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 29, 2009

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
1-32944	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

On May 29, 2009, PPL Corporation (“PPL” or the “Company”) issued a press release announcing that its generation subsidiary has signed a definitive agreement to sell its Long Island generation business to J-POWER USA Development Co., Ltd. for approximately $135 million plus working capital.  The business consists of a 79.9 megawatt, oil-fired electric generation facility located in Brookhaven, New York, a 79.9 megawatt, natural-gas-fired electric generation facility located in Brentwood, New York and related tolling agreements with Long Island Power Authority.  Completion of the sale is subject to customary conditions and the receipt of necessary state and federal regulatory and other consents and approvals.  Closing of the sale is expected by the end of 2009.  PPL expects to take a special after-tax charge in the second quarter of 2009 in the range of $0.09 to $0.12 per share, but following completion of the sale PPL expects its cash flow to be enhanced and for the effect of the sale to be modestly accretive to the Company’s earnings. PPL is not changing its current 2009 forecast of earnings from ongoing operations as a result of the sale.

A copy of the press release is attached as Exhibit 99.1 and 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 29, 2009, announcing a definitive agreement for the sale of PPL’s Long Island generation business to J-POWER USA Development Co., Ltd.

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 29, 2009

EX-99.1

Exhibit 99.1

Contact: For news media – Dan McCarthy, 610-774-5758 For financial analysts – Joseph P. Bergstein, 610-774-5609

PPL agrees to sell Long Island generation business to J-POWER USA

ALLENTOWN, Pa. (May 29, 2009) — PPL Corporation (NYSE: PPL) announced on Friday (5/29) that its generation subsidiary has signed a definitive agreement to sell its Long Island generation business to J-POWER USA Development Co., Ltd. for approximately $135 million plus working capital, subject to the receipt of various state and federal regulatory approvals and consents.

The business consists of PPL Edgewood Energy, LLC and PPL Shoreham Energy, LLC, which own, respectively, the Edgewood generating facility, a 79.9-megawatt natural gas-fired electric generation facility in Brentwood, N.Y.; and the Shoreham generating facility, a 79.9-megawatt oil-fired electric generation facility in Brookhaven, N.Y. The output of both facilities is fully contracted to the Long Island Power Authority.

“These have been good assets for us but are not core to our concentrated generation positions in the PJM Interconnection and in the Northwest,” said William H. Spence, PPL’s executive vice president and chief operating officer.

The sale is expected to close later this year, following receipt of necessary consents and regulatory approvals. Spence said the sale is expected to result in a special after-tax charge in the range of $0.09 to $0.12 per share in the second quarter of 2009 but is expected to enhance PPL’s cash flow position and to be modestly accretive to the company’s earnings following the close of the transaction. PPL is not changing its current 2009 forecast of earnings from ongoing operations as a result of the sale.

RBS Securities, Inc. acted as exclusive financial advisor to PPL in connection with the sale.

PPL Corporation, headquartered in Allentown, Pa., controls or owns more than 12,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to about 4 million customers in Pennsylvania and the United Kingdom. More information is available at www.pplweb.com.

J-POWER USA Development Co., Ltd. is a wholly owned subsidiary of J-POWER North America Holdings Co., Ltd. which is a wholly owned subsidiary of Electric Power Development Co., Ltd. (“J-POWER”) with headquarters located in Tokyo, Japan. J-POWER USA has a long-term strategy to acquire, develop, finance and operate power generation facilities in North America and has assembled a team of power professionals headquartered in the greater Chicago area with a proven track record of completed acquisitions and business success in the IPP sector.

J-POWER stock is listed on the Tokyo Stock Exchange. In the fiscal year ending March 2009, J-POWER had revenues of U.S. $7.2 billion and assets of approximately U.S. $20.4 billion. With approximately 20,000 megawatts of net ownership, J-POWER is one of the world’s largest independent generators of electricity, owning 67 power plants in Japan with total generation of approximately 17,000 megawatts of installed capacity, and 21 international IPP investments totaling approximately 3,000 megawatts of net installed capacity.

#     #     #

Certain statements contained in this news release, including statements with respect to future earnings, cash flow 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: market demand and prices for energy, capacity and fuel; competition; accounting requirements; operating performance and costs of plants and other facilities; political, regulatory or economic developments and conditions; disposition proceeds; and regulatory approvals. 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.