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LG&E, KU For Sale?

By Rick HowlettLouisville Mayor Jerry Abramson says EON officials would not confirm or deny to him Tuesday that they are considering selling Louisville Gas and Electric Company and Kentucky Utilities.Reports to that effect came out overnight from several media sources.Abramson says state and city officials want a seat at the table if there is a sale as government ownership of the utilities would be favorable for consumers.He says officials looked into the possibility of buying the companies in 2004 when there were rumors of a sale."Our theory six years ago was that instead of a 12-and-a-half percent return, which is what LG and E is given today by the Public Service Commission, we could make it on one percent, two percent return, which would give us a chance to keep our rates low, give us the chance to ulitimately insure both the residential and business rate payers that they would be in control of their own destiny,"Analysts say the companies could be worth about six billion dollars.

Rick Howlett was midday host and the host of LPM's weekly talk show, "In Conversation." He was with LPM from 2001-2023 and held many different titles, including Morning Edition host, Assignment Editor and Interim News Director. He died in August 2023. Read a remembrance of Rick here.