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First Energy Upgrades & Expands their Asset Accounting and Tax Solutions

Atlanta, GA (January 18, 2013) First Energy has chosen to upgrade their existing PowerPlan solution to Version 10.3. The release features include faster closing routines and improvements to Tax Provision such as unlimited adjustment months, enhanced reporting, consolidated functionality and improved flexibility. The tax repair automations in this release allow for proper interaction with the CWIP based M-items, processing of the associated retirements (which are not recognized for tax), changes after year-end during the tax review and return process and more. They have scheduled the tax repairs implementation for late March with a go-live in July.

AboutFirstEnergy Corp.:

FirstEnergy Corp., a diversified energy holding company, engages in the generation, transmission, and distribution of electricity in the United States. The company operates in Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates fossil, hydroelectric, nuclear, and wind and solar generating facilities. The company also provides energy-related products and services to wholesale and retail customers. It operates an electric distribution system, including 266,757 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 144,776,431 kilovolt-amperes. The company distributes electricity through 10 utility operating companies within 65,000 square miles in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. FirstEnergy Corp. was founded in 1996 and is headquartered in Akron, Ohio.

About PowerPlan: PowerPlan software provides financial insight into how complex rules and regulations impact your organization – empowering you to make credible decisions that improve overall corporate performance. The integrated solution provides complete visibility starting with forecasting and monitoring to scenario planning and analytics while maintaining financial compliance. For more information, email info@powerplan.com or visit www.powerplan.com.

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For more information contact:
Tiffany Smith
678.223.2711
pr@powerplan.com

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