Beaver wants say in power plant swap
Article Abstract:
Pennsylvania lawmakers and Beaver County, PA, officials are asking to have an official say in Duquesne Light Co.'s plans to swap and sell its power plants to Ohio-based FirstEnergy. The officials have appealed to the state Public Utility Commission to grant them an official voice in the proposal because they fear that the region may lose hundreds of jobs when Duquesne is granted permission to sell and swap its power facilities. James E. Cross, head of Duquesne Light's generation group, said that up to 400 of the roughly 1,200 employees at the nuclear plant in Beaver Valley, PA, could be eliminated when a new firm assumes ownership of the plant.
Comment:
PA lawmakers & Beaver County, PA, officials ask to have a say in Duquesne Light's plan to swap & sell its power plants to the co
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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PUC will reconsider power deal
Article Abstract:
Duquesne Light's planned consolidation with Allegheny Power has been granted reconsideration by the Public Utility Commission (PUC). The PUC approved the proposed merger in April 1998, but with conditions that required both utilities to take specific steps to guarantee that other power firms would be able to transport electricity to Western Pennsylvania to vie for customers. PUC decided to reconsider its original ruling after both electric utilities suggested alternative steps, including handing competitors temporary control of Duquesne Light's power plant in Cheswick, PA.
Comment:
Its planned consolidation with Duquesne Light is granted reconsideration by the Public Utility Commission
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Merger decision due
Article Abstract:
DQE Inc.'s board of directors may decide on Jul. 28, 1998, whether to discontinue its merger with Hagerstown, MD-based Allegheny Energy Inc. Duquesne Light Co.'s parent firm said that it is seriously concerned about regulatory restrictions on the proposed merger and plans to issue a more definitive statement on the merger after the scheduled board meeting. Allegheny will receive one DQE share for 1.12 shares of its own under the terms of the agreement. The stock price of DQE closed at $35.44 on Jul. 27, 1998.
Comment:
Proposed merger with DQE Inc may be discontinued pending a decision on 7/28/98
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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