Yesterday's Pittsburgh Post-Gazette had a great story on what some are calling the FE fiscal train wreck. To summarize, FE is foundering in deregulated states, and is counting on the TrAILCo transmission line and the Harrison transfer to bail out the company. How do we use this?"Since FirstEnergy Corp. announced its $4.7 billion acquisition of Greensburg-based Allegheny Energy Inc. in February 2010, the Akron, Ohio-based buyer has said it will close seven of the 10 coal-fired power plants that it picked up in the purchase.
FirstEnergy also is looking to sell two-thirds of its hydropower assets, much of which came from Allegheny Energy.
So what was the company thinking?"
Full story is at:JBK