PPL CORPORATION Item 8.01 Other Events
On
The agreement proposes increases in annual electricity revenues of
The agreement among the parties proposes that the KPSC should grant the Companies' certificates of public convenience and necessity related to the implementation of an Advanced Metering Infrastructure ("AMI") project, as well as the proposed accounting and ratemaking treatment for the project. Recovery of these expenditures will be addressed in a proceeding subsequent to full implementation of the AMI project.
The agreement also proposes the establishment of a Retired Asset Recovery Rider
("RARR") to provide recovery of and return on the remaining investment in
certain electric generating units upon their retirement over a 10 year period.
In respect of the RARR, the agreement proposes that the Companies will continue
to use the currently approved depreciation rates for
The agreement includes a four-year "stay out" commitment from the Companies to
refrain from effective base rate increases before
The Companies' requested changes to net metering regarding customer solar power installations and related rates and tariffs are not covered by the agreement.
A KPSC hearing on the agreement, and the underlying proceedings, is scheduled to
commence on
The proceedings are designated as KPSC Case No. 2020-0350 for LG&E and Case No. 2020-00349 for KU.
The Companies cannot predict the outcome of these proceedings.
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Statements in this report regarding future events and their timing, including
the Companies' proposed rate changes, future rates, rate mechanisms or returns
on equity, as well as statements as to future costs or expenses, regulation,
corporate strategy and performance, are "forward-looking statements" within the
meaning of the federal securities laws. Although the Companies believe that the
expectations and assumptions reflected in these forward-looking statements are
reasonable, these expectations, assumptions and statements are subject to a
number of risks and uncertainties, and actual results may differ materially from
the results discussed in the statements. The following are among the important
factors that could cause actual results to differ materially from the
forward-looking statements: subsequent phases of rate proceedings and regulatory
cost recovery; market demand and prices for electricity and natural gas;
political, regulatory or economic conditions in states and regions where the
Companies conduct business; and the progress of actual construction, purchase or
installation of assets or operations subject to tracker mechanisms. All
forward-looking statements should be considered in light of these important
factors and in conjunction with
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