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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 11-K
ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
(Mark One)
{X} ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (FEE REQUIRED) for the fiscal year
ended December 30, 1999
OR
{ } TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934 (NO FEE REQUIRED) for the transition
period from _________ to __________.
Commission file number 333-21011
A. Full title of the plan and the address of the plan, if
different from that of the issuer named below:
FIRSTENERGY CORP. SAVINGS PLAN
B. Name of issuer of the securities held pursuant to
the plan and the address of its principal executive
office:
FIRSTENERGY CORP.
76 SOUTH MAIN STREET
AKRON, OH 44308
<PAGE>
Required Information
1. Financial statements with respect to the FirstEnergy Corp.
Savings Plan as of December 30, 1999 and December 30, 1998, prepared
in accordance with the financial reporting requirements of the
Employee Retirement Income Security Act of 1974, as amended,
together with the report and consent of independent accountants.
<PAGE>
FirstEnergy Corp. Savings Plan
Report on Audits of Financial Statements
and Supplemental Schedules
as of December 30, 1999 and 1998
<PAGE>
FirstEnergy Corp. Savings Plan
Index
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Page
Report of Independent Accountants 1
Statements of Net Assets Available for Plan Benefits
as of December 30, 1999 and 1998 2
Statements of Changes in Net Assets Available for Plan
Benefits for the years ended December 30, 1999 and 1998 3
Notes to Financial Statements 4-10
Supplemental Schedules:
Item 27a - Schedule of Assets Held for Investment
Purposes as of December 30, 1999 11
Item 27d - Schedule of Reportable Transactions for the
year ended December 30, 1999 12
All other supplemental schedules are omitted as they are not
applicable or are not required based on the disclosure requirements
of the Employee Retirement Income Security Act of 1974 and
applicable regulations issued by the Department of Labor.
<PAGE>
Report of Independent Accountants
To the Savings Plan Committee of the
FirstEnergy Corp. Savings Plan
In our opinion, the accompanying statements of net assets available
for plan benefits and the related statements of changes in net
assets available for plan benefits present fairly, in all material
respects, the net assets available for plan benefits of the
FirstEnergy Corp. Savings Plan (the "Plan") at December 30, 1999 and
1998, and the changes in net assets available for plan benefits for
the years ended December 30, 1999 and 1998 in conformity with
accounting principles generally accepted in the United States.
These financial statements are the responsibility of the Plan's
management; our responsibility is to express an opinion on these
financial statements based on our audits. We conducted our audits
of these statements in accordance with auditing standards generally
accepted in the United States, which require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements, assessing the
accounting principles used and significant estimates made by
management, and evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis
for the opinion expressed above.
Our audits were conducted for the purpose of forming an opinion on
the basic financial statements taken as a whole. The supplemental
schedules of assets held for investment purposes and reportable
transactions, as of and for the year ended December 30, 1999, are
presented for the purpose of additional analysis and are not a
required part of the basic financial statements but are
supplementary information required by the Department of Labor's
Rules and Regulations for Reporting and Disclosure under the
Employee Retirement Income Security Act of 1974. The supplemental
schedules are the responsibility of the Plan's management. The
supplemental schedules have been subjected to the auditing
procedures applied in the audit of the basic financial statements
and, in our opinion, are fairly stated in all material respects in
relation to the basic financial statements taken as a whole.
/s/PricewaterhouseCoopers, LLP
June 21, 2000
- 1 -
<PAGE>
<TABLE>
<CAPTION>
FirstEnergy Corp. Savings Plan
Statements of Net Assets Available for Plan Benefits
as of December 30, 1999 and 1998
--------------------------------------------------------------------
<S> <C> <C>
Assets 1999 1998
Cash and cash equivalents $ 17,043,868 $ 17,623,842
Company common stock 291,115,461 398,054,869
Capital preservation investments 144,690,101 134,227,777
Domestic equity stocks 302,290,091 211,507,055
International equity stocks 64,756,525 31,177,872
Small cap stocks 18,439,577 21,288,297
Other equities 19,384,837 7,001,911
Balanced fund securities 32,104,359 24,057,942
Participant loans 15,211,277 11,303,759
Interest receivable 781,719 665,700
Employer contributions receivable 15,359,078 10,020,069
Dividend receivable -- 848,989
------------ ------------
Total assets 921,176,893 867,778,082
Liabilities
Investment purchases reimbursement 262,677 208,537
Loans payable 194,150,000 199,850,000
Accrued interest payable 19,469,180 20,077,049
Accrued fees -- 75
Total liabilities 213,881,857 220,135,661
------------ ------------
Net assets available for plan
benefits $707,295,036 $647,642,416
------------ ------------
<FN>
The accompanying notes are an integral part of these financial
statements.
</FN>
</TABLE>
- 2 -
<PAGE>
<TABLE>
<CAPTION>
FirstEnergy Corp. Savings Plan
Statements of Changes in Net Assets Available for Plan Benefits
for the year ended December 30, 1999 and 1998
-------------------------------------------------------------------
<S> <C> <C>
1999 1998
Employee contributions $ 31,276,009 $ 20,110,575
Employer contributions 15,359,078 10,164,632
Interest income and dividends 35,428,075 32,348,493
ESOP interest (19,415,000) (19,985,000)
Fees (869,551) (684,040)
61,778,611 41,954,660
------------ ------------
(Deficiency) excess of net proceeds
from sales of assets over market
value at beginning of year (8,060,951) 668,324
Net unrealized (depreciation)
appreciation on securities (40,094,416) 68,597,288
Distributions to participants (54,041,738) (30,818,732)
Conversion transfers 100,071,114 243,082,052
------------ ------------
Net change in plan assets 59,652,620 323,483,592
Net assets available for plan
benefits, beginning of year 647,642,416 324,158,824
------------ ------------
Net assets available for plan
benefits, end of year $707,295,036 $647,642,416
============ ============
<FN>
The accompanying notes are an integral part of these financial
statements.
</FN>
</TABLE>
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<PAGE>
FirstEnergy Corp. Savings Plan
Notes to Financial Statements
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1. Description of the Plan
The FirstEnergy Corp. Savings Plan (the "Plan") provides
eligible employees of FirstEnergy Corp. ("FE") and its
subsidiaries (the "Companies"), a mechanism through which they
can save and invest part of their income on a tax deferred basis
at regular intervals. Additionally, FE may match employee
contributions with shares of FirstEnergy common stock (see Note
4) held in the Employee Stock Ownership Plan ("ESOP").
Employees may invest their contributions in other investment
options (the "Funds") and all contributions made to employees'
accounts are fully and immediately vested in the Plan. The
purpose of the Plan is to encourage employees to adopt a regular
savings program and to provide additional security for
retirement. Effective July 31, 1998, the FirstEnergy Corp.
Savings Plan Committee approved a change in the name of the Plan
from Ohio Edison System Savings Plan to FirstEnergy Corp.
Savings Plan. Additionally, the Plan changed its year end from
December 31 to December 30. This change did not have a
significant impact on the Plan. The following is a brief
description of the Plan and is provided for general information
purposes only. Employees should refer to the Plan documents for
more complete information.
The Plan is a qualified profit-sharing plan under Section 401(a)
of the Internal Revenue Code of 1954, as amended (the "Code"),
and provides for salary reduction contributions under Section
401(k) of the Code. In general, plans established pursuant to
Section 401(k) of the Code permit eligible employees to defer
current federal and, subject to applicable laws, state and local
income taxes on the portion of their current compensation
represented by the amount of the salary reduction elected. The
amounts, as elected by the employees, are contributed to the
Plan by the Companies through payroll deductions.
The Plan is subject to Title I of the Employee Retirement Income
Security Act of 1974 ("ERISA") but not Title IV because it is an
"individual account plan". Title I establishes reporting and
disclosure requirements, minimum standards for participation,
vesting and benefit accrual, prohibitions governing the conduct
of fiduciaries and provides that ERISA pre-empts other federal,
state and local statutes relating to employee benefits. The
protective benefits of Title IV which relate to insuring pension
benefits by the Pension Benefit Guaranty Corporation are not
applicable to individual account plans.
Every FirstEnergy Corp. employee is eligible to become a
participant in the Plan, herein referred to as "employee" or
"Member", immediately at commencement of employment. Non-
represented employees of Cleveland Electric Illuminating, Toledo
Edison and former employees of Centerior Energy Corporation were
converted from The Centerior Energy Corporation Employee Savings
Plan to the FirstEnergy Corp. Savings Plan effective July 1,
1998. This merger increased net assets available for plan
benefits by $238,925,159. Represented employees of these
companies were converted to the Plan on December 31, 1998. See
Note 8 for details.
Employees may participate in one or more of the Funds through
deferral of compensation. The choice of investments (except the
Companies' matching contributions, which are in the form of
FirstEnergy common stock) are the responsibility of the
individual employee. Transfers between funds are the
responsibility of the employee and may be made on a daily basis.
- 4 -
<PAGE>
Securities in the ESOP Account
The ESOP purchased a total of 10,654,114 shares of Ohio Edison
("OE") common stock from November 1990 to December 1991 for the
purpose of funding the Companies' matching contribution to the
Plan. On November 8, 1997, pursuant to the merger of OE and
Centerior Energy Corporation that created FirstEnergy Corp.
("Merger"), shares of OE common stock were converted into shares
of FirstEnergy common stock on a one-for-one basis.
The Plan borrowed $200 million, referred to herein as the "ESOP
Loan", at a rate of 10% from OE to fund the purchase of the
stock. The ESOP Loan is collateralized by the unallocated
FirstEnergy common stock acquired with the proceeds of the ESOP
Loan. The ESOP Loan is expected to be repaid by December 2005.
Interest payments on the loan are made annually. Additionally,
principal payments may be made sooner if additional shares of
FirstEnergy common stock are needed for distributions to
Members. At December 30, 1999 the outstanding ESOP Loan balance
was $194,150,000.
Requirements for maturing long-term debt are as follows:
1999 $ 11,400,000
2000 14,500,000
2001 18,700,000
2002 23,700,000
2003 29,300,000
2004 35,700,000
2005 60,850,000
------------
$194,150,000
============
ESOP Allocation
Each Member's ESOP allocation is computed the Thursday following
the end of each pay period based on the Companies' matching
contribution (see Note 4) and on the quoted market price of the
FirstEnergy common stock when allocated to the participant's
account.
As principal and interest payments are made on the ESOP Loan,
shares of the FirstEnergy common stock are released from the
ESOP Unallocated Fund and transferred to the ESOP Allocated Fund
where they are made available for distribution to Members.
During 1999 and 1998, respectively, 363,302 and 277,103 ESOP
shares were allocated to Members. An additional allocation of
151,414 and 123,899 ESOP shares in 1999 and 1998, respectively,
were made relative to reinvestments of dividends on the ESOP
shares. Shares were released from the ESOP Unallocated Fund to
the ESOP Allocated Fund for distribution to Members when the
Plan made interest payments of $19,415,000 in 1999 and
$19,985,000 in 1998, which released 459,256 shares in 1999 and
472,740 shares in 1998. On December 31, 1999, a principal
payment of $11,400,000 was made which led to the release of
269,664 additional shares in fiscal 1999. In 1998, a principal
payment of $5,700,000 was also made leading to an additional
release of 131,832 shares.
- 5 -
<PAGE>
As of December 30, 1999 and 1998, there were 6,905,877 and
7,513,449 shares respectively, held in the ESOP Unallocated Fund
at market values of $156,677,084 and $242,308,730, respectively,
and 3,090,810 and 2,611,873 shares, respectively, held in the
ESOP Allocated fund at market values of $70,122,752 and $84,232,917.
The market value of the ESOP common stock is measured by the quoted
market price.
PAYSOP
A component of the Plan consists of a qualified payroll-based
tax credit employee stock ownership plan (PAYSOP) under Section
401(a) and Section 501(a) of the Code.
Under the Economic Recovery Tax Act of 1981, effective January
1, 1983, tax credits were based upon eligible employee
compensation. The regulation permitted the Companies to
contribute to the Trust a maximum of one-half of one percent of
the aggregate compensation of eligible employees and claim a tax
credit on its consolidated federal income tax return equal to
this amount. The amounts allocated to eligible employees were
based upon the proportion of their wages and salaries (to a
maximum of $100,000) to the wages and salaries of total
employees for the year.
The Tax Reform Act of 1986 eliminated the PAYSOP tax credit with
respect to compensation earned in 1987 or later years. As a
result, the Companies have not contributed to the PAYSOP after
the 1986 contribution other than the reimbursement of PAYSOP
administrative expenses.
On November 8, 1997, pursuant to the Merger, shares of OE common
stock held in the PAYSOP were converted into shares of
FirstEnergy common stock on a one-for-one basis.
Dividends are paid annually to Members in the PAYSOP. The
market value of the common stock in the PAYSOP is measured by
the quoted market price.
2. Summary of Accounting Policies
The excess (deficiency) of net proceeds from sales of assets
over market value under the Plan is recognized upon the sale of
investments generally in connection with the termination or
withdrawal from the Plan by Members. Unrealized appreciation or
depreciation, equal to the difference between the cost and the
market value of investments at the applicable valuation date, is
recognized in determining the value of Member accounts. The
excess (deficiency) of net proceeds from sales of assets over
market value calculation methodology is based on the revalued
cost of assets instead of historical cost. The revalued cost is
the market value of an asset at the beginning of the Plan year
or at the time of purchase during the year.
The financial statements have been prepared on the accrual basis
of accounting and all investment management fees are deducted
from investment returns.
The preparation of financial statements in conformity with
accounting principles generally accepted in the United States
requires management to make estimates and assumptions that
affect the amounts recorded in the financial statements and
accompanying notes. Actual results may differ from these
estimates.
- 6 -
<PAGE>
3. Plan Termination
Although the Companies expect that the Plan will be permanent,
the Companies reserve the right to discontinue or terminate the
Plan at any time. If the Plan should be terminated, in whole or
in part, Members will be entitled to withdraw the full value of
their accounts, to the extent allowed by law.
4. Contributions
Employer Contributions
The Companies pay a matching contribution of 50% on the first 6%
of compensation contributed by an employee. In addition, the
Companies may designate a number of performance objectives and
contribute an additional l5% for each objective achieved, up to
a maximum of 25%. The Companies' contributions are always
invested in FirstEnergy common stock.
The Companies' contributions have been pre-funded by the
FirstEnergy common stock held by the ESOP Unallocated Fund.
These shares of FirstEnergy common stock earn dividend income
and are subject to unrealized appreciation and depreciation as
the market value of the FirstEnergy common stock fluctuates.
The dividend income serves to pay the ESOP Loan and related
interest, which results in the release of shares to the ESOP
Allocated Fund as the Companies' matching contribution. To the
extent dividend income is not sufficient to pay the ESOP Loan
and interest, the Companies will contribute cash which is
reflected as employer contributions in the Statements of Changes
in Net Assets Available for Plan Benefits.
Employee Contributions
During 1999 and 1998, employees could invest between 1% and 16%
of their salary in the Plan. Employee contributions may be made
on a before-tax and/or after-tax basis. Under the before-tax
option, deposits are deducted from current taxable income but
are taxable when they are withdrawn from the Plan. The Tax
Reform Act of 1986 limits the maximum annual before-tax
contribution to $10,500 for 1999 and $10,000 for 1998. Prior to
age 59-1/2, an active employee may withdraw before-tax deposits
only under certain hardship conditions (see Note 7).
Employees may make rollover contributions to the Plan of funds
held in other tax-qualified plans which the employee was a
member of prior to becoming employed by the Companies. The
rollover contributions must be the result of a qualified total
distribution from another tax-qualified plan and must be
contributed to the Plan within 60 days after distribution to the
employee.
Both employer and employee contributions under the Plan are held
in a trust fund (Trust) with an independent trustee (State
Street Bank & Trust Company). Employees may choose to invest
their contributions in Funds A, B, C, D, E, F, G, or I (see Note
6) which are offered by the Plan. Employees may also elect to
borrow from their before-tax accounts for certain approved
purposes (Fund H).
- 7 -
<PAGE>
5. Reconciliation to Form 5500
At December 30, 1998, the Plan has received application for
withdrawals in the amount of $34,510 which were not paid at year
end. Pursuant to professional guidance, no payable has been
recorded in the Statements of Net Assets Available for Plan
Benefits at year end. However, the Department of Labor requires
Form 5500 to include these pending withdrawals as liabilities.
There were no reconciling items at December 30, 1999.
6. Descriptions of Funds
The following is a brief description of the Funds currently
available to Members at December 30, 1999:
Fund A - Company Common Stock Fund
This Fund consists entirely of shares of FirstEnergy Corp.
common stock. The Fund provides an opportunity for employees to
increase their common ownership stake in FirstEnergy. The
objective for this Fund is the growth of capital through both
appreciation and current income. The Fund also holds the
Companies' pre-ESOP matching contribution in FirstEnergy common
stock. The common stock is purchased by the Trustee on the open
market. The market value of the common stock is measured by the
quoted market price.
Fund B - Capital Preservation Fund
This Fund consists of guaranteed fixed income contracts issued
by insurance companies and banks, collateralized mortgage
obligations, and short-term money market instruments. These
contracts guarantee interest for a fixed period and the
principal amount of all investments. The average yield of the
contracts was 6.10% and 6.37% for the years 1999 and 1998,
respectively. The crediting interest rate as of December 30,
1999 and 1998 was 6.07% and 5.91%, respectively. The market
value of the Capital Preservation Fund is measured at the
contract value as determined by the insurers and banks and no
valuation reserve in relation to the contract value is deemed
necessary.
Fund C - S&P 500 Index Fund
This Fund is a common/collective trust investing in the S&P 500
stocks. The objective of this Fund is the growth of capital
through both appreciation and investment income. The market
value of the S&P 500 Index Fund is based on the market value per
share determined by the Trustee.
Fund D -Small Cap Fund
This Fund invests in securities of small companies, generally
with capitalizations of $500 million or less, that pay most of
their earnings in dividends. The Fund is well diversified and
holds approximately 400 stocks. The objective of the Fund is to
match or exceed the returns of the Russell 2000 Index with lower
risk.
- 8 -
<PAGE>
Fund E -Balanced Growth Fund
This Fund invests in a diversified portfolio of stocks, bonds
and cash equivalents. The objective of the Fund is to earn, on
an annualized basis, three percent over the return of Long-Term
U.S. Government Bonds. The performance objective is to be
achieved over a 5-year market cycle.
Fund F -Self Managed Fund
Members may invest in a self managed brokerage account option
available through State Street Brokerage Services, Inc. Options
include mutual funds along with any security that is listed on
the NYSE, ASE and NASDAQ.
Fund G - EuroPacific Fund
This Fund is an actively managed portfolio of foreign common
stocks managed by Capital Research & Management Co. The
objective of the Fund is the growth of capital through
appreciation. The market value of the Fund is measured at the
market value per share determined by the investment manager.
Fund H - Loan Fund
The Plan allows participants to borrow from their before-tax,
after-tax and rollover account for certain approved purposes.
When loans are made, they are recorded as interfund transfers.
The repayments of principal and interest are credited to the
participants' account balances within the respective funds. The
employee repays the loan and all related interest through
payroll deductions.
Participants may borrow up to 50 percent of their total account
balance or 100 percent of their before-tax account, whichever is
less. The interest rate charged is based on the prime rate plus
1 percent. Participants may have up to two loans outstanding at
one time. The minimum loan amount is $1,000 and must be repaid
within 6 and 60 months. If the loan is for the purchase of a
principal residence, the loan repayment period can be extended
to 15 years. The maximum loan amount is $50,000.
Fund I - Armada Equity Growth Fund
This is an actively managed Fund specializing in large
capitalization growth-oriented stock issues managed by National
City Bank. The objective of the Fund is the growth of capital
through appreciation.
7. Tax Considerations
The Plan was amended and restated as the FirstEnergy Corp.
Savings Plan effective July 1, 1998. A determination letter
from the Internal Revenue Service has not yet been applied for.
Management believes the Plan is exempt from federal, state and
local income taxes. The federal, state and local income tax
treatments of distributions from the Plan depend upon when they
are made and their form. The withdrawal of the principal amount
of a Member's after-tax contribution is not, however subject to
tax. For tax years beginning after December 31, 1986, the Tax
Reform Act of 1986 requires that an additional tax of 10% be
applied to employee withdrawals from the
- 9 -
<PAGE>
Plan prior to death, disability, attainment of age 59-1/2, or under
certain other limited circumstances.
In the case of withdrawals by a Member employed by the Companies
prior to the attainment of age 59-1/2, the excess of the value
of the withdrawal over the total amount of the Member's after-
tax contributions, is taxable at ordinary income tax rates. The
value of the Company common stock withdrawn is considered to be
its fair market value on the date it is withdrawn.
In the case of a distribution that qualifies as a lump-sum
distribution upon a Member's termination of employment with the
Companies or after attaining the age of 59-1/2, only the excess
of the value of the lump sum distribution over the amount of the
Member's after-tax contributions to the Plan (less withdrawals)
is taxable at ordinary income tax rates. In determining the
value of the lump-sum distribution, the FirstEnergy common stock
distributed in-kind or in cash shall be valued at its original
cost to the Trustee.
8. Merger With Centerior Energy Corporation
On December 31, 1998, union participants in The Centerior Energy
Corporation Employee Savings Plan were merged into the
FirstEnergy Corp. Savings Plan. Assets with a value of
$99,331,712 were transferred to the Plan effective on that day.
9. Subsequent Event
As of January 1, 2000, former Duquesne Light non-union
participants in the Beaver Valley Management 401(k) Plan were
merged into the FirstEnergy Corp. 401(k) Plan. Assets with a
value of $45.1 million transferred into the Plan as of February
2, 2000.
- 10 -
<PAGE>
<TABLE>
FirstEnergy Corp Savings Plan
Item 27a - Schedule of Assets Held for Investment Purposes
as of December 30, 1999
---------------------------------------------------------------------------------------------
<CAPTION>
Current
Identity of Issue Description Cost Value
<S> <S> <C> <C>
State Street STIF Fund Money Market Fund $ 17,043,868 $ 17,043,868
ESOP Unallocated Fund FE Common Stock 129,639,317 156,677,084
ESOP Allocated Fund FE Common Stock 58,536,222 70,122,752
PAYSOP Fund FE Common Stock 1,806,074 2,445,368
Company Common Stock Fund FE Common Stock 69,078,049 61,870,257
EuroPacific Fund International Stocks 45,682,649 64,756,525
(Mutual Fund)
S&P 500 Index Fund S&P 500 Stocks 72,402,506 161,141,751
(Common/Collective Trust)
Small Cap Fund Small Cap Domestic Stocks 19,215,879 18,439,577
(Common/Collective Trust)
Balanced Growth Fund Equities, Fixed Income 27,362,425 32,104,359
Armada Equity Growth Fund Equities 112,300,668 141,148,340
(Mutual Fund)
Self Managed Fund Equities 19,384,837 19,384,837
Capital Preservation Fund GICs, CMOs 144,690,100 144,690,101
</TABLE>
- 11 -
<PAGE>
<TABLE>
FirstEnergy Corp. Savings Plan
Item 27d - Schedule of Reportable Transactions
for the year ended December 30, 1999
-------------------------------------------------------------------------------------------------
<CAPTION>
Number of Total Number Total
Descriptions Purchase Value of of Sales Selling Cost of
of Assets Transactions Purchase Transactions Price Assets Sold Gain/Loss
<S> <C> <C> <C> <C> <C> <C>
State Street STIF Fund 136 32,755,538 246 33,304,294 33,304,294 --
S&P 500 Index Fund 145 25,975,735 108 12,858,532 11,858,693 999,839
Capital Preservation Fund 143 76,578,759 109 66,518,919 66,518,919 --
Armada Equity Growth Fund 89 161,620,596 169 135,813,599 135,250,307 563,292
</TABLE>
- 12 -
<PAGE>
Exhibit A
Consent of Independent Accountants
We consent to the incorporation by reference in the Company's
previously filed Registration Statement (File No. 333-21011) of our
report dated June 21, 2000, on the audits of the FirstEnergy Corp.
Savings Plan as of December 30, 1999 and December 30, 1998 which
report is included in this Annual Report on Form 11-K of
FirstEnergy Corp.
/s/ PricewaterhouseCoopers LLP
Cleveland, Ohio
June 21,2000
- 13 -
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Savings Plan Committee, the administrator of the
FirstEnergy Corp. Savings Plan, has duly caused this annual report
to be signed on its behalf by the undersigned hereunto duly
authorized.
FIRSTENERGY CORP.
SAVINGS PLAN
June 21, 2000
-------------
Date
By: /s/ Richard J. LaFleur
----------------------
Richard J. LaFleur
Chairman
Savings Plan Committee
- 14 -
<PAGE>
June 21, 2000
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Re: FirstEnergy Corp. Savings Plan
Gentlemen:
We transmit herewith for electronic filing with the Securities
and Exchange Commission, pursuant to the Securities Act of 1934, as
amended, an annual report on Form 11-K of the FirstEnergy Corp.
Savings Plan.
Please address any comments regarding the above to the
undersigned at 76 S. Main Street, Akron, OH 44308 (330) 384-5504.
Very truly yours,
FirstEnergy Corp.
By: /s/ N. C. Ashcom
----------------
N. C. Ashcom
Corporate Secretary
- 15 -
<PAGE>
