Allegheny Energy Sells Fellon-McCord and Alliance Energy Services to Constellation Energy Group.Business Editors HAGERSTOWN, Md.--(BUSINESS WIRE)--Jan. 2, 2003 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) today announced that it has sold Fellon-McCord & Associates, Inc., its natural gas and electricity consulting and management services firm, and Alliance Energy Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (formerly Alliance Energy Services Partnership), a provider of natural gas supply and transportation services, to Constellation Energy Constellation Energy (NYSE: CEG), headquartered in Baltimore, Maryland, generates, trades, supplies, and distributes energy. The company operates over 35 power plants in 11 states (mainly Maryland, Pennsylvania, New York, West Virginia, and California) under its operating Group (NYSE: CEG (Continuous Edge Graphics) A VGA RAMDAC chip from Edsun Labs that adds anti-aliasing on the fly. It can also calculate intermediate shades, thus providing thousands of colors on an 8-bit board that normally generates only 256 colors. ). The sale of the two Louisville, Ky.,-based businesses is part of Allegheny Energy's ongoing efforts to increase financial flexibility and refocus its business on fundamental strengths and core assets. As a result of the transaction, Allegheny Energy's contingent obligations and working capital support have been reduced. The Allegheny Energy Board of Directors approved the transaction. With headquarters in Hagerstown, Md., Allegheny Energy is an integrated energy company with a balanced portfolio of businesses, including Allegheny Energy Supply, which owns and operates electric generating facilities and supplies energy and energy-related commodities in selected domestic retail and wholesale markets; Allegheny Power, which delivers low-cost, reliable electric and natural gas service to about three million people in Maryland, Ohio, Pennsylvania, 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. ; and a business offering fiber-optic and data services. More information about the Company is available at www.alleghenyenergy.com. Certain statements contained herein constitute forward-looking statements with respect to Allegheny Energy, Inc. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Allegheny Energy to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such factors may affect Allegheny Energy's operations, markets, products, services, prices, capital expenditures, development activities, and future plans. Such factors include, among others, the following: changes in general, economic, and business conditions; changes in the price of electricity and natural gas; changes in industry capacity; changes in technology; changes in financial and capital market conditions; changes in political and social conditions, deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. activities and the movement toward competition in the states served by our operations; the effect of regulatory and legislative decisions; regulatory approvals and conditions; the loss of any significant customers; litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; and changes in business strategy or business plans. |
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