ALLEGHENY ENERGY SALE IS STUCK

(05/05/2005)

A plan by Allegheny Energy subsidiary Monongahela Power to sell its natural gas operations in West Virginia has been slowed down. Oklahoma-based IGS Utilities and affiliates of ArcLight Capital Partners of Boston proposed to pay $228 million dollars for Mountaineer Gas and West Virginia Power Gas Services. Currently, the company has 228,000 natural gas customers. The company has balked at conditions imposed by WV state regulators, related to determining their sale of natural gas to customers in years to come. IGS called off public hearings planned for last week because it could not meet the conditions. A final decision on the sale and a companion case involving Mountaineer's base rates have now been pushed back from September Eighth to October 31st.

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