DPL Inc. (NYSE: DPL) operates as a holding company for regional electric utilities, primarily through its key subsidiaries including Dayton Power & Light Company (DP&L), now known as AES Ohio; DPL Energy Resources, Inc. (DPLER); DPL Energy, LLC (DPLE); and Miami Valley Insurance Company (MVIC). The company provides electric generation, transmission, distribution, and retail supply services; wholesale electricity sales from peaking generation facilities; competitive retail electric contracts to residential, commercial, industrial, and governmental customers in West Central Ohio; and captive insurance coverage for its operations. Headquartered in Dayton, Ohio, DPL serves over 500,000 customers in Ohio and operates within the electric utilities sector.
In recent developments, DPL, as an indirect wholly-owned subsidiary of The AES Corporation since its 2011 acquisition, completed the sale of approximately a 30% equity interest in AES Ohio to a subsidiary of Caisse de dépôt et placement du Québec (CDPQ) on April 4, 2025, supporting over $1.5 billion in planned transmission infrastructure investments from 2024-2027 to meet growing demand including data centers. On November 5, 2025, the Public Utilities Commission of Ohio approved a rate review for AES Ohio, establishing new base rates for electric distribution service effective November 2025 with a revenue requirement of $483 million and a 9.999% return on equity, incorporating system upgrades from 2020-2024. These changes enhance operational reliability, fund capital expenditures, and align with AES's broader $20-22 billion investment strategy through 2027.