The Times West Virginian

August 21, 2013

FirstEnergy says deal reached in power plant sale

Associated Press

FAIRMONT — FirstEnergy says it has reached a deal with several parties to transfer ownership of a Harrison County power plant in a proposed $1 billion deal.

The company announced Wednesday that subsidiaries Mon Power and Potomac Edison had filed the settlement agreement with the Public Service Commission, which must approve the deal.

The company says the transaction is expected to reduce average customers’ electric bills by about $1.50 per month.

The deal includes the companies’ promise to bring at least 50 more jobs to the state and provide $3.8 million in credit and contributions for economic development projects, low-income utility assistance and other programs.

The parties have requested that the PSC approve the settlement by Aug. 30.

The Federal Energy Regulatory Commission already has approved the transaction.