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wheatlandpressrelease.htm
PRESS RELEASE
NEWS RELEASE
800 Cabin Hill Drive, Greensburg, PA 15601-1689
Media contact:
Investor contact:
Fred Solomon
Max Kuniansky
Manager, Corporate Communications
Executive Director, Investor Relations
Phone: (724) 838-6650
and Corporate Communications
Media Hotline: (888) 233-3583
Phone: (724) 838-6895
E-Mail: fsolomo@alleghenyenergy.com
E-Mail: mkunian@alleghenyenergy.com
FOR IMMEDIATE RELEASE
Allegheny Energy Completes Wheatland Generating Facility Sale
GREENSBURG, Pa., August 12, 2005 -
Allegheny Energy, Inc. (
NYSE: AYE
) today announced that its subsidiary, Allegheny Energy Supply Company, LLC, has completed the sale of its Wheatland generating facility to Cinergy Corporation affiliate PSI Energy, Inc., for approximately $100 million.
"This sale represents another in a series of strategic divestitures that have helped us reduce our debt and refocus on our core business", said Paul J. Evanson, Chairman, President and Chief Executive Officer of Allegheny Energy.
Wheatland is a 512-megawatt, gas-fired peaking facility located in Knox County, Indiana. The transaction completes the sale agreement announced by Allegheny on May 10. Banc of America Securities Inc. advised Allegheny on the transaction.
Allegheny Energy
Headquartered in Greensburg, Pa., Allegheny Energy is an investor-owned utility consisting of two major businesses. Allegheny Energy Supply owns and operates electric generating facilities, and Allegheny Power delivers low-cost, reliable electric service to customers in Pennsylvania, West Virginia, Maryland, Virginia and Ohio. For more information, visit our Web site at www.alleghenyenergy.com.
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EX - 99 2 wheatlandpressrelease . htm PRESS RELEASE NEWS RELEASE 800 Cabin Hill Drive , Greensburg , PA 15601 - 1689 Media contact : Investor contact : Fred Solomon Max Kuniansky Manager , Corporate Communications Executive Director , Investor Relations Phone : ( 724 ) 838 - 6650 and Corporate Communications Media Hotline : ( 888 ) 233 - 3583 Phone : ( 724 ) 838 - 6895 E - Mail : fsolomo@alleghenyenergy.com E - Mail : mkunian@alleghenyenergy.com FOR IMMEDIATE RELEASE Allegheny Energy Completes Wheatland Generating Facility Sale GREENSBURG , Pa . , August 12 , 2005 - Allegheny Energy , Inc . ( NYSE : AYE ) today announced that its subsidiary , Allegheny Energy Supply Company , LLC , has completed the sale of its Wheatland generating facility to Cinergy Corporation affiliate PSI Energy , Inc . , for approximately $ 100 million . " This sale represents another in a series of strategic divestitures that have helped us reduce our debt and refocus on our core business " , said Paul J . Evanson , Chairman , President and Chief Executive Officer of Allegheny Energy . Wheatland is a 512 - megawatt , gas - fired peaking facility located in Knox County , Indiana . The transaction completes the sale agreement announced by Allegheny on May 10 . Banc of America Securities Inc . advised Allegheny on the transaction . Allegheny Energy Headquartered in Greensburg , Pa . , Allegheny Energy is an investor - owned utility consisting of two major businesses . Allegheny Energy Supply owns and operates electric generating facilities , and Allegheny Power delivers low - cost , reliable electric service to customers in Pennsylvania , West Virginia , Maryland , Virginia and Ohio . For more information , visit our Web site at www.alleghenyenergy.com . - # # # -