FirstEnergy Corp. (NYSE:FE) Q3 2023 Earnings Call Transcript

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But moving very much forward on that, it’s active. We are trying to get this done as quickly as possible. But at the same time, making sure that we are getting the right people in the place who will bring the right skills to bear for the things that we are trying to do. And we have a very strong candidate pool for all of those positions that we are recruiting for. So, I am confident we will get success. The timing of it is going to be here in the, I would say, in the near-term and hope to be able to make those announcements shortly. In terms of putting the past behind us, A lot of that heavy lifting had been done by the Board and the management team before I got here. There is active engagement with the OOCIC. We are providing our updates for the DPA with the Department of Justice.

And then for the remaining litigation that’s out there, we are moving forward with that, trying to settle what we can, but put that pass behind us and strongly focused on the future. And I don’t anticipate any unexpected hiccups there.

Gregg Orrill: Okay. Good luck. Thanks.

Brian Tierney: Thanks Gregg.

Operator: Thank you. Our next question comes from the line of Steve Fleishman with Wolfe Research. Please proceed with your question.

Steve Fleishman: Yes. Hi. Good morning.

Brian Tierney: Good morning Steve.

Steve Fleishman: Good morning. Just the cases in Ohio, the Grid Mod and the ESP filing, can you just talk to the schedule there coming up. And I know some of the other utilities have actually have been able to settle ESPs and the like. Is that possible for you?

Brian Tierney: Yes. So, we are in the midst of ESP-5 right now. That case is in flight. We have seen intervener’s testimony. I think staff testimony comes out on Monday. But as you would expect us to do, we are actively engaged in settlement discussions in those cases, trying to positively engage people like the staff and the other interveners and hopeful that we will be able to come to a settlement similar to what the other companies have settled at. I don’t see any reason to think that we won’t be able to do that.

Steve Fleishman: And then on the Grid Mod, would that be kind of part of the same thing or separate?

Brian Tierney: Same thing, slightly behind where we are in ESP-5. But as soon as we get through the ESP, we will get the Grid Mod and hope to be able to settle that as well. There is nothing, Steve, that’s controversial in these. It’s normal course of business, trying to update the rate base and costs that are reflected in those riders, and then hopefully leave those in place until we get to the May ‘24 rate case and then try to get those cleared out and get them reflected in base rates.

Steve Fleishman: Got it. Okay. Thank you.

Brian Tierney: Thanks Steve.

Operator: Thank you. Ladies and gentlemen, this concludes our question-and-answer session and concludes our call today. A replay of the call will be available on FirstEnergy’s Investor Relations website. Thank you for your participation. You may now disconnect your lines.

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