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PPL Q1 Electricity Sales Slip, Plans $23 Billion Investment Through 2029

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-- PPL (PPL) reported Q1 earnings Friday, showing total electricity sales of 18.27 terawatt-hours, slightly down from 18.39 TWh a year earlier.

The company's retail deliveries in Pennsylvania totaled 10.32 TWh for the quarter ended March 31, up from 10.14 TWh a year earlier.

Kentucky's total retail electricity deliveries fell to 7.65 TWh from 7.80 TWh, while Kentucky wholesale electricity sales declined to 308 gigawatt-hours in the quarter from 439 GWh a year earlier.

Total Kentucky sales for the quarter were 7.95 TWh, compared with 8.24 TWh in the corresponding period a year ago.

The utility plans to complete $5.1 billion of infrastructure investments in 2026 to modernize electric and gas networks, improve reliability and expand generation resources in Kentucky.

PPL expanded its Pennsylvania data center pipeline to 28.3 GW in advanced stages during Q1, up from 25.2 GW in Q4, while about 10 GW now operates under Electric Service Agreements and 5 GW remains under construction.

The company's Kentucky economic development pipeline reached 12.9 GW of potential new load through 2032, compared with 8.2 GW in the previous update, driven largely by more than 11.9 GW tied to data centers.

PPL plans to invest about $23 billion from 2026 through 2029, including roughly 2,000 megawatts of natural gas generation, 240 MW of solar projects and over 500 MW of battery storage capacity, the company added.

Price: $36.65, Change: $-0.13, Percent Change: -0.34%

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