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PPL Corporation (NYSE: PPL) is a renowned global energy company headquartered in Allentown, Pennsylvania. PPL serves over 10.5 million customers across Pennsylvania, Kentucky, and the United Kingdom with its high-performing regulated utilities, including Western Power Distribution, Louisville Gas and Electric, Kentucky Utilities, and PPL Electric Utilities. These subsidiaries are consistently recognized for delivering outstanding service in both the U.S. and the U.K.
PPL's operations span across electricity generation, transmission, and distribution, as well as natural gas services. The company is a positive force in its communities, supporting job creation programs and donating millions to charitable organizations to enhance the quality of life. Additionally, PPL's workforce of over 13,000 employees actively volunteers their time and energy to assist others.
Recent achievements include a significant $72 million award from the U.S. Department of Energy to fund a pioneering carbon dioxide (CO2) capture project in collaboration with the University of Kentucky and other partners. This project aims to capture up to 90,000 metric tons of CO2 annually, equivalent to the emissions of 20,000 gasoline-powered cars, marking a major step towards PPL's goal of achieving net-zero carbon emissions by 2050.
PPL continues to innovate and invest in infrastructure, recently committing to $14.3 billion in planned investments through 2027 to modernize the grid, enhance reliability, and support renewable energy integration. The company also maintains a strong financial position, with reported 2023 earnings of $740 million and an ongoing commitment to dividend growth.
PPL's subsidiaries are involved in various strategic projects, such as deploying advanced smart metering technology in Rhode Island through a partnership with Landis+Gyr. This initiative will support the state's clean energy goals and grid modernization efforts.
Overall, PPL Corporation remains dedicated to providing safe, reliable, and affordable energy while advancing sustainable energy solutions and fostering community development.
PPL announced its annual employee-led charitable giving campaign raised nearly $9 million in contributions from employees, retirees, and matching funds from PPL's affiliated foundations. The record-setting campaign will support approximately 500 local nonprofit organizations across Pennsylvania, Rhode Island, Kentucky, and Virginia through partnerships with United Way.
The fundraising effort includes a special allocation of $50,000 to the American Red Cross Hurricane Relief Fund, which will be matched by the PPL Foundation for a total contribution of $100,000. The campaign involved participation from employees and retirees across PPL and its subsidiaries, including PPL Electric Utilities, Rhode Island Energy, Louisville Gas and Electric Company, and Kentucky Utilities Company. Additionally, more than 700 employees volunteered during PPL's companywide Day of Caring events in September 2024.
PPL reported 2024 earnings with GAAP earnings of $1.20 per share ($888 million) and ongoing operations earnings of $1.69 per share ($1.25 billion). The company announced a 2025 earnings forecast of $1.75-$1.87 per share and extended its 6-8% annual EPS and dividend growth targets through 2028.
Key highlights include: completion of $3.1 billion in capital investments, achievement of targeted O&M savings of $120-$130 million in 2024, and an increased capital plan of $20 billion for 2025-2028. The company expects 9.8% average annual rate base growth through 2028 and projects equity needs of $2.5 billion to support growth.
PPL also announced a 6% increase in quarterly dividend from $0.2575 to $0.2725 per share, payable April 1, 2025.
PPL (NYSE: PPL) has announced its 2025 Annual Meeting of Shareowners will be conducted in a virtual format. The meeting will be held online on Friday, May 16, 2025, at 9 a.m. Eastern time. Shareholders who are recorded as owners by March 4, 2025, will be eligible to participate and vote in the virtual meeting.
The company will provide detailed instructions for joining the virtual meeting in the upcoming proxy materials that will be distributed to eligible shareowners.
PPL has announced it will release its Q4 and full-year 2024 financial results on February 13. The company will host a conference call at 11 a.m. Eastern Time, featuring CEO Vincent Sorgi and other executives who will discuss quarterly results and business outlook.
The presentation will include both audio and slides, accessible via webcast at www.pplweb.com/investors. Participants can join through the website or by phone using the numbers 1-844-512-2926 (domestic) or 1-412-317-6300 (international), with Elite Entry number 6752826. A replay of the webcast and slides will remain available on the company's investor website for 90 days after the event.
Louisville Gas and Electric Company (LG&E), a PPL subsidiary, has announced its first hyperscale data center electric customer through a joint venture between PowerHouse Data Centers and Poe Companies. The project will develop Kentucky's first 400-megawatt data center campus in Louisville, with the initial 130 megawatts becoming available in October 2026.
The development secured an initial power capacity of 335 megawatts, expandable to 402 megawatts, supported by a new LG&E switch station to be completed in September 2026. The project benefits from a 50-year tax exemption program approved by the Kentucky Legislature in 2024 for data centers in Louisville and Jefferson County. Construction will begin in 2025, with the first building operational by Q4 2026.
The campus will utilize Louisville Water Company's infrastructure and the Ohio River's water supply, averaging 75 billion gallons daily, for cooling and operational efficiency.
PPL (NYSE: PPL) announced organizational changes following the retirement of EVP and COO Francis X. Sullivan, effective April 4. The company will eliminate the Chief Operating Officer role, with Sullivan's responsibilities being split between two executives: David J. Bonenberger, who will become EVP and Chief Operating Officer-Utilities, and Lonnie Bellar, who will become EVP of Engineering, Construction and Generation. Both will report directly to CEO Vincent Sorgi.
Bonenberger, who joined PPL Electric Utilities in 1984, currently oversees utility operations and customer service across PPL's utilities in Pennsylvania, Kentucky, Rhode Island and Virginia. Bellar, who joined Kentucky Utilities in 1987, manages enterprise-wide engineering, construction services, energy supply, and environmental compliance. With this reorganization, Bellar will also assume responsibility for PPL's Kentucky generation fleet.
PPL (NYSE: PPL) has announced its quarterly dividend payment schedule. The company declared a quarterly common stock dividend of $0.2575 per share on November 22, 2024. The dividend will be paid on January 2, 2025, to shareholders who are on record as of December 10, 2024.
PPL reported Q3 2024 earnings with GAAP earnings of $0.29 per share, compared to $0.31 in Q3 2023. Ongoing earnings were $0.42 per share versus $0.43 last year. The company narrowed its 2024 ongoing earnings forecast to $1.67-$1.73 per share, raising the midpoint to $1.70. PPL reaffirmed its projected 6-8% annual earnings and dividend growth through 2027. The company plans to invest over $3 billion in infrastructure improvements and aims to achieve O&M savings of $175 million by 2026, with $120-130 million planned by end of 2024.
LG&E and KU have filed their Integrated Resource Plan (IRP) with the Kentucky Public Service Commission, forecasting significant load growth due to data centers and economic development. Despite energy efficiency measures, the utilities expect system load to increase by 30% to 45% by 2032 compared to 2024. To meet this demand, they recommend building two new natural gas combined-cycle generation units, installing 900 megawatts of battery storage, adding 500 megawatts of solar, and implementing environmental compliance technologies at existing plants. The plan also considers retiring some units by 2035 and presents an enhanced solar plan if requested by customers or if solar prices become more competitive.
PPL (NYSE:PPL) has announced it will release its consolidated third-quarter 2024 earnings results on Friday, Nov. 1. The company will host a conference call and webcast for financial analysts at 11 a.m. Eastern Time, where Vincent Sorgi, PPL president and CEO, along with other executives, will discuss the results and general business outlook.
The event will be accessible via webcast at www.pplweb.com/investors, with slides accompanying the presentation. Interested parties can also join by phone using the provided numbers and Elite Entry number 8737672. A replay will be available for 90 days after the call.
PPL , based in Allentown, Pennsylvania, is a leading U.S. energy company serving over 3.5 million customers with electricity and natural gas. The company focuses on safe, reliable, and affordable energy provision while addressing energy challenges through smarter grids and sustainable solutions.
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