On July 1, 2009, PPL Corporation ("PPL" or the "Company") issued a press release announcing that its PPL Maine, LLC subsidiary had signed a definitive agreement to sell the majority of its hydroelectric generation business to Black Bear Hydro Partners, LLC, an affiliate of ArcLight Capital Partners, LLC ("ArcLight"), for a total of approximately $95 million, subject to customary closing conditions and the receipt of necessary state and federal regulatory approvals and consents. Receipt of the total sale price is contingent upon completion by PPL of its previously announced sale of three other hydroelectric facilities located in Maine to the Penobscot River Restoration Trust (the "Trust"), which sale is currently pending awaiting receipt of certain state and federal regulatory approvals. PPL expects to record a special after-tax gain in the range of $0.07 to $0.09 per share, including the contingent consideration. A portion of the gain would be recorded upon completion of the sale to the ArcLight affiliate, which is expected to occur later this year. The remaining portion of the gain would be recorded when PPL completes the sale of the other hydroelectric facilities to the Trust. PPL is not changing its current 2009 forecast of earnings from ongoing operations as a result of the sale.

A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.

(d) Exhibits

             99.1 -   Press release, dated July 1, 2009, announcing a definitive agreement for
                      the sale of PPL Maine hydroelectric assets to ArcLight Capital Partners,
                      LLC.