An Important Milestone is Reached in The Dayton Power and Light Distribution Rate Review

March 13, 2018

DAYTON, Ohio - March 13, 2018 - The Dayton Power and Light Company (DP&L), a subsidiary of The AES Corporation (NYSE: AES), announces today the Public Utilities Commission of Ohio (PUCO) staff issued its report and recommendation regarding the DP&L Distribution Rate application. DP&L initiated the rate review in late 2015. The staff report and recommendation is the next procedural step in the regulated rate review process and initiates a formal schedule, including a local public hearing.

"DP&L's base rates for maintaining wires and poles have not changed since 1991 despite continued investments to our distribution system. Our customers have benefited from stable, low-cost base distribution rates. As this case moves forward, DP&L's rates have been and are expected to continue to be the lowest in Ohio," said spokesperson Mary Ann Kabel.

With the PUCO staff report issued, DP&L looks forward to moving ahead with the rate review, and working with the parties to achieve a favorable outcome which would allow DP&L to continue to provide its customers with low-cost, safe and reliable distribution service. We are currently reviewing the report that was released today. The PUCO staff's report reviews current operating expenses as well as an audit of assets and investments since the last distribution rate case in 1991. DP&L remains committed to its original application, which addresses a fair proposal while balancing the needs of the customer and the Company, and expects to work cooperatively with the parties involved to resolve any issues.