HENDERSON, KY (WEHT) – The Henderson City Commission decided to table the vote on whether to sell Henderson Municipal Power and Light (HMP&L) to Big Rivers. Henderson Mayor Steve Austin said additional details from last week’s study were “questionable” and needed to be verified.
On Monday, the Henderson Utility Commission voted unanimously to send a letter of negative recommendation to the City Commission regarding the Big Rivers Electric Corp. offer to purchase the city’s utility.
In January, Henderson-based Big Rivers Electric Corp. announced plans to move to Owensboro which will cost the city millions of dollars and nearly 120 jobs. Big Rivers had previously tried two times to purchase HMP&L.
After the announcement that Big Rivers would be moving their headquarters to Owensboro, the company offered to buy HMP&L a third time. So Henderson officials entered into an agreement to assess the value of HMP&L and the impact on the city if the utility company was sold. PFM, the company that performed the analysis, said upfront the city would receive a net gain of $1.5 million, but over time according to analysis, there would be a net loss.