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Tuesday, October 12, 2010

Rendell opposes Allegheny Energy merger

Rendell opposes Allegheny Energy merger with Ohio utility

Gov. Ed Rendell has stepped in to block the merger of Greensburg electric utility Allegheny Energy with Akron-based FirstEnergy by directing the Department of Environmental Protection to file a brief with the Public Utility Commission opposing the deal.

In a statement released this morning, Mr. Rendell said, "This merger would be a great deal for Wall Street and Ohio, but terrible for Pennsylvania's workers and consumers."

Mr. Rendell said the merger would reduce electricity competition and increase electric rates, and that it could cost the state nearly 1,000 jobs. More...




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