KENTUCKY NEWS: PPL, E. OK To Apply The LG & E, Utility Transfer From Kentucky

PPL Corporation and E. ON AG has officially asked regulators Friday Kentucky PPL proposed purchase of LG & E and utilities to approve Kentucky.

The company reiterated the commitments of both companies have announced $ 7600000000 last month reached an agreement – it is the seat of the utilities will remain in Louisville and Lexington, and that PPL does not reduce its work in relation to climate change owner, E. ON U. S. Representative Chip Keeling said.

“We are very happy, the business forward,” said Keeling.

Kentucky Public Service Commission is expected by the end of September that the sale can not generally be prosecuted. In addition, the agreement must be approved by the Federal Energy Regulatory Commission and the regulation of the Virginia and Tennessee.

When he bought two Kentucky utilities in 2002, the German company E. ON AG plans to make Louisville its U.S. base to expand into other countries.

However, The later abandoned those plans, and has recently engaged in the sale to reduce debt. The proposed sale of PPL previously known as Pennsylvania Power and Light.

Public Service Commission representative Andrew Melnykovych said that by law, the decision of the Commission, the capacity of most PPL whether technical, administrative and financial, to both utilities and begin laying the groundwork for good service.

It seems simple barriers PPL, which serves four million electricity customers vehicles.

Nevertheless, the Commission must also determine whether a change in the ownership structure in the public interest, which paves the way for imposing conditions on the case.

Planned sale will be used as LG & E and Kentucky Utilities, from the public. LG & E will increase by 12 per cent of electric and gas rates by 8 percent, while KU proposes to raise electricity rates about 12 percent.

Request for change of ownership, said the two programs will not increase interest rates on prices, “said Keeling. PSC will review the sales and application rates separately.

But the Attorney General of Kentucky, Jack Conway said he was on the Commission to suspend the proceedings before the sales rate has decided to ask the new owners – not a stranger – to protect the higher prices.

Conway spokeswoman Allison Martin said he may file a motion next week.

Reporter Patrick Howington can be reached at 582-4229 (502). Reporter Jere Downs can be reached at 582-4669.

Tags: Breaking news, Daily news, Federal Energy Regulatory Commission, German company, Kentucky Public Service Commission, News, PPL Corporation, U. S. Representative Chip Keeling

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