LG&E, KU Sale Complete

by Rick Howlett on November 1, 2010

The sale of Louisville Gas and Electric Company and Kentucky Utilities to Pennsylvania-based PPL is complete.

PPL acquired the two companies from parent E.ON U.S. for $7.6 billion. The deal was approved by the Kentucky Public Service Commission last month.

Company spokesperson Chip Keeling in Louisville says there’s not much noticable local impact from the deal.

“Our employees and customers and stakeholders really won’t see any change. It’ll be the same service we’ve always provided,” he said.

Under the terms of the deal, PPL has agreed not to raise base utility rates for three years. It will also keep the two utilities at the current headquarters for at least 15 years.

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