Supreme Court To Hear Energy-Company Tax Case

PPL, Entergy and AEP seek tax credits for payments made to U.K.

The U.S. Supreme Court agreed to decide whether three energy companies are entitled to more than $500 million in tax credits for payments their subsidiaries made to the U.K. government during the 1990s.

The justices today said they will hear an appeal from PPL Corp., which took a $39 million charge after a federal appeals court ruled against the company. Entergy Corp. is claiming a $234 million credit in a similar legal fight, winning a ruling from a different appeals court.

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