Allegheny to accelerate power procurement schedule
PENNSYLVANIA - Allegheny Power, the electricity delivery unit of Allegheny Energy, Inc. AYE, announced that the Pennsylvania Public Utility Commission has approved the companyÂ’s request to accelerate its power procurement schedule for residential customers.
The change will move the companyÂ’s first power auction from June 2009 to April 2009, as well as expand the amount purchased in June. The accelerated schedule is expected to benefit residential customers by taking advantage of recent declines in the market price of power.
The April auction will be the first in a series to procure power over a multi-year period for AlleghenyÂ’s Pennsylvania customers for the period beyond December 31, 2010, when generation rate caps expire. The multiple auctions are designed to protect customers against over-exposure to market conditions at any single point in time, much like a dollar cost-averaging strategy to investing.
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Gaza’s sole electricity plant shuts down after running out of fuel
GAZA - The only electricity plant in the Gaza Strip shut down yesterday after running out of fuel banned from entering the besieged enclave by the Israeli occupation, Gaza Electricity Distribution Company announced.
“The power plant has shut down completely,” the company said in a brief statement.
Israel banned fuel imports into Gaza as part of punitive measures over the launching incendiary balloons from the Strip.
On Sunday, GEDCO warned that the industrial fuel for the electricity plant would run out on Tuesday morning.
Since 2007, the Gaza Strip suffered under a crippling Israeli blockade that has deprived its roughly two million inhabitants of…
