PPL Corporation (NYSE:PPL) Files An 8-K Other Events
Item 8.01 Other Events
and Kentucky Utilities Company (“KU” and, together with LGE,
the “Companies”) issued a press release announcing the Kentucky
Public Service Commission (“KPSC”) orders approving, with
certain modifications, the unanimous settlement agreements in the
Companies’ rate increase proceedings. The settlement agreements
were previously announced on April 19, 2017. The rate changes
become effective on July 1, 2017.
million, respectively, in the annual revenue requirement
associated with LGE and KU base electric rates and $7 million in
the annual revenue requirement associated with LGE base gas
rates. The KPSC established an authorized return on equity for
base rates and the gas line tracker mechanism of 9.70% for all
three rate bases. The order represents increases of approximately
5%, 3% and 2%, respectively, in LGE and KU base electric and LGE
gas annual revenue requirements.
Companies’ requests for Certificates of Public Convenience and
Necessity (“CPCN”) for certain substation automation and
approved the Companies’ agreement to withdraw their request for
a CPCN for full deployment of advanced meters and form a
collaborative group to study such project. In addition, a CPCN
was issued for the construction of a new gas pipeline in Bullitt
County.
million, $4 million and $1 million, respectively, in LGE and KU
electric and LGE gas annual revenue requirements from the terms
proposed in the settlement (including a reduction of 0.05% in
authorized return on equity). The KPSC order also modified the
settlement to provide for the increase in the residential monthly
basic electric service charge to occur in one step when new rates
become effective, rather than occurring over two years.
the parties, if exercised. The Companies are currently reviewing
the KPSC order.
hereto.
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(d)
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Exhibits
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99.1 –
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Press release, dated June 22, 2017, of Louisville Gas
and Electric Company
and Kentucky Utilities Company
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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
Companies’>Form 10-K and other reports on file with the
Securities and Exchange Commission.
KENTUCKY UTILITIES CO ExhibitEX-99.1 2 ppl-062617_ex991.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 LG&E and KU Energy LLCPress Release 220 West Main StreetLouisville,…To view the full exhibit click here 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.
