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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.
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.
PPL has finalized an agreement with the U.S. Department of Energy's Office of Clean Energy Demonstrations for an award of up to $72 million. This funding will support a groundbreaking carbon dioxide capture research and development project at PPL's natural gas combined-cycle generation facility in Louisville, Kentucky. The project, developed in partnership with the University of Kentucky, represents a total investment of over $100 million.
The first tranche of $4.9 million has been awarded to begin Phase 1 activities. This initiative aligns with PPL's strategy to enable new technologies that accelerate the transition to a clean energy future and achieve net-zero carbon emissions by 2050. PPL believes that reliable, dispatchable natural gas units will be essential in ensuring sufficient electricity supply while supporting the transition to renewables.
PPL (NYSE: PPL) has announced a quarterly common stock dividend of $0.2575 per share. The dividend was declared on August 23, 2024, and will be payable on October 1, 2024. Shareholders of record as of September 10, 2024, will be eligible to receive this dividend. This announcement demonstrates PPL's commitment to providing regular returns to its shareholders, maintaining its dividend policy despite current market conditions.
PPL (NYSE: PPL) reported second-quarter 2024 earnings of $0.26 per share (GAAP) and $0.38 per share from ongoing operations. The company reaffirmed its 2024 ongoing earnings forecast range of $1.63 to $1.75 per share, with a midpoint of $1.69 per share. PPL also reaffirmed its projection of 6% to 8% annual earnings and dividend growth through at least 2027. The company's performance was driven by higher sales volumes, increased transmission revenue, and lower operating costs across its regulated segments in Kentucky, Pennsylvania, and Rhode Island.
PPL (NYSE:PPL) has announced it will release its consolidated second-quarter 2024 earnings results on Friday, August 2. The company will host a conference call and webcast for financial analysts at 11 a.m. Eastern Time, where Vincent Sorgi, PPL's president and CEO, along with other executives, will discuss the results and general business outlook.
The webcast will be accessible at www.pplweb.com/investors, with a replay available for 90 days. Interested parties can also join via telephone. PPL, based in Allentown, Pennsylvania, is a leading U.S. energy company serving over 3.5 million customers, focusing on safe, reliable, and affordable electricity and natural gas provision.
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