Home / Business and Economy / FirstEnergy Plans $36B Grid Overhaul by 2030
FirstEnergy Plans $36B Grid Overhaul by 2030
18 Feb
Summary
- FirstEnergy will invest $36 billion through 2030 for infrastructure upgrades.
- AI data centers are driving a significant increase in U.S. electricity demand.
- The company expects compounded annual growth near the top end of 6%-8%.
FirstEnergy has unveiled a comprehensive capital investment plan totaling $36 billion, scheduled through 2030. This initiative focuses on critical upgrades to the electrical grid and related infrastructure, addressing a national surge in power demand. The company's CEO highlighted that over $19 billion of this total is allocated specifically for transmission improvements.
This strategic investment is a direct response to the unprecedented rise in U.S. electricity demand, significantly influenced by the expansion of data centers needed for complex AI computations. Utilities are increasingly shifting modernization costs to consumers through rate adjustments, as demand from industrial electrification and data centers strains existing power networks.
FirstEnergy projects its core earnings to achieve compounded annual growth near the upper limit of its 6%-8% target for the 2026-2030 period. The company reaffirmed its 2026 earnings per share forecast of $2.62 to $2.82, aligning with plans for a $6 billion investment in that year.
