Allegheny Energy owns approximately 9,600 megawatts of generating capacity. The parent company s regulated utilities include West Penn Power Company, Monongahela Power Company and The Potomac Edison Company. It generates electricity through various fuel sources, including coal, pumped-storage plants, water and steam.
DEFINITION of 'Prime Rate'. The interest rate that commercial banks charge their most credit-worthy customers. Generally a bank's best customers consist of large corporations.The prime interest rate, or prime lending rate, is largely determined by the federal funds rate, which is the overnight rate which banks lend to one another.he interest rate that commercial banks charge their most credit-worthy customers. Generally a bank's best customers consist of large corporations.
target range for the fed funds rate at 0.25% - 0.5%. Therefore, the United States Prime Rate remains at 3.5%. The U.S. Prime Rate is a commonly used, short-term interest rate in the banking system of the United States. All types of American lending institutions (traditional banks, credit unions, thrifts, etc.) use the U.S. Prime Rate as an index or foundation rate for pricing various short- and medium-term loan products.