Public Citizen challenge to private equity firm Riverstone Holdings trying to keep its ownership secret

By Tyson Slocum

A private equity firm, Riverstone Holdings LLC, applied for permission at the Federal Energy Regulatory Commission to acquire controlling equity of the Conemaugh and Keystone Electric Generating Stations from ArcLight Energy Partners. Conemaugh and Keystone each are 1,700 MW coal-fired power plants located in Pennsylvania. In the application, Riverstone seeks to keep the names of the individual owners of the private equity firm a secret, claiming that the names themselves are “commercially sensitive”. Public Citizen challenges that secrecy, arguing that the public has a right to know the owners of coal-fired power plants. Public Citizen’s cursory review suggests the names of the two owners are Pierre F. Lapeyre Jr. and David M. Leuschen. The fact that these two names appear to be widely and publicly reported undermines the Application’s contention that they are “commercially sensitive”, and therefore are not entitled to be shielded from the public. Read the full, two page filing here: Riverstone