That panel IS, or was, a disaster about to happen.  Glad to hear that it has been changed out.  Here is a very good article on FPE Stablok panels that I give to all of my clients that have these type of panels.  This is a great read for home inspectors as well.  This helps explain WHY they should changed out and updated.  Good post.

This is a blog I started a while back about FPE's, aka Fire Producing Equipment!  And just so you Zinsco fans would not be left out I mention them as well!

FPE panels

Good links thank you guys!

When my client called the electrician to replace this panel they were so happy and amazed that they did not have to sell the client on the replacement.  The electricians actually carry a photo album of burned out panels that they have replaced over the years to show their clients the dangers.

Crazy thing to me is that it is not such a huge deal to have them replaced. Budget $1000-$1500 for a brand new panel that is perfect and labeled in my area.  Seems small change to me for safety.  Should increase the value of the home as well.

Also of note the client's insurance company (State Farm) would not insure the home with an FPE panel.  My client had to produce photos and documentation to the insurance company that the panel had been replaced.

This issue comes up a lot during inspections.   Dallas has a lot of these Federal Pacific boxes.  I even have one in my 40 year old home. 

Linda,

Please have it replaced!!!!!