Duquesne Light Holdings, Inc. (DLH) is an energy services

holding company A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...

formed in 1989 to serve as the holding company for Duquesne Light Company and to engage in certain unregulated energy and related businesses. After a 2007 acquisition, DLH is a wholly owned subsidiary of parent company DQE Holdings LLC, with principal executive offices located in

Pittsburgh Pittsburgh ( ) is a city in Allegheny County, Pennsylvania, United States, and its county seat. It is the List of municipalities in Pennsylvania#Municipalities, second-most populous city in Pennsylvania (after Philadelphia) and the List of Un ...

, Pennsylvania. Through its chief subsidiary, Duquesne Light Company, the corporation provides energy to over 588,000 homes and businesses.

Historic incorporation

Duquesne Light was one of the dozens of companies founded by inventor

George Westinghouse George Westinghouse Jr. (October 6, 1846 – March 12, 1914) was a prolific American inventor, engineer, and entrepreneurial industrialist based in Pittsburgh, Pennsylvania. He is best known for his creation of the railway air brake and for bei ...

and for its first 75 years of operation (1870s-1940s) was a subsidiary of the holding company known as the "Philadelphia Company". Other such companies also founded by Westinghouse such as the Equitable Gas company and other "Equitable" energy/electronic companies were equal subsidiaries with DQE when it was a subsidiary of the 'Philadelphia Company'. In 1997, Duquesne and Allegheny Energy agreed to a $4.3 billion merger with headquarters remaining in

Hagerstown, Maryland Hagerstown is a city in Washington County, Maryland, United States, and its county seat. The population was 43,527 at the 2020 United States census, 2020 census. Hagerstown ranks as Maryland's List of municipalities in Maryland, sixth-most popu ...

. However DQE backed out of the deal by 1998. In May 2007, Duquesne was acquired by a consortium led by affiliates of the

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

n-based

Macquarie Group Macquarie Group Limited (), more commonly known as Macquarie Bank, is an Australian multinational investment banking and financial services group headquartered in Sydney and listed on the ASX (). Macquarie's investment banking division is Au ...

Limited. The consortium consists of several institutional investors which own all of the common equity of parent company, DQE Holdings, LLC. This classifies it as an

investor-owned utility Investor-owned utilities (IOUs) are private enterprises acting as public utilities. References Public utilities {{business-stub ...

. In 2010, GIC Private Limited acquired a 29% stake from original investor DUET Group. In 2018, Duquesne Light began offering $3,000 rebates for the purchase of

electric vehicle An electric vehicle (EV) is a motor vehicle whose propulsion is powered fully or mostly by electricity. EVs encompass a wide range of transportation modes, including road vehicle, road and rail vehicles, electric boats and Submersible, submer ...

s in an effort to promote adoption of electric vehicles and increase the number on the road. The company partnered with

Nissan North America Nissan North America, Inc., doing business as Nissan USA, is the North American headquarters, and a wholly owned subsidiary of Nissan Motor Corporation of Japan. The company manufactures and sells Nissan and Infiniti brand cars, sport utility ve ...

to execute the program. People in Pennsylvania who purchase electric vehicles, in addition to the rebate, get up to $7,500 in federal

tax credit A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state. It may also be a credit granted in recognition of taxes already paid or a form of state "dis ...

s and a $1,750 rebate from the state. In 2019, the company named Steve Malnight as CEO, replacing Rich Riazzi, who had held the post since 2010.

References

External links

Official Web site
{{DEFAULTSORT:Dqe Electric power companies of the United States Companies formerly listed on the New York Stock Exchange Holding companies established in 1912 1912 establishments in Pennsylvania Energy companies established in 1912