At a glance
- CEO Vincent Sorgi said on a Friday third-quarter earnings call, Utility Dive reported.
- The plant would have 645 MW of capacity if regulators approve it, and PPL's earnings presentation puts commercial operation in the second quarter of 2032.
- Kentucky spending rises from $2.3 billion in 2026 to $3.6 billion in 2027 across Louisville Gas and Electric and Kentucky Utilities.
PPL Corp. raised its base capital plan to $25 billion for 2027 through 2030, $2 billion more than the prior plan, with most of the increase tied to a proposed combined-cycle gas turbine plant in Kentucky.
CEO Vincent Sorgi said on a Friday third-quarter earnings call, Utility Dive reported.
The plant would have 645 MW of capacity if regulators approve it, and PPL's earnings presentation puts commercial operation in the second quarter of 2032.
Kentucky spending rises from $2.3 billion in 2026 to $3.6 billion in 2027 across Louisville Gas and Electric and Kentucky Utilities.
For infrastructure allocators, the commitment is a regulated utility spending plan rather than a project-finance structure: the dollars sit on PPL's balance sheet and are recovered through rates.
That makes the Kentucky Public Service Commission the deciding party, not a syndicate of lenders.
Sorgi said the next certificate of public convenience and necessity filing will come once PPL has signed a data center electric service agreement in the state, and he expects that filing in the first quarter of 2027.
Kentucky's development pipeline expanded by 1 GW to 14.7 GW of potential load growth through 2032, with data center-related load at 12.8 GW, according to the earnings presentation.
PPL also projects roughly 50 GW of potential load growth across Kentucky and Pennsylvania, mostly from data centers.
Sorgi told analysts he expects to keep building generation in Kentucky.
Asked about the commission's earlier denials of PPL requests to build new gas capacity, he said, "conservatism is not cost-free," adding that being overly conservative in regulatory outcomes has cost customers in the past.
Pennsylvania projects in advanced stages rose for the 11th consecutive quarter to 35.3 GW, up 3.5 GW from the second quarter, Sorgi said.
Projects with at least a 50% probability of success have grown to 4 GW of additional peak demand, with an average probability of almost 85%.
The supply side is being arranged through Invitium Energy, 51% owned by PPL in a joint venture with Blackstone.
Invitium signed a letter of intent Friday with QTS Data Centers to be its generation solution provider in parts of Pennsylvania, covering about 2 GW of capacity for QTS's Salem Township data center project on a 20-year term.
The letter of intent is not a signed supply contract.
Blackstone also owns QTS.
Kentucky spending and pipeline
| Item | Figure | Timing |
|---|---|---|
| Base capital plan | $25 billion | 2027–2030 |
| Increase vs. prior plan | $2 billion | 2027–2030 |
| Proposed Kentucky CCGT | 645 MW | Commercial operation Q2 2032 |
| Kentucky capex | $2.3 billion to $3.6 billion | 2026 to 2027 |
| Kentucky potential load growth | 14.7 GW, of which 12.8 GW data centers | Through 2032 |
| Pennsylvania advanced-stage projects | 35.3 GW | Up 3.5 GW from Q2 |
Reported by the Energy Transition desk from Utility Dive. Published . Corrections