Press Release

PUC Approves Transfer of Stock for Trigen-Philadelphia Energy Corp.

Published on 1/10/2008

Filed under: Electric

HARRISBURG – The Pennsylvania Public Utility Commission (PUC) today approved the transfer of stock for Trigen-Philadelphia Energy Corp. to Veolia Energy North American Holdings Inc.

The Commission voted 4-0 to approve the transaction, determining that the joint applicants met their burden of proof that the merger is in the public interest.

As part of the deal, Veolia plans to:

• Maintain the company’s Philadelphia headquarters and its existing funding level for community projects;
• Continue planned capital expenditures;
• Maintain the workforce numbers and is committed to maintaining employee numbers at the current levels for one year;
• Preserve the retirement, health care, welfare and life insurance benefit plans of existing employees for one year; and
• Maintain current rates.

Trigen-Philadelphia, which is currently owned by Thermal North America Inc. serves more than 300 commercial, government, institutional and hospitality customers in the central business district of Philadelphia. Veolia Energy provides energy services in 38 countries.

The Pennsylvania Public Utility Commission balances the needs of consumers and utilities to ensure safe and reliable utility service at reasonable rates; protect the public interest; educate consumers to make independent and informed utility choices; further economic development; and foster new technologies and competitive markets in an environmentally sound manner.

For recent news releases, audio of select Commission proceedings or more information about the PUC, visit our Web site at www.puc.state.pa.us.

# # #

Docket No. A-130375F0006

Contact:

• Press Secretary
  717-787-5722