The Illuminating Company Wraps Up Projects to Strengthen Electric System in Ashtabula and Lake Counties

- The Illuminating Company, a subsidiary of FirstEnergy Corp. (NYSE: FE), is wrapping up grid modernization work expected to enhance electric service reliability for more than 150,000 customers in Ashtabula and Lake counties.

The Illuminating Company Logo (PRNewsfoto/FirstEnergy Corp.)

Customers will benefit from installation of 37 new automated reclosing devices that will help limit the frequency, duration and scope of service interruptions. The electrical devices work like a circuit breaker in a home that shuts off power when trouble occurs, with the added benefit of automatically reenergizing a power line within seconds for certain types of outages to keep power safely flowing to customers.

Reclosing devices allow utility personnel to automatically restore service to customers rather than sending a crew to investigate, which is especially helpful in rural or hard-to-access areas. This automated technology is safer and more efficient. To determine the best locations for these devices, utility personnel reviewed outage patterns across The Illuminating Company's service territory and identified areas that would benefit from an automated reclosing device.

The projects also include replacing 11 miles of existing power lines with thicker, durable wire designed to withstand tree debris and severe weather elements. New utility poles were installed to support the electrical infrastructure and additional power lines were constructed to connect customers to an alternate circuit, allowing for more flexibility in restoring outages due to events such as storms or vehicle accidents. The work provides a backup power feed that will help keep the lights on for customers if wires or equipment on their regular line are damaged or need to be taken out of service.

In addition, nearly 30 capacitor banks are being installed to help ensure all customers served by a single power line receive the same flow of safe, reliable electric service by evenly distributing electricity down the line.

"This work to modernize our distribution system is necessary to meet the growing energy demands of our customers for many years to come," said Mark Jones , regional president of The Illuminating Company. "The completion of this work ahead of winter is an added bonus because it strengthens our electric system when customers depend on it the most to stay warm, and it will benefit them year-round."

The first phase of this work in this area began in July and should be completed by the end of this year. It is part of The Illuminating Company's Grid Modernization Plan, a three-year investment approved by the Public Utilities Commission of Ohio (PUCO) to modernize the electric distribution system in Ohio . In 2021, the company plans to start the second phase of work in this area, which includes installing nearly 30 additional automated reclosing devices, 37 capacitor banks and other equipment that will benefit thousands of customers in Ashtabula and Lake counties.

The Illuminating Company serves more than 750,000 customers across Ashtabula , Cuyahoga , Geauga , Lake and Lorain counties. Follow The Illuminating Company on Twitter @IlluminatingCo and on Facebook at www.facebook.com/IlluminatingCo .

FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio , Pennsylvania , New Jersey , West Virginia , Maryland and New York . The company's transmission subsidiaries operate approximately 24,500 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at www.firstenergycorp.com . Follow FirstEnergy on Twitter: @FirstEnergyCorp.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/the-illuminating-company-wraps-up-projects-to-strengthen-electric-system-in-ashtabula-and-lake-counties-301179866.html

SOURCE FirstEnergy Corp.

News Provided by PR Newswire via QuoteMedia

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Natural gas, NGLs and crude oil sales:

Sales volumes in the latter half of December were impacted by reduced demand from Bahiagás. As announced on December 17, 2024 , our updated long-term gas sales agreement came into effect on January 1, 2025 . Bahiagás nominations and deliveries for January have commenced at the new contracted daily firm volumes of 400 e 3 m 3 /d.

Corporate Presentation

Alvopetro's updated corporate presentation is available on our website at:
http://www.alvopetro.com/corporate-presentation .

Social   Media

Follow Alvopetro on our social media channels at the following links:
Twitter - https://twitter.com/AlvopetroEnergy
Instagram - https://www.instagram.com/alvopetro/
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Alvopetro Energy Ltd.'s vision is to become a leading independent upstream and midstream operator in Brazil . Our strategy is to unlock the on-shore natural gas potential in the state of Bahia in   Brazil , building off the development of our Caburé and Murucututu natural gas assets and our strategic midstream infrastructure.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

All amounts contained in this new release are in United States dollars, unless otherwise stated and all tabular amounts are in thousands of United States dollars, except as otherwise noted.

Abbreviations:

boepd

=   barrels of oil equivalent ("boe") per day

bopd

=   barrels of oil and/or natural gas liquids (condensate) per day

e 3 m 3 /d

=   thousand cubic metre per day

m 3

=   cubic metre

m 3 /d

=   cubic metre per day

Mcf

=   thousand cubic feet

Mcfpd

=   thousand cubic feet per day

MMcfpd

=   million cubic feet per day

NGLs

=   natural gas liquids

BOE Disclosure . The term barrels of oil equivalent ("boe") may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet per barrel (6Mcf/bbl) of natural gas to barrels of oil equivalence is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. All boe conversions in this news release are derived from converting gas to oil in the ratio mix of six thousand cubic feet of gas to one barrel of oil.

Contracted firm volumes .   The 2025 contracted daily firm volumes of 400 e 3 m 3 /d (before any provisions for take or pay allowances) represents contracted volumes based on contract referenced natural gas heating value. Note that Alvopetro's reported natural gas sales volumes are prior to any adjustments for heating value of Alvopetro natural gas. Alvopetro's natural gas is approximately 7.8%   higher than the contract reference heating value. Therefore, to satisfy the contractual firm deliveries Alvopetro would be required to deliver approximately 371e 3 m 3 /d (13.1MMcfpd).

Forward-Looking Statements and Cautionary Language. This news release contains "forward-looking information" within the meaning of applicable securities laws. The use of any of   the words "will", "expect", "intend" and other similar words or expressions are intended to identify forward-looking information. Forward‐looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to vary significantly from the expectations discussed in the forward-looking statements. These forward-looking statements reflect current assumptions and expectations regarding future events. Accordingly, when relying on forward-looking statements to make decisions, Alvopetro cautions readers not to place undue reliance on these statements, as forward-looking statements involve significant risks and uncertainties. More particularly and without limitation, this news release contains forward-looking information concerning future production and sales volumes and expected sales under the Company's long-term gas sales agreement.   Current and forecasted natural gas nominations are subject to change on a daily basis and such changes may be material.   Forward   -looking statements are necessarily based upon assumptions and judgments with respect to the future including, but not limited to,   expectations and assumptions concerning   forecasted demand for oil and natural gas,   the success of future drilling, completion, testing, recompletion and development activities and the timing of such activities, the performance of producing wells and reservoirs, well development and operating performance, expectations regarding Alvopetro's working interest and the outcome of any redeterminations, the outcome of any disputes, the timing of regulatory licenses and approvals, equipment availability,  environmental regulation, including regulation relating to hydraulic fracturing and stimulation, the ability to monetize hydrocarbons discovered, the outlook for commodity markets and ability to access capital markets, foreign exchange rates, general economic and business conditions, the impact of global pandemics, weather and access to drilling locations, the availability and cost of labour and services, the regulatory and legal environment and other risks associated with oil and gas operations   .   The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be incorrect. Actual results achieved during the forecast period will vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. Although Alvopetro believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Alvopetro can give no assurance that it will prove to be correct. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on factors that could affect the operations or financial results of Alvopetro are included in our annual information form which may be accessed on Alvopetro's SEDAR+ profile at www.sedarplus.ca . The forward-looking information contained in this news release is made as of the date hereof and Alvopetro undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

www.alvopetro.com
TSX-V: ALV, OTCQX: ALVOF

SOURCE Alvopetro Energy Ltd.

Cision View original content: http://www.newswire.ca/en/releases/archive/January2025/06/c5504.html

News Provided by Canada Newswire via QuoteMedia

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