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):  April 28, 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

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 7 - Regulation FD

Item 7.01 Regulation FD Disclosure

On April 28, 2010, PPL Corporation (“PPL” or the “Company”) issued a press release (“Press Release”) announcing that it had entered into a definitive agreement (“Agreement”) to acquire from a subsidiary of E.ON AG all of the equity interests of E.ON US, LLC, a Kentucky limited liability company that is the sole owner of Louisville Gas & Electric Company and Kentucky Utilities Company.  A copy of the Company’s press release announcing the Agreement is furnished herewith as Exhibit 99.1.

In its Press Release, PPL also announced that on April 29, 2010 it would conduct a live conference call and webcast of a presentation by the Company’s management concerning its announcement of the Agreement.  A copy of the presentation slides to be used in connection with the Company’s April 29, 2010 conference call and webcast is furnished herewith as Exhibit 99.2.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

(d)	Exhibits
	99.1 -	Press Release, dated April 28, 2010, announcing PPL’s Agreement to acquire Louisville Gas & Electric Company and Kentucky Utilities Company.
	99.2 -	Slides to be used on the April 29, 2010 webcast announcing PPL’s Agreement to acquire Louisville Gas & Electric Company and Kentucky Utilities Company.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PPL CORPORATION
By:	/s/ Vincent Sorgi
	Vincent Sorgi Vice President and Controller

Dated:  April 29, 2010

EX-99.1

Exhibit 99.1

Contact:	Media Contacts: PPL: Daniel J. McCarthy, 610-774-5758
	Investor Contacts: PPL: Joseph P. Bergstein, 610-774-5609

PPL Corporation to acquire Kentucky’s two major utilities

Transaction expands footprint and improves business mix

ALLENTOWN, Pa. (April 28, 2010) -- PPL Corporation (NYSE: PPL) and E.ON AG today announced a definitive agreement under which PPL will acquire E.ON U.S. LLC, the parent company of Kentucky’s two major utilities, Louisville Gas & Electric Company and Kentucky Utilities Company. These high-performing utilities serve 1.2 million customers, principally in Kentucky.

PPL is acquiring E.ON U.S. for $7.625 billion and will receive tax benefits with a present value of about $450 million as part of the transaction. Taking into account the tax benefits, the effective purchase price is $7.175 billion.

The acquisition will transform PPL into a more geographically diverse utility holding company with combined annual revenues of about $10 billion, serving nearly 5 million electricity customers in the United States and the United Kingdom, and owning or controlling about 20,000 megawatts of U.S. electricity generating capacity.

“This is a transformational, value-rich transaction, which will immediately improve PPL’s business mix by adding high-performing regulated utility operations to our already strong combination of excellent regulated businesses and our high-value competitive generation fleet,” said James H. Miller, PPL’s chairman, president and chief executive officer.

“We are adding scale, creating a much stronger and more diversified enterprise while providing additional opportunities for regulated-business growth and, importantly, retaining the upside benefits of our competitive fleet when wholesale power market prices improve,” said Miller. “Clearly, for PPL shareowners, this is the right deal at the right time.”

The transaction, Miller said, takes advantage of “a rare opportunity to add to PPL the experience, talent and values of an organization with a proven track record of cost-effective operations, a strong focus on customer service and constructive regulatory relationships.”

Miller said PPL intends to operate the company as a wholly owned subsidiary of PPL Corporation, retaining the headquarters in Louisville, as has been the case with E.ON AG ownership. Customers will continue to be served by LG&E and KU, with operational headquarters in Louisville and Lexington, respectively.

“We are very pleased to join the excellent management team and employees of PPL, who operate one of the most effective and customer-friendly utilities in the United States and the U.K.,” said Vic Staffieri, chairman, chief executive officer and president of E.ON U.S.

PPL, Miller said, is committed to providing the highest quality service to Kentucky customers and does not anticipate any change in Kentucky employment levels as a result of this transaction.

PPL will pay for the transaction with $6.7 billion of cash and through the assumption of $925 million of tax-exempt debt. PPL has committed bridge financing in place from Bank of America Merrill Lynch and Credit Suisse. Miller said the permanent financing plan will include a combination of common equity, first mortgage bonds, corporate debt, high-equity-content securities and cash on hand. Proceeds from the sale of PPL non-core assets may be explored as a potential to fund a portion of the transaction.

Miller said the transaction is anticipated to be modestly dilutive in the first full year and accretive to earnings by 2013.

“Adding the proven operations of LG&E and KU in the constructive Kentucky regulatory framework will enhance the overall business risk profile of PPL, which we believe will lead to improved access to capital, a stronger credit profile and solid, investment-grade credit ratings in each of our businesses,” said Miller.

Miller also said that the company expects to announce next week (May 6) reported earnings of $0.66 per share for the first quarter of 2010 compared with $0.64 per share for the first quarter of 2009, and earnings from ongoing operations of $0.94 per share for the first quarter of 2010 compared with $0.60 per share for the first quarter of 2009.

At that time, he said, the company also will reaffirm its 2010 forecast of earnings from ongoing operations of $3.10 to $3.50 per share and for reported earnings of $2.82 to $3.22 per share (reflecting special items recorded through March 31, 2010). These forecasts do not reflect any impact of this transaction or the related financings.

The transaction is expected to close by the end of this year. It requires approvals by state regulators in Kentucky, Virginia and Tennessee and by the Federal Energy Regulatory Commission as well as the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. No shareowner approvals are necessary for the transaction. Credit Suisse and Bank of America Merrill Lynch served as PPL’s financial advisers. Simpson Thacher & Bartlett, LLP, served as legal adviser.

E.ON U.S., through LG&E and KU, provides electricity service to 941,000 customers, mostly in the state of Kentucky, with some customers in Virginia and Tennessee. LG&E also provides natural gas delivery service to 321,000 customers in Kentucky. E.ON U.S. has about 3,100 employees and owns and operates about 8,000 megawatts of regulated electric generation capacity.

PPL Corporation, headquartered in Allentown, Pa., owns or controls nearly 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. The company has about 10,000 employees. See the electronic version of this news release at www.pplweb.com for a fact sheet for the combined companies.

# # #

Conference Call and Webcast

PPL invites interested parties to listen to the live webcast of management’s teleconference with financial analysts about the acquisition in New York City at 8 a.m. Thursday (4/29). The meeting is available online live, in audio format, along with slides of the presentation, on PPL’s Web site: www.pplweb.com. The webcast will be available for replay on the site for 30 days. Interested individuals also can access the live conference call via telephone at 1-888-396-2386, passcode PPL.

#     #     #

Statements contained in this press release, including statements with respect to future events and their timing, including the acquisition by PPL Corporation of E.ON U.S. LLC and its subsidiaries Louisville Gas & Electric Company and Kentucky Utilities Company (collectively, the “E.ON Entities”), the expected results of operations of any of the E.ON Entities or PPL Corporation both before or following PPL Corporation’s acquisition of the E.ON Entities, as well as statements as to future earnings, energy prices, margins and sales, growth, revenues, expenses, cash flow, credit profile, ratings, financing, asset disposition, marketing performance, hedging, regulation, corporate strategy and generating capacity and performance, are “forward-looking statem ents” 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 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: capital market conditions and decisions regarding capital structure; the market prices of equity securities and the impact on pension income and resultant cash funding requirements for defined benefit pension plans; the securities and credit ratings of PPL Corporation and its subsidiaries; stock price performance; receipt of necessary government permits, approvals, rate relief and regulatory cost recovery; market demand and prices for energy, capacity and fuel; weather conditions affecting customer energy usage and operating costs; competition in power markets; the effect of any business or industry restructuring; the profitability and liquidity of PPL Corporation, the E.ON Entities and either of their subsidiaries; new accounting requirements or new interpretations or applications of existing requirements; operating performance of plants and other facilities; environmental conditions and requirements and the related costs of compliance, including environmental capital expenditures and emission allowance and other expenses; system conditions and operating costs; development of new projects, markets and technologies; performance of new ventures; asset acquisitions and dispositions; any impact of hurricanes or other severe weather on our business, including any impact on fuel prices; the impact of state, federal or foreign investigations applicable to PPL Corporation, the E.ON Entities and either of their subsidiaries; the outcome of litigation against PPL Corporation, the E.ON Entities and either of the ir subsidiaries; political, regulatory or economic conditions in states, regions or countries where PPL Corporation, the E.ON Entities and either of their subsidiaries conduct business, including any potential effects of threatened or actual terrorism or war or other hostilities; foreign exchange rates; new state, federal or foreign legislation, including new tax or environmental legislation or regulation; and the commitments and liabilities of PPL Corporation, the E.ON Entities and each of their subsidiaries. Any such forward-looking statements should be considered in light of such important factors and in conjunction with PPL Corporation’s Form 10-K and other reports on file with the Securities and Exchange Commission.

“Earnings from ongoing operations” should not be considered as an alternative to reported earnings, or net income attributable to PPL, which is an indicator of operating performance determined in accordance with generally accepted accounting principles (GAAP). PPL believes that “earnings from ongoing operations,” although a non-GAAP financial measure, is also useful and meaningful to investors because it provides them with management’s view of PPL’s fundamental earnings performance as another criterion in making their investment decisions. PPL’s management also uses “earnings from ongoing operations” in measuring certain corporate performance goals. Other companies may use different measures to present financial performance.

“Earnings from ongoing operations” is adjusted for the impact of special items. Special items include:

·   The impact of energy-related economic activity (as discussed below).

·   Foreign currency-related economic hedges.

·   The impact of sales of assets not in the ordinary course of business.

·   Impairment charges (including impairments of securities in the company’s nuclear decommissioning trust).

·   Workforce reduction and other restructuring impacts.

·   Other charges or credits that are, in management’s view, not reflective of the company’s ongoing operations.

Energy-related economic activity includes the changes in fair value of positions used to hedge a portion of the economic value of PPL’s generation assets, load-following and retail activities. This economic value is subject to changes in fair value due to market price volatility of the input and output commodities (e.g., fuel and power). Also included in this special item are the ineffective portion of qualifying cash flow hedges and the premium amortization associated with options classified as economic activity. These items are included in ongoing earnings over the delivery period of the item that was hedged or upon realization. Management believes that adjusting for such amounts provides a better matching of earnings from ongoing operations to the actual amounts settled for PPL’s underlying hedged assets .

The following table provides details of all special items and the reconciliation of earnings from ongoing operations to reported earnings.

#     #     #

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

PPL Corporation
Reconciliation of Earnings from Ongoing Operations to Reported Earnings
Preliminary*
(Unaudited)
1st Quarter 2010	($ millions)			(per share)**
Earnings from Ongoing Operations	$	357		$	0.94
Special Items
Energy-related economic activity		(65	)		(0.16	)
Impairments		(2	)		(0.01	)
Other:
Montana hydroelectric litigation		(32	)		(0.09	)
Health Care Reform - tax impact		(8	)		(0.02	)
Total Special Items		(107	)		(0.28	)
Reported Earnings	$	250		$	0.66
1st Quarter 2009
Earnings from Ongoing Operations	$	226		$	0.60
Special Items
Energy-related economic activity		50			0.13
Impairments		(22	)		(0.06	)
Workforce reduction		(13	)		(0.03	)
Total Special Items		15			0.04
Reported Earnings	$	241		$	0.64
*PPL Corporation will report its first-quarter 2010 earnings on May 6, 2010. Such amounts may differ from the amounts reflected on this preliminary schedule.
**Based on diluted earnings per share.

EX-99.2

Value | Balance | Growth
Acquisition of E.ON U.S.

April 29, 2010

© PPL Corporation 2010

Exhibit 99.2

© PPL Corporation 2010

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Any statements made in this presentation about future operating
results or other future events are forward-looking statements under
the Safe Harbor Provisions of the Private Securities Litigation Reform
Act of 1995. Actual results may differ materially from such forward-
looking statements. A discussion of factors that could cause actual
results or events to vary is contained in the Appendix to this
presentation and in the Company’s SEC filings.

Cautionary Statements and Factors
That May Affect Future Results

© PPL Corporation 2010

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Agenda

IntroductionJim MillerChairman, President and CEO, PPL

E.ON U.S. OverviewVic StaffieriCEO, E.ON U.S.

Transaction Overview and TimingBill SpenceEVP and COO, PPL

Concluding RemarksJim MillerChairman, President and CEO, PPL

Q&A

© PPL Corporation 2010

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§Transformative transaction that rebalances business mix

§Consistent with our stated strategy to grow regulated earnings

§Creates a stronger, more diversified enterprise with increased
earnings visibility

§Strengthens solid investment grade credit profile

§Enhances regulated growth opportunities

§Retains significant upside to power market recovery
through PPL’s existing competitive generation fleet

Combination Creates Significant Value

© PPL Corporation 2010

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§Best-in-class utility franchises with progressive regulation

§Very strong management team; strong track record of execution

§Significant rate base growth profile with high degree of near-term
visibility

§Lowest rates in the region

§Track record of timely regulatory approvals

§Attractive valuation:

–Purchase price of $7.625 billion includes approximately
$450 million of tax attributes

–Value net of tax attributes is $7.175 billion

–Implied multiples are well within the range of where fully-regulated
peers are valued

–Not dependent upon synergies

A Compelling Opportunity

© PPL Corporation 2010

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EBITDA

(1) Based on mid-point of 2010 forecast.

Significantly and Immediately
Rebalances Business Mix

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Note:Represents capitalization for E.ON US since LG&E and KU rate constructs are based on capitalization.

(1)Figures based on assumed exchange rate of $1.60 / GBP.

($ in billions)

2011E - 2014E CAGR:7.1%

Increased Scale with Continued Growth

© PPL Corporation 2010

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($ in billions)

(1)Based on PPL stock price as of 4/27/2010.

(2)Represents utility capitalization for E.ON US since LG&E and KU rate constructs are based on
capitalization.

(3)As of 12/31/2009.

(4)Capacity pro forma for completion of Trimble County 2.

Pro Forma Structure

PPL Corporation

WPD

PPL
Electric
Utilities

PPL
Energy
Supply

E.ON U.S.

(2)

Strengthened Utility Platform

© PPL Corporation 2010

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§J.D. Power study of business
customer satisfaction among
Eastern U.S. utilities

–Ranked 1st 8 times in the
past 11 years

–Total of 16 awards, more
than any other electric
utility in the country

§J.D. Power study of residential
customer satisfaction among
Eastern U.S. utilities

–Earned top honor 8 times

§Field sites certified as Star sites
under the OSHA Voluntary
Protection Program

§J.D. Power study of residential
customer satisfaction among
Midwest U.S. utilities

–Ranked 1st 7 times in the
past 10 years

§KU received highest ranking in
JD Power’s 2010 electric utility
business customer satisfaction
study

§Winner of prestigious EEI
Emergency Recovery Award for
outstanding service restoration
during January 2009 ice storm

An unparalleled commitment to customer service, reliability and safety

§UK Customer Excellence Award
(18 consecutive years)

§4 years with no customer
complaints to regulator

§Best reliability among 14
distribution companies

§Maximum performance bonuses
for surpassing regulatory targets

§Most capital efficient in sector

§Awarded $240 mm revenue
bonus in most recent five-year
rate review period for
operational performance

Best-in-Class Utility Operations

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§Complementary cultures

§Strong addition to the management team

§Customer commitments

§Regulatory relationships

§Headquarters and management of E.ON U.S., LG&E
and KU remain in Kentucky

LG&E and KU Will Be Important
Parts of PPL

© PPL Corporation 2010

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© PPL Corporation 2010

E.ON U.S. Overview

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E.ON U.S. Overview

§Vertically integrated utilities serving
2/3 of counties in Kentucky

§Small customer base in Virginia and
Tennessee

§Fuel, purchased power, gas supply
and environmental cost pass-
through

§No material non-regulated assets
or operations

§~8,100 MW of regulated generation

Louisville Gas & Electric

§Serves Louisville, KY and 16 surrounding counties

§396,000 electric customers

§321,000 gas customers

§$2.34 billion rate base ($487 million of which is gas)(1)

§2009 revenue of $1.28 billion(2)

Kentucky Utilities

§Based in Lexington, KY

§Serving 77 counties in KY and five in VA

§515,000 electric customers in Kentucky

§30,000 electric customers in Virginia

§$3.55 billion rate base(1)

§2009 revenue of $1.36 billion(2)

E.ON U.S.

(1)Figures per January 2010 KU and LG&E rate case filings (test year ending 10/31/09).

(2)Figures per KU and LG&E 2009 FERC Form 1 filings.

Electric service area

Gas service area

Electric and gas combined area

© PPL Corporation 2010

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(1)E.ON US cost adjusted upward to include CWIP changes over the five-year period.

(2)E.ON US cost adjusted upward to include $80 million of Value Delivery Team amortization costs
over the five-year period.

Source:FERC Form 1, E.ON US Corporate Development Analysis.

Note:The Triangle = 52 US electric holding company’s averages for 2004-2008 (only includes
companies competing in all 5 segments).

15 companies

15 companies

16 companies

4 companies

1 company

E.ON
US

4
Top Q

3
Top Q

2
Top Q

1
Top Q

0
Top Q

Only utility with top quartile cost performance in five major cost areas
over the 2004-2008 period

Top Quartile Cost Performance

© PPL Corporation 2010

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(¢/kilowatt hour)

Competitive Rates

2009 electric retail rate comparison

Source:Edison Electric Institute, typical bills and average rates report, winter 2010 (covers January 2009 through December 2009).

Note:The EEI report surveys approximately 90 electric utilities in the US.

(1)‘Midwest’ definition is the Reliability First Corporation area, which includes DE, IL, IN, KY, MD, MI, NJ, OH, PA WI, and WV.

Residential:7.267.5611.4411.72

Commercial:7.126.999.9010.03

Industrial:5.615.186.566.63

(1)

© PPL Corporation 2010

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Pending Rate Cases

§On January 29, 2010, LG&E and KU filed applications with the KPSC
requesting annual increases in base electric and gas rates

–Total request of $253 million

–Includes 11.5% requested ROE, 53% Equity

–Majority of request associated with investment and storm cost regulatory assets
previously approved by the KPSC

–Requested increases are based on an historic test year ended
October 31, 2009

§Procedural schedule issued and well underway

–Discovery phase nearing completion

–Company rebuttal testimony due May 28, 2010

–Public hearing scheduled for June 8, 2010

–Rate increases suspended until August 1, 2010

© PPL Corporation 2010

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Supportive and progressive regulation combined with competitive customer rates

Progressive and Constructive Regulation

Environmental Cost Recovery (“ECR”)

§Recovery of and return on environmental investment required as a result of coal
combustion reflected in bill two months after incurred

Construction Work In Progress (“CWIP”)

§History of including CWIP in ECR and base rates

Fuel Adjustment Clause (“FAC”)

§Variations in fuel costs and economic power purchases are reflected monthly in rates
charged to electric customers two months after incurred

Gas Supply Clause Adjustment (“GSC”)

§Cost of natural gas supply for LG&E Gas reflected in rates reset quarterly with
mechanisms to balance to actual costs and provide utility performance-based incentive

Demand Side Management (“DSM”)

§Concurrent recovery of DSM costs including lost revenue

Kentucky Rate Mechanisms:

© PPL Corporation 2010

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Strong Regulated Growth Profile

Capital expenditures

($ in millions)

Significant rate base growth opportunity driven by balanced capital
expenditures with realized ROEs ranging from 10-12% historically

Capitalization(1)

© PPL Corporation 2010

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© PPL Corporation 2010

Transaction Overview and Timing

© PPL Corporation 2010

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§Committed bridge financing for cash portion of purchase price

§Permanent financing to include debt, equity and high-equity-content
securities, and cash on hand

Estimated Closing

Financing

Pro Forma Profile

§PPL expects to maintain its existing dividend

§Strengthens credit position while maintaining investment-grade ratings

§Modestly dilutive in first full year, moving to earnings accretion by 2013

Regulatory Approvals

§State commissions: Kentucky, Virginia and Tennessee

§Federal: FERC (Federal Power Act), DOJ (HSR)

Consideration

Transaction

§Cash:$6.7 billion

§Assumption of utility tax-exempt debt:$925 million

§Year-end 2010

Overview

§Acquisition of E.ON U.S., parent company of Louisville Gas & Electric
and Kentucky Utilities

§$7.625 billion purchase price including approximately $450 million
of present value associated with tax benefits

§$7.175 billion enterprise value for E.ON U.S.

© PPL Corporation 2010

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Committed
Acquisition
Facility

§$6.5 billion committed bridge facility from Bank of America Merrill Lynch and
Credit Suisse

§Financing term extends beyond the expected timing of regulatory approvals

Balanced combination of financing sources

§Assumption of $925 million tax-exempt utility debt

§$800 million unsecured corporate debt and $2.1 billion first mortgage bonds at
LG&E and KU

§$250 - $750 million cash on hand

§$750 million - $1.0 billion high-equity-content securities

§$2.2 - $2.6 billion common stock

§May fund certain amounts prior to closing depending on market conditions

§Would consider potential sale of certain non-core assets

Permanent
Financing

Transaction Financing

© PPL Corporation 2010

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Transaction

Announced

Filed with KPSC

KPSC Approval

E.ON / PowerGen

April 2001

May 2001

September 2001

PowerGen / LG&E

February 2000

March 2000

May 2000

LG&E / KU

May 1997

June 1997

September 1997

KPSC has historically approved similar transactions in relatively short timeframes

Transaction Timeline

§State regulatory approvals

–Kentucky PSC: 120-day statutory review period

–Virginia State Corporation Commission and Tennessee Regulatory Authority
expected to follow a similar timeline

§Other regulatory approvals include FERC (Federal Power Act) and HSR

© PPL Corporation 2010

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Concluding Remarks

© PPL Corporation 2010

© PPL Corporation 2010

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Concluding Remarks

§Adds a best-in-class utility franchise

§Attractive valuation

§Rebalances business mix

§Improves financial flexibility

§Strengthens credit profile

§Better positions for future growth

§Expected year-end 2010 closing

© PPL Corporation 2010

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PPL

Service territory

Generating assets

E.ON U.S.

Service territory

Generating assets

Note:Represents only PPL Electric Utilities service territory and generation in PA.

Combined Utility Platform

© PPL Corporation 2010

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Q&A

© PPL Corporation 2010

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Statements contained in this presentation, including statements with respect to future events and their timing, including the
acquisition by PPL Corporation of E.ON U.S., LLC and its subsidiaries Louisville Gas & Electric Company and Kentucky Utilities
Company (collectively, the “E.ON Entities”), the expected results of operations of any of the E.ON Entities or PPL Corporation
both before or following PPL Corporation’s acquisition of the E.ON Entities, as well as statements as to future earnings, energy
prices, margins and sales, growth, revenues, expenses, cash flow, credit profile, ratings, financing, asset disposition, marketing
performance, hedging, regulation, corporate strategy and generating capacity and performance, 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 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: capital market conditions and decisions regarding capital structure; the market prices of equity securities
and the impact on pension income and resultant cash funding requirements for defined benefit pension plans; the securities and
credit ratings of PPL Corporation and its subsidiaries;stock price performance; receipt of necessary government permits,
approvals, rate relief and regulatory cost recovery; market demand and prices for energy, capacity and fuel; weather conditions
affecting customer energy usage and operating costs; competition in power markets; the effect of any business or industry
restructuring; the profitability and liquidity of PPL Corporation, the E.ON Entities and either of their subsidiaries; new accounting
requirements or new interpretations or applications of existing requirements; operating performance of plants and other facilities;
environmental conditions and requirements and the related costs of compliance, including environmental capital expenditures
and emission allowance and other expenses; system conditions and operating costs; development of new projects, markets and
technologies; performance of new ventures; asset acquisitions and dispositions; any impact of hurricanes or other severe
weather on our business, including any impact on fuel prices; the impact of state, federal or foreign investigations applicable to
PPL Corporation, the E.ON Entities and either of their subsidiaries; the outcome of litigation against PPL Corporation, the E.ON
Entities and either of their subsidiaries; political, regulatory or economic conditions in states, regions or countries where PPL
Corporation, the E.ON Entities and either of their subsidiaries conduct business, including any potential effects of threatened or
actual terrorism or war or other hostilities; foreign exchange rates; new state, federal or foreign legislation, including new tax or
environmental legislation or regulation; and the commitments and liabilities of PPL Corporation, the E.ON Entities and each of
their subsidiaries. Any such forward-looking statements should be considered in light of such important factors and in
conjunction with PPL Corporation’s Form 10-K and other reports on file with the Securities and Exchange Commission.

Forward-Looking Information Statement

© PPL Corporation 2010

© PPL Corporation 2010