IEEFA: FirstEnergy financial condition unlikely to improve

The Institute for Energy Economics and Financial Analysis (IEEFA) is mincing no words when it comes to FirstEnergy Corp., one of the largest electric companies in the United States, with more than six million customers in New Jersey, New York, Ohio, Pennsylvania, Maryland and West Virginia. In a new financial analysis of the Ohio-based utility, IEEFA says FirstEnergy is "turning to regulatory capture and ratepayer bailouts as it struggles to reverse a deepening spiral of debt service and revenue declines."

http://www.fierceenergy.com/story/ieefa-firstenergy-financial-condition-unlikely-improve/2014-10-08?utm_medium=nl&utm_source=internal