PPL Electric Utilities Corporation, a division of PPL Corporation (NYSE:PPL), which is operating in Pennsylvania, announced on July 31, 2014, that it is planning to start a new regional transmission line project. This new line will reduce the cost for customers and increase the security of the electric grid.
The capacity and length of the transmission line are planned to be 500-kilovolt and 725 miles, respectively. According to the proposed plan, the line will run from western Pennsylvania into New York and New Jersey, followed by Maryland. This transmission line will enable the construction of more efficient and lower cost power plants by increasing the capacity of the grid.
“This is a forward-looking project with significant benefits for customers, for several states and for the region as a whole, […] The project would help secure this region’s ability to deliver adequate supplies of energy for decades to come. In addition, it would make the electricity delivery network more reliable and more secure over a wide swath of the Mid-Atlantic region,” Gregory N. Dudkin, PPL Corporation (NYSE: PPL)’s president, was quoted as saying.
PPL Corporation (NYSE: PPL) is one of the leading energy and utility holding companies, which engages in the generation, transmission, distribution and selling the electricity to wholesale and retail customers in the Pennsylvania, Kentucky, Virginia, Tennessee, and the United Kingdom. Shares of PPL recently traded at $20.13 with a trailing price to earnings of 20.68 and a forward price to earnings of 14.79. PPL has a 4.40% dividend yield and has gained 4.28% during the past 12 months. The stock has a market cap of $21 billion and total debt/equity ratio of 1.8. PPL had an average annual EPS growth rate of 3.57% during the last five years. Around 0.1% of the PPL Corporation (NYSE: PPL) shares held by insiders and 33.1% of the shares held by institutions.