PPL said the Federal Energy Regulatory Commission (FERC) issued Opinion No. 594 on March 19, 2026, addressing longstanding complaints beginning with Coakley v. Bangor Hydro-Elec. Co. The opinion covers return on equity (ROE) for New England transmission owners under the ISO New England tariff.

1. 01

   PPL said the Federal Energy Regulatory Commission (FERC) issued Opinion No. 594 on March 19, 2026, addressing longstanding complaints beginning with Coakley v. Bangor Hydro-Elec. Co. The opinion covers return on equity (ROE) for New England transmission owners under the ISO New England tariff.

2. 02

   The company said FERC adopted a new methodology for determining ROE and set the base ROE for NETOs at 9.57%, with a maximum including incentives not to exceed 12.09%. The changes are retroactive to October 16, 2014.

3. 03

   The company said the order affects Rhode Island Energy, a subsidiary, and that FERC ordered refunds with interest for certain periods affected by the decision. PPL and RIE are evaluating next steps, including coordinating with other NETOs and a possible appeal.

4. 04

   The company said it does not expect the order's potentially relevant components to have a material impact on its operations or financial condition. It also reaffirmed its 2026 earnings per share outlook of $1.90 to $1.98 per share and its annual EPS growth target of 6% to 8%.

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