UNITED
STATES
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) October 30, 2007
Commission
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Registrant;
State of Incorporation;
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I.R.S.
Employer
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File
Number
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Address;
and Telephone Number
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Identification
No.
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333-21011
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FIRSTENERGY
CORP.
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34-1843785
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(An
Ohio Corporation)
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76
South Main Street
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Akron,
OH 44308
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Telephone
(800)736-3402
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2.):
[
]
Written communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
[
]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[
]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
[
]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act
(17 CFR 240.13e-4(c))
On
October 30, 2007,
FirstEnergy Corp. issued two public announcements, which are attached as
Exhibits 99.1 and 99.2 hereto and incorporated by reference. FirstEnergy's
Press
Release and Consolidated Report to the Financial Community contain non-GAAP*
financial measures. Pursuant to the requirements of Regulation G, FirstEnergy
has provided quantitative reconciliations within the Press Release and
Consolidated Report to the Financial Community of the non-GAAP* financial
measures to the most directly comparable GAAP financial measures.
The
Press Release
and Consolidated Report to the Financial Community include normalized earnings
per share, which is not calculated in accordance with GAAP because it excludes
the impact of "special items." Special items reflect the impact on earnings
of
events that are not routine or that may be related to discontinued businesses.
Management believes presenting normalized earnings calculated in this manner
provides useful information to investors in evaluating the ongoing results
of
FirstEnergy's businesses and assists investors in comparing FirstEnergy’s
operating performance to the operating performance of other companies in
the
energy sector. Management believes presenting this non-GAAP* measure provides
useful information to investors in assessing FirstEnergy's normalized operating
performance. FirstEnergy's management frequently references this non-GAAP*
financial measure in its decision-making, using it to facilitate historical
and
ongoing performance comparisons as well as comparisons to the performance
of
peer companies.
The
non-GAAP*
information presented in the Press Release and Consolidated Report to the
Financial Community should be considered in addition to, and not as a substitute
for, the most directly comparable financial measure prepared in accordance
with
GAAP. Also, the non-GAAP* financial measure may not be comparable to
similarly titled measures used by other entities.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
Exhibit
No.
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Description
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99.1
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Press
Release
issued by FirstEnergy Corp., dated October 30, 2007
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99.2
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Consolidated
Report to the Financial Community, dated October 30,
2007
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*This
Form 8-K
contains non-GAAP financial measures. Generally, a non-GAAP financial measure
is
a numerical measure of a company's historical or future financial performance,
financial position, or cash flows that either excludes or includes amounts,
or
is subject to adjustment that has the effect of excluding or including amounts,
that are not normally excluded or included in the most directly comparable
measure calculated and presented in accordance with accounting principles
generally accepted in the United States, or GAAP.
Forward-Looking
Statements: This
Form 8-K
includes forward-looking statements based on information currently
available to management. Such statements are subject to certain risks and
uncertainties. These statements include declarations regarding management’s
intents, beliefs and current expectations. These statements typically contain,
but are not limited to, the terms “anticipate,” “potential,” “expect,”
“believe,” “estimate” and similar words. Forward-looking statements involve
estimates, assumptions, known and unknown risks, uncertainties and other
factors
that may cause actual results, performance or achievements to be materially
different from any future results, performance or achievement expressed or
implied by such forward-looking statements. Actual results may differ materially
due to the speed and nature of increased competition in the electric utility
industry and legislative and regulatory changes affecting how generation
rates
will be determined following the expiration of existing rate plans in Ohio
and
Pennsylvania, economic or weather conditions affecting future sales and margins,
changes in markets for energy services, changing energy and commodity market
prices, replacement power costs being higher than anticipated or inadequately
hedged, the continued ability of FirstEnergy’s regulated utilities to collect
transition and other charges or to recover increased transmission costs,
maintenance costs being higher than anticipated, other legislative and
regulatory changes including revised environmental requirements, the uncertainty
of the timing and amounts of the capital expenditures needed to, among other
things, implement the Air Quality Compliance Plan (including that such amounts
could be higher than anticipated) or levels of emission reductions related
to
the Consent Decree resolving the New Source Review litigation or other potential
regulatory initiatives, adverse regulatory or legal decisions and outcomes
(including, but not limited to, the revocation of necessary licenses or
operating permits and oversight) by the NRC (including, but not limited to,
the
Demand for Information issued to FENOC on May 14, 2007) as disclosed in the
registrant’s SEC filings, the timing and outcome of various proceedings before
the PUCO (including, but not limited
to, the
distribution
rate
cases and the generation supply plan filing for the Ohio Companies and the
successful resolution of the issues remanded to the PUCO by the Ohio Supreme
Court regarding the RSP and RCP, including the deferral of fuel costs) and
the
PPUC (including the resolution of the Petitions for Review filed with the
Commonwealth Court of Pennsylvania with respect to the transition rate plan
for
Met-Ed and Penelec), the continuing availability of generating units and
their
the ability to operate at, or near full capacity, the ability to comply with
applicable state and federal reliability standards, the inability to accomplish
or realize anticipated benefits from strategic goals (including employee
workforce initiatives), the ability to improve electric commodity margins
and to
experience growth in the distribution business, the ability to access the
public
securities and other capital markets and the cost of such capital, the outcome,
cost and other effects of present and potential legal and administrative
proceedings and claims related to the August 14, 2003 regional power
outage, the risks and other factors discussed from time to time in
the registrant’s SEC filings, and other similar factors. The foregoing review of
factors should not be construed as exhaustive. New factors emerge from time
to
time, and it is not possible to predict all such factors, nor assess the
impact
of any such factor on the registrant’s business or the extent to which any
factor, or combination of factors, may cause results to differ materially
from
those contained in any forward-looking statements. The registrant expressly
disclaims any current intention to update any forward-looking statements
contained herein as a result of new information, future events, or
otherwise.
Pursuant
to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto
authorized.
October
30,
2007
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FIRSTENERGY
CORP.
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Registrant
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By:
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Harvey
L.
Wagner
Vice
President, Controller and
Chief
Accounting Officer
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