Investor News

ALLENTOWN, Pa., Oct. 3, 2023 /PRNewswire/ -- PPL Corporation (NYSE: PPL) subsidiary Rhode Island Energy has received regulatory approval to deploy advanced metering functionality statewide as the company lays the foundation for a smarter, more resilient, more reliable and more dynamic grid that supports the state's leading climate goals.

"Across PPL, we continue to execute our utility of the future strategy to enhance the reliability and resiliency of our electric and gas networks, advance a clean energy transition reliably and affordably, improve operational efficiency, and deliver value for our customers and shareowners," said Vincent Sorgi, PPL president and Chief Executive Officer.

"Advanced metering infrastructure, which we've deployed in Pennsylvania and are deploying in Kentucky, is a key step in modernizing our energy networks and delivers significant benefits," said Sorgi. "It provides detailed usage information to our customers, speeds power restoration by helping us pinpoint outage locations, allows for quick and convenient remote service activation, and enables new dynamic pricing options for our customers."

Sorgi said PPL's experience deploying advanced metering functionality elsewhere will benefit Rhode Island Energy as it rolls out new metering infrastructure. Rhode Island Energy expects to begin installing the next-generation digital meters in late 2024 and to complete the deployment over the next three years.

As part of its unanimous decision, the Rhode Island Public Utilities Commission authorized capital investments of up to $153 million for this initiative.

The project is another example of PPL's investment in the future to better serve its more than 3.5 million customers in Pennsylvania, Kentucky, Rhode Island and Virginia. Overall, PPL plans to invest more than $12 billion through 2026 to strengthen grid reliability and resiliency and replace aging coal generation with a reliable, least-cost and cleaner energy mix.

As the company pursues its utility of the future strategy, it continues to:

• Harden its networks to better withstand future climate impacts.
• Expand its industry-leading network automation to enhance grid resiliency.
• Deploy smart delivery platforms to enable increased behind-the-meter resources, like private solar and battery storage.
• Leverage data science and artificial intelligence to optimize asset management and investment planning.
• Advance a cleaner, more diverse generation mix while preserving reliability and affordability.
• Invest in research and development of clean energy technologies.
• Expand self-serve options to add ease and convenience for customers.

"Creating customer-centric and tech-enabled utilities will help us to best deliver on the promise of a clean, safe, reliable and affordable energy future for those we serve," said Sorgi. "We appreciate the Rhode Island commission's approval of advanced metering functionality in the state, and we look forward to demonstrating its many benefits for Rhode Islanders."

About PPL

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 3.5 million customers in the U.S. 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. For more information, visit www.pplweb.com.

Note to Editors: Visit our media website at www.pplnewsroom.com for additional news about PPL Corporation.

SOURCE PPL Services Corporation