The Virginia State Corporation Commission (SCC) has given final approval allowing Rappahannock and Shenandoah Valley Electric Cooperatives to acquire the Virginia distribution assets of Allegheny Energy.
Allegheny claims that customers in the existing territory of its Potomac Edison subsidiary can expect a smooth transition to service provided by the cooperatives. Closing of the sale is anticipated by June 1.
Last month, Potomac Edison joined Rappahannock and Shenandoah Valley Electric Cooperatives, the Virginia Office of the Attorney General (Division of Consumer Counsel) and the Frederick County Board of Supervisors in filing a settlement agreement with the commission.
Myron Rummel, president and CEO of Shenandoah Valley Electric Cooperative, said: “Both cooperatives are looking forward to providing electric service to our respective new members currently being served by Potomac Edison.
“Former Potomac Edison customers can be assured that they will receive the same safe, reliable and affordable power that current members of both cooperatives have enjoyed for generations.”