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PPL > SEC Filings for PPL > Form 8-K on 5-Mar-2014All Recent SEC Filings

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Form 8-K for PPL CORP


Other Events

Item 8.01. Other Events.

As previously reported, PPL Montana, LLC ("PPL Montana"), a wholly owned subsidiary of PPL Energy Supply, LLC ("PPL Energy Supply"), holds a joint operating license issued for the Kerr Hydroelectric Project No. 5 in Montana (the "Project"). The license extends until 2035 and, between 2015 and 2025, the Confederated Salish and Kootenai Tribes of the Flathead Nation ("Tribes") have the option to purchase, hold and operate the Project at a conveyance price to be determined in accordance with the provisions in the license. In February 2013, PPL Montana and the Tribes submitted the issue of the appropriate amount of the Project conveyance price to arbitration. Arbitration was held before an American Arbitration Association panel in January 2014. On March 4, 2014, the arbitration panel issued its final decision holding that the entire conveyance price payable by the Tribes to PPL Montana is approximately $18.3 million. PPL Energy Supply is reviewing the decision. As a result of the decision, PPL Energy Supply will perform impairment testing on the Project. An impairment charge, if any, is not expected to exceed $29 million ($17 million after tax).

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