Nov. 6, 2026
— Jeff Ward, Lehigh Valley News Briefs
The near-sweep of national elections by Democrats won’t hinder PPL Corp.’s drive to sell electricity to data centers, Chief Executive Officer Vincent Sorgi said today.
“We just have a long history of working with both Democrats and Republicans in Pennsylvania,” Sorgi said during a conference call after the utility reported third-quarter results. Democrats now hold the governorship and majorities in the state Senate and House.
“I don’t really have any concerns in terms of, at least on the data-center side, and the pipeline that we have,” the CEO said, using the term pipeline for projects in the works.
PPL is preparing to supply data centers with electricity in Pennsylvania and Kentucky.
Sorgi noted that the governors of both states, Democrats Josh Shapiro in Pennsylvania and Andy Beshear in Kentucky, “have signed executive orders to develop data centers the right way.” By that, he means with protections for existing customers.
Shapiro and Beshear are also potential candidates for U.S. President in 2028. Shapiro was re-elected easily Tuesday while Beshear’s second term expires in 2027.
Sorgi said he doesn’t expect moratoriums on the development of data centers in PPL territory. If elections in other states lead to restrictions on data centers, that could drive some projects to Pennsylvania and Kentucky.
“We’re open to working with whoever is in power in our states,” Sorgi said. “We share a lot of the same goals,” noting affordability.
Sorgi said PPL’s plan for “large-load tariffs” means data centers and other big energy users will pay their own way, without raising costs for other customers.
Data centers are huge buildings full of computer equipment that support Artificial Intelligence, e-commerce and other high-tech uses. They’ve drawn negative attention in many communities, with residents worried about development, and potentially higher costs for electricity and water.
Sorgi said in PPL’s earnings release that the company’s Invitium Energy joint venture will provide about two gigawatts of generation capacity to serve a data center in Salem Township in Luzerne County, Pennsylvania.
There will be more to come.
“This continued data center interest in Pennsylvania further supports new generation opportunities at Invitium Energy,” PPL said in its earnings report.
Invitium is PPL’s multi-billion-dollar venture with Blackstone to build generation capacity to meet growing demand.
For the third quarter, PPL reported adjusted earnings per share of 54 cents today, topping Wall Street’s estimates.
The Allentown-based utility was expected to report 53 cents per share, according to the consensus of industry analysts compiled by Zacks Investment Research.
The company is poised to continue rewarding shareholders while keeping customers’ costs down, Sorgi and Chief Financial Officer Joseph P. Bergstein Jr. said during the conference call.
Growth in earnings per share was projected at 7% to 9% starting in 2027 through at least 2030, up from earlier forecasts, and annual dividend growth will be 4% to 6%, unchanged from the previous view.
Bergstein said 2027 full-year earnings are forecast to be $2.06 to $2.14 per share.
Third-quarter earnings per share on a Generally Accepted Accounting Principles (GAAP) basis were 49 cents. GAAP numbers do not allow for the exclusion of items the company considers to be one-time or unusual.
Artificial Intelligence may not be popular with many Americans, but Sorgi said “We continue to see AI as a gamechanger for the utility industry,” boosting reliability and improving customer service.
In closing, Sorgi said PPL is poised for the future.
“We are delivering this growth while keeping customers at the center of our strategy,” he said.
Shares of PPL (NYSE:PPL) rose 24 cents to $36.24 as of 1:06 p.m. on Friday.
Disclosure: I own shares of PPL and added to that holding recently, and shares in companies involved in data centers.
PPL Corp. serves about 3.6 million energy customers in Pennsylvania, Kentucky and Rhode Island.
Here is a link to the third-quarter earnings statement and here is a link to the slideshow presented during the conference call.
