The new power company that PPL Corp. and Riverstone Holdings want to spin off would be too, well, powerful, according to a watchdog organization charged with overseeing the competitive balance of the Mid-Atlantic's electricity markets.
PPL Electric Utilities of Allentown, Pennsylvania, has sent in a proposal to build a transmission line from Western Pennsylvania into New Jersey, Maryland and New York, as well as parts of its home state, Pennsylvania.
PPL Corporation, with 2013 revenues of $12 billion, is one of the largest companies in the U.S. utility sector. The PPL family of companies delivers electricity and natural gas to about 10 million customers in the United States and the United Kingdom.
On 31 JULY PPL Corporation (NYSE:PPL) announced Thursday (7/31) that its Pennsylvania utility, PPL Electric Utilities Corporation, is proposing to build a major new regional transmission line that would make electric service more reliable and enhance ...