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HARRISON POWER STATION
Utilities agree to PSC conditions on $1.1B Harrison Power Station deal
Reported by: Associated Press
Thursday, October 10, 2013 2:59 AM EDT
Mon Power and Potomac Edison have agreed to conditions imposed by West Virginia regulators for their $1.1 billion purchase of the Harrison Power Station.
Mon Power is buying the 80 percent of the 1,984-megawatt plant that it doesn't currently own from affiliate Allegheny Energy Supply. In exchange, Mon Power will sell 8 percent of its interest in the Pleasants Power Station to Allegheny Energy Supply.
Mon Power says the deal will reduce an average residential customer's bill by about $1.50 a month.
Opponents say the transaction is inflated by $257 million and is bad for consumers. West Virginia Citizen Action Group says it will appeal the PSC's approval of the deal.