Calling it an example of thoughtful and comprehensive public policy, Pennsylvania Power & Light Co.'s chairman today (11/13) endorsed a legislative proposal that calls for the restructuring of the state's electric utility industry.
"The proposal represents a shared vision of a new electricity business in Pennsylvania," said William F. Hecht, PP&L's chairman, president and chief executive officer. "This landmark proposal provides us with an excellent framework and an aggressive timetable for providing the commonwealth's consumers and businesses with more choices in their electricity purchases. It also places Pennsylvania at the forefront of this important public policy issue."
A bill outlining the restructuring plan is expected to be considered by the General Assembly soon. The bill, Hecht said, because of the way it was crafted, is representative of the needs of all those who have a stake in the state's electricity business.
"All major interests were represented as this legislative proposal was being written," said Hecht. "The result is a proposal that will protect the interests of all those involved as we move toward a more competitive electricity marketplace."
Hecht said PP&L is fully supportive of the proposed legislation and urges prompt passage.
"This legislation, if enacted swiftly, would provide Pennsylvania with a significant economic development advantage in this region of the country. A competitive electricity marketplace sends a strong message that Pennsylvania supports economic development," said Hecht.
The legislative proposal was drafted by a working group under the direction of Public Utility Commission Chairman John Quain. Hecht said Quain's efforts to lead the working group were an essential part of the process.
"This proposal is the culmination of a great deal of discussion in a number of different forums. There have been hearings before the PUC as well as in the state House and state Senate, a report issued by the PUC and bills introduced in the General Assembly. The working group, under the leadership of chairman Quain, did an excellent job in building on this substantial work to forge a consensus," said Hecht.
PP&L, a subsidiary of PP&L Resources, Inc., provides electric service to 1.2 million customers in 29 counties of central and eastern Pennsylvania. Other PP&L Resources subsidiaries include Power Markets Development, a worldwide power company, and Spectrum Energy Services, which offers a variety of energy-related services.