PPL Completes Sale of Hydroelectric Assets in Maine

ALLENTOWN, Pa., Nov. 2 /PRNewswire-FirstCall/ -- PPL Corporation (NYSE: PPL)
announced Monday (11/2) that its PPL Maine subsidiary has completed the sale
of the majority of PPL Maine's hydroelectric generation business to Black Bear
Hydro Partners, LLC, an affiliate of ArcLight Capital Partners, LLC, for
approximately $81 million.

The sale to the ArcLight affiliate involves five hydroelectric generating
facilities in Maine that produce a total of 23 megawatts of electricity and
are 100 percent owned by PPL; and PPL's 50 percent ownership interest in a
separate 13-megawatt hydroelectric project, of which the other 50 percent is
already owned by another ArcLight affiliate.

The $81 million excludes certain contingent consideration that will be
realized upon completion of PPL's previously announced potential sale of three
other hydroelectric facilities to the Penobscot River Restoration Trust.

That transaction originated in June 2004, when PPL partnered with a coalition
of environmental groups, government agencies and the Penobscot Indian Nation
on a settlement agreement to provide the Trust with the option to buy these
three facilities. The Trust exercised this option in June 2008, and the
completion of that sale is pending the receipt of certain state and federal
regulatory approvals.

"PPL believes strongly in this important project and remains fully committed
to obtaining all approvals necessary to transfer these three facilities to the
Trust," said William H. Spence, PPL's executive vice president and chief
operating officer.

PPL expects to record a special after-tax gain of approximately $0.06 per
share, excluding the contingent consideration, in the fourth quarter of 2009
as a result of the ArcLight transaction. PPL would record another special
after-tax gain of approximately $0.02 per share upon receipt of the contingent
consideration from ArcLight.

Both the initial and the contingent consideration from ArcLight's affiliate
would enhance PPL's cash flow position and be modestly accretive to the
company's earnings. PPL is not changing its current 2009 forecast of earnings
from ongoing operations as a result of the sale.

"As is the case with the pending sale of our Long Island generation business,
these have been good assets for us in Maine but are not core to our
concentrated generation positions in the PJM Interconnection and in the
Northwest," Spence said.

PPL Corporation, headquartered in Allentown, Pa., controls or owns more than
12,000 megawatts of generating capacity in the United States, sells energy in
key U.S. markets and delivers electricity to about 4 million customers in
Pennsylvania and the United Kingdom. More information is available at
www.pplweb.com.

ArcLight Capital Partners, LLC, is one of the world's leading energy
investment firms with more than $6.8 billion under management. ArcLight's
investment team has extensive energy investing experience, industry
relationships and asset level knowledge. ArcLight is headquartered in Boston
with offices in New York City, London and Luxembourg. More information about
ArcLight can be found at http://www.arclightcapital.com.

Certain statements contained in this news release, including statements with
respect to future earnings, cash flow and business disposition, are
"forward-looking statements" within the meaning of the federal securities
laws. Although PPL Corporation believes that the expectations and assumptions
reflected in these forward-looking statements are reasonable, these statements
involve 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: market demand and prices for
energy, capacity and fuel; competition; accounting requirements; operating
performance and costs of plants and other facilities; political, regulatory or
economic developments and conditions; disposition proceeds; and regulatory
approvals. Any such forward-looking statements should be considered in light
of such factors and in conjunction with PPL Corporation's Form 10-K and other
reports on file with the Securities and Exchange Commission.

SOURCE PPL Corporation

media, George E. Biechler, +1-610-774-5997, financial analysts, Joseph P.
Bergstein, +1-610-774-5609, both of PPL Corporation