UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, DC 20549



FORM 10-Q



THE REGISTRANT MEETS THE CONDITIONS SET FORTH IN
  GENERAL INSTRUCTIONS H(1) (a) AND (b) OF FORM 10-Q AND
  IS THEREFORE FILING THIS FORM WITH THE REDUCED DISCLOSURE FORMAT



|[X] | QUARTERLY REPORT PURSUANT TO SECTION 13 OR
        15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
        For the quarterly period ended September 30, 2003
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OR



|[  ] | TRANSITION REPORT PURSUANT TO SECTION 13
        OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
        For the transition period from _____________________ to _____________________
|---- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------







|Commission FileNumber | Registrant; State of Incorporation;Address; and Telephone No.                                                                                                      | IRS EmployerIdentification No.
|--------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------
|                      |                                                                                                                                                                    |                               
|333-75369             | PPL Transition Bond Company,
        LLC
        (Delaware)
        Two North Ninth Street, GENA92, Room 3
        Allentown, PA 18101-1179
        (610) 774-7934 | 23-3004428                    

Indicate by check mark whether the Registrant (1) has filed
  all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
  Act of 1934 during the preceding 12 months (or for such shorter period that
  the Registrant was required to file such reports), and (2) has been subject
  to such filing requirements for the past 90 days.

YES [ X ] NO [ ]



Indicate by checkmark whether the Registrant is an accelerated
  filer (as defined in Rule 12b-2 of the Act.)

YES [ ] NO [ X ]



This document is available free of charge at the Investor Center
  on PPL Corporation's website at www.pplweb.com.







|PPL TRANSITION BOND COMPANY,
        LLC                                                                                                            
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|FORM 10-Q
        FOR THE QUARTER ENDED SEPTEMBER 30, 2003                                                                                          
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|TABLE OF CONTENTS                                                                                                                                   
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|PART I. FINANCIAL INFORMATION                                                                                                                       
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|PART II. OTHER INFORMATION                                                                                                                          
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|GLOSSARY OF
        TERMS AND ABBREVIATIONS                                                                                                         
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|SIGNATURES                                                                                                                                          
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|CERTIFICATE
        OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER PURSUANT
        TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002
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|CERTIFICATE
        OF PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER PURSUANT
        TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
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|QUARTERLY
        SERVICER'S CERTIFICATE                                                                                                            
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|PART 1. FINANCIAL
        INFORMATION                                                                                     
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|Item 1. Financial Statements                                                                                              
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|CONDENSED STATEMENT OF OPERATIONS AND
        CHANGES IN MEMBER'S EQUITY                                                  
|PPL Transition Bond Company, LLC                                                                                          
|(Unaudited)                                                                                                               
|(Thousands of Dollars)                                                                                                    
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|Revenue                                                                                                                   
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|Expenses                                                                                                                  
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|Operating Income                                                                                                          
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|Income tax expense                                                                                                        
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|Net Income                                                                                                                
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|Member's equity - beginning
        of period                                                                             
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|Distribution to Member                                                                                                    
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|Member's equity - end of period                                                                                           
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|The accompanying
        Notes to Condensed Financial Statements are an integral part of the financial
        statements.

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|CONDENSED
        STATEMENT OF CASH FLOWS                                                                                 
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|PPL Transition Bond Company,
        LLC                                                                                  
|(Unaudited)                                                                                                               
|(Thousands of Dollars)                                                                                                    
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|Cash Flows From
        Operating Activities                                                                              
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|Cash Flows From
        Investing Activities                                                                              
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|Cash Flows From
        Financing Activities                                                                              
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|Net Decrease in
        Cash and Cash Equivalents                                                                         
|Cash and Cash Equivalents
        at Beginning of Period                                                                  
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|Cash and Cash Equivalents
        at End of Period                                                                        
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|The
        accompanying Notes to Condensed Financial Statements are an integral part
        of the financial statements.

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|CONDENSED
        BALANCE SHEET                                                                                           
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|PPL Transition Bond Company,
        LLC                                                                                  
|(Unaudited)                                                                                                               
|(Thousands of Dollars)                                                                                                    
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|ASSETS                                                                                                                    
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|LIABILITIES AND
        MEMBER'S EQUITY                                                                                   
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|The
        accompanying Notes to Condensed Financial Statements are an integral part
        of the financial statements.

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PPL Transition Bond Company, LLCNotes to Condensed Financial Statements

Terms and abbreviations appearing in Notes to Condensed Financial Statements
  are explained in the glossary.

1. Interim Financial Statements
    Certain information in footnote disclosures, normally included in financial
      statements prepared in accordance with accounting standards generally accepted
      in the U.S., has been condensed or omitted in this Form 10-Q pursuant to
      the rules and regulations of the SEC. These condensed financial statements
      should be read in conjunction with the financial statements and notes included
      in PPL Transition Bond Company, LLC's Annual Report to the SEC on Form 10-K
      for the year ended December 31, 2002.
2. Nature of Operations
    The condensed financial statements include the accounts of PPL Transition
      Bond Company, LLC. The Company is a limited liability company established
      under the laws of the State of Delaware, and was formed on March 25, 1999,
      pursuant to the filing of a certificate of formation with the Delaware Secretary
      of State and a limited liability company agreement. PPL Electric Utilities
      is the sole member of the Company.
    The Company was organized for the sole purpose of purchasing and owning
      ITP, issuing transition bonds, or Bonds, pledging its interest in ITP and
      other collateral to the Trustee under an Indenture between the Company and
      the Trustee to collateralize the Bonds, and performing activities that are
      necessary to accomplish these purposes. ITP represents the irrevocable right
      of PPL Electric Utilities, or its successor or assignee, to collect a non-bypassable
      ITC from customers pursuant to the PUC Restructuring Order in accordance
      with the Competition Act. The PUC Restructuring Order authorized the ITC
      to be sufficient to recover up to $2.85 billion aggregate principal amount
      of Bonds, plus an amount sufficient to provide for any credit enhancement,
      to fund any reserves and to pay interest, redemption premiums, servicing
      fees and other expenses relating to the Bonds.
    The Company's organizational documents require it to operate in a manner
      so that its assets would not be consolidated with the bankruptcy estate
      of PPL Electric Utilities in the event PPL Electric Utilities becomes subject
      to a bankruptcy proceeding. Both PPL Electric Utilities and the Company
      have treated the transfer of the ITP to the Company as a sale under applicable
      law. The Bonds are treated as debt obligations of the Company. The assets
      of the Company are not available to creditors of PPL Electric Utilities
      or PPL Corporation, and the ITP is legally not an asset of PPL Electric
      Utilities or PPL Corporation. The Company is expected to terminate its existence
      after final maturity of the Bonds.
    The Company issued $2.42 billion of Bonds in eight different classes on
      August 10, 1999. See Note 4 for additional information.
3. Summary of Significant Accounting Policies

    Management's Estimates
    The preparation of condensed financial statements in conformity with generally
      accepted accounting principles requires management to make estimates and
      assumptions. These estimates and assumptions will affect the reported amount
      of revenues, expenses, assets and liabilities, and disclosure of contingencies.
      Actual results could differ from these estimates.

    Cash and Cash Equivalents
    The Company considers all liquid debt instruments purchased with a maturity
      of three months or less to be cash equivalents. Cash and Cash Equivalents
      do not include Restricted Funds.

    Restricted Funds
    Under the Indenture, the Company deposited an amount equal to 0.5% of the
      initial principal amount of the Series 1999-1 Bonds into the Capital Subaccount
      with the Trustee. This amount was contributed by PPL Electric Utilities
      to the Company. This account is the last account drawn in the event funds
      are insufficient to make scheduled allocations. If the Capital Subaccount
      is used, it will be replenished from ITC remittances to its original level
      through the periodic reconciliation process. The Indenture also provides
      for an Overcollateralization Subaccount. The funding level of this account
      is 0.5% of the initial principal amount of the Series 1999-1 Bonds, funded
      ratably over the life of the Bonds. Any excess amounts of ITC collections,
      which are initially deposited in the General Subaccount, and investment
      earnings not released to the Company are deposited into a Reserve Subaccount.
      All of the subaccounts are classified as "Restricted Funds" on the Balance
      Sheet.
    Amortization of Intangible Transition Property
    The ITP was recorded at the acquired cost and is being amortized over the
      life of the Bonds, based on ITC revenues, interest accruals and other fees.
      The ITP is solely the property of the Company. The amortization of intangible
      transition property and interest expense on the transition bonds offset
      ITC revenues, resulting in minimal impact on earnings.

    Amortization of Debt Issuance Costs and Discount on Debt
    The costs associated with the issuance of the Bonds have been capitalized
      and are being amortized over the life of the Bonds, utilizing the effective
      interest method.
    Income Taxes
    The Company is a limited liability company and has elected to be disregarded
      as a separate entity for federal and state income tax purposes. The Company's
      taxable income or loss is included in the consolidated federal and state
      income tax returns of its member. The Condensed Statement of Operations
      and Changes in Member's Equity reflects the Company's pro rata allocation
      of its Member's consolidated income taxes in accordance with its Member's
      tax sharing policy.
4. Long-Term Debt and Source of Repayment
    In August 1999, the Company issued $2.42 billion of Series 1999-1 Bonds.
      The Bonds consist of eight classes. The Company used the proceeds from the
      Bonds to purchase ITP from CEP Securities. PPL Electric Utilities arranged
      for the formation of CEP Securities to provide flexibility to issue multiple
      tranches of transition bonds at different dates. The Bonds are collateralized
      by the ITP and the amounts in the subaccounts maintained by the Trustee
      under the Indenture (as described below).
    Scheduled maturities and interest rates for the Bonds at September 30, 2003
      are:
    
    Class
        
        Bond Rate
        
        
        Amount
        
        Expected Final 
            Payment Date
        
        Final Maturity Date($ Thousands)A-1
        
        6.08%
        
        $
        0
        
        March 25, 2001
        
        March 25, 2003A-2
        
        6.41%
        
        
        0
        
        December 26, 2001
        
        December 26, 2003A-3
        
        6.60%
        
        
        0
        
        March 25, 2003
        
        March 25, 2005A-4
        
        6.72%
        
        
        36,944
        
        December 26, 2003
        
        December 26, 2005A-5
        
        6.83%
        
        
        313,000
        
        March 25, 2005
        
        March 25, 2007A-6
        
        6.96%
        
        
        223,000
        
        December 26, 2005
        
        December 26, 2007A-7
        
        7.05%
        
        
        455,000
        
        June 25, 2007
        
        June 25, 2009A-8
        
        7.15%
        
        
        454,000
        
        December 26, 2008
        
        June 25, 2009$
        1,481,944Current Maturities
        
        (261,709
        )Unamort. Discount
        
        (55
        )Long-term Debt
        $
        1,220,180The fair market value of the transition bonds was approximately $1,655,866
      thousand at September 30, 2003. The estimated fair value of the bonds is
      based on a yield curve for similarly rated securities, with the cash flows
      discounted back to present value. The current maturities stated above are
      based on the expected final payment dates rather than the final maturity
      date.
    The source of repayment for the Bonds is the ITC. The Servicer collects
      this non-bypassable charge from PPL Electric Utilities' retail consumers
      of electricity. The Servicer deposits ITC monthly collections into a General
      Subaccount maintained by the Trustee under the Indenture. The monthly ITC
      collections from the billing periods of December 2002 through August 2003
      were $281 million in aggregate. Each quarter, such monies are used to make
      principal and interest payments on the Bonds, and to pay fees, costs and
      charges specified in the Indenture. The Trustee made scheduled payments
      on March 25, June 25 and September 25, 2003. The Indenture also includes
      a Reserve Subaccount that is maintained for the purpose of retaining any
      excess amount of ITC collections and investment earnings not released to
      the Company. The Indenture also provides for an Overcollateralization Subaccount.
      The funding level of this account is 0.5% of the initial principal amount
      of the Series 1999-1 Bonds, funded ratably over the life of the Bonds. To
      meet the required Overcollateralization Subaccount level of $5.2 million,
      the following deposits were made, $316,000, $314,000 and $314,000 on the
      scheduled payment dates noted above. Additionally, an amount equal to 0.5%
      of the initial principal amount of the Bonds was deposited into the Capital
      Subaccount under the Indenture on the date of issuance. If amounts available
      in the General, Reserve and Overcollateralization Subaccounts are not sufficient
      on any payment date to make scheduled payments, the Trustee will draw on
      amounts in the Capital Subaccount in excess of $100,000. Any remaining amounts
      collateralizing the Bonds will be released to the Company upon final payment
      on the Bonds.
    
    At September 30, 2003, the following balances were reflected in the Subaccounts
      maintained by the Trustee:
    
    Subaccounts
        
        
        Balance($
            Thousands)General
        
        $Reserve
        
        
        8,945Overcollateralization
        
        
        5,245Capital
        
        
        12,132Total
        
        $
        26,322
5. Significant Agreements and Related Party Transactions

Under the Servicing Agreement, PPL Electric Utilities, as Servicer, is required
  to manage and administer the ITP of the Company and to collect the ITC on behalf
  of the Company. The Company pays an annual servicing fee of $1.25 million to
  PPL Electric Utilities, and other administrative fees of $100,000. For the nine
  months ended September 30, 2003, the Company expensed servicing fees of
  approximately $937,000 and other administrative fees of $75,000. The Company
  expensed similar amounts in the nine months ended September 30, 2002.
At September 30, 2003, the Balance Sheet includes a receivable from PPL Electric
  Utilities of approximately $65 million for billed and unbilled ITC revenues.

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PPL Transition Bond Company, LLC
  Item 2.Management's Discussion and Analysis of Financial Condition and Results
  of Operations



Forward-Looking Information

Certain statements contained in this Form 10-Q concerning expectations, beliefs,
  plans, objectives, goals, strategies, future events or performance and underlying
  assumptions and other statements which are other than statements of historical
  facts are "forward-looking statements" within the meaning of the federal securities
  laws. Although PPL Electric Utilities and the Company believe that the expectations
  and assumptions reflected in these statements are reasonable, there can be no
  assurance that these expectations will prove to have been correct. These forward-looking
  statements involve a number of risks and uncertainties, and actual results may
  differ materially from the results discussed in the forward-looking statements.
  Any such forward-looking statements should be considered in conjunction with
  other documents of PPL Electric Utilities and the Company on file with the SEC.

New factors that could cause actual results to differ materially from those
  described in forward-looking statements emerge from time to time, and it is
  not possible for PPL Electric Utilities or the Company to predict all of such
  factors, or the extent to which any such factor or combination of factors may
  cause actual results to differ from those contained in any forward-looking statement.
  Any forward-looking statement speaks only as of the date on which such statement
  is made, and neither PPL Electric Utilities nor the Company undertakes any obligation
  to update the information contained in such statement to reflect subsequent
  developments or information.

Background

The Company is a Delaware limited liability company organized in March 1999
  for the sole purpose of purchasing and owning ITP, issuing transition bonds,
  pledging its interest in ITP and other collateral to the Trustee under an Indenture
  between the Company and the Trustee to collateralize the Bonds, and performing
  activities that are necessary to accomplish these purposes. The Company is wholly-owned
  by PPL Electric Utilities. The Company's organizational documents require it
  to operate in a manner so that its assets would not be consolidated with the
  bankruptcy estate of PPL Electric Utilities in the event PPL Electric Utilities
  becomes subject to a bankruptcy proceeding.

The following analysis of the financial condition and results of operations
  of the Company is in an abbreviated format pursuant to Instructions H(1)(a)
  and (b) of Form 10-Q. Such analysis should be read in conjunction with the Financial
  Statements and Notes to Condensed Financial Statements included in Item 1 above,
  and with the section entitled "Review of the Financial Condition and Results
  of Operations" in the Company's Annual Report to the SEC on Form 10-K for the
  year ended December 31, 2002.

Results of Operations

Revenues

Revenues generated from the ITP for the nine months ended September 30, 2003
  and 2002 were approximately $276 million and $268 million. The increase in ITC
  revenues was due to an increase in electricity delivery sales by PPL Electric
  Utilities.

During the nine months ended September 30, 2003 and 2002, the Company also
  earned approximately $112,000 and $170,000 in interest from the Capital Subaccount
  maintained by the Trustee and from temporary investments. The decrease in interest
  income in 2003 reflects a lower rate of return on investments in the Capital
  Subaccount in 2003 compared with 2002.

Expenses

Amortization of the ITP (which is based on ITC revenues, interest accruals
  and other fees) was approximately $188 million and $169 million for the nine
  months ended September 30, 2003 and 2002. The increase in ITP amortization reflects
  higher ITC revenues, as noted above, and the decrease in interest expense.

During the nine months ended September 30, 2003 and 2002, the Company incurred
  interest expense of approximately $86 million and $98 million. Interest expense
  includes interest on the Bonds and amortization of debt issuance expenses and
  discounts on the Bonds. The decrease in interest expense was the result of the
  scheduled repayments on the Bonds.

For the nine months ended September 30, 2003 and 2002, the Company also incurred
  administrative and general expenses of approximately $1.4 million and $1.3 million,
  including servicing fees of approximately $937,000 and other administrative
  fees of $75,000 in each period.

ITC Remittances and Debt Servicing

The principal amount of the Bonds, interest, fees and funding of the Overcollateralization
  Subaccount are being recovered through the ITC payable by retail consumers of
  electricity within PPL Electric Utilities' service territory who receive its
  electric delivery service. As part of PPL Electric Utilities' responsibility
  as Servicer under the Servicing Agreement, PPL Electric Utilities remitted to
  the Trustee approximately $281 million of ITC collections for the billing periods
  of December 2002 to August 2003.

All scheduled quarterly Bond principal payments, interest payments and all
  related expenses were made on March 25, June 25 and September 25, 2003. On March
  25, 2003, a scheduled principal payment of $32 million was made on the Class
  A-3 Bonds and this series was retired. On March 25, June 25 and September 25,
  2003, scheduled principal payments of $38 million, $67 million and $60 million
  were made on the Class A-4 bonds.

The Servicing Agreement also requires PPL Electric Utilities, as Servicer,
  to file adjustment requests on each calculation date, and the Competition Act
  and the PUC Restructuring Order require the PUC to act upon these requests within
  specified time periods. These adjustment requests are based on actual ITC collections
  and updated assumptions by the Servicer as to projected future usage of electricity
  by customers, expected delinquencies and write-offs, and future payments and
  expenses relating to the ITP and the Bonds. The Servicer filed such an adjustment
  request with the PUC on December 15, 2002. The request was approved and revised
  rates became effective on January 1, 2003.

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Item 3. Quantitative and Qualitative
  Disclosures About Market Risk

Not applicable.

|Item 4. Controls
        and Procedures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
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|PART II. OTHER INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
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|Item 1. Legal Proceedings                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
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|In March 2003, the Derry Township Municipal
        Authority (DTMA), a retail customer of PPL Electric Utilities, petitioned
        the PUC for a declaratory order providing that PPL Electric Utilities
        must permit the prepayment or buy-out of DTMA's ITC obligation. In April
        2003, PPL Electric Utilities filed with the PUC an answer and a motion
        to dismiss the DTMA's petition on the grounds that there is no legal basis
        for such a prepayment or buy-out of ITC and that such a prepayment would
        violate the PUC's qualified rate orders relating to the ITC. In May 2003,
        the Company and The Bank of New York, as Trustee, each filed a petition
        to intervene in this proceeding. In August 2003, the PUC denied PPL Electric
        Utilities' motion to dismiss, granted the petitions to intervene and assigned
        this proceeding to an Administrative Law Judge. In August 2003, the Company
        and PPL Electric Utilities filed a motion for reconsideration of the PUC's
        order, and DTMA filed an answer to this motion. In September, the PUC
        granted the petition pending disposition on the merits, corrected a factual
        error in its August order and reconsidered its decision to assign this
        matter to the Office of Administrative Law Judge. Neither the Company
        nor PPL Electric Utilities can predict the outcome of this proceeding.
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|Item 6. Exhibits and
        Reports on Form 8-K                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 
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GLOSSARY OF TERMS AND ABBREVIATIONS



Capital Subaccount - An account held by the Trustee under the
  Indenture, which was funded by a contribution to PPL Transition Bond Company,
  LLC by PPL Electric Utilities at the date of issuance of each series of transition
  bonds.

CEP Securities - CEP Securities Co. LLC, a Delaware limited liability
  company and formerly an indirect wholly-owned subsidiary of PPL Electric Utilities.
  Effective July 1, 2000, CEP Securities became an indirect, wholly-owned subsidiary
  of PPL Energy Funding Corporation, a direct subsidiary of PPL Corporation.

Competition Act - The Pennsylvania Electricity Generation Customer
  Choice and Competition Act, enacted in Pennsylvania in December 1996.

General Subaccount - An account held by the Trustee under the
  Indenture, into which ITC remittances from the Servicer are deposited. The Trustee
  allocates the funds from the General Subaccount to other subaccounts on the
  quarterly payment dates for the transition bonds.

Indenture - The Indenture entered into by PPL Transition Bond
  Company, LLC and the Trustee, providing for the issuance of the transition bonds.

ITC - Intangible Transition Charge, which PPL Electric Utilities
  has been authorized by the PUC to impose on customer bills and to collect through
  a non-bypassable billing mechanism to recover Qualified Transition Expenses.

ITP-Intangible Transition Property, which is the property
  right created under the Competition Act, representing the irrevocable right
  of PPL Transition Bond Company, LLC to receive, through the ITC, amounts sufficient
  to recover all Qualified Transition Expenses.

Overcollateralization Subaccount - An account held by the Trustee
  under the Indenture, which is funded ratably from collections of the ITC over
  the term of each series of transition bonds.

PPL - PPL Corporation, the parent holding company of PPL Electric
  Utilities, PPL Energy Funding and other subsidiaries.

PPL Electric Utilities - PPL Electric Utilities Corporation,
  the sole member of PPL Transition Bond Company, LLC.

PPL Energy Funding - PPL Energy Funding Corporation, which is a
  subsidiary of PPL and the parent company of PPL Energy Supply, LLC.

PUC - Pennsylvania Public Utility Commission.

PUC Restructuring Order - The final order issued by the PUC to
  PPL Electric Utilities in August 1998, in connection with PPL Electric Utilities'
  restructuring filing under the Competition Act, as supplemented by a May 1999
  PUC order.

Qualified Transition Expenses - The transition or stranded costs
  of an electric utility approved by the PUC for recovery through the issuance
  of transition bonds under the Customer Choice Act; the costs of retiring existing
  debt or equity capital of the electric utility or its holding company parent,
  including accrued interest and acquisition or redemption premium, costs of defeasance,
  and other related fees, costs and charges, through the issuance of transition
  bonds or the assignment, sale or other transfer of ITP; and the costs incurred
  to issue, service or refinance the transition bonds, including accrued interest
  and acquisition or redemption premium, and other related fees, costs and charges
  associated with the transition bonds, or to assign, sell or otherwise transfer
  ITP.

Reserve Subaccount - An account held by the Trustee under the
  Indenture, which consists of remaining funds available after required allocations
  on the quarterly payment dates for the transition bonds.

SEC - Securities and Exchange Commission.

Servicer - PPL Electric Utilities acting in this capacity under
  the Servicing Agreement. In this capacity, PPL Electric Utilities calculates,
  bills and collects the ITC, and maintains applicable accounting records, among
  other duties.

Servicing Agreement - The Intangible Property Servicing Agreement
  between PPL Electric Utilities, as Servicer, and PPL Transition Bond Company,
  LLC, as Issuer.

Trustee - The Bank of New York, a New York banking corporation,
  as Trustee under the Indenture.

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|SIGNATURES                                                                                                                                                                                                      
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|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.
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|Date: November 7, 2003                                                                                                                                                                                          
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