Tuesday, December 9, 2008

PPL drops $440M expansion at Holtwood, blames economy

PPL said today it has dropped plans to expand its Holtwood hydroelectric plant, citing the venture's soaring estimated cost and other factors. The project price tag has grown to $440 million, compared to initial estimates of $250 million when the project was unveiled in March 2006. "As we evaluated this project in light of current economic conditions and projections of future energy prices, we reached the conclusion that it is no longer economically justifiable," said PPL's William H. Spence in a prepared statement.

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