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4-Traders Homepage  >  Equities  >  Nyse  >  FirstEnergy Corp.    FE

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FirstEnergy : Two units at Bruce Mansfield coal plant to restart early next week

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02/25/2017 | 05:33am CET

Feb. 25--SHIPPINGPORT -- Two units at the Bruce Mansfield coal-fired power plant are expected to restart early next week, according to a news release from FirstEnergy Corp.

The units had been offline for nearly two weeks as part of a "short out-of-service period." Company officials had previously said the units were idled because market conditions didn't warrant their operation.

The company said in the news release that restart activities will begin this weekend on Units 1 and 3 at the plant. The second unit at the facility will remain out of service "as maintenance on plant equipment is completed," the company said.

FirstEnergy said while the units were offline, the 350 employees at Bruce Mansfield "completed routine daily maintenance work that supports ongoing safe and reliable operation."

The news of the restarting of the two units comes just several days after problems were reported with Bruce Mansfield's $200 million dewatering facility that processes coal ash.

The announcement also came a day after FirstEnergy officials said there are no imminent plans to sell or deactivate the coal-fired power plant, although both options are still on the table as the company works to get out of the power generating business.

___

(c)2017 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 14 941 M
EBIT 2017 2 997 M
Net income 2017 1 186 M
Debt 2017 21 518 M
Yield 2017 4,48%
P/E ratio 2017 12,35
P/E ratio 2018 13,10
EV / Sales 2017 2,40x
EV / Sales 2018 2,39x
Capitalization 14 301 M
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Mean consensus HOLD
Number of Analysts 20
Average target price 34,6 $
Spread / Average Target 6,9%
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NameTitle
Charles E. Jones President, Chief Executive Officer & Director
George M. Smart Non-Executive Chairman
James F. Pearson Chief Financial Officer & Executive VP
Robert B. Heisler Independent Director
Paul T. Addison Independent Director
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