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.
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PPL Electric Utilities urges homeowners to call 811 before any digging projects to prevent accidents and damage to underground utilities. Pennsylvania law mandates this call at least three business days in advance of excavation, providing a safety measure for both homeowners and utility crews. A survey revealed that while nearly 40% of homeowners plan to dig this year, almost half are unaware of the necessity to call 811. In 2019, there were 532,000 excavation-related damages costing approximately $30 million. PPL Electric Utilities serves over 1.4 million customers in Pennsylvania.
PPL Corporation announced significant leadership changes on April 5, 2021. Gregory N. Dudkin has been promoted to executive vice president and chief operating officer, while Stephanie R. Raymond will succeed him as president of PPL Electric Utilities effective April 12, 2021. Dudkin has spearheaded improvements in customer satisfaction and operational efficiency, while Raymond has overseen successful smart grid enhancements. These transitions aim to strengthen PPL's position as a U.S.-focused energy company, especially amid ongoing acquisitions to expand their operations in Rhode Island.
PPL Corporation (NYSE: PPL) announced the appointment of Wendy E. Stark as senior vice president, general counsel, and corporate secretary, effective April 12, 2021. She replaces Joanne Raphael, who will transition to executive vice president and chief legal officer until her retirement on June 1, 2021. Stark brings over 20 years of legal experience, primarily in the public utility sector, previously serving at Pepco Holdings. PPL continues to focus on creating long-term stakeholder value and enhancing customer service as it enters a new century of operations.
PPL Corporation (NYSE: PPL) has finalized agreements to divest its U.K. utility business, Western Power Distribution (WPD), to National Grid plc for £7.8 billion. Concurrently, PPL will acquire National Grid's Rhode Island utility, The Narragansett Electric Company, for $3.8 billion. This move aims to focus PPL on U.S. markets, enhancing its balance sheet and operational efficiencies. The transactions are expected to close within four months for WPD and within a year for Narragansett Electric, positioning PPL for sustainable growth and stable dividends.
PPL Corporation reported 2020 earnings of $1.47 billion ($1.91/share), down from $1.75 billion ($2.37/share) in 2019. Adjusted earnings from ongoing operations were $1.85 billion ($2.40/share), slightly below 2019's $1.81 billion ($2.45/share). The pandemic impacted sales, particularly in the U.K. and Kentucky, costing approximately $0.12/share. PPL aims to complete the sale of its U.K. utility by mid-2021, enhancing its U.S. focus. The company continues to pay dividends, maintaining a record of 301 consecutive quarterly payments. Fourth-quarter earnings in 2020 were $290 million ($0.38/share), compared to $364 million ($0.48/share) in 2019.
PPL Corporation (NYSE: PPL) will announce its fourth-quarter and year-end 2020 earnings on February 18. The company's president and CEO, Vincent Sorgi, alongside the executive team, will present the results during a conference call at 11 a.m. Eastern Time. The call will be available via live webcast and telephone. PPL serves 10 million customers across the U.S. and the U.K. and is committed to delivering exceptional service and value to shareholders.
PPL Corporation (NYSE: PPL) has announced its 2021 Annual Meeting of Shareowners will occur virtually on May 18, 2021, at 9 a.m. Eastern time. Shareowners eligible to participate are those on record as of February 26, 2021. Proxy materials with joining instructions will be mailed to shareowners. Headquartered in Allentown, Pennsylvania, PPL operates seven utilities serving 10 million customers across the U.S. and the U.K., supporting its commitment to exceptional customer service and shareholder value.
PPL Corporation has appointed Craig A. Rogerson as independent board chair, effective March 1, 2021, following the retirement of William H. Spence. Rogerson, a board member since 2005, brings extensive leadership experience from his tenure in various chemical companies, including Hexion. The move emphasizes PPL's focus on corporate governance and leadership continuity. Rogerson expressed gratitude for Spence's contributions and aims to enhance operational excellence and shareholder value with current CEO Vince Sorgi.