This excerpt taken from the PPL 8-K filed Mar 7, 2008.
Meter Reading. On and prior to the Closing Date, Seller shall cause the Companies to read the customer meters in their normal cycle and in due course render the related bills to its customers served by the Companies. Seller shall also cause the Companies to read each daily read transportation customer meter (collectively, “Large Volume Meters”) on the day immediately preceding the Closing Date. Seller shall provide Buyer with the Companies’ last meter reading from each of the Large Volume Meters made on the day immediately preceding the Closing Date as soon as practicable after the Closing Date. After the Closing Date, Buyer shall read the customer meters for their first time, in the normal cycle, and in due course render bills for service during the period between the Companies’ last reading in the normal cycle and Buyer’s first reading in the normal cycle to the customers. Buyer shall determine the volume of gas sold by the Companies prior to the Closing Date through Large Volume Meters by the Companies’ meter readings on the day immediately preceding the Closing Date. Buyer shall determine by allocation the volumes of gas sold by the Companies’ through all meters other than Large Volume Meters, prior to the Closing Date, and the gas sold by Buyer, on and after the Closing Date and prior to its first meter reading through meters without charts. Such allocation shall be consistent with the Companies’ past practices for unbilled revenues. Once such determinations have been made by Buyer, the estimated amounts of accounts receivable and earned but unbilled revenue and any other related payables or liabilities shall be adjusted based upon such determinations for purposes of the determination of the Actual Aggregate Net Working Capital pursuant to Section 2.2(b).