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) September 14,
2007
|
Commission
File
Number
|
|
Registrant;
State of Incorporation;
Address;
and Telephone Number
|
|
I.R.S.
Employer
Identification
No.
|
|
|
|
|
|
|
|
333-21011
|
|
FIRSTENERGY
CORP.
|
|
34-1843785
|
|
|
|
(An
Ohio Corporation)
|
|
|
|
|
|
76
South Main Street
|
|
|
|
|
|
Akron,
OH 44308
|
|
|
|
|
|
Telephone
(800)736-3402
|
|
|
|
|
|
|
|
|
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))
FirstEnergy
Corp. is
a diversified energy company that operates primarily through three core business
segments: energy delivery services, competitive energy services and Ohio
transitional generation services. Effective January 1, 2007,
FirstEnergy changed its external segment reporting structure to reflect the
operations of its core business segments and to align its external segment
reporting with internal management reporting to its chief operating decision
maker.
FirstEnergy
is
recasting the presentation of its reportable segments for all periods included
in its Annual Report on Form 10-K for the year ended December 31, 2006 to
conform to the new segment reporting structure initially presented in its
Quarterly Report on Form 10-Q for the quarter ended March 31,
2007. Accordingly, Exhibit 99.1 to this Current Report on Form 8-K,
which is attached hereto and incorporated by reference, updates and supersedes
certain information previously reported in Items 7 and 8 of Part II of
FirstEnergy’s Annual Report on Form 10-K for the year ended December 31,
2006. These changes did not have an impact on the previously reported
consolidated financial results of FirstEnergy.
Revisions
to the
previously reported information are limited to the segment reporting disclosures
in Management’s Discussion and Analysis of Financial Condition and Results of
Operations, and Notes 2(H) and 16 to the Consolidated Financial Statements
of
FirstEnergy. These revisions do not impact the Consolidated
Statements of Income, Consolidated Balance Sheets or Consolidated Statements
of
Cash Flows, as previously reported in FirstEnergy’s Annual Report on Form 10-K
for the year ended December 31, 2006. By virtue of this Current
Report, FirstEnergy will be able to incorporate the updated information by
reference into future registration statements or post-effective amendments
to
existing registration statements. The information in this Current
Report on Form 8-K is presented as of December 31, 2006 and has not been
updated
or modified to reflect financial results subsequent to that date or any other
changes since the filing date of the Annual Report on Form
10-K. Refer to FirstEnergy’s Quarterly Reports on Form 10-Q for the
periods ended March 31, 2007 and June 30, 2007 for the disclosure of significant
developments subsequent to the filing of its Annual Report on Form 10-K for
the
year ended December 31, 2006.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit
No.
|
|
Description
|
|
23.1
|
|
Consent
of
Independent Registered Public Accounting Firm.
|
|
99.1
|
|
FirstEnergy
2006 Annual Report to Stockholders (updated to present
recasted
business
segment information).
|
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 typically contain,
but are not limited to, the terms “anticipate,” “potential,” “expect,”
“believe,” “estimate” and similar words. Actual results may differ materially
due to the speed and nature of increased competition and deregulation in
the
electric utility industry, economic or weather conditions affecting future
sales
and margins, changes in markets for energy services, changing energy and
commodity market prices, 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, maintenance costs being higher than anticipated, legislative
and regulatory changes (including revised environmental requirements), and
the
legal and regulatory changes resulting from the implementation of the Energy
Policy Act of 2005 (including, but not limited to, the repeal of the Public
Utility Holding Company Act of 1935), 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 levels of emission reductions related to the Consent Decree
resolving the New Source Review litigation, 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 (including, but not limited to, the Demand for Information issued
to
FENOC on May 14, 2007) as disclosed in FirstEnergy’s SEC filings, the
timing and outcome of various proceedings before the Public Utilities Commission
of Ohio (including, but not limited to, the distribution rate cases and the
generation supply plan filing for the Ohio Companies and the successful
resolution of the issues remanded to the PUCO by the Ohio Supreme Court
regarding the Rate Stabilization Plan and the Rate Certainty Plan, including
the
deferral of fuel costs) and the Pennsylvania Public Utility Commission
(including Penn’s default service plan filing), the resolution of the Petitions
for Review filed with the Commonwealth Court of Pennsylvania with respect
to the
transition rate plan filing for Met-Ed and Penelec, the continuing availability
and operation of generating units, the ability of generating units to continue
to operate at, or near full capacity, the inability to accomplish or realize
anticipated benefits from strategic goals (including employee workforce
initiatives), the anticipated benefits from voluntary pension plan
contributions, the ability to improve electric commodity margins and to
experience growth in the distribution business, the ability to access the
public
securities and other capital markets and the cost of such capital, the outcome,
cost and other effects of present and potential legal and administrative
proceedings and claims related to the August 14, 2003 regional power
outage, any final adjustment in the purchase price per share under the
accelerated share repurchase program announced March 2, 2007, the risks and
other factors discussed from time to time in the registrant’s SEC filings, and
other similar factors. The registrant expressly disclaims any current
intention to update any forward-looking statements contained herein as a
result
of new information, future events, or otherwise.
Pursuant
to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto
duly
authorized.
September
14,
2007
|
|
FIRSTENERGY
CORP.
|
|
|
Registrant
|
|
|
|
| |
|
|
|
|
By:
|
|
|
|
Harvey
L.
Wagner
Vice
President, Controller and
Chief
Accounting Officer
|