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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 7, 1998
PP&L Resources, Inc.
___________________________________________________________________________
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 1-11459 23-2758192
___________________________________________________________________________
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification
No.)
PP&L, Inc.
___________________________________________________________________________
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 1-905 23-0959590
___________________________________________________________________________
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification
No.)
TWO NORTH NINTH STREET, ALLENTOWN, PA. 18101-1179
___________________________________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 610-774-5151
___________________________________________________________________________
(Former name or former address, if changed since last report.)
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5. Other Events
PUC Restructuring Proceeding
Reference is made to the 1997 Form 10-K of PP&L Resources,
Inc. and PP&L, Inc. ("PP&L") regarding PP&L's April 1, 1997
filing of its restructuring plan with the Pennsylvania Public
Utility Commission ("PUC") pursuant to Pennsylvania's
Electricity Generation Customer Choice and Competition Act (the
"Customer Choice Act"). On April 7, 1998, the Recommended
Decision of Administrative Law Judge ("ALJ") George M. Kashi
was issued. The following are the major elements of the
Recommended Decision:
1. The Recommended Decision makes certain adjustments to
PP&L's stranded cost claim which had been proposed by the PUC
Office of Trial Staff. Although the Recommended Decision does
not quantify the level of stranded cost recovery that would
result from the Decision, PP&L estimates the impact of the
adjustments at approximately $350 million and the level of
permitted stranded cost recovery at $4.14 billion.
2. The Recommended Decision accepts PP&L's estimates of
future competitive market prices used to determine stranded
costs.
3. The Recommended Decision accepts PP&L's proposed Code
of Conduct and rejects proposals to prohibit PP&L from using
its corporate name in the competitive marketplace.
4. The Recommended Decision accepts PP&L's proposed
consumer education program and universal service program.
5. The Recommended Decision adopts the schedule for
retail customer choice contained in the Customer Choice Act,
phasing in all customers over three years beginning on January
1, 1999.
The parties' Exceptions to the Recommended Decision are
due by April 27; Replies to Exceptions must be filed by May 7.
The PUC will review the Recommended Decision, Exceptions and
Reply Exceptions and is expected to issue its final order in
the proceeding on June 4, 1998.
The PUC's final order may result in changes to components
or assumptions in PP&L's restructuring plan or to findings or
conclusions in the Recommended Decision that could have an
adverse effect on the level of the Competitive Transition
Charge ("CTC") used to collect stranded costs from customers,
the amount of stranded costs that are recoverable through the
CTC or on the overall amount of revenues to be collected from
customers. Accordingly, PP&L Resources and PP&L are unable to
predict the ultimate effect of the Customer Choice Act or the
PUC's final order in the restructuring proceeding on their
financial position, their results of operation, future PP&L
rate levels, the need or ability to issue securities to meet
future capital requirements or the ability to maintain the
common stock dividend at the current level.
SIGNATURE
Pursuant to the requirements of the Securities Exchange
Act of 1934, the Registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.
PP&L RESOURCES, INC.
PP&L, INC.
By: _______/s/John R. Biggar_______
Senior Vice President-Financial
Date: April 17, 1998
