WASHINGTON, Pa. — Officials at Mon Power and Potomac Edison continue to evaluate a rejection by the Federal Energy Regulatory Commission for their bid to purchase the Pleasants Power Station in West Virginia.
“We are disappointed by FERC’s order and we also believe the decision did not recognize the benefits this vital transaction would bring to our West Virginia customers,” said Todd Meyers, spokesman for Mon Power.
FERC issued the rejection on Friday.
It’s been a long process for the company in an attempt to bring the power station into their generation system. Currently, Mon Power derives power from two of its own power stations, Fort Martin and Harrison in West Virginia. The company projected into the future there would be a growing need for additional capacity and according to Meyers the better solution was to own a third generating station.
“One option has always been whatever power we need above and beyond our generating capabilities would be to just buy it off the open market,” Meyers explained. “We just didn’t think that was the most prudent course of action because market priced power can be low, but it can also go very high.”
The unpredictable cost of the excess power leaves the company with some uncertainty about where the power will come from to fill future needs. The cost would also be a question mark into the future, but reliability will not be an issue according to Meyers.
“Let’s be clear on this, there won’t be any shortage of power,” he explained. “It’s complicated the way power markets work, but there’s always electricity generated by the plants we do own and any you need above and beyond that you can purchase out on the open market. Lights will continue to shine.”
It’s unclear for now now if the company will appeal the FERC ruling or what option they might take in the future. Meyers said they will decide that position in the coming weeks after thoroughly studying the details of Friday’s ruling.