01:02 PM EDT, 04/02/2024 (MT Newswires) -- PPL (PPL) said Tuesday its unit Rhode Island Energy received approval for planned infrastructure spending from the Rhode Island Public Utilities Commission.

The utility plans to spend $326 million on the electric and gas network improvements from April 1 to March 31, 2025.

Rhode Island Energy will dedicate about $300 million for annual safety and reliability plans and remaining for tasks like vegetation management, system inspections and paving for gas main replacement projects.

PPL also reaffirmed its 2024 earnings forecast range of $1.63 to $1.75 per share, and expects annual EPS growth of 6% to 8% through at least 2027. The company also reaffirmed its $14.3 billion capital investment plan for 2024 through 2027.

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