Utility Rate Regulation (Tables)

6 Months Ended

Jun. 30, 2014

Utility Rate Regulation [Line Items]

Regulatory Assets

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

		PPL				PPL Electric
		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7
	Gas supply clause		20		10
	Fuel adjustment clause				2
	Demand side management		3		8
	Other		5		6	$	2	$	6
Total current regulatory assets		$	29	$	33	$	2	$	6
Noncurrent Regulatory Assets:
	Defined benefit plans	$	493	$	509	$	252	$	257
	Taxes recoverable through future rates		312		306		312		306
	Storm costs		135		147		49		53
	Unamortized loss on debt		80		85		53		57
	Interest rate swaps		51		44
	Accumulated cost of removal of utility plant		105		98		105		98
	AROs		58		44
	Other		8		13				1
Total noncurrent regulatory assets		$	1,242	$	1,246	$	771	$	772

		LKE				LG&E				KU
		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7	$	1	$	2			$	5
	Gas supply clause		20		10		20		10
	Fuel adjustment clause				2				2
	Demand side management		3		8		2		3	$	1		5
	Other		3				1				2
Total current regulatory assets		$	27	$	27	$	24	$	17	$	3	$	10
Noncurrent Regulatory Assets:
	Defined benefit plans	$	241	$	252	$	162	$	164	$	79	$	88
	Storm costs		86		94		47		51		39		43
	Unamortized loss on debt		27		28		18		18		9		10
	Interest rate swaps		51		44		51		44
	AROs		58		44		25		21		33		23
	Other		8		12		3		5		5		7
Total noncurrent regulatory assets		$	471	$	474	$	306	$	303	$	165	$	171

Regulatory Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

Current Regulatory Liabilities:
	Generation supply charge	$	30	$	23	$	30	$	23
	Environmental cost recovery		1
	Gas supply clause		2		3
	Transmission service charge		6		8		6		8
	Fuel adjustment clause				4
	Transmission formula rate		32		20		32		20
	Universal service rider				10				10
	Storm damage expense		2		14		2		14
	Gas line tracker		7		6
	Other		2		2		2		1
Total current regulatory liabilities		$	82	$	90	$	72	$	76
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	694	$	688
	Coal contracts (a)		78		98
	Power purchase agreement - OVEC (a)		96		100
	Net deferred tax assets		28		30
	Act 129 compliance rider		12		15	$	12	$	15
	Defined benefit plans		28		26
	Interest rate swaps		84		86
	Other		6		5
Total noncurrent regulatory liabilities		$	1,026	$	1,048	$	12	$	15

Current Regulatory Liabilities:
		Environmental cost recovery	$	1							$	1
		Gas supply clause		2	$	3	$	2	$	3
		Fuel adjustment clause				4							$	4
		Gas line tracker		7		6		7		6
		Other				1								1
Total current regulatory liabilities			$	10	$	14	$	9	$	9	$	1	$	5
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	694	$	688	$	303	$	299	$	391	$	389
	Coal contracts (a)			78		98		34		43		44		55
	Power purchase agreement - OVEC (a)			96		100		66		69		30		31
	Net deferred tax assets			28		30		25		26		3		4
	Defined benefit plans			28		26						28		26
	Interest rate swaps			84		86		42		43		42		43
	Other			6		5		2		2		4		3
Total noncurrent regulatory liabilities			$	1,014	$	1,033	$	472	$	482	$	542	$	551

(a)These liabilities were recorded as offsets to certain intangible assets that were recorded at fair value upon the acquisition of LKE by PPL.

PPL Electric Utilities Corp [Member]

Utility Rate Regulation [Line Items]

Regulatory Assets

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

		PPL				PPL Electric
		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7
	Gas supply clause		20		10
	Fuel adjustment clause				2
	Demand side management		3		8
	Other		5		6	$	2	$	6
Total current regulatory assets		$	29	$	33	$	2	$	6
Noncurrent Regulatory Assets:
	Defined benefit plans	$	493	$	509	$	252	$	257
	Taxes recoverable through future rates		312		306		312		306
	Storm costs		135		147		49		53
	Unamortized loss on debt		80		85		53		57
	Interest rate swaps		51		44
	Accumulated cost of removal of utility plant		105		98		105		98
	AROs		58		44
	Other		8		13				1
Total noncurrent regulatory assets		$	1,242	$	1,246	$	771	$	772

		LKE				LG&E				KU
		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7	$	1	$	2			$	5
	Gas supply clause		20		10		20		10
	Fuel adjustment clause				2				2
	Demand side management		3		8		2		3	$	1		5
	Other		3				1				2
Total current regulatory assets		$	27	$	27	$	24	$	17	$	3	$	10
Noncurrent Regulatory Assets:
	Defined benefit plans	$	241	$	252	$	162	$	164	$	79	$	88
	Storm costs		86		94		47		51		39		43
	Unamortized loss on debt		27		28		18		18		9		10
	Interest rate swaps		51		44		51		44
	AROs		58		44		25		21		33		23
	Other		8		12		3		5		5		7
Total noncurrent regulatory assets		$	471	$	474	$	306	$	303	$	165	$	171

Regulatory Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

Current Regulatory Liabilities:
	Generation supply charge	$	30	$	23	$	30	$	23
	Environmental cost recovery		1
	Gas supply clause		2		3
	Transmission service charge		6		8		6		8
	Fuel adjustment clause				4
	Transmission formula rate		32		20		32		20
	Universal service rider				10				10
	Storm damage expense		2		14		2		14
	Gas line tracker		7		6
	Other		2		2		2		1
Total current regulatory liabilities		$	82	$	90	$	72	$	76
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	694	$	688
	Coal contracts (a)		78		98
	Power purchase agreement - OVEC (a)		96		100
	Net deferred tax assets		28		30
	Act 129 compliance rider		12		15	$	12	$	15
	Defined benefit plans		28		26
	Interest rate swaps		84		86
	Other		6		5
Total noncurrent regulatory liabilities		$	1,026	$	1,048	$	12	$	15

Current Regulatory Liabilities:
		Environmental cost recovery	$	1							$	1
		Gas supply clause		2	$	3	$	2	$	3
		Fuel adjustment clause				4							$	4
		Gas line tracker		7		6		7		6
		Other				1								1
Total current regulatory liabilities			$	10	$	14	$	9	$	9	$	1	$	5
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	694	$	688	$	303	$	299	$	391	$	389
	Coal contracts (a)			78		98		34		43		44		55
	Power purchase agreement - OVEC (a)			96		100		66		69		30		31
	Net deferred tax assets			28		30		25		26		3		4
	Defined benefit plans			28		26						28		26
	Interest rate swaps			84		86		42		43		42		43
	Other			6		5		2		2		4		3
Total noncurrent regulatory liabilities			$	1,014	$	1,033	$	472	$	482	$	542	$	551

LG And E And KU Energy LLC [Member]

Utility Rate Regulation [Line Items]

Regulatory Assets

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

		PPL				PPL Electric
		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7
	Gas supply clause		20		10
	Fuel adjustment clause				2
	Demand side management		3		8
	Other		5		6	$	2	$	6
Total current regulatory assets		$	29	$	33	$	2	$	6
Noncurrent Regulatory Assets:
	Defined benefit plans	$	493	$	509	$	252	$	257
	Taxes recoverable through future rates		312		306		312		306
	Storm costs		135		147		49		53
	Unamortized loss on debt		80		85		53		57
	Interest rate swaps		51		44
	Accumulated cost of removal of utility plant		105		98		105		98
	AROs		58		44
	Other		8		13				1
Total noncurrent regulatory assets		$	1,242	$	1,246	$	771	$	772

		LKE				LG&E				KU
		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7	$	1	$	2			$	5
	Gas supply clause		20		10		20		10
	Fuel adjustment clause				2				2
	Demand side management		3		8		2		3	$	1		5
	Other		3				1				2
Total current regulatory assets		$	27	$	27	$	24	$	17	$	3	$	10
Noncurrent Regulatory Assets:
	Defined benefit plans	$	241	$	252	$	162	$	164	$	79	$	88
	Storm costs		86		94		47		51		39		43
	Unamortized loss on debt		27		28		18		18		9		10
	Interest rate swaps		51		44		51		44
	AROs		58		44		25		21		33		23
	Other		8		12		3		5		5		7
Total noncurrent regulatory assets		$	471	$	474	$	306	$	303	$	165	$	171

Regulatory Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

Current Regulatory Liabilities:
	Generation supply charge	$	30	$	23	$	30	$	23
	Environmental cost recovery		1
	Gas supply clause		2		3
	Transmission service charge		6		8		6		8
	Fuel adjustment clause				4
	Transmission formula rate		32		20		32		20
	Universal service rider				10				10
	Storm damage expense		2		14		2		14
	Gas line tracker		7		6
	Other		2		2		2		1
Total current regulatory liabilities		$	82	$	90	$	72	$	76
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	694	$	688
	Coal contracts (a)		78		98
	Power purchase agreement - OVEC (a)		96		100
	Net deferred tax assets		28		30
	Act 129 compliance rider		12		15	$	12	$	15
	Defined benefit plans		28		26
	Interest rate swaps		84		86
	Other		6		5
Total noncurrent regulatory liabilities		$	1,026	$	1,048	$	12	$	15

Current Regulatory Liabilities:
		Environmental cost recovery	$	1							$	1
		Gas supply clause		2	$	3	$	2	$	3
		Fuel adjustment clause				4							$	4
		Gas line tracker		7		6		7		6
		Other				1								1
Total current regulatory liabilities			$	10	$	14	$	9	$	9	$	1	$	5
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	694	$	688	$	303	$	299	$	391	$	389
	Coal contracts (a)			78		98		34		43		44		55
	Power purchase agreement - OVEC (a)			96		100		66		69		30		31
	Net deferred tax assets			28		30		25		26		3		4
	Defined benefit plans			28		26						28		26
	Interest rate swaps			84		86		42		43		42		43
	Other			6		5		2		2		4		3
Total noncurrent regulatory liabilities			$	1,014	$	1,033	$	472	$	482	$	542	$	551

(a)These liabilities were recorded as offsets to certain intangible assets that were recorded at fair value upon the acquisition of LKE by PPL.

Louisville Gas And Electric Co [Member]

Utility Rate Regulation [Line Items]

Regulatory Assets

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

		PPL				PPL Electric
		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7
	Gas supply clause		20		10
	Fuel adjustment clause				2
	Demand side management		3		8
	Other		5		6	$	2	$	6
Total current regulatory assets		$	29	$	33	$	2	$	6
Noncurrent Regulatory Assets:
	Defined benefit plans	$	493	$	509	$	252	$	257
	Taxes recoverable through future rates		312		306		312		306
	Storm costs		135		147		49		53
	Unamortized loss on debt		80		85		53		57
	Interest rate swaps		51		44
	Accumulated cost of removal of utility plant		105		98		105		98
	AROs		58		44
	Other		8		13				1
Total noncurrent regulatory assets		$	1,242	$	1,246	$	771	$	772

		LKE				LG&E				KU
		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7	$	1	$	2			$	5
	Gas supply clause		20		10		20		10
	Fuel adjustment clause				2				2
	Demand side management		3		8		2		3	$	1		5
	Other		3				1				2
Total current regulatory assets		$	27	$	27	$	24	$	17	$	3	$	10
Noncurrent Regulatory Assets:
	Defined benefit plans	$	241	$	252	$	162	$	164	$	79	$	88
	Storm costs		86		94		47		51		39		43
	Unamortized loss on debt		27		28		18		18		9		10
	Interest rate swaps		51		44		51		44
	AROs		58		44		25		21		33		23
	Other		8		12		3		5		5		7
Total noncurrent regulatory assets		$	471	$	474	$	306	$	303	$	165	$	171

Regulatory Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

Current Regulatory Liabilities:
	Generation supply charge	$	30	$	23	$	30	$	23
	Environmental cost recovery		1
	Gas supply clause		2		3
	Transmission service charge		6		8		6		8
	Fuel adjustment clause				4
	Transmission formula rate		32		20		32		20
	Universal service rider				10				10
	Storm damage expense		2		14		2		14
	Gas line tracker		7		6
	Other		2		2		2		1
Total current regulatory liabilities		$	82	$	90	$	72	$	76
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	694	$	688
	Coal contracts (a)		78		98
	Power purchase agreement - OVEC (a)		96		100
	Net deferred tax assets		28		30
	Act 129 compliance rider		12		15	$	12	$	15
	Defined benefit plans		28		26
	Interest rate swaps		84		86
	Other		6		5
Total noncurrent regulatory liabilities		$	1,026	$	1,048	$	12	$	15

Current Regulatory Liabilities:
		Environmental cost recovery	$	1							$	1
		Gas supply clause		2	$	3	$	2	$	3
		Fuel adjustment clause				4							$	4
		Gas line tracker		7		6		7		6
		Other				1								1
Total current regulatory liabilities			$	10	$	14	$	9	$	9	$	1	$	5
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	694	$	688	$	303	$	299	$	391	$	389
	Coal contracts (a)			78		98		34		43		44		55
	Power purchase agreement - OVEC (a)			96		100		66		69		30		31
	Net deferred tax assets			28		30		25		26		3		4
	Defined benefit plans			28		26						28		26
	Interest rate swaps			84		86		42		43		42		43
	Other			6		5		2		2		4		3
Total noncurrent regulatory liabilities			$	1,014	$	1,033	$	472	$	482	$	542	$	551

(a)These liabilities were recorded as offsets to certain intangible assets that were recorded at fair value upon the acquisition of LKE by PPL.

Kentucky Utilities Co [Member]

Utility Rate Regulation [Line Items]

Regulatory Assets

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

		PPL				PPL Electric
		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7
	Gas supply clause		20		10
	Fuel adjustment clause				2
	Demand side management		3		8
	Other		5		6	$	2	$	6
Total current regulatory assets		$	29	$	33	$	2	$	6
Noncurrent Regulatory Assets:
	Defined benefit plans	$	493	$	509	$	252	$	257
	Taxes recoverable through future rates		312		306		312		306
	Storm costs		135		147		49		53
	Unamortized loss on debt		80		85		53		57
	Interest rate swaps		51		44
	Accumulated cost of removal of utility plant		105		98		105		98
	AROs		58		44
	Other		8		13				1
Total noncurrent regulatory assets		$	1,242	$	1,246	$	771	$	772

		LKE				LG&E				KU
		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
		2014		2013		2014		2013		2014		2013
Current Regulatory Assets:
	Environmental cost recovery	$	1	$	7	$	1	$	2			$	5
	Gas supply clause		20		10		20		10
	Fuel adjustment clause				2				2
	Demand side management		3		8		2		3	$	1		5
	Other		3				1				2
Total current regulatory assets		$	27	$	27	$	24	$	17	$	3	$	10
Noncurrent Regulatory Assets:
	Defined benefit plans	$	241	$	252	$	162	$	164	$	79	$	88
	Storm costs		86		94		47		51		39		43
	Unamortized loss on debt		27		28		18		18		9		10
	Interest rate swaps		51		44		51		44
	AROs		58		44		25		21		33		23
	Other		8		12		3		5		5		7
Total noncurrent regulatory assets		$	471	$	474	$	306	$	303	$	165	$	171

Regulatory Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations.

Current Regulatory Liabilities:
	Generation supply charge	$	30	$	23	$	30	$	23
	Environmental cost recovery		1
	Gas supply clause		2		3
	Transmission service charge		6		8		6		8
	Fuel adjustment clause				4
	Transmission formula rate		32		20		32		20
	Universal service rider				10				10
	Storm damage expense		2		14		2		14
	Gas line tracker		7		6
	Other		2		2		2		1
Total current regulatory liabilities		$	82	$	90	$	72	$	76
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	694	$	688
	Coal contracts (a)		78		98
	Power purchase agreement - OVEC (a)		96		100
	Net deferred tax assets		28		30
	Act 129 compliance rider		12		15	$	12	$	15
	Defined benefit plans		28		26
	Interest rate swaps		84		86
	Other		6		5
Total noncurrent regulatory liabilities		$	1,026	$	1,048	$	12	$	15

Current Regulatory Liabilities:
		Environmental cost recovery	$	1							$	1
		Gas supply clause		2	$	3	$	2	$	3
		Fuel adjustment clause				4							$	4
		Gas line tracker		7		6		7		6
		Other				1								1
Total current regulatory liabilities			$	10	$	14	$	9	$	9	$	1	$	5
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	694	$	688	$	303	$	299	$	391	$	389
	Coal contracts (a)			78		98		34		43		44		55
	Power purchase agreement - OVEC (a)			96		100		66		69		30		31
	Net deferred tax assets			28		30		25		26		3		4
	Defined benefit plans			28		26						28		26
	Interest rate swaps			84		86		42		43		42		43
	Other			6		5		2		2		4		3
Total noncurrent regulatory liabilities			$	1,014	$	1,033	$	472	$	482	$	542	$	551

(a)These liabilities were recorded as offsets to certain intangible assets that were recorded at fair value upon the acquisition of LKE by PPL.