Associated Press Published

Group appeals PSC order approving billion-dollar power plant deal

West Virginia Citizen Action Group says it will appeal the approval of a $1.1 billion deal for the sale of the Harrison Power Station.

The Public Service Commission approved the transaction late Monday, saying it would reduce Mon Power rates by $16 million a year.
     The deal involves Ohio-based FirstEnergy subsidiaries Mon Power and Potomac Edison, and affiliate Allegheny Energy Supply.
     Mon Power is buying the 80 percent of the 1,984-megawatt plant that it doesn’t currently own. In exchange, Mon Power will sell 8 percent of its interest in the Pleasants Power Station to Allegheny Energy Supply.
     Opponents say the transaction is inflated by $257 million and is bad for consumers.
     West Virginia Citizen Action says that price markup ruling violates stipulations of the merger agreement and contradicts commission policy.