2/11/02 0.00 (18,275,264) 0
Met-Ed 1/2/02 2/1/02 3.63 0 72,314,532
Met-Ed 2/1/02 2/11/02 3.46 0 72,384,133
Met-Ed 2/11/02 2/20/02 3.46 (25,000,000) 47,425,179
Met-Ed 2/20/02 3/1/02 3.46 10,000,000 57,474,922
Met-Ed 3/1/02 3/15/02 2.18 40,000,000 97,557,703
Met-Ed 3/15/02 4/1/02 2.18 30,000,000 127,689,246
Ohio Edison 3/29/02 4/1/02 2.18 75,600,000 75,613,757
Penelec 1/2/02 1/18/02 3.63 0 77,840,131
Penelec 1/18/02 2/1/02 3.63 (20,000,000) 57,921,746
Penelec 2/1/02 2/11/02 3.46 0 57,977,494
Penelec 2/11/02 3/1/02 3.46 (30,000,000) 28,025,964
Penelec 3/1/02 3/15/02 2.18 0 28,049,765
Penelec 3/15/02 4/1/02 2.18 10,000,000 38,089,003
Penn Power Energy 1/2/02 2/1/02 3.63 0 14,870,039
Penn Power Energy 2/1/02 2/28/02 3.56 0 14,909,692
Penn Power Energy 2/28/02 3/1/02 3.56 (11,997) 14,899,165
Penn Power Energy 3/1/02 3/25/02 2.86 0 14,927,601
Penn Power Energy 3/25/02 3/29/02 2.86 3,000 14,935,351
Penn Power Energy 3/29/02 4/1/02 2.86 (158,989) 14,779,887
OES Fuel 1-Intercompany Loan to:
--------------------------------
Ohio Edison 1/28/02 2/28/02 2.45 53,000,000 53,111,587
Ohio Edison 2/28/02 3/28/02 2.53 52,880,000 52,983,850
OES Fuel 2-Intercompany Loan to:
--------------------------------
Ohio Edison 1/15/02 2/15/02 2.50 5,300,000 5,311,386
Ohio Edison 2/15/02 3/15/02 2.53 4,680,000 4,689,191
Ohio Edison 3/15/02 3/28/02 2.58 3,400,000 3,403,161
6
Ohio Edison-Intercompany Loan to:
---------------------------------
Cleveland Elec 1/2/02 1/31/02 3.63 0 90,553,480
Cleveland Elec 1/31/02 2/1/02 3.63 7,002,000) 83,559,901
Cleveland Elec 2/1/02 2/28/02 3.46 0 83,777,046
Cleveland Elec 2/28/02 3/1/02 3.46 71,220,000 155,011,965
Cleveland Elec 3/1/02 3/29/02 2.18 0 155,275,254
Cleveland Elec 3/29/02 4/1/02 2.18 4,180,000 159,484,272
Toledo Edison 1/2/02 1/31/02 3.63 0 17,261,843
Toledo Edison 1/31/02 1/31/02 0.00 (17,261,843) 0
Toledo Edison 2/28/02 3/1/02 3.46 94,791,790 94,800,913
Toledo Edison 3/1/02 3/29/02 2.18 0 94,961,934
Toledo Edison 3/29/02 4/1/02 2.18 (8,756,000) 86,221,622
PennPower-Intercompany Loan to:
-------------------------------
Ohio Edison 1/2/02 1/25/02 3.63 0 54,203,666
Ohio Edison 1/25/02 1/31/02 3.63 (2,735,000) 51,499,791
Ohio Edison 1/31/02 2/1/02 3.63 4,852,000 56,357,470
Ohio Edison 2/1/02 2/28/02 3.46 0 56,503,926
Ohio Edison 2/28/02 3/1/02 3.46 11,240,000 67,750,446
Ohio Edison 3/1/02 3/29/02 2.18 (9,125,000) 58,725,022
Ohio Edison 3/29/02 4/1/02 2.18 (57,720,000) 1,005,205
Toledo Edison-Intercompany Loan to:
-----------------------------------
Ohio Edison 1/31/02 2/1/02 3.63 0 2,057,363
Ohio Edison 2/1/02 2/28/02 3.46 0 2,062,709
Ohio Edison 2/28/02 2/28/02 0.00 (2,062,709) 0
FirstEnergy-Intercompany Loan to:
---------------------------------
Advanced Tech 1/2/02 1/31/02 3.63 0 5,508,711
Advanced Tech 1/31/02 2/1/02 3.63 166,020 5,675,304
Advanced Tech 2/1/02 2/28/02 3.56 0 5,690,438
Advanced Tech 2/28/02 3/1/02 3.56 (37,702) 5,653,294
Advanced Tech 3/1/02 3/29/02 2.86 0 5,665,882
E-Group 1/2/02 2/1/02 3.63 0 1,380,873
E-Group 2/1/02 2/28/02 3.56 0 1,384,556
E-Group 2/28/02 3/1/02 3.56 156,832 1,541,540
E-Group 3/1/02 3/29/02 2.86 0 1,544,973
EI UK 1/1/02 1/4/02 6.56 0 335,988,103
EI UK 1/4/02 1/18/02 6.56 (1,829,570)335,011,008
EI UK 1/18/02 1/22/02 6.56 (288,915)334,966,068
EI UK 1/22/02 2/1/02 6.56 (2,499,980)333,071,915
EI UK 2/1/02 3/1/02 6.56 0 334,771,322
Facilities Svc 1/2/02 1/3/02 3.63 0 23,856,641
Facilities Svc 1/3/02 1/11/02 3.63 75,000 23,950,937
Facilities Svc 1/11/02 1/14/02 3.63 75,000 4,033,202
Facilities Svc 1/14/02 1/18/02 3.63 75,000 24,117,921
Facilities Svc 1/18/02 1/23/02 3.63 (1,000,000) 23,129,571
Facilities Svc 1/23/02 1/25/02 3.63 (350,000) 22,784,163
Facilities Svc 1/25/02 1/29/02 3.63 (150,000) 22,643,288
Facilities Svc 1/29/02 1/31/02 3.63 50,000 22,697,863
Facilities Svc 1/31/02 2/1/02 3.63 437,267 23,137,462
Facilities Svc 2/1/02 2/4/02 3.56 0 23,144,317
Facilities Svc 2/4/02 2/11/02 3.56 (200,000) 22,960,180
Facilities Svc 2/11/02 2/14/02 3.56 (200,000) 22,766,923
Facilities Svc 2/14/02 2/15/02 3.56 (200,000) 22,569,152
Facilities Svc 2/15/02 2/20/02 3.56 1,800,000 24,381,186
Facilities Svc 2/20/02 2/25/02 3.56 (600,000) 23,792,930
Facilities Svc 2/25/02 2/28/02 3.56 (1,000,000) 22,799,683
Facilities Svc 2/28/02 3/1/02 3.56 1,378,866 24,180,937
Facilities Svc 3/1/02 3/4/02 2.86 0 24,186,706
Facilities Svc 3/4/02 3/5/02 2.86 2,100,000 26,288,797
Facilities Svc 3/5/02 3/13/02 2.86 (125,000) 26,180,442
Facilities Svc 3/13/02 3/15/02 2.86 (350,000) 25,834,550
Facilities Svc 3/15/02 3/18/02 2.86 (200,000) 25,640,666
Facilities Svc 3/18/02 3/25/02 2.86 1,500,000 27,155,774
Facilities Svc 3/25/02 3/28/02 2.86 (1,000,000) 26,162,014
Facilities Svc 3/28/02 3/29/02 2.86 (400,000) 25,764,063
7
FE Generation 1/2/02 1/31/02 3.63 0 414,946,278
FE Generation 1/31/02 2/1/02 3.63 (10,005,464)404,981,627
FE Generation 2/1/02 2/28/02 3.56 0 406,061,567
FE Generation 2/28/02 3/1/02 3.56 (24,211,123)381,888,156
FE Generation 3/1/02 3/29/02 2.86 0 382,738,489
FE Nuclear 2/28/02 3/1/02 3.56 0 14,009,951
FE Nuclear 3/1/02 3/29/02 2.86 0 14,041,146
FE Properties 2/28/02 3/1/02 3.56 138,286 138,300
FE Properties 3/1/02 3/29/02 2.86 0 138,608
FE Ventures 2/28/02 3/1/02 3.56 0 16,100
FE Ventures 3/1/02 3/29/02 2.86 0 16,136
FirstEnergy Svc 1/2/02 1/31/02 3.63 0 1,991,852
FirstEnergy Svc 1/2/02 1/31/02 3.63 0 24,006,489
FirstEnergy Svc 1/2/02 1/31/02 3.63 0 25,133,103
FirstEnergy Svc 1/31/02 2/1/02 3.63 4,066,413 6,058,876
FirstEnergy Svc 1/31/02 2/1/02 3.63 (406,578) 23,602,290
FirstEnergy Svc 1/31/02 2/1/02 3.63 46,183 25,181,823
FirstEnergy Svc 2/1/02 3/1/02 3.56 0 6,075,631
FirstEnergy Svc 2/1/02 3/1/02 3.56 0 23,667,560
FirstEnergy Svc 2/1/02 3/1/02 3.56 0 25,251,461
FE Solutions 1/2/02 1/25/02 3.63 0 287,029,144
FE Solutions 1/25/02 1/31/02 3.63 (40,690,000)246,488,113
FE Solutions 1/31/02 2/1/02 3.63 20,610,000 267,125,034
FE Solutions 2/1/02 2/28/02 3.56 0 267,837,360
FE Solutions 2/28/02 3/1/02 3.56 (12,674,000)255,188,561
FE Solutions 3/1/02 3/29/02 2.86 0 255,756,778
GPU Capital 1/1/02 2/1/02 6.56 0 859,241,083
GPU Capital 2/1/02 3/1/02 6.56 0 863,625,122
GPU Telecom 1/2/02 1/31/02 3.63 0 15,064,616
GPU Telecom 1/31/02 2/1/02 3.63 1,592,202 16,658,498
GPU Telecom 2/1/02 2/28/02 3.56 0 16,702,920
GPU Telecom 2/28/02 3/1/02 3.56 504,765 17,209,385
GPU Telecom 3/1/02 3/29/02 2.86 0 17,247,704
NorthEast Gas 1/2/02 2/1/02 3.63 0 4,513,606
NorthEast Gas 2/1/02 3/1/02 3.46 0 4,512,127
Penn Power Energy 1/2/02 2/1/02 3.63 0 14,870,039
Penn Power Energy 2/1/02 2/28/02 3.56 0 14,909,692
Penn Power Energy 2/28/02 3/1/02 3.56 (11,997) 14,899,165
Penn Power Energy 3/1/02 3/25/02 2.86 0 14,927,601
Penn Power Energy 3/25/02 3/29/02 2.86 3,000 14,935,351
JCP&L 1/2/02 2/1/02 3.63 0 18,257,692
JCP&L 2/1/02 2/11/02 3.46 0 18,275,264
JCP&L 2/11/02 2/11/02 0.00 (18,275,264) 0
Met-Ed 1/2/02 2/1/02 3.63 0 72,314,532
Met-Ed 2/1/02 2/11/02 3.46 0 72,384,133
Met-Ed 2/11/02 2/20/02 3.46 (25,000,000) 47,425,179
Met-Ed 2/20/02 3/1/02 3.46 10,000,000 57,474,922
Met-Ed 3/1/02 3/15/02 2.18 40,000,000 97,557,703
Penelec 1/2/02 1/18/02 3.63 0 77,840,131
Penelec 1/18/02 2/1/02 3.63 (20,000,000) 57,921,746
Penelec 2/1/02 2/11/02 3.46 0 57,977,494
Penelec 2/11/02 3/1/02 3.46 (30,000,000) 28,025,964
Penelec 3/1/02 3/15/02 2.18 0 28,049,765
GPU Advanced-Intercompany Loan to:
----------------------------------
FE Solutions 2/28/02 3/1/02 3.56 0 13,001,283
FE Solutions 3/1/02 3/29/02 2.86 0 13,030,233
8
IBJ (Bi-Lateral Facility)
Ohio Edison 1/2/02 1/3/02 2.65 0 23,001,693
Ohio Edison 1/3/02 1/4/02 2.53 (8,500,000) 14,501,019
Ohio Edison 1/4/02 1/7/02 2.40 8,500,000 23,004,600
Ohio Edison 1/7/02 1/8/02 2.47 7,000,000 30,002,058
Ohio Edison 1/8/02 1/9/02 2.34 (5,500,000) 24,501,592
Ohio Edison 1/9/02 1/10/02 2.34 (13,500,000) 11,000,715
Ohio Edison 1/10/02 1/10/02 0.00 (11,000,000) 0
Ohio Edison 1/14/02 1/15/02 2.47 30,000,000 30,002,058
Ohio Edison 1/15/02 1/16/02 2.56 (13,000,000) 17,001,208
Ohio Edison 1/16/02 1/17/02 2.40 (15,000,000) 2,000,133
Ohio Edison 1/17/02 1/18/02 2.34 4,500,000 6,500,422
Ohio Edison 1/18/02 1/22/02 2.34 23,500,000 30,007,800
Ohio Edison 1/22/02 1/23/02 2.47 0 30,002,058
Ohio Edison 1/23/02 1/24/02 2.59 (2,000,000) 28,002,014
Ohio Edison 1/24/02 1/24/02 0.00 (28,000,000) 0
Ohio Edison 1/25/02 1/28/02 2.47 11,500,000 11,502,367
Ohio Edison 1/28/02 1/28/02 0.00 (11,500,000) 0
Ohio Edison 2/4/02 2/5/02 2.53 0 2,500,175
Ohio Edison 2/5/02 2/5/02 0.00 (2,500,000) 0
Ohio Edison 2/14/02 2/15/02 2.47 15,500,000 15,501,063
Ohio Edison 2/15/02 2/19/02 2.53 14,500,000 30,008,433
Ohio Edison 2/19/02 2/20/02 2.47 0 30,002,058
Ohio Edison 2/20/02 2/20/02 0.00 (30,000,000) 0
Ohio Edison 2/28/02 3/1/02 2.56 4,500,000 4,500,320
Ohio Edison 3/1/02 3/4/02 2.47 16,500,000 21,004,322
Ohio Edison 3/4/02 3/5/02 2.47 (4,500,000) 16,501,132
Ohio Edison 3/5/02 3/5/02 0.00 (16,500,000) 0
Ohio Edison 3/6/02 3/7/02 2.34 30,000,000 30,001,950
Ohio Edison 3/7/02 3/8/02 2.47 (5,500,000) 24,501,680
Ohio Edison 3/8/02 3/11/02 2.37 (13,500,000) 11,002,172
Ohio Edison 3/11/02 3/12/02 2.47 7,000,000 18,001,235
Ohio Edison 3/12/02 3/12/02 0.00 (18,000,000) 0
Ohio Edison 3/15/02 3/18/02 2.53 30,000,000 30,006,325
Ohio Edison 3/18/02 3/19/02 2.47 0 30,002,058
Ohio Edison 3/19/02 3/20/02 2.40 (14,000,000) 16,001,066
Ohio Edison 3/20/02 3/21/02 2.40 14,000,000 30,002,000
Ohio Edison 3/21/02 3/22/02 2.47 0 30,002,058
Ohio Edison 3/22/02 3/25/02 2.40 (27,500,000) 2,500,500
Ohio Edison 3/25/02 3/26/02 2.47 10,000,000 12,500,857
Ohio Edison 3/26/02 3/27/02 2.47 (12,500,000) 0
KeyBank(Bi-Lateral Facility)
---------------------------
Ohio Edison 1/7/02 1/8/02 2.75 3,500,000 3,500,267
Ohio Edison 1/8/02 1/8/02 0.00 (3,500,000) 0
Ohio Edison 1/18/02 1/22/02 2.66 11,500,000 11,503,394
Ohio Edison 1/22/02 1/23/02 2.81 (8,000,000) 3,500,273
Ohio Edison 1/23/02 1/23/02 0.00 (3,500,000) 0
Ohio Edison 2/15/02 2/19/02 2.88 8,500,000 8,502,715
Ohio Edison 2/19/02 2/20/02 2.81 3,500,000 12,000,937
Ohio Edison 2/20/02 2/20/02 0.00 (12,000,000) 0
7. During the first quarter of 2002, there were no financings consummated by
any Non-Utility Subsidiary that were not exempt under rule 52.
8. Neither FirstEnergy nor any of its Utility Subsidiaries entered into any
Hedge Instruments or Anticipatory Hedges during the first quarter of 2002.
9. Investments made during the first quarter 2002 in any intermediate
subsidiary or financing subsidiary are as follows:
9
Company Investment
------- ----------
(in Thousands $)
Centerior Funding Corp. (68,070)
FE Facilities Holding Co. (102)
GPU Power 1,500
Warrenton River Terminal, Ltd 50
Dunbar Mechanical Inc. 980
10. During the first quarter of 2002 FirstEnergy filed no U-6B-2 forms.
11. During the first quarter of 2002, no jurisdictional financing
transactions were entered into by any FirstEnergy company.
12. The following table presented in thousands, provides the capital structure
of FirstEnergy on a consolidated basis and each Utility Subsidiary as of the end
of the first quarter 2002.
FirstEnergy Corp. Amount Ratio
----------------- ---------- -----
Common Equity $7,436,518 30.90%
Preferred Stock 1,104,564 4.59%
Long Term Debt 14,645,710 60.87%
Short Term Debt 875,433 3.64%
---------- ------
Total Capitalization $21,193,758 100.00%
----------- ------
Ohio Edison
Common Equity $2,623,556 48.12%
Preferred Stock 335,070 6.15%
Long Term Debt 2,206,958 40.48%
Short Term Debt 286,132 5.25%
---------- ------
Total Capitalization $5,451,716 100.00%
---------- ------
Cleveland Electric
Common Equity $1,086,519 26.56%
Preferred Stock 265,693 6.49%
Long-Term Debt 2,565,999 62.72%
Short-Term Debt 173,188 4.23%
---------- ------
Total Capitalization $4,091,399 100.00%
---------- ------
Toledo Edison
Common Equity $626,633 35.86%
Preferred Stock 126,000 7.21%
Long-Tern Debt. 908,579 52.00%
Short-Term Debt 86,206 4.93%
---------- ------
Total Capitalization $1,747,418 100.00%
---------- ------
Pennsylvania Power
Common Equity $227,013 42.56%
Preferred Stock 54,105 10.14%
Long-Term Debt 252,301 47.30%
Short-Term Debt - -%
---------- ------
Total Capitalization $533,419 100.00%
---------- ------
10
JCP&L
Common Equity $3,203,866 69.37%
Preferred Stock 193,600 4.19%
Long-Term Debt 1,221,129 26.44%
Short-Term Debt - -%
--------- ------
Total Capitalization $4,618,595 100.00%
---------- ------
Met-Ed
Common Equity $1,307,902 62.00%
Preferred Stock 92,200 4.37%
Long-Term Debt 581,808 27.58%
Short-Term Debt 127,558 6.05%
--------- ------
Total Capitalization $2,109,468 100.00%
---------- ------
Pennelec
Common Equity $1,319,873 66.91%
Preferred Stock 92,000 4.66%
Long-Term Debt 522,687 26.50%
Short-Term Debt 38,050 1.93%
---------- ------
Total Capitalization $1,972,610 100.00%
---------- ------
Note: FirstEnergy's long-term debt is adjusted to include $85 million
classified as "Liabilities Related to Assets Pending Sale" on the balance
sheet.
13. The following table presented in thousands provides retained earnings
analysis of FirstEnergy on a consolidated basis and each Utility Subsidiary as
of the end of the first quarter 2002.
FirstEnergy Ohio Cleveland Toledo
Corp. Edison Electric Edison
----------- ------ -------- ------
Balance, January 1, 2002 $1,521,805 $572,272 $150,183 $113,436
Net Income (Loss) 116,493 56,351 12,696 (708)
Cash Dividends on Pfd Stock 0 (2,596) (5,172) (3,425)
Cash Dividends on Common Stock (109,726) (101,200) 0 (5,600)
Premium on Pfd Stock Redemptions 0 0 (3,150) (1,299)
--------- ------- ------- --------
Balance, March 31, 2002 $1,528,572 $524,827 $154,557 $102,404
---------- -------- ------- --------
Penn.
Power JCP&L Met-Ed Penelec
------ ----- ------ -------
Balance, January 1, 2002 $35,398 $29,343 $14,617 $10,795
Net Income (Loss) 11,950 39,979 19,118 14,147
Cash Dividends on Pfd Stock (925) (753) 0 0
Cash Dividends on Common Stock (7800) 0 0 0
Premium on Pfd Stock Redemptions 0 0 0 0
------- ------- ------ -------
Balance, March 31, 2002 $38,623 $68,569 $33,735 $24,942
------ ----- ------ ------
14. There was no change during the first quarter of 2002 related to the ratings
provided by any nationally recognized rating agency for securities issued by
FirstEnergy or any of its Utility Subsidiaries.
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SIGNATURE
The undersigned registered holding company has duly caused this quarterly
report to be signed on its behalf by the undersigned officer thereunto duly
authorized pursuant to the requirements of the Public Utility Holding Company
Act of 1935.
FIRSTENERGY CORP.
May 30, 2002
By: /s/ Harvey L. Wagner
-------------------------------------
Harvey L. Wagner
Vice President and Controller
(Principal Accounting Officer)
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