Allegheny Energy, CONSOL Energy to Construct Generating Facility in Virginia.Business Editors HAGERSTOWN, MD.--(BUSINESS WIRE)--June 7, 2001 Allegheny Energy Allegheny Energy (NYSE: AYE) is a traditional public utility based in the Pittsburgh suburb of Greensburg. It services communities in Western Pennsylvania, Western Maryland, Northern West Virginia, Northwest Virginia. , Inc. (NYSE NYSE See: New York Stock Exchange : AYE) announced today that it plans to enter into a joint venture with CONSOL Energy CONSOL Energy is a coal and mining company based suburban Pittsburgh, USA. The head office is located in the southern suburb of Upper St.Clair, Pennsylvania CONSOL Energy Inc. is the largest producer of high-Btu bituminous coal in the United States. , Inc. (NYSE: CNX CNX Canceled CNX Certified Network Expert CNX Chiang Mai, Thailand - International (Airport Code) CNX CRISIL NSE (National Stock Exchange) Indices (India stock exchange) ) to construct an 88-megawatt (MW) natural gas-fired generating facility in Buchanan County Buchanan County is the name of three counties in the United States of America:
The project adds to the more than 14,000 MW of generating capacity that the Company expects to own or control by 2005 and helps solidify its position as a national energy supplier. Under the terms of the joint venture, each company will own a 50-percent interest in two General Electric simple-cycle natural gas combustion turbines that will be fueled by coalbed methane produced by CONSOL Energy's CNX Gas Operations. Allegheny Energy Supply, the unregulated generating subsidiary of Allegheny Energy, will operate the facility in southwestern Virginia, and its output will be sold into the competitive marketplace. "Allegheny Energy is delighted to enter into this project with one of our long-time business partners," said Michael P. Morrell, President of Allegheny Energy Supply. "Not only does it further our growth strategy for our generating company, but it makes good use of a by-product by·prod·uct or by-prod·uct n. 1. Something produced in the making of something else. 2. A secondary result; a side effect. by-product Noun 1. of the coal industry. We are pleased to be a part of this innovative development project." Permitting for the proposed generating facility is under way. The facility is expected to be in operation by mid-2002. About Allegheny Energy Supply Allegheny Energy Supply operates and markets competitive retail and wholesale generation in markets throughout the United States and operates regulated generation for its affiliates. With its recently announced acquisitions and expansion plans, Allegheny Energy Supply will have ownership or control of generating capacity of more than 14,000 MW, with assets strategically located throughout the United States. About Allegheny Energy Allegheny Energy, Inc. is a diversified energy company headquartered in Hagerstown, Md. We have been named to the Fortune 500 list, the Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index 500 index, and the Forbes "Platinum 400" list. The Allegheny Energy family includes Allegheny Power, which delivers electric energy and natural gas to about three million people in parts of Maryland, Ohio, Pennsylvania, Virginia, and West Virginia; Allegheny Energy Supply Company, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , which operates and markets competitive retail and wholesale electric generation and operates regulated electric generation for its affiliates; and Allegheny Ventures, which actively invests in and develops telecommunications and energy-related projects. For more information, visit our web site at www.alleghenyenergy.com. |
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