KENTUCKY UTILITIES CO
For the period ended Dec 31, 2025. Filed Feb 20, 2026.
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FY2025 · Filed Feb 20, 2026
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Kentucky Utilities Company - Statement of Income Analysis
KU: Statement of Income Analysis
| Change | |||
|---|---|---|---|
| 2025 | 2024 | 2025 vs. 2024 | |
| Operating Revenues | |||
| Retail and wholesale | $2,042 | $1,944 | $98 |
| Electric revenue from affiliate | 22 | 20 | 2 |
| Total Operating Revenues | 2,064 | 1,964 | 100 |
| Operating Expenses | |||
| Operation | |||
| Fuel | 517 | 476 | 41 |
| Energy purchases | 26 | 25 | 1 |
| Energy purchases from affiliate | 30 | 31 | (1) |
| Other operation and maintenance | 416 | 413 | 3 |
| Depreciation | 408 | 403 | 5 |
| Taxes, other than income | 51 | 49 | 2 |
| Total Operating Expenses | 1,448 | 1,397 | 51 |
| Operating Income | 616 | 567 | 49 |
| Other Income (Expense) - net | 29 | 15 | 14 |
| Interest Expense | 148 | 137 | 11 |
| Income Before Income Taxes | 497 | 445 | 52 |
| Income Taxes | 99 | 89 | 10 |
| Net Income | $398 | $356 | $42 |
| 2025 vs. 2024 | |
|---|---|
| Fuel and other energy purchases (a) | $30 |
| Volumes (b) | 34 |
| Off-system sales (c) | 19 |
| Other | 17 |
| Total | $100 |
(a)The increase was primarily due to higher recoveries of fuel expenses.
(b)The increase was primarily due to weather.
(c)The increase was primarily due to higher volumes.
Fuel
Fuel expense increased $41 million in 2025 compared with 2024, primarily due to a $24 million increase in volumes due to weather and an $18 million increase in commodity costs.
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