Allegheny Power Doubles Profit on Higher Prices, Cost Cutting
Ralph W. reports:
Allegheny Energy (AYE 52.60, +0.45, +0.9% ) posted a second-quarter profit of $77 million, or 45 cents a share, up from $31.1 million, or 18 cents a share, a year ago, due to higher prices and cost cutting. Operating revenue rose to $826.5 million from $722.2 million a year earlier.
By the way, you are the ones paying the higher prices.