About 200 Louisville Gas and Electric and Kentucky Utilities employees gathered at the Kentucky Center in downtown Louisville Thursday to hear about their companies’ impending sale.
Underneath a banner that read “Committed to Kentucky,” PPL Corporation President and CEO Jim Miller told the workers that little will change if his company purchases LG&E and KU from E-ON US. The headquarters and management will remain intact, and PPL plans to hold on to the utilities and not sell them for profit.
“I couldn’t be more thrilled about the great things I think we’re going to do together,” he said. “We’re going to combine our learnings. We’re going to exchange and steal best practices from one another.”
E-ON US CEO Vic Staffieri added that PPL will also maintain the utilities’ philanthropic endeavors.
“PPL has committed to maintaining the same level of charitable contributions and community activities that LG&E and KU now provide,” he said. “To sum it up: while our ownership may be changing, many things remain the same.”
The $7.6 billion sale still must be approved by public service commissions in Pennsylvania, Kentucky and Virginia, where some KU customers live