PPL Corporation PPL is benefiting from the expansion of its generation portfolio to meet rising electricity demand. The expansion strengthens its ability to serve new large-load customers and support infrastructure investments.
On Oct. 5, 2026, Louisville Gas and Electric Company and Kentucky Utilities Company issued a request for proposals for at least 50 megawatts (MW) of firm, dispatchable thermal capacity through power purchase agreements, asset purchases and build-transfer arrangements. The RFP is intended to supplement approved generation plans and support rising electricity demand.
PPL’s Kentucky non-coal portfolio comprises approximately 2,000 MW of natural-gas, 240 MW of solar and more than 500 MW of battery storage, alongside $5.7 billion of planned generation investments through 2029. Invitium Energy, PPL’s 51%-owned joint venture with Blackstone, has sites capable of supporting 8-14 gigawatts (GWs) of generation capacity. More than 5 GW of combined-cycle gas turbine projects have entered PJM’s interconnection queue, while over 5 GW of turbine reservations could support $12.5-$15 billion of investment through 2032.
In the second quarter, PPL Electric’s data center pipeline reached 31.8 GW, with more than 11 GW under signed electric service agreements and over 6.5 GW under construction. Two data centers began taking service and are expected to ramp to about 2 GW by 2031. Expanding generation capacity can help PPL meet rising electricity demand, facilitate new connections and accommodate increasing customer load.
Overall, PPL’s generation initiatives could enhance reliability and create greater capacity to accommodate evolving customer requirements.
Generation Expansion Strengthens Utility Growth
Utilities are expanding generation capacity to meet rising electricity demand from data centers, industrial customers and broader electrification. These investments can expand regulated rate bases, improve reliability and support long-term earnings growth.
Alliant Energy LNT is expanding generation and energy-storage resources to serve accelerating customer demand. These investments increased its regulated rate base and contributed positively to second-quarter 2026 earnings.
Duke Energy DUK continues to invest in efficient generation resources to accommodate growing electricity requirements across its service territories. Generation expansion should strengthen system reliability while creating additional regulated investment opportunities.
The Zacks Rundown on PPL
PPL’s Earnings Estimates
The Zacks Consensus Estimate for 2026 and 2027 EPS indicates a year-over-year increase of 7.18% and 8.77%, respectively.
Image Source: Zacks Investment Research
Debt to Capital
PPL's debt-to-capital currently stands at 57.46%, lower than the Zacks Utility - Electric Power industry’s 62.33%.
Image Source: Zacks Investment Research
PPL’s Stock Price Performance
In the past three months, the company’s shares have plunged 6.3% compared with the industry’s 10.7% decline.
Image Source: Zacks Investment Research
PPL’s Zacks Rank
PPL currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PPL Corporation (PPL): Free Stock Analysis Report
Duke Energy Corporation (DUK): Free Stock Analysis Report
Alliant Energy Corporation (LNT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).