0000922224-14-000015.txt : 20140220 0000922224-14-000015.hdr.sgml : 20140220 20140220151318 ACCESSION NUMBER: 0000922224-14-000015 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20140220 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20140220 DATE AS OF CHANGE: 20140220 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PPL Corp CENTRAL INDEX KEY: 0000922224 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRIC SERVICES [4911] IRS NUMBER: 232758192 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11459 FILM NUMBER: 14629248 BUSINESS ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 BUSINESS PHONE: 610-774-5151 MAIL ADDRESS: STREET 1: TWO N NINTH ST CITY: ALLENTOWN STATE: PA ZIP: 18101-1179 FORMER COMPANY: FORMER CONFORMED NAME: PPL CORP DATE OF NAME CHANGE: 20000214 FORMER COMPANY: FORMER CONFORMED NAME: PP&L RESOURCES INC DATE OF NAME CHANGE: 19941123 8-K 1 form8k.htm FORM 8-K form8k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  February 17, 2014

Commission File
Number
Registrant; State of Incorporation;
Address and Telephone Number
IRS Employer
Identification No.
     
1-11459
PPL Corporation
(Exact name of Registrant as specified in its charter)
(Pennsylvania)
Two North Ninth Street
Allentown, PA  18101-1179
(610) 774-5151
23-2758192
     

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]
  
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]
  
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]
  
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]
  
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 


Section 7 – Regulation FD

Item 7.01 Regulation FD Disclosure

On February 17, 2014, PPL Corporation ("PPL") issued a press release announcing that its four Western Power Distribution subsidiaries had accepted the decision of the U.K. Office of Gas and Electricity Markets ("Ofgem") to set the real cost of equity at 6.4 percent in connection with Ofgem's ongoing price control review process related to the eight-year RIIO-ED1 regulatory period that begins April 1, 2015.  A copy of the press release is furnished as Exhibit 99.1 to this Report.




Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits

 
(d)
  
Exhibits
  
         
     
99.1 -
Press Release, dated February 17, 2014, announcing Ofgem's cost of equity decision relating to RIIO-ED1.
         
 
 

 
 

 
 
 




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


 
PPL CORPORATION
       
 
By:
/s/ Vincent Sorgi
  
   
Vincent Sorgi
Vice President and Controller
  



Dated:  February 20, 2014

 EX-99.1 2 exhibit99_1.htm EXHIBIT 99.1 exhibit99_1.htm
 
Exhibit 99.1
 

 

Contact:
  
For news media – George C. Lewis, 610-774-5997
   
For financial analysts – Joseph P. Bergstein, 610-774-5609
   
PPL Corporation


PPL’s United Kingdom Subsidiaries Accept Ofgem’s Cost of Equity Decision


ALLENTOWN, Pa. (Feb. 17, 2014) -- PPL Corporation (NYSE: PPL) said Monday (2/17) that its Western Power Distribution subsidiaries in the United Kingdom have accepted a decision by the Office of Electricity and Gas Markets (Ofgem) to set the real cost of equity at 6.4 percent as part of its ongoing price control review process.
Western Power Distribution’s four subsidiaries own and operate electricity distribution networks that serve 7.8 million customers in central and southwest England and south Wales.
Ofgem’s decision results in a slightly lower cost of equity than the 6.7 percent proposed in the business plans submitted by the WPD subsidiaries in July 2013, but by accepting the change they remain in Ofgem’s “fast tracking” process.
Plans submitted by the WPD subsidiaries were the only ones Ofgem determined to be suitable for accelerated consideration in the price control review process for electricity distribution networks, called RIIO-ED1, which will set base revenue requirements for an 8-year period beginning April 1, 2015.
The final fast tracking decision is expected Feb. 28.
Fast tracking affords several benefits to the WPD subsidiaries, including the ability to collect additional revenue equivalent to 2.5 percent of total annual expenditures, or approximately $35 million annually, greater revenue certainty and a higher level of cost savings retention.
The cost of equity change does not affect the projected earnings ranges for the U.K. Regulated business segment that PPL Corporation announced when the RIIO-ED1 business plans were filed in July 2013.
The business plans submitted by WPD subsidiaries, and key milestones in the RIIO-ED1 process, are posted on PPL’s website.
 PPL Corporation, with 2013 revenues of $12 billion, is one of the largest companies in the U.S. utility sector. The PPL family of companies delivers electricity and natural gas to about 10 million customers in the United States and the United Kingdom, owns more than 18,000 megawatts of generating capacity in the United States and sells energy in key U.S. markets. More information is available at www.pplweb.com.



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Note to Editors: Visit our media website at www.pplnewsroom.com for additional news and background about PPL Corporation.