PPL · PPL Corporation

Summary

On March 19, 2026, FERC issued Opinion No. 594 setting base ROE at 9.57% (maximum 12.09% including incentives) for New England transmission owners, retroactive to October 16, 2014, and ordering refunds with interest, affecting PPL subsidiary Rhode Island Energy. PPL expects no material impact on operations or financial condition and reaffirms 2026 EPS forecast of $1.90 to $1.98 per share and 6% to 8% annual EPS growth through at least 2029.

Key takeaways

• FERC Opinion No. 594 issued March 19, 2026, sets NETOs base ROE at 9.57%, max 12.09% with incentives, retroactive to October 16, 2014
• Order requires refunds with interest for affected periods
• Impacts Rhode Island Energy, wholly-owned PPL subsidiary
• PPL and RIE evaluating next steps, including potential appeal
• PPL reaffirms 2026 EPS guidance $1.90-$1.98 and 6%-8% EPS growth target through 2029