PPL said it and Blackstone Infrastructure have created a joint venture to build, own and operate new electricity generation stations for data centers in Pennsylvania, with PPL owning 51% and Blackstone Infrastructure owning 49%. However, no energy services agreements with hyperscalers have been signed as of the filing date of this Form 10-K.

1. 01

   PPL said it and Blackstone Infrastructure have created a joint venture to build, own and operate new electricity generation stations for data centers in Pennsylvania, with PPL owning 51% and Blackstone Infrastructure owning 49%. However, no energy services agreements with hyperscalers have been signed as of the filing date of this Form 10-K.

2. 02

   PPL said PPL Electric filed a request with the PAPUC on September 30, 2025 for an increase in distribution base rates of approximately $356 million, and RIE filed a request with the RIPUC on November 26, 2025 for rate increases designed to collect additional operating revenue of approximately $181 million in the first year.

3. 03

   PPL said its operating cash flow for 2025 increased $289 million compared with 2024. Net income increased $293 million, non-cash items increased $17 million, changes in working capital increased $13 million, and other operating activities decreased $34 million.

4. 04

   PPL said that as of December 31, 2025, PPL Capital Funding held $355 million in commercial paper and RIE held $101 million in commercial paper, with RIE's borrowing limit under the $1.5 billion syndicated credit facility at $400 million and adjustable within a range of $0 to $600 million.

Key figures

Fiscal year ended December 31, 2025

Revenue

$9.2B

Operating income

$2.1B

Net income

$1.2B

EPS

$1.59

Operating cash flow

$2.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.