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FirstEnergy president, CEO talks about UA pledge, challenges ahead
By Betty Lin-Fisher
Beacon Journal business writer
Published on Friday, Dec 14, 2007
Ten years after its formation from the merger of Ohio Edison and Centerior Energy, Akron-based FirstEnergy Corp. is a strong company ''positioned better than ever before to meet the challenges that lie ahead,'' its President and Chief Executive Officer Tony Alexander told an Akron Roundtable crowd on Thursday.
Alexander used the opportunity to discuss the company's 10-year history, its challenges ahead and to announce a $2 million pledge to the University of Akron for research into carbon capture and coal-based fuel cells.
As the nation's energy needs continue to grow every year — by 2030 the U.S. Department of Energy has forecasted the demand for electricity in the United States will increase by almost 40 percent — electricity companies will need more than 290,000 megawatts of some type of electricity to meet the demand, Alexander said.
That demand will have to be met with a variety of resources, including coal, nuclear power, wind and other renewables, Alexander said.
Energy efficiency also will play a role in offsetting the electricity needs, ''but to make any significant impact on demand, customers must be willing to invest in making their homes and businesses more energy efficient, or to have their energy use controlled and, quite frankly, I don't believe most customers will easily accept this change.''
For instance, plasma TVs take four times as much electricity to power, he said.
Alexander said it's also important for action soon. To meet the forecast with new nuclear plants would mean 200 to 300 new plants, or up to 10 each year for the next 30 years. Yet, there are none under construction today. And 61 new coal-fired generating plants have been can
celed by utilities or regulators in the last two years because of environmental concerns.
Yet while national debate continues about renewable mandates, nuclear waste and global climate change, ''China is bringing online one new coal-fired generating unit each week and the rest of the world, including China, has 31 new nuclear units under construction,'' he said.
Building new power plants of any sort also takes time and planning, or the resources needed to build the projects will be backlogged, he said.
Alexander also touched on the current political debate in Columbus to re-regulate the electricity industry. ''FirstEnergy believes that competitive markets for generation will provide customers with more choices, lower prices and less risk.''
Alexander confirmed FirstEnergy's commitment to its Akron roots, noting how the company agreed to relocate some operations locally to make room for a Sterling Inc. expansion. FirstEnergy is moving employees from Ghent Road to a new White Pond Drive facility.
''It is critical we support local and state efforts to attract and retain companies in this region, and do whatever it takes to keep a strong economic presence here in the Akron area,'' he said.
The company, which has nearly 14,000 employees (2,000 in the Akron area), is expected to hire more than 1,000 employees a year for the next five or more years to replace those retiring and add to its base.
Betty Lin-Fisher can be reached at
330-996-3724 or blinfisher@
thebeaconjournal.com.
Ten years after its formation from the merger of Ohio Edison and Centerior Energy, Akron-based FirstEnergy Corp. is a strong company ''positioned better than ever before to meet the challenges that lie ahead,'' its President and Chief Executive Officer Tony Alexander told an Akron Roundtable crowd on Thursday.
Get the full article here.
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