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 30, 2004
Commission Registrant; State of Incorporation; I.R.S. Employer
File Number Address; and Telephone Number Identification No.
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333-21011 FIRSTENERGY CORP. 34-1843785
(An Ohio Corporation)
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
1-446 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
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
On September 30, 2004, FirstEnergy Corp.'s Pennsylvania electric utility
operating companies (Companies) entered into and filed a settlement agreement
that addresses all issues related to the Companies' reliability case pending
before the Pennsylvania Public Utility Commission (Commission). The agreement
outlines steps to enhance service reliability, performance reporting and
communications. It is subject to approval by the Administrative Law Judge (ALJ)
and the Commission. The ALJ is expected to make a recommendation by the end of
October and the Commission is expected to issue a final decision by the end of
the year. If the settlement is modified, the parties would have the option to
withdraw their support.
The agreement, which the signatory parties concluded is in the public interest,
was signed by the Office of Consumer Advocate, Office of Small Business
Advocate, Law Bureau Prosecutory Staff, Pennsylvania Rural Electric Association,
and Allegheny Electric Cooperative. The remaining active parties to the case-
Met-Ed Industrial Users Group, Penelec Industrial Customer Alliance,
International Brotherhood of Electrical Workers locals 459 and 777, Utility
Workers Union of America locals 140 and 180-filed an attachment to the
settlement indicating no objection to the agreement.
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", "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 30, 2004
FIRSTENERGY CORP.
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Registrant
PENNSYLVANIA POWER COMPANY
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Registrant
METROPOLITAN EDISON COMPANY
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Registrant
PENNSYLVANIA ELECTRIC 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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