IN THE MATTER OF

FILE NO. 70-8491

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

CETIFICATE OF NOTIFICATION PURSUANT TO RULE 24

UNDER

THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935

Allegheny Energy, Inc.
800 Cabin Hill Drive
Greensburg, PA 15601

_________________

Allegheny Ventures, Inc.
800 Cabin Hill Drive
Greensburg, PA 15601

_________________

The Commission is requested to send copies of all notices, orders
and communications in connection with this Application / Declaration to:

Hyun Park
Vice President and General Counsel
Allegheny Energy, Inc.
800 Cabin Hill Drive
Greensburg, PA 15601 Gayle M. Hyman
Deputy General Counsel
Allegheny Energy, Inc.
800 Cabin Hill Drive
Greensburg, PA 15601

        In the fourth quarter of 2002, Allegheny Ventures, Inc. performed a review of its unconsolidated investments and an assessment of capital distributions from those investments. As a result of this review, Allegheny Ventures, Inc. wrote-off its investment in Envirotech Investment Fund I L.P. (the “Partnership”). The partnership agreement between Allegheny Ventures, Inc. and the Partnership was in effect on December 31, 2004.

        As of December 31, 2004, Allegheny Ventures, Inc. through Envirotech Investment Fund I L.P. (the “Partnership”), held the investments outlined on Exhibit A, attached hereto.  Exhibit A includes investment portfolio information derived from the Partnership’s audited financial statements as of December 31, 2004. The Partnership was organized in the State of Delaware on April 13, 1985 to provide risk capital for, and make investments in the securities of privately held and publicly listed companies, including businesses in the development stage.

        Allegheny Ventures, Inc. did not receive any in-kind distributions from the Partnership during the twelve months ended December 31, 2004.

        The Consolidated Statement of Operations for the twelve months ended December 31, 2004 and the Consolidated Balance Sheet at December 31, 2004 for Allegheny Ventures, Inc., are also included as a part of this filing.

Dated: April 29, 2005 ALLEGHENY VENTURES, INC.


BY: /S/ THOMAS R. GARDNER
——————————————
Thomas R. Gardner
Vice President & Controller

Exhibit A:

(Thousands of dollars)

			As of December 31, 2004
Company:	Investment Date:	Description:	Cost:	Valuation:
QuestAir Technologies, Inc. (Formerly Quest Air Gases)	December 20, 1999	Develops products for the industrial oxygen and fuel cell markets.	$1,817	$1,532
RedPrairie Corporation (Formerly McHugh Software International, Inc.)	October 27, 1998	Warehouse and transportation management software and services.	2,364	4,728
Trexel, Inc.	December 22, 1999	Licenses and manufactures equipment for implementation of microcellular foam technology.	516	258
Valdor Fiber Optics, Inc.	June 23, 1997	Fiber-optic connectors.	1,068	639
			$5,765	$7,157

Allegheny Ventures, Inc.
Consolidated Statement of Operations
(In thousands)
(Unaudited)

	Year ended December 31, 2004
Operating revenues	$	40,016
Operating expenses:
Gas purchases		13
Operations and maintenance		46,364
Depreciation and amortization		2,711
Taxes other than income taxes		731
Total operating expenses		49,819
Operating loss		(9,803	)
Other Income		355
Interest expense		3
Loss before income taxes		(9,451	)
Income tax benefit		3,846
Net loss	$	(5,605	)

December 31, 2004

Allegheny Ventures, Inc.
Consolidated Balance Sheet
(In thousands)
(Unaudited)

	As of December 31, 2004
ASSETS
Current assets:
Cash and cash equivalents	$	7,562
Accounts receivable:
Customer		2,147
Other		2,132
Allowance for uncollectible accounts		(386	)
Materials and supplies		2,987
Deferred income taxes		2,209
Taxes receivable		4,428
Other		173
Total current assets		21,252
Property, plant and equipment:
In service, at original cost		43,068
Accumulated depreciation		(8,698	)
		34,370
Construction work in progress		1,058
Total property, plant and equipment		35,428
Investments and other assets:
Nonutility investments		3,589
Other		370
Total investments and other assets		3,959
Deferred charges:
Deferred income taxes		20,430
Other		58
Total deferred charges		20,488
Total assets	$	81,127
LIABILITIES AND STOCKHOLDER’S EQUITY
Current liabilities:
Accounts payable	$	2,273
Accounts payable to affiliates, net		1,107
Other		2,565
Total current liabilities		5,945
Deferred credits and other liabilities		1,294
Stockholder’s equity:
Common stock		1
Other paid-in capital		210,156
Retained deficit		(136,269	)
Total stockholder’s equity		73,888
Total liabilities and stockholder’s equity	$	81,127