Allegheny Energy Announces Fuel, Purchased Power Cost Decision

Greensburg, Pa., December 30, 2009–Allegheny Energy, Inc. (NYSE: AYE) announced that the Public Service Commission of West Virginia issued an order on December 29 regarding the company’s recovery of fuel and purchased power costs. The Commission’s order approved a settlement agreement between Allegheny, the Consumer Advocate Division, Staff of the Public Service Commission and the West Virginia Energy Users Group. (For more generation news, click here.)

Under a cost recovery clause re-established by the Commission in 2007, rates are adjusted annually to reflect upward and downward changes in the cost of fuel and purchased power. Allegheny’s unrecovered costs have grown steadily in the past year, as actual expenses exceeded the amount reflected in customer rates.

As described in the company’s news release dated December 3, 2009, the agreement calls for Allegheny’s West Virginia rates to be increased by $118 million (annualized) on January 1, 2010, to recover increased costs of fuel and purchased power.

As a result of the order, the monthly bill for a residential customer using 1,000 kilowatt-hours will be about $91, an increase of $7.65 compared to current rates. Even with the increase, Allegheny’s rates in West Virginia will remain well below the national monthly average cost of nearly $117 for residential customers.

To help customers manage their bills, Allegheny offers a budget plan, special payment plans and access to energy assistance programs. Allegheny Power’s Watt Watchers programs also provide information and programs to help its customers manage their electricity bills and use energy more efficiently. For more information and tips on energy efficiency and conservation, visit the company’s Web site at www.alleghenypower.com and click on the Watt Watchers section, or call the company’s CustomerServiceCenter at 1-800-Allegheny (1-800-255-3443).

 

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