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News Breaks
September 4, 2013
15:24 EDTFEFirstEnergy asks for authorization to sell 11 hydroelectric power stations
FirstEnergy announced its subsidiaries have applied for authorization from the Federal Energy Regulatory Commission to sell 11 hydroelectric power stations in Pennsylvania, Virginia and West Virginia to Harbor Hydro Holdings, a subsidiary of LS Power Equity Partners II. A sales agreement was reached on August 23, and if approved, the proposed transaction is expected to close in the fourth quarter of 2013. The agreement is subject to customary and other closing conditions, including FERC, the Commonwealth of Virginia's State Corporation Commission and various other approvals and resolution of a potential competing license application and other claims related to the Seneca facility also is a condition to closing the proposed transaction. The hydroelectric power stations included in this proposed sale have a total capacity of 527 megawatts, which represents less than 3% of FirstEnergy's generation fleet output, the company said.
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February 2, 2016
08:33 EDTFECRA says auction process to be conducted for FirstEnergy Penn utilities
CRA International (CRAI) announced that an auction process will be conducted for FirstEnergy Corp.'s (FE) Pennsylvania utilities - Metropolitan Edison Company, Pennsylvania Electric Company, Pennsylvania Power Company and West Penn Power Company - to procure full requirements Default Supply generation service for their Default Service Customers. The auction process will lead up to the auction that is scheduled for April 11, 2016. The bidding process will use a descending-price clock auction format. The auction will be managed by Independent Evaluator and Auction Manager CRA International, Inc. The auction is being conducted pursuant to FirstEnergy's Pennsylvania Default Service Program as approved by the Pennsylvania Public Utility Commission. This is the seventh auction in the series of DSP-III auctions that began in October 2014.
08:32 EDTFEFirstEnergy produced over 88.9M MW hours of electricity
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