UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 10-K/A
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 2004
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from _______________to _______________ |
Commission | | Registrant; State of Incorporation; | | I.R.S. Employer |
File Number | | Address; and Telephone Number | | Identification No. |
333-21011 | FIRSTENERGY CORP. | 34-1843785 |
| (An Ohio Corporation) | |
| 76 South Main Street | |
| Akron, OH 44308 | |
| Telephone (800)736-3402 | |
| | |
1-2323 | THE CLEVELAND ELECTRIC ILLUMINATING COMPANY | 34-0150020 |
| (An Ohio Corporation) | |
| c/o FirstEnergy Corp. | |
| 76 South Main Street | |
| Akron, OH 44308 | |
| Telephone (800)736-3402 | |
| | |
1-3583 | THE TOLEDO EDISON COMPANY | 34-4375005 |
| (An Ohio Corporation) | |
| c/o FirstEnergy Corp. | |
| 76 South Main Street | |
| Akron, OH 44308 | |
| Telephone (800)736-3402 | |
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
| | | | Name of Each Exchange |
Registrant | | Title of Each Class | | on Which Registered |
| | | | |
FirstEnergy Corp. | | Common Stock, $0.10 par value | | New York Stock Exchange |
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The Cleveland Electric | | Cumulative Serial Preferred Stock, without | | |
Illuminating Company | | par value: | | |
| | $7.40 Series A | | Both series registered on New |
| | Adjustable Rate, Series L | | York Stock Exchange |
| | | | |
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The Toledo Edison | | Cumulative Preferred Stock, par value | | |
Company | | $100 per share: | | |
| | 4-1/4% Series | | American Stock Exchange |
| | | | |
| | Cumulative Preferred Stock, par value | | |
| | $25 per share: | | |
| | $2.365 Series | | All series registered on |
| | Adjustable Rate, Series A | | New York Stock Exchange |
| | Adjustable Rate, Series B | | |
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SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
None
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days: Yes (X) No ( )
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.
(X) | FirstEnergy Corp. |
( ) | The Cleveland Electric Illuminating Company and The Toledo Edison Company,. |
Indicate by check mark whether each registrant is an accelerated filer (as defined in Rule 12b-2 of the Act):
Yes (X) No ( ) | FirstEnergy Corp. |
Yes ( ) No (X) | The Cleveland Electric Illuminating Company and The Toledo Edison Company |
State the aggregate market value of the common stock held by non-affiliates of the registrants: FirstEnergy Corp., $12,315,809,435 as of June 30, 2004; and for all other registrants, none.
Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date:
| | OUTSTANDING | |
CLASS | | As of March 9, 2005 | |
| | | |
FirstEnergy Corp., $0.10 par value | | | 329,836,276 | |
| | | | |
The Cleveland Electric Illuminating Company, no par value | | | 79,590,689 | |
The Toledo Edison Company, $5 par value | | | 39,133,887 | |
| | | | |
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FirstEnergy Corp. is the sole holder of The Cleveland Electric Illuminating Company and The Toledo Edison Company common stock.
Documents incorporated by reference (to the extent indicated herein):
| | PART OF FORM 10-K INTO WHICH DOCUMENT IS INCORPORTED | |
DOCUMENT | |
| | | |
FirstEnergy Corp. Annual Report to Stockholders for | | | |
the fiscal year ended December 31, 2004 (Pages 4-85) | | | Part II | |
| | | | |
Proxy Statement for 2005 Annual Meeting of Stockholders | | | | |
to be held May 17, 2005 | | | Part III | |
This combined Form 10-K/A is separately filed by FirstEnergy Corp., The Cleveland Electric Illuminating Company and The Toledo Edison Company. Information contained herein relating to any individual registrant is filed by such registrant on its own behalf. No registrant makes any representation as to information relating to any other registrant, except that information relating to either of the FirstEnergy subsidiary registrants is also attributed to FirstEnergy.
EXPLANATORY NOTE
Item 2 - Properties of each registrant's Form 10-K for the year ended December 31, 2004 is hereby amended to correct footnote references indicating interests in generating units leased by The Cleveland Electric Illuminating Company (CEI) and The Toledo Edison Company (TE).
ITEM 2. PROPERTIES
The Companies’ respective first mortgage indentures constitute, in the opinion of the Companies’ counsel, direct first liens on substantially all of the respective Companies’ physical property, subject only to excepted encumbrances, as defined in the indentures. See “Leases” and “Capitalization” notes to the respective financial statements for information concerning leases and financing encumbrances affecting certain of the Companies’ properties.
The Companies own, individually or together as tenants in common, and/or lease, the generating units in service as of March 1, 2005, shown on the table below.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | ___________ | | | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | | ___________ | |
| | | | NDC (MW) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | OE | | Penn | | CEI | | TE | | JCP&L | | Met-Ed | | FES | |
_________________________________ | | Unit | | Total | | % | | MW | | % | | MW | | % | | MW | | % | | MW | | % | | MW | | % | | MW | | % | | MW | |
Plant - Location | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Coal-Fired Units | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Ashtabula- Ashtabula, OH | | | 5 | | | 244 | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 244 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Bay Shore- | | | 1-4 | | | 631 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 631 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Toledo, OH | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
R. E. Burger- Shadyside, OH | | | 3-5 | | | 406 | | | 100.00 | % | | 406 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Eastlake-Eastlake, OH | | | 1-5 | | | 1,233 | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 1,233 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Lakeshore- Cleveland, OH | | | 18 | | | 245 | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 245 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Bruce Mansfield- | | | 1 | | | 780 | | | 60.00 | % | | 468 | | | 33.50 | % | | 261 | | | 6.50 | % | (a) | 51 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Shippingport, PA | | | 2 | | | 780 | | | 43.06 | % | | 336 | | | 9.36 | % | | 73 | | | 30.28 | % | (a) | 236 | | | 17.30 | % | (a) | 135 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
| | | 3 | | | 800 | | | 49.34 | % | | 395 | | | 6.28 | % | | 50 | | | 24.47 | % | (a) | 196 | | | 19.91 | % | | 159 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
W. H. Sammis- | | | 1-6 | | | 1,620 | | | 100.00 | % | �� | 1,620 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Stratton, OH | | | 7 | | | 600 | | | 48.00 | % | | 288 | | | 20.80 | % | | 125 | | | 31.20 | % | | 187 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Total | | | | | | 7,339 | | | -- | | | 3,513 | | | | | | 509 | | | -- | | | 2,392 | | | -- | | | 925 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Nuclear Units | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Beaver Valley- | | | 1 | | | 821 | | | 35.00 | % | | 287 | | | 65.00 | % | | 534 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Shippingport, PA | | | 2 | | | 831 | | | 41.88 | % | (b) | 348 | | | 13.74 | % | | 114 | | | 24.47 | % | | 203 | | | 19.91 | % | (c) | 166 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Davis-Besse- | | | 1 | | | 883 | | | -- | | | -- | | | -- | | | -- | | | 51.38 | % | | 454 | | | 48.62 | % | | 429 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Oak Harbor, OH | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Perry- N. Perry Village, OH | | | 1 | | | 1,260 | | | 30.00 | % | (b) | 378 | | | 5.24 | % | | 66 | | | 44.85 | % | | 565 | | | 19.91 | % | | 251 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Total | | | | | | 3,795 | | | | | | 1,013 | | | | | | 714 | | | | | | 1,222 | | | | | | 846 | | | | | | -- | | | | | | -- | | | | | | -- | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Oil/Gas-Fired/Pumped Storage Units | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Richland-Defiance, OH | | | 1-3 | | | 42 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 42 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
| | | 4-6 | | | 390 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 390 | |
Seneca-Warren, PA | | | 1-3 | | | 435 | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 435 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Sumpter- Sumpter Twp., MI | | | 1-4 | | | 340 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 340 | |
West Lorain | | | 1-1 | | | 120 | | | 100.00 | % | | 120 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | |
Lorain, OH | | | 2-6 | | | 425 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | 100.00 | % | | 425 | |
Yard's Creek-Blairstown Twp., NJ | | | 1-3 | | | 200 | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | -- | | | 50 | % | | 200 | | | -- | | | -- | | | -- | | | -- | |
Other | | | | | | 301 | | | | | | 109 | | | | | | 19 | | | | | | 33 | | | | | | 35 | | | | | | 86 | | | | | | 19 | | | | | | -- | |
Total | | | | | | 2,253 | | | | | | 229 | | | | | | 19 | | | | | | 468 | | | | | | 77 | | | | | | 286 | | | | | | 19 | | | | | | 1,155 | |
Total | | | | | | 13,387 | | | | | | 4,755 | | | | | | 1,242 | | | | | | 4,082 | | | | | | 1,848 | | | | | | 286 | | | | | | 19 | | | | | | 1,155 | |
Notes: | (a) | CEI’s and TE's interests in Bruce Mansfield are leased except that CEI's interests in Unit 2 consist of 1.68% owned and 28.60% leased. |
| (b) | OE’s interests consist of 20.22% owned and 21.66% leased for Beaver Valley Unit 2; and 17.42% owned (representing portion leased from a wholly owned subsidiary of OE) and 12.58% leased for Perry. |
| (c) | TE’s interests consist of 1.65% owned and 18.26% leased. |
Prolonged outages of existing generating units might make it necessary for the Companies, depending upon the demand for electric service upon their system, to use to a greater extent than otherwise, less efficient and less economic generating units, or purchased power, and in some cases may require the reduction of load during peak periods under the Companies’ interruptible programs, all to an extent not presently determinable.
The Companies’ generating plants and load centers are connected by a transmission system consisting of elements having various voltage ratings ranging from 23 kV to 500 kV. The Companies’ overhead and underground transmission lines aggregate 14,978 pole miles.
The Companies’ electric distribution systems include 114,177 miles of overhead pole line and underground conduit carrying primary, secondary and street lighting circuits. They own substations with a total installed transformer capacity of 91,117,000 kilovolt-amperes.
The transmission facilities that are owned and operated by ATSI also interconnect with those of AEP, DPL, Duquesne, Allegheny, MEC and Penelec. The transmission facilities of JCP&L, Met-Ed and Penelec are physically interconnected and are operated on an integrated basis as part of the PJM RTO.
FirstEnergy's distribution and transmission systems as of December 31, 2004, consist of the following:
| | Substation | | | | | |
| | Distribution | | Transmission | | Transformer | |
| | Lines | | Lines | | Capacity | |
| | (Miles) | | (kV-amperes) | |
| | | | | | | |
OE | | | 29,402 | | | 550 | | | 8,318,000 | |
Penn | | | 5,636 | | | 44 | | | 1,750,000 | |
CEI | | | 24,860 | | | 2,144 | | | 9,300,000 | |
TE | | | 1,622 | | | 223 | | | 3,691,000 | |
JCP&L | | | 18,493 | | | 2,106 | | | 21,154,000 | |
Met-Ed | | | 14,424 | | | 1,407 | | | 9,985,000 | |
Penelec | | | 19,740 | | | 2,690 | | | 14,238,000 | |
ATSI* | | | -- | | | 5,814 | | | 22,681,000 | |
| | | | | | | | | | |
Total | | | 114,177 | | | 14,978 | | | 91,117,000 | |
| * | Represents transmission lines of 69kv and above in service areas of OE, Penn, CEI and TE. |
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 duly authorized.
| FIRSTENERGY CORP. |
| Registrant |
| |
| THE CLEVELAND ELECTRIC |
| ILLUMINATING COMPANY |
| Registrant |
| |
| THE TOLEDO EDISON COMPANY |
| Registrant |
| | |
| |
| | |
| By: | /s/ Harvey L. Wagner |
| Harvey L. Wagner |
| Vice President, Controller and Chief Accounting Officer |
Date: May 3, 2005