PPL Corporation (PPL): Business Model Canvas [Jan-2025 Mise à jour]

Dans le paysage dynamique de la fourniture d'énergie, PPL Corporation apparaît comme une puissance stratégique, fabriquant méticuleusement son modèle commercial pour naviguer sur le terrain complexe de la production d'électricité, de la distribution et de l'innovation durable. Avec une approche globale qui mélange de manière transparente la production d'électricité traditionnelle avec des technologies renouvelables de pointe, la toile du modèle commercial de PPL révèle une stratégie multiforme conçue pour répondre aux demandes en évolution des consommateurs d'énergie résidentiels, commerciaux et industriels. De l'infrastructure avancée du réseau à l'engagement des clients personnalisés, cette exploration dévoilera les mécanismes complexes qui stimulent le succès de PPL dans l'écosystème énergétique toujours transformé.

PPL Corporation (PPL) - Modèle d'entreprise: partenariats clés

Sociétés de services publics et distributeurs régionaux de l'électricité

PPL Corporation collabore avec plusieurs partenaires régionaux de distribution d'électricité dans ses territoires opérationnels:

Région	Partenaires de distribution	Aire de service
Pennsylvanie	PLPL Electric Utilities	66 000 miles carrés
Kentucky	Louisville Gas and Electric	28 comtés
Royaume-Uni	Distribution de puissance occidentale	29 000 kilomètres carrés

Fournisseurs de technologies d'énergie renouvelable

La stratégie de partenariat en énergie renouvelable de PPL comprend:

• Vestas Wind Systems A / S pour la technologie des éoliennes
• Première installations solaires pour les panneaux photovoltaïques
• Général électrique pour les solutions de stockage d'énergie à l'échelle du réseau

Agences de réglementation gouvernementales

Agence	Juridiction réglementaire	Focus de la conformité
Commission des services publics de Pennsylvanie	Règlement au niveau de l'État	Prix ​​d'électricité et infrastructure
Commission de la fonction publique du Kentucky	Règlement au niveau de l'État	Normes de service des services publics
Commission de réglementation de l'énergie fédérale	Surveillance au niveau fédéral	Transmission d'électricité interétatique

Fabricants et fournisseurs d'équipement

Les partenariats d'équipement critiques de la PPL comprennent:

• Siemens pour les infrastructures de transmission
• ABB pour les composants du réseau électrique
• Schneider Electric for Smart Grid Technologies

Organisations environnementales et de durabilité

Organisation	Focus de partenariat	Initiatives de collaboration
Fonds mondial de la faune	Stratégies de réduction du carbone	Développement d'énergie renouvelable
Fonds de défense environnementale	Réduction des émissions	Transition d'énergie propre
Groupe d'énergie propre	Infrastructure durable	Modernisation de la grille

PPL Corporation (PPL) - Modèle d'entreprise: activités clés

Génération d'électricité et transmission électrique

PPL Corporation génère environ 19 700 mégawatts d'électricité dans plusieurs régions. L'infrastructure de transmission s'étend sur 51 000 miles de circuit.

Type de génération	Capacité (MW)	Pourcentage
Gaz naturel	10,300	52.3%
Charbon	5,600	28.4%
Énergie renouvelable	3,800	19.3%

Maintenance des infrastructures de grille

L'investissement annuel des infrastructures totalise 1,2 milliard de dollars, en se concentrant sur la modernisation et les améliorations de la fiabilité.

• Déploiement de la technologie de la grille intelligente
• Mises à niveau de la sous-station
• Amélioration de la résilience du réseau de distribution

Développement d'énergie renouvelable

PPL cible 8 000 MW de capacité d'énergie renouvelable d'ici 2030.

Source renouvelable	Capacité actuelle (MW)
Solaire	1,200
Vent	2,600

Mise en œuvre du programme d'efficacité énergétique

Investissement annuel du programme d'efficacité énergétique: 180 millions de dollars.

• Outils de gestion de l'énergie client
• Initiatives de réponse à la demande
• Programmes de conservation de l'énergie

Service client et gestion de l'énergie

SERT 10,5 millions de clients dans plusieurs États avec un budget de service client annuel de 220 millions de dollars.

Métrique de service	Performance
Évaluation de satisfaction du client	4.2/5
Temps de réponse moyen	45 minutes

PPL Corporation (PPL) - Modèle d'entreprise: Ressources clés

Installations de production d'électricité

PPL Corporation possède et exploite des installations de production d'électricité dans plusieurs États et régions:

Type de génération	Capacité (MW)	Nombre d'installations
Gaz naturel	3,342	7
Énergie renouvelable	1,245	12
Nucléaire	1,672	2

Infrastructure de transmission et de distribution

Le réseau de transmission et de distribution de PPL comprend:

• Longueur totale de ligne de transmission: 15 673 miles
• Longueur de ligne de distribution: 42 891 miles
• Nombre de sous-stations: 521
• Territoires de service au Kentucky, en Pennsylvanie et au Royaume-Uni

Main-d'œuvre technique qualifiée

PPL Corporation Workforce Composition:

Catégorie des employés	Nombre d'employés
Total des employés	7,253
Personnel technique / génie	2,456
Personnel des opérations	3,124

Technologies avancées de gestion de l'énergie

Investissements et capacités technologiques:

• Investissement technologique intelligent: 312 millions de dollars
• Couverture d'infrastructure de mesure avancée: 1,4 million de clients
• Budget d'infrastructure de cybersécurité: 45 millions de dollars par an

Capital financier pour les investissements des infrastructures

Ressources financières pour le développement des infrastructures:

Métrique financière	Montant
Total des dépenses en capital (2023)	1,8 milliard de dollars
Budget d'investissement des infrastructures	2,3 milliards de dollars (2024-2026)
Equivalents en espèces et en espèces	567 millions de dollars

PPL Corporation (PPL) - Modèle d'entreprise: propositions de valeur

Alimentation électrique fiable aux clients résidentiels et commerciaux

PPL Corporation dessert environ 1,5 million de clients électriques en Pennsylvanie et 1,3 million de clients dans le Kentucky. La société maintient une capacité de production totale de 13 115 MW dans ses centrales électriques.

Segment de clientèle	Nombre de clients	Territoire de service
Clients résidentiels	1,500,000	Pennsylvanie
Clients commerciaux	1,300,000	Kentucky

Solutions énergétiques propres et durables

PPL s'est engagé à réduire les émissions de carbone de 70% d'ici 2030 par rapport aux niveaux de 2010. L'entreprise génère actuellement:

• 33% de l'électricité provenant de sources renouvelables et nucléaires
• A investi 1,2 milliard de dollars dans une infrastructure d'énergie propre

Programmes de tarification et d'efficacité énergétique compétitifs

PPL propose des programmes d'efficacité énergétique avec un budget annuel de 65 millions de dollars. Les taux d'électricité résidentiel moyens sont:

État	Taux résidentiel moyen
Pennsylvanie	0,14 $ par kWh
Kentucky	0,11 $ par kWh

Technologies avancées du réseau et gestion de l'énergie intelligente

Ppl a investi 450 millions de dollars Dans les technologies de modernisation de la grille, notamment:

• Déploiement de compteur intelligent couvrant 98% du territoire de service
• Systèmes avancés de gestion de la distribution
• Infrastructure automatisée de gestion des panneaux

Engagement de durabilité environnementale

Les mesures de durabilité environnementale de la PPL comprennent:

• Réduit les émissions de CO2 de 2,8 millions de tonnes métriques en 2022
• Engagé dans les émissions de carbone nettes de zéro d'ici 2050
• Portefeuille d'énergie renouvelable s'étendant à 5 000 MW d'ici 2030

PPL Corporation (PPL) - Modèle d'entreprise: relations avec les clients

Plateformes de service client numérique

PPL exploite une plate-forme de service client numérique complète avec les mesures suivantes:

Canal numérique	Utilisation annuelle	Taux de satisfaction client
Utilisateurs d'applications mobiles	1,2 million	4.3 / 5
Portail d'assistance en ligne	3,5 millions d'interactions	Taux de résolution de 89%
Support des médias sociaux	85 000 demandes de renseignements clients résolus	Temps de réponse de 92% en moins de 2 heures

Rapports de consommation d'énergie personnalisés

PPL fournit des informations détaillées sur la consommation d'énergie à travers:

• Rapports d'énergie numérique mensuels
• Suivi de consommation en temps réel
• Analyse d'utilisation comparative

Fonctionnalité de rapport	Inscription	Économies annuelles
Rapports d'énergie personnalisés	672 000 clients	14,3 millions de dollars d'économies potentielles

Facturation en ligne et gestion des comptes

La plate-forme de gestion des comptes numériques de PPL comprend:

• Options de facturation sans papier
• Systèmes de paiement automatisés
• Programmes de facturation budgétaire

Fonctionnalité de facturation numérique	Taux d'adoption	Volume de transaction annuel
Payage des factures en ligne	78% des clients	42,6 millions de transactions
Facturation sans papier	65% d'inscription	Économies de coûts de 1,2 million de dollars

Services de consultation de l'efficacité énergétique

PPL propose des programmes d'efficacité énergétique spécialisés:

Service de consultation	Participants annuels	Économies d'énergie
Audit d'énergie à domicile	45 000 clients	12% de réduction d'énergie moyenne
Évaluation de l'énergie commerciale	3 200 entreprises	22,7 millions de dollars d'économies totales

Programmes d'engagement et de soutien communautaires

Les initiatives de soutien communautaire de la PPL comprennent:

Programme	Investissement annuel	Impact communautaire
Programme d'assistance énergétique	8,6 millions de dollars	92 000 ménages soutenus
Subventions au développement communautaire	3,4 millions de dollars	127 projets locaux financés

PPL Corporation (PPL) - Modèle d'entreprise: canaux

Portail client en ligne

Le portail client en ligne de PPL offre un accès numérique à la gestion des comptes et aux services énergétiques.

Caractéristique du portail	Statistiques d'utilisation
Utilisateurs actifs mensuels	687,432
Transactions de paiement de factures en ligne	2,3 millions par an
Engagement du tableau de bord d'utilisation de l'énergie	58% des utilisateurs enregistrés

Application mobile

L'application mobile de PPL offre des fonctionnalités complètes de gestion des services publics.

Métriques d'application mobile	Points de données
Total des téléchargements d'applications	412,000
Utilisateurs actifs mensuels moyens	276,500
Note de l'App Store	4.3/5

Centres d'appels de service client

• Centres d'appels totaux: 3 emplacements
• Volume d'appels annuel: 1,8 million d'appels
• Temps de réponse moyen: 3,2 minutes
• Taux de satisfaction client: 87%

Centres de service physique

Détails du centre de service	Métrique
Emplacements physiques totaux	12 centres de service
Visites des clients annuels	342,000
Temps d'attente moyen	17 minutes

Ventes directes et marketing

PPL utilise des stratégies de marketing ciblées sur plusieurs canaux.

Canal de marketing	Investissement annuel
Marketing numérique	4,2 millions de dollars
Campagnes de publipostage	1,7 million de dollars
Sensibilisation communautaire	$890,000

PPL Corporation (PPL) - Modèle d'entreprise: segments de clientèle

Consommateurs d'électricité résidentielle

PPL dessert environ 1,4 million de clients résidentiels à travers la Pennsylvanie et le Kentucky en 2023.

Région	Nombre de clients résidentiels	Consommation d'électricité mensuelle moyenne
Pennsylvanie	1,100,000	850 kWh
Kentucky	300,000	1 100 kWh

Entreprises commerciales et industrielles

PPL dessert plus de 135 000 clients commerciaux et industriels dans ses territoires de service.

• Grandes installations de fabrication
• Petites et moyennes entreprises
• Commerces de détail
• Institutions de soins de santé

Segment d'entreprise	Nombre de clients	Consommation d'électricité annuelle
Fabrication	35,000	12,5 millions de MWh
Commercial	85,000	6,8 millions de MWh
Institutionnel	15,000	3,2 millions de MWh

Entités municipales et gouvernementales

PPL fournit des services d'électricité à 250 clients municipaux et gouvernementaux dans ses zones de service.

• Gouvernements municipaux
• Bureaux administratifs du comté
• Installations d'État
• Infrastructure publique

Secteur agricole

PPL dessert environ 5 000 clients agricoles avec des solutions électriques spécialisées.

Sous-segment agricole	Nombre de clients	Utilisation annuelle moyenne de l'électricité
Opérations agricoles	3,500	250 000 kWh
Traitement agricole	1,500	750 000 kWh

Consommateurs d'énergie à l'échelle des services publics

PPL prend en charge 75 consommateurs d'énergie à l'échelle des services publics avec une transmission électrique à haut volume.

Type de consommateur	Nombre de clients	Transmission d'électricité annuelle
Grands opérateurs de grille	25	35 millions de mwh
Organisations de transmission régionale	50	22 millions de mwh

PPL Corporation (PPL) - Modèle d'entreprise: Structure des coûts

Maintenance d'infrastructure de production d'électricité

Les coûts de maintenance des infrastructures de PPL Corporation en 2023 ont totalisé 987,3 millions de dollars, avec une répartition spécifique comme suit:

Catégorie d'infrastructure	Coût de maintenance annuel
Installations de production d'électricité	456,2 millions de dollars
Infrastructure de transmission	312,5 millions de dollars
Réseau de distribution	218,6 millions de dollars

Aachat de carburant et d'énergie

Les frais d'approvisionnement en énergie de PPL pour 2023 ont atteint 1,2 milliard de dollars, le mélange de carburant suivant:

• Gaz naturel: 542,7 millions de dollars
• Charbon: 387,3 millions de dollars
• Sources d'énergie renouvelables: 270 millions de dollars

Compensation et formation des employés

Compensation totale de la main-d'œuvre pour 2023:

Catégorie de compensation	Coût total
Salaires de base	678,4 millions de dollars
Avantages	215,6 millions de dollars
Formation et développement	42,3 millions de dollars

Frais de conformité réglementaire

Les coûts de conformité réglementaire en 2023 ont totalisé 215,7 millions de dollars, notamment:

• Conformité environnementale: 89,5 millions de dollars
• Règlements sur la sécurité: 62,3 millions de dollars
• Dépenses de rapport et d'audit: 63,9 millions de dollars

Investissements de technologie et d'innovation

Attribution des investissements technologiques pour 2023:

Catégorie de technologie	Montant d'investissement
Infrastructure numérique	156,4 millions de dollars
Modernisation de la grille	224,6 millions de dollars
Cybersécurité	87,2 millions de dollars

Structure totale des coûts: 2,6 milliards de dollars pour l'exercice 2023

PPL Corporation (PPL) - Modèle d'entreprise: Strots de revenus

Ventes d'électricité aux clients résidentiels

En 2022, PPL Corporation a annoncé des ventes d'électricité résidentielle de 48,9 milliards de kilowattheures dans ses territoires de service. Le taux d'électricité résidentiel moyen était de 0,14 $ par kilowatt-heure, générant environ 6,85 milliards de dollars de revenus résidentiels.

Territoire de service	Clients résidentiels	Ventes d'électricité (KWH)	Revenus ($)
Kentucky	524,000	16,2 milliards	2,27 milliards
Pennsylvanie	1,2 million	22,7 milliards	3,18 milliards
Royaume-Uni	330,000	10 milliards	1,4 milliard

Contrats d'électricité commerciaux et industriels

Les ventes d'électricité commerciale et industrielle ont atteint 62,3 milliards de kilowattheures en 2022, avec un chiffre d'affaires total de 8,75 milliards de dollars. Le taux commercial moyen était de 0,14 $ par kilowatt-heure.

• Grands clients industriels: 35,6 milliards de kWh
• Clients commerciaux moyens: 26,7 milliards de kWh

Ventes de crédit d'énergie renouvelable

PPL Corporation a généré 127 millions de dollars à partir des ventes de crédit aux énergies renouvelables en 2022. La société a vendu 2,4 millions de crédits d'énergie renouvelable à un prix moyen de 52,90 $ par crédit.

Frais de transmission de la grille

Les revenus de transmission pour PPL Corporation ont totalisé 1,2 milliard de dollars en 2022. La société exploite environ 16 000 miles de lignes de transmission sur ses territoires de service.

Type de ligne de transmission	Kilomètres	Revenus par mile ($)
Transmission haute tension	8,500	75,000
Transmission de tension moyenne	7,500	55,000

Revenus du programme d'efficacité énergétique

Les programmes d'efficacité énergétique de PPL ont généré 94 millions de dollars en 2022. Ces programmes comprenaient des initiatives de réponse à la demande et des services de gestion de l'énergie pour les clients commerciaux et résidentiels.

• Programmes d'efficacité énergétique résidentiels: 42 millions de dollars
• Programmes commerciaux de l'efficacité énergétique: 52 millions de dollars

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.