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PPL Corporation is a utility holding company headquartered in Allentown, Pennsylvania. The company delivers electricity to customers in Pennsylvania, Kentucky, Virginia, and Rhode Island, and provides natural gas services in Kentucky and Rhode Island through its regulated utility subsidiaries . PPL also generates electricity from power plants located in Kentucky . The company's revenue is derived from various customer classes, including residential, commercial, industrial, and wholesale customers .
- Kentucky Regulated Segment - Delivers electricity and provides natural gas services to customers in Kentucky, and generates electricity from power plants located in the state.
- Pennsylvania Regulated Segment - Delivers electricity to customers in Pennsylvania, serving a diverse range of customer classes.
- Rhode Island Regulated Segment - Provides both electricity and natural gas services to customers in Rhode Island.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Christine M. Martin Executive | President of PPL Electric Utilities Corporation | None | President of PPL Electric Utilities since September 2023, previously led public affairs and sustainability initiatives at PPL. | |
Joseph P. Bergstein, Jr. Executive | Executive Vice President and Chief Financial Officer (CFO) | None | CFO since April 2021, oversees financial operations, including reporting, investor relations, and corporate development. | |
Marlene C. Beers Executive | Vice President and Controller | None | Controller since March 2019, responsible for financial reporting and internal controls. Also serves as Principal Financial Officer for PPL Electric Utilities. | |
Vincent Sorgi Executive | President and Chief Executive Officer (CEO) | Director at Electric Power Research Institute, Edison Electric Institute, St. Luke’s Health Network, Da Vinci Science Center. | CEO since June 2020, led PPL's transformation into a pure-play U.S. regulated utility holding company. Previously CFO and COO at PPL. | View Report → |
Wendy E. Stark Executive | Executive Vice President-Utilities, Chief Legal Officer (CLO), and Corporate Secretary | None | CLO since 2021, oversees legal, regulatory, and corporate governance functions. Promoted to EVP-Utilities in March 2024. | |
Armando Zagalo de Lima Board | Independent Director | None | Director since 2014, provides expertise in digital innovation, grid modernization, and global enterprise leadership. Former EVP at Xerox Corporation. | |
Arthur P. Beattie Board | Independent Director | Independent Director at Southwest Water Company. | Director since 2020, brings 42 years of utility industry experience, including as CFO and Chief Risk Officer of Southern Company. | |
Craig A. Rogerson Board | Independent Chair of the Board | Executive Chair at The Lycra Company; Director at Vibrantz Technologies, Inc.; Director at Pancreatic Cancer Action Network; Advisory Board Member at Michigan State University. | Independent Chair since 2005, provides strategic oversight and governance expertise. Extensive leadership experience in the chemicals industry. | |
Heather B. Redman Board | Independent Director | Co-Founder and Managing Partner at Flying Fish Partners; Member of North American Advisory Board at The Hawthorn Club. | Director since 2021, specializes in advanced technologies, including AI and cleantech for renewable energy. Former General Counsel of Getty Images. | |
Keith H. Williamson Board | Independent Director | President and Director of the Centene Foundation. | Director since 2005, provides legal, finance, and governance expertise. Former EVP, Secretary, and General Counsel at Centene Corporation. | |
Natica von Althann Board | Independent Director | Director at TD Bank US Holding Company and subsidiaries; Director at FuelCell Energy, Inc.; Director at Friends of Caritas Cuba. | Director since 2009, brings expertise in risk management, finance, and governance. Former senior executive at Bank of America and Citigroup. | |
Phoebe A. Wood Board | Independent Director | Director at Invesco Ltd., Leggett & Platt, and Pioneer Natural Resources Company. | Director since 2018, brings financial expertise and experience in corporate governance and sustainability. Former CFO of Brown-Forman Corporation. | |
Raja Rajamannar Board | Independent Director | Chief Marketing & Communications Officer and President, Healthcare at MasterCard Incorporated. | Director since 2011, provides expertise in cybersecurity, technology, and customer-focused marketing. Leads sustainability initiatives at MasterCard. |
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Given the recent PJM capacity auction results showing tight supply and elevated prices, what specific steps is PPL taking to address resource adequacy and mitigate higher costs for customers, and how might this influence your generation development plans or potential regulatory changes in Pennsylvania?
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With your Utility of the Future strategy targeting $175 million in annual O&M savings by 2026, can you detail the opportunities for further efficiencies beyond that timeframe, especially leveraging AI and advanced technologies, and how might these additional savings impact your earnings growth projections?
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You've reported nearly 5 gigawatts of potential data center demand in advanced stages in Pennsylvania, up from 3 gigawatts previously; how confident are you that these projects will materialize given that some interconnection requests may be duplicative, and what risks do these projects pose to your capital plan if they do not proceed as expected?
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As you prepare to file the Kentucky IRP in October, how are you approaching the potential need for new generation capacity, and how will you balance adding dispatchable resources like natural gas plants with your net-zero goals, regulatory approvals, and customers' expectations for affordability and reliability?
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Considering your significant capital investment plans and potential additional opportunities, how do you evaluate your balance sheet capacity to fund this growth while maintaining your targeted FFO to debt ratio, and under what circumstances might equity financing become necessary?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Narragansett Electric | 2022 | The Narragansett Electric acquisition was completed on May 25, 2022, by PPL Corporation’s subsidiary, PPL Rhode Island Holdings, for a total consideration of approximately $5.3 billion (including a $3.8 billion cash component and $1.5 billion in assumed debt) funded by proceeds from its 2021 U.K. utility sale; the deal strategically expands PPL's portfolio of regulated assets and enhances long-term growth while incorporating transition services via a TSA with National Grid. |
Recent press releases and 8-K filings for PPL.
- PPL Corporation filed an 8-K on May 2, 2025, detailing a series of management meetings with analysts and investors to discuss its corporate strategy and business outlook.
- The company reaffirmed its 2025 guidance range of $1.75 to $1.87 per share with a midpoint of $1.81 as discussed during recent events and its April 30, 2025 earnings call.
- Supporting slides for these discussions will be available on the company's website starting from May 2, 2025.
- Q1 2025 Earnings: GAAP EPS of $0.56 and Non-GAAP (ongoing) EPS of $0.60; GAAP earnings of $414M and ongoing earnings of $444M compared to Q1 2024’s $307M and $0.42 per share .
- Guidance & Growth: Reaffirmed 2025 earnings forecast range of $1.75–$1.87 per share (midpoint $1.81) with 6%-8% annual EPS and dividend growth targets through at least 2028 .
- Capital Investments: On track to complete approximately $4B–$4.3B in 2025 as part of a broader $20B plan through 2028, including targeted O&M savings of $150M .
- Strategic Projects: Filed a CPCN request for new generation capacity projects including two 645 MW natural gas combined cycle units and advanced data center initiatives in Kentucky and Pennsylvania .
- Financial Flexibility: Supported by strong balance sheet metrics with a $2B ATM program and significant equity issuance .
- Regulatory Enhancements: Emphasized long‐term growth with mechanisms for near real‐time recovery .
- Form 8-K Filed: Key media contact provided; contact Ryan Hill (610-774-4033) for further details .