PPL also reaffirmed its planned infrastructure investments, targeting $12B in improvements from 2023 to 2026 to strengthen grid reliability and resiliency and economically replace aging coal generation with reliable, least-cost and clean energy sources. These investments are expected to result in 5.6% average annual rate base growth through 2026, with greater than 7% rate base growth in the back half of the plan. Also as outlined on Jan. 11, PPL has raised its target for annual operation and maintenance savings to at least $175M by 2026. The expected savings will be driven largely by transmission and distribution operations as PPL continues to deploy scalable technologies and data science across its utility portfolio. The company’s plan also continues to support a balance sheet that is among the best in the U.S. utility sector, supporting the company’s capital investment plan without the need to issue equity through at least 2026. PPL’s credit profile also reflects a projected Funds from Operations/Cash Flow from Operations to debt ratio of 16% to 18% throughout the planning period.
Published first on TheFly
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