SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Wahl William F

(Last)

(First)

(Middle)

C/O ALLEGHENY ENERGY, INC.

800 CABIN HILL DRIVE

(Street)

GREENSBURG

15601

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
05/18/2007

3. Issuer Name and Ticker or Trading Symbol
ALLEGHENY ENERGY, INC [ AYE ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP, Controller and CAO

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $1.25 par value	427.5689	I	ESOSP⁽¹⁾

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Options (right to buy)	⁽²⁾	02/18/2014	Common Stock, par value $1.25 per share	4,000	$13.35	D
Stock Options	⁽³⁾	04/01/2015	Common Stock, par value $1.25 per share	5,000	$20.6	D

Explanation of Responses:

1. Held through the Allegheny Energy, Inc. Employee Stock Ownership and Savings Plan.

2. These Stock Options will vest in equal installments on February 18, 2008 and February 18, 2009, provided in each case that Mr. Wahl is an employee of the Issuer on the applicable vesting date. Upon the occurrence of a change in control of the Issuer (as defined), all Stock Options will immediately vest.

3. One-fifth of these Stock Options vested on April 1, 2006 and one-fifth vested on April 1, 2007. The remaining Stock Options included in this grant will vest in equal installments on each April 1 from 2008 through 2010, provided in each case that Mr. Wahl is an employee of the Issuer on the applicable vesting date. Upon the occurrence of a change in control of the Issuer (as defined), all Stock Options will immediately vest.

	/s/ Amanda J. Skov, Attorney-in-Fact	05/22/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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