U.K. Price Control Review Process Highlighted on New PPL Investor Web Page
ALLENTOWN, Pa., April 8, 2013 /PRNewswire/ -- With its United Kingdom subsidiary Western Power Distribution preparing for the next price control period, PPL Corporation (NYSE: PPL) has posted a Web page for investors providing information about the new review process and access to key filings and documents.
"Regulated businesses are integral to PPL's long-term growth, and WPD is the largest of our regulated businesses," said Joseph P. Bergstein, Investor Relations vice president. "The new Web page on the Investor section of PPL's website is designed to help investors understand the U.K. price control review process and track milestone events along the way."
The address is www.pplweb.com/investors/research-tools/uk-regulatory-review.
WPD owns and operates four electricity distribution networks in central and southwest England and south Wales that serve a total of 7.8 million customers. PPL's U.K. operations accounted for 49 percent of the corporation's 2012 earnings from ongoing operations.
The U.K.'s Office of Gas and Electricity Markets (Ofgem) regulates and establishes revenues for WPD. For the next review period – April 1, 2015, to March 31, 2023 – Ofgem is introducing RIIO-ED1, a modified approach for regulating electricity distribution networks. RIIO-ED1 is designed to encourage network operators to deliver safe, reliable and sustainable service at a long-term value to customers, while enabling them to finance infrastructure investments in a timely and efficient way.
PPL Corporation, with annual revenue of more than $12 billion, is one of the largest companies in the U.S. utility sector. PPL subsidiaries deliver electricity and natural gas to about 10 million customers in the United States and the United Kingdom, own more than 18,000 megawatts of generating capacity in the United States and sell energy in key U.S. markets. More information is available at www.pplweb.com.
SOURCE PPL Corporation