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4-Traders Homepage  >  Equities  >  Nyse  >  FirstEnergy Corporation    FE

FIRSTENERGY CORPORATION (FE)
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FirstEnergy : Bruce Mansfield fire may have caused "significant" damage to plant

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01/23/2018 | 05:32am CET

Jan. 22--SHIPPINGPORT -- The fire at the Bruce Mansfield coal-fired power plant earlier this month might have caused "significant" damage to important aspects of the plant.

FirstEnergy Corp., which owns the facility, admitted in a filing Friday that a scrubber, stack "and other plant property and systems associated with Units 1 and 2" might have been significantly damaged during the fire on Jan. 10.

The filing, listed on the company's website, also gave insight into how the fire happened.

According to the document, workers were in the process of shutting down Unit 1 at the plant for a maintenance outage when an equipment failure resulted in an unplanned outage for Unit 2. That unplanned outage led to the loss of power at the plant.

Later that morning, a fire broke out and damaged the scrubber, which is an environmental control that "scrubs" pollutants from emissions before they are released from the plant. A stack and other property were also damaged during the fire.

FirstEnergy said an investigation is currently underway to determine the extent of the damage, "which may be significant," and it is expected to take several weeks.

The company also said Unit 3 at the power plant was unaffected by the fire.

Reached Monday for comment, FirstEnergy spokeswoman Stephanie Walton would only say personnel "continue to investigate the cause of the fire and assess damage."

___

(c)2018 the Beaver County Times (Beaver, Pa.)

Visit the Beaver County Times (Beaver, Pa.) at www.timesonline.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2017 14 504 M
EBIT 2017 3 087 M
Net income 2017 1 204 M
Debt 2017 21 753 M
Yield 2017 4,44%
P/E ratio 2017 12,59
P/E ratio 2018 13,69
EV / Sales 2017 2,50x
EV / Sales 2018 2,67x
Capitalization 14 436 M
Chart FIRSTENERGY CORPORATION
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FirstEnergy Corporation Technical Analysis Chart | FE | US3379321074 | 4-Traders
Technical analysis trends FIRSTENERGY CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 35,5 $
Spread / Average Target 9,3%
EPS Revisions
Managers
NameTitle
Charles E. Jones President, Chief Executive Officer & Director
George M. Smart Non-Executive Chairman
James F. Pearson Chief Financial Officer & Executive Vice President
Paul T. Addison Independent Director
William T. Cottle Independent Director
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