PPL Corporation
Overview
PPL is an energy company headquartered in Allentown, Pennsylvania. It currently controls more than 12,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets, and delivers electricity to about 10 million customers in Pennsylvania, Kentucky, and Great Britain.
History
PPL Corporation was originally known as Pennsylvania Power & Light. It was formed on June 10, 1920 from a consolidation of numerous smaller utilities operating in the eastern and central regions of Pennsylvania. The company expanded its operations over the years, both through the acquisition of other utilities and through the construction of new power plants.
In the 1990s, PPL began a series of divestitures and acquisitions to transform itself from a regional utility into a national energy supplier. In 1995, it spun off its non-utility businesses into a separate company, PP&L Resources, which was later renamed PPL Energy. In 1998, PPL acquired two Kentucky utilities, Louisville Gas & Electric and Kentucky Utilities, which operate as PPL's regulated utilities in Kentucky.
In the 2000s, PPL continued to expand its operations. In 2002, it acquired the distribution business of Western Power Distribution in South Wales and South West England. This marked PPL's entry into the international energy market. In 2010, PPL acquired E.ON U.S., the parent company of Louisville Gas & Electric and Kentucky Utilities, for $7.6 billion.
Operations
PPL operates through three main segments: PPL Electric Utilities, which provides electricity distribution and transmission services to customers in Pennsylvania; Kentucky Regulated, which includes the operations of Louisville Gas & Electric and Kentucky Utilities; and U.K. Regulated, which includes PPL's regulated electricity distribution operations in the United Kingdom.
PPL's power plants use a variety of fuel sources, including coal, natural gas, oil, nuclear, and hydroelectric. The company also has a small amount of renewable energy capacity in the form of solar and wind power.
Financials
PPL Corporation is a publicly traded company listed on the New York Stock Exchange. Its revenues are derived primarily from the sale of electricity to retail customers and from the sale of electricity and capacity to wholesale customers.