Nov 1 (Reuters) - PPL Corp ( PPL ) posted a fall in

third-quarter profit on Friday, as higher expenses and interest

costs weighed on the electric and gas utility.

The company's shares fell more than 2% to $31.82 before the

bell.

Higher-for-longer interest rates can weigh on utilities, as

it makes investing in the construction and maintenance of

critical infrastructure such as electrical grids more expensive.

PPL's interest expenses for the quarter ended Sept. 30 rose

to $188 million from $165 million a year earlier, while total

operating expenses increased nearly 2% to $1.64 billion.

The company provides electricity and natural gas services to

more than 3.5 million customers across its service territories

in Kentucky, Pennsylvania and Rhode Island.

The Allentown, Pennsylvania-based firm posted a net income

of $214 million, or 29 cents per share, in the quarter, compared

with $230 million, or 31 cents per share, a year earlier.

PPL's third-quarter profit included a net special item

after-tax charge of $96 million, which was primarily due to

costs related to the acquisition of Rhode Island Energy, which

the utility had acquired from National Grid USA in 2022.