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

PPL Corp. has increased its four-year capital expenditure plan by 15% to $23 billion, primarily due to increased spending on transmission and grid hardening. This comes as their utilities in Pennsylvania and Kentucky continue to secure agreements with data centers and large load customers, with a joint venture with Blackstone Infrastructure actively pursuing generation solutions for hyperscalers. The expanded investments also address the need for greater system resilience against extreme weather and aim to improve efficiency through structural savings and AI applications.