PPL’s Climate Assessment report forecasts 45 to 90 percent carbon dioxide reductions by 2050
PPL Corporation’s Climate Assessment report, released Thursday, predicts that the company will see a reduction of 45 to 90 percent in carbon dioxide emissions at its Kentucky power plants by 2050.
The forecast is based on the retirement of aging coal units, which will be replaced with natural gas and renewable generation. The share of new natural gas versus renewable generation will determine whether the reductions fall on the low or high side of the prediction.
“Any way we look at it, we expect emissions to decline sharply by 2050,” William H. Spence, chairman, president and CEO of PPL Corporation, said. “And in the long run, that supports efforts to advance a cleaner energy future.”
The report considers three scenarios: potential reductions without any CO2 regulation, reductions assuming targets consistent with the Clean Power Plan, and reductions through 2050 consistent with limiting the global temperature increase to no more than two degrees Celsius by 2100.
PPL’s report also explores climate-related risks and opportunities that may impact PPL’s businesses, steps the company is taking to identify and manage risks and its efforts to promote a sustainable energy future.
PPL owns generation in Kentucky, but 80 percent of its earnings came from its energy delivery businesses in Pennsylvania and the United Kingdom in 2016.
“As we plan for the future, we regularly assess the risks and opportunities associated with climate change,” Spence said. “From strengthening grid resiliency to better withstand severe weather to investing in new technology that enables more distributed energy resources, PPL is effectively managing climate risks and seizing opportunities, where appropriate. We will continue to do so as we look to preserve and grow shareowner value moving forward.”
