Aug 2 (Reuters) - Utility PPL beat

second-quarter profit estimates on Friday, helped by warmer

weather and lower operating expenses.

Extreme heat in the quarter prompted consumers to increase

their usage of air conditioners and refrigerators during peak

summer months, boosting earnings of utilities such as PPL.

Earnings from PPL's Kentucky segment rose 50% to 18 cents

per share in the second quarter from a year ago and earnings

from its Pennsylvania segment were up 40% at 21 cents per share.

Companies have also initiated cost-cutting measures as the

U.S. Federal Reserve lifting interest rates to curb inflation

has led to higher borrowing costs.

The company's quarterly operating expenses were down 1.8% at

$1.49 billion, from a year ago.

The company reported an adjusted profit of 38 cents per

share for the quarter ended June 30, compared with analysts'

average estimate of 33 cents, according to LSEG.

PPL reaffirmed its full-year forecast for earnings from

ongoing operations at $1.63 to $1.75 per share.