Kentucky Utilities

Ofgem has adopted a price control regulatory framework with a balanced objective of enhancing and developing future electricity networks, controlling costs to customers and allowing DNOs, such as WPD's DNOs, to earn a fair return on their investments. This regulatory structure is focused on outputs and performance in contrast to traditional U.S. utility ratemaking that operates under a cost recovery model. Price controls are established based on long-term business plans developed by each DNO with substantial input from its stakeholders. To measure the outputs and performance, each DNO business plan includes incentive targets that allow for increases and/or reductions in revenues based on operational performance, which are intended to align returns with quality of service, innovation and customer satisfaction.

Company profile

Fiscal year end
Industry (SIC)
PPL Corporation • CEP Reserves, Inc. • LG&E and KU Energy LLC • Louisville Gas and Electric Company • PMDC International Holdings, Inc. • PPL Atlantic Holdings, LLC • PPL (Barbados) SRL • PPL Capital Funding, Inc. • PPL Electric Utilities Corporation • PPL Energy Funding Corporation ...


3 Aug 22
20 Aug 22
29 Dec 22
Quarter (USD) Jun 20 Mar 20 Sep 19 Jun 19
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Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
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Financial report summary

  • PPL is a holding company and its cash flows and ability to meet its obligations with respect to indebtedness and under guarantees, and its ability to pay dividends, largely depends on the financial performance of its respective subsidiaries and, as a result, is effectively subordinated to all existing and future liabilities of those subsidiaries.
  • Our profitability is highly dependent on our ability to recover the costs of providing energy and utility services to our customers and earn an adequate return on our capital investments. Regulators may not approve the rates we request and existing rates may be challenged.
  • We are or may be subject to costs of remediation of environmental contamination at facilities owned or operated by our former subsidiaries.
  • We are subject to financial, operational, regulatory and other risks related to requirements, developments and uncertainties in environmental regulation, including those affecting coal-fired generation facilities.
  • We are subject to operational, regulatory and other risks regarding natural gas supply infrastructure.
  • We face competition for transmission projects, which could adversely affect our rate base growth.
  • We could be subject to higher costs and/or penalties related to Pennsylvania Conservation and Energy Efficiency Programs.
  • We are subject to risks associated with federal and state tax laws and regulations.
  • Increases in electricity prices and/or a weak economy, can lead to changes in legislative and regulatory policy, including the promotion of energy efficiency, conservation and distributed generation or self-generation, which may adversely impact our business.
  • We could be negatively affected by rising interest rates, downgrades to our credit ratings, adverse credit market conditions or other negative developments in our ability to access capital markets.
  • A downgrade in our credit ratings could negatively affect our ability to access capital and increase the cost of maintaining our credit facilities and any new debt.
  • Our operating revenues could fluctuate on a seasonal basis, especially as a result of extreme weather conditions, including conditions caused or exacerbated by climate change.
  • We cannot predict the outcome of legal proceedings or investigations related to our businesses in which we are periodically involved. An unfavorable outcome or determination in any of these matters could have a material adverse effect on our financial condition, results of operations or cash flows.
  • Significant increases in our operation and maintenance expenses, including health care and pension costs, could adversely affect our future earnings and liquidity.
  • We may incur liabilities in connection with divestitures.
  • Our facilities may not operate as planned, which may increase our expenses and decrease our revenues and have an adverse effect on our financial performance.
  • We are required to obtain, and to comply with, government permits and approvals.
  • War, other armed conflicts or terrorist attacks could have a material adverse effect on our business.
  • We are subject to counterparty performance, credit or other risk in the provision of goods or services to us, which could adversely affect our ability to operate our facilities or conduct business activities.
  • We are subject to the risk that our workforce and its knowledge base may become depleted in coming years.
Management Discussion
  • This "Item 2. Combined Management's Discussion and Analysis of Financial Condition and Results of Operations" is separately filed by PPL, PPL Electric, LG&E and KU. Information contained herein relating to any individual Registrant is filed by such Registrant solely on its own behalf, and no Registrant makes any representation as to information relating to any other Registrant. The specific Registrant to which disclosures are applicable is identified in parenthetical headings in italics above the applicable disclosure or within the applicable disclosure for each Registrant's related activities and disclosures. Within combined disclosures, amounts are disclosed for individual Registrants when significant.

Content analysis

H.S. freshman Avg
New words: abandoned, abandonment, absence, ADIT, advantage, adversary, advice, AMF, anaerobic, Aquidneck, arrangement, arrearage, ASA, assembled, attention, backfill, BBB, Bcf, bifacial, Black, Blackstone, Block, body, branding, cable, Canada, catalytic, categorized, category, Champlain, chart, comment, Commerce, Commissioner, concert, conditionally, consumed, contemplated, conversion, Copenhagen, correlation, CT, cumulative, decarbonization, decoupling, deemed, Deepwater, deferral, DEM, Denmark, depicted, difficult, digester, displayed, disposed, distinct, distinguishing, docket, doubtful, DWW, EEP, eleven, emitting, enable, Enablement, encountered, England, EV, evergreen, experience, facing, fairly, Farm, feedback, forgive, forgo, forma, fossil, frame, FY, gassed, gathered, GBE, GMP, Governor, Gravel, harmonizing, headed, heating, heavily, House, hydrogen, ICE, ICFR, IFA, input, Intercontinental, interruption, invoice, IRC, ISO, ISR, Johnston, Kossuth, land, largest, lead, leadership, leverage, liquified, LNG, lost, Louisiana, LRS, MADEP, manipulation, marketplace, markup, MECO, member, Mercantile, MGP, monthly, nameplate, Narraganset, NEP, NETO, newly, Northwestern, NOx, NYMEX, OATT, offshore, onshore, Orbit, Orono, OTC, overnight, PAPUC, passed, past, percentage, pipe, Pit, Plantation, point, PPA, PPE, preceding, preferred, prefiled, premised, prescribed, pro, Proactive, producer, producing, push, quantity, quoted, reconstruct, reconstructed, reconstruction, reiterating, remitted, remuneration, rendered, repay, resetting, residential, responded, Rev, Revolution, RFP, RIE, RIPUC, scale, scaling, shifting, Shoreham, simultaneously, sinking, solicit, solution, sooner, Southern, stable, stakeholder, station, stopped, successful, supervision, surcharge, targeted, tariff, tenure, territory, Tiverton, Town, Township, track, tracking, tribunal, twelve, unassessed, unavailable, underground, underspending, underwater, undiscounted, unprotected, unsecured, upcoming, upgraded, upstream, Utica, Vehicle, Wampanoag, wind, Windsor, winter, yielded, York
Removed: agree, appealed, Assumption, building, consummation, dismissing, disposition, expired, invest, NaN, predictability, progressing, reposition, stage, strategically, sustainable, waiting, waiver
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