Pennsylvania Power and Light
 |
|
| Public | |
| Traded as | : PPL S&P 500 Component |
| Industry | Electric utilities |
| Founded | 1920 |
| Headquarters | Allentown, Pennsylvania, USA |
|
Key people
|
William H. Spence (Chairman, President and CEO) |
| Revenue |
 US$7.517 billion (Q4 2016) |
|
US$1.902 billion (Q4 2016) |
|
|
Number of employees
|
18,963 (Q4 2016) |
| Website | www |
The PPL Corporation is an energy company headquartered in Allentown, Pennsylvania, USA. It currently controls about 8,000 megawatts of regulated electric generating capacity in the United States and delivers electricity to 10.5 million customers in Pennsylvania, Kentucky, and Great Britain. It also provides natural gas delivery service to 321,000 customers in Kentucky. PPL Electric Utilities (formerly known as PP&L and Pennsylvania Power and Light) is the PPL Corporation's primary subsidiary.
The majority of PPL's power plants burn coal, oil, or natural gas. PPL also owns peaking plants, which require few operators and have a high profit margin due to their ability to rapidly come online when the price of electricity spikes.
The company is publicly traded on the under ticker symbol : PPL.
PPL was founded in 1920 out of a merger of eight smaller Pennsylvania utilities. It gradually extended its service territory to a crescent-shaped region of central and northeastern Pennsylvania stretching from Lancaster, through the Lehigh Valley into Scranton and Wilkes-Barre.
The company limited its activities to Pennsylvania until deregulation of electrical utilities in the 1990s encouraged PPL to purchase assets in other states. The largest of these transactions was PPL's 1998 purchase of 13 plants from Montana Power (leaving NorthWestern Energy - the buyer of the former Montana Power transmission and distribution systems - vulnerable to high "spot" prices on the energy market). This added over 2,500 MW of capacity and was the largest expansion in PPL's history. In 2014, those hydroelectric facilities were sold to NorthWestern.
In May 2002, PPL announced that Robert G. Byram, PPL's chief nuclear officer since 1997, was retiring from the company. Bryce L. Shriver, who had served as vice president-Nuclear Site Operations at PPL's Susquehanna plant since 2000, became senior vice president and chief nuclear officer.
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Wikipedia