Capitalization (Tables)

12 Months Ended

Dec. 31, 2011

Capitalization, Long-term Debt and Equity [Abstract]

Preferred stock and preference stock authorizations

FirstEnergy and the Utilities were authorized to issue preferred stock and preference stock as of December 31, 2011, as follows:

	Preferred Stock		Preference Stock
	Shares Authorized	Par Value	Shares Authorized	Par Value
FirstEnergy	5,000,000	$100
OE	6,000,000	$100	8,000,000	no par
OE	8,000,000	$25
Penn	1,200,000	$100
CEI	4,000,000	no par	3,000,000	no par
TE	3,000,000	$100	5,000,000	$25
TE	12,000,000	$25
JCP&L	15,600,000	no par
Met-Ed	10,000,000	no par
Penelec	11,435,000	no par
MP	940,000	$100
PE	10,000,000	$0.01
WP	32,000,000	no par

Outstanding consolidated long-term debt and other long-term obligations

The following tables present outstanding long-term debt and capital lease obligations for FirstEnergy, FES and the Utility Registrants as of December 31, 2011 and 2010:

	As of December 31, 2011		As of December 31,
(Dollar amounts in millions)	Maturity Date	Interest Rate	2011			2010
FirstEnergy:
FMBs	2012 - 2038	5.125% - 9.740%	$	2,487		$	1,023
Secured notes - fixed rate	2012 - 2037	3.000% - 7.880%	2,725			2,727
Secured notes - variable rate	2012	0.090%	50			57
Total secured notes			2,775			2,784
Unsecured notes - fixed rate	2012 - 2039	2.225% - 8.250%	10,961			9,351
Unsecured notes - variable rate	2012 - 2013	0.030% - 2.918%	782			770
Total unsecured notes			11,743			10,121
Capital lease obligations			108			54
Unamortized debt premiums			64			83
Unamortized merger fair value adjustments			160			—
Currently payable long-term debt			(1,621		)	(1,486		)
Total long-term debt and other long-term obligations			$	15,716		$	12,579
FES:
Secured notes - fixed rate	2012 - 2018	3.000% - 7.250%	$	899		$	838
Secured notes - variable rate	2012	0.090%	50			434
Total secured notes			949			1,272
Unsecured notes - fixed rate	2012 - 2039	2.250% - 6.800%	2,218			2,562
Unsecured notes - variable rate	2012	0.040% - 0.090%	508			445
Total unsecured notes			2,726			3,007
Capital lease obligations			31			36
Unamortized debt discounts			(2		)	(2		)
Currently payable long-term debt			(905		)	(1,132		)
Total long-term debt and other long-term obligations			$	2,799		$	3,181
OE:
FMBs	2012 - 2038	8.250%	$	407		$	408
Unsecured notes - fixed rate	2015 - 2038	5.450% - 6.875%	750			750
Capital lease obligations			11			7
Unamortized debt discounts			(11		)	(12		)
Currently payable long-term debt			(2		)	(1		)
Total long-term debt and other long-term obligations			$	1,155		$	1,152
CEI:
FMBs	2018 - 2024	5.500% - 8.875%	$	600		$	600
Secured notes - fixed rate	2017	7.880%	300			300
Unsecured notes - fixed rate	2013 - 2036	5.650% - 5.950%	850			850
Unsecured notes due to affiliates	2012 - 2016	7.663%	81			103
Capital lease obligations			8			3
Unamortized debt discounts			(3		)	(3		)
Currently payable long-term debt			(1		)	—
Total long-term debt and other long-term obligations			$	1,835		$	1,853

	As of December 31, 2011		As of December 31,
(Dollar amounts in millions)	Maturity Date	Interest Rate	2011			2010
TE:
Secured notes - fixed rate	2020 - 2037	6.150% - 7.250%	$	600		$	600
Capital lease obligations			1			3
Unamortized debt discounts			(2		)	(3		)
Total long-term debt and other long-term obligations			$	599		$	600
JCP&L:
Secured notes - fixed rate	2012 - 2021	5.250% - 6.160%	$	277		$	310
Unsecured notes - fixed rate	2016 - 2037	4.800% - 7.350%	1,500			1,500
Unamortized debt discounts			(7		)	(8		)
Currently payable long-term debt			(34		)	(32		)
Total long-term debt			$	1,736		$	1,770
Met-Ed:
FMBs			$	—		$	14
Unsecured notes - fixed rate	2013 - 2019	4.875% - 7.700%	700			700
Unsecured notes - variable rate	2012	0.090%	29			29
Total unsecured notes			729			729
Capital lease obligations			4			5
Currently payable long-term debt			(29		)	(29		)
Total long-term debt and other long-term obligations			$	704		$	719
Penelec:
Unsecured notes - fixed rate	2014 - 2038	5.125% - 6.625%	$	1,075		$	1,100
Unsecured notes - variable rate	2012	0.030% - 0.090%	45			20
Total unsecured notes			1,120			1,120
Capital lease obligations			4			—
Unamortized debt discounts			(2		)	(3		)
Currently payable long-term debt			(46		)	(45		)
Total long-term debt and other long-term obligations			$	1,076		$	1,072

Se

Sinking fund requirements for FMBs and maturing long-term debt (excluding capital leases and variable rate PCRBs) for the next five years

The following table presents scheduled debt repayments for outstanding long-term debt, excluding capital leases, fair value purchase accounting adjustments and unamortized debt discounts and premiums, for the next five years as of December 31, 2011. TE does not have any long-term debt payments due during the next five years. PCRBs that can be tendered for mandatory purchase prior to maturity are reflected in 2012.

Year	FirstEnergy		FES		OE		CEI		JCP&L		Met-Ed		Penelec
	(In millions)
2012	$	1,605	$	896	$	—	$	—	$	34	$	29	$	45
2013	1,314		310		—		300		36		150		—
2014	878		125		—		—		38		250		150
2015	1,638		762		150		—		41		—		—
2016	1,050		191		250		—		343		—		—

Outstanding PCRBs for the next three years

The following table classifies the outstanding variable rate put bond PCRBs and variable rate PCRBs by year, excluding unamortized debt discounts and premiums, for the next five years based on the next date on which the debt holders may exercise their right to tender their PCRBs. The Ohio Companies and JCP&L did not have any outstanding PCRBs as of December 31, 2011.

Year	FirstEnergy		FES		Met-Ed		Penelec
	(In millions)
2012	$	901	$	828	$	28	$	45
2013	235		235		—		—
2014	26		26		—		—
2015	313		313		—		—
2016	170		170		—		—

Amounts and percentages of LOCs and Insurance Policies for FirstEnergy, FES and Utilities

The amounts and annual fees for PCRB-related LOCs for FirstEnergy, FGCO, NGC, Met-Ed and Penelec as of December 31, 2011, are as follows:

	Aggregate LOC Amount		Annual Fees
	(In millions)
FGCO	$	365	1.71% to 3.30%
NGC	200		1.71%
Met-Ed	29		1.75%
Penelec	45		1.71% to 1.75%
	$	639