0000922224-12-000035.txt : 20120330 0000922224-12-000035.hdr.sgml : 20120330 20120330123659 ACCESSION NUMBER: 0000922224-12-000035 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 5 CONFORMED PERIOD OF REPORT: 20120330 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20120330 DATE AS OF CHANGE: 20120330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL ELECTRIC UTILITIES CORP CENTRAL INDEX KEY: 0000317187 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 230959590 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-00905 FILM NUMBER: 12727299 BUSINESS ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 BUSINESS PHONE: 610-774-5151 MAIL ADDRESS: STREET 1: TWO NORTH NINTH STREET CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 FORMER COMPANY: FORMER CONFORMED NAME: PP&L INC DATE OF NAME CHANGE: 19970912 FORMER COMPANY: FORMER CONFORMED NAME: PP & L INC DATE OF NAME CHANGE: 19970912 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: 12727298 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 8-K 1 form8k.htm FORM 8-K 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):  March 30, 2012

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
     
1-905
PPL Electric Utilities Corporation
(Exact name of Registrant as specified in its charter)
(Pennsylvania)
Two North Ninth Street
Allentown, PA  18101-1179
(610) 774-5151
23-0959590
     

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 March 30, 2012, PPL Electric Utilities Corporation (“PPL Electric”) issued a press release announcing that it had filed a request with the Pennsylvania Public Utility Commission for an increase in distribution rates, expected to be effective January 1, 2013.  A copy of the press release is furnished as Exhibit 99.1.  Furnished as Exhibit 99.2 is a slide summarizing certain factual information underlying PPL Electric’s distribution rate increase request.


Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

 
(d)
 
Exhibits
 
         
     
99.1 -
Press release dated March 30, 2012 announcing PPL Electric Utilities Corporation’s filing with Pennsylvania Public Utility Commission of a request for distribution rate increase.
     
99.2 -
Supplemental slide summarizing certain elements of PPL Electric Utilities Corporation’s request for distribution rate increase.
 
 

 

 
 

SIGNATURES

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/ Vincent Sorgi
 
   
Vincent Sorgi
Vice President and Controller
 


 
PPL ELECTRIC UTILITIES CORPORATION
       
 
By:
/s/ Vincent Sorgi
 
   
Vincent Sorgi
Vice President and Chief
Accounting Officer
 




Dated:  March 30, 2012
EX-99.1 2 form8k-exhibit99_1.htm EXHIBIT 99.1 form8k-exhibit99_1.htm
Exhibit 99.1
News Release

Contact: Kurt Blumenau, 610-774-5997


PPL Electric Utilities Requests Distribution Rate Increase
to Support Investments in Reliability

ALLENTOWN, Pa. (March 30, 2012) – PPL Electric Utilities on Friday (3/30) asked the Pennsylvania Public Utility Commission to approve an annual revenue increase of about $104.6 million, or about 2.9 percent, for distribution service. The requested increase would allow the company to recover the costs associated with recent capital investments in its distribution system, the major 2011 storms, and its continued support of electric choice and consumer education.

If approved, the requested increase would likely take effect Jan. 1, 2013, after investigation and review by the commission. Even with the proposed increase for distribution service, the total electric bill for customers receiving generation service from PPL Electric Utilities (based on today’s generation prices) is expected to be lower in 2013 than it was in January 2010. This is due to the steady decline in generation rates, which make up two-thirds of the total bill.

Between the start of 2010 and the end of this year, the utility will have invested nearly $1 billion in its local distribution system. The company is replacing aging equipment, much of which was built in the 1960s and 1970s, and making other improvements to provide more reliable service to customers in all areas of its 10,000-square-mile service territory. This work has sustained and created jobs for PPL Electric Utilities employees and hundreds of contractors.

Now, PPL Electric Utilities is asking the state for permission to begin recovering some of its costs related to those upgrades. Utility companies such as PPL Electric Utilities are not allowed to recover the costs of infrastructure investments without the PUC review and approval of the rate request. For more information, customers are invited to visit www.pplelectric.com/rateinfo.

“With timely recovery of our costs for recent system improvements, we can remain financially strong and continue much-needed investments in our electric infrastructure that will renew, strengthen and modernize our system,” said Gregory N. Dudkin, president of PPL Electric Utilities.

“We have worked hard to control costs and invest prudently,” he added. “But we are making major investments and our operating costs, such as labor, fuel and materials, also keep rising.”

Impact on customers

The requested distribution rate increase would add about $7 per month to an average residential customer’s bill. Because generation rates have decreased over the past two years for both customers who purchase electricity from alternative suppliers and those who purchase default supply from PPL Electric Utilities, the company projects that January 2013 monthly costs for residential customers would be lower than those paid in January 2010.
 
The company projects that small to medium commercial and industrial customers would be paying about 1 percent more than they were in January of 2010.

Average Monthly Residential Bills:
Jan. 1, 2010: $137.34
Jan. 1, 2011: $134.34
Jan. 1, 2012: $119.93
March 1, 2012 (current rates): $111.60
Jan. 1, 2013 (based on rate request and current price to compare): $118.59

The impact on the total electric bill depends on the generation rate customers are paying, which makes up the larger share of the bill. Customers may be able to lock in these savings or save even more by shopping for their generation supply. More than 40 percent of the company’s residential customers and nearly 90 percent of large commercial and industrial customers have switched to alternate suppliers. Visit www.PAPowerSwitch.com to learn more about shopping for power supply.

“Whether you buy energy from an alternate supplier or receive default supply from PPL Electric Utilities, all customers benefit from our system improvements and from lower generation prices,” Dudkin said.

Help for customers

PPL Electric Utilities is committed to helping customers who are having difficulty paying their bills and urges those customers to contact the company to discuss their specific situation. The utility offers a range of assistance programs for certain households depending on income and other qualifications, such as OnTrack, WRAP and Operation HELP. To find out more about the help that is available, call 1-800-DIAL-PPL (342-5775) or visit pplelectric.com.

The utility also offers tools that can help customers manage their electric use and save energy and money. The online Energy Analyzer at pplelectric.com can help you track and manage your electric use and will also supply personalized tips on how to save. More than 330,000 customers have signed up to use the Energy Analyzer. The company’s E-power website features more information on rebates, home energy assessments, appliance recycling and other programs that can also help lower utility costs.

PPL Electric Utilities, a subsidiary of PPL Corporation (NYSE: PPL), provides electric delivery services to about 1.4 million customers in Pennsylvania and has consistently ranked among the best companies for customer service in the United States. More information is available at www.pplelectric.com.


EX-99.2 3 form8k-exhibit99_2.htm EXHIBIT 99.2 form8k-exhibit99_2.htm
©PPL Corporation 2012
PPL Electric Utilities Distribution Rate Case Facts
Complete filing available at www.pplelectric.com/rateinfo
Exhibit 99.2
Distribution Revenue Increase Requested
 
Test Year
 
Requested ROE
 
2012 Distribution Rate Base
 
2012 Common Equity Ratio
 
1% Change in ROE =
 
Docket No.
$104.6 million
 
2012
 
11.25%
 
$2.42 billion
 
51.03%
 
~$23 million in revenue
 
R-2012-2290597
logo
 
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