This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

W.Va. Groups Challenge Mon Power's Plant Purchase

"Most utilities in the region are shedding their exposure to increasingly expensive coal," he said, "not doubling down on it."

Rather than grow capacity, he said, utilities should focus on reducing demand â¿¿ as pending legislation in West Virginia would require.

The Energy Efficiency Resource Standard bill proposes that utilities reduce both electricity sales and demand by 15 percent by 2025.

Energy Efficient West Virginia, a coalition that includes the Ohio Valley group, says the bill also would require that utilities help customers save money by making their homes and businesses more efficient.

The bill could be administered either by the utilities themselves or a third-party agency. Advocates say the program has already been successful in neighboring Ohio and Pennsylvania, though both states are in the early stages of implementation.

Mon Power, however, says energy efficiency programs and reduced demand aren't practical solutions to the significant capacity shortfall it faces.

Buying the Harrison Power Station is much more cost-efficient than buying electricity on the spot market, Meyers said. And with consumer demand expected to grow 1.4 percent per year in West Virginia, that shortfall will only grow.

Relying on market sources also creates "significant risk" for Mon Power's 385,500 customers in the northern half of West Virginia and 132,000 Potomac Edison customers in the Eastern Panhandle, the utility says.

"Our proposed generation transaction ensures a continued supply of reliable, low-cost electricity for our West Virginia customers for years to come," Meyers said in an email. "This is an affordable plan designed to create greater rate stability for our customers."

The Harrison Power Station employs more than 200 workers and supports mining jobs.

Mon Power also calls it "one of the largest and cleanest coal-fired plants in the nation," with nearly $1 billion invested in scrubbers that now remove 98 percent of the sulfur dioxide emissions and other systems that remove at least 90 percent of nitrogen oxide from flue gases.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,090.28 +60.07 0.33%
S&P 500 2,092.47 +10.59 0.51%
NASDAQ 4,813.4540 +39.9820 0.84%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs