COLUMBUS, OHIO – Yesterday the Public Utilities Commission of Ohio issued an order authorizing the change in control of AES Ohio.
AES Ohio will retain its headquarters in Dayton, retain its senior management and its status as a regulated electric distribution utility. AES Ohio will not change any rates, terms and conditions of service, employees, management practices or operations because of the merger.
Upon closing of the transaction, AES Ohio will be jointly owned by Global Instructure Partners (a part of Blackrock, Inc.), EQT AB, Qatar Investment Authority, and California Public Employees’ Retirement System. Astrid Holdings will retain its current 30% share of AES Ohio.
To facilitate sound decision-making regarding issues related to data centers, the Commission orders Board of Directors members with pecuniary interests in data centers to recuse themselves from issues related to data centers.
AES Ohio may not include any costs related to executing the merger transaction in customer rates and must update the PUCO on any changes in systems, policy, or procedures for three years.
The PUCO is charged with reviewing applications for change of control of an electric distribution utility. The PUCO has no jurisdiction over control of holding companies or corporate parent companies.
