SEC Asks FirstEnergy for Nuke Data

The plant just became fully operational again in early April.

"This is the first time the plant has operated at 100% in about two years," FirstEnergy announced then. "The performance of the generating equipment [is] nearly flawless, indicating plant equipment is in good condition and ready to support safe, reliable operations."

The company's stock, up 9 cents to $37.49 on Monday, has jumped from the $35 level it saw during last December's delays.

Fleishman, for one, was recommending the stock even during the setbacks. He explained that the "core story" behind FirstEnergy -- including a possible earnings jump two years down the road -- remained intact.

FirstEnergy itself celebrated its recent progress when announcing first-quarter results last month.

"With the restart of Davis-Besse behind us and what we believe to be a strong case for the approval of our Ohio Rate Stabilization Plan," CEO Anthony Alexander stated, "we're better positioned to achieve continued success in 2004 and in the years ahead."

FirstEnergy officially filed a petition this month seeking permission from Ohio regulators to recover costs for "record high" fuel prices and to defer expenses associated with distribution reliability improvements. The company has already secured approval for other parts of a new rate plan.