Mon Power, Potomac Edison Files Harrison Power Station Agreement - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

Mon Power, Potomac Edison Files Harrison Power Station Agreement

Posted: Updated:
  • Local NewsMore>>

  • Local Car Dealership Discusses the Benefit of Recalls

    Local Car Dealership Discusses the Benefit of Recalls

    Friday, August 1 2014 6:37 PM EDT2014-08-01 22:37:11 GMT
    There have been many automotive recalls in recent months, but there is good news: July car sales reached an eight-year high.
    There have been many automotive recalls in recent months, but there is good news: July car sales reached an eight-year high.
  • Mountaineer Mall Area Robotics Hosts First FRC Competition in West Virginia

    Mountaineer Mall Area Robotics Hosts First FRC Competition in West Virginia

    Friday, August 1 2014 6:27 PM EDT2014-08-01 22:27:41 GMT
    It was the first of it's kind. The state of West Virginia has never hosted a First Robotics Competition until now. Twenty four teams, from 13 states and 2 countries, competed for the top spot at the WVU Recreation Center."The practice matches we did were the first FRC matches ever done in West Virginia," said Autumn Baker, a Mountaineer Area RoboticS team member. "That feels really good that we can sort of pioneer this type of event."Mountaineer Area Robotics (MARS) put together the event tha...
    It was the first of it's kind. The state of West Virginia has never hosted a First Robotics Competition until now. Twenty four teams, from 13 states and 2 countries, competed for the top spot at the WVU Recreation Center."The practice matches we did were the first FRC matches ever done in West Virginia," said Autumn Baker, a Mountaineer Area RoboticS team member. "That feels really good that we can sort of pioneer this type of event."Mountaineer Area Robotics (MARS) put together the event tha...
  • OMEGA, Make-A-Wish Launch Statewide Campaign

    OMEGA, Make-A-Wish Launch Statewide Campaign

    Friday, August 1 2014 6:24 PM EDT2014-08-01 22:24:49 GMT
    The West Virginia Oil Marketers & Grocers Association, also known as OMEGA, has launched a statewide campaign to raise funds for the Make-A-Wish foundation, and it's making dreams come true $1 at a time.
    The West Virginia Oil Marketers & Grocers Association, also known as OMEGA, has launched a statewide campaign to raise funds for the Make-A-Wish foundation, and it's making dreams come true $1 at a time.

FirstEnergy Corporation subsidiaries Mon Power and Potomac Edison, as well as the majority of the parties to the companies' generation transaction proceedings involving the Harrison Power Station, filed a comprehensive settlement agreement Wednesday with the Public Service Commission (PSC) of West Virginia.

If approved, the settlement would be expected to reduce an average residential customer's electric bill by approximately $1.50 a month, according to a news release from FirstEnergy.

Those parties signing the settlement agreement include the PSC staff; the W.Va. Energy Users Group; the Consumer Advocate Division; the W.Va. state Building Construction Trades Council, AFL-CIO; the Utilities Workers Union of America, AFL_CIO and its Local 304; Local Union 2357 of the International Brotherhood of Electrical Workers, AFL-CIO; and the W.Va. Coal Association, officials said.

A typical Mon Power and Potomac Edison residential customer using 1,000 kilowatt-hours of electricity per month would be expected to see their current $95.13 monthly bill drop to approximately $93.71 if the agreement is approved by the PSC, according to the news release.

Mon Power and Potomac Edison commitments in the settlement include increasing employment levels in the state by an additional 50 employees either employed by Mon Power, Potomac Edison or by an affiliate of the companies; Economic Stability Credits of approximately $2.3 million over a two-year period for large commercial and industrial customers to benefit the regional economy; three separate $500,000 contributions over five years to the Dollar Energy Fund, the W.Va. Office of Economic Opportunity's weatherization program, and the Governor's W.Va. Kids First Initiative; and development of Phase II Energy Efficiency Plan to achieve 0.5 percent reductions of 2013 distribution sales in the delivery year ending May 21, 2018, according to the news release.

The parties have requested that the PSC issue a final order approving the settlement agreement and the transaction by August 30, 2013. Officials said that if the settlement is approved, the transaction would likely close either in the third quarter or early in the fourth quarter.

The proposed transaction, which represents a 1.1 billion investment by Mon Power, has already been reviewed and approved by the Federal Energy Regulatory Commission. According to the news release, Mon Power will purchase about 80 percent of the Harrison Power Station from FirstEnergy subsidiary Allegheny Energy Supply under the proposed plan, "adding to its approximate 20 percent share and giving it sole ownership of the 1,984-megawatt (MW) supercritical coal plant in Haywood." Mon Power will also transfer its approximate eight percent interest in the Pleasants Power Station to Allegheny Energy Supply as part of the transaction.

Mon Power provides service to its 385,500 customers as well as 132,000 Potomac Edison customers in the state's Eastern Panhandle, according to the news release.