PPL Electric Utilities plans a corporate restructuring, but its not what you might think, the company says.
In a filing with state regulators, Allentown-based PPL Electric wants to create two new holding companies to make it easier move cash among its subsidiaries. The move, which is subject to regulatory approvals, will not affect utility operations, customers bills or the companys local workforce, PPL spokesman Ryan Hill said Wednesday.
Hill said the new companies would be positioned between owner PPL Corp. and the utilities it operates in the U.S. and United Kingdom. He said the restructuring, if approved by the state Public Utility Commission and other agencies, will allow the corporation to move money more …
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