Transaction
|
Maturity
|
Transaction
|
|||||||||||
Date
|
Date
|
Rate
|
Amount
|
||||||||||
CitiBank
(FirstEnergy Revolver - $1 Billion 3-Year Facility)
|
|||||||||||||
FirstEnergy
|
6/1/2005
|
6/8/2005
|
4.20
|
%
|
$
|
100,000,000
|
|||||||
FirstEnergy
|
06/08/205
|
6/14/2005
|
4.20
|
%
|
$
|
20,000,000
|
|||||||
CitiBank
(FirstEnergy Revolver - $2 Billion 5-Year Facility)
|
|||||||||||||
FirstEnergy
|
6/20/2005
|
|
6/27/2005
|
3.65
|
%
|
$
|
50,000,000
|
||||||
KeyBank
(FirstEnergy - $2 Billion Revolver Swingline)
|
|||||||||||||
FirstEnergy
|
6/20/2005
|
6/21/2005,
6/23/2005
|
3.64
|
%
|
$
|
55,000,000
|
|||||||
FirstEnergy
|
6/22/2005
|
6/23/2005,
6/24/2005
|
3.58
|
%
|
$
|
12,000,000
|
|||||||
FirstEnergy
|
6/27/2005
|
6/28/2005
|
3.73
|
%
|
$
|
5,000,000
|
|||||||
FirstEnergy
|
6/30/2005
|
7/1/2005
|
3.97
|
%
|
$
|
41,000,000
|
Transaction
|
Maturity
|
Transaction
|
|||||||||||
Date
|
Date
|
Rate
|
Amount
|
||||||||||
FirstMerit
(Ohio Edison Company (OE) Bi-Lateral Facility)
|
|||||||||||||
OE
|
4/22/2005
|
4/25/2005
|
3.50
|
%
|
$
|
6,000,000
|
|||||||
OE
|
6/1/2005
|
6/6/2005
|
3.81
|
%
|
$
|
14,000,000
|
|||||||
OE
|
6/8/2005
|
6/9/2005
|
3.75
|
%
|
$
|
10,000,000
|
|||||||
KeyBank
(OE
Bi-Lateral Facility)
|
|||||||||||||
OE
|
4/22/2005
|
4/25/2005
|
3.89
|
%
|
$
|
20,000,000
|
|||||||
OE
|
6/1/2005
|
6/3/2005
|
4.19
|
%
|
$
|
2,000,000
|
|||||||
OE
|
6/2/2005
|
6/3/2005,
6/6/2005
|
4.15
|
%
|
$
|
8,000,000
|
|||||||
Union
Bank of
California (Pennsylvania Electric Company (Penelec) Bi-Lateral
Facility)
|
|||||||||||||
Penelec
|
3/15/2005
|
4/15/2005
|
3.81
|
%
|
$
|
100,000,000
|
|||||||
Penelec
|
4/14/2005
|
5/16/2005
|
4.06
|
%
|
$
|
75,000,000
|
|||||||
Penelec
|
5/16/2005
|
6/15/2005
|
4.13
|
%
|
$
|
75,000,000
|
|||||||
Penelec
|
6/15/2005
|
7/15/2005
|
3.63
|
%
|
$
|
75,000,000
|
Regulated
Money Pool
|
Average
|
Principal
|
|||||
Loan
to/(Borrowing from):
|
Interest
Rate
|
Balance
|
|||||
OE
|
2.9303
|
%
|
$
|
593,020,721
|
|||
Pennsylvania
Power Company (Penn)
|
2.9303
|
%
|
(25,597,081
|
)
|
|||
The
Cleveland
Electric Illuminating Company (CEI)
|
2.9303
|
%
|
(388,417,831
|
)
|
|||
The
Toledo
Edison Company (TE)
|
2.9303
|
%
|
(309,485,404
|
)
|
|||
American
Transmission Systems, Incorporated (ATSI)
|
2.9303
|
%
|
35,461,033
|
||||
Jersey
Central
Power & Light Company (JCP&L)
|
2.9303
|
%
|
(279,104,720
|
)
|
|||
Metropolitan
Edison Company (Met-Ed)
|
2.9303
|
%
|
(34,021,504
|
)
|
|||
Penelec
|
2.9303
|
%
|
(65,887,747
|
)
|
|||
York
Haven
Power Company
|
2.9303
|
%
|
14,829,646
|
Purpose
of
|
||||||||||
Beneficiary
|
Amount
|
Terms
|
Guarantee
|
|||||||
FirstEnergy
Solutions Corp. (FES) (Trading - Electric)
|
||||||||||
Cargill
Power
Markets LLC
|
$
|
2,000,000
|
(a)
|
|
(b)
|
|
||||
Consumers
Energy
|
6,500,000
|
(a)
|
|
(b)
|
|
|||||
Duke
Energy
Marketing America
|
5,000,000
|
(a)
|
|
(b)
|
|
|||||
UBS
AG
|
10,000,000
|
(a)
|
|
(b)
|
|
|||||
FES
(Trading -
Gas)
|
||||||||||
Dominion
Field
Services
|
600,000
|
(a)
|
|
(c)
|
|
|||||
Peoples
Energy
Wholesale Mktg.
|
500,000
|
(a)
|
|
(c)
|
|
|||||
Sprague
Energy
|
100,000
|
(a)
|
|
(c)
|
|
|||||
Tenaska
Gas
Storage LLC
|
2,000,000
|
(a)
|
|
(c)
|
|
|||||
FirstEnergy
Generation Corp. (Fuel Marketing / Coal)
|
||||||||||
Ceredo
Synfuel
|
5,000,000
|
(a)
|
|
(d)
|
|
|||||
CIT
Group/Equipment Financing
|
31,061,000
|
6
years
|
(e)
|
|
||||||
Pacific
Rim
Capital Inc
|
7,000,000
|
4
years
|
(e)
|
|
Purpose
of
|
|||||||
Beneficiary
|
Amount
|
LOC
|
|||||
FirstEnergy
|
|||||||
PJM
Interconnection, LLC
|
$
|
5,000,000
|
(a)
|
|
|||
MYR
Group
Inc.
|
|||||||
C.
N. A.
Insurance
|
29,000
|
(b)
|
|
||||
Zurich
American Insurance
|
14,600,000
|
(c)
|
|
||||
Penn
|
|||||||
Penns
ylvania
Dept. of Environmental Protection Bureau of Land Recycling & Waste
Management
|
11,454,222
|
(d)
|
|
Company
|
Investment
|
|||
(In
Thousands
$)
|
||||
Centerior
Funding Corporation
|
$
|
12,373
|
Company
|
Filing
Date
|
|||
OE
|
April
27,
2005
|
|||
TE
|
April
27,
2005
|
|||
CEI
|
April
27,
2005
|
|||
OE
|
June
28,
2005
|
FirstEnergy
|
Amount
|
Ratio
|
|||||
Common
Equity
|
$
|
8,640,396
|
43.37
|
%
|
|||
Preferred
Stock
|
213,719
|
1.07
|
%
|
||||
Long-Term
Debt
|
10,512,694
|
52.77
|
%
|
||||
Short-Term
Debt
|
554,824
|
2.79
|
%
|
||||
Total
Capitalization
|
$
|
19,921,633
|
100.00
|
%
|
|||
OE
|
|||||||
Common
Equity
|
$
|
2,409,698
|
58.71
|
%
|
|||
Preferred
Stock
|
75,070
|
1.83
|
%
|
||||
Long-Term
Debt
|
1,393,799
|
33.95
|
%
|
||||
Short-Term
Debt
|
226,301
|
5.51
|
%
|
||||
Total
Capitalization
|
$
|
4,104,868
|
100.00
|
%
|
|||
CEI
|
|||||||
Common
Equity
|
$
|
1,854,152
|
41.79
|
%
|
|||
Preferred
Stock
|
-
|
-
|
%
|
||||
Long-Term
Debt
|
2,023,777
|
45.61
|
%
|
||||
Short-Term
Debt
|
559,290
|
12.60
|
%
|
||||
Total
Capitalization
|
$
|
4,437,219
|
100.00
|
%
|
|||
TE
|
|||||||
Common
Equity
|
$
|
827,560
|
49.43
|
%
|
|||
Preferred
Stock
|
126,000
|
7.53
|
%
|
||||
Long-Term
Debt
|
387,432
|
23.14
|
%
|
||||
Short-Term
Debt
|
333,136
|
19.90
|
%
|
||||
Total
Capitalization
|
$
|
1,674,128
|
100.00
|
%
|
Penn
|
|||||||
Common
Equity
|
$
|
349,059
|
62.81
|
%
|
|||
Preferred
Stock
|
14,105
|
2.54
|
%
|
||||
Long-Term
Debt
|
146,941
|
26.44
|
%
|
||||
Short-Term
Debt
|
45,597
|
8.21
|
%
|
||||
Total
Capitalization
|
$
|
555,702
|
100.00
|
%
|
|||
JCP&L
|
|||||||
Common
Equity
|
$
|
3,185,687
|
68.27
|
%
|
|||
Preferred
Stock
|
12,649
|
0.27
|
%
|
||||
Long-Term
Debt
|
1,189,188
|
25.48
|
%
|
||||
Short-Term
Debt
|
279,105
|
5.98
|
%
|
||||
Total
Capitalization
|
$
|
4,666,629
|
100.00
|
%
|
|||
Met-Ed
|
|||||||
Common
Equity
|
$
|
1,284,001
|
61.76
|
%
|
|||
Preferred
Stock
|
-
|
-
|
%
|
||||
Long-Term
Debt
|
694,122
|
33.38
|
%
|
||||
Short-Term
Debt
|
101,021
|
4.86
|
%
|
||||
Total
Capitalization
|
$
|
2,079,144
|
100.00
|
%
|
|||
Penelec
|
|||||||
Common
Equity
|
$
|
1,302,650
|
65.32
|
%
|
|||
Preferred
Stock
|
-
|
-
|
%
|
||||
Long-Term
Debt
|
486,824
|
24.41
|
%
|
||||
Short-Term
Debt
|
204,888
|
10.27
|
%
|
||||
Total
Capitalization
|
$
|
1,994,362
|
100.00
|
%
|
FirstEnergy
|
OE
|
CEI
|
TE
|
||||||||||
Balance,
December 31, 2004
|
$
|
1,856,863
|
$
|
442,198
|
$
|
553,740
|
$
|
191,059
|
|||||
Net
Income
|
337,718
|
103,853
|
54,141
|
8,041
|
|||||||||
Cash
Dividends
on Preferred Stock
|
-
|
(1,317
|
)
|
(1,429
|
)
|
(4,422
|
)
|
||||||
Cash
Dividends
on Common Stock
|
(270,484
|
)
|
(177,000
|
)
|
(124,000
|
)
|
(10,000
|
)
|
|||||
Other
|
-
|
-
|
(1,495
|
)
|
-
|
||||||||
Balance,
June
30, 2005
|
$
|
1,924,097
|
$
|
367,734
|
$
|
480,957
|
$
|
184,678
|
|||||
Penn
|
JCP&L
|
Met-Ed
|
Penelec
|
||||||||||
Balance,
December 31, 2004
|
$
|
87,695
|
$
|
43,271
|
$
|
38,966
|
$
|
46,068
|
|||||
Net
Income
|
30,713
|
69,842
|
32,139
|
27,221
|
|||||||||
Cash
Dividends
on Preferred Stock
|
(1,378
|
)
|
(250
|
)
|
-
|
-
|
|||||||
Cash
Dividends
on Common Stock
|
(8,000
|
)
|
(40,000
|
)
|
(34,000
|
)
|
(30,000
|
)
|
|||||
Other
|
-
|
-
|
1
|
-
|
|||||||||
Balance,
June
30, 2005
|
$
|
109,030
|
$
|
72,863
|
$
|
37,106
|
$
|
43,289
|
(In
Thousands
|
||||
FirstEnergy
Generation Corp.
|
$
|
1,015,544
|
||
Termobarranquilla
S. A.
|
46,551
|
|||
Aggregate
Investment in EWGs
|
$
|
1,062,095
|
* |
Total
capitalization
|
$
|
19,921,633
|
5.3
|
%
|
|||
Net
utility
plant
|
$
|
13,652,235
|
7.8
|
%
|
|||
Total
consolidated assets
|
$
|
31,211,243
|
3.4
|
%
|
|||
Market
value
of common equity
|
$
|
15,868,423
|
6.7
|
%
|
|
FirstEnergy’s
Investment at
06/30/05
|
FirstEnergy’s
%
Equity
|
Owners
not
affiliated with FirstEnergy
|
||||||||||
Associate Company |
($000)*
|
Ownership
|
Name
of Entity
|
Type
of
Entity
|
|||||||||
Termobarranquilla
S.A. (a)
|
$
|
46,551
|
0
|
%
|
ABB
Energy
Ventures, Inc.
|
Foreign
|
|||||||
Lancaster
Steel
|
Foreign
|
||||||||||||
|
Distral
Group
|
Foreign
|
|||||||||||
|
Corp.
Electrica
|
Foreign
|
|||||||||||
Corp.
Electrica
|
|||||||||||||
De
la
Costa
|
|||||||||||||
Atlantica
|
|||||||||||||
|
Darby
Mazzanine
|
||||||||||||
Holdings,
LLC
|
|||||||||||||
FirstEnergy
Generation Corp.
|
1,015,544
|
100
|
%
|
Not
Applicable
|
N/A
|
||||||||
Total
Aggregate Investment in EWGs
|
$
|
1,062,095
|
(a) |
FirstEnergy
sold Termobarranquilla S.A. on January 31, 2004. The remaining investment
represents outstanding LOCs issued by
FirstEnergy.
|
Amount
(000’s)
|
Ratio
|
||||||
Common
equity
|
$
|
8,640,396
|
43.3
|
%
|
|||
Preferred
stock not subject to mandatory redemption
|
213,719
|
1.1
|
%
|
||||
Long-term
debt
|
10,512,694
|
52.8
|
%
|
||||
Notes
payable
|
554,824
|
2.8
|
%
|
||||
Total
capitalization
|
$
|
19,921,633
|
100.0
|
%
|
Closing
Market
Price per Share
|
$48.11
|
|||
Book
Value per
Share
|
$
|
26.34
|
||
Market-to
Book
Ratio of Common Stock
|
182.6
|
%
|
(In
Thousands)
|
||||
Retained
Earnings as of 06/30/05
|
$
|
1,924,097
|
||
Retained
Earnings as of 12/31/04
|
1,856,863
|
|||
Growth
in
Retained Earnings
|
$
|
67,234
|
||
Analysis
of
Growth in Retained Earnings:
|
||||
Income
contribution from regulated utility companies
|
$
|
313,954
|
||
Income
contribution from EWGs
|
28,595
|
|||
Income
contribution from all other companies
|
69,347
|
|||
FirstEnergy
Holding and Service companies
|
(74,178
|
)
|
||
Cash
dividends
declared on common stock
|
(270,484
|
)
|
||
Growth
in
Retained Earnings
|
$
|
67,234
|
FirstEnergy
Corp.
|
||
August
18,
2005
|
||
By:
|
/s/
Harvey L. Wagner
|
|
|
Harvey L. Wagner
Vice
President, Controller
And
Chief
Accounting Officer
(Principal
Accounting Officer)
|