LG&0E Cuts PacifiCorp Out of Big Rivers Deal
In a court-ordered auction held March 19, a federal bankruptcy court judge selected a proposal by LG&E Energy Corp. to lease the generating assets of Big Rivers Electric Corp.
LG&E Energy will lease about $1.3 billion of the generating assets of the bankrupt Henderson, Ky., cooperative for 25 years, and provide power to Big Rivers to serve its member cooperatives and 90,000 customers.
Previously, it appeared PacifiCorp would get the lease agreement, which is the centerpiece of the Big Rivers' reorganization plan. But U.S. District Judge Jennifer B.