PPL Corporation filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
$PPL
Electric Utilities: Central
Utilities
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): May 15, 2025
Commission File Number | Registrant; State of Incorporation; Address and Telephone Number | IRS Employer Identification No. | |||||||||||||||
| (Exact name of Registrant as specified in its charter) | |||||||||||||||||
| (Exact name of Registrant as specified in its charter) | |||||||||||||||||
| (Exact name of Registrant as specified in its charter) | |||||||||||||||||
| Kentucky and Virginia | |||||||||||||||||
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 | ||||||
Junior Subordinated Notes of PPL Capital Funding, Inc. | ||||||||
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 | |||||
| Louisville Gas and Electric Company | |||||
| Kentucky Utilities Company | |||||
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 | ||||
| ☐ | Louisville Gas and Electric Company | ||||
| ☐ | Kentucky Utilities Company | ||||
Section 8 - Other Events
Item 8.01 Other Events
On May 15, 2025, Louisville Gas and Electric Company ("LG&E") and Kentucky Utilities Company ("KU", and collectively with LG&E, the "Companies") announced that they anticipate filing requests with the Kentucky Public Service Commission ("KPSC") on or after May 30, 2025 for increases in annual electricity revenues at LG&E and KU and annual gas revenues at LG&E.
The anticipated applications request an increase in annual electricity revenues of approximately $105 million and $226 million at LG&E and KU, respectively, and an increase in annual gas revenues of approximately $60 million at LG&E. The proposed revenue increases would be an increase of 8.3% and 11.5% in electricity revenues at LG&E and KU, respectively, and an increase of 14.0% in gas revenues at LG&E.
The applications will be based on a forecasted test year of January 1, 2026 through December 31, 2026 and a requested authorized return-on-equity of 10.95%. Subject to KPSC approval, the requested rates would become effective on January 1, 2026.
The Companies cannot predict the outcome of the proceedings. The Companies anticipate a ruling from the KPSC during the fourth quarter of 2025.
The KPSC proceedings have been designated as Case No. 2025-00114 for LG&E and Case No. 2025-00113 for KU.
A copy of the Companies' press release is filed as an exhibit to this report.
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 the PPL Corporation and the Companies 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 and natural gas; political, regulatory or economic conditions in states and regions where the Companies conduct business; final negotiated terms and conditions in any prospective contracts and the progress of actual construction, purchase or installation of assets or operations. All forward-looking statements should be considered in light of these important factors and in conjunction with PPL Corporation's and the Companies' Form 10-K and other reports on file with the Securities and Exchange Commission.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
| (d) | Exhibits | ||||||||||||||||
99.1 - | Press Release dated May 15, 2025 of Louisville Gas and Electric Company and Kentucky Utilities Company. | ||||||||||||||||
| 104 - | Cover Page Interactive Data File (the Cover Page Interactive Data File is embedded within the Inline XBRL document). | ||||||||||||||||
SIGNATURE
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 | |||||||||||
| LOUISVILLE GAS AND ELECTRIC COMPANY | |||||||||||
| By: | /s/ Christopher M. Garrett | ||||||||||
| Christopher M. Garrett Vice President-Finance and Accounting | |||||||||||
| KENTUCKY UTILITIES COMPANY | |||||||||||
| By: | /s/ Christopher M. Garrett | ||||||||||
| Christopher M. Garrett Vice President-Finance and Accounting | |||||||||||
Dated: May 15, 2025