PUCO approves merger of AES Corp. and Dayton Power & Light

COLUMBUS, OHIO (Nov. 22, 2011) – The Public Utilities Commission of Ohio (PUCO) today approved a set of agreements allowing the merger of AES Corp. and Dayton Power & Light (DP&L).  In its ruling, the Commission accepted three separately filed agreements that outline provisions benefitting DP&L’s ratepayers, employees and the Dayton community. Upon completion of the merger, DP&L will become a wholly-owned subsidiary of AES. 

“After careful consideration of the application and input from a wide range of stakeholders, we believe the merger between AES and DP&L will benefit DP&L customers and protect Ohio jobs,” PUCO Chairman Todd Snitchler stated.

In approving the merger application, the Commission includes the following terms and conditions:

• Costs directly related to the negotiation, approval and closing the merger will not be recovered from DP&L ratepayers;
• AES will maintain DP&L’s operating headquarters in Dayton for at least five years following the merger;
• DP&L will not implement any involuntary workforce reductions that result in DP&L employing less than 90 percent of its current employment level for at least three years;
• DP&L will commit $700,000 in economic development to the city of Dayton, $400,000 for low-income assistance, and $75,000 towards the Ohio Hospital Association’s energy efficiency and demand reduction efforts.

A copy of today’s Commission finding and order is available at www.PUCO.ohio.gov. Click on the link to Docketing Information System and enter the case number 11-3002-EL-MER.

-30-

11-3002-EL-MER

The Public Utilities Commission of Ohio (PUCO) is the sole agency charged with regulating public utility service. The role of the PUCO is to assure all residential, business, and industrial consumers have access to adequate, safe, and reliable utility services at fair prices while facilitating an environment that provides competitive choices. Consumers with utility-related questions or concerns can call the PUCO Call Center at (800) 686-PUCO (7826) and speak with a representative.

Subscribe and Unsubscribe to the PUCO Media Release e-mail service