X0202 4 2007-11-16 0 0000003673 ALLEGHENY ENERGY, INC AYE 0001266111 GOULDING PHILIP L C/O ALLEGHENY ENERGY, INC. 800 CABIN HILL DRIVE GREENSBURG PA 15601 0 1 0 0 Sr. Vice President & CFO Common Stock, $1.25 par value 2007-11-16 4 M 0 100000 13.35 A 198972 D Common Stock, $1.25 par value 2007-11-16 4 S 0 5000 57.95 D 193972 D Common Stock, $1.25 par value 2007-11-16 4 S 0 5000 57.75 D 188972 D Common Stock, $1.25 par value 2007-11-16 4 S 0 10000 57.70 D 178972 D Common Stock, $1.25 par value 2007-11-16 4 S 0 3760 57.67 D 175212 D Common Stock, $1.25 par value 2007-11-16 4 S 0 2000 57.66 D 173212 D Common Stock, $1.25 par value 2007-11-16 4 S 0 20000 57.65 D 153212 D Common Stock, $1.25 par value 2007-11-16 4 S 0 10000 57.60 D 143212 D Common Stock, $1.25 par value 2007-11-16 4 S 0 2000 57.58 D 141212 D Common Stock, $1.25 par value 2007-11-16 4 S 0 9500 57.55 D 131712 D Common Stock, $1.25 par value 2007-11-16 4 S 0 5000 57.51 D 126712 D Common Stock, $1.25 par value 2007-11-16 4 S 0 5000 57.50 D 121712 D Common Stock, $1.25 par value 2756.4053 I ESOSP Stock Options (right to buy) 13.35 2007-11-16 4 M 0 100000 D 2014-02-18 Common Stock 100000 646403 D Represents shares of the Issuer's Common Stock issued to Mr. Goulding in connection with the exercise of Stock Options pursuant to a 10b5-1 Trading Plan. Shares sold in connection with the exercise of Stock Options pursuant to a 10b5-1 Trading Plan. Held through the Allegheny Energy, Inc. Employee Stock Ownership and Savings Plan. The Stock Options were granted under the Issuer's Long Term Incentive Plan. Mr. Goulding was granted 1,500,000 Stock Options on February 18, 2004. One-fifth of the Stock Options vested on each October 13 from 2004 through 2007. The remaining Stock Options will vest on October 13, 2008, provided that Mr. Goulding is an employee of the Issuer on the applicable vesting date. Upon a change in control of the Issuer (as defined), all Stock Options will immediately vest. /s/ Amanda J. Skov, Attorney-in-Fact 2007-11-20