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: December 2003, January 2004, February
        2004
      Payment Date: March 25, 2004
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|1. | Collections Allocable and Aggregate
        Amounts Available for the Current Payment Date:    |                                                            
|-- | ---------------------------------------------------------------------------------------------- | -----------------------------------------------------------
|   | i.                                                                                             | Remittances for the December 2003
        Collection Period
|   | ii.                                                                                            | Remittances for the January 2004
        Collection Period 
|   | iii.                                                                                           | Remittances for the February 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                                       | 1,350,538,788.00                        
|--- | ---------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------- | ----------------------------------------
|    |                                                                                                            |                                                                         |                                         
|    | x.                                                                                                         | Required Class A-1 Coupon (6.08%
        per annum rate)                | 0.00                                    
|    | xi.                                                                                                        | Required Class A-2 Coupon (6.41%
        per annum rate)                | 0.00                                    
|    | xii.                                                                                                       | Required Class A-3 Coupon (6.60%
        per annum rate)                | 0.00                                    
|    | xiii.                                                                                                      | Required Class A-4 Coupon (6.72%
        per annum rate)                | 0.00                                    
|    | xiv.                                                                                                       | Required Class A-5 Coupon (6.83%
        per annum rate)                | 4,957,555.11                            
|    | xv.                                                                                                        | Required Class A-6 Coupon (6.96%
        per annum rate)                | 3,880,200.00                            
|    | xvi.                                                                                                       | Required Class A-7 Coupon (7.05%
        per annum rate)                | 8,019,375.00                            
|    | xvii.                                                                                                      | Required Class A-8 Coupon (7.15%
        per annum rate)                | 8,115,250.00                            
|    | xviii.                                                                                                     | Required Overcollateralization
        Funding                          | 327,027.00                              
|    | xix.                                                                                                       | Required Capital Subaccount Funding                                     | 0.00                                    
|    |                                                                                                            |                                                                         |                                         
|4.  | Allocation of Remittances as
        of Current Payment Date Pursuant to Section 8.02(d) of the Indenture:
|*   | i.                                                                                                         | Bond Trustee Fees and Expenses                                          | 5,625.00                                
|    | ii.                                                                                                        | Independent Managers Fee                                                | 0.00                                    
|**  | iii.                                                                                                       | Servicing Fee                                                           |                                         
|**  | iv.                                                                                                        | Quarterly Administration Fee                                            | 25,000.00                               
|**  | v.                                                                                                         | Operating Expenses (subject to
        $100,000 cap)                    | 86,336.31                               
|    | vi.                                                                                                        | Quarterly Interest                                                      |                                         
|    |                                                                                                            | 1.                                                                      | Class A-1 Bond
        Coupon Payment   
|    |                                                                                                            | 2.                                                                      | Class A-2 Bond
        Coupon Payment   
|    |                                                                                                            | 3.                                                                      | Class A-3 Bond
        Coupon Payment   
|    |                                                                                                            | 4.                                                                      | Class A-4 Bond
        Coupon Payment   
|    |                                                                                                            | 5.                                                                      | Class A-5 Bond
        Coupon Payment   
|    |                                                                                                            | 6.                                                                      | Class A-6 Bond
        Coupon Payment   
|    |                                                                                                            | 7.                                                                      | Class A-7 Bond
        Coupon Payment   
|    |                                                                                                            | 8.                                                                      | Class A-8 Bond
        Coupon Payment   
|    | vii.                                                                                                       | Principal Due and Payable                                               | 0.00                                    
|    | viii.                                                                                                      | Scheduled Quarterly Principal                                           | 71,801,189.00                           
|    |                                                                                                            | 1.                                                                      | Class A-1 Bond
        Principal Payment
|    |                                                                                                            | 2.                                                                      | Class A-2 Bond
        Principal Payment
|    |                                                                                                            | 3.                                                                      | Class A-3 Bond
        Principal Payment
|    |                                                                                                            | 4.                                                                      | Class A-4 Bond
        Principal Payment
|    |                                                                                                            | 5.                                                                      | Class A-5 Bond
        Principal Payment
|    |                                                                                                            | 6.                                                                      | Class A-6 Bond
        Principal Payment
|    |                                                                                                            | 7.                                                                      | Class A-7 Bond
        Principal Payment
|    |                                                                                                            | 8.                                                                      | Class A-8 Bond
        Principal Payment
|**  | ix.                                                                                                        | Operating Expenses (in excess of
        $100,000)                      | 0.00                                    
|    | x.                                                                                                         | Funding of Capital Subaccount (to
        required level)               | 0.00                                    
|    | xi.                                                                                                        | Funding of Overcollateralization
        Subaccount (to required level) | 314,467.57                              
|*** | xii.                                                                                                       | Net Earnings on Capital Subaccount
        Released to Issuer           | 28,612.94                               
|    | xiii.                                                                                                      | Withdrawal from Reserve Subaccount                                      | (2,020,565.63)                          
|    | xiv.                                                                                                       | Released to Issuer upon Series
        Retirement: Collection Account   | 0.00                                    
|    |                                                                                                            |                                                                         |                                         
|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                                             | 0.00                                    
|    | ii.                                                                                                        | Class A-2 Principal Balance                                             | 0.00                                    
|    | iii.                                                                                                       | Class A-3 Principal Balance                                             | 0.00                                    
|    | iv.                                                                                                        | Class A-4 Principal Balance                                             | 0.00                                    
|    | v.                                                                                                         | Class A-5 Principal Balance                                             | 218,538,788.00                          
|    | vi.                                                                                                        | Class A-6 Principal Balance                                             | 223,000,000.00                          
|    | vii.                                                                                                       | Class A-7 Principal Balance                                             | 455,000,000.00                          
|    | viii.                                                                                                      | Class A-8 Principal Balance                                             | 454,000,000.00                          
|    | ix.                                                                                                        | Transition Bond Principal Balance                                       | 1,350,538,788.00                        

|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|------------------------------------------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------ | ---------------------------------------- | -------------- |  | 
|                                                                                                                                                       | x.                                                                                                                 | Reserve Subaccount Balance                       | 9,353,965.76                            
|                                                                                                                                                       | xi.                                                                                                                | Overcollateralization Subaccount
        Balance | 5,886,486.16                            
|                                                                                                                                                       | xii.                                                                                                               | Capital Subaccount Balance (less
        $100K)  | 12,000,000.00                           
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|6.                                                                                                                                                     | Subaccount Draws as of Current
        Payment Date (if applicable, pursuant to Section 8.02(d) of the Indenture):
|                                                                                                                                                       | i.                                                                                                                 | Reserve Subaccount                               | (2,020,565.63)                          
|                                                                                                                                                       | ii.                                                                                                                | Overcollateralization Subaccount                 | 0.00                                    
|                                                                                                                                                       | iii.                                                                                                               | Capital Subaccount                               |                                          | 0.00          
|                                                                                                                                                       | iv.                                                                                                                | Total Draws                                      |                                          | (2,020,565.63)
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|7.                                                                                                                                                     | Shortfalls In Interest and Principal
        Payments as of Current Payment Date:                                  |                                                 
|                                                                                                                                                       | i.                                                                                                                 | Quarterly Interest                               |                                          | 0.00          
|                                                                                                                                                       |                                                                                                                    | 1.                                               | Class A-1 Bond
        Coupon Payment    | 0.00          
|                                                                                                                                                       |                                                                                                                    | 2.                                               | Class A-2 Bond
        Coupon Payment    | 0.00          
|                                                                                                                                                       |                                                                                                                    | 3.                                               | Class A-3 Bond
        Coupon Payment    | 0.00          
|                                                                                                                                                       |                                                                                                                    | 4.                                               | Class A-4 Bond
        Coupon Payment    | 0.00          
|                                                                                                                                                       |                                                                                                                    | 5.                                               | Class A-5 Bond
        Coupon Payment    | 0.00          
|                                                                                                                                                       |                                                                                                                    | 6.                                               | Class A-6 Bond
        Coupon Payment    | 0.00          
|                                                                                                                                                       |                                                                                                                    | 7.                                               | Class A-7 Bond
        Coupon Payment    | 0.00          
|                                                                                                                                                       |                                                                                                                    | 8.                                               | Class A-8 Bond
        Coupon Payment    | 0.00          
|                                                                                                                                                       | ii.                                                                                                                | Quarterly Principal                              | 0.00                                    
|                                                                                                                                                       |                                                                                                                    | 1.                                               | Class A-1 Bond
        Principal Payment | 0.00          
|                                                                                                                                                       |                                                                                                                    | 2.                                               | Class A-2 Bond
        Principal Payment | 0.00          
|                                                                                                                                                       |                                                                                                                    | 3.                                               | Class A-3 Bond
        Principal Payment | 0.00          
|                                                                                                                                                       |                                                                                                                    | 4.                                               | Class A-4 Bond
        Principal Payment | 0.00          
|                                                                                                                                                       |                                                                                                                    | 5.                                               | Class A-5 Bond
        Principal Payment | 0.00          
|                                                                                                                                                       |                                                                                                                    | 6.                                               | Class A-6 Bond
        Principal Payment | 0.00          
|                                                                                                                                                       |                                                                                                                    | 7.                                               | Class A-7 Bond
        Principal Payment | 0.00          
|                                                                                                                                                       |                                                                                                                    | 8.                                               | Class A-8 Bond
        Principal Payment | 0.00          
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|8.                                                                                                                                                     | Shortfalls in Required Subaccount
        Levels as of Current Payment Date:                                       |                                                 
|                                                                                                                                                       | i.                                                                                                                 | Overcollateralization Subaccount                 | 0.00                                    
|                                                                                                                                                       | ii.                                                                                                                | Capital Subaccount                               |                                          | 0.00          
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|IN WITNESS HEREOF, the undersigned
        has duly executed and delivered this Quarterly Servicer's Certificate
        this 23rd day of March, 2004. |                                                                                                                   
|                                                                                                                                                       |                                                                                                                    |                                                 
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|PPL Electric Utilities Corporation,
        as Servicer                                                                                                |                                                                                                                   
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|by: /s/ James E. Abel                                                                                                                                  |                                                                                                                   
|                                                                                                                                                       | James E. Abel                                                                                                      |                                                  |                                         
|                                                                                                                                                       | Treasurer                                                                                                          |                                                  |                                          |               
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|                                                                                                                                                       |                                                                                                                    |                                                  |                                          |                |  | 
|Note: Quarterly allocation of items
        in 4:                                                                                                      |                                                                                                                   
|*                                                                                                                                                      | Bank of New York                                                                                                   |                                                  |                                         
|**                                                                                                                                                     | PPL Electric Utilities Corporation                                                                                 |                                                 
|***                                                                                                                                                    | PPL Transition Bond Company, LLC                                                                                   |