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) June 20, 2006
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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. below):
[
]
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))
Item
8.01
Other Events.
On
June 20, 2006,
FirstEnergy Corp. announced that its Board of Directors has authorized a
share
repurchase program for up to 12 million shares of common stock. At management’s
discretion, shares may be acquired on the open market or through privately
negotiated transactions, subject to market conditions and other factors.
The
Board’s authorization of the repurchase program does not require FirstEnergy to
purchase any shares and the program may be terminated at any time. FirstEnergy’s
Press Release is attached as Exhibit 99.1 and is incorporated by reference
hereunder.
Item
9.01
Financial Statements and Exhibits.
(c)
Exhibits.
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Exhibit
No.
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Description
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99.1
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Press
Release
issued by FirstEnergy Corp., dated June 20, 2006
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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 typically contain, but are not limited to, the terms
"anticipate," "potential," "expect," "believe," "estimate" and similar words.
Actual results may differ materially due to the speed and nature of increased
competition and deregulation in the electric utility industry, 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 our regulated utilities to collect transition and other charges
or to
recover increased transmission costs, maintenance costs being higher than
anticipated, legislative and regulatory changes (including revised environmental
requirements), and the legal and regulatory changes resulting from the
implementation of the Energy Policy Act of 2005 (including, but not limited
to,
the repeal of the Public Utility Holding Company Act of 1935), 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, adverse
regulatory or legal decisions and outcomes (including, but not limited to,
the
revocation of necessary licenses or operating permits, fines or other
enforcement actions and remedies) of governmental investigations and oversight,
including by the Securities and Exchange Commission, the United States
Attorney’s Office, the Nuclear Regulatory Commission and the various state
public utility commissions as disclosed in the registrant’s Securities and
Exchange Commission filings, generally, and with respect to the Davis-Besse
Nuclear Power Station outage and heightened scrutiny at the Perry Nuclear
Power
Plant in particular, the timing and outcome of various proceedings before
the
Public Utilities Commission of Ohio and the Pennsylvania Public Utility
Commission, including the transition rate plan filings for Met-Ed and Penelec,
the continuing availability and operation of generating units, the ability
of
generating units to continue to operate at, or near full capacity, the inability
to accomplish or realize anticipated benefits from strategic goals (including
employee workforce initiatives), the anticipated benefits from voluntary
pension
plan contributions, 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 successful implementation and completion of the share repurchase
program, the risks and other factors discussed from time to time in the
registrant’s Securities and Exchange Commission filings, including its annual
report on Form 10-K for the year ended December 31, 2005, and other similar
factors. Dividends declared from time to time during any annual period may
in
aggregate vary from the indicated amounts due to circumstances considered
by the
Board at the time of the actual declaration. 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.
SIGNATURE
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
duly
authorized.
June
20,
2006
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FIRSTENERGY
CORP.
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Registrant
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/s/ Harvey
L.
Wagner
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Harvey
L.
Wagner
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Vice
President, Controller
and
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Chief
Accounting
Officer
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