8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) May 18, 2005

Commission	Registrant; State of Incorporation;	I.R.S. Employer
File Number	Address; and Telephone Number	Identification No.
333-21011	FIRSTENERGY CORP.	34-1843785
	(An Ohio Corporation)
	76 South Main Street
	Akron, OH 44308
	Telephone (800)736-3402
1-2578	OHIO EDISON COMPANY	34-0437786
	(An Ohio Corporation)
	c/o FirstEnergy Corp.
	76 South Main Street
	Akron, OH 44308
	Telephone (800)736-3402
1-2323	THE CLEVELAND ELECTRIC ILLUMINATING COMPANY	34-0150020
	(An Ohio Corporation)
	c/o FirstEnergy Corp.
	76 South Main Street
	Akron, OH 44308
	Telephone (800)736-3402
1-3583	THE TOLEDO EDISON COMPANY	34-4375005
	(An Ohio Corporation)
	c/o FirstEnergy Corp.
	76 South Main Street
	Akron, OH 44308
	Telephone (800)736-3402

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On May 18, 2005, the Public Utilities Commission of Ohio (PUCO) granted the accounting authority for FirstEnergy Corp.'s Ohio electric utility operating companies (Companies) to defer incremental transmission and ancillary service-related charges incurred as a participant in the Midwest Independent Transmission System Operator, Inc. (MISO).

As disclosed by FirstEnergy and its wholly owned subsidiaries, Ohio Edison Company (OE), The Cleveland Electric Illuminating Company (CEI) and The Toledo Edison Company (TE), in their respective Forms 10-K for the year ended December 31, 2004, the Companies filed an Application with the PUCO on December 30, 2004 requesting permission to defer the incremental charges incurred from October 1, 2003 to the date on which the Companies begin to recover these costs in rates.

In its Finding and Order, the PUCO authorized the Companies to defer the incremental MISO charges incurred after December 30, 2004 through January 1, 2006. The PUCO denied the Companies' request to defer the expenses incurred between October 1, 2003 through December 30, 2004. The Finding and Order is available at the PUCO's web site, www.puco.ohio.gov, by referencing case number 04-1931-EL-AAM.

For 2005, FirstEnergy estimates the incremental costs to be approximately $24 million, with approximately one-half of the costs related to each of OE and CEI. The costs are expected to be immaterial to TE. The deferral will amount to approximately $8 million for each of the second, third and fourth quarters of 2005.

On May 18, 2005, FirstEnergy issued a press release and Letter to the Investment Community that provide additional related details. The press release and Letter to the Investment Community are attached hereto as Exhibits 99.1 and 99.2, respectively, and incorporated by reference.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits.

Exhibit No.	Description
99.1	Press release issued by FirstEnergy Corp., dated May 18, 2005
99.2	Letter to the Investment Community, dated May 18, 2005

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Forward-Looking Statement: This Form 8-K includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "believe," "estimate" and similar words. Actual results may differ materially due to the speed and nature of increased competition and deregulation in the electric utility industry, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices, replacement power costs being higher than anticipated or inadequately hedged, the continued ability of our regulated utilities to collect transition and other charges, maintenance costs being higher than anticipated, legislative and regulatory changes (including revised environmental requirements), the receipt of approval from and entry of a final order by the U.S. District Court, Southern District of Ohio on the pending settlement agreement resolving the New Source Review litigation and the uncertainty of the timing and amounts of the capital expenditures (including that such amounts could be higher than anticipated) or levels of emission reductions related to this settlement, adverse regulatory or legal decisions and outcomes (including revocation of necessary licenses or operating permits, fines or other enforcement actions and remedies) of governmental investigations and oversight, including by the Securities and Exchange Commission, the United States Attorney's Office and the Nuclear Regulatory Commission as disclosed in the registrants' Securities and Exchange Commission filings, generally, and with respect to the Davis-Besse Nuclear Power Station outage and heightened scrutiny at the Perry Nuclear Power Plant in particular, the availability and cost of capital, the continuing availability and operation of generating units, the inability to accomplish or realize anticipated benefits from strategic goals, the ability to improve electric commodity margins and to experience growth in the distribution business, the ability to access the public securities and other capital markets, further investigation into the causes of the August 14, 2003, regional power outage and the outcome, cost and other effects of present and potential legal and administrative proceedings and claims related to the outage, the final outcome in the proceeding related to FirstEnergy's Application for a Rate Stabilization Plan in Ohio, the risks and other factors discussed from time to time in the registrants' Securities and Exchange Commission filings, and other similar factors. The registrants expressly disclaim any current intention to update any forward-looking statements contained herein as a result of new information, future events, or otherwise.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

May 18, 2005

                                                 FIRSTENERGY CORP.

                                                           Registrant

                                              OHIO EDISON COMPANY

                                                           Registrant

                                            THE CLEVELAND ELECTRIC

                                              ILLUMINATING COMPANY

                                                           Registrant

                                         THE TOLEDO EDISON COMPANY 

                                                           Registrant

               /s/      Lisa S. Wilson

                         Lisa S. Wilson

                     Assistant Controller

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EX-99.1

EXHIBIT 99.1

News Release	For Release: Upon Receipt
FirstEnergy Corp.
76 South Main Street
Akron, Ohio 44308
www.firstenergycorp.com
News Media Contact:	Investor Relations Contact:
Ellen S. Raines	Kurt E. Turosky
(330) 384-5808	(330) 384-5500

FIRSTENERGY RECEIVES PUCO APPROVAL TO

DEFER 2005 INCREMENTAL TRANSMISSION COSTS

AKRON, Ohio - FirstEnergy Corp. (NYSE: FE) today received approval from the Public Utilities Commission of Ohio (PUCO) to defer for future recovery 2005 charges from the Midwest Independent Transmission System Operator (MISO) incurred by FirstEnergy’s Ohio utility operating companies. Recovery of 2003 and 2004 charges was denied by the PUCO.

The deferred charges for 2005, which are expected to total approximately $24 million, are related to MISO’s operation of the companies’ transmission systems and the daily and hourly spot energy market. A request filed with the PUCO to recover these charges over a five-year period, beginning in 2006, is pending. If approved as filed, recovery of the deferred charges would amount to approximately seven cents per month for residential customers using 500 kilowatt-hours.

Supplemental information is included in a May 18, 2005, letter addressed to the investment community, which is posted on the Investor Information section of FirstEnergy’s Web site, www.firstenergycorp.com/ir.

FirstEnergy is a diversified energy company headquartered in Akron, Ohio. Its subsidiaries and affiliates are involved in the generation, transmission and distribution of electricity, as well as energy management and other energy-related services. Its seven electric utility operating companies comprise the nation’s fifth largest investor-owned electric system, based on 4.4 million customers served within a 36,100-square-mile area of Ohio, Pennsylvania, and New Jersey.

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Forward-Looking Statements:This news release includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements typically contain, but are not limited to, the terms åanticipate,æ åpotential,æ åexpect,æ åbelieve,æ åestimateæ and similar words. Actual results may differ materially due to the speed and nature of increased competition and deregulation in the electric utility industry, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices, replacement power costs being higher than anticipated or inadequately hedged, the continued ability of our regulated utilities to collect transition and other charges, maintenance costs being higher than anticipated, legislative and regulatory changes (including revised environmental requirements), the receipt of approval from and entry of a final order by the U.S. District Court, Southern District of Ohio on the pending settlement agreement resolving the New Source Review litigation and the uncertainty of the timing and amounts of the capital expenditures (including that such amounts could be higher than anticipated) or levels of emission reductionsrelated to this settlement, adverse regulatory or legal decisions and outcomes (including revocation of necessary licenses or operating permits, fines or other enforcement actions and remedies) of governmental investigations and oversight, including by the Securities and Exchange Commission, the United States Attorney's Office and the Nuclear Regulatory Commission as disclosed in our Securities and Exchange Commission filings, generally, and with respect to the Davis-Besse Nuclear Power Station outage and heightened scrutiny at the Perry Nuclear Power Plant in particular, the availability and cost of capital, the continuing availability and operation of generating units, our inability to accomplish or realize anticipated benefits from strategic goals, our ability to improve electric commodity margins and to experience growth in the distribution business, our ability to access the public securities and other capital markets, further investigation into the causes of the August 14, 2003 regional power outage and the outcome, cost and other effects of present and potential legal and administrative proceedings and claims related to the outage, the final outcome in the proceeding related to FirstEnergy's Application for a Rate Stabilization Plan in Ohio, the risks and other factors discussed from time to time in our Securities and Exchange Commission filings, and other similar factors. FirstEnergy expressly disclaims any current intention to update any forward-looking statements contained herein as a result of new information, future events, or otherwise.

(051805)

EX-99.2

EXHIBIT 99.2                                              Terrance G. Howson

                                           Vice President

Investor Relations

FirstEnergy Corp.

76 S. Main Street

Akron, Ohio 44308

Tel 973-401-8519

May 18, 2005

TO THE INVESTMENT COMMUNITY: ¹

Today the Public Utilities Commission of Ohio (åPUCOæ) granted the accounting authority for FirstEnergy Corp.'s Ohio electric utility operating companies ("Companies") to defer their incremental transmission and ancillary service-related charges incurred as a participant in the Midwest Independent Transmission System Operator, Inc. ("MISO"). This letter provides additional details concerning this authorization and includes the PUCO's Finding and Order as an attachment.

Background

On October 1, 2003, FirstEnergy's Ohio transmission facilities were fully integrated into MISO, which is a FERC-approved regional transmission operator ("RTO"). As a result of participation in MISO, the Companies began incurring incremental transmission and ancillary service-related charges under the MISO Open Access Transmission Tariff and Transmission Energy Markets Tariff ("MISO Tariffs").

On December 30, 2004, the Companies filed an Application with the PUCO requesting permission to defer the incremental charges incurred from October 1, 2003 to the date on which the Companies begin to recover these costs in rates (Case No. 04-1931-EL-AAM). The specific incremental charges sought to be deferred included:

·      MISO Day 1 (October 1, 2003) and Day 2 (April 1, 2005) administrative and general costs,

·      Congestion costs,

·      Incremental Network Integration Transmission Service charges, and

·      FERC assessment fees

On March 17, 2005, the Companies filed an amendment to the Application clarifying that the deferral request should also include charges for losses under the MISO tariffs and all other incremental transmission and ancillary service-related costs.

____________________________

¹ Please see the forward-looking statement at the end of this letter

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In an Application for Tariff Adjustment filed concurrent with the initial Application, the Companies proposed to begin recovering these incremental costs on January 1, 2006 through a rider mechanism and to amortize the deferred balance at December 31, 2005, plus carrying charges, over five years, beginning January 1, 2006 through the rider (Case No. 04-1932-EL-ATA). This case is still pending before the PUCO.

May 18, 2005 PUCO Finding and Order

In its Finding and Order issued today, the PUCO authorized the Companies to defer the incremental transmission and ancillary service-related charges incurred after December 30, 2004 and ending January 1, 2006. The PUCO also authorized the Companies to accrue carrying charges on the deferral balances.

The PUCO denied the Companies' request to defer the expenses incurred between October 1, 2003 through December 30, 2004.

Financial Impact

The actual amounts to be deferred will reflect the actual incremental expenses incurred plus carrying charges. For 2005, we estimate the incremental costs to be approximately $24 million. We estimate the deferral will amount to approximately $8 million for each of the second, third, and fourth quarters of 2005.

In today's decision, the PUCO has authorized the deferral of these incremental expenses for future recovery. We look forward to resolution of the pending case, which seeks to begin recovery of these costs in rates.

If you have any questions concerning information in this update, please call Kurt Turosky, Director of Investor Relations, at (330) 384-5500, or me at (973) 401-8519.

Very truly yours,

Terrance G. Howson

Vice President - Investor Relations

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Forward-Looking Statement

This investor letter includes forward-looking statements based on information currently available to management. Such statements are subject to certain risks and uncertainties. These statements typically contain, but are not limited to, the terms "anticipate", "potential", "expect", "believe", "estimate" and similar words. Actual results may differ materially due to the speed and nature of increased competition and deregulation in the electric utility industry, economic or weather conditions affecting future sales and margins, changes in markets for energy services, changing energy and commodity market prices, replacement power costs being higher than anticipated or inadequately hedged, the continued ability of our regulated utilities to collect transition and other charges, maintenance costs being higher than anticipated, legislative and regulatory changes (including revised environmental requirements), the receipt of approval from and entry of a final order by the U.S. District Court, Southern District of Ohio, on the pending settlement agreement resolving the New Source Review litigation and the uncertainty of the timing and amounts of the capital expenditures (including that such amounts could be higher than anticipated) or levels of emission reductions related to this settlement, adverse regulatory or legal decisions and outcomes (including revocation of necessary licenses or operating permits, fines or other enforcement actions and remedies) of government investigations and oversight, including by the Securities and Exchange Commission, the United States Attorney’s Office and the Nuclear Regulatory Commission as disclosed in the registrants’ Securities and Exchange Commission filings, generally, and with respect to the Davis-Besse Nuclear Power Station outage and heightened scrutiny at the Perry Nuclear Power Plant in particular, the availability and cost of capital, the continuing availability and operation of generating units, the inability to accomplish or realize anticipated benefits of strategic goals, the ability to improve electric commodity margins and to experience growth in the distribution business, the ability to access the public securities and other capital markets, further investigation into the causes of the August 14, 2003 regional power outages and the outcome, cost and other effects of present and potential legal and administrative proceedings and claims related to the outages, the final outcome in the proceeding related to FirstEnergy's Application for a Rate Stabilization Plan in Ohio, the risks and other factors discussed from time to time in the registrants' Securities and Exchange Commission filings, including their annual report on Form 10-K for the year ended December 31, 2004, and other similar factors. The registrants expressly disclaim any current intention to update any forward-looking statements contained in this document as a result of new information, future events, or otherwise.

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