Utility Rate Regulation (Tables)

3 Months Ended

Mar. 31, 2015

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
		March 31,		December 31,		March 31,		December 31,
		2015		2014		2015		2014
Current Regulatory Assets:
	Environmental cost recovery	$	10	$	5
	Gas supply clause		1		15
	Fuel adjustment clause		4		4
	Transmission service charge				6			$	6
	Other		8		7	$	3		6
Total current regulatory assets		$	23	$	37	$	3	$	12
Noncurrent Regulatory Assets:
	Defined benefit plans	$	705	$	720	$	367	$	372
	Taxes recoverable through future rates		317		316		317		316
	Storm costs		116		124		42		46
	Unamortized loss on debt		76		77		48		49
	Interest rate swaps		182		122
	Accumulated cost of removal of utility plant		117		114		117		114
	AROs		87		79
	Other		10		10
Total noncurrent regulatory assets		$	1,610	$	1,562	$	891	$	897

		LKE				LG&E				KU
		March 31,		December 31,		March 31,		December 31,		March 31,		December 31,
		2015		2014		2015		2014		2015		2014
Current Regulatory Assets:
	Environmental cost recovery	$	10	$	5	$	7	$	4	$	3	$	1
	Gas supply clause		1		15		1		15
	Fuel adjustment clause		4		4		4		2				2
	Other		5		1						5		1
Total current regulatory assets		$	20	$	25	$	12	$	21	$	8	$	4
Noncurrent Regulatory Assets:
	Defined benefit plans	$	338	$	348	$	208	$	215	$	130	$	133
	Storm costs		74		78		41		43		33		35
	Unamortized loss on debt		28		28		18		18		10		10
	Interest rate swaps		182		122		121		89		61		33
	AROs		87		79		30		28		57		51
	Other		10		10		4		4		6		6
Total noncurrent regulatory assets		$	719	$	665	$	422	$	397	$	297	$	268

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	$	26	$	28	$	26	$	28
	Demand side management		13		2
	Gas supply clause		6		6
	Transmission formula rate		49		42		49		42
	Storm damage expense		7		3		7		3
	Gas line tracker		2		3
	Other		6		7		3		3
Total current regulatory liabilities		$	109	$	91	$	85	$	76
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	695	$	693
	Coal contracts (a)		49		59
	Power purchase agreement - OVEC (a)		90		92
	Net deferred tax assets		25		26
	Act 129 compliance rider		26		18	$	26	$	18
	Defined benefit plans		16		16
	Interest rate swaps		84		84
	Other		2		4
Total noncurrent regulatory liabilities		$	987	$	992	$	26	$	18

Current Regulatory Liabilities:
		Demand side management	$	13	$	2	$	5	$	1	$	8	$	1
		Gas supply clause		6		6		6		6
		Gas line tracker		2		3		2		3
		Other		3		4		1				2		4
Total current regulatory liabilities			$	24	$	15	$	14	$	10	$	10	$	5
Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	695	$	693	$	304	$	302	$	391	$	391
	Coal contracts (a)			49		59		21		25		28		34
	Power purchase agreement - OVEC (a)			90		92		62		63		28		29
	Net deferred tax assets			25		26		24		24		1		2
	Defined benefit plans			16		16						16		16
	Interest rate swaps			84		84		42		42		42		42
	Other			2		4		1		2		1		2
Total noncurrent regulatory liabilities			$	961	$	974	$	454	$	458	$	507	$	516

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