SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) April 17, 2000
Commission Registrant; State of Incorporation; I.R.S. Employer
File Number Address; and Telephone Number Identification No.
- ----------- ----------------------------------------- ------------------
333-21011 FIRSTENERGY CORP. 34-1843785
(An Ohio Corporation)
76 South Main Street
Akron, Ohio 44308
Telephone (800)736-3402
1-2578 OHIO EDISON COMPANY 34-0437786
(An Ohio Corporation)
76 South Main Street
Akron, OH 44308
Telephone (800)736-3402
1-2323 THE CLEVELAND ELECTRIC ILLUMINATING COMPANY 34-0150020
(An Ohio Corporation)
c/o FirstEnergy Corp.
76 South Main Street
Akron, OH 44308
Telephone (800)736-3402
1-3583 THE TOLEDO EDISON COMPANY 34-4375005
(An Ohio Corporation)
c/o FirstEnergy Corp.
76 South Main Street
Akron, OH 44308
Telephone (800)736-3402
<PAGE>
Item 5. Other Events
Reference is made to Item 1. "Business - PUCO Rate Matters", Item
7. "Management's Discussion and Analysis of Financial Condition and Results
of Operations", and Item 8. "Financial Statements and Supplementary Data"
of Form 10-K for the year ended December 31, 1999, filed by FirstEnergy
Corp. (Company), Ohio Edison Company (OE), The Cleveland Electric
Illuminating Company (CEI) and The Toledo Edison Company (TE), for a
discussion of the transition plan filed by the Company with the Public
Utilities Commission of Ohio (PUCO) on behalf of OE, CEI, and TE. On April
17, 2000, the Company and several parties (including the PUCO staff, the
Office of Consumers' Counsel and the Industrial Energy Users - Ohio)
entered into a Stipulation and Recommendation which provides a
comprehensive solution to issues raised in the case. If the PUCO adopts the
Stipulation and Recommendation, OE, CEI and TE will have the opportunity to
recover their transition costs and would anticipate no charges to earnings
resulting from implementation of the transition plan.
A copy of the press release, dated April 17, 2000, issued by
FirstEnergy Corp., relating to the above-described event is attached as
Exhibit 99 hereto.
Item 7. Financial Statements and Exhibits.
(a) Not Applicable.
(b) Not Applicable.
(c) Exhibits.
The following exhibit is filed herewith in accordance with Item
601 of Regulation S-K:
Exhibit No. Description
----------- -----------
(99) Press Release of FirstEnergy Corp., dated
April 17, 2000, announcing that FirstEnergy
Corp. has reached a stipulated agreement with
major parties to the transition filing it made
last December under Ohio's new electricity
restructuring legislation.
- 1 -
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, each Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
April 18, 2000
FIRSTENERGY CORP.
-----------------
Registrant
OHIO EDISON COMPANY
-------------------
Registrant
THE CLEVELAND ELECTRIC
----------------------
ILLUMINATING COMPANY
--------------------
Registrant
THE TOLEDO EDISON COMPANY
-------------------------
Registrant
/s/ Jeffrey R. Kalata
-----------------------------
Jeffrey R. Kalata
Assistant Controller
- 2 -
<PAGE>
Exhibit 99
FirstEnergy Corp. For Release: April 17, 2000
76 South Main Street
Akron, Ohio 44308
www.firstenergycorp.com
News Media Contact:
Ralph J. DiNicola
330-384-5939
FirstEnergy Corp. (NYSE: FE) today announced that it has
reached a stipulated agreement with major parties to the transition
filing it made last December under Ohio's new electricity restructuring
legislation. In addition to FirstEnergy's Ohio electric utility operating
companies - Ohio Edison, The Illuminating Company and Toledo Edison -
parties recommending approval to the Public Utilities Commission of Ohio
(PUCO) include the staff of the PUCO, the Ohio Consumers' Counsel, the
Industrial Energy Users-Ohio, Ohio Council of Retail Merchants, Shell
Energy Services Company, L.L.C., AK Steel Corporation, Kroger Company,
Cleveland Housing Network, Ohio Hospital Association, Consumers League of
Ohio, Neighborhood Housing Services of Toledo, Ashtabula County Community
Action Agency, and Corporation for Ohio Appalachia Development.
H. Peter Burg, FirstEnergy chairman and chief executive
officer, said, "This agreement represents a tough, but fair, compromise
by the parties. It provides customers with additional savings and choice
regarding their electricity supplier, and us with the opportunity to
recover our transition costs."
Major provisions of the agreement include recovery of
transition costs for Ohio Edison through 2006, for Toledo Edison through
mid-2007, and for The Illuminating Company through 2008. Rate programs
for those companies will be extended through December 31, 2007, and
FirstEnergy will make 1,120 megawatts of generating capacity available
through 2005 to marketers, brokers and aggregators at established prices
for sales to the company's retail customers.
FirstEnergy is a diversified energy services holding company
with more than $18 billion in assets and more than $6 billion in annual
revenues. FirstEnergy's electric utility operating companies comprise the
nation's 10th largest electric system, serving 2.2 million electric
customers in Ohio and Pennsylvania. FirstEnergy also serves commercial
and industrial customers in the deregulated energy markets of Delaware,
New Jersey and Pennsylvania. FirstEnergy also is licensed to sell
electricity in Maryland and will begin serving customers there this year.
(041700)
- 3 -
