AES to retain DPL Inc. generation assets

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AES to retain DPL Inc. generation assets AES Corporation has decided to retain DPL Inc.’s (DPL) 3,453 MW of generating assets.DPL Inc. through its subsidiary The Dayton Power and Light Company (DP&L) is a public utility that sells electricity to residential, commercial, industrial, and governmental customers in a 6,000-square-mile (16,000 km2) area of West Central Ohio.

Of this capacity, 2,897 MW owned by DP&L, a subsidiary of DPL, will be transferred to a separate affiliate of DPL by January 1, 2017, as directed by the Public Utilities Commission of Ohio (PUCO) in DP&L’s Electric Security Plan (ESP). The commission had approved either the outright sale to a third party or parties of the Dayton assets, or a transfer of those assets to a non-regulated affiliate.

In light of the potential recovery of power prices, AES believes that this business has additional value that can be captured by continuing to own and operate these generating assets.

According to AES, additional details will be provided by the second quarter 2014 financial results conference call, scheduled for Thursday, August 7, 2014.

DP&L's jointly-owned coal plants/units are: Beckjord Unit 6, Conesville Unit 4, East Bend Unit 2, Killen, Miami Fort Units 7 and 8, Stuart and Zimmer. DP&L owns outright the following plants: Tait Units 1-3 and diesels, Yankee Street, Yankee Solar, Monument and Sidney.

In addition, DP&L also owns a 4.9% equity ownership in Ohio Valley Electric, which has two coal-fired plants with a combined generation capacity of about 2,109 MW. DP&L's share of this generation capacity is about 103 MW.

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