PPL (NYSE: PPL) reaches non‑unanimous settlement in key Pennsylvania rate case

Rhea-AI Filing Summary

PPL Electric Utilities Corporation, a subsidiary of PPL Corporation, has reached a non‑unanimous settlement in principle in its Pennsylvania electric distribution rate case, an important step in the ongoing regulatory process with the Pennsylvania Public Utility Commission (PUC).

The settlement, filed in a case originally opened on September 30, 2025, resolves all issues among active parties, with only two parties expressing limited opposition related to the company’s proposal on maximum registered peak load. The agreement remains subject to approval by both the Administrative Law Judges and the PUC.

PPL Electric believes the settlement framework will support continued investment in a safe, reliable and resilient electric system while emphasizing customer affordability and service. A Joint Petition for approval of the non‑unanimous settlement is expected to be filed on March 10, and the company continues to anticipate a PUC ruling by the end of the second quarter of 2026, while noting it cannot predict the final outcome.

Insights

Utility regulation analyst

PPL advances its Pennsylvania distribution rate case with a settlement in principle, but key terms and approvals remain open.

PPL Electric Utilities has moved its Pennsylvania distribution rate case forward by reaching a non‑unanimous settlement in principle that resolves all issues among most active parties. Only two parties maintain limited opposition tied to maximum registered peak load, indicating focused, rather than broad, disagreement.

The agreement is not yet final and must be approved by Administrative Law Judges and the Pennsylvania Public Utility Commission. Financial specifics and customer-rate impacts are not described in this excerpt, so the economic effect is unclear. The company reiterates that it cannot predict the outcome and still expects a PUC ruling by the end of the second quarter of 2026.

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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):  March 5, 2026

 

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
1-905			PPL Electric Utilities Corporation												23-0959590
			(Exact name of Registrant as specified in its charter)
			Pennsylvania
			827 Hausman Road
			Allentown,						PA			18104-9392
			(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
Corporate Units of PPL Corporation			PPLC			New York Stock Exchange

Indicate by a 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).
☐			PPL Corporation
☐			PPL Electric Utilities Corporation
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.
☐			PPL Corporation
☐			PPL Electric Utilities Corporation

Section 8 - Other Events

Item 8.01 Other Events

On March 5, 2026, PPL Electric Utilities Corporation (the "Company") reached a non‑unanimous settlement in principle in its distribution rate case filed with the Pennsylvania Public Utility Commission ("PUC") on September 30, 2025, marking an important step forward in the regulatory process. On March 6, 2026, a letter advising the Administrative Law Judges presiding over the case of the agreement was posted on the docket for the matter, Docket Nos. R-2025-3057164, et.al. The proposed settlement is subject to approval by the PUC.

The settlement reflects extensive engagement with stakeholders and resolves all issues in the proceeding with broad agreement among the active parties. Two parties expressed limited opposition related specifically to the Company's proposal concerning maximum registered peak load. The Company believes the proposed settlement supports continued investment in a safe, reliable and resilient electric system while maintaining a strong focus on customer affordability and service. Details will be made available after the filing of the Joint Petition for approval of the non-unanimous settlement on March 10. The Joint Petition is subject to approval by the Administrative Law Judges presiding over the case.

The Company looks forward to continuing to work through the regulatory process to reach a final outcome that serves customers and communities across our service territory. The Company cannot predict the outcome of the proceeding. The Company continues to anticipate a ruling from the PUC by the end of the second quarter of 2026.

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 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 and the Company's Form 10-K and other reports on file with the U.S. Securities and Exchange Commission.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each 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
			PPL ELECTRIC UTILITIES CORPORATION
			By:			/s/ Marlene C. Beers
						Marlene C. Beers Vice President and Controller

Dated:  March 6, 2026

FAQ

What did PPL (PPL) announce about its Pennsylvania distribution rate case?

PPL Electric Utilities reached a non‑unanimous settlement in principle in its Pennsylvania distribution rate case. The agreement resolves all issues among active parties, except limited opposition on maximum registered peak load, and represents a key step forward in the regulatory process with the Pennsylvania Public Utility Commission.

Is the PPL (PPL) rate case settlement in Pennsylvania final?

No, the settlement is not final. It is a non‑unanimous settlement in principle that must be approved by the Administrative Law Judges and the Pennsylvania Public Utility Commission. The company explicitly states it cannot predict the proceeding’s outcome at this stage.

What aspects of the PPL (PPL) settlement faced opposition in the rate case?

Two parties expressed limited opposition focused specifically on PPL Electric Utilities’ proposal concerning maximum registered peak load. All other issues in the distribution rate case proceeding were resolved with broad agreement among the active parties participating in the matter.

When does PPL (PPL) expect a ruling on its Pennsylvania rate case?

PPL Electric Utilities continues to anticipate a ruling from the Pennsylvania Public Utility Commission by the end of the second quarter of 2026. That timing guidance is reiterated while the company emphasizes it cannot predict the final outcome of the rate case proceeding.

How does PPL (PPL) describe the goals of the proposed rate case settlement?

PPL Electric Utilities believes the proposed settlement supports continued investment in a safe, reliable and resilient electric system while maintaining a strong focus on customer affordability and service. The company frames the deal as balancing infrastructure needs with customer impacts.

What are the next procedural steps for PPL (PPL) in the rate case?

The company expects to file a Joint Petition for approval of the non‑unanimous settlement on March 10. That Joint Petition will then be reviewed by the Administrative Law Judges overseeing the case and ultimately the Pennsylvania Public Utility Commission for potential approval.

Filing Exhibits & Attachments

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