Commitments and Contingencies (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2015

Dec. 31, 2014

Guarantees

Talen Energy’s exposure and related expiration dates are:

	Exposure at June 30, 2015		Expiration Date
Indemnifications for sales of assets	$	1,150		2016 - 2025

PPL Energy Supply LLC [Member]

Labor Agreement Negotiations

At December 31, 2014, the following total separation benefits were recorded.

Pension Benefits	$	11
Severance Compensation		6
Total Separation Benefits	$	17
Number of Employees		105

Guarantees

The total recorded liability at December 31, 2014 was $13 million for PPL Energy Supply.

	Exposure at December 31, 2014			Expiration Date
Letters of credit issued on behalf of affiliates	$	25	(a)		2015 – 2016
Indemnifications for sales of assets		1,150	(b)		2016 – 2025

(a) Standby letter of credit arrangements under PPL Energy Supply’s credit facilities for the purposes of protecting various third parties against nonperformance by PPL.

(b) Indemnifications are governed by the specific sales agreement and include breach of the representations, warranties and covenants, and liabilities for certain other matters. PPL Energy Supply’s maximum exposure with respect to certain indemnifications and the expiration of the indemnifications cannot be estimated because the maximum potential liability is not capped by the transaction documents and the expiration date is based on the applicable statute of limitations. The exposure and expiration date noted is based on those cases in which the agreements provide for specific limits. The exposure at December 31, 2014 includes amounts related to the sale of the Montana Hydroelectric facilities. See Note 4 for additional information related to the sale.