City of Henderson enters into agreement to determine HMP&L value

Local

HENDERSON, Ky. (WEHT)– The City of Henderson has selected and entered into an agreement with a third-party firm to assist in the due diligence process and value the worth of Henderson Municipal Power & Light, city officials announced Tuesday.

The agreement with PFM Financial Advisors LLC has been made in response to an offer received from Big Rivers Electric Cooperative to purchase the assets of HMPL. The firm headquarters is located in Charlotte, N.C. PFM will assist in the evaluation and consideration of the BREC offer.

The services of the valuation firm will be paid for by the City of Henderson. Though the agreement will be in place for six months through Sept. 15, the work requested in the agreement is expected to be completed within two months.

(This story was originally published on March 23, 2021)

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