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.
Prime rate or prime lending rate is a term applied in many countries to reference an interest rate used by banks.The term originally indicated the interest rate at which banks lent to favored customersâi.e., those with good creditâbut this is no longer always the case.Some variable interest rates may be expressed as a percentage above or below prime rate.he prime rate varies little among banks and adjustments are generally made by banks at the same time, although this does not happen frequently. The prime rate is currently 3.25% in the United States and 2.85% in Canada.
Significance. In August 2010, the prime rate stood at 3.25 percent, a relatively low figure in its history. The rate is used to determine interest charged on credit cards, for home-equity loans and lines of credit, personal loans, car loans and some adjustable-rate mortgages.