PPL unit seeks $180.7M and $49.4M Rhode Island rate hikes

PPL Corporation reported that its subsidiary Rhode Island Energy has filed a request with the Rhode Island Public Utilities Commission for a two-year increase in electric and natural gas base distribution rates, expected to take effect on September 1, 2026.

Rhea-AI Filing Summary

PPL Corporation reported that its subsidiary Rhode Island Energy has filed a request with the Rhode Island Public Utilities Commission for a two-year increase in electric and natural gas base distribution rates, expected to take effect on September 1, 2026. The plan is designed to collect additional operating revenue of $180.7 million in the first year and $49.4 million in the second year across electric and gas combined. The filing is based on a historical test year from September 1, 2024 through August 31, 2025 and includes a requested authorized return on equity of 10.75%. The company states it cannot predict the outcome of the proceeding and anticipates a PUC ruling in the third quarter of 2026.

Insights

Regulated utilities analyst

PPL's Rhode Island unit seeks multi-year rate increases to boost allowed revenues, with approval timing and outcome still uncertain.

Rhode Island Energy, a subsidiary of PPL Corporation, has applied for a two-year base distribution rate plan that would raise combined electric and gas operating revenue by $180.7 million in the first year and $49.4 million in the second. The proposal is built on a test year from September 1, 2024 through August 31, 2025, which anchors cost and revenue assumptions.

The requested authorized return on equity of 10.75% sets the target profitability level the utility is asking regulators to approve. For regulated utilities, these rate and ROE outcomes are central to earnings power because they determine how much cost recovery and profit are permitted on invested capital.

The company notes it cannot predict the outcome and expects a ruling in the third quarter of 2026. Actual financial impact will depend on how closely the Rhode Island Public Utilities Commission’s final decision aligns with the requested revenue levels and ROE.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did PPL (PPL) announce in this 8-K filing?

PPL Corporation reported that its subsidiary Rhode Island Energy filed an application with the Rhode Island Public Utilities Commission for a two-year increase in electric and natural gas base distribution rates.

How much additional revenue is Rhode Island Energy seeking in the new rate plan?

The proposed base distribution rates are designed to collect additional operating revenue of $180.7 million in the first year and $49.4 million in the second year for electric and gas combined.

When would the new PPL Rhode Island Energy rates take effect if approved?

The requested increase in electric and natural gas base distribution rates is expected to be effective on September 1, 2026, subject to approval by the Rhode Island Public Utilities Commission.

What return on equity is Rhode Island Energy requesting in this rate case?

The application is based on a requested authorized return on equity of 10.75%.

What test year does PPL’s Rhode Island rate filing use?

The rate application uses a historical test year from September 1, 2024 through August 31, 2025 to support its proposed revenue and cost levels.

When does PPL expect a decision on the Rhode Island rate case?

Rhode Island Energy anticipates a ruling from the Rhode Island Public Utilities Commission in the third quarter of 2026.

What is the docket number for PPL’s Rhode Island rate proceeding?

The Rhode Island Public Utilities Commission proceeding has been designated as Docket No. 25-45-GE.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Understanding 8-K Material Events →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 11/26/2025 - 09:26 AM Learn about SEC filing dates

false000092222400009222242025-11-262025-11-260000922224us-gaap:CommonStockMember2025-11-262025-11-260000922224ppl:A2007SeriesADue2067Member2025-11-262025-11-26

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 

Date of Report (Date of earliest event reported):  November 26, 2025

 

Commission File Number

Registrant; State of Incorporation; Address and Telephone Number

IRS Employer Identification No.

1-11459

PPL Corporation

23-2758192

(Exact name of Registrant as specified in its charter)

Pennsylvania

645 Hamilton Street

Allentown,

PA

18101

(610)

774-5151

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol:			Name of each exchange on which registered
Common Stock of PPL Corporation			PPL			New York Stock Exchange
Junior Subordinated Notes of PPL Capital Funding, Inc.
2007 Series A due 2067			PPL/67			New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 7 - Regulation FD

Item 7.01 Regulation FD Disclosure

On November 26, 2025, Rhode Island Energy (the "Company"), a subsidiary of PPL Corporation, issued a press release announcing that it had filed a request with the Rhode Island Public Utilities Commission ("PUC") for an increase in electric and natural gas base distribution rates, expected to be effective September 1, 2026. A copy of the press release is furnished as Exhibit 99.1.

In its application, the Company seeks to implement a two-year rate plan. In the first year of the rate plan, the Company's proposed base distribution rates for electric and gas combined are designed to collect additional operating revenue in the amount of $180.7 million. In the second year of the rate plan, the Company's proposed base distribution rates for electric and gas combined are designed to collect additional operating revenue in the amount of $49.4 million.

The application is based on a historical test year of September 1, 2024 through August 31, 2025 and a requested authorized return-on-equity of 10.75%.

The Company cannot predict the outcome of the proceeding. The Company anticipates a ruling from the PUC during the third quarter of 2026.

The PUC proceeding has been designated as Docket No. 25-45-GE.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d)

Exhibits

99.1 -

Press release dated November 26, 2025 announcing Rhode Island Energy's filing with the Rhode Island Public Utility Commission of an application for an increase in electrical and natural gas base distribution rates.

104 -

Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document).

Cautionary Statement on Forward-Looking Statements

Statements in this report regarding future events and their timing, including 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 PPL Corporation and the Company 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; political, regulatory or economic conditions in states and regions where the Company conducts business and final negotiated terms and conditions in any prospective contracts. All forward-looking statements should be considered in light of these important factors and in conjunction with PPL Corporation's Form 10-K and other reports on file with the U.S. Securities and Exchange Commission.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			PPL CORPORATION
			By:			/s/ Marlene C. Beers
						Marlene C. Beers Vice President and Controller

Dated:  November 26, 2025