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May 03, 2015 8:45 AM ET

Electric Utilities

Company Overview of Monongahela Power Company

Company Overview

Monongahela Power Company, together with its subsidiaries, is engaged in the generation, transmission, and distribution of electricity in West Virginia. The company offers its services to residential, commercial, and industrial customers. As of March 27, 2014, it served approximately 385,000 customers in 34 West Virginia counties. The company was founded in 1924 and is based in Fairmont, West Virginia. Monongahela Power Company is a subsidiary of FirstEnergy Corp.

1310 Fairmont Avenue

Fairmont, WV 26554

United States

Founded in 1924

Key Executives for Monongahela Power Company

Chairman and Chief Executive Officer
Age: 72
President and Director
Age: 50
Chief Financial Officer, Vice President, Director, Chief Financial Officer of Allegheny Energy Inc. and Senior Vice President of Allegheny Energy Inc
Age: 55
Principal Accounting Officer, Controller, Chief Accounting Officer of Allegheny Energy Inc., Chief Information Officer of Allegheny Energy Inc. , Vice President of Allegheny Energy Inc. and Controller of Allegheny Energy Inc
Age: 56
Vice President and Director
Age: 54
Compensation as of Fiscal Year 2014.

Monongahela Power Company Key Developments

Mon Power and Potomac Edison Announce Public Service Commission of West Virginia Approves Rate Case Settlement Agreement

FirstEnergy Corp. subsidiaries Mon Power and Potomac Edison announced that the Public Service Commission (PSC) of West Virginia has approved the companies' rate case settlement agreement, which will help ensure continued service reliability and customer service for electric customers in West Virginia. The rate case agreement includes the recovery of expenses associated with storm repairs from the 2012 Derecho and Hurricane Sandy, increased operating and environmental compliance investments at coal-fired power plants, and service reliability enhancements to the distribution system, including a more extensive tree-trimming program to help reduce the number and duration of power outages. The rate case settlement agreement results in the recovery of about $63 million in additional revenues. Under the terms of the approved settlement, the companies also will increase their shareholder contributions by $150,000 annually to the Dollar Energy Fund or a similar agency to assist low-income customers with paying their electric bills, raising the total contribution to the Dollar Energy Fund to $500,000 per year. The PSC also issued a separate order regarding an annual fuel rate adjustment settlement filed in December 2014. As a result, residential customers will see a 1% increase in their monthly bills to cover the cost of coal for power plants and purchased power. The utilities do not profit from fuel and purchased power costs, but just recover their actual costs. Incorporating both rate changes, typical Mon Power and Potomac Edison residential customers using 1,000 kilowatt hours per month can expect their bill to increase from $92.38 to $100.49. The new rates will take effect February 25, 2015. Even with this increase, rates for Mon Power and Potomac Edison residential customers will be nearly 20% below the national average.

Mon Power to Install New Conductors on Transmission Line Near Morgantown to Enhance Reliability

Mon Power announced that it is installing new conductors on a 138,000-volt transmission line near Morgantown to increase capacity, enhance service reliability to existing customers and handle future load growth in the Monongalia County area. The $5 million project includes three phases, with all the work occurring on existing right-of-way. The transmission line upgrade is expected to be completed before year's end. The next phase involves reconductoring about half a mile of transmission line and replacing six wooden structures between the substation located on Collins Ferry Road and another Morgantown substation on West Run Road. The work is scheduled to start in mid-April and be completed by early June. The final phase will be the installation of new conductor on six miles of existing transmission line between the substation on West Run Road and a substation adjacent to the Lake Lynn Power Station. Work is expected to start in July and be completed by the end of the year.

Mon Power Installs Laptop Computers in Service Vehicles to Streamline and Enhance Utility Work

Mon Power is installing laptop computers in more than 250 line trucks and other field vehicles to enhance service and better manage repair work and reliability upgrades more efficiently. The $2.3 million project is expected to be completed by the summer. Using the new laptops will help crews save time by viewing the work orders electronically rather than having to write down the information being phoned or radioed in from the company's dispatching office. The advanced technology displays detailed maps of Mon Power's distribution and transmission systems and flags the location of other company crews working nearby. The laptop computers also use global-positioning technology to provide turn-by-turn directions to work locations down to the specific utility pole level. Other FirstEnergy utilities also are installing the new computer technology in their vehicles, which allows those crews to coordinate and work efficiently with Mon Power crews during storm restoration efforts. It is anticipated that the new equipment should help company personnel calculate more precise estimated times of restoration, particularly during large-scale outages, because dispatchers can immediately see which crews are on site and engaged in repairs.

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