2024 Sustainability Report: PDF
PPL
PPL CORPORATION
2024 Sustainability Report
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION
SUSTAINABILITY STRATEGY
ENERGY & ENVIRONMENT
SOCIAL
GOVERNANCE & MANAGEMENT
APPENDIX
2
About this report
This annual Sustainability Report has been prepared with reference to the Global Reporting Initiative (GRI) Standards including GRI Electric Utility Sector Supplement. We have also addressed topics identified in the Sustainability Accounting Standards Board (SASB) Electric Utilities and Power Generators and Gas Utilities and Distributors Standards, the Task Force on Climate-related Financial Disclosures, the EEI-AGA Sustainability Report and the CDP Climate and Water Questionnaires.
Our views about the company's direct and indirect impacts, risks, challenges and opportunities are presented throughout this report and in other publicly available documents. This report covers activities that occurred in calendar year 2024 and contains the best information available at time of publication. Unless otherwise noted, figures reported are through Dec. 31, 2024. Environmental, social and governance data can be challenging to measure accurately. We correct and report errors in prior-year data when found, and we continually work to improve our data measurement, gathering and reporting processes to increase the accuracy of information presented.
The report is reviewed by the Board of Director's Governance, Nominating and Sustainability Committee and the company's leadership team, including the chief executive officer. The Corporate Audit department has conducted reviews related to the compilation of this report, including in-depth reviews of specific metrics, as part of ongoing controls related to voluntary sustainability reporting. An external audit has not been conducted.
You can find more information about PPL and our sustainability performance at pplweb.com/sustainability.
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION
SUSTAINABILITY STRATEGY
ENERGY & ENVIRONMENT
SOCIAL
GOVERNANCE & MANAGEMENT
APPENDIX
Table of Contents
3
About PPL
Energy & Environment
Social Impact
Governance
Appendix
& Management
5
Message from
18 Clean energy strategy
37 Stakeholder engagement
55 Governance
69 Voluntary
our president and CEO
Disclosures Index
23 Investing in innovation
41 Economic development
58 Financial performance
6
About our company
94 Alignment with UNSDGs
26 Modernizing the grid
42 Community engagement
59 Enterprise risk
9
Performance data
management
95 Metrics
29 Energy efficiency
43 Safety
12 Sustainability strategy
60 Cybersecurity
30 Natural gas operations
46 Emergency management
62 Supply chain
31 Environmental
47 Customer experience
management
management
50 Employee engagement
63 Ethics and compliance
65 Public policy
FORWARD-LOOKING STATEMENTS IN THIS CORPORATE SUSTAINABILITY REPORT
This Corporate Sustainability Report ("Report") contains forward-looking statements regarding, among other things, our clean energy targets and achievement
of climate commitments by certain dates, and strategies or goals related to environmental performance. These statements, and all others that reflect beliefs, plans, estimates, projections, goals, targets, expectations, strategy or any other forward-looking information, are "forward-looking statements" within the meaning of the federal securities laws. PPL Corporation believes that the forward-looking statements in this Report reflect reasonable expectations and assumptions. However,
it is important to understand that forward-looking statements, and their underlying assumptions, are subject to a wide range of risks and uncertainties, both known and unknown.
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION
SUSTAINABILITY STRATEGY
ENERGY & ENVIRONMENT
SOCIAL
GOVERNANCE & MANAGEMENT
APPENDIX
4
At PPL, we are committed to creating utilities of the future that are stronger, smarter, increasingly clean and powered by cutting-edge technology.
Vince Sorgi, PPL President and Chief Executive Officer
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION
SUSTAINABILITY STRATEGY
ENERGY & ENVIRONMENT
SOCIAL
GOVERNANCE & MANAGEMENT
APPENDIX
5
Message from our President and CEO
America's energy landscape is transforming at an unprecedented pace. After years of stagnation, U.S. electricity demand is on the rise and forecast to grow in 2025 at the fastest pace in decades, driven largely by a surge in data center development.
At the same time, extreme weather poses challenges not seen for centuries. And groundbreaking technological advancements, including generative artificial intelligence (AI), offer enormous potential to transform our industry and drive increased value for our customers, communities and shareowners.
Against this backdrop, PPL is positioned to lead the transformation.
We recognize that our job is as important as ever. Importantly, we understand that to help our communities grow and prosper, to meet current and future challenges, to keep energy affordable for our customers, and to drive innovation that improves lives, we must create the utilities of the future.
This is precisely our strategy at PPL. From Kentucky to Virginia to Pennsylvania to Rhode Island, our shared focus is creating utilities that are smarter, stronger, cleaner and powered by cutting-edge technology. Our $20 billion of planned infrastructure investment through 2028 fully supports this strategy.
As we execute our plans and make steady progress:
In pursuit of our responsible business strategy and guided by strong governance, we are confident that we will continue to deliver a safe, reliable, affordable and sustainable energy future that delivers long-term value for our customers, our employees, our communities and our shareowners.
We appreciate your interest in PPL and invite you to learn more about our progress and plans in this report.
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION
SUSTAINABILITY STRATEGY
ENERGY & ENVIRONMENT
SOCIAL
GOVERNANCE & MANAGEMENT
APPENDIX
PPL at a glance
6
WHO WE ARE
PPL Corporation (NYSE: PPL), headquartered in Allentown, Pennsylvania, is a leading U.S. energy company
focused on providing electricity and natural gas safely, reliably and affordably to more than 3.6 million customers in the U.S.
WHAT WE BELIEVE
Our SPIRIT values guide our progress toward becoming the best utility in the U.S.
Safety
Passion
Innovation
We never compromise on safety and
We love what we do, we bring our
We anticipate our customers'
health for our employees, contractors,
energy and enthusiasm to work each
future needs and innovate to
customers and the public. We're committed
day, we care about each other, and we're
meet them. We're agile, creative and
to ensuring everyone on our properties
driven to deliver long-term value for
committed to continuous improvement.
goes home safely at the end of every day.
our customers and shareowners.
Responsibility
Integrity
Teamwork
Individually, and as teams, we're accountable
We are transparent, ethical and fair in
We act as OnePPL, one company
for our actions and results. As a company,
all we do, and we comply with legal
and one team. We leverage our collective
we're good stewards of the environment and
and regulatory requirements.
and unique talents, knowledge and
we strengthen the communities we serve.
experiences to deliver better results for our
customers. We value inclusion and respect.
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION
SUSTAINABILITY STRATEGY
ENERGY & ENVIRONMENT
SOCIAL
GOVERNANCE & MANAGEMENT
APPENDIX
7
HOW WE MEASURE SUCCESS
As we pursue our vision to be the best utility company in the U.S., we define "the best" as combining
all of the attributes directly below, and we track and measure our progress against these goals.
Top quartile in customer
Premium stock
Top decile in safety
satisfaction, reliability
valuation relative to peers
and cost efficiency
7,250 MW
7,700 Miles
87,000 Miles
of regulated generation capacity in Kentucky
approximate miles of gas distribution mains
approximate miles of electric power lines
3.6 Million
74,000 GWh
$8.5 Billion
6,600
utility customers in the U.S.
of electricity delivered
in annual revenue
Employees
As of Dec. 31, 2024
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION
SUSTAINABILITY STRATEGY
ENERGY & ENVIRONMENT
SOCIAL
GOVERNANCE & MANAGEMENT
APPENDIX
8
Our companies
PPL's high-performing, award-winning utilities are addressing energy challenges head-on by building smarter, more resilient and more dynamic power grids and advancing sustainable energy solutions.
Louisville Gas and Electric Company
and Kentucky Utilities Company
Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU) provide essential energy services to more than
1.3 million customers throughout Kentucky and parts of Virginia. LG&E and KU also operate over 7,250 megawatts of power generation.
PPL Electric Utilities Corporation
PPL Electric Utilities Corporation (PPL Electric) provides electricity distribution and transmission services to about 1.5 million customers in Pennsylvania.
Rhode Island Energy
Rhode Island Energy (RIE) provides essential energy services to approximately 800,000 homes and businesses across Rhode Island through the delivery of electricity and natural gas.
Awards and recognition
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION SUSTAINABILITY STRATEGY ENERGY & ENVIRONMENT SOCIAL GOVERNANCE & MANAGEMENT APPENDIX
Performance data
Key performance indicators in support of our sustainability efforts in 2024
ENERGY PORTFOLIO
2023
2024
GENERATION
Generation capacity (MW)
7,535
7,264
Owned net generation (MWh)
29,422,636
30,697,566
Generation efficiency (MMBtu/owned net MWh)
9.8
10.0
EMISSIONS
Net-zero goal-related emissions (CO2e) (metric tonnes)
25,795,238
27,094,395
Generation carbon emissions intensity (metric tonnes/owned net MWh)
0.853
0.861
Sulfur dioxide emissions intensity (metric tonnes/owned net MWh)
0.00042
0.00051
Nitrogen dioxide emissions intensity (metric tonnes/owned net MWh)
0.00045
0.00045
Mercury emissions (Kg)
41
49
WATER
Water withdrawal (megaliters/year)
379,422
428,087
Water intensity (m3 withdrawal/owned net generation)
12.89
13.95
Volume of water recycled and reused (percent total)
92.01%
89.72%
WASTE
Coal combustion products beneficially used (percent total)
71.9%
69.7%
9
PPL 2024 SUSTAINABILITY REPORT
INTRODUCTION
SUSTAINABILITY STRATEGY
ENERGY & ENVIRONMENT
SOCIAL
GOVERNANCE & MANAGEMENT
APPENDIX
INFRASTRUCTURE
2023
2024
ELECTRICITY
Miles of distribution lines
75,497
75,802
Miles of transmission lines
11,076
11,063
NATURAL GAS
Miles of gas distribution mains
7,674
7,686
Miles of gas transmission mains
359
343
OPERATIONAL PERFORMANCE
EMPLOYEE SAFETY
Total hours worked
13,058,862
13,176,701
Number of lost-day cases
25
35
Lost-time incident rate
0.38
0.53
Recordable incident rate
1.33
1.41
Work-related fatalities
0
0
RELIABILTY
SAIDI - Average outage duration (in minutes)
78.84
84.15
SAIFI - Average number of interruptions
0.67
0.73
CAIDI - Average restoration time (in minutes)
118.32
114.61
Average plant availability factor
87.71%
85.42%
Unplanned outage rate
5.15%
4.71%
Equivalent forced outage rate
1.64%
2.04%
10
Disclaimer
PPL Corporation published this content on April 24, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 24, 2025 at 14:56 UTC.