PPL Corporation operates four regulated electric and natural gas utilities serving customers in Pennsylvania, Kentucky, and Rhode Island through separate regulatory jurisdictions. The company's core business involves electricity generation, transmission, and distribution, along with natural gas transmission and distribution in select markets, generating revenue from retail and wholesale electricity sales, natural gas sales, and transmission services under regulated rate structures approved by state public utility commissions. PPL invests in infrastructure modernization, grid reliability, renewable energy, and battery storage to enhance service quality and support the transition to cleaner energy while pursuing cost recovery mechanisms for fuel, environmental compliance, and capital investments across its regulated utilities.