The deal ends the 100-year existence of DPL-owned Dayton Power and Light Co. as an independent company. AES has promised to keep DPL’s headquarters in Dayton for at least five years, and not to reduce Dayton Power and Light’s work force below 90 percent of its current level of approximately 1,500 people for at least three years.
AES also owns Indianapolis Power & Light Co., which it bought in 2001. AES said it wanted DP&L in order to expand the new owner’s presence in the Midwest.
DP&L’s electricity rates are locked in through the end of 2012, having already been approved by the Public Utilities Commission of Ohio for that period.
AES has promised not to pass along to DP&L ratepayers any expenses directly related to the negotiation, approval and closing of the merger.
Contact this reporter at (937) 225-2242 or jnolan@DaytonDailyNews.com.
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