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): November 19, 2015
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 8 - Other Events
Item 8.01 Other Events
On November 19, 2015, PPL Electric Utilities Corporation ("PPL Electric"), a wholly owned subsidiary of PPL Corporation, issued a press release announcing that the Pennsylvania Public Utility Commission ("PUC") had approved the previously reported recommended decision of the PUC's Administrative Law Judge, approving the settlement agreement pursuant to which PPL Electric would be permitted to increase its annual distribution rates by $124 million, effective January 1, 2016.
A copy of the press release is filed as Exhibit 99.1 hereto.
Section 9 - Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits
(d) | Exhibits |
99.1 - | Press release, dated November 19, 2015, announcing approval of settlement agreement among the parties concerning PPL Electric's request to increase distribution rates effective January 1, 2016. |
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/ Stephen K. Breininger | ||
Stephen K. Breininger Vice President and Controller |
PPL ELECTRIC UTILITIES CORPORATION | |||
By: | /s/ Stephen K. Breininger | ||
Stephen K. Breininger Vice President and Controller |
Dated: November 23, 2015
Exhibit 99.1
Contact: | Paul Wirth, 610-774-5997 |
PPL Electric Utilities |
New PPL Electric Utilities Rates Will Fund More Work to Cut Outages
Even with increase, residential electric bills will be lower
ALLENTOWN, Pa. (Nov. 19, 2015) -- The PPL Electric Utilities delivery rate increase approved Thursday (11/19) by the Pennsylvania Public Utility Commission paves the way for customers to have even more reliable electric service.
Average customer electric bills are expected to be lower – even after the increase – because of a recent reduction in the price to compare.
“We are in the midst of monumental improvements in the quality of service for our customers,” said Greg Dudkin, PPL Electric Utilities president. “We have plans to reduce the number and duration of power outages even further, providing our customers with reliability that compares to the best electric companies in the nation.”
When the delivery charge increase approved by the PUC takes effect, a residential customer using 1,000 kilowatt-hours per month who does not shop for electricity supply would have an electric bill of about $138 per month – more than $9 lower than the current average bill of about $147.
Customers who shop for their energy supply can save even more.
PPL Electric Utilities plans to spend about $5 billion during the next five years to renew, strengthen and modernize its electricity delivery network.
The company will continue to invest in smart grid technology, new power lines and substations, more effective tree trimming and stronger poles and wires – all aimed at preventing outages from storms and other causes. These investments are paying off for customers:
· Customers now have 20 percent fewer outages than they did in 2007.
· Reliability is expected to improve by at least another 20 percent in the next five years because of additional investments.
· Tree-related power outages are down 18 percent compared to the average of the previous 10 years. Trees are the biggest cause of power outages in storms.
· In the first half of 2015, nearly 200,000 power outages were prevented because of work PPL is doing to improve its system.
“Our 2,300 employees are finding new ways every day to improve service to customers,” Dudkin said. “And at the same time, we are focused on operating more efficiently to make sure electric service from PPL remains a good value for our customers.”
The delivery charge increase will take effect on Jan. 1, 2016.
PPL Electric Utilities provides electric delivery service to more than 1.4 million homes and businesses in Pennsylvania and ranks among the best utility companies in the country for customer service and reliability. With 2,300 employees, PPL Electric Utilities is a major employer in the communities it serves. It is a subsidiary of PPL Corporation (NYSE: PPL). For more information, visit www.pplelectric.com.
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Note to Editors: Visit our media website at www.pplnewsroom.com for additional news and background about PPL Corporation.