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) February 23, 2004
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
1-2578 OHIO EDISON COMPANY 34-0437786
(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
Item 9. Regulation FD Disclosure
On February 23, 2004, following the completion of the
cross-examination in the direct case, FirstEnergy Corp.'s Ohio electric utility
operating companies (Companies) filed the rebuttal testimony of President and
Chief Executive Officer, Anthony J. Alexander, in the regulatory proceeding for
considering FirstEnergy's Application for establishing generation service rates
beginning January 1, 2006.
As described in Mr. Alexander's testimony, after considering
primarily the comments and testimony of the Public Utilities Commission of
Ohio's Staff witnesses, as well as those provided by some of the intervening
parties, the Companies have reconsidered their position and elected to make
certain modifications to the Rate Stabilization Plan initially filed on October
21, 2003 (Initial Plan).
Copies of Mr. Alexander's rebuttal testimony, as well as a
"red-lined" version of the Initial Plan, constituting the Revised Rate
Stabilization Plan and associated attachments, are included on FirstEnergy's
Investor Information Web site, www.firstenergycorp.com/ir under Letters to
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Investment Community.
Cross-examination of Mr. Alexander's rebuttal testimony will occur on
February 25, 2004. FirstEnergy anticipates a Commission Order in the proceeding
in the spring.
Forward-Looking Statement: 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," "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, maintenance costs being higher than anticipated,
legislative and regulatory changes (including revised environmental
requirements), adverse regulatory or legal decisions and the outcome of
governmental investigations, availability and cost of capital, inability of the
Davis-Besse Nuclear Power Station to restart (including because of any inability
to obtain a favorable final determination from the Nuclear Regulatory
Commission), inability to accomplish or realize anticipated benefits of
strategic goals, the ability to improve electric commodity margins and to
experience growth in the distribution business, the ability to access the public
securities markets, further investigation into the causes of the August 14, 2003
regional power outage and the outcome, cost and other effects of present and
potential legal and administrative proceedings and claims related to that
outage, a denial of or material change to the Company's Application related to
its Rate Stabilization Plan, and other factors discussed from time to time in
FirstEnergy's Securities and Exchange Commission filings, including its annual
report on Form 10-K (as amended) for the year ended December 31, 2002, its Form
10-Q for the quarter ended September 30, 2003 and under "Risk Factors" in the
Prospectus Supplement dated September 12, 2003 to the Prospectus dated August
29, 2003 (which was part of the Registration Statement-SEC File No. 333-103865)
and other similar factors. FirstEnergy expressly disclaims any current intention
to update any forward-looking statements contained in this document 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 duly authorized.
February 24, 2004
FIRSTENERGY CORP.
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Registrant
OHIO EDISON COMPANY
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Registrant
THE CLEVELAND ELECTRIC
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ILLUMINATING COMPANY
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Registrant
THE TOLEDO EDISON COMPANY
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Registrant
/s/ Harvey L. Wagner
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Harvey L. Wagner
Vice President, Controller
and Chief Accounting Officer
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