About Ppl Corporation
PPL Corporation is one of the largest utility companies in the world, delivering electricity to more than 10 million customers through its regulated utility subsidiaries in Kentucky, Pennsylvania, and Virginia, as well as in the UK. It also delivers natural gas to customers in Kentucky Operating as Western Power Distribution in the UK, It holds four of the UK's 14 Ofgem power distribution licenses. The company has more than 8,000 MW of electric generating capacity, about 220,000 miles of electric lines, and gas transmission mains and storage fields. PPL was incorporated in 1994.
PPL has three segments: Kentucky Regulated, UK Regulated, and Pennsylvania Regulated. While the UK and Pennsylvania each bring in about 30% of total revenue, Kentucky is the highest earner, bringing in about 40%.
The Kentucky segment includes Louisville Gas and Electric, which provides electric services to approximately 420,000 customers in Louisville and adjacent areas in Kentucky, and natural gas service to almost 330,000 customers. It also comprises of Kentucky Utility, which serves around 560,000 customers in Kentucky Virginia, and Tennessee.
The UK segment, which includes primarily Western Power Distribution's (WPD) regulated electricity distribution operation, serves almost 8 million end users in south Wales and southwest and central England. It holds the four of the UK's 14 Ofgem regulated distribution operator network (DNO) licenses.
The Pennsylvania segment (PPL Electric) delivers electricity to 1.4 million customers in eastern and central Pennsylvania.
Headquartered in Allentown, Pennsylvania, PPL delivers electricity to customers in Kentucky, Pennsylvania, Virginia, and the UK, and natural gas to customers in Kentucky.
The US accounts for more than 70% of company's revenue; the rest comes from the UK.
Sales and Marketing
PPL Corporation serves more than 10 million customers in the United States and the United Kingdom.
Operating in a highly regulated sector, PPL's revenue has been decreasing since 2015 until 2017. The company's revenue spiked up in 2018, but slightly decreased in 2019. Since 2015, the company's revenue increased by 1% compared to $7.8 billion in 2019.
In fiscal 2019 the company's sales decreased by $16 million to $7.74 billion compared to $7.79 billion in 2018. The decreased was primarily from its UK business, which fell its sales 4%, while PPL's US operation grew 2%.
Net income dropped by 4% to $1.7 billion due to lower income taxes.
PPL's coffers grew $193 million during 2019, ending the year at $836 million. It generated $2.4 billion from its operations and $836 million from its financing activities. Investing activities used $3.1 billion. PPL's main cash uses in 2019 were capital expenditures, dividends, and long-term debt repayments.
Faced with falling revenue and technological disruptions that are rapidly changing the energy grid, PPL Corporation is embarking on a long-term core strategy of sustainable production.
Strong cash flows put PPL in a strong investment position. As the world considers climate change and as PPL looks to the future, the company will continue to take steps to minimize its impact on the environment, transform the way the company generate electricity and incorporate new, lower-emitting technology. It is aiming to cut CO2 emissions 80% from 2010 levels by 2050.
2 N 9th St
Allentown, PA 18101-1179
Phone: 1 (610) 774-5151
Employer Type: Publicly Owned
Stock Symbol: PPL
Stock Exchange: , NYSE
SVP and CFO: Vincent Sorgi
Chairman, President and CEO: William H. Spence
President and COO, LG&E and KU Energy: Paul W. Thompson
Employees (This Location): 1,650
Employees (All Locations): 12,280
Central City, KY
Hazle Township, PA
Lehigh Valley, PA
Wilkes Barre, PA
York Haven, PA