-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, F8ltFKyWeWJ1j6z+1iJL9ph3feUW+ddQkPPg0D4OCONjBB9lCBy20dpmB+XGmRlJ YyQdU8XqZ5We5AvwDPal8Q== 0000922224-10-000024.txt : 20100415 0000922224-10-000024.hdr.sgml : 20100415 20100415140625 ACCESSION NUMBER: 0000922224-10-000024 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100415 ITEM INFORMATION: Other Events FILED AS OF DATE: 20100415 DATE AS OF CHANGE: 20100415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL Corp CENTRAL INDEX KEY: 0000922224 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 232758192 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11459 FILM NUMBER: 10751596 BUSINESS ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 BUSINESS PHONE: 610-774-5151 MAIL ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 FORMER COMPANY: FORMER CONFORMED NAME: PPL CORP DATE OF NAME CHANGE: 20000214 FORMER COMPANY: FORMER CONFORMED NAME: PP&L RESOURCES INC DATE OF NAME CHANGE: 19941123 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL ENERGY SUPPLY LLC CENTRAL INDEX KEY: 0001161976 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 000000000 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32944 FILM NUMBER: 10751597 BUSINESS ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101 BUSINESS PHONE: 610.774.5151 MAIL ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101 8-K 1 form8k.htm FORM 8K form8k.htm
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):  April 15, 2010

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 March 30, 2010, the Montana Supreme Court issued its decision in PPL Montana, LLC vs. State of Montana, affirming in pertinent part the June 2008 decision of the Montana First Judicial District Court that PPL Montana, LLC (“PPL Montana”) was liable to make lease payments and pay other compensation to the State of Montana for its hydroelectric facilities’ use and occupancy of streambeds underlying certain rivers in Montana.  As previously reported, the District Court awarded the State of Montana compensation of approximately $35 million for use of the streambeds for the period from December 1999, the date of PPL Montana’s acquisition of the hydroelectric facilities, through 2006, and approximately $6 million in compensation for such use du ring 2007.  Additionally, the District Court deferred to the Montana State Land Board responsibility to establish the amount of annual lease payments due beginning in 2008 and for future years.

At December 31, 2009, PPL Corporation had recorded a loss accrual of $9 million with respect to this contingency.  Based on the Montana Supreme Court’s decision, PPL Montana expects to increase its loss accrual by approximately $56 million in the first quarter of 2010 (to a total of approximately $65 million) to reflect the full amount of the District Court’s original award, together with interest at the statutorily mandated rate on the amount of the District Court award from the date of that decision to the date of the Montana Supreme Court decision, plus estimates of the amounts of annual lease payments from January 1, 2008 through March 31, 2010. Approximately $54 million of the increased loss accrual, which is related to periods prior to 2010, is expected to be reported by PPL Corporation for the first quarter of 2010 as a special item after-tax charge of 9 cents per share.

PPL Corporation continues to believe that the decisions of the District Court and Montana Supreme Court in this matter are erroneous, and is evaluating its next steps in this matter.


 
 
 


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:  April 15, 2010
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