Profile: PPL Corp (PPL.N)

PPL.N on New York Stock Exchange

28 Aug 2014
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PPL Corporation (PPL), incorporated on March 15, 1994, is an energy and utility holding company. The Company operates in four segments: Kentucky Regulated, U.K. Regulated, Pennsylvania Regulated and Supply. Through its subsidiaries, PPL generates electricity from power plants in the northeastern, northwestern and southeastern United States; markets wholesale or retail energy primarily in the northeastern and northwestern portions of the United States; delivers electricity to customers in Pennsylvania, Kentucky, Virginia, Tennessee and the United Kingdom, and natural gas to customers in Kentucky. As of December 31, 2012, the Company’s subsidiaries were PPL Energy Supply, LLC (PPL Energy Supply), PPL Electric Utilities Corporation (PPL Electric), LG&E and KU Energy LLC (LKE), PPL Global, LLC (PPL Global), PPL EnergyPlus LLC (PPL EnergyPlus), PPL Generation LLC (PPL Generation), Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU).

Kentucky Regulated Segment

LG&E and KU are engaged in the regulated generation, transmission, distribution and sale of electricity in Kentucky, and in KU's case, Virginia and Tennessee. LG&E also engages in the distribution and sale of natural gas in Kentucky. LG&E provides electric service to approximately 393,000 customers in Louisville and adjacent areas in Kentucky, covering approximately 700 square miles in nine counties. LG&E provides natural gas service to approximately 318,000 customers in its electric service area and seven additional counties in Kentucky. KU provides electric service to approximately 510,000 customers in 77 counties in central, southeastern and western Kentucky; approximately 29,000 customers in five counties in southwestern Virginia; and fewer than 10 customers in Tennessee, covering approximately 4,800 non-contiguous square miles. KU also sells wholesale electricity to 12 municipalities in Kentucky under load following contracts. In Virginia, KU operates under the name Old Dominion Power Company. LG&E and KU provide electric delivery service, and LG&E provides natural gas distribution service, in their various service territories pursuant to certain franchises, licenses, statutory service areas, easements and other rights or permissions granted by state legislatures, cities or municipalities or other entities.

At December 31, 2012, LKE owned, controlled or had an ownership interest in generating capacity (summer rating) of 8,187 megawatts, of which 3,354 megawatts related to LG&E and 4,833 megawatts related to KU, in Kentucky, Indiana, and Ohio. LG&E and KU operate under a Federal Energy Regulatory Commission (FERC)-approved open access transmission tariff.

International Regulated Segment

WPD includes PPL WW Holdings Limited (PPL WW) and PPL WEM Holdings plc (PPL WEM) and their subsidiaries. WPD, through indirect wholly owned subsidiaries, operates four of the 15 distribution networks providing electricity service in the United Kingdom. WPD's energy-related businesses revenues include ancillary activities that support the distribution business, including telecommunications and real estate. WPD's telecommunication revenues are from the rental of fiber optic cables primarily attached to WPD's overhead electricity distribution network. WPD also provides meter services to businesses across the United Kingdom.

WPD is authorized by Office of Gas and Electricity Markets (Ofgem) to provide electric distribution services within its concession areas and service territories, subject to certain conditions and obligations. WPD operates in four distribution businesses: WPD (South West), WPD (South Wales), WPD (West Midlands) and WPD (East Midlands). The operations of WPD (South West), WPD (South Wales), WPD (East Midlands) and WPD (West Midlands) are regulated by Ofgem under the direction of the Gas and Electricity Markets Authority.

Pennsylvania Regulated Segment

Pennsylvania Regulated Segment includes the regulated electric delivery operations of PPL Electric. PPL Electric is subject to regulation as a public utility by the Pennsylvania Public Utility Commission (PUC), and certain of its transmission activities are subject to the jurisdiction of the FERC under the Federal Power Act. PPL Electric delivers electricity to approximately 1.4 million customers in a 10,000-square mile territory in 29 counties of eastern and central Pennsylvania. PPL Electric also provides electricity supply in this territory as a Provider of Last Resort (PLR). PPL Electric's transmission facilities are within PJM Interconnection, L.L.C. (PJM), which operates the electric transmission network and electric energy market in the Mid-Atlantic and Midwest regions of the United States.

Supply Segment

Supply Segment Owns and operates domestic power plants to generate electricity; markets and trades this electricity, purchased power, and other energy-related products to competitive wholesale and retail markets, and acquires and develops competitive domestic generation projects. It consists primarily of the activities of PPL Generation and PPL EnergyPlus. PPL Energy Supply has generation assets that are located in the northeastern and northwestern U.S. markets. The northeastern generating capacity is located primarily in Pennsylvania within PJM and northwestern generating capacity is located in Montana. PPL Energy Supply enters into energy and energy-related contracts. PPL EnergyPlus sells the electricity produced by PPL Energy Supply's generation plants based on prevailing market rates.

PPL Energy Supply owned or controlled generating capacity (summer rating) of 10,591 megawatts at December 31, 2012. PPL Energy Supply's generation subsidiaries are exempt wholesale generators (EWGs) that sell electricity into wholesale markets. EWGs are subject to regulation by the FERC, which has authorized these EWGs to sell the electricity generated at market-based prices. PPL Energy Supply subsidiaries own or control renewable energy projects located in Pennsylvania, New Jersey, Vermont, Connecticut and New Hampshire with a generating capacity (summer rating) of 70 megawatts. PPL EnergyPlus sells the energy, capacity and renewable energy credits (RECs) produced by these plants into the wholesale market, as well as to commercial, industrial and institutional customers.

A PPL Generation subsidiary owns a 12.34% interest in the Keystone plant and a 16.25% interest in the Conemaugh plant. PPL Generation owns a 12.34% interest in Keystone Fuels, LLC, and a 16.25% interest in Conemaugh Fuels, LLC. The Keystone plant contracts with Keystone Fuels, LLC for its coal requirements, which provided 4.3 million tons of coal to the Keystone plant in 2012. The Conemaugh plant requirements are purchased under contract from Conemaugh Fuels, LLC, which provided 4.1 million tons of coal to the Conemaugh plant in 2012. PPL Montana has a 50% leasehold interest in Colstrip Units 1 and 2, and a 30% leasehold interest in Colstrip Unit 3. NorthWestern owns a 30% leasehold interest in Colstrip Unit 4.

Company Address

PPL Corp

ALLENTOWN   PA   18101-1179
P: +1610.7745151
F: +1610.7745281

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