Monongahela Power Co. is now the sole owner of Allegheny Generating Co. after completing an internal reorganization.
Allegheny Generating reacquired 59.38% of the outstanding capital stock held by Allegheny Energy Supply Co. Completing that deal gave Mon Power all outstanding and issued capital stock of Allegheny Generating. The Federal Energy Regulatory Commission approved the internal reorganization of the FirstEnergy Corp. subsidiaries Feb. 20. (FERC docket EC18-27)
The closing of the transaction comes after Allegheny Generating completed the sale of its 59% stake in the Bath County hydroelectric plant in Virginia to LS Power Group affiliate Aspen Generating LLC for net proceeds of $355 million. Mon Power still has a 6.6% interest in the Bath County facility, according to S&P Global Market Intelligence data. (FERC docket EC17-83)