Allegheny Energy to Provide Electricity to Town of Williamsport.HAGERSTOWN, Md.--(BUSINESS WIRE)--July 23, 1998--The Town of Williamsport, Md., has selected 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. (NYSE NYSE See: New York Stock Exchange : AYE), doing business as Allegheny Power, to provide approximately 20,000 megawatt-hours of electricity a year for the next five years. The agreement was finalized See finalization. July 22 when it was executed by Williamsport Mayor John Slayman. The contract calls for the Company to supply electricity to Williamsport at negotiated wholesale rates that are approximately 5 percent lower than the company's current agreement with the town. Williamsport will resell re·sell tr.v. re·sold , re·sell·ing, re·sells 1. To sell again. 2. To sell (a product or service) to the public or to an end user, especially as an authorized dealer. the power to residential and business customers 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 town's retail rate schedule. The new contract is effective July 25 and will expire on June 30, 2003. "This agreement is good for Williamsport, its retail customers, and for Allegheny Energy," said Jay Pifer, Senior Vice President. "The Town of Williamsport has been one of our valued customers, and we are pleased that we will be able to continue to supply electricity to them for another five years." Allegheny Energy's current contract with the town is due to expire on July 25. Last July, Williamsport announced that it would seek proposals from electricity suppliers that were interested in serving the town. Negotiations have been under way since that time. "We made a proposal, as did other companies, to serve the town's electricity demand," Pifer said. "After studying its options, based on price and reliability, the town decided that we made the best offer. We think this is evidence that in the competitive marketplace, Allegheny Energy's reliable service at low prices will continue to be attractive to electricity consumers." Allegheny Energy, with 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, is an investor-owned electric utility serving approximately 1.4 million customers in parts of Ohio, Maryland, 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. . CONTACT: Allegheny Energy, Hagerstown M. M. Teahan, 301/790-6190 |
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