KU Energy, LG&E Would Merge
KU Energy and LG&E Energy have announced a merger agreement that could save the companies more than $760 million over 10 years and result in a rate cut of almost 2 percent for each of the next five years.
KU Energy, the parent company of Kentucky Utilities Co., and LG&E Energy, the parent of Louisville Gas & Electric Co., on May 21 announced the agreement to merge into a new holding company called LG&E Energy. The transaction is valued at more than $3 billion, with the combined companies holding assets of more than $4.7 billion.