Business & Finance
Business and Finance
Business and Finance
Fri, December 16, 2011
IBEW Local 459 Ratifies Four-Year Contract With Penelec
IBEW Local 459 Ratifies Four-Year Contract With Penelec -- READING, Pa., Dec. 16, 2011 /PRNewswire/ --
IBEW Local 459 Ratifies Four-Year Contract With Penelec
READING, Pa., Dec. 16, 2011 /PRNewswire/ -- FirstEnergy Corp. (NYSE: [ FE ]) announced today that employees of its Pennsylvania Electric Company (Penelec) represented by the International Brotherhood of Electrical Workers (IBEW) Local 459 ratified a new four-year contract agreement. The new contract takes effect May 15, 2012, and expires May 14, 2016.
There will be a 3 percent wage increase for all Local 459 employees each year of the contract. The contract also provides an equity adjustment of $0.40 per hour for line and substation personnel.
"We are pleased that a new contract has been ratified so we can all continue to focus on our most important job – safely providing Penelec customers with the high-quality service they expect and deserve," said John Skory, Penelec regional president.
IBEW Local 459 represents more than 500 Penelec linemen, substation electricians, meter readers and support personnel in an 18,000 square-mile service territory in 31 Pennsylvania counties. Penelec serves nearly 600,000 customers.
FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies comprise the nation's largest investor-owned electric system. Its diverse generating fleet features non-emitting nuclear, scrubbed baseload coal, natural gas, and pumped-storage hydro and other renewables, and has a total generating capacity of nearly 23,000 megawatts.
SOURCE FirstEnergy Corp.
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