1. Analyst Meeting
New York, NY • December 6, 2007

2. Analyst Meeting
New York, NY • December 6, 2007
Welcome
Ronald E. Seeholzer
Vice President, Investor Relations

3. Safer Harbor Statement under the Private Securities
Litigation Reform Act of 1995
These Presentations 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 our, or our 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 our actual results,
performance or achievements to be materially different from any future results, performance or achievements 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 Nuclear Regulatory Commission including, but not limited to, the Demand for Information issued to FENOC on May 14, 2007) as
disclosed in our 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 Supreme Court
of Ohio regarding the Rate Stabilization Plan and the Rate Certainty Plan, 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 ability to continue 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 our 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 for
us to predict all such factors, nor can we assess the impact of any such factor on our 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. Dividends declared from time to time on
FirstEnergy's common stock during any annual period may in aggregate vary from the indicated amounts due to circumstances considered by
FirstEnergy's Board of Directors at the time of the actual declarations. Also, a security rating is not a recommendation to buy, sell or hold securities,
and it may be subject to revision or withdrawal at any time and each such rating should be evaluated independently of any other rating. We expressly
disclaim any current intention to update any forward-looking statements contained herein as a result of new information, future events, or otherwise.
Analyst Meeting
New York, NY ▪ December 6, 2007

4. Today’s Agenda
Corporate and Strategic Overview – Tony Alexander
Regulatory Update – Dave Blank
Operations Overview – Gary Leidich
Energy Delivery & Customer Service – Don Schneider
Generation and Commodity Operations – Chuck Jones
Commodity Operations – Ali Jamshidi
Financial Outlook – Rich Marsh
Closing Remarks – Tony Alexander
Q&A
Analyst Meeting
New York, NY ▪ December 6, 2007

5. Analyst Meeting
New York, NY • December 6, 2007
Corporate and Strategic Overview
Tony Alexander
President and CEO

6. Our objectives for 2007 and beyond continue to be
based on the fundamentals.
Objectives
Regulatory
– Recover cost of service
– Transition to market prices A strong and
stable corporation
Capital Management
with a focus on
– Build on our existing generation
the fundamentals
portfolio
– Rebuild our T&D infrastructure
– Operational excellence
Financial Strength & Flexibility – Financial discipline
– Achieve targeted growth
– Management credibility
– Deploy cash effectively
– Continuous improvement
People and Culture
– One company culture
– Continuous learning and
leadership platforms
Analyst Meeting Corporate and Strategic Overview
New York, NY ▪ December 6, 2007
2

7. FirstEnergy’s strategic focus is on making an orderly and
effective transition to competitive market-based pricing.
Transition
2004–2006 2007–2008 2009–2010 2011
Rebuild the core Met-Ed and OH POLR Met-Ed and
Penelec to market Penelec POLR
Rebuild financial to market
– Cost recovery
stability Distribution
rate cases End of CEI
Penn Power
Start the transition transition cost
POLR to market
to market (e.g., End of OE amortization
generation asset and TE
transfer) transition cost
amortization
Analyst Meeting Corporate and Strategic Overview
New York, NY ▪ December 6, 2007
3

8. Legislative Update: Ohio and Pennsylvania
Efforts are underway in both OH and PA on potential
new energy legislation
FirstEnergy actively engaged in the legislative process
Multiple issues being considered…key is to assure a
smooth transition to market in both states
PA still working to enact legislation by end of year
OH legislation likely in the first quarter of 2008
FirstEnergy is positioned in each state
to successfully transition to market
Analyst Meeting Corporate and Strategic Overview
New York, NY ▪ December 6, 2007
4

9. In 2007, we continue to build on the fundamentals
and deliver strong financial results…
Regulatory
Successfully transitioned Penn Power to competitive generation
market prices
Filed distribution rate case requests and competitive generation
procurement proposal for Ohio utilities
Financial
Narrowed EPS guidance to top-half of the original range: $4.15–$4.25*
Expecting to generate $1.7B of cash from operations
Increased dividend 11.1%
Completed accelerated repurchase of approx. 14.4 million shares
Completed $1.3B sale and leaseback transaction on 779 MW of
Mansfield Unit 1
* See GAAP to Non-GAAP reconciliations in the Financial Outlook Appendix.
Analyst Meeting Corporate and Strategic Overview
New York, NY ▪ December 6, 2007
5

10. …And strong operational results.
Operational
Expecting generation output in excess of 81 million MWh –
20% increase from 2003
Added over 300 MW of additional generating capacity through
uprates, wind contracts and peaking enhancements – with
significantly less risk than new plant construction
Continued improvement in T&D reliability metrics – SAIDI down 15%
Achieving top-decile safety performance – 0.89 YTD OSHA rate
On schedule and budget for Air Quality Control (AQC) projects at the
Sammis Plant
NRC accepted Beaver Valley Units 1 & 2 license renewal applications
for review
Analyst Meeting Corporate and Strategic Overview
New York, NY ▪ December 6, 2007
6

11. 2008 – A Challenging Year
No expected rate increases
Higher Ohio transition cost amortization expense
Increased capital expenditures for AQC projects
Continued improvements in distribution reliability
Continued investments in generation fleet capacity
and performance
We have demonstrated our ability to deliver
results and will continue to meet our objectives
Analyst Meeting Corporate and Strategic Overview
New York, NY ▪ December 6, 2007
7

12. 2008 – Expect Modest Improvement in Earnings
As we manage our transition to market, we will
continue to drive performance and deliver results
2007 Non-GAAP Earnings Guidance*
Original (Feb. 2007) $4.05 – $4.25
Revised (Oct. 2007) $4.15 – $4.25
Affirmed (Dec. 2007) $4.15 – $4.25
2008 Non-GAAP Earnings Guidance* $4.15 – $4.35
* See GAAP to Non-GAAP reconciliations in the Financial Outlook Appendix. On a GAAP basis, 2008 EPS is expected to be
$4.23 to $4.43 reflecting an $0.08 gain on the planned sale of non-core assets.
Analyst Meeting Corporate and Strategic Overview
New York, NY ▪ December 6, 2007
8

13. Bottom Line –
FirstEnergy is an attractive risk/reward opportunity
Effectively managing transition
to competitive markets
Realizing full potential of assets
Significant
Earnings
Reinvesting for future growth
Growth
Effectively deploying strong cash flow
Potential
Striving for continuous improvement
Maintaining strategic flexibility
Well-positioned for climate legislation
Analyst Meeting Corporate and Strategic Overview
New York, NY ▪ December 6, 2007
9

14. Analyst Meeting
New York, NY • December 6, 2007
Regulatory Update
Dave Blank
Vice President, Rates and Regulatory Affairs

15. Discussion Topics
Ohio regulatory update
– Distribution rate cases
– Competitive generation procurement proposal
– Supreme Court of Ohio remand on Rate Certainty Plan
Pennsylvania regulatory update
– Commonwealth Court appeal in Met-Ed/Penelec rate cases
– Met-Ed/Penelec comprehensive generation procurement filing
– Penn Power POLR II case
New Jersey regulatory update
– Energy Master Plan
Analyst Meeting Regulatory Update
New York, NY ▪ December 6, 2007
2

16. Ohio Regulatory Update
Distribution Rate Requests
Ohio Edison, CEI and Toledo Edison
Ohio
Case detail
– Request: $332M increase (7% on overall rates)
– Distribution revenue requirements: $212M
– Deferral recovery: $120M
Case schedule
– Filed June 2007, with 2008 test period and
date certain of May 31, 2007
– PUCO Staff report expected early December
– Hearings expected 1st quarter 2008
– 275-day timeline reached in March 2008
– Rates to be effective January 2009 (CEI in May 2009)
Analyst Meeting Regulatory Update
New York, NY ▪ December 6, 2007
3

17. Ohio Regulatory Update
Competitive Generation Procurement Proposal
Ohio Edison, CEI and Toledo Edison
Ohio
On July 10, 2007, filed a comprehensive supply plan for
competitively priced generation service to implement
market provisions of S.B. 3 effective January 1, 2009
Proposal includes:
– Option to phase in generation price increases for residential
tariff groups that experience > 15% increase in avg. total price
– Time-of-day and hourly pricing options
– Renewable energy component
Competitive bid process (CBP) alternatives
– By Customer Class, or
– Slice of System
Analyst Meeting Regulatory Update
New York, NY ▪ December 6, 2007
4

18. Ohio Regulatory Update
Competitive Generation Procurement Proposal (continued)
CBP process
– Descending clock bidding format
Ohio
– Full requirements product (energy, capacity, transmission)
– Individual bidders limited to 75% of total customer load
– Multiple solicitations; three-year ladder
Bids secured in 2008 would be for service beginning
January 1, 2009, and ending:
– May 31, 2010 (17-month)
– May 31, 2011 (29-month)
– May 31, 2012 (41-month)
Subsequent annual bids for 1/3 of load (3-year supply)
Analyst Meeting Regulatory Update
New York, NY ▪ December 6, 2007
5

19. Ohio Regulatory Update
Supreme Court of Ohio Remand on Rate Certainty Plan
Ohio Edison, CEI and Toledo Edison
Ohio
August 29: Supreme Court of Ohio remanded recovery
of deferred fuel costs in distribution rates to PUCO for
further consideration
The Court reaffirmed all other aspects of the
Rate Certainty Plan
September 10: Companies filed a Remand Application
with the PUCO seeking generation-related fuel cost
recovery rider
– Remand remains at PUCO
Analyst Meeting Regulatory Update
New York, NY ▪ December 6, 2007
6

20. Pennsylvania Regulatory Update
Commonwealth Court Appeals & Generation Procurement Filing
Met-Ed and Penelec
PA
Commonwealth Court appeals of rate cases
– $109M net increase effective January 2007
– Pending appeals to Commonwealth Court
– ME & PN - denial of generation relief and tax expense adjustment
– Industrials & OCA - transmission recovery
– Oral arguments expected late 4Q or early 2008
– Decision expected in 2008
Generation procurement filing plan
– ME & PN transition to competitive generation market prices
on January 1, 2011
– Plan to submit generation procurement proposal in 2008
Analyst Meeting Regulatory Update
New York, NY ▪ December 6, 2007
7

21. Pennsylvania Regulatory Update
Penn Power POLR II Case
Penn Power successfully transitioned to
competitive generation market prices on
PA
January 1, 2007
– POLR I RFPs implemented for January 2007–May 2008
– POLR II multiple RFP’s with staggered delivery
June 2008 through May 2011
– Proposed full requirements product by class
– Settlement Agreement filed in September 2007
– Favorable ALJ Recommended Decision received in October 2007
– Anticipate Commission Order in December 2007
RFP Tranches (50 MW)
Group Term
Jan 08 Mar 08 Oct 08 Jan 09 Oct 09 Jan 10
Residential 1 year 2 2 0 0 2 2
Residential 2 year 2 2 2 2 0 0
Commercial 1 year 3 4 3 4 3 4
– Industrial customers on hourly priced default service
Analyst Meeting Regulatory Update
New York, NY ▪ December 6, 2007
8

22. Regulatory Matters
Jersey Central Power & Light
New Jersey Energy Master Plan
NJ – State goals
– Reduce total projected electricity demand by 20% by 2020
– Meet 22.5% of electricity needs with renewable energy
– Reduce air pollution and energy use
– Encourage and maintain economic development
– Achieve a 20% reduction in CAIDI and SAIFI by 2020
– Unit prices at no more than +5% of the regional price level
– Eliminate transmission congestion by 2020
– Detailed draft plan expected by year end 2007
– JCP&L focus: Peak demand management and cost recovery
Analyst Meeting Regulatory Update
New York, NY ▪ December 6, 2007
9

23. appendix
Analyst Meeting Appendix
New York, NY ▪ December 6, 2007
App-1

24. Retail Regulatory Structure
Generation Transmission Distribution Transition Cost
Ohio Edison
RTC thru
Stable rates
Pass thru Fixed rates
thru 2008 2008 – OE, TE
CEI
thru 20081
MISO costs
“g + RSC” 2010 – CEI
Toledo Edison
Market in No CTC ended
In
Penn Power
2007 restriction Jan. 2006
Generation
CTC thru 20102
Met-Ed
POLR rates Pass thru No
thru 2010 PJM costs restriction CTC thru 20092
Penelec
No
JCP&L BGS Supply MTC thru 2018
restriction
CEI fixed through April 2009.
1
NUG recovery thru 2020.
2
Analyst Meeting Appendix
New York, NY ▪ December 6, 2007
App-2

25. Ohio Regulatory Matters
Distribution Rate Requests (as filed)
Proposed Changes in Revenues ($ millions) Total
Current quot;Distributionquot; Revenues $1,118
Proposed Increase:
Associated with RCP Fuel Expense Deferrals 34
Associated with RCP Infrastructure Expense Deferrals 40
Associated with RCP DSM Deferrals (through a rider) 4
Associated with ETP & Ohio Line Extension Deferrals 42
quot;Basequot; Revenue Requirement Increases 212
Total Proposed Increase to quot;Distributionquot; Revenues $332
Proposed quot;Distributionquot; Revenues $1,450
Offsetting RTC Decrease ($594)
Net Decrease, Including Offsets * ($262)
% Decrease, Including Offsets to Total Current Revenues * -5.7%
* Assumes current Generation & Transmission rates
Analyst Meeting Appendix
New York, NY ▪ December 6, 2007
App-3

26. Analyst Meeting
New York, NY • December 6, 2007
Operations Overview –
Strategies / Initiatives
Gary Leidich
Senior Vice President, Operations

27. Operations Strategy
Driving Performance and Delivering Results
Strategic Objectives
Generation Maximizing generation fleet
utilization is key to driving
improved generation margin
Maximizing margins by mitigating
Environmental
risks and minimizing supply costs
Mining existing assets for cost-
effective capacity additions
Energy Delivery Effectively implement
environmental compliance strategy
Continued focus on enhancing
reliability and customer service
Commodity Operations
Implement continuous
improvement initiatives
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
2

28. An Unwavering Commitment to Safety
“Make Safety A Way Of Life”
2.5
2.0
OSHA Incident Rate**
1.5
1.0
1.59
1.44
1.24
0.5 0.96 0.89
0.0
2003 2004 2005 2006 2007 YTD
FE Performance Top Decile* Top Quartile*
* Based on 2006 EEI industry benchmarks
** Per 100 employees
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
3

29. Operational Performance Targets
2011
Operational Performance 2004 2005 2006 2007F 2008F
Targets
Total Generation (million MWh) 76.4 80.2 82.0 82.2 84.7 86.6
Fossil Reliability
Capacity Factor (Baseload %) 84.6 86.9 88.5 81.0 87.2 90.7
Nuclear Reliability
Capability Factor % 89.5 86.2 86.8 90.0 92.9 92.4
Energy Delivery Reliability
Distribution SAIDI (minutes) 159 191 152 128 118 103
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
4

30. Business Planning Principles
Playbook for each business unit
Emphasis on closing gaps to top performance
No ambiguity – clearly defined performance metrics
Issues/challenges identified
Risk management tools applied
Communication
Continuous Improvement initiatives
and specific action plans
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
5

31. Improved Linkage of Operational Execution
and Financial Results
Common template for metrics, assumptions, and initiatives
improves communications
“Sharpened” financials: more efficient and timely
– <2% targeted O&M growth annually
Improved capital portfolio management
– Stabilized Energy Delivery costs
– Sequence Air Quality Control (AQC) costs with other major projects
– Cross-functional peer reviews/challenges
Process for capturing Continuous Improvement initiatives
Operational Financial
Improved Linkage
Decisions Results
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
6

32. Reinvesting in the Business
Capital Expenditures ($ millions)
Business Project Areas 2009F-2011F
Unit 2004 2005 2006 2007F 2008F Average
- Aged infrastructure rebuild
Energy
$455 $724 $650 $746 $730 $730
- Pockets of load growth
Delivery - Reliability improvements
- Improve managing operating risk
$106 $148 $116 $104 $96 $155
Fossil - Upgrade aged equipment
- Environmental / fuel enhancements
- Availability improvements
$141 $173 $229 $149 $131 $260
Nuclear - Dry fuel storage / license renewal
- Materials issues
$29 $45 $39 $88 $86 $75
Corporate - Information Technology, etc
Sub-Total $731 $1,090 $1,034 $1,087 $1,043 $1,220
- Compliance strategy totals - Sammis,
$0 $54 $136 $387 $650 $222 *
AQC Burger Units, Mansfield and Eastlake
Unit 5
Total $731 $1,144 $1,170 $1,474 $1,693 $1,442
* AQC annual expenditures include $500M (2009), $156M (2010), and $11M (2011)
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
7

33. Environmental Strategies
Tactical
– Managed compliance with environmental operating standards to
achieve 100% compliance
Strategic
– Comprehensive environmental compliance and economic analysis
for fossil fleet ready for implementation
– Clean Air Interstate Rule and Clean Air Mercury Rule – effective March 2005
– New Source Review – effective July 1, 2005
– Clean Water Act, Section 316(b) Phase II – effective July 9, 2004
– AQC Group focused to address environmental compliance implementation
plans across the fleet with $1.9B investment through 2011
Long Term
– Actively partner with government agencies, EPRI and equipment
manufacturers to R&D new control technologies and system efficiency
improvements to address potential future emissions regulations
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
8

34. Environmental Strategies
AQC Construction Overview
Sammis Plant (2,233 MW) – $1.65B
– SO2 control (scrubbers) all units
– NOx control (SCRs) Units 6 & 7 (1,200 MW)
NOx control (SNCR) Units 1–5 (1,033 MW) completed
Mansfield Plant (2,490 MW) – $50M
SO2 control (scrubber) upgrades completed
Burger Plant – $180M
– NOx control (SNCR) and SO2 control
Electro-Catalytic Oxidation (ECO)
Units 4 & 5 (312 MW)
Eastlake Plant – $6M
NOx control (SNCR) Unit 5 (597 MW) completed
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
9

35. AQC Upgrades – Sammis Plant
Flue Duct Work – 9,000 tons (9,000 ft.)
Electrical Cable – 9,120 circuits (530 miles)
Foundation Piles – 5,600 piles (445,000 LF)
Concrete – 51,000 cubic yards
Tons of Steel – 17,200 tons
DCS I/O Points – 8,200
Large Bore Pipe – 88,300 ft. (17 miles)
Small Bore Pipe – 13,000 ft. (2.5 miles)
Overland “Pipe” Conveyor – 3.0 miles long
Sammis Plant with computer overlay
of Wet Flue Gas Desulphurization
(WFGD) equipment
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
10

36. Chimney Shell and
Overall Site Construction
Chimney Shell
Completion
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
11

37. Fiberglass Flue –
Spinning Facility
Flue Spinning Mandrill
Fiberglass Strands
for Spinning
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
12

38. “A&B” Absorber Foundations –
Formwork and Underground in
Building Areas
Absorber “C”
Building Steel
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
13

39. Unit 6 SCR Inlet Flues
Unit 6 SCR Inlet Flues
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
14

40. Ammonia Tank Farm Railroad Unloading Slab
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
15

41. Environmental Status
Our generation fleet is well-positioned for the future
Fleet Emission Control Status
2007 2010
Capacity Fleet Capacity Fleet
(MW) % (MW) %
Non-Emitting 4,581 34% 4,638 34%
Coal Controlled
2,626 19% 5,237 38%
(SO2/NOx – full control)
Natural Gas Peaking 1,283 9% 1,283 9%
8,490 62% 11,158 81%
Longer-term environmental considerations
CO2 control – Over 35% of annual fleet output is non-emitting
– Involved in CO2 capture and sequestration R&D
Mercury control – Excellent reduction through “co-benefits”
– Based on current rules and plans, additional equipment not required before 2018
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
16

42. Environmental Strategy
FirstEnergy’s climate activities
CO2 Capture and Storage Technologies
Participating in Global Climate Change Policy
• MRCSP – R.E. Burger Plant Sequestration test well
• Global Roundtable on Climate Change
• ECO2 Carbon Capture – Powerspan
• EPRI Global Climate Policy Costs & Benefits Research
• EPRI research
• EEI Climate Change Policy Subcommittee
• Power Partners
• NEI Climate Change Policy Subcommittee
• Oxy Fuel – B&W
GHG Reduction Technologies & Voluntary Actions
End-user Energy Management
• Asia-Pacific Partnership
• NJ Clean Energy Program
• EPA SF6 Reduction Partnership
• PA Sustainable Energy Fund
• EPRI GHG Reduction and Electric Transportation Research
• Ohio Energy-efficiency Programs
• Climate Vision
Renewables
• DOE 1605(b) Voluntary Reporting of GHGs Program
• 650 MWs Hydro
• Powertree Carbon Company
• >200 MWs Wind Purchase Agreements
Generation Initiatives
Renewal of Nuclear and Hydro Plant
• Fossil plant efficiencies
Operating Licenses
• Nuclear plant uprates
• Continued operation of non-emitting generation
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
17

43. Fossil Operating Performance
2007 Highlights 2008 Look Ahead
– –
Top-quartile safety performance Achieve top-decile safety performance
– –
New monthly all time generation Drive continuous improvement
record set August 2007 through fleet standardization of best
(4.6 million MWh) practices, benchmarking and Fossil
Excellence annual diagnostics
– Environmental projects (AQC) on track
– Continue to focus on transitioning
– Outage performance improving
workforce knowledge and skills to a
– Implemented Fossil Excellence at
new generation of employees
Bay Shore and Sammis (continuous
– Execute Mining Our Assets strategies
improvement)
– Develop and implement a full start-up
– On track for workforce replenishment
testing, training and operation
– Improved performance accountability
strategy for AQC
– Mansfield Unit 3 uprate (30 MW)
2011
Fossil 2007F 2008F
Target
OSHA Incident Rate (per 100 employees) 1.12 1.12 0.80
Total Generation (million MWh) 51.5 52.7 54.6
Capacity Factor (Baseload %) 81.0 87.2 90.7
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
18

44. Nuclear Operating Performance
2007 Highlights 2008 Look Ahead
– –
Top-quartile safety performance Maintain top-quartile safety performance
– –
DB worked > 7.5 million hours Targeting record generation
without a Lost Time Accident (32.0 million MWh)
– Record Fleet Generation projected – Two outages – DB and BV2
(30.7 million MWh)
– Additional 12 MW from DB Caldon
– BV1 uprate (43 MW); BV2 uprate (24 MW) modification
– No forced losses at BV1; BV2 top
– Additional 45 MW from BV power uprate
quartile (0.24%)
– NRC Emergency Preparedness Evaluated
– PY returned to Standard Reactor
Exercises at BV and PY
Oversight Process
– Dry Cask Fuel Storage underway at PY
– NRC accepted BV license renewal application
– Successful NRC Security drills at PY and BV
– Lowest BV dose during fall outage
2011
Nuclear 2007F 2008F
Target
OSHA Incident Rate (per 100 employees) 0.25 0.25 0.25
Total Generation (million MWh) 30.7 32.0 32.0
Capability Factor (%) 90.0 92.9 92.4
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
19

45. Transitioning to our Future
Maximize utilization
Generation
Reinvest to manage reliability
(including
Mining of assets
Commodity Operations)
Maximize margins
Tactical fuel management
Environmental AQC implementation
Climate change
Reliability improvements
Energy Delivery
Reinvest in infrastructure
Well-positioned to Succeed in
Competitive Generation Markets
Analyst Meeting Operations Overview – Strategies / Initiatives
New York, NY ▪ December 6, 2007
20

46. appendix
Analyst Meeting Appendix
New York, NY ▪ December 6, 2007
App-1

47. FirstEnergy’s Position on Global Climate Change
Climate change is a global issue ultimately requiring
a global solution
Technology development is key
– Energy efficiency and demand-side management
– Clean coal technologies
– Carbon capture and sequestration
Significant future impact on price of electricity whether
states are regulated or deregulated
– Be consistent over broad geographic region
– Include reasonable compliance timeframes
– Encourage new cost-effective technologies
Analyst Meeting Appendix
New York, NY ▪ December 6, 2007
App-2

48. Additional Key Technologies FirstEnergy is
Actively Co-Funding
Plug-in hybrid electric
vehicles (PHEV)
– Considerably cleaner than
internal combustion engine
vehicle, including battery
charging
– 30% less GHG
– 15% less SO2 and NOx
– Provides largely off-peak demand,
an opportunity for growth
– Advanced meters are an enabling
technology
Analyst Meeting Appendix
New York, NY ▪ December 6, 2007
App-3

49. Generation – Implementing Plans for the Future
Nuclear license renewal
Current Submit Request Approval New
Expiration (NRC Docket) Expected Expiration
Beaver Valley Unit 1 2016 Submitted 2007* 2009 2036
Beaver Valley Unit 2 2027 Submitted 2007* 2009 2047
Davis-Besse 2017 2010 2012 2037
Perry 2026 2013 2015 2046
* The NRC accepted the application for review
Nuclear steam generator replacements
– Davis-Besse in 2014
– Beaver Valley Unit 2 in 2017
Analyst Meeting Appendix
New York, NY ▪ December 6, 2007
App-4

50. Generation – Implementing Plans for the Future
Nuclear spent fuel storage
– Since 1983, FirstEnergy has collected $494M from the rate-payers
for the long-term storage of used nuclear fuel. At the federal level,
Yucca Mountain has been proposed as a site for long-term storage
and may be available as early as 2017 to receive used fuel, but this
is not likely. If Yucca Mountain is available in 2017, FirstEnergy will
be eligible to ship fuel starting in 2021.
Beaver Valley
Implement dry storage by the end of 2014
Unit 1
Current ongoing criticality analysis will increase storage space
Beaver Valley
Re-rack before 2011 to provide capacity through 2025
Unit 2
Dry storage could then be implemented
Continue with wet storage until 2021
Davis-Besse
Switch back to dry storage in 2022
Perry Implement dry storage before 2011
Analyst Meeting Appendix
New York, NY ▪ December 6, 2007
App-5

51. Analyst Meeting
New York, NY • December 6, 2007
Energy Delivery & Customer Service
Don Schneider
Senior Vice President, Energy Delivery & Customer Service

52. Discussion Topics
Energy Delivery & Customer Service (ED&CS)
Vision, Mission and Focus Areas
Regulated rate base
Our “Game Plan”
Operational performance goals
Transitioning to our Future
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
2

53. ED&CS Vision, Mission and Focus Areas
An industry leading performer that shapes the future of
Vision the energy delivery and customer service business
Providing safe and reliable electric service at a reasonable
Mission cost by leveraging the resources, skills and diversity of
our workforce
Focus Areas
Safety
Customer Satisfaction
Reliability
Financial Performance
Employees
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
3

54. Regulated Rate Base and Sales Growth
Projected Annual Growth
Projected Rate Base –
2011
Regulated Companies (T&D) 2007F 2008F
Target
($ millions)
Net Plant for Rate Base $9,800 $10,100 $11,000
Capital Expenditures, Net of
$394 $365 $330
Depreciation
Average Annual (2009F – 2011F) OH PA NJ
Growth Rate (kWh) 0.9% 1.7% 2.2%
Net Plant for Rate Base ($ millions) $4,420 $3,290 $3,000
# of Customers (millions) 2.1 1.3 1.1
Growing asset base and increased distribution throughput
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
4

55. Our “Game Plan” is about Performance
2011
Focus Area Key Metrics 2007F 2008F
Target
Safety
OSHA Incident Rate** 1.70* 1.62 1.00
Consistently achieve top-decile (1.24)
Reliability
Distribution SAIDI (minutes) 128 118 103
Top-quartile performance SAIDI and
top-decile in TOF
TOF (per circuit) 0.39* 0.31 0.31
Financial Performance
Achieve top-quartile total spend per
Total Cost Per Customer $270 $265 $263
customer
Employees
An environment where employees are
Total Staffing 7,637 7,898 7,995
valued and accountable for the
performance of the business
* Top quartile
** Per 100 employees
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
5

56. Operational Performance Goals
SAIDI Performance Total Cost per Customer
$300
220
Top Quartile
190
$270
160
SAIDI (Minutes)
ED&CS
Total CPC
$240
ED&CS
130
100
$210
Top Quartile
70
$180
40
$150
10
2005 2006 2007 2008 2009 2010 2011 2012
2005 2006 2007 2008 2009 2010 2011 2012
Our strategy is to achieve top-quartile operational performance
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
6

57. Capital Planning Enhancements
Energy Delivery Capital Allocation Tool (E-CAT)
Benchmarked leading performers in the
area of capital allocation Game Plan:
Selected Navigant to help develop Target spend with
capital allocation tool based on an emphasis on
improving reliability
fundamental engineering economics
(quantified benefits) Continued focus
on operational
improvements
E-CAT provides the granularity which
drives our ability to prioritize thousands
of projects based on predicted benefits
Capital planning has undergone a fundamental change to
enhance our financial discipline
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
7

58. Project Management
Driving Discipline and Accountability
Assigned owner for each project
Detailed layout of milestones and subsequent
activities for project completion (Primavera)
Monthly status reports
– Narrative of project status
– Enhanced financial rigor
Execution of our capital plan is being achieved
by driving discipline and accountability
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
8

59. Workforce Management
Power Systems Institute (PSI)
– Started in 2000; partnered with two colleges in Ohio to offer
lineworker training
– Currently, partnerships with 11 local community colleges
and universities across OH, PA and NJ
Enrollment/Hires Started
2008F 2009F
Graduated Hired
2000–2007 Program
Line Workers 276 236 214 123 177
Substation
110 87 82 31 60
Electricians
Total 386 323 296 154 237
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
9

60. Customer Satisfaction
Contact Center Survey
– 81% of customers rated FirstEnergy with a score of 9 or 10
(out of 10)
Collection Effort
– Reduced number of accounts in arrears by 29% since
May 2007
– Deposits received from eligible customers have increased
62% since the beginning of the year
– Justified complaints are down 13% from last year
Improving the interface with our customers
supports our “Game Plan”
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
10

61. Transitioning to our Future
Safety
– Consistently achieve top-decile
performance
Customer Satisfaction
Achieving
– A top performer in our industry
Energy
Reliability
Delivery and
– Top-quartile performance SAIDI
Customer
and top-decile in TOF
Service’s
Financial Performance
Vision
– Achieve top-quartile total spend
per customer
Employees
– An environment where employees
are valued and accountable for
the performance of the business
Analyst Meeting Energy Delivery & Customer Service
New York, NY ▪ December 6, 2007
11

62. Analyst Meeting
New York, NY • December 6, 2007
Generation & Commodity Operations
Integrated Portfolio Overview
Chuck Jones
President, FirstEnergy Solutions

63. Discussion Topics
Diversity and scale of generation fleet
Top-tier operational capability & ongoing commitment
to operational excellence
Integrated Generation, Commodity & Retail operations
Leveraging the value of our existing generating fleet
FirstEnergy Solutions’ (FES) renewable energy strategy
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
2
Integrated Portfolio Overview

64. FirstEnergy Generation – Diversity & Scale
Michigan Ashtabula
Perry 244 MW
Seneca
1,258 MW
Eastlake
Sumpter 451 MW
1,262 MW
340 MW Bay Shore
Stryker Erie
648 MW Lake Shore
18 MW
Yards Creek
Towanda
249 MW
Toledo
200 MW
Cleveland
New Castle
Pennsylvania
Akron
Davis-Besse Edgewater Morristown
Richland
893 MW Newark
48 MW
432 MW
West Lorain Johnstown Reading
545 MW Harrisburg Allenhurst
Trenton
W. H. Sammis
2,233 MW
New
Columbus Beaver Valley Bruce Mansfield
Jersey
R. E. Burger 1,779 MW 2,490 MW
413 MW
Mad River Forked River
60 MW 86 MW
Ohio Unit Mission Strategy
Baseload Peaking Units Other
Load Following
MW MW MW MW
Mansfield 1-3 2,490 Sammis 1-5 1,020 West Lorain 545 OVEC 463
Wind 145
Beaver Valley 1,2 1,779 Eastlake 1-4 636 Seneca 451
Perry 1,258 Bay Shore 2-4 495 Richland 432 Total 608
FirstEnergy Power Sources Sammis 6,7 1,200 Burger 4 -5 312 Sumpter 340
Davis-Besse 893 Lake Shore 245 Yards Creek 200
C Coal 7,469 MW
Eastlake 5 597 Ashtabula 244 Burger 3 & EMDs 101
N Nuclear 3,930
Bay Shore 1 136 Forked River* 86
H Hydro Total Load Following 2,952
651 Mad River 60
G Gas & O Oil 1,599
Total Baseload 8,353
Edgewater 48
Other 608 Stryker 18
Other 63
Total 14,257 MW
Total Peaking Units 2,344 * Sale pending
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
3
Integrated Portfolio Overview

65. Diversity and Scale of Generation Fleet
Fleet Characteristics and Mission-Driven Strategy
Significant scale: FES controls about 14,000 MW
Balanced mix of fuel types
– 38% nuclear; 62% fossil & other (2007F output)
Transportation optionality
– Three delivery options for our largest baseload plants – barge, rail and truck
Geographic diversity
– Participation in two RTOs (MISO and PJM) allows for price discovery and the
ability to take advantage of inter-market price differentials
Baseload/load following strategy optimizes fleet performance
and reliability
– Each unit has a specific mission (baseload, load-following or peaking) that
provides clear operating objectives
– Increases efficiency and reduces wear and tear on baseload units
– More efficient plant operation drives increased output and cost reductions
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
4
Integrated Portfolio Overview

66. Top-Tier Operational Capability
Focus on Cost Control
Mission-driven strategy in Fossil has resulted in significant
reductions in cost since 2004 as well as increased output
In spite of increased AQC-related O&M in 2008–2010, non-fuel
production costs are expected to remain stable
Cost-effective execution of outages is expected to drive
improvement and stability of nuclear non-fuel expenses
Fossil Nuclear
($ / MWh)
($ / MWh)
2004 2005 2006 2007F 2008F
2004 2005 2006 2007F 2008F
Non-Fuel Fuel
Non-Fuel Fuel
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
5
Integrated Portfolio Overview

67. Top-Tier Operational Capability
Continued Improvement of Asset Utilization
Garnered significant nuclear reliability improvements during
2006–2007 outages
Fossil fleet expected to return to top-quartile performance in 2008
– AQC-related outages will lower capacity factors in 2009 and 2010
– Expect to reach top-decile performance levels by 2011
Baseload Capability/Capacity Factors
100%
95%
Factors (%)
90%
85%
80%
75%
2004 2005 2006 2007F 2008F 2011 Target
84.6% 86.9% 88.5% 81.0% 87.2% 90.7%
Fossil baseload
89.5% 86.2% 86.8% 90.0% 92.9% 92.4%
Nuclear
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
6
Integrated Portfolio Overview

68. Integrated Generation, Commodity & Retail Operations
Real-time coordination of fuel burn and unit availability drives
generation dispatch optimization
– Integrated approach maximizes unit profitability and asset value
– Minimize costs when prices are low and maximize revenue when prices
are high
An integrated portfolio outperforms generation-only or retail-only
models
– Mitigates the risk associated with independently managed positions
Proven experience and capabilities in wholesale markets
– Skill, experience and influence in PJM and MISO
– Successful participation in multiple auction structures (BGS, Penn Power RFP)
Strong presence in retail markets provides market intelligence and
maximizes commodity margin
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
7
Integrated Portfolio Overview

69. Integrated Generation, Commodity & Retail Operations
Competitive Skills to Succeed in Competitive Generation Markets
FES Retail provides a retail sales channel for FES generation
– Maximize generation value through higher margin retail sales
FES Retail provides natural hedge for FES POLR obligations
– Integrated wholesale/retail strategy provides natural hedge for shopping
risk inherent in POLR obligation
– Successfully implemented integrated wholesale/retail strategy for
Penn Power market
Focus on competitive electric markets within MISO and PJM
FES Retail ranks #13 out of 81 competitive suppliers (1)
–
– Active participation since 1998 in OH, PA, NJ, MD and MI markets
– Market leader in PA market (Duquesne Light, Penn Power)
– Competitive expertise allows FES Retail to maximize opportunities as
markets transition
Execute wholesale/retail strategy in Ohio when market opens in 2009
(1) Non-residential market share (GW). Source: KEMA Semi-Annual Review of U.S. Retailer Rankings: August 2007
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
8
Integrated Portfolio Overview

70. Maximizing Potential of Generating Fleet
Mining Our Assets – incremental, low-risk investment approach to fleet expansion
Cumulative
Type of MW Addition 2005–2007F 2008F–2011F
MW
Fossil baseload uprates 130 89 219
Fossil load following uprates 0 84 84
Nuclear baseload uprates 92 78 170
Peaking capacity enhancements* 149 0 149
Total MW additions 371 251 622
* Reflects 12 separate projects including returning 70 MW at Burger Unit 3 that has not been available since summer 2005.
Mining Our Assets benefits:
– ~$700/kW average capital cost is competitive vs. current market price of new capacity
– Lower risk than large, long lead-time projects
– Quicker to market
– Low technology and construction risk
Clarity on capacity and ancillary services market structure,
technological advances, and environmental regulations will impact
generation asset decisions in the future
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
9
Integrated Portfolio Overview

71. Maximizing Potential of Generating Fleet
Leading the Way in Procuring Renewable Energy to Meet Growing Demand
FES Wind Energy Portfolio
Renewable
State Overview
Mandate Status Capacity RECs/Year
In-service
145 MW 384 GWh
2007
Drives our
PA 18% by 2020 renewable In-service
70 MW 180 GWh
strategy today 2008
Total: 215 MW 564 GWh
On the horizon
and will impact Leading wind energy supplier in PA
25% by 2025
OH our renewable
(Proposed) Evaluating expansion of current wind
strategy in the
portfolio
future
Considering other renewable
technologies:
Represents a – Solar
–
minimal part of Compressed air
NJ 22.5% by 2020
–
our renewable Biomass
– Land fill gas
requirements
– Anaerobic digestion
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
10
Integrated Portfolio Overview

72. Maximizing Potential of Generating Fleet
Generation Output
100
80
(million MWh)
60
40
20
0
2004 2005 2006 2007F 2008F 2009F 2010F 2011F
29.9 28.7 29.0 30.7 32.0 31.0 32.2 32.0
Nuclear
46.5 51.5 53.0 51.5 52.7 52.4 53.7 54.6
Fossil
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
11
Integrated Portfolio Overview

73. Transitioning to our Future
Diversity and scale of
generation fleet
Top-tier operational capability
and commitment to operational
FES is well-
excellence positioned to
succeed in
Integrated Generation,
competitive
Commodity and Retail
markets
operations
Maximizing potential of
generating fleet
Well-positioned in a carbon-
constrained world
Analyst Meeting Generation & Commodity Operations
New York, NY ▪ December 6, 2007
12
Integrated Portfolio Overview

74. Analyst Meeting
New York, NY • December 6, 2007
Commodity Operations
Ali Jamshidi
Vice President, Commodity Operations

75. Discussion Topics
Near-term commodity hedge positions
Market trends
MISO and PJM overview
Long-term readiness
Analyst Meeting Commodity Operations
New York, NY ▪ December 6, 2007
2

76. Commodity Operations’ Objectives
Maximizing Margins by Mitigating Risks and Minimizing Supply Costs
Effectively manage commodity positions
Effectively deploy generation to meet retail obligations
and capture market opportunities
Enhance fuel supply / logistics to maximize optionality
Efficiently manage purchased power requirements
Employ strict risk management controls and oversight
to minimize exposure to MISO and PJM markets
– Volume and price risks
– Generation availability risks
– Transmission congestion risks
Analyst Meeting Commodity Operations
New York, NY ▪ December 6, 2007
3

77. Expected Supply Portfolio for FES*
Significant reductions in mostly on-peak energy purchases
Expected Total Supply
95 94
90
100
(million MWh)
80
60
40
20
0
2008F 2009F 2010F
11 7 9
Forward / Spot Purchases
32 31 32
Nuclear
52 52 53
Fossil, Hydro, Wind
Supply numbers exclude JCP&L and firm contract portion of ME/PN
•*Assumes move to open market in Ohio in 2009 and beyond
Analyst Meeting Commodity Operations
New York, NY ▪ December 6, 2007
4

78. Expected Sales Portfolio for FES*
Significant increases in higher margin sales
Expected Total Sales
95 94
90
100
(million MWh)
80
60
40
20
0
2008F 2009F 2010F
1 31 29
Retail Auction
12 20 24
Competitive Retail
16 20 21
Forward / Spot Sales
14 19 20
ME/PN PRA Obligations
52 0 0
OH PSA Obligations
Sales numbers exclude JCP&L and firm contract portion of ME/PN
•*Assumes move to open market in Ohio in 2009 and beyond
Analyst Meeting Commodity Operations
New York, NY ▪ December 6, 2007
5

79. PJM Capacity Position
ME and PN have long-term capacity contracts
Beaver Valley nuclear plant (1,779 MW) committed in PJM to cover capacity
position
Covered capacity prior to RPM auction for planning year 2008-2009 to replace
long-term contracts
Committed Seneca pumped storage (451 MW) to PJM as a capacity resource
for planning year 2009 (commencing in June 2009)
Continue to actively explore other options with our assets
PJM Net Capacity
FES View (continuing to serve the ME and PN PRA)
3500
2800
2100
1400
700
MW
0
(700)
(1400)
(2100)
(2800)
(3500)
Jul
Jul
Jul
Jan
Feb
Jun
Jan
Feb
Jun
Jan
Feb
Jun
Oct
Oct
Oct
Mar
Mar
Mar
May
Nov
Dec
May
Nov
Dec
May
Nov
Dec
Sep
Sep
Sep
Aug
Aug
Aug
Apr
Apr
Apr
2008 2009 2010
Includes Beaver Valley, Forked River and Seneca
Analyst Meeting Commodity Operations
New York, NY ▪ December 6, 2007
6

80. Commodity Positions – Policy / Strategy
Coal and Related Commodities
Significantly close positions in the near term
Layer in longer physical term contracts to smooth out
supply costs
Maintain some flexibility in hedging activities to take
advantage of market opportunities
Continuously explore and enhance fuel blends and
inventory management
Use financial hedges as necessary to manage variability
Trade around our assets – no speculative trading
Analyst Meeting Commodity Operations
New York, NY ▪ December 6, 2007
7