FirstEnergy Solutions Completes Financial Restructuring, Emerges As Energy Harbor

February 27, 2020

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Copyright 2010-20 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Energy Harbor Corp., formerly known as FirstEnergy Solutions, announced today that the company has successfully completed its chapter 11 restructuring process and has emerged as an independent power producer and retail supplier no longer affiliated with FirstEnergy Corp.

The company serves nearly one million residential, commercial and industrial customers

John Kiani, Executive Chairman of Energy Harbor said, "Combined with our rapidly growing retail business and dependable clean air credit support, the majority of Energy Harbor’s cash flow will be comprised of high quality, visible and predictable zero carbon businesses."

"[O]ur strong balance sheet and dependable baseload portfolio allow us to provide our retail customers and local communities with safe and reliable power, which is critical for grid stability," said Energy Harbor President and Chief Executive Officer John Judge.

Members of the company’s newly appointed Board of Directors, led by Kiani, include:

• John Kiani, Executive Chairman

• John W. Judge, Energy Harbor President and Chief Executive Officer

• Stephen E. Burnazian, Energy Harbor Executive Vice President of Corporate Development and Corporate Secretary

• John W. (Bill) Pitesa, former Chief Nuclear Officer at Duke Energy

• Kevin T. Howell, Chairman of the Board of Atlantic Power Corp.

• Jennifer R. Kneale, Chief Financial Officer of Targa Resources Corp.

• Douglas G. Johnston, CFA, Managing Director and Senior Research Analyst at Nuveen

• John C. Blickle, President of Rubber City Arches

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