DPL Begins Construction On Phases Three and Four Generation Expansion; Regional Merchant Generation Strategy on Track.Business Editors DAYTON, Ohio--(BUSINESS WIRE)--Sept. 29, 2000--(NYSE NYSE See: New York Stock Exchange :DPL (Digital PowerLine) An earlier technology for transmitting a 1 Mbps data signal over electric power lines from Nortel Networks. It was developed in the late 1990s, but later abandoned due to implementation difficulties. See broadband over power lines. ) DPL Inc. today announced that it has begun construction on Phases Three and Four of its peaking generation expansion strategy. This project consists of four 80-megawatt (MW) units totaling 320 MW. The combustion turbine units will be located in Pickaway County, Ohio Pickaway County is a county located in the state of Ohio, United States. As of the 2000 census, the population was 52,727. Its county seat is Circleville6 and its name is an Native American word of disputed meaning.[2] Geography According to the U.S. , and will be online for the 2001 summer peaking season. All necessary state and local approvals have been received. "Our management team did an excellent job in working quickly through the siting process," said Allen Hill Allen Hill (born 14 November 1843 in Huddersfield, Yorkshire; died 28 August 1910 in Leyland, Lancashire) played in the first-ever cricket Test, taking the first wicket. Hill also went on to umpire in the Test match played at Lord's in 1890. , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DPL Inc. "With construction plans on track, we look forward to a solid return on this investment in 2001." The project is being developed and managed by DPL Energy, an unregulated subsidiary of DPL focused on merchant generation initiatives. DPL Energy successfully completed the Phase Two Greenville, Ohio expansion in June of this year. The 225 MW output from these units provided immediate increases to revenues and earnings. DPL's peaking generation expansion plays a key role in the Company's overall growth strategy. In total, Phases One through Four increase DPL's generation capacity by approximately 800 MW to 3,815 MW and represent an investment of $270 million. DPL Inc. is a diversified energy company supplying energy services to customers in the Midwest. DPL's principal subsidiary is The Dayton Power and Light Company (DP&L). With annual sales of more than $1.2 billion, DP&L ranks among the nation's top 500 service companies. The Company sells electricity to 500,000 residential, commercial, industrial and governmental customers in a 6,000 square-mile area of West Central Ohio. For the last ten years, DP&L has ranked among the top ten energy companies in generation efficiency and productivity. Further information can be found at www.dplinc.com. This press release may contain certain forward-looking statements regarding plans and expectations for the future. Investors are cautioned that actual outcomes may vary materially from those projected due to various factors beyond DPL's control. Such matters are described in the Company's 1999 Annual Report and Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Form 10-Q Form 10-Q See 10-Q. for the quarter ending June 30, 2000. |
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