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FirstEnergy Corp. Declares Unchanged Common Stock Dividend

2008-07-15 11:42:00

    AKRON, Ohio, July 15 /EMWNews-FirstCall/ -- The Board of Directors

of FirstEnergy Corp. (NYSE: FE) today declared an unchanged quarterly

dividend of 55 cents per share of outstanding common stock. The dividend

will be payable September 1, 2008, to shareholders of record as of August

7, 2008.

    Forward-Looking Statements: This news release includes forward-looking

statements based on information currently available to management. Such

statements are subject to certain risks and uncertainties. These statements

include declarations regarding our, or our management's, intents, beliefs

and current expectations. These statements typically contain, but are not

limited to, the terms "anticipate," "potential," "expect," "believe,"

"estimate" and similar words. Forward-looking statements involve estimates,

assumptions, known and unknown risks, uncertainties and other factors that

may cause our actual results, performance or achievements to be materially

different from any future results, performance or achievements expressed or

implied by such forward-looking statements. Actual results may differ

materially due to the speed and nature of increased competition in the

electric utility industry and legislative and regulatory changes affecting

how generation rates will be determined following the expiration of

existing rate plans in Ohio and Pennsylvania, 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, the

continued ability of FirstEnergy's regulated utilities to collect

transition and other charges or to recover increased transmission costs,

maintenance costs being higher than anticipated, other legislative and

regulatory changes including revised environmental requirements and

possible greenhouse gas emissions regulation, the uncertainty of the timing

and amounts of the capital expenditures needed to, among other things,

implement the Air Quality Compliance Plan (including that such amounts

could be higher than anticipated) or levels of emission reductions related

to the Consent Decree resolving the New Source Review litigation or other

potential regulatory initiatives, adverse regulatory or legal decisions and

outcomes (including, but not limited to, the revocation of necessary

licenses or operating permits and oversight by the Nuclear Regulatory

Commission including, but not limited to, the Demand for Information issued

to FENOC on May 14, 2007) as disclosed in our SEC filings, the timing and

outcome of various proceedings before the PUCO (including, but not limited

to, the Distribution Rate Cases and the generation supply plan filing for

the Ohio Companies and the successful resolution of the issues remanded to

the PUCO by the Supreme Court of Ohio regarding the Rate Stabilization Plan

and the Rate Certainty Plan, including the deferral of fuel costs) and

Met-Ed and Penelec's transmission service charge filings with the PPUC (as

well as the resolution of the Petitions for Review filed with the

Commonwealth Court of Pennsylvania with respect to the transition rate plan

for Met-Ed and Penelec), the continuing availability of generating units

and their ability to continue to operate at or near full capacity, the

ability to comply with applicable state and federal reliability standards,

the ability to accomplish or realize anticipated benefits from strategic

goals (including employee workforce initiatives), the ability to improve

electric commodity margins and to experience growth in the distribution

business, changing market conditions that could affect the value of assets

held in our nuclear decommissioning trust fund, pension fund and other

trust funds, the ability to access the public securities and other capital

markets and the cost of such capital, the risks and other factors discussed

from time to time in our SEC filings, and other similar factors. Dividends

declared from time to time on FirstEnergy's common stock during any annual

period may in aggregate vary from the indicated amount due to circumstances

considered by FirstEnergy's Board of Directors at the time of the actual

declarations. The foregoing review of factors should not be construed as

exhaustive. New factors emerge from time to time, and it is not possible

for us to predict all such factors, nor can we assess the impact of any

such factor on our business or the extent to which any factor, or

combination of factors, may cause results to differ materially from those

contained in any forward-looking statements. We expressly disclaim any

current intention to update any forward-looking statements contained herein

as a result of new information, future events, or otherwise.

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