PPL Corp.'s (PPL) stock has continued to meander, following the buy recommendation on May 26, 2009 at a price of $32.15, but I'm reiterating the rating. Here's why: PPL's business model remains solid: steady, if unspectacular growth in its regulated Pennsylvania power market (1.4 million customers), coupled with stronger growth in unregulated (though more risky) power markets. PPL hopes the increased use of power supply contracts of varying duration will lessen those unregulated market risks.
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The U.S. electric power generating sector may be down, due to the recession and a cooler-than-normal summer across much of the U.S., but it's not out.
Readers of this space know that one of the preferred sectors is the electric power generation sector. 

