LG&E and KU Energy

LG&E and KU Energy is a subsidiary of PPL Corporation, based in Louisville, Kentucky. It is composed of the following companies:

The company was created in 1998, when LG&E Energy, parent of LG&E, acquired KU Energy, parent of KU and ODP. In 2000, Powergen, a British-based company, acquired LG&E Energy, which still operated under that name. In 2002, German-based E.ON acquired Powergen; the following year, in 2003, E.ON transferred the LG&E Energy group to its American subsidiary, E.ON US Holdings.

On April 28, 2010, PPL and E.ON announced a definitive agreement in which PPL was to acquire E.ON US for $7.625 billion. The sale was closed on November 1, 2010, with E-ON US becoming LG&E and KU Energy.[1]

LG&E

The Louisville Gas & Electric Company traces its origins to 1838 and the Louisville Gas & Water Co. which distributed gas to the Louisville area (but not water, despite the name). It merged with other local utilities to form the Louisville Gas & Electric Company in 1913, and built a pipeline to West Virginia for natural gas delivery a year later. The 178-mile pipeline was the longest of its kind at the time. The company developed a hydroelectric plant at the McAlpine Locks and Dam starting in the 1920s, which was initially one of the largest in the world.[2]

LG&E reorganized as a holding company in 1990 to expand its operations, and by 1997 when it merged with KU Energy, it was one of the largest energy marketers in the United States.[3]

References

  1. ↑ "PPL Completes Acquisition of Two Kentucky Utility Companies". PPL Newsroom.
  2. ↑ Cook, Karen (2000-02-29). "LG&E Through the Years". Courier-Journal. pp. 6A.
  3. ↑ Holden, Benjamin (1997-05-02). "LG&E to Acquire KU Energy In $1.43 Billion Stock Swap". Wall Street Journal.


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