The home of the new Philadelphia Union MLS team starting play
in 2011 this spring will be named for Pennsylvania Power and Light, in a deal worth a reported $20 million over 10 years. If you’re wondering why an electric utility needs to buy a giant billboard, it probably has something to do with the fact that Pennsylvania just deregulated its electricity markets starting January 1. Now, on top of 30% rate hikes, PPL customers get to help foot the bill for their electricity company’s soccer-stadium ad campaign to convince people that name recognition is more important than those 30% rate hikes.
Of course, the Pennsylvania legislators who voted for electricity deregulation couldn’t have seen this coming, because it’s not like anything like this has ever happened before.