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West Virginia Commission Issues Order Approving Sale of Mountaineer Gas.

Publication: Business Wire
Publication Date: 25-AUG-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
GREENSBURG, Pa. -- Allegheny Energy, Inc. (NYSE:AYE) announced today that the Public Service Commission of West Virginia has issued a final order approving the sale of Mountaineer Gas and an increase in Mountaineer's base rates.

Last year, Allegheny agreed to sell Mountaineer Gas and its other natural gas operations in West Virginia to a partnership composed of IGS Utilities and affiliates of ArcLight Capital Partners. One of the conditions of the sale was a base rate increase for Mountaineer Gas. In today's order, the commission approved a base rate increase of $15.3 million, effective November 1, 2005, and an additional increase of $2 million on November 1, 2006.

Under...

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