Public Citizen has asked the Federal Energy Regulatory Commission to make public the purchase price and payment structure for four 53-year-old oil-fueled power plants at the Morgantown Generating Station in Charles County.
The motion, filed June 4, 2026, in FERC docket EC26-58, argues that joint applicants improperly claimed the information is protected under FOIA Exemption 4 as trade secrets or confidential commercial or financial information. Public Citizen contends the claim is baseless and that the Commission should grant public access to Section 2.03 of the Purchase Agreement under 18 CFR § 388.112(e).
Morgantown Power LLC is a public utility “affected with a public interest” under federal law, requiring FERC approval for any ownership transfer. The purchase price is a critical element in the Commission’s public interest review, Public Citizen states.
Comparable transactions in the PJM market have routinely disclosed purchase prices. Recent examples include DigitalBridge’s $1.1 billion deal for ArcLight’s fleet, a $1.5 billion gas plant acquisition by a bitcoin miner pivoting to data centers, LS Power’s $5 billion purchase of five gas-fired plants from Constellation, Talen’s $3.45 billion acquisition of three natural gas plants, Vistra’s $4 billion purchase of 10 gas plants, and Blackstone’s $1 billion deal for an eight-year-old gas plant in PJM. Public Citizen notes that applicants have not explained why this older facility’s price requires protection while newer plants in the same market do not.
The motion highlights FOIA’s 2016 amendments, which require agencies to show that disclosure would result in foreseeable harm to a protected interest under Exemption 4. Public Citizen states that no such justification has been provided, especially given recent public disclosures of similar deals in the region.
Historical purchase prices for Morgantown have been public for decades. When Pepco sold the plant and other assets in 2000, the $2.75 billion price was widely reported. NRG disclosed its $1.7 billion purchase of Morgantown and GenOn in 2017.
Public Citizen also points to non-public communications between TeraWulf’s CEO and Maryland’s governor indicating that TeraWulf is seeking $100 million in taxpayer funds to help cover acquisition costs. The group argues this makes Section 2.03 of the Purchase Agreement a matter of public interest that should be disclosed.
TeraWulf plans to immediately convert the oil-fueled units to natural gas. The conversion would require approximately 20 miles of new natural gas pipeline, potentially routed through the existing CSX rail right-of-way in Charles County to connect with Berkshire Hathaway’s Eastern Gas transmission line. Other options include repurposing the long-dormant Piney Point Oil Pipeline system under the Wicomico River or developing an LNG import facility at the Morgantown site. Public Citizen states that these planned improvements fundamentally transform the facility and render any claim of confidentiality moot.
The Morgantown site has been the subject of local discussion regarding its future use, including potential data center development. The proposed pipeline routes and conversion plans have raised questions about infrastructure impacts in Charles County and surrounding areas.
Public Citizen filed the motion under 18 CFR § 385.212 and urges the Commission to grant access to the redacted section of the agreement.
