Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
MILLER JAMES H
  2. Issuer Name and Ticker or Trading Symbol
PPL CORP [PPL]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & CEO
(Last)
(First)
(Middle)
TWO N. NINTH STREET
3. Date of Earliest Transaction (Month/Day/Year)
01/26/2009
(Street)

ALLENTOWN, PA 18101
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 01/26/2009   M   38,560 A $ 32.35 38,560.422 D  
Common Stock 01/26/2009   F(1)   14,683 D $ 32.35 23,877.422 D  
Common Stock 01/27/2009   S(2)   200 D $ 31.97 23,677.422 D  
Common Stock 01/27/2009   S(2)   100 D $ 31.99 23,577.422 D  
Common Stock 01/27/2009   S(2)   500 D $ 32 23,077.422 D  
Common Stock 01/27/2009   S(2)   700 D $ 32.01 22,377.422 D  
Common Stock 01/27/2009   S(2)   200 D $ 32.02 22,177.422 D  
Common Stock 01/27/2009   S(2)   100 D $ 32.025 22,077.422 D  
Common Stock 01/27/2009   S(2)   200 D $ 32.03 21,877.422 D  
Common Stock 01/27/2009   S(2)   636 D $ 32.04 21,241.422 D  
Common Stock 01/27/2009   S(2)   100 D $ 32.045 21,141.422 D  
Common Stock 01/27/2009   S(2)   600 D $ 32.05 20,541.422 D  
Common Stock 01/27/2009   S(2)   100 D $ 32.06 20,441.422 D  
Common Stock 01/27/2009   S(2)   500 D $ 32.07 19,941.422 D  
Common Stock 01/27/2009   S(2)   200 D $ 32.08 19,741.422 D  
Common Stock 01/27/2009   S(2)   100 D $ 32.085 19,641.422 D  
Common Stock 01/27/2009   S(2)   700 D $ 32.09 18,941.422 D  
Common Stock 01/27/2009   S(2)   200 D $ 32.1 18,741.422 D  
Common Stock 01/27/2009   S(2)   400 D $ 32.11 18,341.422 D  
Common Stock 01/27/2009   S(2)   300 D $ 32.12 18,041.422 D  
Common Stock 01/27/2009   S(2)   200 D $ 32.13 17,841.422 D  
Common Stock 01/27/2009   S(2)   300 D $ 32.14 17,541.422 D  
Common Stock 01/27/2009   S(2)   400 D $ 32.15 17,141.422 D  
Common Stock 01/27/2009   S(2)   600 D $ 32.16 16,541.422 D  
Common Stock 01/27/2009   S(2)   100 D $ 32.17 16,441.422 D  
Common Stock 01/27/2009   S(2)   200 D $ 32.18 16,241.422 D  
Common Stock 01/27/2009   S(2)   700 D $ 32.19 15,541.422 D  
Common Stock 01/27/2009   S(2)   400 D $ 32.2 15,141.422 D  
Common Stock 01/27/2009   S(2)   200 D $ 32.21 14,941.422 D  
Common Stock 01/27/2009   S(2)   600 D $ 32.22 14,341.422 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Unit (ICP) $ 0 01/26/2009   M     38,560   (3)   (3) Common Stock 38,560 $ 0 132,760 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MILLER JAMES H
TWO N. NINTH STREET
ALLENTOWN, PA 18101
  X     President & CEO  

Signatures

 /s/Frederick C. Paine, as Attorney-In-Fact for James H. Miller   01/28/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares withheld by the company at the request of the executive officer to pay taxes due following expiration of the applicable restriction period, under the terms of the Incentive Compensation Plan (ICP).
(2) This Form 4 is the first in a series of two Form 4 reports, filed on the same date, which relate to the sale of 23,877 shares of common stock pursuant to a 10b5-1 plan, dated December 22, 2008.
(3) The units vested on 01/26/2009.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.