GREENSBURG, Pa. (AFX) - Allegheny Energy Inc. on Monday said its Potomac Edison Co. subsidiary plans to quit filing certain reports with the Securities and Exchange Commission, according to regulatory rules.
The utility company said Potomac is eligible to suspend its reporting obligations because it has fewer than 300 shareholders of record.
Allegheny said the move is part of an effort to streamline operations.
Shares of Allegheny Energy closed up 27 cents to $37.17 on the New York Stock Exchange.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.