Allegheny Energy proposes offering of unregulated unit

HOUSTON, TexasJuly 23, 2001 – Allegheny Energy Inc., Hagerstown, Md., Monday said it plans an initial public offering of up to 18% of its unregulated generating subsidiary, an action that will separate the company’s deregulated and regulated businesses.

Sacramento, Calif., July 22, 2001 – No new rate increases are needed to cover the California’s purchases of power, state officials said in a conference call today.

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