Companies back out of power plant deal

Photo courtesy: MGN

(WDTV) -- Mon Power and Potomac Energy have announced they will not buy the Pleasants Power Plant.

The Public Service Commission was made aware this week they were backing out of the deal. The plant is currently owned by Allegheny Energy Supply; all three involved are First Energy companies, but AES is based in Ohio.

The announcement comes after the Federal Energy Regulatory Commission rejected the sale in January; however, weeks later, the state Public Service Commission approved it, with conditions that ratepayers would be protected from risks associated with the deal.

At this time, there's no word on what will happen with the plant.