FAIRMONT, W.Va. (AP) — Mon Power and Potomac Edison have agreed to conditions imposed by West Virginia regulators for their $1.1 billion purchase of the Harrison Power Station.
FirstEnergy Corp. announced its subsidiaries agreed to the Public Service Commission conditions Wednesday.
Mon Power is buying the 80 percent of the 1,984-megawatt plant that it doesn't currently own from affiliate Allegheny Energy Supply. In exchange, Mon Power will sell 8 percent of its interest in the Pleasants Power Station to Allegheny Energy Supply.
Mon Power says the deal will reduce an average residential customer's bill by about $1.50 a month.
Opponents say the transaction is inflated by $257 million and is bad for consumers. West Virginia Citizen Action Group says it will appeal the PSC's approval of the deal.