8-K

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):  March 3, 2023

 

Commission File Number	Registrant; State of Incorporation; Address and Telephone Number				IRS Employer Identification No.
1-11459	PPL Corporation				23-2758192
	(Exact name of Registrant as specified in its charter)
	Pennsylvania
	Two North Ninth Street
	Allentown,		PA	18101-1179
	(610)	774-5151
1-2893	Louisville Gas and Electric Company				61-0264150
	(Exact name of Registrant as specified in its charter)
	Kentucky
	220 West Main Street
	Louisville,		KY	40202-1377
	(502)	627-2000
1-3464	Kentucky Utilities Company				61-0247570
	(Exact name of Registrant as specified in its charter)
	Kentucky and Virginia
	One Quality Street
	Lexington,		KY	40507-1462
	(502)	627-2000

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
Common Stock of PPL Corporation	PPL	New York Stock Exchange
Junior Subordinated Notes of PPL Capital Funding, Inc.
2007 Series A due 2067	PPL/67	New York Stock Exchange

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 7 – Regulation FD Disclosure (PPL Corporation)

Item 7.01. Regulation FD Disclosure

Louisville Gas and Electric Company ("LG&E") and Kentucky Utilities Company ("KU" and collectively with LG&E, the "Companies"), subsidiaries of PPL Corporation ("PPL"), sustained damage from extraordinary storms on March 3, 2023. PPL does not expect that the cost of the storms' damage and related restoration and repair activities will significantly affect its business outlook and reaffirms at this time its previously provided 2023 earnings forecast as discussed in its Current Report on Form 8-K and exhibits filed on February 17, 2023.

Section 8 – Other Events (LG&E and KU)

Item 8.01. Other Events

On Friday, March 3, 2023, LG&E and KU experienced significant rain and wind storm activity in their service territories, resulting in substantial damage to certain of the Companies' assets. Cumulatively, the storms impacted over 380,000 of the Companies’ electric customers and involved approximately 3,300 downed power lines and 700 utility poles. As of Wednesday, March 8, 2023, approximately 16,000 customers remained affected.

The Companies' preliminary estimate of the cost of the storm's damage and of related restoration and repair activities, including capital and operations and maintenance costs, is approximately $80 million to $100 million; however, actual costs will not be known until all repairs are completed. The Companies estimate that approximately 60% of the costs will be incurred at KU and 40% at LG&E. Of these amounts, approximately 75% are expected to be capitalized and approximately 25% are expected to be operations and maintenance expenses. The Companies expect to request from the Kentucky Public Service Commission ("KPSC") the authority to treat the extraordinary storm operations and maintenance expenses as a regulatory asset and defer such costs for accounting purposes. Historically, the KPSC has granted such requests in similar circumstances with respect to past storms, but there can be no assurance that they will do so in this case. If approved, the Companies anticipate requesting recovery of the expenses over a suitable period in a subsequent rate proceeding. The Companies will continue to repair damage caused by the storm and to evaluate the storm's cost and applicable accounting and regulatory treatments, but cannot predict whether such costs will be recovered through their rates.

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 PPL 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; and final negotiated terms and conditions in any prospective contracts and the progress of actual repairs, purchase or installation of assets or operations. All forward-looking statements should be considered in light of these important factors and in conjunction with the Companies’ Form 10-K and other reports on file with the Securities and Exchange Commission.

As provided in General Instruction B.2 of Form 8-K, the information contained in Item 7.01 of this Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934,

as amended, nor shall any such information be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURES

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:  March 8, 2023

XML

Document and Entity Information Document and Entity Information	Mar. 03, 2023
Document Entity Information [Line Items]
Amendment Flag	false
Entity Emerging Growth Company	false
Written Communications	false
Document Type	8-K
Entity File Number	1-11459
Entity Registrant Name	PPL Corporation
Entity Tax Identification Number	23-2758192
Entity Incorporation, State or Country Code	PA
Entity Address, Address Line One	Two North Ninth Street
Entity Address, City or Town	Allentown,
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18101-1179
City Area Code	(610)
Local Phone Number	774-5151
Document Period End Date	Mar. 03, 2023
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Central Index Key	0000922224
Common Stock [Member]
Document Entity Information [Line Items]
Title of 12(b) Security	Common Stock of PPL Corporation
Trading Symbol	PPL
Security Exchange Name	NYSE
2007 Series A Due 2067 [Member]
Document Entity Information [Line Items]
Title of 12(b) Security	2007 Series A due 2067
Trading Symbol	PPL/67
Security Exchange Name	NYSE
Louisville Gas And Electric Co [Member]
Document Entity Information [Line Items]
Amendment Flag	false
Entity Emerging Growth Company	false
Entity File Number	1-2893
Entity Registrant Name	Louisville Gas and Electric Company
Entity Tax Identification Number	61-0264150
Entity Incorporation, State or Country Code	KY
Entity Address, Address Line One	220 West Main Street
Entity Address, City or Town	Louisville,
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40202-1377
City Area Code	(502)
Local Phone Number	627-2000
Entity Central Index Key	0000060549
Kentucky Utilities Co [Member]
Document Entity Information [Line Items]
Amendment Flag	false
Entity Emerging Growth Company	false
Entity File Number	1-3464
Entity Registrant Name	Kentucky Utilities Company
Entity Tax Identification Number	61-0247570
Entity Incorporation, State or Country Code	KY
Entity Incorporation, State or Country Code	Virginia
Entity Address, Address Line One	One Quality Street
Entity Address, City or Town	Lexington,
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40507-1462
City Area Code	(502)
Local Phone Number	627-2000
Entity Central Index Key	0000055387