PPL Corp. and International Brotherhood of Electrical Workers Local 1600 came to a tentative agreement Saturday on a new three-year labor contract, a day before the previous one was set to expire.
The deal calls for 7.75 percent wage increases over the life of the contract and still must be ratified by the union. Until it is ratified, the deal allows for the extension of the old contract to keep business moving, according to a news release from PPL.
The agreement also calls for a new retirement savings program for future employees, changes in health care benefit options that reflect the competitive market and work rule changes that provide for increased workforce flexibility and versatility, according to the release.
A call to PPL seeking more detail was not returned this morning.
IBEW represents about 3,000 workers at PPL Electric Utilities, power plants owned by PPL companies in Pennsylvania, and various PPL corporate services groups, according to the release.
PPL reported 2013 revenues of $12 billion. 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.