NEWS RELEASE
800 Cabin Hill Drive, Greensburg, PA 15601-1689
| Media contact: | Investor contact: |
| David Neurohr | Max Kuniansky |
| Director, External Communications | Executive Director, Investor Relations |
| Phone: (724) 838-6020 | and Corporate Communications |
| Media Hotline: (888) 233-3583 | Phone: (724) 838-6895 |
| E-mail: dneuroh@alleghenyenergy.com | E-mail: mkunian@alleghenyenergy.com |
FOR IMMEDIATE RELEASE
Allegheny Energy Names New Chief Operating Officer of Generation Business
GREENSBURG, Pa., February 25, 2008—Allegheny Energy, Inc. (NYSE: AYE) today announced that Curtis H. Davis would become Chief Operating Officer – Generation, effective March 1. Mr. Davis comes to Allegheny following a 33-year career at Duke Energy, where he held a number of senior operational positions, most recently serving as Senior Vice President of Duke’s unregulated generating fleet.
“With his extensive knowledge of the generation business, particularly in the areas of performance improvement, plant reliability, and cost control, Curtis will be a strong addition to our senior management team,” said Paul J. Evanson, Chairman, President and Chief Executive Officer.
Mr. Davis holds a bachelor’s degree in electrical engineering from North Carolina State University and is a registered professional engineer.
Allegheny Energy’s generation business owns or controls nearly 10,000 megawatts of generation, consisting of both regulated and unregulated power facilities.
Allegheny Energy
Headquartered in Greensburg, Pa., Allegheny Energy is an investor-owned electric utility with total annual revenues of over $3 billion and more than 4,000 employees. The company owns and operates generating facilities and delivers low-cost, reliable electric service to over 1.5 million customers in Pennsylvania, West Virginia, Maryland and Virginia. For more information, visit the company’s Web site at www.alleghenyenergy.com.
Forward-Looking Statements
In 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: 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; 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: 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 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.
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