Financing Activities (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Line Items]

Credit Facilities in Place at Period End

The following credit facilities were in place at:

				December 31, 2014										December 31, 2013
										Letters of						Letters of
										Credit						Credit
										and						and
										Commercial						Commercial
				Expiration						Paper		Unused				Paper
				Date		Capacity		Borrowed		Issued		Capacity		Borrowed		Issued
PPL
U.K.
	WPD Ltd.
		Syndicated Credit Facility (a) (c)			Dec. 2016	£	210	£	103			£	107	£	103
	WPD (South West)
		Syndicated Credit Facility (a) (c)			July 2019		245						245
	WPD (East Midlands)
		Syndicated Credit Facility (a) (c)			July 2019		300		64				236
	WPD (West Midlands)
		Syndicated Credit Facility (a) (c)			July 2019		300						300
	Uncommitted Credit Facilities						105			£	5		100			£	5
			Total U.K. Credit Facilities (b)			£	1,160	£	167	£	5	£	988	£	103	£	5
U.S.
	PPL Capital Funding
		Syndicated Credit Facility (c) (d) (f)			Nov. 2018	$	300					$	300	$	270
		Syndicated Credit Facility (c) (d)			July 2019		300						300
		Bilateral Credit Facility (c) (d)			Mar. 2015		150			$	21		129
		Uncommitted Credit Facility					65				1		64
			Total PPL Capital Funding Credit Facilities			$	815			$	22	$	793	$	270
PPL Energy Supply
	Syndicated Credit Facility (c) (d) (f)				Nov. 2017	$	3,000	$	630	$	121	$	2,249			$	29
	Letter of Credit Facility (d)				Mar. 2015		150				138		12				138
	Uncommitted Credit Facilities (d)						100				22		78				77
			Total PPL Energy Supply Credit Facilities			$	3,250	$	630	$	281	$	2,339			$	244
PPL Electric
	Syndicated Credit Facility (c) (d)				July 2019	$	300			$	1	$	299			$	21
LKE
	Syndicated Credit Facility (c) (d) (f)				Oct. 2018	$	75	$	75					$	75
LG&E
	Syndicated Credit Facility (c) (d)				July 2019	$	500			$	264	$	236			$	20
KU
	Syndicated Credit Facility (c) (d)				July 2019	$	400			$	236	$	164			$	150
	Letter of Credit Facility (c) (d) (e)				Oct. 2017		198				198						198
			Total KU Credit Facilities			$	598			$	434	$	164			$	348

(a)The facilities contain financial covenants to maintain an interest coverage ratio of not less than 3.0 times consolidated earnings before income taxes, depreciation and amortization and total net debt not in excess of 85% of its RAV, calculated in accordance with the credit facility.

(b)WPD Ltd.'s amounts borrowed at December 31, 2014 and 2013 were USD-denominated borrowings of $161 million and $166 million, which bore interest at 1.86% and 1.87%. WPD (East Midlands) amount borrowed at December 31, 2014 was a GBP-denominated borrowing which equated to $100 million and bore interest at 1.00%. At December 31, 2014, the unused capacity under the U.K. credit facilities was approximately $1.5 billion.

(c)Each company pays customary fees under its respective facility and borrowings generally bear interest at LIBOR-based rates plus an applicable margin.

(d)The facilities contain a financial covenant requiring debt to total capitalization not to exceed 65% for PPL Energy Supply and 70% for PPL Capital Funding, PPL Electric, LKE, LG&E and KU, as calculated in accordance with the facilities and other customary covenants. Additionally, as it relates to the syndicated and bilateral credit facilities and subject to certain conditions, PPL Capital Funding may request that the capacity of its facility expiring in July 2019 be increased by up to $100 million and the facilities expiring in November 2018 and March 2015 may be increased by up to $30 million, PPL Energy Supply may request that its facility's capacity be increased by up to $500 million, PPL Electric and KU each may request up to a $100 million increase in its facility's capacity and LKE may request up to a $25 million increase in its facility's capacity.

(e)KU's letter of credit facility agreement allows for certain payments under the letter of credit facility to be converted to loans rather than requiring immediate payment.

(f)At December 31, 2014, PPL Energy Supply’s andLKE's interest rates on outstanding borrowings were 2.05% and 1.67%, respectively. At December 31, 2013, PPL Capital Funding's and LKE’s interest rates on outstanding borrowings were 1.79% and 1.67%, respectively.

Long-term Debt

Long-term Debt (All Registrants)

			Weighted-Average		December 31,
			Rate	Maturities	2014		2013
PPL
U.S.
	Senior Unsecured Notes (a)		4.28%	2015 - 2044	$	6,018	$	5,568
	Senior Secured Notes/First Mortgage Bonds (b) (c) (d)		3.83%	2015 - 2044		6,119		5,823
	Junior Subordinated Notes		6.31%	2067 - 2073		930		1,908
	Other							15
		Total U.S. Long-term Debt				13,067		13,314
U.K.
	Senior Unsecured Notes (e)		5.53%	2016 - 2040		6,627		6,872
	Index-linked Senior Unsecured Notes (f)		1.83%	2043 - 2056		732		749
		Total U.K. Long-term Debt (g)				7,359		7,621
		Total Long-term Debt Before Adjustments				20,426		20,935
	Fair market value adjustments					18		23
	Unamortized premium and (discount), net					(53)		(51)
		Total Long-term Debt				20,391		20,907
	Less current portion of Long-term Debt (a)					1,535		315
		Total Long-term Debt, noncurrent			$	18,856	$	20,592
PPL Energy Supply
	Senior Unsecured Notes (a)		5.31%	2015 - 2036	$	2,193	$	2,493
	Senior Secured Notes		8.86%	2025		45		49
	Other							5
		Total Long-term Debt Before Adjustments				2,238		2,547
	Fair market value adjustments					(19)		(22)
	Unamortized premium and (discount), net					(1)
		Total Long-term Debt				2,218		2,525
	Less current portion of Long-term Debt (a)					535		304
		Total Long-term Debt, noncurrent			$	1,683	$	2,221
PPL Electric
	Senior Secured Notes/First Mortgage Bonds (b) (c)		4.57%	2015 - 2044	$	2,614	$	2,314
	Other							10
		Total Long-term Debt Before Adjustments				2,614		2,324
	Unamortized discount					(12)		(9)
		Total Long-term Debt				2,602		2,315
	Less current portion of Long-term Debt					100		10
		Total Long-term Debt, noncurrent			$	2,502	$	2,305
LKE
	Senior Unsecured Notes		3.31%	2015 - 2021	$	1,125	$	1,125
	First Mortgage Bonds (b) (d)		3.21%	2015 - 2043		3,460		3,460
		Total Long-term Debt Before Adjustments				4,585		4,585
	Fair market value adjustments					(1)		(1)
	Unamortized discount					(17)		(19)
		Total Long-term Debt				4,567		4,565
	Less current portion of Long-term Debt					900
		Total Long-term Debt, noncurrent			$	3,667	$	4,565
LG&E
	First Mortgage Bonds (b) (d)		2.85%	2015 - 2043	$	1,359	$	1,359
		Total Long-term Debt Before Adjustments				1,359		1,359
	Fair market value adjustments					(1)		(1)
	Unamortized discount					(5)		(5)
		Total Long-term Debt				1,353		1,353
	Less current portion of Long-term Debt					250
		Total Long-term Debt, noncurrent			$	1,103	$	1,353
KU
	First Mortgage Bonds (b) (d)		3.44%	2015 - 2043	$	2,101	$	2,101
		Total Long-term Debt Before Adjustments				2,101		2,101
	Fair market value adjustments							1
	Unamortized discount					(10)		(11)
		Total Long-term Debt				2,091		2,091
	Less current portion of Long-term Debt					250
		Total Long-term Debt, noncurrent			$	1,841	$	2,091

(a)Includes $300million of 5.70%REset Put Securities due 2035 (REPS). The REPS bear interest at a rate of 5.70% per annum to, but excluding, October 15, 2015 (Remarketing Date). The REPS are required to be put by existing holders on the Remarketing Date either for (a) purchase and remarketing by a designated remarketing dealer or (b) repurchase by PPL Energy Supply. If the remarketing dealer elects to purchase the REPS for remarketing, it will purchase the REPS at 100% of the principal amount, and the REPS will bear interest on and after the Remarketing Date at a new fixed rate per annum determined in the remarketing. PPL Energy Supply has the right to terminate the remarketing process. If the remarketing is terminated at the option of PPL Energy Supply or under certain other circumstances, including the occurrence of an event of default by PPLEnergy Supply under the related indenture or a failed remarketing for certain specified reasons, PPL Energy Supply will be required to pay the remarketing dealer a settlement amount as calculated in accordance with the related remarketing agreement.

(b)IncludesPPL Electric's senior secured and first mortgage bonds that are secured by the lien of PPL Electric's 2001 Mortgage Indenture, which covers substantially all electric distribution plant and certain transmission plant owned by PPL Electric. The carrying value of PPL Electric's property, plant and equipment was approximately $5.8 billion and $5.1 billion at December 31, 2014 and 2013.

Includes LG&E's first mortgage bonds that are secured by the lien of the LG&E 2010 Mortgage Indenture which creates a lien, subject to certain exceptions and exclusions, on substantially all of LG&E's real and tangible personal property located in Kentucky and used or to be used in connection with the generation, transmission and distribution of electricity and the storage and distribution of natural gas. The aggregate carrying value of the property subject to the lien was $3.7 billion and $3.2 billion at December 31, 2014 and 2013.

Includes KU's first mortgage bonds that are secured by the lien of the KU 2010 Mortgage Indenture which creates a lien, subject to certain exceptions and exclusions, on substantially all of KU's real and tangible personal property located in Kentucky and used or to be used in connection with the generation, transmission and distribution of electricity. The aggregate carrying value of the property subject to the lien was $5.5 billion and $5.1 billion at December 31, 2014 and 2013.

(c)Includes PPL Electric'sseries of senior secured bonds that secure its obligations to make payments with respect to each series of Pollution Control Bonds that were issued by the LCIDA and the PEDFA on behalf of PPL Electric. These senior secured bonds were issued in the same principal amount, contain payment and redemption provisions that correspond to and bear the same interest rate as such Pollution Control Bonds. These senior secured bonds were issued under PPL Electric's 2001 Mortgage Indenture and are secured as noted in (b) above. This amount includes $224 million that may be redeemed at par beginning in 2015 and $90 million that may be redeemed, in whole or in part, at par beginning in October 2020 and are subject to mandatory redemption upon determination that the interest rate on the bonds would be included in the holders' gross income for federal tax purposes.

(d)Includes LG&E's and KU's series of first mortgage bonds that were issued to the respective trustees of tax-exempt revenue bonds to secure its respective obligations to make payments with respect to each series of bonds. The first mortgage bonds were issued in the same principal amounts, contain payment and redemption provisions that correspond to and bear the same interest rate as such tax-exempt revenue bonds. These first mortgage bonds were issued under the LG&E 2010 Mortgage Indenture and the KU 2010 Mortgage Indenture and are secured as noted in (b) above. The related tax-exempt revenue bonds were issued by various governmental entities, principally counties in Kentucky, on behalf of LG&E and KU. The related revenue bond documents allow LG&E and KU to convert the interest rate mode on the bonds from time to time to a commercial paper rate, daily rate, weekly rate, term rate of at least one year or, in some cases, an auction rate or a LIBOR index rate.

At December 31, 2014, the aggregate tax-exempt revenue bonds issued on behalf of LG&E and KU that were in a term rate mode totaled $418 million for LKE, comprised of $391 million and $27 million for LG&E and KU, respectively. At December 31, 2014, the aggregate tax-exempt revenue bonds issued on behalf of LG&E and KU that were in a variable rate mode totaled $507 million for LKE, comprised of $183 million and $324 million for LG&E and KU, respectively.

Several series of the tax-exempt revenue bonds are insured by monoline bond insurers whose ratings were reduced due to exposures relating to insurance of sub-prime mortgages. Of the bonds outstanding, $231 million are in the form of insured auction rate securities ($135 million for LG&E and $96 million for KU), wherein interest rates are reset either weekly or every 35 days via an auction process. Beginning in late 2007, the interest rates on these insured bonds began to increase due to investor concerns about the creditworthiness of the bond insurers. During 2008, interest rates increased, and LG&E and KU experienced failed auctions when there were insufficient bids for the bonds. When a failed auction occurs, the interest rate is set pursuant to a formula stipulated in the indenture. As noted above, the instruments governing these auction rate bonds permit LG&E and KU to convert the bonds to other interest rate modes.

Certain variable rate tax-exempt revenue bonds totaling $251 million at December 31, 2014 ($23 million for LG&E and $228 million for KU), are subject to tender for purchase by LG&E and KU at the option of the holder and to mandatory tender for purchase by LG&E and KU upon the occurrence of certain events.

(e)Includes £225 million ($352 million at December 31, 2014) of notes that may be redeemed, in total but not in part, on December 21, 2026, at the greater of the principal value or a value determined by reference to the gross redemption yield on a nominated U.K. Government bond.

(f)The principal amount of the notes issued by WPD (South West) and WPD (East Midlands) is adjusted based on changes in a specified index, as detailed in the terms of the related indentures. The adjustment to the principal amounts from 2013 to 2014 was an increase of approximately £10million ($16million) resulting from inflation. In addition, this amount includes £225 million ($352 million at December 31, 2014)of notes issued by WPD (South West)that may be redeemed, in total by series, on December 1, 2026, at the greater of the adjusted principal value and a make-whole value determined by reference to the gross real yield on a nominated U.K. government bond.

(g)Includes £3.8 billion ($5.9 billion at December 31, 2014) of notes that may be put by the holders to the issuer for redemption if the long-term credit ratings assigned to the notes are withdrawn by any of the rating agencies (Moody's, S&P or Fitch) or reduced to a non-investment grade rating of Ba1 or BB+ in connection with a restructuring event which includes the loss of, or a material adverse change to, the distribution licenses under which the issuer operates.

Long-term Debt Maturities

The aggregate maturities of long-term debt, based on stated maturities or earlier put dates, for the periods2015 through 2019 and thereafter are as follows:

			PPL
			Energy		PPL
	PPL		Supply		Electric		LKE		LG&E		KU
2015	$	1,535	$	535	$	100	$	900	$	250	$	250
2016		839		354				25		25
2017		298		4				194		194
2018		750		403				98		98
2019		44		4				40		40
Thereafter		16,960		938		2,514		3,328		752		1,851
Total	$	20,426	$	2,238	$	2,614	$	4,585	$	1,359	$	2,101

PPL Electric Utilities Corp [Member]

Debt Disclosure [Line Items]

Commercial paper

The following commercial paper programs were in place at:

		December 31, 2014								December 31, 2013
		Weighted -				Commercial				Weighted -		Commercial
		Average				Paper		Unused		Average		Paper
		Interest Rate		Capacity		Issuances		Capacity		Interest Rate		Issuances
PPL Electric				$	300			$	300		0.23%	$	20
LG&E			0.42%		350	$	264		86		0.29%		20
KU			0.49%		350		236		114		0.32%		150
	Total			$	1,000	$	500	$	500			$	190

Louisville Gas And Electric Co [Member]

Debt Disclosure [Line Items]

Commercial paper

The following commercial paper programs were in place at:

		December 31, 2014								December 31, 2013
		Weighted -				Commercial				Weighted -		Commercial
		Average				Paper		Unused		Average		Paper
		Interest Rate		Capacity		Issuances		Capacity		Interest Rate		Issuances
PPL Electric				$	300			$	300		0.23%	$	20
LG&E			0.42%		350	$	264		86		0.29%		20
KU			0.49%		350		236		114		0.32%		150
	Total			$	1,000	$	500	$	500			$	190

Kentucky Utilities Co [Member]

Debt Disclosure [Line Items]

Commercial paper

The following commercial paper programs were in place at:

		December 31, 2014								December 31, 2013
		Weighted -				Commercial				Weighted -		Commercial
		Average				Paper		Unused		Average		Paper
		Interest Rate		Capacity		Issuances		Capacity		Interest Rate		Issuances
PPL Electric				$	300			$	300		0.23%	$	20
LG&E			0.42%		350	$	264		86		0.29%		20
KU			0.49%		350		236		114		0.32%		150
	Total			$	1,000	$	500	$	500			$	190