Louisville Gas & Electric (LG&E) is a utilities company based in Louisville, Kentucky. A subsidiary of PPL Corporation through the LG&E and KU Energy subsidiary,[1] LG&E serves over 429,000 electric and over 333,000 natural gas customers, covers an area of 700 square miles (1800 km2), and has a total regulated electric generation capacity of 2,760 megawatts.[2]
LG&E was formed in 1838 as Louisville Gas and Water but dropped its plans to provide water utilities in 1842 changing its name simply to Louisville Gas. LG&E was originally formed by investors with the intention of providing gas-fired street lighting which had been mandated in order to help prevent crime.
In 1890 LG&E (Louisville Gas at this point) amended its charter to buy stock in electric companies and acquired Louisville Electric light.
In 1913, Louisville Gas, Louisville Lighting, and Kentucky Heating merged to form Louisville Gas & Electric (LG&E).[4]
In 1979, the construction of Trimble Country electric generation station started.[5]
In 1990, LG&E reorganized itself as a holding company LG&E Energy Corporation.
In 1998, LG&E Energy merged with the other major electric utility in Kentucky, Kentucky Utilities.
In 2000, LG&E Energy was bought by British utility companyPowergen. In 2002, Powergen was bought by the German company E.ON.
In 2003, LG&E Energy changed its name to E.ON US. Finally, in 2010, E.ON US was bought by PPL Corporation. PPL changed the name of the company to LG&E and KU Energy LLC.[6]
Since 2011, the company's bills are available to be paid at Walmart.[7]
PPL and E.ON announced on April 28, 2010, a definitive agreement under which PPL will acquire E.ON US for $7.625 billion.[9] The sale was closed on November 1, 2010.[10]
Process for Calculating Customer Gas Billingedit
Under its contract with the Kentucky Public Service Commission (PSC), LG&E estimates two out of every three months' of each customer's gas consumption. This allows the publicly traded company to ensure it hits projected revenue estimates reported quarterly to its stockholders regardless of actual customer consumption. Under its PSC contract, the company is only required to attempt one actual, manual read of each customer's gas meter per quarter, and is only required to actually complete a manual read once per every six months. Under the company's stated theory, this means that although the customer has been billed based on estimates and anticipated revenue for 5 months, the account billed will true-up on the 6th month when a manual read is completed. The subsequent quarter can then begin with several months of estimated reads that allow the company to report achievement of its projected revenue to stockholders. Consumer complaints show that in actuality this practice wildly overestimates customer usage for the first 5 months of a billing period in able for the company to report to stockholders that projected revenues were achieved and for employee bonuses to be dispersed, then for the correction for overbilling to occur in the first month of the subsequent billing cycle, giving customers either just 1 out of 3 months with correct billing or just 1 out of 6 months with correct billing.
If the cumulative total of manual reads equals revenue less than projected to stockholders, LG&E is permitted to spread the difference across its customers' accounts.
Consumer Reviews and Ratingsedit
As of March 2023, LG&E receives a 1.6 star rating out of 5 on Google Reviews,[11] with the majority of reviews mentioning poor customer service and significant, unexplained increases in bills for services. Similarly, LG&E has a cumulative rating of 1.0 stars out of 5 on Yelp[12] as of March 2023 and a BBB consumer rating of 1.5 stars out of 5.[13]
^"Louisville Gas & Electric Company"publisher=Better Business Bureau".
External linksedit
LG&E and KU Energy Home Page
December 08, 2023
louisville, electric, utilities, company, based, louisville, kentucky, subsidiary, corporation, through, energy, subsidiary, serves, over, electric, over, natural, customers, covers, area, square, miles, 1800, total, regulated, electric, generation, capacity, . Louisville Gas amp Electric LG amp E is a utilities company based in Louisville Kentucky A subsidiary of PPL Corporation through the LG amp E and KU Energy subsidiary 1 LG amp E serves over 429 000 electric and over 333 000 natural gas customers covers an area of 700 square miles 1800 km2 and has a total regulated electric generation capacity of 2 760 megawatts 2 The President is John R Crockett III 3 Contents 1 History 2 Generation 3 Acquisition by PPL Corporation 4 Process for Calculating Customer Gas Billing 5 Consumer Reviews and Ratings 6 References 7 External linksHistory editLG amp E was formed in 1838 as Louisville Gas and Water but dropped its plans to provide water utilities in 1842 changing its name simply to Louisville Gas LG amp E was originally formed by investors with the intention of providing gas fired street lighting which had been mandated in order to help prevent crime In 1890 LG amp E Louisville Gas at this point amended its charter to buy stock in electric companies and acquired Louisville Electric light In 1913 Louisville Gas Louisville Lighting and Kentucky Heating merged to form Louisville Gas amp Electric LG amp E 4 In 1979 the construction of Trimble Country electric generation station started 5 In 1990 LG amp E reorganized itself as a holding company LG amp E Energy Corporation In 1998 LG amp E Energy merged with the other major electric utility in Kentucky Kentucky Utilities In 2000 LG amp E Energy was bought by British utility company Powergen In 2002 Powergen was bought by the German company E ON In 2003 LG amp E Energy changed its name to E ON US Finally in 2010 E ON US was bought by PPL Corporation PPL changed the name of the company to LG amp E and KU Energy LLC 6 Since 2011 the company s bills are available to be paid at Walmart 7 Generation editThe current electric generating stations serving the region include two coal fired plants Trimble County Generating Station and Mill Creek Station one natural gas fuel oil combustion turbine one hydroelectric plant Ohio Falls Station two natural gas facilities Muldraugh and Magnolia Compressor Stations and one natural gas combined cycle facility Cane Run Station 8 Acquisition by PPL Corporation editPPL and E ON announced on April 28 2010 a definitive agreement under which PPL will acquire E ON US for 7 625 billion 9 The sale was closed on November 1 2010 10 Process for Calculating Customer Gas Billing editUnder its contract with the Kentucky Public Service Commission PSC LG amp E estimates two out of every three months of each customer s gas consumption This allows the publicly traded company to ensure it hits projected revenue estimates reported quarterly to its stockholders regardless of actual customer consumption Under its PSC contract the company is only required to attempt one actual manual read of each customer s gas meter per quarter and is only required to actually complete a manual read once per every six months Under the company s stated theory this means that although the customer has been billed based on estimates and anticipated revenue for 5 months the account billed will true up on the 6th month when a manual read is completed The subsequent quarter can then begin with several months of estimated reads that allow the company to report achievement of its projected revenue to stockholders Consumer complaints show that in actuality this practice wildly overestimates customer usage for the first 5 months of a billing period in able for the company to report to stockholders that projected revenues were achieved and for employee bonuses to be dispersed then for the correction for overbilling to occur in the first month of the subsequent billing cycle giving customers either just 1 out of 3 months with correct billing or just 1 out of 6 months with correct billing If the cumulative total of manual reads equals revenue less than projected to stockholders LG amp E is permitted to spread the difference across its customers accounts Consumer Reviews and Ratings editAs of March 2023 LG amp E receives a 1 6 star rating out of 5 on Google Reviews 11 with the majority of reviews mentioning poor customer service and significant unexplained increases in bills for services Similarly LG amp E has a cumulative rating of 1 0 stars out of 5 on Yelp 12 as of March 2023 and a BBB consumer rating of 1 5 stars out of 5 13 References edit LG amp E and KU Our company LG amp E and KU About LG amp E and KU LG amp E and KU lge ku com Retrieved 2022 07 29 Management Team LG amp E and KU LG amp E KU com Retrieved 2022 07 29 LG amp E and KU About LG amp E LG amp E and KU History of LG amp E Energy Corporation FundingUniverse www fundinguniverse com Retrieved 2021 05 11 LG amp E KU Corporate History Retrieved 18 May 2014 Shoppers Can Now Pay Utility Bills at Walmart Progressive Grocer Retrieved 2021 05 11 LG amp E Power Plant Information Archived from the original on 2011 07 10 Retrieved 2007 07 19 WAVE TV LG amp E KU Sold to PA Company PPL Completes Acquisition of Two Kentucky Utility Companies PPL Newsroom Google Reviews LG amp E and KU Energy publisher Yelp Louisville Gas amp Electric Company publisher Better Business Bureau External links editLG amp E and KU Energy Home Page Retrieved from https en wikipedia org w index php title Louisville Gas 26 Electric amp oldid 1176540850, wikipedia, wiki, book, books, library,
