netrashetty
Netra Shetty
Allegheny Energy is an electric utility headquartered in Greensburg, Pennsylvania. It owns and operates electric generation facilities and delivers electric services to customers in Pennsylvania, West Virginia, Maryland and Virginia. Allegheny Energy was incorporated in Maryland in 1925.[3] However, some of its predecessor companies have been serving their communities for over a century.
The company has three primary businesses:
merchant generation, which operates power plants primarily in Pennsylvania and West Virginia;
transmission expansion; and
utility operations, consisting of transmission and distribution operations serving 1.6 million customers, primarily in small towns and rural areas. Southwestern Pennsylvania, excluding the city of Pittsburgh, provides about half of regulated utility revenues.[4]
Allegheny Energy, Inc. (NYSE: AYE) today announced that it has agreed to extend Paul J. Evanson’s employment as Chairman, President and Chief Executive Officer to June 15, 2011.
“We have a talented leadership team and a dedicated workforce focused on high performance, customer satisfaction and shareholder value. I’m delighted to have the opportunity to work with them.”
“The board is very pleased with Paul’s many accomplishments since joining Allegheny in 2003,” said Steven H. Rice, Presiding Director of Allegheny’s board. “Retaining his leadership during these challenging economic times positions the company favorably for the future. We look forward to continued success under Paul’s guidance.”
“I appreciate the board’s confidence in me,” said Mr. Evanson. “We have a talented leadership team and a dedicated workforce focused on high performance, customer satisfaction and shareholder value. I’m delighted to have the opportunity to work with them.”
n addition to historical information, this release contains a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Words such as anticipate, expect, project, intend, plan, believe, and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These include statements with respect to: rate regulation and the status of retail generation service supply competition in states served by Allegheny Energy's distribution business, Allegheny Power; financing plans; demand for energy and the cost and availability of raw materials, including coal; provider-of-last-resort and power supply contracts; results of litigation; results of operations; internal controls and procedures; capital expenditures; status and condition of plants and equipment; capacity purchase commitments; regulatory matters; and accounting issues. Forward-looking statements involve estimates, expectations and projections and, as a result, are subject to risks and uncertainties. There can be no assurance that actual results will not materially differ from expectations. Actual results have varied materially and unpredictably from past expectations. Factors that could cause actual results to differ materially include, among others, the following: plant performance and unplanned outages; changes in the price of power and fuel for electric generation; general economic and business conditions; changes in access to capital markets; complications or other factors that render it difficult or impossible to obtain necessary lender consents or regulatory authorizations on a timely basis; environmental regulations; the results of regulatory proceedings, including proceedings related to rates; changes in industry capacity, development and other activities by Allegheny Energy's competitors; changes in the weather and other natural phenomena; changes in customer switching behavior and their resulting effects on existing and future load requirements; changes in the underlying inputs and assumptions, including market conditions used to estimate the fair values of commodity contracts; changes in laws and regulations applicable to Allegheny Energy, its markets or its activities; the loss of any significant customers or suppliers; dependence on other electric transmission and gas transportation systems and their constraints or availability; changes in PJM, including changes to participant rules and tariffs; the effect of accounting policies issued periodically by accounting standard-setting bodies; and the continuing effects of global instability, terrorism and war. Additional risks and uncertainties are identified and discussed in Allegheny Energy's reports filed with the Securities and Exchange Commission.
The company has three primary businesses:
merchant generation, which operates power plants primarily in Pennsylvania and West Virginia;
transmission expansion; and
utility operations, consisting of transmission and distribution operations serving 1.6 million customers, primarily in small towns and rural areas. Southwestern Pennsylvania, excluding the city of Pittsburgh, provides about half of regulated utility revenues.[4]
Allegheny Energy, Inc. (NYSE: AYE) today announced that it has agreed to extend Paul J. Evanson’s employment as Chairman, President and Chief Executive Officer to June 15, 2011.
“We have a talented leadership team and a dedicated workforce focused on high performance, customer satisfaction and shareholder value. I’m delighted to have the opportunity to work with them.”
“The board is very pleased with Paul’s many accomplishments since joining Allegheny in 2003,” said Steven H. Rice, Presiding Director of Allegheny’s board. “Retaining his leadership during these challenging economic times positions the company favorably for the future. We look forward to continued success under Paul’s guidance.”
“I appreciate the board’s confidence in me,” said Mr. Evanson. “We have a talented leadership team and a dedicated workforce focused on high performance, customer satisfaction and shareholder value. I’m delighted to have the opportunity to work with them.”
n addition to historical information, this release contains a number of "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Words such as anticipate, expect, project, intend, plan, believe, and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These include statements with respect to: rate regulation and the status of retail generation service supply competition in states served by Allegheny Energy's distribution business, Allegheny Power; financing plans; demand for energy and the cost and availability of raw materials, including coal; provider-of-last-resort and power supply contracts; results of litigation; results of operations; internal controls and procedures; capital expenditures; status and condition of plants and equipment; capacity purchase commitments; regulatory matters; and accounting issues. Forward-looking statements involve estimates, expectations and projections and, as a result, are subject to risks and uncertainties. There can be no assurance that actual results will not materially differ from expectations. Actual results have varied materially and unpredictably from past expectations. Factors that could cause actual results to differ materially include, among others, the following: plant performance and unplanned outages; changes in the price of power and fuel for electric generation; general economic and business conditions; changes in access to capital markets; complications or other factors that render it difficult or impossible to obtain necessary lender consents or regulatory authorizations on a timely basis; environmental regulations; the results of regulatory proceedings, including proceedings related to rates; changes in industry capacity, development and other activities by Allegheny Energy's competitors; changes in the weather and other natural phenomena; changes in customer switching behavior and their resulting effects on existing and future load requirements; changes in the underlying inputs and assumptions, including market conditions used to estimate the fair values of commodity contracts; changes in laws and regulations applicable to Allegheny Energy, its markets or its activities; the loss of any significant customers or suppliers; dependence on other electric transmission and gas transportation systems and their constraints or availability; changes in PJM, including changes to participant rules and tariffs; the effect of accounting policies issued periodically by accounting standard-setting bodies; and the continuing effects of global instability, terrorism and war. Additional risks and uncertainties are identified and discussed in Allegheny Energy's reports filed with the Securities and Exchange Commission.