PPL Corporation (NYSE:PPL) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure
Corporation has reaffirmed its previously announced 2017 earnings
forecast of $2.05 to $2.25 per share, with a midpoint of $2.15
per share, and projected compound annual earnings per share
growth rate of 5% to 6% from 2017 through 2020.
and Kentucky Utilities Company (“KU” and, together with LGE,
the “Companies”) issued a press release announcing that they
have entered into an agreement with the majority of the
intervenors in their proceedings commenced in November 2016
before the Kentucky Public Service Commission (“KPSC”)
regarding increases in base electricity rates at LGE and KU and
base gas rates at LGE.
revenue requirements associated with LGE and KU base electricity
rates of $59.4 million and $54.9 million, respectively, and with
LGE base gas rates of $7.5 million. The proposal includes an
authorized 9.75% return on equity in such base rate calculations.
As part of the proposed agreement, the Companies will agree to
withdraw their current request for a Certificate of Public
Convenience and Necessity (“CPCN”) regarding full deployment of
advanced meters, but continue to request a CPCN for substation
automation and continue to propose certain gas line replacement
projects.
proceedings, is scheduled for May 9, 2017. The agreement is
subject to KPSC review and action. Subject to such steps, the
changed rates may become effective on July 1, 2017.
and Case No. 2016-00371 for LGE.
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Exhibits
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99.1 –
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Press Release dated April 19, 2017 of Louisville Gas and
Electric Company and Kentucky Utilities Company. |
timing, including the Companies’ requested rate increases,
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-
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; 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, LGE 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. PPL Corporation (NYSE:PPL) Recent Trading Information
PPL Corporation (NYSE:PPL) closed its last trading session down -0.38 at 37.72 with 4,097,874 shares trading hands.
