PPL Corporation (PPL): Lienzo del Modelo de Negocios [Actualizado en Ene-2025]

En el panorama dinámico de la provisión de energía, PPL Corporation emerge como una potencia estratégica, elaborando meticulosamente su modelo de negocio para navegar por el complejo terreno de la generación de electricidad, la distribución y la innovación sostenible. Con un enfoque integral que combina sin problemas la generación de energía tradicional con tecnologías renovables de vanguardia, el modelo de modelo de negocios de la PPL revela una estrategia multifacética diseñada para satisfacer las demandas evolucionadas de los consumidores de energía residencial, comercial e industrial. Desde la infraestructura de cuadrícula avanzada hasta la participación personalizada del cliente, esta exploración revelará los intrincados mecanismos que impulsan el éxito de las PPL en el ecosistema de energía que transforman siempre.

PPL Corporation (PPL) - Modelo de negocios: asociaciones clave

Compañías de servicios públicos y distribuidores de electricidad regionales

PPL Corporation colabora con múltiples socios regionales de distribución de electricidad en sus territorios operativos:

Región	Socios de distribución	Vía de Servício
Pensilvania	Utilidades eléctricas de PPL	66,000 millas cuadradas
Kentucky	Louisville Gas and Electric	28 condados
Reino Unido	Distribución de energía occidental	29,000 kilómetros cuadrados

Proveedores de tecnología de energía renovable

La estrategia de asociación de energía renovable de PPL incluye:

• Vestas Wind Systems A/S para tecnología de turbina eólica
• Primer solar para instalaciones de paneles fotovoltaicos
• General Electric para soluciones de almacenamiento de energía a escala de cuadrícula

Agencias reguladoras gubernamentales

Agencia	Jurisdicción regulatoria	Enfoque de cumplimiento
Comisión de servicios públicos de Pensilvania	Regulación a nivel estatal	Precios de electricidad e infraestructura
Comisión de Servicio Público de Kentucky	Regulación a nivel estatal	Normas de servicio de servicios públicos
Comisión Reguladora Federal de Energía	Supervisión de nivel federal	Transmisión de electricidad interestatal

Fabricantes y proveedores de equipos

Las asociaciones de equipos críticos de PPL incluyen:

• Siemens para infraestructura de transmisión
• ABB para componentes de la cuadrícula eléctrica
• Schneider Electric para Smart Grid Technologies

Organizaciones ambientales y de sostenibilidad

Organización	Enfoque de asociación	Iniciativas de colaboración
Fondo Mundial de Vida Silvestre	Estrategias de reducción de carbono	Desarrollo de energía renovable
Fondo de Defensa Ambiental	Reducción de emisiones	Transición de energía limpia
Grupo de energía limpia	Infraestructura sostenible	Modernización de la cuadrícula

PPL Corporation (PPL) - Modelo de negocio: actividades clave

Generación de energía eléctrica y transmisión

PPL Corporation genera aproximadamente 19,700 megavatios de electricidad en múltiples regiones. La infraestructura de transmisión abarca 51,000 millas de circuito.

Tipo de generación	Capacidad (MW)	Porcentaje
Gas natural	10,300	52.3%
Carbón	5,600	28.4%
Energía renovable	3,800	19.3%

Mantenimiento de la infraestructura de la cuadrícula

La inversión de infraestructura anual totaliza $ 1.2 mil millones, centrándose en las mejoras de modernización y confiabilidad.

• Implementación de tecnología de cuadrícula inteligente
• Actualizaciones de subestación
• Mejora de resiliencia de la red de distribución

Desarrollo de energía renovable

PPL se dirige a 8,000 MW de capacidad de energía renovable para 2030.

Fuente renovable	Capacidad actual (MW)
Solar	1,200
Viento	2,600

Implementación del programa de eficiencia energética

Inversión anual del programa de eficiencia energética: $ 180 millones.

• Herramientas de gestión de energía del cliente
• Iniciativas de respuesta a la demanda
• Programas de conservación de energía

Servicio al cliente y gestión de energía

Atiende a 10.5 millones de clientes en múltiples estados con un presupuesto anual de servicio al cliente de $ 220 millones.

Métrico de servicio	Actuación
Calificación de satisfacción del cliente	4.2/5
Tiempo de respuesta promedio	45 minutos

PPL Corporation (PPL) - Modelo de negocio: recursos clave

Instalaciones de generación de energía

PPL Corporation posee y opera instalaciones de generación de energía en múltiples estados y regiones:

Tipo de generación	Capacidad (MW)	Número de instalaciones
Gas natural	3,342	7
Energía renovable	1,245	12
Nuclear	1,672	2

Infraestructura de transmisión y distribución

La red de transmisión y distribución de PPL incluye:

• Longitud total de la línea de transmisión: 15,673 millas
• Longitud de la línea de distribución: 42,891 millas
• Número de subestaciones: 521
• Territorios de servicio en Kentucky, Pensilvania y Reino Unido

Fuerza laboral técnica calificada

PPL Corporation Workforce Composition:

Categoría de empleado	Número de empleados
Total de empleados	7,253
Personal técnico/de ingeniería	2,456
Personal de operaciones	3,124

Tecnologías avanzadas de gestión de energía

Inversiones y capacidades tecnológicas:

• Inversión de tecnología de cuadrícula inteligente: $ 312 millones
• Cobertura de infraestructura de medición avanzada: 1.4 millones de clientes
• Presupuesto de infraestructura de ciberseguridad: $ 45 millones anuales

Capital financiero para inversiones de infraestructura

Recursos financieros para el desarrollo de infraestructura:

Métrica financiera	Cantidad
Gastos de capital total (2023)	$ 1.8 mil millones
Presupuesto de inversión de infraestructura	$ 2.3 mil millones (2024-2026)
Equivalentes de efectivo y efectivo	$ 567 millones

PPL Corporation (PPL) - Modelo de negocio: propuestas de valor

Suministro de electricidad confiable a clientes residenciales y comerciales

PPL Corporation atiende a aproximadamente 1,5 millones de clientes eléctricos en Pensilvania y 1.3 millones de clientes en Kentucky. La compañía mantiene una capacidad de generación total de 13,115 MW en sus centrales eléctricas.

Segmento de clientes	Número de clientes	Territorio de servicio
Clientes residenciales	1,500,000	Pensilvania
Clientes comerciales	1,300,000	Kentucky

Soluciones de energía limpia y sostenible

PPL se ha comprometido a reducir las emisiones de carbono en un 70% para 2030 en comparación con los niveles de 2010. La empresa genera actualmente:

• 33% de la electricidad de fuentes renovables y nucleares
• Invirtió $ 1.2 mil millones en infraestructura de energía limpia

Programas de precios competitivos y eficiencia energética

PPL ofrece programas de eficiencia energética con un presupuesto anual de $ 65 millones. Las tarifas de electricidad residencial promedio son:

Estado	Tarifa residencial promedio
Pensilvania	$ 0.14 por kWh
Kentucky	$ 0.11 por kWh

Tecnologías de cuadrícula avanzada y gestión de energía inteligente

PPL ha invertido $ 450 millones en tecnologías de modernización de la cuadrícula, que incluyen:

• Implementación de medidores inteligentes que cubren el 98% del territorio de servicio
• Sistemas de gestión de distribución avanzada
• Infraestructura automatizada de gestión de interrupciones

Compromiso de sostenibilidad ambiental

Las métricas de sostenibilidad ambiental de las personas incluyen:

• Reducción de las emisiones de CO2 en 2,8 millones de toneladas métricas en 2022
• Comprometido con emisiones de carbono neto-cero para 2050
• La cartera de energía renovable se expande a 5,000 MW para 2030

PPL Corporation (PPL) - Modelo de negocios: relaciones con los clientes

Plataformas de servicio al cliente digital

PPL opera una plataforma integral de servicio al cliente digital con las siguientes métricas:

Canal digital	Uso anual	Tasa de satisfacción del cliente
Usuarios de aplicaciones móviles	1.2 millones	Calificación de 4.3/5
Portal de soporte en línea	3.5 millones de interacciones	Tasa de resolución del 89%
Apoyo en las redes sociales	85,000 consultas de clientes resueltas	Tiempo de respuesta del 92% menos de 2 horas

Informes de uso de energía personalizados

PPL proporciona información detallada de consumo de energía a través de:

• Informes de energía digital mensual
• Seguimiento de consumo en tiempo real
• Análisis de uso comparativo

Función de informes	Inscripción	Ahorro anual de costos
Informes de energía personalizados	672,000 clientes	$ 14.3 millones en posibles ahorros

Facturación en línea y gestión de cuentas

La plataforma de gestión de cuentas digitales de PPL incluye:

• Opciones de facturación sin papel
• Sistemas de pago automatizados
• Programas de facturación de presupuesto

Función de facturación digital	Tasa de adopción	Volumen de transacción anual
Pago de factura en línea	78% de los clientes	42.6 millones de transacciones
Facturación sin papel	65% de inscripción	$ 1.2 millones de ahorro de costos

Servicios de consulta de eficiencia energética

PPL ofrece programas especializados de eficiencia energética:

Servicio de consulta	Participantes anuales	Ahorro de energía
Auditoría de energía en el hogar	45,000 clientes	12% de reducción de energía promedio
Evaluación de energía empresarial	3.200 negocios	$ 22.7 millones de ahorros totales

Programas de compromiso y apoyo de la comunidad

Las iniciativas de apoyo comunitario de PPL incluyen:

Programa	Inversión anual	Impacto de la comunidad
Programa de asistencia energética	$ 8.6 millones	92,000 hogares apoyados
Subvenciones de desarrollo comunitario	$ 3.4 millones	127 proyectos locales financiados

PPL Corporation (PPL) - Modelo de negocios: canales

Portal de clientes en línea

El portal de clientes en línea de PPL proporciona acceso digital a la administración de cuentas y los servicios de energía.

Característica de portal	Estadísticas de uso
Usuarios activos mensuales	687,432
Transacciones de pago de facturas en línea	2.3 millones por año
Conocimiento del tablero de uso de energía	58% de los usuarios registrados

Aplicación móvil

La aplicación móvil de PPL ofrece funciones integrales de gestión de servicios públicos.

Métricas de aplicaciones móviles	Puntos de datos
Descargas totales de aplicaciones	412,000
Usuarios activos mensuales promedio	276,500
Calificación de la tienda de aplicaciones	4.3/5

Centros de llamadas de servicio al cliente

• Centros de llamadas totales: 3 ubicaciones
• Volumen anual de llamadas: 1.8 millones de llamadas
• Tiempo de respuesta promedio: 3.2 minutos
• Tasa de satisfacción del cliente: 87%

Centros de servicio físico

Detalles del centro de servicio	Métrica
Ubicaciones físicas totales	12 centros de servicio
Visitas anuales al cliente	342,000
Tiempo de espera promedio	17 minutos

Ventas y marketing directos

PPL utiliza estrategias de marketing específicas en múltiples canales.

Canal de marketing	Inversión anual
Marketing digital	$ 4.2 millones
Campañas de correo directo	$ 1.7 millones
Extensión comunitaria	$890,000

PPL Corporation (PPL) - Modelo de negocio: segmentos de clientes

Consumidores de electricidad residencial

PPL atiende a aproximadamente 1,4 millones de clientes residenciales en Pensilvania y Kentucky a partir de 2023.

Región	Número de clientes residenciales	Consumo promedio de electricidad mensual
Pensilvania	1,100,000	850 kWh
Kentucky	300,000	1.100 kWh

Negocios comerciales e industriales

PPL sirve a más de 135,000 clientes comerciales e industriales en sus territorios de servicio.

• Grandes instalaciones de fabricación
• Empresas pequeñas a medianas
• Negocios minoristas
• Instituciones de atención médica

Segmento de negocios	Número de clientes	Consumo anual de electricidad
Fabricación	35,000	12.5 millones de MWh
Comercial	85,000	6.8 millones de MWh
Institucional	15,000	3.2 millones de MWh

Entidades municipales y gubernamentales

PPL brinda servicios de electricidad a 250 clientes municipales y gubernamentales en sus áreas de servicio.

• Gobiernos municipales
• Oficinas administrativas del condado
• Instalaciones estatales
• Infraestructura pública

Sector agrícola

PPL atiende a aproximadamente 5,000 clientes agrícolas con soluciones de electricidad especializadas.

Sub-segmento agrícola	Número de clientes	Uso de electricidad anual promedio
Operaciones agrícolas	3,500	250,000 kWh
Procesamiento agrícola	1,500	750,000 kWh

Consumidores de energía a escala de servicios públicos

PPL admite 75 consumidores de energía a escala de servicios públicos con transmisión de electricidad de alto volumen.

Tipo de consumidor	Número de clientes	Transmisión de electricidad anual
Operadores de cuadrícula grandes	25	35 millones de MWh
Organizaciones de transmisión regionales	50	22 millones de MWh

PPL Corporation (PPL) - Modelo de negocio: Estructura de costos

Mantenimiento de infraestructura de generación de energía

Los costos de mantenimiento de la infraestructura de PPL Corporation en 2023 totalizaron $ 987.3 millones, con un desglose específico de la siguiente manera:

Categoría de infraestructura	Costo de mantenimiento anual
Instalaciones de generación de energía	$ 456.2 millones
Infraestructura de transmisión	$ 312.5 millones
Red de distribución	$ 218.6 millones

Adquisición de combustible y energía

Los gastos de adquisición de energía de PPL para 2023 alcanzaron los $ 1.2 mil millones, con la siguiente mezcla de combustible:

• Gas natural: $ 542.7 millones
• Carbón: $ 387.3 millones
• Fuentes de energía renovable: $ 270 millones

Compensación y capacitación de empleados

Compensación total de la fuerza laboral para 2023:

Categoría de compensación	Costo total
Salarios base	$ 678.4 millones
Beneficios	$ 215.6 millones
Capacitación y desarrollo	$ 42.3 millones

Gastos de cumplimiento regulatorio

Los costos de cumplimiento regulatorio en 2023 totalizaron $ 215.7 millones, incluyendo:

• Cumplimiento ambiental: $ 89.5 millones
• Regulaciones de seguridad: $ 62.3 millones
• Gastos de informes y auditoría: $ 63.9 millones

Inversiones de tecnología e innovación

Asignación de inversión tecnológica para 2023:

Categoría de tecnología	Monto de la inversión
Infraestructura digital	$ 156.4 millones
Modernización de la cuadrícula	$ 224.6 millones
Ciberseguridad	$ 87.2 millones

Estructura de costos totales: $ 2.6 mil millones para el año fiscal 2023

PPL Corporation (PPL) - Modelo de negocios: flujos de ingresos

Ventas de electricidad a clientes residenciales

En 2022, PPL Corporation informó ventas de electricidad residencial de 48.9 mil millones de kilovatios-hora en sus territorios de servicio. La tasa de electricidad residencial promedio fue de $ 0.14 por kilovatio-hora, generando aproximadamente $ 6.85 mil millones en ingresos residenciales.

Territorio de servicio	Clientes residenciales	Ventas de electricidad (KWH)	Ingresos ($)
Kentucky	524,000	16.2 mil millones	2.27 mil millones
Pensilvania	1.2 millones	22.7 mil millones	3.18 mil millones
Reino Unido	330,000	10 mil millones	1.400 millones

Contratos de energía comercial e industrial

Las ventas de electricidad comercial e industrial alcanzaron 62.300 millones de kilovatios-hora en 2022, con un ingreso total de $ 8.75 mil millones. La tarifa comercial promedio fue de $ 0.14 por kilovatio-hora.

• Grandes clientes industriales: 35.6 mil millones de kWh
• Clientes comerciales medianos: 26.7 mil millones de kWh

Ventas de crédito de energía renovable

PPL Corporation generó $ 127 millones de ventas de crédito de energía renovable en 2022. La compañía vendió 2.4 millones de créditos de energía renovable a un precio promedio de $ 52.90 por crédito.

Tasas de transmisión de cuadrícula

Los ingresos por transmisión para PPL Corporation totalizaron $ 1.2 mil millones en 2022. La compañía opera aproximadamente 16,000 millas de líneas de transmisión en sus territorios de servicio.

Tipo de línea de transmisión	Millas	Ingresos por milla ($)
Transmisión de alto voltaje	8,500	75,000
Transmisión de voltaje medio	7,500	55,000

Ingresos del programa de eficiencia energética

Los programas de eficiencia energética de PPL generaron $ 94 millones en 2022. Estos programas incluyeron iniciativas de respuesta a la demanda y servicios de gestión de energía para clientes comerciales y residenciales.

• Programas de eficiencia energética residencial: $ 42 millones
• Programas comerciales de eficiencia energética: $ 52 millones

PPL Corporation (PPL) - Canvas Business Model: Value Propositions

You're looking at the core promises PPL Corporation is making to its customers, regulators, and investors as of late 2025. These aren't just mission statements; they are backed by concrete capital plans and operational targets.

Safe, Reliable, and Affordable Energy: Core utility service mandate.

PPL Corporation provides electricity and natural gas safely, reliably, and affordably to 3.5 million customers across its service territories. Reliability is being actively enhanced through technology deployment. For instance, PPL Electric reported that customers experienced 510,000 fewer interruptions so far in 2025 compared to the same period in 2024. This is driven by investments in the grid, with approximately 221 load-based and reliability projects planned for transmission and distribution in 2025.

Predictable Financial Growth: Targeted 6-8% annual EPS and dividend growth through 2028.

The value proposition for shareholders centers on steady, predictable growth, supported by a large, regulated asset base and constructive regulatory environments. The company has reaffirmed its commitment to top-tier growth rates through at least 2028.

Metric	Target/Projection	Period/Date
Annual EPS Growth	6% - 8%	Through 2028
Annual Dividend Growth	6% - 8%	Through 2028
2025 Ongoing EPS Forecast Midpoint	$1.81 per share	FY2025
Projected 2026 Ongoing EPS	$2.02	FY2026
Rate Base CAGR	9.8%	Through 2028
Rate Base Projection	From $26.5 billion to $38.6 billion	2024 to 2028
Total Capital Investment Plan	$20 billion	2025 through 2028
2025 Infrastructure Investment Target	$4.3 billion	2025
FFO/CFO to Debt Target	16% - 18%	Throughout the plan period

The total return proposition, reflecting targeted EPS growth plus dividend yield based on the April 30, 2025, closing price, is targeted at 9% - 12%.

Grid Modernization: Implementing a 'self-healing grid' to reduce outages.

PPL Corporation is investing heavily to make the grid tougher and smarter. Nearly 65% of the $20 billion capital investment plan through 2028 is focused on transmission and distribution updates to promote grid modernization and resiliency. This includes deploying smart grid devices and automation. Since 2015, the smart grid has avoided more than 3 million outages. By the end of 2025, PPL Electric is expecting to install over 9,000 smart sensors under its program.

The modernization efforts are quantified:

• Investment in distribution and transmission upgrades between 2025 and 2028 is nearly $7 billion.
• The Fault Isolation and Service Restoration (FISR) technology, enhanced by smart sensors, has avoided 65,173 momentary and 44,255 permanent customer interruptions since rollout.
• The company is building new substations and transmission lines, with approximately 221 load-based and reliability projects planned for 2025.

Powering Economic Development: Supporting nearly 11 GW of data center load requests.

The utility is strategically positioned to capture significant load growth from data centers, particularly in Pennsylvania and Kentucky. The value here is meeting massive, concentrated demand reliably through new generation and grid upgrades.

Here's the quick math on the data center pipeline:

• PPL Electric Utilities has advanced-stage agreements to interconnect about 14 GW of data centers in Pennsylvania as of Q2 2025.
• Overall data center interest in the Pennsylvania territory has reached over 60 GW of potential projects in the interconnection queue.
• Under signed agreements, data center load in PA could grow from 800 MW in 2026 to 14.4 GW in 2034.
• The Kentucky segment announced the first 400 MW hyperscale data center campus in Louisville.
• To meet the anticipated shortfall of about 6 GW in Pennsylvania over the next five to six years, a joint venture with Blackstone Infrastructure is set to build new generation, representing an investment need of about $15 billion.
• Transmission capital investment specifically for advanced-stage data centers is estimated at $700-$850 million.

Customer Affordability: Commitment to O&M savings and rate management.

Cost discipline directly translates to better affordability for the 3.5 million customers. PPL Corporation is driving operational efficiencies to offset inflationary pressures and support rate management. The company reduced other O&M expenses by nearly 4.5% year-over-year in the first quarter of 2025.

The specific O&M targets are:

• Targeting cumulative annual O&M efficiencies of at least $150 million in 2025, relative to the 2021 baseline.
• Increasing the target to at least $175 million in annual O&M savings by 2026.

Furthermore, approximately 60% of the capital investment plan is subject to reduced regulatory lag through mechanisms like formula rates and trackers, which helps provide certainty on returns while managing rate impacts.

Finance: draft 13-week cash view by Friday.

PPL Corporation (PPL) - Canvas Business Model: Customer Relationships

You're looking at how PPL Corporation manages its connection with the millions of people and businesses it serves across its regulated footprint. Honestly, for a utility, the customer relationship is fundamentally about reliability and the regulatory compact, but PPL is definitely pushing the envelope on digital interaction.

Regulated Service Model: Long-term, non-competitive, essential service provision

PPL Corporation's relationship is anchored in its role as an essential, long-term provider across its operating companies. This isn't a competitive market where customers can easily switch providers; your service is tied to the territory. As of the latest figures, PPL Corporation's regulated utility companies provide electricity and natural gas to more than 3.5 million customers in the United States. To break that down for you, the customer base is spread across its primary operations:

• PPL Electric Utilities Corporation serves about 1.5 million customers in central and eastern Pennsylvania.
• Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU) serve more than 1.3 million customers throughout Kentucky and parts of Virginia.
• Rhode Island Energy (RIE) provides essential energy services to approximately 800,000 homes and businesses across Rhode Island.

This essential nature means the relationship is built on maintaining service continuity, which is why you see them focusing on grid hardening and resilience.

Digital Engagement: Offering advanced tools and budget billing programs

Still, PPL is actively working to modernize how customers interact with them, moving beyond just outage restoration. They are focused on empowering customers through expanded digital options and improved service. For instance, PPL announced a $20 billion investment in smart grid technology, automation, and AI-driven solutions in 2025, partly aimed at stabilizing customer payments. This investment supports the expansion of smart grid and automation, including advanced meters. PPL Electric Utilities Corporation, in particular, consistently ranks among the best companies in the U.S. for customer service, even earning the Escalent 2024 Customer Champions Award - Residential for utility customer engagement. They are also focusing on new rate designs to incentivize right behavior for utilities and customers to reduce energy consumption.

Here's a quick look at the scale of their service and their focus on digital modernization:

Metric	Value/Status	Context
Total Regulated Customers	More than 3.5 million	Electricity and natural gas service across PA, KY, and RI.
PPL Electric Customers (PA)	1.5 million	Electricity distribution and transmission services.
RIE Customers (RI)	Over 800,000	Electricity and natural gas delivery.
Digital/Smart Grid Investment (2025 Plan)	$20 billion	For smart grid/AI upgrades to modernize infrastructure and stabilize payments.
Customer Service Recognition	Escalent 2024 Customer Champions Award - Residential	Award for utility customer engagement (PPL Electric).

Proactive Regulatory Dialogue: Fostering constructive relationships to support investment

The utility business model hinges on regulatory acceptance for capital recovery. PPL continues to develop and foster constructive regulatory relationships to support necessary investment. You see this commitment reflected directly in their capital planning. They have a $20 billion capital investment plan driving an average annual rate base growth of 9.8% through 2028. Crucially, 60% of this capital investment plan is subject to reduced regulatory lag because they are utilizing future test years in each jurisdiction (Kentucky, Pennsylvania, and Rhode Island). This structure helps ensure a more timely return on the infrastructure improvements customers rely on.

Dedicated Economic Development Teams: Working directly with large commercial customers

PPL is positioning itself to support significant customer growth, particularly from large energy users like data centers. They are well positioned to support customer growth and economic development, including data centers. PPL Electric, for example, anticipates summer peak energy demand of 7.5 GW in its territory will double in just the next five to six years due to this acceleration. To manage these large load additions, the relationship with these commercial customers involves specific financial arrangements. Data centers in advanced stages have executed contracts with minimum load commitments that obligate them to pay a significant portion of a project's peak load until they pay for service in an amount equal to the socialized cost of the upgrades. This direct engagement ensures that major new load growth is financed responsibly while supporting regional economic vitality.

PPL Corporation (PPL) - Canvas Business Model: Channels

PPL Corporation delivers utility services through three primary regulated operating companies, each serving distinct geographic regions directly to the end-user.

PPL Electric Utilities: Direct electric delivery in central and eastern Pennsylvania.

PPL Electric Utilities functions as a pure electric transmission and distribution company, directly serving its customer base across a defined territory in Pennsylvania. This direct physical presence is the primary channel for service delivery.

• Delivers safe, reliable, and affordable electricity to more than 1.4 million homes and businesses in central and eastern Pennsylvania.
• The company has developed one of the most advanced electric grids in the country.
• PPL Electric Utilities has received 30 J.D. Power and Associates awards for customer satisfaction.

Louisville Gas and Electric (LG&E) and Kentucky Utilities (KU): Electric/gas service in Kentucky.

Louisville Gas and Electric Company and Kentucky Utilities Company operate as fully integrated regulated utility companies, providing both electric and natural gas service across Kentucky and a portion of Virginia. Their service delivery is localized through their respective operational structures.

Rhode Island Energy: Electric and gas utility service in Rhode Island.

Rhode Island Energy provides essential energy services across Rhode Island, managing the delivery of electricity or natural gas to its customer base within the state.

The overall PPL Corporation family of companies provides electricity and natural gas to approximately 3.6 million customers in the United States.

Utility Entity	Service Type	Customer Count (Approximate)	Geographic Footprint
PPL Electric Utilities	Electric Distribution	More than 1.4 million	Central and Eastern Pennsylvania
Louisville Gas and Electric (LG&E)	Electric and Natural Gas Distribution	335,000 Gas and 436,000 Electric	Louisville and 16 surrounding counties (Kentucky)
Kentucky Utilities (KU)	Electric Distribution	545,000 (Kentucky) + 28,000 (Virginia)	77 Kentucky counties and five counties in Virginia
Rhode Island Energy (RIE)	Electric and Natural Gas Delivery	Over 770,000	Rhode Island

Digital Platforms: Online portals for billing, outage reporting, and energy management.

Digital channels are critical touchpoints for customer interaction, bill management, and service requests across the PPL Corporation subsidiaries. These platforms are being modernized as part of broader infrastructure investment.

• PPL Corporation is strategically investing $20 billion in infrastructure upgrades, which supports modernizing these digital channels for a resilient grid.
• LG&E and KU offer a new advanced meter portal allowing customers to view energy usage in near real time.
• Customers across LG&E and KU can manage billing, report outages, and establish payment arrangements via the mobile app or online My Account.
• PPL Electric Utilities customers use their digital channels to report outages, make payments, and explore Seasonal Savings solutions.
• Rhode Island Energy directs customers to www.RIEnergy.com to explore energy efficiency solutions and savings programs.

PPL Corporation (PPL) - Canvas Business Model: Customer Segments

You're looking at the core customer base for PPL Corporation as of late 2025, which is heavily weighted toward regulated utility service across three main jurisdictions. Honestly, the numbers show a clear focus on regulated electric and gas delivery.

Residential Customers

PPL Corporation provides essential electricity and natural gas service to more than 3.6 million customers across its operating territories in the United States. The residential customer base forms the foundation of the regulated business.

Here's a breakdown of the electric and gas customer counts based on the latest detailed figures from the end of 2024, which inform the current 2025 structure:

Jurisdiction/Segment	Utility Operations	Electric Customers (Approximate)	Natural Gas Customers (Approximate)
Pennsylvania Regulated	PPL Electric Utilities Corporation	1.5 million	N/A (Electric Delivery Only)
Kentucky Regulated	Louisville Gas and Electric Company and Kentucky Utilities Company	Part of over 1.3 million total customers	Part of over 1.3 million total customers
Rhode Island Regulated	Rhode Island Energy (RIE)	515,000	280,000

To be fair, the total customer count across all services is approximately 3.6 million. Furthermore, PPL Electric Utilities specifically assisted more than 100,000 customers through support programs in 2024, showing a commitment to affordability support for this segment.

Commercial and Industrial (C&I) Customers

The Commercial and Industrial customer base is integrated within the customer counts above, served across the Pennsylvania, Kentucky, and Rhode Island regulated segments. PPL Corporation engages across all levels of customer class, from residential to industrial, to ensure they have necessary information.

For PPL Electric Utilities in Pennsylvania, the customer base includes businesses. A filing in late 2025 indicated that for a typical industrial customer using 150,000 kWh and 500 KW per month, a requested rate increase would equate to about $514 per month. This shows the direct financial impact on major C&I users.

The Kentucky segment operates about 7,500 megawatts of regulated generating capacity, serving these commercial and industrial loads alongside residential users.

Large Load Customers

This group represents a significant growth driver and focus area for PPL Corporation's capital plan. You should note the executive commentary from early 2025 specifically highlighted sustained strong interest from data center developers in Pennsylvania and Kentucky. This emerging load growth is a key factor supporting the planned capital investment of $20 billion between 2025-2028.

The company is making system enhancements necessary to meet electricity demand over the long term to support electrification efforts by these large users, including the adoption of electricity-fueled transportation.

Wholesale Energy Market

PPL Corporation generates electricity from power plants and also markets wholesale and retail energy and natural gas. While the primary focus is regulated delivery, this segment exists to manage generation assets and optimize energy sales outside of direct regulated retail service.

In 2024, the company's LG&E and KU power plants generated a total of 30,700 GWh of electricity. This generation capacity feeds both regulated needs and potential wholesale market activity.

Finance: draft 13-week cash view by Friday.

PPL Corporation (PPL) - Canvas Business Model: Cost Structure

You're looking at the major outflows that fuel PPL Corporation's massive investment strategy, which is heavily weighted toward grid modernization and capacity expansion to meet surging demand, especially from data centers. The cost structure is dominated by the capital intensity required to support the projected rate base growth.

The company's financing strategy directly impacts its interest expense, as it funds the multi-year capital program. To manage this, PPL projects issuing approximately $2.5 billion in equity through 2028 to maintain its targeted Funds from Operations (FFO)/Cash Flow from Operations (CFO) to debt ratio of 16% to 18%.

Here's a quick look at the key quantified cost and investment drivers for PPL Corporation as of late 2025:

Cost Component	2025 Specific Figure / Target	Plan Period Figure
Capital Expenditures (CapEx) - 2025 Investment	Approximately $4.3 billion	Total planned investment of $20 billion (2025-2028)
Operations & Maintenance (O&M) Savings Target	At least $150 million in cumulative annual efficiencies (vs. 2021 baseline)	Targeting at least $175 million in cumulative annual savings by 2026
Equity Financing Needs	Approximately $400 million to $500 million expected issuance in 2025	Total projected equity needs of $2.5 billion (2025-2028)

Capital Expenditures (CapEx)

PPL Corporation is definitely in a high investment intensity phase. You see this clearly in the 2025 plan, which targets infrastructure improvements of over $4 billion. This 2025 spend is the first year of a much larger commitment.

The total capital expenditure plan runs from 2025 through 2028, totaling approximately $20 billion. This investment is designed to drive an average annual rate base growth of 9.8% over that period, up from the prior plan's 6.3% growth.

Interest Expense

Financing that $20 billion capital plan through 2028 means debt levels will be significant, leading to elevated interest expense. Factors driving lower earnings in Q4 2024 included higher interest expense, so you know this line item is actively managed. The company's strategy to issue about $2.5 billion in equity through 2028 is a direct lever to manage the debt load and associated financing costs.

Fuel and Energy Purchases

As a regulated utility, PPL Corporation incurs substantial costs for power generation and purchased energy to serve its customers across Kentucky, Pennsylvania, and Rhode Island. While the overall capital plan and O&M savings are quantified, specific, current figures for Fuel and Energy Purchases are not explicitly detailed in the latest public guidance documents provided.

Operations and Maintenance (O&M)

Cost control in day-to-day running is a major focus to help keep rates affordable. PPL Corporation is on track to achieve at least $150 million in cumulative annual O&M efficiencies in 2025, measured against a 2021 baseline. This builds on success from prior transformation initiatives.

The O&M efficiency drive is supported by technology deployment:

• Deploying smart grid technology.
• Increasing automation.
• Expanding the use of data science.

Regulatory Compliance Costs

Meeting state and federal mandates requires ongoing spending, which PPL seeks recovery for through various mechanisms. For instance, the Electric Cost Recovery (ECR) mechanism in Kentucky provides for the recovery of additional environmental investments needed for regulatory compliance, such as Environmental Learning Goals (ELGs) or Coal Combustion Residuals (CCRs).

Also, the Distribution System Improvement Charge (DSIC) allows PPL Electric to recover costs for repairing, improving, or replacing eligible property, which includes complying with evolving regulatory requirements.

Finance: draft 13-week cash view by Friday.

PPL Corporation (PPL) - Canvas Business Model: Revenue Streams

The revenue generation for PPL Corporation is fundamentally tied to its regulated utility operations across Pennsylvania, Kentucky, and Rhode Island. These streams are predictable, underpinned by approved capital investments, and subject to regulatory oversight.

Regulated Electric Distribution and Transmission Revenue: Primary source, based on approved rate base.

Revenue from PPL Electric Utilities in Pennsylvania is driven by its rate base, which had not seen a distribution base rate change for ten years until a September 30, 2025 filing. This filing requested a distribution base rate revenue increase of approximately $356 million, which translates to a net distribution revenue increase request of just over $300 million, with an expected effective date of July 1, 2026, pending approval.

Performance across the regulated electric and gas segments for the third quarter of 2025 shows clear contributions:

Segment	Q3 2025 Ongoing Earnings Per Share	Year-Over-Year Increase
Kentucky Regulated	$0.26 per share	Up from $0.24 per share
Pennsylvania Regulated	$0.21 per share	Up from $0.19 per share
Rhode Island Regulated	$0.05 per share	Up from $0.04 per share

Overall, PPL Corporation's total reported Revenue for the third quarter of 2025 was $2.24 billion, with nine months sales reaching $6,768 million.

Regulated Natural Gas Distribution Revenue: From gas utility operations in Kentucky and Rhode Island.

The natural gas distribution component is integrated within the Kentucky Regulated segment (Louisville Gas and Electric Company) and the Rhode Island Regulated segment (Rhode Island Energy). The Q3 2025 earnings growth in the Kentucky segment was partially attributed to higher sales volumes, which would include gas delivery.

The Rhode Island Energy subsidiary has a pending rate plan request, based on a test year ending August 31, 2025, designed to collect additional operating revenue of $180.7 million in the first year and $49.4 million in the second year across combined electric and gas base distribution rates.

Return on Equity (ROE): Earnings on capital investments approved by regulators.

The authorized Return on Equity is a critical determinant of utility earnings. For the Rhode Island rate filing, the requested authorized return on equity is set at 10.75%. This contrasts with the company's internal cost of equity, which was set at 10.05% effective October 1, 2025.

PPL Corporation is investing heavily to support future revenue, with a commitment of $4.3 billion in capital investment planned for 2025.

Reimbursable Costs: From large load customers like data centers for infrastructure upgrades.

PPL Electric Utilities is actively enabling data center expansion in Pennsylvania. The company has executed contracts with developers for projects in advanced stages where infrastructure costs being incurred are reimbursable by those developers if the projects do not proceed. These contracts obligate data center customers to pay a significant portion of a project's peak load until they cover the socialized cost of the upgrades.

The company's Distribution System Improvement Charge (DSIC) is another mechanism for cost recovery, set at a charge of 7.50% of billed distribution revenues for the period October 1, 2025, through December 31, 2025, to recover costs for repairing and improving eligible property.

Finance: draft 13-week cash view by Friday.