Summary: Pennsylvania Power Co. Sep 11
Standard & Poors, September 2011
Abstract
Standard & Poor's Ratings Services bases its ratings on Pennsylvania Power Co. (Penn Power) on the consolidated credit profile of ultimate parent FirstEnergy Corp., a merchant energy and utility holding company. Penn Power is an electricity distribution utility wholly owned by FirstEnergy's subsidiary Ohio Edison and fully regulated by the Pennsylvania Public Utility Commission. It provides electricity distribution service to all customers in its service territory in northwestern Pennsylvania, as well as generation services to those customers choosing the utility as their power supplier. Generation rates were transitioned to market-based rates in 2007 and are determined through a competitive procurement process. We also base the ratings on the parent company's transformation from an integrated electric utility holding company to a...
Companies mentioned in this report are:
- Pennsylvania Power Co.
- Allegheny Energy Inc.
- Cleveland Electric Illuminating Co.
- Jersey Central Power & Light Co.
- Metropolitan Edison Co.
- Monongahela Power Co.
- Ohio Edison Co.
- Pennsylvania Electric Co.
- Potomac Edison Co.
- Toledo Edison Co.
- West Penn Power Co.
- FirstEnergy Corp.
- FirstEnergy Solutions Corp.
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Pennsylvania Power Co.
- Allegheny Energy Inc.
- Cleveland Electric Illuminating Co.
- Jersey Central Power & Light Co.
- Metropolitan Edison Co.
- Monongahela Power Co.
- Ohio Edison Co.
- Pennsylvania Electric Co.
- Potomac Edison Co.
- Toledo Edison Co.
- West Penn Power Co.
- FirstEnergy Corp.
- FirstEnergy Solutions Corp.
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