CLARKSBURG, W.Va. — The state Public Service Commission has approved Mon Power’s proposal to fully acquire the Harrison Power Station in Harrison County with conditions and sell its ownership in the Pleasants Power Station.
When company officials proposed the purchase of the remaining almost 80 percent stake in the 1,984 megawatt coal fired power plant near Shinnston last year, they argued that the move would help provide their customers with more needed service capacity.
Approval from the PSC on the proposal came Monday.
The total transaction price will add up to more than $1 billion and lead to an estimated rate reduction, for Mon Power and Potomac Edison customers, of $16 million total.
The conditions from the PSC, included in the proposal, are designed to serve as protections for rate payers.
Mon Power reached a settlement agreement on the purchase with PSC staff members, the state Consumer Advocate, the West Virginia Energy Users Group, the West Virginia State Building and Construction Trades Council and several different organizations with the AFL-CIO prior to a September hearing in front of the PSC.
One commissioner did file a dissenting opinion with Monday’s order.
The PSC’s order and the dissenting opinion are available at www.psc.state.wv.us. For reference on the website, the case numbers are 12-1571-E-PC and 13-1272-E-PW.