Inspired by open and ongoing dialogue with diverse stakeholders, FirstEnergy is experiencing a period of growth and renewal. We are embracing pivotal changes within our operations and culture that are energizing our company as we further our transformation into a forward-thinking, premier utility.
Guided by our Core Values, our leaders are focused on building a diverse workforce whose business practices are centered on a best-in-class ethics and compliance program. Starting with an integrity-focused tone at the highest levels of our company, we are working together to develop an inclusive and safe culture where employees feel empowered and motivated to speak up and bring their very best every day.
Throughout this cultural transformation, FirstEnergy has maintained strong operational and financial performance, leaving us well positioned to capitalize on long-term, sustainable investments designed to serve over 6 million customers’ evolving energy needs while growing value for shareholders. Our sustainable investment plan, which totals $17 billion from 2021 to 2025, targets 75% formula rate recovery and annual rate base growth of approximately 6%. Looking ahead, we are targeting a 6% to 8% earnings growth rate with a competitive dividend and investment-grade credit ratings, while focusing on growing cash from operations consistent with earnings.
FE Forward initiatives are modernizing our company – driving us to enhance business practices and accelerate our digital transformation. Building on our proven track record of safety and performance excellence, we’re developing ways to increase efficiency and optimize how we manage our assets and resources, while maintaining a sharp focus on customer satisfaction and service reliability.
Using a data-driven approach, we’re building a best-in-class customer experience that will help them explore renewable energy choices, adopt electric vehicles (EV), manage energy use, report outages and navigate payment assistance programs. We’re also improving customer interactions with our contact centers and digital channels, and continuing to support our low-income customers’ needs throughout the transition to a reduced carbon future.
Dedicated to continual improvement and innovation, FirstEnergy is poised to unlock significant growth opportunities that are embedded in a decarbonized economy. We’ve identified over $20 billion in transmission investment opportunities, along with other long-term investments that support EV infrastructure, renewable energy integration, grid reliability and resiliency.
With renewed commitment to transparency, compliance and ethics, and unwavering commitment to our customers, FirstEnergy strives to emerge as an industry-leader, lighting the way toward a low carbon future and continued success.