Welcome to our dedicated page for PPL news (Ticker: PPL), a resource for investors and traders seeking the latest updates and insights on PPL stock.
PPL Corporation operates a regulated electric and natural gas utility holding company serving customers in Pennsylvania, Kentucky, Rhode Island and Virginia. Its news commonly covers earnings releases, long-term growth targets, utility rate proceedings, transmission and distribution investments, and capital-market actions tied to funding regulated infrastructure.
Company updates also feature subsidiary activity at PPL Electric Utilities, Louisville Gas and Electric, Kentucky Utilities and Rhode Island Energy. Recurring operating themes include electric delivery and transmission in Pennsylvania, electric generation and gas distribution in Kentucky, Rhode Island electric and gas utility matters, renewable-energy partnerships, grid reliability initiatives and evaluations of long-term energy supply options.
PPL Corporation (NYSE: PPL) will host a conference call on January 11 to discuss capital investment plans, cost savings, and business outlook. The call aims to update stakeholders on the company's strategic repositioning as a leading U.S. regulated utility. PPL's president expressed confidence in delivering premium growth and ongoing infrastructure investment in Kentucky and Rhode Island. Following the call, PPL's team will meet with investors at the Evercore ISI utility conference on January 12 and 13 in Palm Beach, Florida.
PPL Corporation, based in Allentown, Pennsylvania, has successfully raised over $8 million through charitable giving campaigns this fall, contributing to a total of $16 million towards community support across Kentucky, Pennsylvania, and Rhode Island. This initiative reflects the company’s commitment to improving local communities through employee and retiree contributions, as well as matching funds from PPL’s foundations. The funds will assist various local nonprofits and educational programs vital for community development and health services.
PPL Corporation's subsidiaries, Louisville Gas and Electric Company and Kentucky Utilities Company, plan to replace 1,500 megawatts of aging coal-fired generation by 2028. The proposal includes two natural gas plants, 1,000 megawatts of solar, and 125 megawatts of battery storage, totaling a $2.1 billion investment. This effort seeks approval from the Kentucky Public Service Commission by October 1, 2023, aiming to enhance reliability, reduce overall emissions by 25%, and meet customer energy needs sustainably.
PPL Corporation (NYSE: PPL) announced a quarterly dividend of $0.2250 per share on November 18, 2022, payable on January 3, 2023. This dividend will benefit shareholders of record as of December 9, 2022. PPL, based in Allentown, Pennsylvania, serves approximately 3.5 million customers and is committed to enhancing energy solutions through smarter and more dynamic power grids.
PPL Corporation reported Q3 2022 earnings of $174 million ($0.24 per share), down from $207 million ($0.27) in Q3 2021. Ongoing earnings rose to $305 million ($0.41 per share), up from $277 million ($0.36). For the first nine months, earnings were $566 million ($0.77) compared to a net loss of $1.61 billion ($2.10) in 2021. The company raised its 2022 ongoing earnings forecast midpoint to $1.40 (from $1.37) and narrowed the range to $1.35-$1.45. PPL remains confident in achieving 6-8% annual EPS and dividend growth through 2025.
Aspen Power Partners has acquired Safari Energy from PPL Corporation for $350 million, significantly strengthening its position in the distributed solar market. This acquisition is among the largest in the commercial and industrial (C&I) solar sector, adding over 600 projects and a total of 220 MW of operating and under-construction assets. With Carlyle's support, Aspen aims to achieve gigawatt scale by mid-decade, enhancing its capabilities to meet the growing demand for solar and storage solutions.
PPL Corporation (NYSE: PPL) and Elia Group's WindGrid have signed a memorandum of understanding to develop transmission solutions for integrating offshore wind energy into the New England grid. This collaboration leverages PPL's expertise in U.S. onshore transmission alongside Elia Group's experience with offshore networks. Both companies aim to respond to a request for information from five New England states for upcoming renewable energy integration plans. Recent studies predict up to 30,000 megawatts of offshore wind capacity could be deployed in the region by 2050.
PPL Corporation (NYSE:PPL) will release its consolidated third-quarter 2022 earnings results on November 4, 2022. CEO Vincent Sorgi and the executive team will discuss these results and the company's outlook during a conference call scheduled for 11 a.m. Eastern Time. The call will be available via live webcast and audio format, with a replay accessible for 90 days afterwards. PPL serves over 3.5 million customers and focuses on building resilient power grids while advancing sustainable energy solutions.
Rhode Island Energy has issued a Request for Proposals (RFP) to secure 600 to 1,000 MW of offshore wind energy, aiming to provide over 70% of the state's estimated 2030 electricity demand with renewable sources. This initiative builds on existing offshore projects and could power approximately 700,000 homes annually. The final RFP, refined after public comments, seeks long-term power purchase agreements (PPAs) for 15 to 20 years. Bids will be collected until February 1, 2023, with winners announced in August 2023, supporting Rhode Island's goal for 100% renewable energy by 2033.
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