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):  May 24, 2007

Commission File Number	Registrant; State of Incorporation; Address and Telephone Number	IRS Employer Identification No.
1-11459	PPL Corporation (Exact name of Registrant as specified in its charter) (Pennsylvania) Two North Ninth Street Allentown, PA  18101-1179 (610) 774-5151	23-2758192
333-74794	PPL Energy Supply, LLC (Exact name of Registrant as specified in its charter) (Delaware) Two North Ninth Street Allentown, PA  18101-1179 (610) 774-5151	23-3074920

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))

Section 8 - Other Events

Item 8.01 Other Events

Sale of El Salvadoran Business

On May 24, 2007, PPL Corporation (“PPL”) issued a press release announcing completion of the previously announced sale of its 86.4 percent interest in an El Salvadoran electricity delivery business, Distribuidora de Electricidad Del Sur, S.A. de C.V., for $180 million through a stock purchase agreement.  PPL expects to record a special after-tax gain of $88 to $93 million, or 22 to 23 cents per share, on the sale in the second quarter of 2007. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.

Agreement to Sell Telecommunications Subsidiary

Also on May 24, 2007, PPL issued a press release announcing a definitive agreement to sell its telecommunications subsidiary, PPL Telcom, LLC (“PPL Telcom”), to Communications Infrastructure Investments.  Under the terms of the agreement, the purchaser would acquire PPL Telcom for an enterprise value of about $60 million, which includes the assumption of $10 million of debt. PPL expects to realize $50 million in net proceeds from the transaction.  PPL expects the sale to close by the end of the third quarter of 2007 following regulatory approvals. As a result of the sale, PPL expects to take an additional special after-tax charge in the second quarter of 2007 of $3 to $4 million, or 1 cent per share. In the first quarter of 2007, PPL recorded a special after-tax impairment charge of $18 million, or 5 cents per share, related to the planned sale of this business.  A copy of the press release is attached as Exhibit 99.2 and is incorporated herein by reference.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d)	Exhibits
	99.1 -	Press release, dated May 24, 2007, announcing completion of the sale of PPL’s El Salvadoran business.
	99.2 -	Press release, dated May 24, 2007, announcing a definitive agreement for the sale of PPL’s telecommunications subsidiary.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

PPL CORPORATION
By:	/s/ Paul A. Farr
	Paul A. Farr Executive Vice President and Chief Financial Officer

PPL ENERGY SUPPLY, LLC
By:	/s/ Paul A Farr
	Paul A. Farr Executive Vice President

Dated:                      May 25, 2007

EX-99.1

Exhibit 99.1

www.pplnewsroom.com

Contact:     For news media – George Biechler, 610-774-5997

For financial analysts – Joe Bergstein, 610-774-5609

PPL Completes Sale of El Salvadoran Business

ALLENTOWN, Pa. (May 24, 2007) -- PPL Corporation (NYSE: PPL) has completed the sale of its controlling interest in an El Salvadoran electricity delivery business to Ashmore Energy International (AEI) for $180 million through a stock purchase agreement.

AEI has indirectly acquired PPL’s 86.4 percent interest in Distribuidora de Electricidad Del Sur, S.A. de C.V. (DelSur), which is headquartered in San Salvador and has 291,000 customers in the central and southern regions of the country.

As previously announced, PPL expects to record a special after-tax earnings gain in the range of $88 million to $93 million, or 22 to 23 cents per share, on the sale in the second quarter of 2007. The company has confirmed that the sale of its combined Latin American portfolio is expected to result in a special after-tax earnings gain in 2007, inclusive of special after-tax charges recorded in the first quarter related to the sale of the businesses.

Earlier this year, PPL announced its intention to sell all of its regulated electricity delivery businesses in Chile, El Salvador and Bolivia. In April, PPL agreed to sell its Bolivian businesses to a group that was organized by the local management team and that includes employees there. The sale of the Bolivian businesses is expected to close early this summer.

PPL, through its financial advisor, J.P. Morgan Securities, Inc., is proceeding with the auction process for the Chilean business, by far the largest of the three Latin American businesses. The company expects the Chilean asset sale to be completed in 2007.

PPL Corporation, headquartered in Allentown, Pa., controls more than 11,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to more than 5 million customers in Pennsylvania, the United Kingdom and Latin America. More information is available at www.pplweb.com.

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Certain statements contained in this news release, including statements with respect to future earnings impacts and business disposition, are "forward-looking statements" within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements involve 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: political, regulatory or economic developments and conditions in foreign countries; capital markets; disposition proceeds; and foreign exchange rates. Any such forward-looking statements should be considered in light of such factors and in conjunction with PPL Corporation's Form 10-K and other reports on file with the Securities and Exchange Commission.

Note to Editors: Visit our media Web site at www.pplnewsroom.com for additional news and background about PPL Corporation.

EX-99.2

Exhibit 99.2

www.pplnewsroom.com

Contact:  Dan McCarthy, 610-774-5758

PPL Reaches Agreement to Sell Its Telecommunication Subsidiary

ALLENTOWN, Pa. (May 24, 2007) -- PPL Corporation (NYSE: PPL) announced Thursday (5/24) that it has reached a definitive agreement to sell its PPL Telcom subsidiary to Communications Infrastructure Investments of Boulder, Colo.

Under the terms of the agreement, CII is acquiring PPL Telcom for an enterprise value of about $60 million, which includes the assumption of $10 million of debt. PPL expects to realize $50 million in net proceeds from the transaction.

PPL Telcom provides broadband connectivity for telecommunication companies, wireless and Internet service providers, and large businesses and institutions. Located in the mid-Atlantic region, PPL Telcom’s network has more than 4,000 route miles of fiber with advanced optical systems and provides service to customers throughout the northeast corridor from New York to Washington, D.C.

PPL had announced earlier this month that it planned to sell the telecommunication operation to further sharpen its strategic focus on its core businesses of energy supply and delivery.

“We are very pleased to be able to reach this agreement with CII, whose principals have extensive experience in telecom operations,” said Paul T. Champagne, president of PPL Energy Services Group, parent company of PPL Telcom. “We also are pleased that CII intends to maintain a presence in the Lehigh Valley.”

CII is a holding company — owned by Columbia Capital, M/C Venture Partners, Oak Investment Partners, Battery Ventures and Centennial Ventures — organized to acquire and support long-term development of fiber-based bandwidth solutions-oriented businesses.

“PPL Telcom has an excellent reputation with its customers. CII’s priority is to provide support to Telcom’s employees so that we together can continue this tradition,” said Dan Caruso, chief executive officer and co-founder of CII.

PPL expects the sale to close by the end of the third quarter following regulatory approvals.

As a result of the sale, PPL expects to take an additional special after-tax charge in the second quarter of $3 million to $4 million, or 1 cent per share. In the first quarter, the company recorded a special after-tax impairment charge of $18 million, or 5 cents per share, related to the planned sale of this business. The company said the PPL Telcom sale would have no effect on PPL’s 2007 forecast of earnings from ongoing operations.

UBS Investment Bank acted as PPL’s exclusive financial advisor for this transaction.

PPL Corporation, headquartered in Allentown, Pa., controls more than 11,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to more than 5 million customers in Pennsylvania, the United Kingdom and Latin America. More information is available at www.pplweb.com.

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Certain statements contained in this news release, including statements with respect to future earnings impacts and business disposition, are "forward-looking statements" within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements involve 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: political, regulatory or economic developments; receipt of necessary governmental approvals; and disposition proceeds. Any such forward-looking statements should be considered in light of such factors and in conjunction with PPL Corporation's Form 10-K and other reports on file with the Securities and Exchange Commission.

Note to Editors: Visit our media Web site at www.pplnewsroom.com for additional news and background about PPL Corporation.