2023-03-27 10:07:46 ET
PPL Corp. ( NYSE: PPL ) +0.8% in early trading Monday after reaffirming its FY 2023 earnings forecast range of $1.50-$1.65/share and projected annual EPS growth of 6%-8% through at least 2026.
The company said it does not expect a material impact on its business outlook from a new law passed in Kentucky that requires the Kentucky Public Service Commission to approve the retirement of fossil fuel-fired electric generation units.
PPL ( PPL ) also does not expect the new law to change the timeline for the state regulator's decision on its request for approval of two new combined-cycle natural gas plants, nearly 1,000 MW of solar generation, 125 MW of battery storage and more than a dozen new energy efficiency programs by 2028 as part of the company's generation replacement strategy.
The company has said it wants to shut down 1,500 MW of coal-fired generation in Kentucky by 2028, or about a third of the state's coal-powered fleet.
PPL's ( PPL ) improved growth prospects have come at the cost of its near-term profitability and dividends, Junius reports in an analysis published on Seeking Alpha .
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PPL reaffirms earnings forecast, growth projections despite new Kentucky law