Benzinga | Aug 20, 2021 03:34PM EDT

PPL Electric Utilities To Lower Transmission Rates

* PPL Corp (NYSE:PPL) subsidiary PPL Electric Utilities plans to reduce the company's transmission rates and lower customer bills if approved by the Federal Energy Regulatory Commission.

* The agreement, reached with a group of industrial and municipal customers, would reset the base return on equity for PPL Electric's transmission formula rate from 11.18% to 9.9%, saving the typical residential customer about $1.54 and the typical business customer about $2.15 on their monthly electric bill over 12 months.

* PPL Electric provides electric delivery service to more than 1.4 million homes and businesses in Pennsylvania.

* Price Action: PPL shares are trading higher by 1.90% at $29.75 on the last check Friday.