FirstEnergy finds buyer for Pennsylvania natural gas plants

Ohio-based FirstEnergy Corp. is selling four natural gas-fueled power facilities in Pennsylvania and its hydroelectric assets for $925 million to LS Power Equity Partners III LP, a New York-based electric power developer, reports the Pittsburgh Post-Gazette. The newspaper says the agreement includes natural gas-fired power plants in Allegheny, Greene, Franklin and Luzerne counties as well as a hydroelectric storage facility in Virginia. The sale has been in the works for months and is part of FirstEnergy's plan to get out of the unregulated competitive power generation business, according to the Post-Gazette. For more, read the full story.

Ohio, Pennsylvania