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) September 9, 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
1-3491 PENNSYLVANIA POWER COMPANY 25-0718810
(A Pennsylvania Corporation)
c/o FirstEnergy Corp.
76 South Main Street
Akron, OH 44308
Telephone (800)736-3402
1-3141 JERSEY CENTRAL POWER & LIGHT COMPANY 21-0485010
(A New Jersey Corporation)
c/o FirstEnergy Corp.
76 South Main Street
Akron, OH 44308
Telephone (800)736-3402
1-446 METROPOLITAN EDISON COMPANY 23-0870160
(A Pennsylvania Corporation)
c/o FirstEnergy Corp.
76 South Main Street
Akron, OH 44308
Telephone (800)736-3402
1-3522 PENNSYLVANIA ELECTRIC COMPANY 25-0718085
(A Pennsylvania Corporation)
c/o FirstEnergy Corp.
76 South Main Street
Akron, OH 44308
Telephone (800)736-3402
Item 8.01 Other Events
On September 14, 2004, FirstEnergy Corp. announced that it will make a
$500 million voluntary contribution to its pension plan. A copy of the press
release is attached as Exhibit 99.1 hereto and incorporated by reference. The
contribution will be funded by FirstEnergy's subsidiaries through existing
short-term credit arrangements, including available intercompany money pools, as
follows:
(In millions)
Ohio Edison Company........................................ $ 60
The Cleveland Electric Illuminating Company................ 32
The Toledo Edison Company.................................. 13
Pennsylvania Power Company................................. 13
Jersey Central Power & Light Company....................... 62
Metropolitan Edison Company................................ 39
Pennsylvania Electric Company.............................. 50
All other subsidiaries..................................... 231
----
Total.................................................. $500
====
FirstEnergy also issued a Letter to the Investment Community that
provides additional related details. A copy of the Letter to the Investment
Community is attached as Exhibit 99.2 hereto and incorporated by reference.
The following clarifies a statement made by a FirstEnergy
representative at an investor conference on September 9, 2004. The Nuclear
Regulatory Commission (NRC) recently publicly disclosed that it was notifying
FirstEnergy that it will increase its regulatory oversight of the Perry Nuclear
Power Plant as a result of problems with safety system equipment over the past
two years. Ohio Edison Company, The Cleveland Electric Illuminating Company, The
Toledo Edison Company and Pennsylvania Power Company own and/or lease the Perry
Nuclear Power Plant. The NRC noted that the plant continues to operate safely.
The increased oversight will include an extensive NRC team inspection to assess
the equipment problems and FirstEnergy's corrective actions. The NRC's press
release, which includes a letter to FirstEnergy, is attached as Exhibit 99.3
hereto and incorporated by reference. The outcome of this increased oversight is
not known at this time.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits.
Exhibit No. Description
- ----------- -----------
99.1 Press release issued by FirstEnergy Corp., dated September 14,
2004
99.2 Letter to the Investment Community, dated September 14, 2004
99.3 Press release issued by the Nuclear Regulatory Commission, dated
August 12, 2004
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", "potential", "expect",
"believe",
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"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 (including revocation of necessary licenses or
operating permits), availability and cost of capital, the continuing
availability and operation of generating units, the 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, the final outcome in the proceeding related to
FirstEnergy's Application for a Rate Stabilization Plan in Ohio, the risks and
other factors discussed from time to time in the registrants' Securities and
Exchange Commission filings, including their annual report on Form 10-K (as
amended) for the year ended December 31, 2003, and their Form 10-Q for the
quarter ended June 30, 2004, and other similar factors. The registrants
expressly disclaim 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.
September 14, 2004
FIRSTENERGY CORP.
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Registrant
OHIO EDISON COMPANY
-------------------
Registrant
THE CLEVELAND ELECTRIC
----------------------
ILLUMINATING COMPANY
--------------------
Registrant
THE TOLEDO EDISON COMPANY
-------------------------
Registrant
PENNSYLVANIA POWER COMPANY
--------------------------
Registrant
JERSEY CENTRAL POWER & LIGHT COMPANY
------------------------------------
Registrant
METROPOLITAN EDISON COMPANY
---------------------------
Registrant
PENNSYLVANIA ELECTRIC COMPANY
-----------------------------
Registrant
/s/ Harvey L. Wagner
------------------------------------------------
Harvey L. Wagner
Vice President, Controller and
Chief Accounting Officer
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