PPL ELECTRIC UTILITIES CORPORATION 10,000,000 Depositary Shares Each Representing ¼ Interest in a Share of Preference Stock, 6.25% Series (Non- cumulative, Liquidation Preference $25.00 per Depositary Share) Underwriting AgreementPPL Electric Utilities Corp • April 6th, 2006 • Electric services • New York
PPL Electric Utilities Corporation, a Pennsylvania corporation (the “Company”) proposes to issue and sell to the several parties named in Schedule I hereto (the “Underwriters”), for whom you (the “Representatives”) are acting as representatives, 2,500,000 shares of the Company’s preference stock, 6.25% Series (the “Preference Stock”) that are represented by 10,000,000 depositary shares (the “Depositary Shares”, and together with the Preference Stock, the “Securities”) deposited against delivery of depositary receipts (the “Depositary Receipts”) evidencing the Depositary Shares that are to be issued by the depositary (the “Depositary”) under the Deposit Agreement, dated April 3, 2006 (the “Deposit Agreement”), among the Company, the Depositary and the holders from time to time of the Depositary Receipts issued thereunder. Each Depositary Share represents beneficial ownership of one-quarter of a share of Preference Stock. The use of the neuter in this Agreement shall include the feminine
PPL ELECTRIC UTILITIES CORPORATION, Wells Fargo Bank, N.A., As Depositary AND THE HOLDERS FROM TIME TO TIME OF THE DEPOSITARY RECEIPTS DESCRIBED HEREIN Deposit Agreement Depositary Shares Each representing a ¼ interest in a share of Preference Stock,...PPL Electric Utilities • April 6th, 2006 • PPL Electric Utilities Corp • Electric services • New York
