01—Abstract
Summary
Summary of the 8-K filed August 17, 2026. Cited figures are marked; the original filing is the authoritative source.
PPL Corporation, together with its subsidiaries Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU), filed this Form 8-K to report an August 14, 2026 order from the Kentucky Public Service Commission (KPSC) in the Companies' base rate proceedings.
The order addresses the Companies' requests for rehearing of the KPSC's February 2026 orders that granted increases in annual electricity and gas revenues. The KPSC granted rehearing on several elements, including incorporating regulatory assets and liabilities in rate base calculations and their recovery, using updated cost estimates in a potential recovery cap under the Pilot Generation Recovery Clause mechanism, and allowing pre-2026 costs to be included in a regulatory asset for LG&E's stay-open costs related to Mill Creek Unit 2. The KPSC denied other elements of the rehearing requests, including reinstatement of certain aspects of an October 2025 stipulation and recommendation of the Companies and certain intervenors.
The Companies estimate the order represents increases of approximately $4 milliona in annual LG&E electricity and gas revenues and approximately $3 million in annual KU electricity revenues above the amounts in the February 2026 order. The revised rates are effective for services on and after the order date. PPL Corporation reaffirmed its previously disclosed long-term earnings per share growth targets in connection with the order.
02—Key points
Key Highlights
- KPSC order dated August 14, 2026 addresses rehearing requests on the February 2026 base rate orders for LG&E and KU.
- Order granted rehearing on several items, including rate base treatment of regulatory assets and liabilities and the Pilot Generation Recovery Clause cap using updated cost estimates.
- Order allows pre-2026 costs in a regulatory asset for LG&E's Mill Creek Unit 2 stay-open costs.
- Order denied other requests, including reinstating certain aspects of the October 2025 stipulation and recommendation.
- Estimated incremental annual revenue increases of approximately $4 million for LG&E electricity and gas and approximately $3 million for KU electricity.
- Revised rates are effective for services on and after the order date.
- PPL Corporation reaffirmed its previously disclosed long-term earnings per share growth targets.
03—Questions
Frequently Asked Questions
What did the KPSC order decide?
The KPSC order, issued August 14, 2026, partly granted and partly denied the Companies' rehearing requests on the KPSC's February 2026 base rate orders, covering rate base treatment, the Pilot Generation Recovery Clause cap, Mill Creek Unit 2 stay-open costs, and certain stipulation terms.
How much additional revenue does the order represent?
The Companies estimate the order represents increases of approximately $4 million in annual LG&E electricity and gas revenues and approximately $3 million in annual KU electricity revenues, above the amounts in the February 2026 order.
When do the revised rates take effect?
The revised rates are effective for services on and after the date of the August 14, 2026 order.
Does this change PPL's earnings outlook?
In connection with the order, PPL Corporation reaffirmed its previously disclosed long-term earnings per share growth targets.
Which requests did the KPSC deny?
The KPSC denied other elements of the rehearing requests, including seeking reinstatement of certain aspects of a prior October 2025 stipulation and recommendation of the Companies and certain intervenors in the rate increase proceedings.
04—Continue