Duquesne Light Response to PUC Ruling on 2005-2010 Energy Supply Plan
Considering Options, Including Appeal
PITTSBURGH, Aug. 19 /PRNewswire-FirstCall/ -- The Pennsylvania Public Utility Commission today announced its decision rejecting Duquesne Light Company's (NYSE: DQE) plan to supply a secure source of electricity for customers from 2005 through 2010. While deferring full reaction until it receives and reviews a copy of the official order, Duquesne Light officials expressed disappointment with initial reports of the decision and will consider a full range of options to protect the interests of its customers and shareholders. "No customers in the state have benefited more than Duquesne Light's as a result of the innovative steps we have taken since the deregulation of electric generation in Pennsylvania," said Morgan K. O'Brien, president and chief executive officer. "In developing our supply proposal, we've, once again, worked very hard with the Office of the Consumer Advocate, the Office of Small Business Advocate and the Duquesne Industrial Intervenors to provide what our customers have said they wanted -- a reliable, secure energy source at reasonable prices -- for a six-year period. The administrative law judge, who presided over the case and weighed considerable testimony from a variety of parties, agreed with our amended proposal. Today's decision by the PUC commissioners to reject that consensus plan -- approved by its own administrative law judge -- jeopardizes our ability to do that. In addition to potentially exposing our customers to an uncertain energy marketplace in 2008, limiting our supply plan to three years likely will prevent us from providing service at the rates outlined in the PUC news release." About Duquesne Light Duquesne Light Company is a leader in the transmission and distribution of electric energy, offering superior customer service and reliability to more than half a million customers in southwestern Pennsylvania.
SOURCE Duquesne Light
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