Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2011

Commitments and Contingencies [Abstract]

Unrecorded Unconditional Purchase Obligations

Future obligations for power purchases from OVEC are unconditional demand payments, comprised of annual minimum debt service payments, as well as contractually required reimbursement of plant operating, maintenance and other expenses as follows:

	LG&E		KU		Total

2012	$	20	$	9	$	29
2013		21		9		30
2014		21		9		30
2015		21		10		31
2016		22		10		32
Thereafter		595		264		859
	$	700	$	311	$	1,011

In addition, LG&E and KU had total energy purchases under the OVEC power purchase agreement for the periods ended as follows:

	Successor				Predecessor
			Two Months		Ten Months
	Year Ended		Ended		Ended		Year Ended
	December 31,		December 31,		October 31,		December 31,
	2011		2010		2010		2009

LG&E	$	22	$	4	$	17	$	19
KU		10		2		7		8
Total	$	32	$	6	$	24	$	27

Guarantees

The table below details guarantees provided as of December 31, 2011. The total recorded liability at December 31, 2011 and 2010 was $14 million for PPL and $11 million for LKE. Other than as noted in the descriptions for "WPD guarantee of pension and other obligations of unconsolidated entities," the probability of expected payment/performance under each of these guarantees is remote.

	Exposure at			Expiration
	December 31, 2011 (a)			Date
PPL
Indemnifications for sale of PPL Gas Utilities	$	300	(b)
Indemnifications related to the WPD Midlands acquisition			(c)
WPD indemnifications for entities in liquidation and sales of assets		287	(d)	2014 - 2018
WPD guarantee of pension and other obligations of unconsolidated entities		88	(e)	2015
Tax indemnification related to unconsolidated WPD affiliates		8	(f)	2012

PPL Energy Supply (g)
Letters of credit issued on behalf of affiliates		21	(h)	2012 - 2014
Retrospective premiums under nuclear insurance programs		44	(i)
Nuclear claims assessment under The Price-Anderson Act Amendments under The Energy Policy Act of 2005		235	(j)
Indemnifications for sales of assets		338	(k)	2012 - 2025
Indemnification to operators of jointly owned facilities		6	(l)
Guarantee of a portion of a divested unconsolidated entity's debt		22	(m)	2018


PPL Electric (n)
Guarantee of inventory value		14	(o)	2016

LKE (n)
Indemnification of lease termination and other divestitures		301	(p)	2021 - 2023

LG&E and KU (q)
LG&E and KU guarantee of shortfall related to OVEC			(r)	2040

- Definition

Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

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- Definition

Tabular disclosure of unconditional purchase obligations that are not recognized as a liability on the balance sheet, including the nature and significant terms of an unconditional purchase obligation; the amount of the fixed and determinable portion of the obligation as of the date of the latest balance sheet presented in the aggregate and, if determinable, for each of the five succeeding fiscal years; the nature of any variable components of the obligation; the amount purchased under the obligation (for example, the take-or-pay or throughput contract) for the reporting period; and may include the amount of imputed interest necessary to reduce the obligation to present value.

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