Proposed Kentucky Legislation Would Force Coop Merger
Posted on Feb 22, 2013 in Legislative & Politics, Mergers/Acquisitions, Rates | Comments Off on Proposed Kentucky Legislation Would Force Coop Merger
A proposed Kentucky legislative bill would force Big Rivers Electric Corporation (Big Rivers) and East Kentucky Power Cooperative to merge “as quickly as can be reasonably and economically accomplished.” House Bill 423 is intended to address the significant rate hike Big Rivers customers may face due to the coop’s impending loss of approximately 70 percent of its power sales to two aluminum smelters. As The Gleaner reports, the bill is highly controversial among industry participants and lawmakers.
