FirstEnergy, Allegheny Energy Deal Approved in Virginia

September 10, 2010

Virginia regulators have approved FirstEnergy Corp.'s proposed acquisition of Allegheny Energy Inc.

The companies announced the deal's approval by the State Corporation Commission Friday.

Akron, Ohio-based FirstEnergy announced in February that it was buying Greensburg, Pennsylvania-based Allegheny Energy in a stock deal that would form one of the biggest power companies in the country, made up of ten utilities serving 6.1 million customers from Ohio to New Jersey.

The companies sought approval from Virginia regulators because Allegheny Energy owns transmission assets in Virginia through Potomac Edison and the Trans-Allegheny Interstate Line Company.

The deal is expected to close in the first half of next year, but requires approval from regulators and shareholders.

The comments sections of are designed for thoughtful, intelligent conversation and debate. We want to hear from our viewers, but we ask that you follow our rules for commenting. E-mail is required to comment on a story, but it will not be displayed with your comment. For complete rules, CLICK HERE. The Newsplex reserves the right to not post or to remove any comment.
powered by Disqus
The Charlottesville Newsplex 999 2nd Street S.E. Charlottesville, VA 22902 434.242.1919 – Main 434.220.7522 - Newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 102632604 -
Gray Television, Inc.