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Cleveland Electric Company history
Cleveland Electric Company company history timeline
In 1928 the company sold most of its natural gas operations to Columbia Gas System, Inc.
In 1950 Toledo Edison's parent company, Cities Service Company, was forced to divest itself of Toledo Edison to comply with the Public Utility Holding Company Act.
In 1955 the Bay Shore facility came into service, expanding greatly over the years.
The monumental 1958 move included some 800 dolly-loads of office equipment and an additional 500 desks.
In 1967 Cleveland Electric Illuminating Company, Duquesne Light Company, Ohio Edison Company, Pennsylvania Power Company, and Toledo Edison organized into the Central Area Power Coordination (CAPCO) group.
The Davis-Besse nuclear plant, begun in 1970 and completed seven years later, was co-owned by Toledo Edison and Cleveland Electric; the project proved the two companies could work well together.
In order to stay afloat, C.E.I. merged with Toledo Edison in 1986 to form Centerior Energy.
In September 1987, the company transacted a $1.7 billion sale and leaseback deal that allowed Centerior to retire $860 million in high-cost debt and preferred stock.
In 1988, after finding it impossible to have its costs covered by current and future rate increases, Centerior wrote off $349 million of its investment in its nuclear construction program.
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Cleveland Electric Company competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| TDIndustries | 1946 | $583.0M | 1,600 | 4 |
| Guy Evans, Inc. | 1978 | $6.0M | 30 | - |
| Wayne J. Griffin Electric | 1978 | $470.0M | 3,000 | 2 |
| Electrical Services Co | - | $1.2M | 50 | 27 |
| Encore Electric | 2002 | $79.0M | 300 | 163 |
| Walker Engineering | 1981 | $221.6M | 1,300 | 2 |
| Gaylor Electric | 1984 | $490.0M | 3,000 | 194 |
| Inglett & Stubbs | 1954 | $190.0M | 750 | - |
| Preferred Electric Co. | 1984 | $39.9M | 100 | 3 |
| Vos Electric | - | $1.2M | 50 | - |
Cleveland Electric Company history FAQs
Zippia gives an in-depth look into the details of Cleveland Electric Company, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Cleveland Electric Company. The employee data is based on information from people who have self-reported their past or current employments at Cleveland Electric Company. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Cleveland Electric Company. The data presented on this page does not represent the view of Cleveland Electric Company and its employees or that of Zippia.
Cleveland Electric Company may also be known as or be related to Cleveland Electric, Cleveland Electric Co, Cleveland Electric Co., Cleveland Electric Company and Cleveland Electric Inc.