PPL Corporation - PPL STOCK NEWS

Louisville Gas and Electric Company and Kentucky Utilities Company have reached an agreement regarding their rate review with the Kentucky Public Service Commission. The agreement reduces the initially requested rate increase and introduces an Economic Relief bill credit to lessen the impact for customers over the first year. It includes no change to the basic residential service charge, a commitment to maintain base rates for four years, and enhanced support for low-income customers. If approved, new rates would take effect on July 1, 2021.

PPL Electric Utilities urges homeowners to call 811 before any digging projects to prevent accidents and damage to underground utilities. Pennsylvania law mandates this call at least three business days in advance of excavation, providing a safety measure for both homeowners and utility crews. A survey revealed that while nearly 40% of homeowners plan to dig this year, almost half are unaware of the necessity to call 811. In 2019, there were 532,000 excavation-related damages costing approximately $30 million. PPL Electric Utilities serves over 1.4 million customers in Pennsylvania.

PPL Corporation announced significant leadership changes on April 5, 2021. Gregory N. Dudkin has been promoted to executive vice president and chief operating officer, while Stephanie R. Raymond will succeed him as president of PPL Electric Utilities effective April 12, 2021. Dudkin has spearheaded improvements in customer satisfaction and operational efficiency, while Raymond has overseen successful smart grid enhancements. These transitions aim to strengthen PPL's position as a U.S.-focused energy company, especially amid ongoing acquisitions to expand their operations in Rhode Island.

PPL Corporation (NYSE: PPL) announced the appointment of Wendy E. Stark as senior vice president, general counsel, and corporate secretary, effective April 12, 2021. She replaces Joanne Raphael, who will transition to executive vice president and chief legal officer until her retirement on June 1, 2021. Stark brings over 20 years of legal experience, primarily in the public utility sector, previously serving at Pepco Holdings. PPL continues to focus on creating long-term stakeholder value and enhancing customer service as it enters a new century of operations.

PPL Corporation (NYSE: PPL) has finalized agreements to divest its U.K. utility business, Western Power Distribution (WPD), to National Grid plc for £7.8 billion. Concurrently, PPL will acquire National Grid's Rhode Island utility, The Narragansett Electric Company, for $3.8 billion. This move aims to focus PPL on U.S. markets, enhancing its balance sheet and operational efficiencies. The transactions are expected to close within four months for WPD and within a year for Narragansett Electric, positioning PPL for sustainable growth and stable dividends.

PPL Corporation reported 2020 earnings of $1.47 billion ($1.91/share), down from $1.75 billion ($2.37/share) in 2019. Adjusted earnings from ongoing operations were $1.85 billion ($2.40/share), slightly below 2019's $1.81 billion ($2.45/share). The pandemic impacted sales, particularly in the U.K. and Kentucky, costing approximately $0.12/share. PPL aims to complete the sale of its U.K. utility by mid-2021, enhancing its U.S. focus. The company continues to pay dividends, maintaining a record of 301 consecutive quarterly payments. Fourth-quarter earnings in 2020 were $290 million ($0.38/share), compared to $364 million ($0.48/share) in 2019.

PPL Corporation (NYSE: PPL) will announce its fourth-quarter and year-end 2020 earnings on February 18. The company's president and CEO, Vincent Sorgi, alongside the executive team, will present the results during a conference call at 11 a.m. Eastern Time. The call will be available via live webcast and telephone. PPL serves 10 million customers across the U.S. and the U.K. and is committed to delivering exceptional service and value to shareholders.