Allegheny Energy completes sale to electric coops
- June 1, 2010
Allegheny Energy Inc. announced Tuesday that it completed the sale of its electric distribution operators to Rappahannock Electric and Shenandoah Valley Electric Cooperatives.
Under the sale, 102,000 customers from The Potomac Edison Co. will transfer to the cooperatives.
The Shenandoah Valley Electric Cooperative will grow from 39,000 members to about 90,000 members. The SVEC, which already serves parts of Augusta, Rockingham, and Shenandoah counties in Virginia, will add Allegheny’s customers in the northern Shenandoah Valley.
The Rappahannock Electric Cooperative will now provide service to about 150,000 customers in parts of 21 counties in an area from the Blue Ridge Mountains to the Rappahannock River.
The cooperative are member-owned, nonprofit utilities that are governed by a board of directors.