Pricing Supplement Dated December 7, 1999 Rule 424(b) (2)
(To Prospectus dated July 31, 1997, and File No. 333-31493
Prospectus Supplement dated November 14,1997)
MONONGAHELA POWER COMPANY
Medium-Term Notes - Fixed Rate
Principal Amount: $110,000,000 Interest Rate: 7.36%
Agents Discount or Commission: .625% Stated Maturity Date: 01/15/2010
Nets Proceeds to Issuer: $109,312,500 Original Issue Date: 12/10/1999
Interest Payment Date(s): March 1 and September 1
Redemption:
: X The Notes cannot be redeemed prior to the Stated Maturity Date.
: The Notes may be redeemed prior to the Stated Maturity Date.
Initial Redemption Date:
Initial Redemption Percentage: ______%
Annual Redemption Percentage Reduction: ____% until Redemption
Percentage is 100% of the Principal Amount.
Optional Repayment:
: X The Notes cannot be repaid prior to the Stated Maturity Date
: The Notes can be repaid prior to the Stated Maturity Date at the
option of the holder of the Notes.
Optional Repayment Date(s):
Repayment Price: ______ %
Currency:
Specified Currency: ____________US____________ (If other than
U.S. dollars, see attached)
Minimum Denominations: ________________ (Applicable only if
Specified Currency is other than U.S. dollars)
Original Issue Discount: : Yes : No X
Total Amount of OID: Yield to Maturity:
Initial Accrual Period: Issue Price: ____%
Form: X: Book-Entry : Certificated
Agent: Merrill Lynch & Co $36,045,000
Goldman Sachs 36,955,000
J. P. Morgan Securities, Inc. 37,000,000
Agent acting in the capacity as indicated below:
X: Agent :Principal
If as principal:
: The Notes are being offered at varying prices related to
prevailing market prices at the time of resale.
: The Notes are being offered at a fixed initial public
offering price of % of Principal Amount.
If as Agent:
The Notes are being offered at a fixed initial public offering
price of 100% of Principal Amount.
Other Provisions:
Unsecured CUSIP NO. 61020FAF1
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RIDER TO PRICING SUPPLEMENT
In recent years the regulatory environment governing
the electric utility industry in the various states has been
undergoing substantial change. If the regulatory environment
changes in West Virginia in a manner which leads to a
restructuring of the utility industry in that state, the Company
might at some future time determine to transfer its generating
assets to a sister company, Allegheny Energy Supply. In that
case, the Company may be required to alter its capital structure.
Although the West Virginia Public Service Commission has been
considering the question of restructuring, and informal
negotiations have taken place among interested parties, no
agreements have been reached to date and it is unclear when, if
ever, such a restructuring might be implemented. In November
1999, in connection with implementation of the restructuring
mandated by the Pennsylvania Competition Act, the Company's
sister company, West Penn Power Company, completed transactions
in which all of West Penn's generating assets were transferred to
Allegheny Energy Supply.
