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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.
Nordson Corporation (NASDAQ: NDSN) has appointed Jennifer L. McDonough as Executive Vice President, General Counsel, and Secretary, effective November 1, 2021. McDonough, previously with PPL Corporation (NYSE: PPL), brings over 20 years of legal experience, focusing on corporate governance, compliance, and mergers. CEO Sundaram Nagarajan expressed confidence in her ability to support Nordson’s strategic development. With a commitment to the NBS Next growth framework and acquisitions, McDonough aims to enhance the company's legal strategy.
PPL Corporation (NYSE: PPL) announced the appointment of Heather B. Redman to its Board of Directors, effective today. Redman, co-founder of Flying Fish Partners, brings extensive experience in disruptive technologies and energy development. She will enhance PPL's focus on innovation and support its transition to clean energy. PPL's board now includes 10 directors, nine of whom are independent. Redman's background includes leadership roles in clean energy projects and capital raising, making her a valuable asset as PPL aims to strengthen its energy networks.
PPL Corporation (NYSE:PPL) announced its participation in the Electric Highway Coalition, a group of 17 U.S. utilities aimed at enhancing electric vehicle (EV) charging infrastructure across major highways. Through this collaboration, PPL's subsidiaries, including Louisville Gas and Electric and PPL Electric Utilities, will work towards deploying fast charging stations for long-distance EV travel. The company aims for net-zero emissions by 2050 and has set interim targets for reducing CO2 emissions. This initiative aligns with the industry's commitment to support EV infrastructure and addresses the projected growth of EVs on U.S. roads.
PPL Corporation has acquired an ownership stake in the SOO Green HVDC Link project, an underground transmission line designed to transport 2,100 MW of renewable energy from the upper Midwest to eastern markets. This $2.5 billion initiative, set to begin construction in 2023, utilizes advanced technology to enhance grid reliability without costs to ratepayers. The collaboration aims to support the development of a national clean energy grid by addressing barriers to interregional transmission. PPL's expertise is expected to drive the project's success in meeting U.S. renewable energy goals.
PPL Corporation (NYSE: PPL) has received unanimous approval from the Federal Energy Regulatory Commission (FERC) to acquire The Narragansett Electric Company from National Grid. This marks the fourth of five necessary regulatory approvals for the transaction, with the final approval pending from the Rhode Island Division of Public Utilities and Carriers. PPL anticipates completing the acquisition by March 2022, which is expected to enhance service delivery and support Rhode Island's decarbonization goals.
Landis+Gyr Technology has inked a five-year contract with Louisville Gas and Electric and Kentucky Utilities to implement advanced metering and smart grid infrastructure. This deal includes 930,000 electricity meters and 300,000 gas modules, along with necessary network equipment and software. The technology aims to enhance service reliability and enable customers to better manage energy use. The project, approved by the Kentucky Public Service Commission, highlights Landis+Gyr's role in modernizing Kentucky's energy system, offering a comprehensive IoT network for energy distribution.
PPL Electric Utilities has announced an agreement that, pending approval by the Federal Energy Regulatory Commission, aims to lower transmission rates and customer bills. The base return on equity will decrease from 11.18% to 9.9%, resulting in savings of approximately $1.54 for residential customers and $2.15 for business customers each month over a 12-month period, effective Dec. 1, 2021. PPL Electric serves over 1.4 million customers in Pennsylvania and is recognized for its reliability and customer service.
PPL Corporation (NYSE: PPL) announced the retirement of Paul W. Thompson, CEO of LG&E and KU Energy, effective January 1, 2022. John R. Crockett III will succeed him on October 1, 2021, transitioning from his role as general counsel. Both companies provide electricity and natural gas to over 1.3 million customers in Kentucky and Virginia. The transition aims to maintain high customer satisfaction and grid resilience.
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