We're digging deeper on this story
The experienced journalists of the Dayton Daily News are working hard to bring you in-depth coverage of this story, which affects nearly everyone in the Dayton region.
Some topics we're working on for Thursday's newspaper:
- Our journalists are digging into how and when the merger will affect customers — whether rates will change or new technologies will be introduced.
- Our reporters are looking into AES-owned Indianapolis Power and LIght Co., to see how well that company performs for customers after about 10 years of AES ownership.
- The DPL Foundation is a major source of money for nonprofits. We're working to find out how this merger will affect charitable giving in the community.
- We're talking with investors and analysts to see how the merger will affect individual and institutional investors in DPL stock.
The Dayton Daily News is the only news organization in the Dayton area that can bring you such complete, in-depth and dependable coverage of major stories that affect your daily life.
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A brief comparison of DP&L and AES, the company that has agreed to buy the Dayton utility for $4.7 billion.
Dayton Power and Light by the numbers:
- 1,494 full-time employees
- 500,000 customers in 24 counties
- 6,000 square-mile coverage area
- 10 power generating plants
- 3,800 megawatts total generating capacity
- 3,270 megawatts was the record peak demand in August 2007
- $1,883 million annual revenue in 2010
- $3,813 million total assets in 2010
- $290 million net income in 2010
Website: www.dpandl.com
AES Corporation:
- 28 countries and five continents served
- 29,000 employees
- 14 utility companies with more than 11.5 million customers in seven countries.
- $17 billion annual revenue in 2010. Revenues are nearly equally split between utility companies and power generation operations.
- $41 billion in total assets
Website: www.aes.com
A Brief History of DP&L
- 1883: Electric service first comes to Dayton with a power plant and electric street lighting operated by the Dayton Electric Light Company.
- 1911: The Hills and Dales Railway Company purchases two competing Dayton utilities, bringing all of Dayton's electric service under one roof. It is renamed the Dayton Power and Light Company.
- 1925: DP&L becomes a full-service gas, electric, steam and water utility through its acquisition of the Dayton Gas Company, which complements its 1914 purchase of the Wilmington Water Company.
- 1946: Ground is broken on the O.H. Hutchings Station in Miamisburg.
- 1952: DP&L debuts the nation's first fluorescent street lighting in Oakwood.
- 1960s: The J.M. Stuart Plant - at the time of its completion the largest coal-fired power plant in the world - uses new, super–critical, high-pressure turbines.
- 1971: DP&L installs the first coal-dust collection equipment in the nation, greatly reducing emissions from its power plants.
- 2000: DP&L sells natural gas unit to Vectren Corp. of Indiana for $425 million.
- 2001: DP&L reportedly looking for a purchaser. Company shortly thereafter takes itself off market.
- 2003: DPL Inc. agrees to pay $145.5 million to settle 11 state and federal shareholder lawsuits related to its $1 billion investment portfolio and Ex-Chairman Peter H. Forster. The lawsuits allege federal securities fraud, self-dealing and breach of duty, but under the agreement, DPL directors and executives admit no wrongdoing. The settlement, after five weeks of negotiations, which began just as one of the lawsuits was set to go to trial. Plaintiff attorney Stanley Chesley said evidence would show that Forster and other top executives engineered the sale of DPL's gas business to Vectren and handed significant control over DPL to a New York investment firm to increase his personal wealth.
- 2006: DP&L sells a natural gas peaking plant for $102 million to Columbus Southern Power Co.
- 2010: The 1.1 Megawatt Yankee Solar Array in Washington Twp. – at the time of its completion the largest solar power facility in Southwestern Ohio – annually generates the equivalent to what's needed to power 150 homes in a year.
- 2011: Sold to global power giant AES.
Source: DP&L, Dayton Daily News
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