HAGERSTOWN, Md. & RICHMOND, Va., June 12, 2002 — Allegheny Energy, Inc. announced recently that its subsidiary, Allegheny Energy Supply, has completed the sale of approximately 150,000 Pennsylvania and Ohio retail customer accounts in deregulated markets to Dominion Retail, Inc., a subsidiary of Dominion.
“Allegheny Energy Supply continually evaluates business opportunities in the retail marketplace,” said Michael P. Morrell, President, Allegheny Energy Supply. “At this point in time, we have made the business decision to accept Dominion Retail’s offer to purchase the noted retail customer accounts. However, we will continue to evaluate future opportunities in the retail marketplace and remain committed to Customer Choice.”
Included in the sale are approximately 105,000 residential and commercial accounts in the Duquesne Light service territory in southwestern Pennsylvania and approximately 45,000 residential and commercial accounts in First Energy’s northern Ohio service territory.
Prices and other terms will not change for the customers, who will continue to receive one bill from their local utility. Dominion Retail will replace Allegheny Energy as electricity supplier, but consumers’ local utility companies will continue to deliver the electricity, read meters, send bills, collect payments, provide service and respond to emergencies.
“Our total residential and commercial customer base will grow to nearly 1 million customer accounts in eight states in the Northeast and Midwest with this purchase,” said Paul D. Koonce, Senior Vice President, Portfolio Management of Dominion. “That includes more than 600,000 customers purchasing natural gas or electricity through Customer Choice programs, and 375,000 accounts for energy-related products and services. We look forward to providing more customers with low, stable energy prices as Customer Choice programs become more popular throughout the Midwest, Mid-Atlantic, and Northeast.”
Allegheny Energy is an integrated Fortune 500 energy company with a balanced portfolio of businesses, including Allegheny Energy Supply, a national energy merchant which owns and operates electric generating facilities and supplies energy and energy-related commodities in selected domestic retail and wholesale markets; Allegheny Power, which delivers low-cost, reliable electric and natural gas service to about three million people in Maryland, Ohio, Pennsylvania, Virginia, and West Virginia; and a business segment offering fiber-optic and data services, energy procurement and management, and energy services.
With headquarters in Hagerstown, Md., Allegheny Energy information is available at www.alleghenyenergy.com.
Dominion is one of the nation’s largest producers of energy, with a production capability of more than 3 trillion British thermal unit of energy per day. Dominion has a diversified and integrated energy portfolio consisting of nearly 24,000 megawatts of generation, 5.1 trillion cubic feet equivalent of proved natural gas reserves, 7,600 miles of natural gas transmission pipeline and the nation’s largest underground natural gas storage system with more than 950 billion cubic feet of storage capacity.
Dominion also serves 3.9 million franchise natural gas and electric customers in five states. In addition, Dominion owns a managing equity interest in Dominion Fiber Ventures LLC, owner of Dominion Telecom. For more information about Dominion, visit the company’s web site at www.dom.com.