Allegheny Energy Announces Maryland Restructuring Proceeding Suspended.HAGERSTOWN, Md.--(BUSINESS WIRE)--April 22, 1999-- 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 that the procedural schedule of its Maryland subsidiary's restructuring proceeding before the Maryland Public Service Commission (PSC (Public Service Commission) Same as PUC. ) has been suspended to allow the parties to finalize a settlement agreement. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the PSC's restructuring proceeding schedule for Allegheny Energy's subsidiary, The Potomac Edison Company, hearings were slated to begin the week of April 26, 1999. However, the Commission's Staff informed the PSC that a tentative agreement has been reached by a majority of the parties participating in the negotiations. The parties are currently in the process of finalizing the agreement for presentation to the PSC. A longtime proponent of customer choice, Allegheny Energy looks forward to continuing to work with parties in the proceeding to reach a resolution that will be beneficial to the Company's more than 204,000 Maryland customers and its shareholders. In addition to its Maryland customers, Potomac Edison serves retail electric consumers in Virginia and West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. . Headquartered near Hagerstown, Md., Allegheny Energy, Inc., with public utility operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. doing business as Allegheny Power, provides low-cost electric service to approximately 3 million people in parts of Maryland, Ohio, Pennsylvania, Virginia, and West Virginia. For more information about Allegheny Energy, check out our web site at www.alleghenypower.com. |
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