Challenge to Harrison Power Plant deal rejected
CHARLESTON, W.Va. – The state Supreme Court this week rejected a challenge to the Public Service Commission’s approval of a $1.1 billion deal for the sale of the Harrison Power Station.
The deal involves Ohio-based FirstEnergy subsidiaries Mon Power and Potomac Edison, and affiliate Allegheny Energy Supply. The PSC approved the transaction in October.
The West Virginia Citizen Action Group appealed, arguing the transaction was inflated by $257 million and was bad for consumers.
In a ruling released Wednesday, the justices sided with the commission’s findings.
Under the deal, Mon Power is buying the 80 percent of the 1,984-megawatt plant that it doesn’t currently own. In exchange, Mon Power will sell 8 percent of its interest in the Pleasants Power Station to Allegheny Energy Supply.