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Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2014

Derivative Instruments And Hedging Activities [Line Items]

Commodity Price Risk (Non-trading) - Economic Activity - Pre-tax Gains (Losses) Associated with Economic Activity

The unrealized gains (losses) for economic activity for the years ended December 31 were as follows.

		2014		2013		2012

Operating Revenues
	Unregulated wholesale energy	$	325	$	(721)	$	(311)
	Unregulated retail energy		29		12		(17)
Operating Expenses
	Fuel		(27)		(4)		(14)
	Energy purchases		(327)		586		442

Commodity Volumes - Volumes of Derivative (Sales) Purchase Contracts

At December 31, 2014, the net volumes of derivative (sales)/purchase contracts used in support of the various strategies discussed above were as follows.

		Volumes (a)
Commodity	Unit of Measure	2015	2016	2017	Thereafter

Power	MWh	(39,946,543)	(4,999,532)	741,005	3,426,579
Capacity	MW-Month	(6,604)	(249)	6	3
Gas	MMBtu	136,349,655	42,144,483	5,804,511	8,969,760
FTRs	MW-Month	2,803
Oil	Barrels	421,019	374,334	251,670	60,000

(a) Volumes for option contracts factor in the probability of an option being exercised and may be less than the notional amount of the option.

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and location of derivative instruments recorded on the Balance Sheets.

						December 31, 2014								December 31, 2013
						Derivatives designated as				Derivatives not designated				Derivatives designated as				Derivatives not designated
						hedging instruments				as hedging instruments				hedging instruments				as hedging instruments
						Assets		Liabilities		Assets		Liabilities		Assets		Liabilities		Assets		Liabilities
Current:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps (b)					$	94			$	5	$	82					$	4
			Cross-currency swaps (b)						3							$	4
			Foreign currency
				contracts		$	12			$	67						16				55
			Commodity contracts								1,079		1,024					$	860		750
					Total current		12		97		1,146		1,029		82		20		860		809
Noncurrent:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps (b)						14				43		9						32
			Cross-currency swaps (b)				29										28
			Foreign currency
				contracts			5				46		2				4				31
			Commodity contracts								239		193						328		320
					Total noncurrent		34		14		285		238		9		32		328		383
Total derivatives						$	46	$	111	$	1,431	$	1,267	$	91	$	52	$	1,188	$	1,192

(a) Represents the location on the Balance Sheets.

(b) Excludes accrued interest, if applicable.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets and regulatory liabilities.

	Derivatives in	Hedged Items in	Location of Gain
	Fair Value Hedging	Fair Value Hedging	(Loss) Recognized	Gain (Loss) Recognized	Gain (Loss) Recognized
	Relationships	Relationships	in Income	in Income on Derivative	in Income on Related Item

2012
	Interest rate swaps	Fixed rate debt	Interest Expense		$	3

									Gain (Loss) Recognized
									in Income on Derivative
				Derivative Gain		Location of Gain (Loss)	Gain (Loss) Reclassified		(Ineffective Portion and
			Derivative	(Loss) Recognized in		Recognized in Income	from AOCI into Income		Amount Excluded from
			Relationships	OCI (Effective Portion)		on Derivative	(Effective Portion)		Effectiveness Testing)
2014
	Cash Flow Hedges:
		Interest rate swaps		$	(91)	Interest Expense	$	(18)	$	2
		Cross-currency swaps			58	Other Income (Expense) - net		57
						Interest Expense		4
		Commodity contracts				Unregulated wholesale energy		1
						Energy purchases		31
						Depreciation		2
						Discontinued operations		8
	Total			$	(33)		$	85	$	2
	Net Investment Hedges:
		Foreign currency contracts		$	23

2013
	Cash Flow Hedges:
		Interest rate swaps		$	127	Interest Expense	$	(20)
		Cross-currency swaps			(41)	Other Income (Expense) - net		(28)
						Interest Expense		1
		Commodity contracts				Unregulated wholesale energy		240	$	1
						Energy purchases		(58)
						Depreciation		2
						Other		3
						Discontinued operations		23
	Total			$	86		$	163	$	1
	Net Investment Hedges:
		Foreign currency contracts		$	(14)

2012
	Cash Flow Hedges:
		Interest rate swaps		$	(28)	Interest Expense	$	(18)
						Other Income (Expense) - net		1
		Cross-currency swaps			(15)	Other Income (Expense) - net		(23)
						Interest Expense		(2)
		Commodity contracts			114	Unregulated wholesale energy		838	$	(1)
						Energy purchases		(136)		(2)
						Depreciation		2
						Discontinued operations		50
	Total			$	71		$	712	$	(3)
	Net Investment Hedges:
		Foreign currency contracts		$	(7)

Derivatives Not Designated as	Location of Gain (Loss) Recognized in
Hedging Instruments	Income on Derivative		2014		2013		2012

Foreign currency contracts	Other Income (Expense) - net	$	121	$	(38)	$	(52)
Interest rate swaps	Interest Expense		(8)		(8)		(8)
Commodity contracts	Unregulated wholesale energy		(1,353)		(99)		1,182
	Unregulated retail energy		30		25		30
	Fuel		(30)		2
	Energy purchases		1,013		130		(965)
	Discontinued operations		6		14		17
	Total	$	(221)	$	26	$	204

Derivatives Designated as	Location of Gain (Loss) Recognized as
Cash Flow Hedges	Regulatory Liabilities/Assets		2014		2013		2012

Interest rate swaps	Regulatory assets - noncurrent	$	(66)
	Regulatory liabilities - noncurrent			$	72	$	14

Derivatives Not Designated as	Location of Gain (Loss) Recognized as
Hedging Instruments	Regulatory Liabilities/Assets		2014		2013		2012

Interest rate swaps	Regulatory assets - noncurrent	$	(12)	$	22	$	1

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
December 31, 2014
PPL
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99
	Treasury Derivatives		159		65				94		161		65		21		75
Total		$	1,477	$	1,125	$	10	$	342	$	1,378	$	1,125	$	79	$	174

PPL Energy Supply
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99

LKE
	Treasury Derivatives	$	114	$	20	$	94

LG&E
	Treasury Derivatives	$	81	$	20	$	61

KU
	Treasury Derivatives	$	33			$	33

December 31, 2013
PPL
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157
	Treasury Derivatives		91		61				30		174		61		23		90
Total		$	1,279	$	973	$	7	$	299	$	1,244	$	973	$	24	$	247

PPL Energy Supply
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157

LKE
	Treasury Derivatives	$	36	$	20	$	16

LG&E
	Treasury Derivatives	$	36	$	20	$	16

Credit Risk-Related Contingent Features

At December 31, 2014, derivative contracts in a net liability position that contain credit risk-related contingent features, collateral posted on those positions and the related effect of a decrease in credit ratings below investment grade are summarized as follows:

					PPL
		PPL			Energy Supply			LKE		LG&E

Aggregate fair value of derivative instruments in a net liability
	position with credit risk-related contingent features	$	162		$	98		$	30	$	30
Aggregate fair value of collateral posted on these derivative instruments			127			106			21		21
Aggregate fair value of additional collateral requirements in the event of
	a credit downgrade below investment grade (a)		71	(b)		26	(b)		10		10

(a) Includes the effect of net receivables and payables already recorded on the Balance Sheet.

(b) During the second quarter of 2014, PPL Energy Supply experienced a downgrade in its corporate credit ratings to below investment grade. Amounts related to PPL Energy Supply represent net liability positions subject to further adequate assurance features.

PPL Energy Supply LLC [Member]

Derivative Instruments And Hedging Activities [Line Items]

Commodity Price Risk (Non-trading) - Economic Activity - Pre-tax Gains (Losses) Associated with Economic Activity

The unrealized gains (losses) for economic activity for the years ended December 31 were as follows.

		2014		2013		2012

Operating Revenues
	Unregulated wholesale energy	$	325	$	(721)	$	(311)
	Unregulated retail energy		29		12		(17)
Operating Expenses
	Fuel		(27)		(4)		(14)
	Energy purchases		(327)		586		442

Commodity Volumes - Volumes of Derivative (Sales) Purchase Contracts

At December 31, 2014, the net volumes of derivative (sales)/purchase contracts used in support of the various strategies discussed above were as follows.

		Volumes (a)
Commodity	Unit of Measure	2015	2016	2017	Thereafter

Power	MWh	(39,946,543)	(4,999,532)	741,005	3,426,579
Capacity	MW-Month	(6,604)	(249)	6	3
Gas	MMBtu	136,349,655	42,144,483	5,804,511	8,969,760
FTRs	MW-Month	2,803
Oil	Barrels	421,019	374,334	251,670	60,000

(a) Volumes for option contracts factor in the probability of an option being exercised and may be less than the notional amount of the option.

Fair Value and Balance Sheet Location of Derivative Instruments

The following tables present the fair value and location of derivative instruments recorded on the Balance Sheets.

					December 31, 2014				December 31, 2013
					Derivatives not designated				Derivatives not designated
					as hedging instruments				as hedging instruments
					Assets		Liabilities		Assets		Liabilities
Current:
	Price Risk Management
		Assets/Liabilities (a):
			Commodity contracts		$	1,079	$	1,024	$	860	$	750
				Total current		1,079		1,024		860		750
Noncurrent:
	Price Risk Management
		Assets/Liabilities (a):
			Commodity contracts			239		193		328		320
				Total noncurrent		239		193		328		320
Total derivatives					$	1,318	$	1,217	$	1,188	$	1,070

(a) Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following tables present the pre-tax effect of derivative instruments recognized in income or OCI.

									Gain (Loss) Recognized
									in Income on Derivative
				Derivative Gain		Location of Gain (Loss)	Gain (Loss) Reclassified		(Ineffective Portion and
			Derivative	(Loss) Recognized in		Recognized in Income	from AOCI into Income		Amount Excluded from
			Relationships	OCI (Effective Portion)		on Derivative	(Effective Portion)		Effectiveness Testing)
2014
	Cash Flow Hedges:
		Commodity contracts				Unregulated wholesale energy	$	1
						Energy purchases		31
						Depreciation		2
						Discontinued operations		8
	Total						$	42

2013
	Cash Flow Hedges:
		Commodity contracts				Unregulated wholesale energy	$	240	$	1
						Energy purchases		(58)
						Depreciation		2
						Discontinued operations		23
	Total						$	207	$	1

2012
	Cash Flow Hedges:
		Commodity contracts		$	114	Unregulated wholesale energy	$	838	$	(1)
						Energy purchases		(136)		(2)
						Depreciation		2
						Discontinued operations		50
	Total			$	114		$	754	$	(3)

Derivatives Not Designated as	Location of Gain (Loss) Recognized in
Hedging Instruments	Income on Derivative		2014		2013		2012

Commodity contracts	Unregulated wholesale energy	$	(1,353)	$	(99)	$	1,182
	Unregulated retail energy		30		25		30
	Fuel		(30)		2
	Energy purchases		1,013		130		(965)
	Discontinued operations		6		14		17
	Total	$	(334)	$	72	$	264

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
December 31, 2014
PPL
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99
	Treasury Derivatives		159		65				94		161		65		21		75
Total		$	1,477	$	1,125	$	10	$	342	$	1,378	$	1,125	$	79	$	174

PPL Energy Supply
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99

LKE
	Treasury Derivatives	$	114	$	20	$	94

LG&E
	Treasury Derivatives	$	81	$	20	$	61

KU
	Treasury Derivatives	$	33			$	33

December 31, 2013
PPL
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157
	Treasury Derivatives		91		61				30		174		61		23		90
Total		$	1,279	$	973	$	7	$	299	$	1,244	$	973	$	24	$	247

PPL Energy Supply
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157

LKE
	Treasury Derivatives	$	36	$	20	$	16

LG&E
	Treasury Derivatives	$	36	$	20	$	16

Credit Risk-Related Contingent Features

					PPL
		PPL			Energy Supply			LKE		LG&E

Aggregate fair value of derivative instruments in a net liability
	position with credit risk-related contingent features	$	162		$	98		$	30	$	30
Aggregate fair value of collateral posted on these derivative instruments			127			106			21		21
Aggregate fair value of additional collateral requirements in the event of
	a credit downgrade below investment grade (a)		71	(b)		26	(b)		10		10

(a) Includes the effect of net receivables and payables already recorded on the Balance Sheet.

LG And E And KU Energy LLC [Member]

Derivative Instruments And Hedging Activities [Line Items]

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and the location on the Balance Sheets of derivative instruments designated as cash flow hedges.

December 31, 2014

December 31, 2013

Assets

Liabilities

Assets

Liabilities

Current:

Price Risk Management

Assets/Liabilities (a):

Interest rate swaps

(a) Represents the location on the Balance Sheet.

The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.

					December 31, 2014			December 31, 2013
					Assets	Liabilities			Assets	Liabilities
Current:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps			$	5			$	4
				Total current			5				4
Noncurrent:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps				43				32
				Total noncurrent			43				32
Total derivatives						$	48			$	36

(a) Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following table presents the pre-tax effect of derivative instruments designated as cash flow hedges that are recognized in regulatory assets and liabilities.

Derivative Instruments	Location of Gain (Loss)	2014		2013		2012

Interest rate swaps	Regulatory assets - noncurrent	$	(66)
	Regulatory liabilities - noncurrent			$	72	$	14

The following tables present the pre-tax effect of derivatives not designated as cash flow hedges that are recognized in income or regulatory assets.

Derivative Instruments	Location of Gain (Loss)	2014		2013		2012

Interest rate swaps	Interest Expense	$	(8)	$	(8)	$	(8)

Derivative Instruments	Location of Gain (Loss)	2014		2013		2012

Interest rate swaps	Regulatory assets - noncurrent	$	(12)	$	22	$	1

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
December 31, 2014
PPL
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99
	Treasury Derivatives		159		65				94		161		65		21		75
Total		$	1,477	$	1,125	$	10	$	342	$	1,378	$	1,125	$	79	$	174

PPL Energy Supply
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99

LKE
	Treasury Derivatives	$	114	$	20	$	94

LG&E
	Treasury Derivatives	$	81	$	20	$	61

KU
	Treasury Derivatives	$	33			$	33

December 31, 2013
PPL
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157
	Treasury Derivatives		91		61				30		174		61		23		90
Total		$	1,279	$	973	$	7	$	299	$	1,244	$	973	$	24	$	247

PPL Energy Supply
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157

LKE
	Treasury Derivatives	$	36	$	20	$	16

LG&E
	Treasury Derivatives	$	36	$	20	$	16

Credit Risk-Related Contingent Features

					PPL
		PPL			Energy Supply			LKE		LG&E

Aggregate fair value of derivative instruments in a net liability
	position with credit risk-related contingent features	$	162		$	98		$	30	$	30
Aggregate fair value of collateral posted on these derivative instruments			127			106			21		21
Aggregate fair value of additional collateral requirements in the event of
	a credit downgrade below investment grade (a)		71	(b)		26	(b)		10		10

(a) Includes the effect of net receivables and payables already recorded on the Balance Sheet.

Louisville Gas And Electric Co [Member]

Derivative Instruments And Hedging Activities [Line Items]

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and the location on the Balance Sheets of derivative instruments designated as cash flow hedges.

December 31, 2014

December 31, 2013

Assets

Liabilities

Assets

Liabilities

Current:

Price Risk Management

Assets/Liabilities (a):

Interest rate swaps

(a) Represents the location on the balance sheet.

The following table presents the fair value and the location on the Balance Sheets of derivatives not designated as hedging instruments.

					December 31, 2014			December 31, 2013
					Assets	Liabilities			Assets	Liabilities
Current:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps			$	5			$	4
				Total current			5				4
Noncurrent:
	Price Risk Management
		Assets/Liabilities (a):
			Interest rate swaps				43				32
				Total noncurrent			43				32
Total derivatives						$	48			$	36

(a) Represents the location on the Balance Sheets.

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

The following table presents the pre-tax effect of derivative instruments designated as cash flow hedges that are recognized in regulatory assets and liabilities.

Derivative Instruments	Location of Gain (Loss)	2014		2013		2012

Interest rate swaps	Regulatory asset - noncurrent	$	(33)
	Regulatory liabilities - noncurrent			$	36	$	7

The following tables present the pre-tax effect of derivatives not designated as cash flow hedges that are recognized in income or regulatory assets.

Derivative Instruments	Location of Gain (Loss)	2014		2013		2012

Interest rate swaps	Interest Expense	$	(8)	$	(8)	$	(8)

Derivative Instruments	Location of Gain (Loss)	2014		2013		2012

Interest rate swaps	Regulatory assets - noncurrent	$	(12)	$	22	$	1

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
December 31, 2014
PPL
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99
	Treasury Derivatives		159		65				94		161		65		21		75
Total		$	1,477	$	1,125	$	10	$	342	$	1,378	$	1,125	$	79	$	174

PPL Energy Supply
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99

LKE
	Treasury Derivatives	$	114	$	20	$	94

LG&E
	Treasury Derivatives	$	81	$	20	$	61

KU
	Treasury Derivatives	$	33			$	33

December 31, 2013
PPL
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157
	Treasury Derivatives		91		61				30		174		61		23		90
Total		$	1,279	$	973	$	7	$	299	$	1,244	$	973	$	24	$	247

PPL Energy Supply
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157

LKE
	Treasury Derivatives	$	36	$	20	$	16

LG&E
	Treasury Derivatives	$	36	$	20	$	16

Credit Risk-Related Contingent Features

					PPL
		PPL			Energy Supply			LKE		LG&E

Aggregate fair value of derivative instruments in a net liability
	position with credit risk-related contingent features	$	162		$	98		$	30	$	30
Aggregate fair value of collateral posted on these derivative instruments			127			106			21		21
Aggregate fair value of additional collateral requirements in the event of
	a credit downgrade below investment grade (a)		71	(b)		26	(b)		10		10

(a) Includes the effect of net receivables and payables already recorded on the Balance Sheet.

Kentucky Utilities Co [Member]

Derivative Instruments And Hedging Activities [Line Items]

Fair Value and Balance Sheet Location of Derivative Instruments

The following table presents the fair value and the location on the Balance Sheets of derivative instruments designated as cash flow hedges.

December 31, 2014

December 31, 2013

Assets

Liabilities

Assets

Liabilities

Current:

Price Risk Management

Assets/Liabilities (a):

Interest rate swaps

(a) Represents the location on the Balance Sheets

Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or on the Balance Sheet

Derivative Instruments	Location of Gain (Loss)	2014		2013		2012

Interest rate swaps	Regulatory assets - noncurrent	$	(33)
	Regulatory liabilities - noncurrent			$	36	$	7

Derivative Positions Eligible for Offset with Related Cash Collateral

The table below summarizes the derivative positions presented in the balance sheets where a right of setoff exists under these arrangements and related cash collateral received or pledged.

		Assets								Liabilities
				Eligible for Offset								Eligible for Offset
						Cash								Cash
				Derivative		Collateral						Derivative		Collateral
		Gross		Instruments		Received		Net		Gross		Instruments		Pledged		Net
December 31, 2014
PPL
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99
	Treasury Derivatives		159		65				94		161		65		21		75
Total		$	1,477	$	1,125	$	10	$	342	$	1,378	$	1,125	$	79	$	174

PPL Energy Supply
	Energy Commodities	$	1,318	$	1,060	$	10	$	248	$	1,217	$	1,060	$	58	$	99

LKE
	Treasury Derivatives	$	114	$	20	$	94

LG&E
	Treasury Derivatives	$	81	$	20	$	61

KU
	Treasury Derivatives	$	33			$	33

December 31, 2013
PPL
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157
	Treasury Derivatives		91		61				30		174		61		23		90
Total		$	1,279	$	973	$	7	$	299	$	1,244	$	973	$	24	$	247

PPL Energy Supply
	Energy Commodities	$	1,188	$	912	$	7	$	269	$	1,070	$	912	$	1	$	157

LKE
	Treasury Derivatives	$	36	$	20	$	16

LG&E
	Treasury Derivatives	$	36	$	20	$	16