Allegheny reduces trading exposure with contract sale

The company’s Allegheny Trading Finance unit signed an agreement in Augustto sell its energy supply contract with the California Department of Water Resources(CDWR) and associated hedge transactions to J Aron & Company. The sale priceis subject to adjustment based both on changes in the mark-to-market value atclosing and on the number of trades to be assumed by J Aron.

Debt reduction
Allegheny says it will use proceeds from the sale to reduce debt, improve liquidity and fund the cost of

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