By Chip Keeling Looking back to years past
makes me think about how far we have come in a number of ways, but from an energy provider perspective, how
much of the past is actually circling around to the present. Throughout every point in LG&E and KU’s
long history, we have committed ourselves to maintaining some of the lowest rates in the country. In
addition, we have placed top priority on award-winning customer service, safety and reliability.
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| Same company, new look. |
We were pioneers in applying technology to our generating units to achieve
remarkable reductions in emissions and have met environmental compliance requirements each step of the way.
Further, we are recognized as an excellent corporate citizen, proudly invested in the communities we serve.
The milestones attained by our companies are numerous and far-reaching, and today marks another important
achievement. Allow us to reintroduce ourselves
With today’s
close of PPL Corporation’s acquisition of our company, we have a renewed focus on our core brands of LG&E
and KU and the values they stand for — safe, reliable, affordable energy with award-winning customer
service. Simply
put, we’ve returned home.
PPL has demonstrated that they have similar values and
beliefs as those of LG&E and KU. When we announced the transaction in April, PPL made a series of
commitments to the Commonwealth of Kentucky, our customers, employees and civic and community groups. As a
result of those commitments our local leadership remains intact, more than 3,100 jobs have been preserved,
the LG&E and KU headquarters remain in Louisville and Lexington, and we continue our same level of
charitable giving and economic development in the communities we serve.
PPL
enhanced those commitments by agreeing to not increase base rates until at least January 2013 and to
implement an earnings sharing mechanism with customers for up to five years.
In a testament to the soundness
of the acquisition, we are closing the transaction ahead of schedule having obtained the necessary
regulatory approvals and swift completion of financing.As we begin the next leg of our journey, I am confident that this
combination will be good for Kentucky, our customers, our employees and our new shareholders.While we have changed dance partners over the
years, the music remains the same.
