The Public Utility Commission today approved the acquistion by the P. P. and L. Company of Allentown of all the outstanding preferred and common stock of the Mauch Chunk Heat, Power, and Light Company; the Renova Edison Light, Heat and Power Company, and the Renova Heating Company. The commission said the Mauch Chunk and Edison stock were acquired by the P. P. and L as a preliminary step toward acquisition of the property and customers of those companies.