ALLENTOWN, Pa., June 3, 2014 /PRNewswire/ -- Members of International Brotherhood of Electrical Workers Local 1600 have ratified a new three-year contract with Pennsylvania-based companies of PPL Corporation, the company announced Tuesday (6/3).
The agreement, which will run through May 21, 2017, includes wage increases of 2.5 percent in the first year, 2.5 percent in the second year, and 2.75 percent in the third year. It also provides competitive retirement savings and healthcare benefits.
Local 1600 represents about 3,000 workers for PPL Electric Utilities, power plants owned by PPL companies in Pennsylvania, and various PPL corporate service groups. PPL and Local 1600 reached a tentative agreement on May 10, which was then submitted to union members for a vote.
PPL Corporation (NYSE: PPL), with 2013 revenues of $12 billion, is one of the largest companies in the U.S. utility sector. The PPL family of companies delivers electricity and natural gas to more than 10 million customers in the United States and United Kingdom, owns more than 18,000 megawatts of generating capacity in the United States and sells energy in key U.S. markets. More information is available at www.pplweb.com.SOURCE PPL Corporation
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts