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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.
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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?
Recent developments and announcements about PPL.
Corporate Leadership
CEO Change
The CEO of PPL, Vincent Sorgi, has not left the company. However, the Executive Vice President and Chief Operating Officer, Francis X. Sullivan, will be leaving the company effective April 4, 2025, as part of an internal reallocation of duties.
Leadership Change
Francis X. Sullivan is leaving his position as Executive Vice President and Chief Operating Officer at PPL Corporation due to an internal reallocation of duties, resulting in the elimination of his position. His employment will end on April 4, 2025. Mr. Sullivan will receive severance payments and benefits as per the company's Executive Severance Plan. His duties will be delegated to other officers within the company.