PPL - PPL STOCK NEWS

PPL Capital Funding, a subsidiary of PPL Corporation, announced that after June 30, 2023, CME Term SOFR will replace U.S. dollar LIBOR as the reference rate for its 6.70% Junior Subordinated Notes. The replacement rate will include a tenor spread adjustment of 0.26161% per annum.

PPL Corporation is strategically repositioned for top-tier earnings and dividend growth, with a clear strategy and a strong balance sheet. The company aims to be the best utility company in the nation and has prioritized investments in network reliability, clean energy transition, and operational savings. PPL plans to retire aging coal units and replace them with natural gas, solar power, and battery storage. The company's annual meeting included the election of directors and approval of executive compensation.

PPL Corporation (NYSE: PPL) will announce its consolidated first-quarter 2023 earnings results on May 4, 2023. The conference call, starting at 11 a.m. ET, will feature CEO Vincent Sorgi and other executives discussing the results and the company’s outlook. The call will be available for live audio streaming, and a replay will be accessible for 90 days afterward. PPL, based in Allentown, Pennsylvania, serves over 3.5 million customers in the U.S., focusing on reliable and affordable energy services. Known for building sustainable energy solutions, PPL is advancing smarter power grids. Details on accessing the webcast or call can be found on PPL's investor relations page.

PPL Corporation is initiating a pioneering carbon capture research project at its Cane Run Generating Station in Louisville, Kentucky, in collaboration with Louisville Gas and Electric Company, Kentucky Utilities Company, EPRI, and the University of Kentucky.

This project, supported by a $5.8 million Department of Energy grant, aims to evaluate the feasibility of capturing at least 95% of carbon dioxide emissions from the facility's natural gas combined cycle unit (CR7). The study will span until mid-2024, potentially leading to the world's first utility-scale carbon capture pilot unit.

PPL Corporation (NYSE: PPL) announced on March 30, 2023, that the Rhode Island Public Utilities Commission (RIPUC) approved $290 million for enhancing electric and gas networks through its subsidiary, Rhode Island Energy (RIE). The approved plans include $127 million for the Electric Infrastructure, Safety, and Reliability (ISR) plan and $163 million for the Gas ISR plan, focusing on maintaining safety and reliability. The projects will run from April 1, 2023, to March 31, 2024. PPL reaffirmed its 2023 earnings forecast of $1.50 to $1.65 per share, with an annual growth projection of 6% to 8% through at least 2026.

PPL Corporation (NYSE: PPL) reaffirmed its earnings forecast and growth projections following the enactment of Kentucky Senate Bill 4. This law mandates the Kentucky Public Service Commission (KPSC) to approve the retirement of fossil-fuel-fired electric generation units. PPL plans to add new combined-cycle natural gas plants, nearly 1,000 megawatts of solar, and expand energy efficiency programs by 2028. The company maintains its 2023 earnings forecast between $1.50 to $1.65 per share, with expected annual growth of 6% to 8% through at least 2026. The new law is not expected to materially impact PPL's business outlook.