Allegheny Energy Supply Closes Sale of Retail Customer Accounts in Pennsylvania, Ohio Deregulated Markets to Dominion Retail.Business Editors/Energy Writers HAGERSTOWN, Md. & RICHMOND, Va.--(BUSINESS WIRE)--June 4, 2002 Dominion dominion, power to rule, or that which is subject to rule. Before 1949 the term was used officially to describe the self-governing countries of the Commonwealth of Nations—e.g., Canada, Australia, or India. adds 150,000 electricity customers in choice programs 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 its subsidiary, Allegheny Energy Supply, has completed the sale of approximately 150,000 Pennsylvania and Ohio retail customer accounts in deregulated markets to Dominion Retail, Inc., a subsidiary of Dominion (NYSE: D). "Allegheny Energy Supply continually con·tin·u·al adj. 1. Recurring regularly or frequently: the continual need to pay the mortgage. 2. evaluates business opportunities in the retail marketplace," said Michael P. Morrell, President, Allegheny Energy Supply. "At this point in time, we have made the business decision to accept Dominion Retail's offer to purchase the noted retail customer accounts. However, we will continue to evaluate future opportunities in the retail marketplace and remain committed to Customer Choice." Included in the sale are approximately 105,000 residential and commercial accounts in the Duquesne Light service territory in southwestern Pennsylvania and approximately 45,000 residential and commercial accounts in First Energy's northern Ohio service territory. Prices and other terms will not change for the customers, who will continue to receive one bill from their local utility. Dominion Retail will replace Allegheny Energy as electricity supplier, but consumers' local utility companies will continue to deliver the electricity, read meters, send bills, collect payments, provide service and respond to emergencies. "Our total residential and commercial customer base will grow to nearly 1 million customer accounts in eight states in the Northeast and Midwest with this purchase," said Paul D. Koonce, Senior Vice President, Portfolio Management of Dominion. "That includes more than 600,000 customers purchasing natural gas or electricity through Customer Choice programs, and 375,000 accounts for energy-related products and services. We look forward to providing more customers with low, stable energy prices as Customer Choice programs become more popular throughout the Midwest, Mid-Atlantic, and Northeast." Allegheny Energy Supply will communicate details of the transition to all affected customers in the near future. If customers have questions in the interim, they should call 1-888-232-4642, Monday through Friday from 8 a.m. to 4:30 p.m. and Saturday from 10 a.m. to 2 p.m. Allegheny Energy is an integrated Fortune 500 energy company with a balanced portfolio of businesses, including Allegheny Energy Supply, a national energy merchant 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 segment offering fiber-optic and data services, energy procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and management, and energy services. With headquarters in Hagerstown, Md., Allegheny Energy is included on the Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index 500 index, the Barron's 500 list, and the Forbes "Platinum 400" list of America's best big companies. Information is available at www.alleghenyenergy.com. Dominion is one of the nation's largest producers of energy, with a production capability of more than 3 trillion One thousand times one billion, which is 1, followed by 12 zeros, or 10 to the 12th power. See space/time. (mathematics) trillion - In Britain, France, and Germany, 10^18 or a million cubed. In the USA and Canada, 10^12. British thermal unit British thermal unit, abbr. Btu, unit for measuring heat quantity in the customary system of English units of measurement, equal to the amount of heat required to raise the temperature of one pound of water at its maximum density [which occurs at a temperature of 39. of energy per day. Dominion has a diversified diversified (di·verˑ·s and integrated energy portfolio consisting of nearly 24,000 megawatts of generation, 5.1 trillion cubic feet equivalent of proved natural gas reserves, 7,600 miles of natural gas transmission pipeline and the nation's largest underground natural gas storage system with more than 950 billion cubic feet of storage capacity. Dominion also serves 3.9 million franchise natural gas and electric customers in five states. In addition, Dominion owns a managing equity interest in Dominion Fiber Ventures LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , owner of Dominion Telecom. For more information about Dominion, visit the company's web site at www.dom.com. |
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