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Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2011
Notes To Financial Statements [Abstract]  
Commodity Price Risk (Non-trading) - Economic Activity - Pre-tax Gains (Losses) Associated with Economic Activity

The unrealized gains (losses) for economic activity for the periods ended June 30 are as follows.

   Three Months Six Months
   2011 2010 2011 2010
              
Operating Revenues            
 Unregulated retail electric and gas $ 1 $ (2) $ 5 $ 8
 Wholesale energy marketing    (44)   (666)   13   (242)
Operating Expenses            
 Fuel   (11)   (8)   12   (3)
 Energy purchases (a)   109   445   127   (118)

(a)       During the second quarter of 2010, PPL Energy Supply corrected an error relating to the fair value of a capacity contract (classified as economic activity) due to the use of an incorrect forward capacity curve. PPL Energy Supply's energy purchases were understated for the year ended December 31, 2009 and the first quarter of 2010 by an unrealized amount of $35 million ($20 million after tax or $0.05 per share, basic and diluted, for PPL) and $5 million ($3 million after tax or $0.01 per share, basic and diluted, for PPL). Management concluded that the impacts were not material to first quarter 2010 financial statements of PPL and PPL Energy Supply, and were not material to the financial statements for the full year 2010.

Commodity Volumetric Activity - Sales of Baseload Generation - Expected Sales, in GWh, of Baseload Generation

The following table presents the expected sales, in GWh, from baseload generation and tolling arrangements that are included in the baseload portfolio based on current forecasted assumptions for 2011-2013. These expected sales could be impacted by several factors, including plant availability.

2011 (a) 2012 2013
     
27,118  54,675  54,364

(a)       Represents expected sales for the balance of the current year.

 
Commodity Volumetric Activity - Sales of Baseload Generation - Percentage of Expected Baseload Generation Sales

The following table presents the percentage of expected baseload generation sales shown above that has been sold forward under fixed price contracts and the related percentage of fuel that has been purchased or committed at June 30, 2011.

   Derivative Total Power Fuel Purchases (d)
Year Sales (a) (b) Sales (c) Coal Nuclear
          
2011 (e) 91% 98% 100% 100%
2012 89% 97% 96% 100%
2013 61% 69% 88% 100%

(a)       Excludes non-derivative contracts and contracts that qualify for NPNS. Volumes for option contracts factor in the probability of an option being exercised and may be less than the notional amount of the option.

(b)       Volumes for derivative sales contracts that deliver between 2014 and 2016 total 2,964 GWh and 8.4 Bcf.

(c)       Amount represents derivative and non-derivative contracts. Volumes for option contracts factor in the probability of an option being exercised and may be less than the notional amount of the option. Percentages are based on fixed-price contracts only.

(d)       Coal and nuclear contracts receive accrual accounting treatment, as they are not derivative contracts. Percentages are based on both fixed- and variable-priced contracts.

(e)       Represents the balance of the current year.

 
Commodity Volumetric Activity - Sales of Baseload Generation - Economic Hedges Related to Fuel Price Risk

The following table presents the volumes (in thousands of barrels) of derivative contracts used in support of this strategy at June 30, 2011.

  2011 (a) 2012 2013
        
 Oil Swaps (b)  48  756  420

(a)       Represents the balance of the current year.

(b)       Volumes (in thousands of barrels) for derivative contracts used in support of this strategy that deliver in 2014 total 120.

 
Commodity Volumetric Activity - Optimization of Intermediate and Peaking Generation

The following table presents the volumes of derivative contracts used in support of this strategy at June 30, 2011.

   Units 2011 (a) 2012 2013
          
Net Power Sales (b) (c) GWh  (2,210)  (2,006)  (1,224)
Net Fuel Purchases (b) (c) Bcf  20.7  13.5  8.2

(a)       Represents the balance of the current year.

(b)       Included in these volumes are non-options and exercised option contracts that converted to non-option derivative contracts. Volumes associated with option contracts are not significant.

(c)       Volumes for derivative contracts used in support of this strategy that deliver in 2014 total 408 GWh and 2.7 Bcf.

Commodity Volumetric Activity - Marketing Activities

The following table presents the volume of (sales)/purchase contracts, excluding FTRs, basis and capacity contracts, used in support of these activities at June 30, 2011.

   Units 2011 (a) 2012 2013
          
Energy sales contracts (b) (c) GWh  (6,876)  (9,918)  (3,510)
Related energy supply contracts (b) (c)         
 Energy purchases GWh  5,019  6,021  522
 Volumetric hedges (d) GWh  337  320  
 Generation supply GWh  1,662  3,621  2,883
Retail gas sales contracts (c) Bcf  (3.3)  (7.0)  (0.4)
Retail gas purchase contracts (c) Bcf  3.3  7.0  0.4

(a)       Represents the balance of the current year.

(b)       Includes NPNS and contracts that are not derivatives, which receive accrual accounting.

(c)       Net volumes for derivative contracts, excluding contracts that qualify for NPNS that deliver between 2014 and 2015 are not significant.

(d)       PPL Energy Supply uses power and gas options, swaps and futures to hedge the volumetric risk associated with full-requirement sales contracts since the demand for power varies hourly. Volumes for option contracts factor in the probability of an option being exercised and may be less than the notional amount of the option.

Commodity Volumetric Activity - FTRs and Other Basis Positions

The volume of derivative FTR and basis (sales)/purchase contracts at June 30, 2011 were:

  Units 2011 (a) 2012 2013
          
FTRs GWh  19,169  15,297  
Power Basis Positions (b) GWh  (8,478)  (8,435)  (624)
Gas Basis Positions (c) Bcf  17.3  10.6  (0.7)

(a)       Represents the balance of the current year.

(b)       Net volumes that deliver in 2015 are 205 GWh.

(c)       Net volumes that deliver in 2014 and 2015 are (1.1) Bcf.

 
Commodity Volumetric Activity - Capacity Positions

The following table presents the volumes of derivative capacity (sales)/purchase contracts at June 30, 2011.

  Units 2011 (a) 2012 2013
          
Capacity (b) MW-months  (2,475)  (3,542)  (1,005)

(a)       Represents the balance of the current year.

(b)       Net volumes that deliver between 2014 and 2016 are (253) MW-months.

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.

       June 30, 2011 December 31, 2010
       Derivatives designated as  Derivatives not designated Derivatives designated as  Derivatives not designated
       hedging instruments  as hedging instruments (a) hedging instruments  as hedging instruments (a)
       Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities
Current:                        
 Price Risk Management                         
  Assets/Liabilities (b):                        
   Interest rate swaps $ 5 $ 16    $ 3 $ 11 $ 19    $ 2
   Cross-currency swaps       3         7   9      
   Foreign currency                        
    exchange contracts       $ 4      7    $ 4   
   Commodity contracts   699   3   759   792   878   19   1,011   1,095
     Total current   704   22   763   795   903   47   1,015   1,097
Noncurrent:                        
 Price Risk Management                         
  Assets/Liabilities (b):                        
   Interest rate swaps   1         32   4         32
   Cross-currency swaps    9   2         37         
   Commodity contracts   173   17   482   392   169   7   445   431
     Total noncurrent   183   19   482   424   210   7   445   463
Total derivatives $ 887 $ 41 $ 1,245 $ 1,219 $ 1,113 $ 54 $ 1,460 $ 1,560

(a)       $279 million and $326 million of net gains associated with derivatives that were no longer designated as hedging instruments are recorded in AOCI at June 30, 2011 and December 31, 2010.

(b)       Represents the location on the Balance Sheet.

 
Pre-tax Gain (Loss) on Derivative Instruments Recognized in Income or OCI

The following tables present the pre-tax effect of derivative instruments recognized in income, OCI or regulatory assets for the periods ended June 30, 2011.

Derivatives in Hedged Items in  Location of Gain Gain (Loss) Recognized Gain (Loss) Recognized
Fair Value Hedging Fair Value Hedging  (Loss) Recognized in Income on Derivative  in Income on Related Item
Relationships Relationships  in Income Three Months Six Months Three Months Six Months
                  
Interest rate swaps Fixed rate debt Interest expense $ 1 $ 2 $ 8 $ 18

              Three Months Six Months
                 Gain (Loss)    Gain (Loss)
                 Recognized    Recognized
                 in Income    in Income
              on Derivative Gain (Loss) on Derivative
           Gain (Loss) (Ineffective Reclassified (Ineffective
           Reclassified Portion and from AOCI Portion and
     Derivative Gain Location of from AOCI Amount into Amount
     (Loss) Recognized in Gain (Loss) into Income Excluded from Income Excluded from
Derivative   OCI (Effective Portion) Recognized  (Effective Effectiveness (Effective Effectiveness
Relationships Three Months Six Months in Income Portion) Testing) Portion) Testing)
Cash Flow Hedges:                    
 Interest rate swaps $ (9) $ 1 Interest expense $ (3) $ (12) $ (6) $ (13)
 Cross-currency swaps   (8)   (33) Interest expense         3   
           Other income            
            (expense) - net   30      17   
 Commodity contracts   (34)   50 Wholesale energy             
            marketing   164   (14)   367   (22)
           Energy purchases   (47)      (117)   1
Total $ (51) $ 18    $ 144 $ (26) $ 264 $ (34)
                         
Net Investment Hedges:                     
  Foreign exchange contracts    $ (1)               

Derivatives Not Designated as Location of Gain (Loss) Recognized in      
Hedging Instruments:  Income on Derivatives Three Months Six Months
         
Foreign exchange contracts Other income (expense) - net $ 64 $ 55
Interest rate swaps Interest expense   (2)   (4)
Commodity contracts Utility   (3)   (2)
  Unregulated retail electric and gas   4   5
  Wholesale energy marketing   (71)   (26)
  Net energy trading margins (a)   4   11
  Fuel   (8)   15
  Energy purchases   91   36
  Total $ 79 $ 90
         
Derivatives Not Designated as Location of Gain (Loss) Recognized as      
Hedging Instruments: Regulatory Liabilities/Assets Three Months Six Months
         
Interest rate swaps Regulatory assets $ (3) $ (1)

(a)       Differs from the Statement of Income due to intra-month transactions that PPL defines as spot activity, which is not accounted for as a derivative.

The following tables present the pre-tax effect of derivative instruments recognized in income or OCI for the periods ended June 30, 2010.

Derivatives in Hedged Items in  Location of Gain Gain (Loss) Recognized Gain (Loss) Recognized
Fair Value Hedging Fair Value Hedging  (Loss) Recognized in Income on Derivative  in Income on Related Item
Relationships Relationships  in Income Three Months Six Months Three Months Six Months
                  
Interest rate swaps Fixed rate debt Interest expense $ 16 $ 34 $ (6) $ (13)

              Three Months Six Months
                 Gain (Loss)    Gain (Loss)
                 Recognized    Recognized
                 in Income    in Income
              on Derivative Gain (Loss) on Derivative
           Gain (Loss) (Ineffective Reclassified (Ineffective
           Reclassified Portion and from AOCI Portion and
     Derivative Gain Location of from AOCI Amount into Amount
     (Loss) Recognized in Gain (Loss) into Income Excluded from Income Excluded from
Derivative   OCI (Effective Portion) Recognized  (Effective Effectiveness (Effective Effectiveness
Relationships Three Months Six Months in Income Portion) Testing) Portion) Testing)
Cash Flow Hedges:                    
 Interest rate swaps $ (93) $ (101) Interest expense       $ (1) $ (3)
 Cross-currency swaps   24   46 Interest expense $ 1      1   
           Other income            
            (expense) - net   16      38   
 Commodity contracts   (196)   429 Wholesale energy             
            marketing   198 $ (52)   376   (165)
           Fuel         1   
           Depreciation         1   
           Energy purchases   (207)   1   (311)   (17)
Total $ (265) $ 374    $ 8 $ (51) $ 105 $ (185)
                         
Net Investment Hedges:                     
  Foreign exchange contracts $ 1 $ 5               

Derivatives Not Designated as Location of Gain (Loss) Recognized in      
Hedging Instruments:  Income on Derivatives Three Months Six Months
         
Foreign exchange contracts Other income (expense) - net    $ 2
Commodity contracts Unregulated retail electric and gas $ 1   12
  Wholesale energy marketing   (435)   323
  Net energy trading margins (a)   2   11
  Fuel   (13)   (12)
  Energy purchases   244   (495)
  Total $ (201) $ (159)

(a)       Differs from the Statement of Income due to intra-month transactions that PPL defines as spot activity, which is not accounted for as a derivative.