PPL spending plan jumps 15%, to $23B, on transmission, grid hardening

Group 1 - PPL Corp.'s electric utilities are actively signing agreements with potential data centers and large load customers in Pennsylvania and Kentucky [1] - A joint venture between PPL and Blackstone Infrastructure is negotiating with hyperscalers to provide power generation for data centers, with options for rapid development [2] - PPL Corp. has a capital expenditure plan of $23 billion for 2026-2029, reflecting a 15% increase primarily due to $2 billion in additional transmission spending [2] Group 2 - There are 25.2 GW of potential data centers in Pennsylvania with signed agreements, representing a 23% increase from the previous quarter [3] - The Kentucky Public Service Commission approved a $233 million annual increase in electric and gas revenue [4] - PPL expects a 33% increase in income for 2025, reaching $1.2 billion, influenced by one-time charges related to the acquisition of Rhode Island Energy and an IT transformation program [5] Group 3 - PPL Electric Utility in Pennsylvania is experiencing rapid growth in data center interconnection requests, anticipating at least 10 GW under electric supply agreements by the end of Q1 [5] - In Kentucky, PPL's subsidiaries have an 8 GW data center pipeline, with about half classified as "highly active," and an additional 1.1 GW of advanced manufacturing interconnection requests [6] - The joint venture with Blackstone is addressing the increasing demand for dedicated power supplies from data center customers by securing land for power plants and natural gas capacity [7] Group 4 - The joint venture is also exploring alternative generation solutions that can be operational sooner than the typical five years required for combined cycle power plants [7] - Technologies being considered could be operational by 2028-2029, compared to 2031-2032 for larger combined cycle gas turbines [8]