Exhibit 99

|Quarterly Servicer's Certificate

      
      PPL Transition Bond Company LLC
      $2,420,000,000 Transition Bonds, Series 1999-1
      

      Pursuant to Section 4 of Annex 1 the Intangible Transition
        Property Servicing Agreement dated as of August 10, 1999 (the "Servicing
        Agreement") between PPL Electric Utilities Corporation, as Servicer and
        PPL Transition Bond Company, LLC, as Issuer, the Servicer does hereby
        certify as follows:
      
      Capitalized terms used in the Quarterly Servicer's Certificate
        (the "Quarterly Certificate") have their respective meanings as set forth
        in the Servicing Agreement. References herein to the "Indenture" are to
        the Indenture dated as of August 10, 1999 between PPL Transition Bond
        Company, LLC, as Issuer and The Bank of New York as Trustee.
      
      Billing Periods: March 2004, April 2004, May 2004
    Payment Date: June 25, 2004
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|1.                                                                                                           | Collections
        Allocable and Aggregate Amounts Available for the Current Payment Date:                                |                                                                        
|------------------------------------------------------------------------------------------------------------ | -------------------------------------------------------------------------------------------------------------------------- | -----------------------------------------------------------------------
|                                                                                                             | i.                                                                                                                         | Remittances
        for the March 2004 Collection Period               
|                                                                                                             | ii.                                                                                                                        | Remittances
        for the April 2004 Collection Period               
|                                                                                                             | iii.                                                                                                                       | Remittances
        for the May 2004 Collection Period                 
|                                                                                                             | iv.                                                                                                                        | Net Earnings
        on Collection Account                             
|                                                                                                             | v.                                                                                                                         | Net Earnings
        on Capital Subaccount                             
|                                                                                                             | vi.                                                                                                                        | Net Earnings
        on Overcollateralization Subaccount               
|                                                                                                             | vii.                                                                                                                       | Net Earnings
        on Reserve Subaccount                             
|                                                                                                             | viii.                                                                                                                      | General
        Subaccount Balance                                     
|                                                                                                             |                                                                                                                            |                                                                        
|                                                                                                             | ix.                                                                                                                        | Reserve
        Subaccount Balance                                     
|                                                                                                             | x.                                                                                                                         | Overcollateralization
        Subaccount Balance                       
|                                                                                                             | xi.                                                                                                                        | Capital
        Subaccount Balance (less $100K)                        
|                                                                                                             | xii.                                                                                                                       | Collection
        Account Balance                                     
|                                                                                                             |                                                                                                                            |                                                                        
|2.                                                                                                           | Outstanding
        Principal Balance and Collection Account Balance as of Prior Payment Date:                             |                                                                        
|                                                                                                             | i.                                                                                                                         | Class
        A-1 Principal Balance                                    
|                                                                                                             | ii.                                                                                                                        | Class
        A-2 Principal Balance                                    
|                                                                                                             | iii.                                                                                                                       | Class
        A-3 Principal Balance                                    
|                                                                                                             | iv.                                                                                                                        | Class
        A-4 Principal Balance                                    
|                                                                                                             | v.                                                                                                                         | Class
        A-5 Principal Balance                                    
|                                                                                                             | vi.                                                                                                                        | Class
        A-6 Principal Balance                                    
|                                                                                                             | vii.                                                                                                                       | Class
        A-7 Principal Balance                                    
|                                                                                                             | viii.                                                                                                                      | Class
        A-8 Principal Balance                                    
|                                                                                                             | ix.                                                                                                                        | Transition
        Bond Principal Balance                              
|                                                                                                             |                                                                                                                            |                                                                        
|                                                                                                             | x.                                                                                                                         | Reserve
        Subaccount Balance                                     
|                                                                                                             | xi.                                                                                                                        | Overcollateralization
        Subaccount Balance                       
|                                                                                                             | xii.                                                                                                                       | Capital
        Subaccount Balance                                     
|                                                                                                             |                                                                                                                            |                                                                        
|3.                                                                                                           | Required
        Funding/Payments as of Current Payment Date:                                                              |                                                                        
|                                                                                                             | i.                                                                                                                         | Projected
        Class A-1 Bond Balance                               
|                                                                                                             | ii.                                                                                                                        | Projected
        Class A-2 Bond Balance                               
|                                                                                                             | iii.                                                                                                                       | Projected
        Class A-3 Bond Balance                               
|                                                                                                             | iv.                                                                                                                        | Projected
        Class A-4 Bond Balance                               
|                                                                                                             | v.                                                                                                                         | Projected
        Class A-5 Bond Balance                               
|                                                                                                             | vi.                                                                                                                        | Projected
        Class A-6 Bond Balance                               
|                                                                                                             | vii.                                                                                                                       | Projected
        Class A-7 Bond Balance                               
|                                                                                                             | viii.                                                                                                                      | Projected
        Class A-8 Bond Balance                               
|                                                                                                             | ix.                                                                                                                        | Projected
        Transition Bond Balance                              
|                                                                                                             |                                                                                                                            |                                                                        
|                                                                                                             | x.                                                                                                                         | Required
        Class A-1 Coupon (6.08% per annum rate)               
|                                                                                                             | xi.                                                                                                                        | Required
        Class A-2 Coupon (6.41% per annum rate)               
|                                                                                                             | xii.                                                                                                                       | Required
        Class A-3 Coupon (6.60% per annum rate)               
|                                                                                                             | xiii.                                                                                                                      | Required
        Class A-4 Coupon (6.72% per annum rate)               
|                                                                                                             | xiv.                                                                                                                       | Required
        Class A-5 Coupon (6.83% per annum rate)               
|                                                                                                             | xv.                                                                                                                        | Required
        Class A-6 Coupon (6.96% per annum rate)               
|                                                                                                             | xvi.                                                                                                                       | Required
        Class A-7 Coupon (7.05% per annum rate)               
|                                                                                                             | xvii.                                                                                                                      | Required
        Class A-8 Coupon (7.15% per annum rate)               
|                                                                                                             | xviii.                                                                                                                     | Required
        Overcollateralization Funding                         
|                                                                                                             | xix.                                                                                                                       | Required
        Capital Subaccount Funding                            
|                                                                                                             |                                                                                                                            |                                                                        
|4.                                                                                                           | Allocation
        of Remittances as of Current Payment Date Pursuant to Section 8.02(d)
        of the Indenture:        
|*                                                                                                            | i.                                                                                                                         | Bond Trustee
        Fees and Expenses                                 
|                                                                                                             | ii.                                                                                                                        | Independent
        Managers Fee                                       
|**                                                                                                           | iii.                                                                                                                       | Servicing
        Fee                                                  
|**                                                                                                           | iv.                                                                                                                        | Quarterly
        Administration Fee                                   
|**                                                                                                           | v.                                                                                                                         | Operating
        Expenses (subject to $100,000 cap)                   
|                                                                                                             | vi.                                                                                                                        | Quarterly
        Interest                                             
|                                                                                                             |                                                                                                                            | 1.                                                                     
|                                                                                                             |                                                                                                                            | 2.                                                                     
|                                                                                                             |                                                                                                                            | 3.                                                                     
|                                                                                                             |                                                                                                                            | 4.                                                                     
|                                                                                                             |                                                                                                                            | 5.                                                                     
|                                                                                                             |                                                                                                                            | 6.                                                                     
|                                                                                                             |                                                                                                                            | 7.                                                                     
|                                                                                                             |                                                                                                                            | 8.                                                                     
|                                                                                                             | vii.                                                                                                                       | Principal
        Due and Payable                                      
|                                                                                                             | viii.                                                                                                                      | Scheduled
        Quarterly Principal                                  
|                                                                                                             |                                                                                                                            | 1.                                                                     
|                                                                                                             |                                                                                                                            | 2.                                                                     
|                                                                                                             |                                                                                                                            | 3.                                                                     
|                                                                                                             |                                                                                                                            | 4.                                                                     
|                                                                                                             |                                                                                                                            | 5.                                                                     
|                                                                                                             |                                                                                                                            | 6.                                                                     
|                                                                                                             |                                                                                                                            | 7.                                                                     
|                                                                                                             |                                                                                                                            | 8.                                                                     
|**                                                                                                           | ix.                                                                                                                        | Operating
        Expenses (in excess of $100,000)                     
|                                                                                                             | x.                                                                                                                         | Funding
        of Capital Subaccount (to required level)              
|                                                                                                             | xi.                                                                                                                        | Funding
        of Overcollateralization Subaccount (to required level)
|***                                                                                                          | xii.                                                                                                                       | Net Earnings
        on Capital Subaccount Released to Issuer          
|                                                                                                             | xiii.                                                                                                                      | Withdrawal
        from Reserve Subaccount                             
|                                                                                                             | xiv.                                                                                                                       | Released
        to Issuer upon Series Retirement: Collection Account  
|                                                                                                             |                                                                                                                            |                                                                        
|5.                                                                                                           | Outstanding
        Principal Balance and Collection Account Balance as of Current Payment
        Date:                   |                                                                        
|                                                                                                             | (after
        giving effect to payments to be made on such payment date):                                                 |                                                                        
|                                                                                                             | i.                                                                                                                         | Class
        A-1 Principal Balance                                    
|                                                                                                             | ii.                                                                                                                        | Class
        A-2 Principal Balance                                    
|                                                                                                             | iii.                                                                                                                       | Class
        A-3 Principal Balance                                    
|                                                                                                             | iv.                                                                                                                        | Class
        A-4 Principal Balance                                    
|                                                                                                             | v.                                                                                                                         | Class
        A-5 Principal Balance                                    
|                                                                                                             | vi.                                                                                                                        | Class
        A-6 Principal Balance                                    
|                                                                                                             | vii.                                                                                                                       | Class
        A-7 Principal Balance                                    
|                                                                                                             | viii.                                                                                                                      | Class
        A-8 Principal Balance                                    
|                                                                                                             | ix.                                                                                                                        | Transition
        Bond Principal Balance                              
|                                                                                                             |                                                                                                                            |                                                                        
|                                                                                                             | x.                                                                                                                         | Reserve
        Subaccount Balance                                     
|                                                                                                             | xi.                                                                                                                        | Overcollateralization
        Subaccount Balance                       
|                                                                                                             | xii.                                                                                                                       | Capital
        Subaccount Balance (less $100K)                        
|                                                                                                             |                                                                                                                            |                                                                        
|6.                                                                                                           | Subaccount
        Draws as of Current Payment Date (if applicable, pursuant to Section 8.02(d)
        of the Indenture):
|                                                                                                             | i.                                                                                                                         | Reserve
        Subaccount                                             
|                                                                                                             | ii.                                                                                                                        | Overcollateralization
        Subaccount                               
|                                                                                                             | iii.                                                                                                                       | Capital
        Subaccount                                             
|                                                                                                             | iv.                                                                                                                        | Total
        Draws                                                    
|                                                                                                             |                                                                                                                            |                                                                        
|7.                                                                                                           | Shortfalls
        In Interest and Principal Payments as of Current Payment Date:                                          |                                                                        
|                                                                                                             | i.                                                                                                                         | Quarterly
        Interest                                             
|                                                                                                             |                                                                                                                            | 1.                                                                     
|                                                                                                             |                                                                                                                            | 2.                                                                     
|                                                                                                             |                                                                                                                            | 3.                                                                     
|                                                                                                             |                                                                                                                            | 4.                                                                     
|                                                                                                             |                                                                                                                            | 5.                                                                     
|                                                                                                             |                                                                                                                            | 6.                                                                     
|                                                                                                             |                                                                                                                            | 7.                                                                     
|                                                                                                             |                                                                                                                            | 8.                                                                     
|                                                                                                             | ii.                                                                                                                        | Quarterly
        Principal                                            
|                                                                                                             |                                                                                                                            | 1.                                                                     
|                                                                                                             |                                                                                                                            | 2.                                                                     
|                                                                                                             |                                                                                                                            | 3.                                                                     
|                                                                                                             |                                                                                                                            | 4.                                                                     
|                                                                                                             |                                                                                                                            | 5.                                                                     
|                                                                                                             |                                                                                                                            | 6.                                                                     
|                                                                                                             |                                                                                                                            | 7.                                                                     
|                                                                                                             |                                                                                                                            | 8.                                                                     
|                                                                                                             |                                                                                                                            |                                                                        
|8.                                                                                                           | Shortfalls
        in Required Subaccount Levels as of Current Payment Date:                                               |                                                                        
|                                                                                                             | i.                                                                                                                         | Overcollateralization
        Subaccount                               
|                                                                                                             | ii.                                                                                                                        | Capital
        Subaccount                                             
|                                                                                                             |                                                                                                                            |                                                                        
|IN
        WITNESS HEREOF, the undersigned has duly executed and delivered this Quarterly
        Servicer's |                                                                                                                           
|Certificate this 22nd day of June, 2004.                                                                    
|                                                                                                             |                                                                                                                            |                                                                        
|PPL
        Electric Utilities Corporation, as Servicer                                                      |                                                                                                                           
|                                                                                                             |                                                                                                                            |                                                                        
|by:
        _______________________                                                                          |                                                                                                                            |                                                                        
|                                                                                                             | James
        E. Abel                                                                                                      |                                                                        
|                                                                                                             | Treasurer                                                                                                                  |                                                                        
|                                                                                                             |                                                                                                                            |                                                                        
|                                                                                                             |                                                                                                                            |                                                                        
|                                                                                                             |                                                                                                                            |                                                                        
|                                                                                                             |                                                                                                                            |                                                                        
|Note:
        Quarterly allocation of items in 4:                                                            |                                                                                                                            |                                                                        
|*                                                                                                            | Bank of
        New York                                                                                                   |                                                                        
|**                                                                                                           | PPL Electric
        Utilities Corporation                                                                                 |                                                                        
|***                                                                                                          | PPL Transition
        Bond Company, LLC                                                                                   |