Md. Approves FirstEnergy-Allegheny Energy Merger

HAGERSTOWN, Md. (AP) -- The Maryland Public Service Commission is approving the proposed merger of Allegheny Energy Inc. and FirstEnergy Corp.

The companies announced the decision Wednesday. They have 30 days to raise any objections to conditions that largely reflect what the companies proposed.

Those conditions include a $6.5 million payment to Allegheny's residential customers, amounting to a one-time credit of about $29 each.

The merged company also must contribute $600,000 to Maryland's energy assistance program and open a regional headquarters within its Maryland service territory.

Allegheny is based in Greensburg, Pa., and has 250,000 Maryland customers.

FirstEnergy is based in Akron, Ohio.

Virginia and West Virginia have approved the deal.

(Copyright 2011 by The Associated Press. All Rights Reserved.)