Molly Ayala
PPL Corporation, formerly known as Pennsylvania Power & Light, is a large energy company that serves millions of customers across the United States. As of 2022, PPL Corporation boasted $7.9 billion in revenue, $37 billion in assets, and 6,500 employees. With a century-long history, the company has expanded its operations beyond Pennsylvania and now provides electricity to a wide range of customers. PPL Electric Utilities, a subsidiary of PPL Corporation, serves 1.4 million customers across 29 counties in Pennsylvania.
| Characteristics | Values |
|---|---|
| Number of employees | 6,500 |
| Revenue | $7.9 billion |
| Assets | Over $37 billion |
| Customers | 3.6 million |
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What You'll Learn
PPL Corporation's employee count
PPL Corporation, formerly known as Pennsylvania Power & Light, is a publicly traded company on the New York Stock Exchange. As of 2022, it boasted $7.9 billion in revenue, 6,500 employees, and over $37 billion in assets. The company has come a long way since its founding in 1920 as the product of a merger between eight smaller utility companies based in Pennsylvania. Over time, it expanded its reach to a crescent-shaped region in central and northeastern Pennsylvania, spanning from Lancaster in the centre to Scranton and Wilkes-Barre in the northeast.
PPL Corporation has undergone significant growth and evolution since its early days as a regional utility provider. In 2010, the company expanded its footprint by acquiring two regulated Kentucky-based utilities: Louisville Gas & Electric and Kentucky Utilities. This expansion solidified PPL's presence in the energy sector and demonstrated its commitment to growth.
PPL Corporation's subsidiaries have consistently ranked high in customer satisfaction studies. PPL Electric Utilities, serving 1.4 million customers across 29 counties in Pennsylvania, has been recognised with 30 J.D. Power and Associates awards for its exceptional customer service. Louisville Gas and Electric, along with Kentucky Utilities, has also excelled in customer satisfaction, serving 1.3 million customers across nearly 100 counties in Kentucky and Virginia and earning 28 J.D. Power awards.
In addition to its focus on customer satisfaction, PPL Corporation has demonstrated a strong commitment to environmental sustainability. The company has set a goal to achieve net-zero carbon emissions by 2050, investing in replacing end-of-life coal plants with natural gas, renewables, and energy storage solutions. PPL Corporation is also investing billions in infrastructure upgrades and advanced technologies to create a smarter, more reliable, and resilient energy grid.
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PPL's revenue and assets
PPL Corporation, formerly known as Pennsylvania Power & Light Company, is a publicly traded company on the New York Stock Exchange. It was founded in 1920 as a result of the merger of eight smaller utility companies based in Pennsylvania.
As of 2022, PPL recorded $7.9 billion in revenue, with over $37 billion in assets. The company has shown consistent revenue growth, with $8.31 billion in 2023 and $8.46 billion in 2024. As of May 2025, PPL's TTM revenue is $8.66 billion.
PPL has invested heavily in improving its infrastructure and technology. In 2019, the company completed a $470 million investment in replacing meters with advanced meters in Pennsylvania. PPL has also committed to a robust capital plan that includes $20 billion in infrastructure improvements through 2028, aiming to create a smarter, more reliable, and resilient energy grid.
PPL's companies, including PPL Electric Utilities and Louisville Gas and Electric, consistently rank high in customer satisfaction studies. PPL Electric Utilities serves 1.4 million customers in 29 counties in Pennsylvania and has received 30 J.D. Power and Associates awards for customer satisfaction. Louisville Gas and Electric, along with Kentucky Utilities, serves 1.3 million customers across Kentucky and Virginia and has won 28 J.D. Power awards.
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Customer base of PPL Electric Utilities
PPL Corporation, the parent company of PPL Electric Utilities, serves 3.6 million customers and has a revenue of $7.9 billion as of 2022. PPL Electric Utilities serves 1.4 million customers across 29 counties in Pennsylvania. The company has consistently ranked high in customer satisfaction studies, receiving 30 J.D. Power and Associates awards for customer satisfaction.
PPL Corporation was founded as Pennsylvania Power & Light in 1920 through the merger of eight smaller utility companies based in Pennsylvania. Over time, it expanded its service territory to central and northeastern Pennsylvania, including Lancaster, the Lehigh Valley, Scranton, and Wilkes-Barre.
In recent years, PPL Corporation has diversified its operations and expanded its customer base through acquisitions and strategic initiatives. In 2010, the company acquired two regulated Kentucky-based utilities, Louisville Gas & Electric and Kentucky Utilities, which collectively serve 1.3 million customers across Kentucky and Virginia. PPL Corporation has also ventured into the UK market by acquiring two regional electricity distribution companies in 2011.
PPL Electric Utilities is committed to providing seamless and convenient services to its customers. Their mobile-friendly website enables customers to easily manage their electric service and address concerns about energy costs. Additionally, PPL offers payment plans and assistance programs to support families from various income backgrounds.
The company is focused on building advanced cleaner energy technologies and has invested billions in infrastructure improvements. By replacing meters with advanced meters, PPL demonstrates its commitment to creating a smarter and more reliable energy grid. PPL Corporation has set a goal to achieve net-zero carbon emissions by 2050, focusing on replacing end-of-life coal plants with natural gas, renewables, and energy storage solutions.
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PPL's history and acquisitions
PPL Corporation, formerly known as Pennsylvania Power & Light, was founded in 1920 through the merger of eight smaller Pennsylvania-based utility companies. Over time, PPL expanded its service territory to central and northeastern Pennsylvania, including Lancaster, Lehigh Valley, Scranton, and Wilkes-Barre.
In 1995, the company restructured as a holding company, and in 2000, PP&L Resources was renamed PPL Corporation. This marked a shift in strategy, as PPL began to explore opportunities outside of Pennsylvania following the deregulation of electrical utilities in the 1990s.
PPL Corporation has a strong focus on customer satisfaction and has consistently ranked highly in customer satisfaction studies. As of 2022, the company recorded $7.9 billion in revenue, employed 6,500 people, managed over $37 billion in assets, and served 3.6 million customers.
In terms of acquisitions, PPL has made significant moves to expand its reach and diversify its energy portfolio. In 2010, the company acquired two regulated Kentucky-based utilities: Louisville Gas & Electric and Kentucky Utilities. This expansion into Kentucky marked a strategic move to strengthen its presence in the energy sector. In the same year, PPL also acquired the naming rights to the stadium of the Philadelphia Union, a Major League Soccer team, in a deal that included providing sustainable energy to the venue.
In 2011, PPL continued its growth trajectory by acquiring two regulated regional electricity distribution companies in the United Kingdom. This international expansion demonstrated PPL's commitment to becoming a leading global energy company.
PPL has also made strategic divestments to focus on its core business. In 2014, the company announced the spinoff of its electrical generation facilities into a new company, Talen Energy, allowing PPL to concentrate on transmission and distribution. As part of this transition, PPL sold its hydroelectric facilities to NorthWestern.
In 2020, PPL initiated a process to sell its UK subsidiary, Western Power Distribution (WPD), to focus solely on the U.S. market. This resulted in the sale of WPD to National Grid plc and the simultaneous acquisition of Narragansett Electric Company, a Rhode Island-based electric and gas utility, for $3.8 billion. The sale of Narragansett Electric Company was finalized in 2022, and the company was renamed Rhode Island Energy.
Throughout its history, PPL has consistently invested in infrastructure and technology upgrades, with a recent focus on developing advanced cleaner energy technologies. The company has committed to achieving net-zero carbon emissions by 2050 while maintaining affordability and reliability for its customers.
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PPL's headquarters and service areas
PPL Corporation is an energy company headquartered in Allentown, Pennsylvania, in the Lehigh Valley region of eastern Pennsylvania. The company's headquarters are located at the intersection of Hamilton and 9th streets in Center City Allentown. The PPL Building, which serves as the company's headquarters, is a 24-story building that stands at a height of 322 feet (98 m). It was the tallest building in Allentown and the greater Lehigh Valley metropolitan area as of 2023.
PPL Corporation has a long history in Pennsylvania, dating back to its founding as Pennsylvania Power & Light in 1920. The company was formed through the merger of eight smaller utility companies based in Pennsylvania. Over time, PPL gradually expanded its service territory to cover a crescent-shaped region in central and northeastern Pennsylvania. This region includes Lancaster, the Lehigh Valley, Scranton, and Wilkes-Barre.
In 1995, the company underwent a reorganization and became a holding company. As part of this transition, PP&L Resources was renamed PPL Corporation in 2000. This shift marked a period where the company limited its operations primarily to Pennsylvania. However, with the deregulation of electrical utilities in the 1990s, PPL began to explore opportunities beyond the state.
Today, PPL Corporation has a diverse range of operations and serves millions of customers. As of 2022, the company reported $7.9 billion in revenue, a workforce of 6,500 employees, over $37 billion in assets, and a customer base of 3.6 million. PPL has expanded its reach through acquisitions, such as the purchase of Louisville Gas & Electric and Kentucky Utilities, serving Kentucky and Virginia. Additionally, PPL has ventured into the United Kingdom's energy market by acquiring regional electricity distribution companies.
PPL Corporation is committed to creating stronger and smarter utilities that leverage technology to benefit customers and shareholders. The company has invested heavily in advanced infrastructure and technology, aiming for a more reliable and resilient energy grid. This includes initiatives such as replacing meters with "advanced" meters and focusing on cleaner energy technologies through its "Energy Forward" strategy. PPL Corporation also strives to achieve net-zero carbon emissions by 2050, adopting renewable energy sources and modernizing its grid infrastructure.
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Frequently asked questions
As of 2022, PPL Corporation had 6,500 employees and served 3.6 million customers.
PPL Electric Utilities has received 30 J.D. Power and Associates awards for customer satisfaction.
PPL Electric Utilities serves 1.4 million customers in 29 counties in Pennsylvania.
