Recent Updates — PPLC
The Rhode Island Public Utilities Commission approved rate increases for The Narragansett Electric Company d/b/a Rhode Island Energy, authorizing annual revenue hikes of $44.1 million for electric and $93.7 million for gas with a 9.275% return on equity. The commission also resolved the Hold Harmless Commitment related to PPL's May 2022 acquisition by approving an alternative proposal that increases customer bill credits by approximately $11 million, bringing total credits to roughly $170 million. These changes are effective September 1, 2026, and PPL reaffirmed its 2026 earnings per share forecast. PPL Corporation operates in the regulated electric and gas utility industry.
On August 14, 2026, the Kentucky Public Service Commission issued an order in the base rate proceedings for Louisville Gas and Electric Company and Kentucky Utilities Company. The commission approved certain elements of the companies' rehearing requests, including regulatory asset recovery and updated cost estimates, while denying other aspects. These adjustments result in estimated annual revenue increases of approximately $4 million for LG&E and $3 million for KU above prior February 2026 orders. Revised rates are effective immediately. PPL Corporation reaffirmed its long-term earnings per share growth targets. The company operates in the electric utility industry, providing electricity and natural gas services to customers in Kentucky and Virginia.
PPL Corporation reported second-quarter 2026 GAAP earnings of $0.30 per share, up from $0.25 in the prior year period. Ongoing earnings per share were $0.33, compared to $0.32 a year ago. The company reaffirmed its 2026 ongoing earnings forecast range of $1.90 to $1.98 per share and its annual EPS growth target of 6% to 8% through at least 2029. PPL estimates that current economic development in Pennsylvania and Kentucky could present potential generation investment upside of $10 billion to $12 billion through 2032, driven largely by data center demand. The company operates as a regulated electric and natural gas utility serving customers primarily in Pennsylvania, Kentucky, and Rhode Island.
PPL Corporation elected Kenneth M. Hartwick as a director, effective July 1, 2026. Mr. Hartwick, who currently serves as Chairman of the Board at MYR Group Inc., will serve on the People and Compensation Committee and Finance Committee of the Board. PPL Corporation is an electric utility company providing power generation and distribution services.