News

PPL is spinning off energy supply unit

Written by The Associated Press | Jun 11, 2014 7:17 AM
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(Allentown) -- PPL, a major energy company that serves the midstate, is spinning off its PPL Energy Supply unit, at least the second major utility this year to distance itself from the volatility of the power plant business.

The PPL unit is being rolled into the power generation business of energy investment firm Riverstone Holdings LLC, and it will become an independent and public corporation called Talen Energy, traded on the New York Stock Exchange.

The influx of massive quantities of natural gas in the U.S. has generally pushed electricity prices lower, even with upticks like last winter, when bills were driven higher by severe weather.

Major regulated utilities need to be able to anticipate price swings with some certainty, and that has become increasingly difficult at the level in which the Energy Supply unit operates.

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