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PENSION AND OTHER POST-EMPLOYMENT BENEFITS (Tables) | 9 Months Ended
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Sep. 30, 2023
Retirement Benefits [Abstract] |
Schedule of Components of Net Periodic Benefit Costs | The components of FirstEnergy’s net periodic benefit costs (credits) for pension and OPEB were as follows:
Components of Net Periodic Benefit Costs (Credits) |  | Pension | OPEB
For the Three Months Ended September 30, |  | 2023 |  | 2022 |  | 2023 |  | 2022
|  | (In millions)
Service costs |  | $ | 35 |  |  | $ | 46 |  |  | $ | 1 |  |  | $ | 1 |
Interest costs |  | 106 |  |  | 68 |  |  | 5 |  |  | 3 |
Expected return on plan assets |  | (151) |  |  | (164) |  |  | (7) |  |  | (10) |
Amortization of prior service costs (credits) (1) |  | 1 |  |  | 1 |  |  | (3) |  |  | (3) |
Special termination benefits (2) |  | 13 |  |  | — |  |  | 5 |  |  | — |
Net periodic benefit costs (credits) |  | $ | 4 |  |  | $ | (49) |  |  | $ | 1 |  |  | $ | (9) |
Net periodic benefit costs (credits), net of amounts capitalized |  | $ | (15) |  |  | $ | (77) |  |  | $ | 1 |  |  | $ | (9) |
(1) The income tax benefits associated with pension and OPEB prior service costs amortized out of AOCI were $1 million for the three months ended September 30, 2022, and immaterial for the three months ended September 30, 2023. (2) Related to benefits provided in connection with the PEER.
Components of Net Periodic Benefit Costs (Credits) |  | Pension | OPEB
For the Nine Months Ended September 30, |  | 2023 |  | 2022 |  | 2023 |  | 2022
|  | (In millions)
Service costs |  | $ | 104 |  |  | $ | 138 |  |  | $ | 2 |  |  | $ | 3 |
Interest costs |  | 322 |  |  | 204 |  |  | 16 |  |  | 8 |
Expected return on plan assets |  | (421) |  |  | (492) |  |  | (23) |  |  | (30) |
Amortization of prior service costs (credits) (1) |  | 2 |  |  | 2 |  |  | (7) |  |  | (8) |
Special termination benefits (2) |  | 18 |  |  | — |  |  | 7 |  |  | — |
Pension and OPEB mark-to-market adjustment |  | (59) |  |  | — |  |  | — |  |  | — |
Net periodic benefit credits |  | $ | (34) |  |  | $ | (148) |  |  | $ | (5) |  |  | $ | (27) |
Net periodic benefit credits, net of amounts capitalized |  | $ | (88) |  |  | $ | (218) |  |  | $ | (6) |  |  | $ | (28) |
(1) The income tax benefits associated with the pension and OPEB prior service costs amortized out of AOCI were $1 million and $2 million for the nine months ended September 30, 2023 and 2022, respectively. (2) Related to benefits provided in connection with the PEER.
Schedule of Assumptions Used to Determine Net Periodic Benefit Cost |
Assumptions for 2023 net periodic credits |  | Pension |  | OPEB
Effective rate for interest costs on benefit obligations (1) |  | 5.10%/4.80% |  | 5.06 | %
Effective rate for service costs (1) |  | 5.34%/5.11% |  | 5.41 | %
Effective rate for interest on service costs (1) |  | 5.22%/4.94% |  | 5.33 | %
Annualized expected rate of return on plan assets |  | 8.00% |  | 7.00 | %
(1) Pension rates effective for January 1, 2023 through April 30, 2023 and May 1, 2023 through December 31, 2023, respectively.

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