PPL Chairman: 2013 Earnings Underscore Importance of 'Strategic Realignment' (Focus Shifts Away from Competitive Businesses)

PPL Corporation Chairman and CEO William Spence said during an annual meeting that the company's 2013 results underscore the importance of PPL's strategic realignment over the past several years, so that the vast majority of its earnings now come from regulated utility operations.

"Last year, more than 85 percent of our earnings from ongoing operations came from rate-regulated operations and we forecast that virtually all of our 2014 ongoing earnings will come from these regulated businesses," he said.

PPL is said to be exploring the sale of its retail supplier and merchant generation businesses, but did not address the issue substantively during its recent quarterly earnings call.