U.S. regulated power and gas utility
PPL Corporation
PPL supplies electricity and natural gas in Pennsylvania, Kentucky, Virginia and Rhode Island, and operates generation in Kentucky. It earns revenue from regulated delivery and energy sales while spending on purchased power, fuel, generation equipment and grid construction. It is also pursuing a generation joint venture with Blackstone to serve data-center demand.
Business categories Regulated Utilities & Grid Operators · Power & Grid · primary
PPL Updated Sep 24, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, PPL Corporation is directly linked to 2 companies (1 supply, 0 revenue, 1 investment relationships) and reaches 9 companies within two hops; the links are backed by 5 dated sources, 1 of them primary filings (as of 2026-09-24).
Financials & Segments
- Total revenue · $9.17 billion FY2025 revenue from contracts with customers
- Segments · Kentucky Regulated · Pennsylvania Regulated · Rhode Island Regulated
Revenue from
- PJM Interconnection, L.L.C. High confidence
PPL Electric recognizes transmission revenue under the PJM Open Access Transmission Tariff. PJM remits payment for these transmission services weekly. - PowerHouse Data Centers and Poe Companies joint venture Medium confidence· capacity 335 MW · initial campus capacity · Initial electric capacity secured from LG&E for the PowerHouse-Poe data-center campus
PPL subsidiary LG&E identified this joint venture's Louisville hyperscale campus as its first major data-center electric customer. The campus secured 335 MW of initial capacity with near-term expansion planned to 402 MW.Confirms EN LG&E and KU Published Jan 16, 2025: LG&E announces first major data center electric customer
Pays to
- Ohio Valley Electric Corporation High confidence· Amount $37M · FY2025 · Combined LG&E and KU energy purchases under the OVEC power purchase agreement
LG&E and KU have a power purchase agreement with OVEC that runs through June 2040. Their combined FY2025 energy purchases under the agreement were $37 million. - GE Vernova Medium confidence· capacity 645 MW · planned 2027 completion · Expected output of Mill Creek Unit 5 using GE Vernova equipment
PPL subsidiaries LG&E and KU ordered a 7HA.03 gas turbine, steam turbine, generator and heat-recovery steam generator from GE Vernova for Mill Creek Unit 5. GE Vernova will also provide monitoring and operating services.Confirms EN GE Vernova Published Apr 11, 2024: GE Vernova’s advanced technology to help LG&E and KU further diversify utilities’ portfolio
Investors
- Blackstone High confidence· Market share 49% · ownership as of FY2025 filing · Blackstone Infrastructure ownership stake in the PPL generation joint venture
PPL formed a joint venture with Blackstone Infrastructure to build, own and operate generation for Pennsylvania data centers. PPL owns 51% and Blackstone Infrastructure owns 49%.Confirms EN Utility Dive Published Aug 10, 2026: PPL-Blackstone joint venture secures 5 GW of gas turbines for data centers in PennsylvaniaConfirms KO Simply Wall St Published Oct 12, 2025: How investors may respond to PPL joining Blackstone for Pennsylvania data-center growth
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '20 | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|---|
| PPL Corporation | node | · | +12.9 | +0.4 | -3.8 | +24 | +11.4 | +1.8 |
| GE Vernova | benef1 | · | · | · | · | · | +99 | +54 |
| Blackstone | benef1 | · | +107.1 | -40 | +82.7 | +35.1 | -7.8 | -23.5 |
| Moderna | benef2 | · | +143.1 | -29.3 | -44.6 | -58.2 | -29.1 | +393.6 |
| CoreWeave | benef2 | · | · | · | · | · | · | +14.6 |
| Medtronic plc | benef2 | · | -9.8 | -22.6 | +9.6 | +0.3 | +24 | -0.3 |
| EQT Corporation | benef2 | · | +71.6 | +57.6 | +16.2 | +21.4 | +17.6 | -0.6 |
| Workday, Inc. | benef2 | · | +14 | -38.7 | +65 | -6.5 | -16.8 | -8.8 |
| Alnylam Pharmaceuticals | benef2 | +0 | +30.5 | +40.1 | -19.5 | +22.9 | +69 | -41.5 |
| D-Wave Quantum | benef2 | · | · | -85.3 | -38.9 | +854.5 | +211.3 | -44.3 |
YTD as of 2026-09-04 · source: Yahoo Finance
PPL Corporation operates across U.S. regulated power and gas utility. It is +1.8% in 2026. The supply side (avg +44.4%) leads the stock (+1.8%), with spending rippling down to suppliers first. It is also pursuing a generation joint venture with Blackstone to serve data-center demand.
Analysis generated from returns as of 2026-09-04← All companiesMarkdown · JSON · Customers · Suppliers · Ripple