Light on savings
Article Abstract:
The new electric choice program in Pennsylvania failed to serve its original purpose of generating savings for customers. The new choice program was supposed to drive down electric rates because of increased competition among suppliers. However, due to a number of factors, including the heat wave in June 1998 that caused temporary shortage in electricity, the choice program failed to provide lower electric rates. According to a Post-Gazette residential price comparison survey, only Allegheny Energy provides consumers with potential savings, while all other utilities will cause customers to lose money.
Comment:
PA: New electric choice program in state fails to serve its original purpose of generating savings for customers
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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DQE loses its passion for union
Article Abstract:
DQE Inc. is expected to terminate the proposed merger between its unit Duquesne Light Inc. and Allegheny Energy Inc. due to financial concerns between the two entities. A possible liquadation of the deal is eventual following the Pennsylvania Public Utility Commission's decision to grant the state's power companies with subsidy for their outstanding stranded costs as part of the state's move toward electric competition. The PUC granted $1.6 billion of the $1.9 billion in subsidy requested by Duquesne Light, while only $524 million was granted by the PUC for Allegheny Energy's $1.6 billion request.
Comment:
Proposed merger with Duquesne Light is expected to be terminated by Duquesne's parent DQE due to financial concerns
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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Allegheny, DQE face off over breakup
Article Abstract:
Allegheny Energy Inc. is seeking court intervention over its terminated takeover deal with DQE Inc., parent of Duquesne Light Co. Although DQE is offering to pay off Allegheny for cancelling their $4.3 billion stock and assumed debt deal, Allegheny is not interested in the money and wants DQE to stick to the deal. The first full-blown battle between the two companies have already started. The dispute was centered on the issue of whether DQE should give Allegheny Energy 10 business days notice before making any business moves.
Comment:
Wants DQE to stick to its proposed $4.3 billion takeover of the company
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
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