SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 June 23, 2003 Date of report (Date of earliest event reported) ALLEGHENY ENERGY, INC. (Exact name of registrant as specified in charter)
Maryland	1-267		13-5531602
(State or Other Jurisdiction of Incorporation)	(Commission File Number)		(IRS Employer Identification No.)
10435 Downsville Pike Hagerstown, Maryland (Address of principal executive of offices)		21740-1766 (Zip code)
Registrants telephone number including area code:    (301) 790-3400
N/A (Former Name or former address if changed since last report)

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Item 1-6.		Not applicable
Item 7.		Exhibit.     The following exhibit is filed herewith pursuant to Item 9:
	Exhibit 99.1      Press Release Issued by Allegheny Energy, Inc. on June 23, 2003      announcing that its common equity ratio (common equity to capital      capitalization) has fallen below the level required under certain key      Securities and Exchange Commission (SEC) authorizations. As a result,      the Company will be required to obtain further SEC authorization to      engage in financing and other activities that are critical to its near-term      financial viability.
Item 8.	Not applicable.
Item 9.		Regulation FD Disclosure      The information in this report, including the exhibit, is being furnished      pursuant to Item 9 and shall not be deemed "filed" for purposes of      Section 18 of the Securities Exchange Act of 1934.      Allegheny Energy, Inc. announced on June 23, 2003 its common equity      ratio (common equity to capital capitalization) has fallen below the level      required under certain key Securities and Exchange Commission (SEC)      authorizations. As a result, the Company will be required to obtain      further SEC authorization to engage in financing and other activities that      are critical to its near-term financial viability.
Item 10-12.	Not applicable.

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SIGNATURES

            Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ALLEGHENY ENERGY, INC.

By:          /s/ Michael P. Morrell

Name:     Michael P. Morrell
Title:       Senior Vice President

DATED:  June 24, 2003

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EXHIBIT INDEX

Exhibit Number                                                             Description

99.1                              Press Release Issued by Allegheny Energy, Inc. on June 23, 2003
                                     announcing that its common equity ratio (common equity to capital
                                     capitalization) has fallen below the level required under certain key
                                     Securities and Exchange Commission (SEC) authorizations. As a
                                     result, the Company will be required to obtain further SEC
                                     authorization to engage in financing and other activities that are
                                     critical to its near-term financial viability.