PPL Corporation (NYSE:PPL) Files An 8-K Other EventsItem 8.01 Other Events
On June 29, 2017, the Kentucky Public Service Commission ("KPSC") issued a corrected order in the rate increase proceedings of Louisville Gas and Electric Company ("LG&E") and Kentucky Utilities Company ("KU" and, together with LG&E, the "Companies"). The new order accepts certain rate calculation and other technical corrections, proposed by the Companies to the KPSC's prior order, dated June 22, 2017, in the matter.
The KPSC's corrected order provides for increases of $57 million and $52 million, respectively, in the annual revenue requirements associated with LG&E and KU base electricity rates and $7 million in the annual revenue requirement associated with LG&E base gas rates. These corrected amounts represent increases of approximately $0.8 million, $1.1 million and $0.3 million in the respective electricity and gas annual revenue requirements increase amounts granted in the original KPSC order.
The new rates became effective on July 1, 2017.
Statements in this report regarding future events and their timing, including the Companies’ future rates, rate mechanisms or returns on equity, as well as statements as to future costs or expenses, regulation, corporate strategy and performance, are "forward-looking statements" within the meaning of the federal securities laws.Although the Companies believe that the expectations and assumptions reflected in these forward-looking statements are reasonable, these expectations, assumptions and statements are subject to a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements.The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: subsequent phases of rate proceedings and regulatory cost recovery; market demand and prices for electricity or gas; political, regulatory or economic conditions in states and regions where the Companies conduct business; and the progress of actual construction, purchase or installation of assets or operations subject to tracker mechanisms. Any such forward-looking statements should be considered in light of such important factors and in conjunction with PPL Corporation's, LG&E and KU Energy LLC's and the Companies ' Form 10-K and other reports on file with the Securities and Exchange Commission.
About PPL Corporation (NYSE:PPL)
PPL Corporation (PPL) is a utility holding company. Through its subsidiaries, PPL delivers electricity to customers in the United Kingdom, Pennsylvania, Kentucky, Virginia and Tennessee; delivers natural gas to customers in Kentucky, and generates electricity from power plants in Kentucky. It operates through three segments: U.K. Regulated Segment, Kentucky Regulated Segment and Pennsylvania Regulated Segment. The U.K. Regulated Segment comprises PPL Global, which includes PPL WPD Limited and its subsidiaries’ regulated electricity distribution operations, among others. The Kentucky Regulated segment consists of the operations of LG&E and KU Energy LLC, a subsidiary of PPL, which owns and operates regulated public utilities engaged in the generation, transmission, distribution and sale of electricity and distribution and sale of natural gas. The Pennsylvania Regulated segment consists of the operations of PPL Electric Utilities Corporation, which distributes and transmits electricity.
