Retirement and Postemployment Benefits (Tables)

12 Months Ended

Dec. 31, 2011

Retirement and Postemployment Benefits [Abstract]

Schedule of Net Periodic Defined Benefit Costs and Other Changes in Plan Assets

The following disclosures distinguish between the domestic (U.S.) and WPD (U.K.) pension plans.

			Pension Benefits
			U.S.						U.K.						Other Postretirement Benefits
			2011		2010		2009		2011		2010		2009		2011		2010		2009
PPL
Net periodic defined benefit costs
	(credits):
Service cost			$	95	$	64	$	60	$	44	$	17	$	9	$	12	$	8	$	6
Interest cost				217		159		145		282		151		156		33		28		29
Expected return on plan assets				(245)		(184)		(169)		(338)		(202)		(189)		(23)		(20)		(18)
Amortization of:
		Transition (asset) obligation						(5)								2		5		9
		Prior service cost		24		21		19		4		4		4				4		9
		Actuarial (gain) loss		30		8		3		57		48		2		6		6		2
Net periodic defined benefit costs
	(credits) prior to settlement
	charges and termination benefits			121		68		53		49		18		(18)		30		31		37
Settlement charges (a)								2
Termination benefits (b)								9		50
Net periodic defined benefit costs
	(credits)		$	121	$	68	$	64	$	99	$	18	$	(18)	$	30	$	31	$	37
Other Changes in Plan Assets
	and Benefit Obligations
	Recognized in OCI and
	Regulatory Assets/Liabilities -
	Gross:
Settlements							$	(2)
Current year net (gain) loss			$	117	$	142		102	$	152	$	17	$	403	$	(9)	$	20	$	32
Current year prior service cost
	(credit)			8				1								10		(71)		(4)
Amortization of:
		Transition asset						5								(2)		(5)		(9)
		Prior service cost		(24)		(21)		(19)		(4)		(4)		(4)				(4)		(8)
		Actuarial gain (loss)		(30)		(7)		(3)		(57)		(48)		(2)		(6)		(6)		(2)
Acquisition of regulatory assets/
	liabilities:
		Transition obligation																4
		Prior service cost				31												6
		Actuarial (gain) loss				303												(2)
Total recognized in OCI and
	regulatory assets/liabilities (c) (d)			71		448		84		91		(35)		397		(7)		(58)		9
Total recognized in net periodic
	benefit costs, OCI and regulatory
	assets/liabilities (d)		$	192	$	516	$	148	$	190	$	(17)	$	379	$	23	$	(27)	$	46

(a)       Includes the settlement of the pension plan of PPL's former mining subsidiary, PA Mines, LLC in 2009.

(b)Related to the 2011 WPD Midlands separations in the U.K.and a 2009 U.S.cost reduction initiative.

(c)       For PPL's U.S. pension benefits, the amounts recognized in OCI for 2011, 2010 and 2009 were $47 million, $84 million and $51 million. The amounts recognized in regulatory assets/liabilities for 2011, 2010 and 2009 were $24 million, $364 million and $33 million. In total, the amounts recognized in either OCI or regulatory assets/liabilities for 2011, 2010 and 2009 were $71 million, $448 million and $84 million.

       For other postretirement benefits, the amounts recognized in OCI for 2011, 2010 and 2009 were $(6) million, $(40) million and $6 million. The amounts recognized in regulatory assets/liabilities for 2011, 2010 and 2009 were $(1) million, $(18) million and $3 million. In total, the amounts recognized in either OCI or regulatory assets/liabilities for 2011, 2010 and 2009 were $(7) million, $(58) million and $9 million.

(d)       WPD is not subject to accounting for the effects of certain types of regulation as prescribed by GAAP. As a result, WPD does not record regulatory assets/liabilities.

Schedule of Amounts to be Amortized from AOCI and Regulatory Assets/Liabilities in Next Fiscal Year

The estimated amounts to be amortized from AOCI and regulatory assets/liabilities into net periodic benefit costs in 2012 are as follows:

					Other
	Pension Benefits				Postretirement
	U.S.		U.K.		Benefits
Transition obligation					$	2
Prior service cost	$	24	$	4		1
Actuarial loss		42		79		4
Total	$	66	$	83	$	7
Amortization from Balance Sheet:
AOCI	$	27	$	83	$	2
Regulatory assets/liabilities		39				5
Total	$	66	$	83	$	7

Schedule of Net Periodic Defined Benefit Costs Included in Income Statement

Net periodic defined benefit costs (credits) charged to operating expense, excluding amounts charged to construction and other non-expense accounts were:

	Pension Benefits
	U.S.						U.K. (a)						Other Postretirement Benefits
	2011		2010		2009		2011		2010		2009		2011		2010		2009
PPL	$	98	$	59	$	56	$	82	$	16	$	(17)	$	24	$	27	$	31
PPL Energy Supply (b)		27		24		26				16		(17)		7		12		14
PPL Electric (c)		14		12		14								4		8		10

Defined Benefit Plan Assumptions and Impact of One Point Change on Postretirement Plans

The following weighted-average assumptions were used in the valuation of the benefit obligations at December 31.

		Pension Benefits
		U.S.						U.K.						Other Postretirement Benefits
		2011		2010		2009		2011		2010		2009		2011		2010		2009
PPL
	Discount rate		5.06%		5.42%		6.00%		5.24%		5.54%		5.55%		4.80%		5.14%		5.81%
	Rate of compensation increase		4.02%		4.88%		4.75%		4.00%		4.00%		4.00%		4.00%		4.90%		4.75%
PPL Energy Supply
	Discount rate		5.12%		5.47%		6.00%				5.54%		5.55%		4.60%		4.95%		5.55%
	Rate of compensation increase		4.00%		4.75%		4.75%				4.00%		4.00%		4.00%		4.75%		4.75%

The following weighted-average assumptions were used to determine the net periodic benefit costs for the year ended December 31.

		Pension Benefits
		U.S.						U.K.						Other Postretirement Benefits
		2011		2010		2009		2011		2010		2009		2011		2010		2009
PPL
	Discount rate		5.42%		5.96%		6.50%		5.59%		5.59%		7.47%		5.14%		5.47%		6.45%
	Rate of compensation increase		4.88%		4.79%		4.75%		3.75%		4.00%		4.00%		4.90%		4.78%		4.75%
	Expected return on plan assets (a)		7.25%		7.96%		8.00%		7.04%		7.91%		7.90%		6.57%		6.90%		7.00%
PPL Energy Supply
	Discount rate		5.47%		6.00%		6.50%				5.59%		7.47%		4.95%		5.55%		6.37%
	Rate of compensation increase		4.75%		4.75%		4.75%				4.00%		4.00%		4.75%		4.75%		4.75%
	Expected return on plan assets (a)		7.25%		8.00%		7.78%				7.91%		7.90%		N/A		N/A		N/A

(a)       The expected long-term rates of return for PPL,PPL Energy Supply, LKE and LG&E'sU.S. pension and other postretirement benefits have been developed using a best-estimate of expected returns, volatilities and correlations for each asset class. The best estimates are based on historical performance, future expectations and periodic portfolio rebalancing among the diversified asset classes. PPL management corroborates these rates with expected long-term rates of return calculated by its independent actuary, who uses a building block approach that begins with a risk-free rate of return with factors being added such as inflation, duration, credit spreads and equity risk. Each plan's specific asset allocation is also considered in developing a reasonable return assumption.

       The expected long-term rates of return for PPL's U.K. pension plans have been developed by PPL management with assistance from an independent actuary using a best estimate of expected returns, volatilities and correlations for each asset class. The best estimates are based on historical performance, future expectations and periodic portfolio rebalancing among the diversified asset classes.

The following table provides the assumed health care cost trend rates for the year ended December 31.

			2011		2010		2009
PPL and PPL Energy Supply
	Health care cost trend rate assumed for next year
		- obligations		8.5%		9.0%		8.0%
		- cost		9.0%		8.0%		8.4%
	Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)
		- obligations		5.5%		5.5%		5.5%
		- cost		5.5%		5.5%		5.5%
	Year that the rate reaches the ultimate trend rate
		- obligations		2019		2019		2016
		- cost		2019		2016		2014

A one percentage point change in the assumed health care costs trend rate assumption would have had the following effects on the other postretirement benefit plans in 2011.

		One Percentage Point
		Increase		Decrease
Effect on accumulated postretirement benefit obligation
	PPL	$	8	$	(8)
	LKE		6		(5)

Schedule of Funded Status of Defined Benefit Plans

The funded status of the PPL plans was as follows.

			Pension Benefits
			U.S.				U.K.				Other Postretirement Benefits
			2011		2010		2011		2010		2011		2010
Change in Benefit Obligation
Benefit Obligation, beginning of period			$	4,007	$	2,460	$	2,841	$	2,933	$	667	$	498
		Service cost		95		64		44		17		12		8
		Interest cost		217		159		282		151		33		28
		Participant contributions						11		6		5		7
		Plan amendments		8								10		(71)
		Actuarial loss		220		222		257		37		6		32
		Acquisition (a)				1,231		3,501						206
		Curtailments
		Termination benefits						50
		Actual expenses paid				(2)
		Gross benefits paid		(166)		(127)		(309)		(152)		(47)		(44)
		Federal subsidy										1		3
		Currency conversion						(39)		(151)
Benefit Obligation, end of period				4,381		4,007		6,638		2,841		687		667
Change in Plan Assets
Plan assets at fair value, beginning of period				2,819		1,772		2,524		2,331		360		301
		Actual return on plan assets		349		263		444		228		38		33
		Employer contributions		470		148		164		231		33		17
		Participant contributions						11		6		5		7
		Acquisition (a)				765		3,567						42
		401(h) transfer
		Actual expenses paid		(1)		(2)
		Gross benefits paid		(166)		(127)		(309)		(152)		(45)		(40)
		Currency conversion						(50)		(120)
Plan assets at fair value, end of period				3,471		2,819		6,351		2,524		391		360
Funded Status, end of period			$	(910)	$	(1,188)	$	(287)	$	(317)	$	(296)	$	(307)
Amounts recognized in the Balance
	Sheets consist of:
		Noncurrent asset					$	130
		Current liability	$	(29)	$	(10)					$	(1)	$	(2)
		Noncurrent liability		(881)		(1,178)		(417)	$	(317)		(295)		(305)
Net amount recognized, end of period			$	(910)	$	(1,188)	$	(287)	$	(317)	$	(296)	$	(307)
Amounts recognized in AOCI and
	regulatory assets/liabilities (pre-tax)
	consist of: (b)
Transition obligation											$	2	$	4
Prior service cost (credit)			$	115	$	131	$	3	$	7		(5)		(16)
Net actuarial loss				922		836		1,191		1,097		97		112
Total (c)			$	1,037	$	967	$	1,194	$	1,104	$	94	$	100
Total accumulated benefit obligation
	for defined benefit pension plans		$	3,949	$	3,564	$	6,144	$	2,646

(a)       Includes the pension and other postretirement medical plans of LKE, which were acquired in 2010, and the pension plan of WPD Midlands, which was acquired in 2011. See Note 10 for additional information.

(b)       For PPL's U.S. pension benefits, the amounts recognized in AOCI for 2011 and 2010 were $481 million, $431 million. The amounts recognized in regulatory assets/liabilities for 2011 and 2010 were $556 million and $536 million. In total, the amounts recognized in either OCI or regulatory assets/liabilities for 2011 and 2010 were $1,037 million and $967 million.

       For other postretirement benefits, the amounts recognized in AOCI for 2011 and 2010 were $56 million and $53 million. The amounts recognized in regulatory assets/liabilities for 2011 and 2010 were $38 million and $47 million. In total, the amounts recognized in either OCI or regulatory assets/liabilities for 2011 and 2010 were $94 million and $100 million.

(c)WPD is not subject to accounting for the effects of certain types of regulation as prescribed by GAAP. As a result, WPD does not record regulatory assets/liabilities.

Contributions Made to Multiemployer Plans

The table below details total contributions to all multiemployer pension and other postretirement plans, including the plan identified as significant above. The contribution amounts fluctuate each year based on the volume of work and type of projects undertaken from year to year.

	2011		2010		2009
Pension Plans	$	36	$	26	$	29
Other Postretirement Medical Plans		31		23		25
Total Contributions	$	67	$	49	$	54

Schedules of Asset Allocation of U.S. Pension Trusts Assets

The asset allocation for the trusts and the target allocation by portfolio, at December 31 are as follows.

PPL Services Corporation Master Trust

								Target Asset
		Percentage of trust assets				Target Range		Allocation
		2011		2010		2011		2011
Growth Portfolio			57%		72%		45 - 60%		55%
	Equity securities		31%		43%
	Debt securities (a)		17%		20%
	Alternative investments		9%		9%
Immunizing Portfolio			41%		27%		35 - 55%		43%
	Debt securities (a)		40%		27%
	Derivatives		1%
Liquidity Portfolio			2%		1%		0 - 9%		2%
Total			100%		100%				100%

(a)Includes commingled debt funds, which PPL treats as debt securities for asset allocation purposes.

Schedule of Fair Value of Financial Assets for U.S. Pension Plan Assets

The fair value of net assets in the U.S. pension plan trusts by asset class and level within the fair value hierarchy was:

				December 31, 2011								December 31, 2010
						Fair Value Measurements Using								Fair Value Measurements Using
				Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3
PPL Services Corporation Master Trust
Cash and cash equivalents				$	78	$	78					$	87	$	87
Equity securities:
		U.S.:
			Large-cap		371		247	$	124				414		293	$	121
			Small-cap		112		112						113		113
			Commingled debt		458				458				249				249
		International			299		102		197				343		121		222
Debt securities:
		U.S. Treasury and U.S. government sponsored
			agency		515		443		72				331		295		36
		Residential/commercial backed securities			9				9				10				10
		Corporate			446				439	$	7		319				313	$	6
		Other			10				10				12				12
		International			6				6				3				3
Alternative investments:
		Real estate			85				85				76				76
		Private equity			45						45		10						10
		Hedge fund of funds			92				92				95				95
Derivatives:
		TBA debt securities			5						5		31						31
		Interest rate swaps			20				20				(4)				(4)
Receivables					50		31		19				24		13		11
Payables					(48)		(40)		(8)				(54)		(51)		(3)
Total PPL Services Corporation Master Trust assets					2,553		973		1,523		57		2,059		871		1,141		47
401(h) account restricted for other
	postretirement benefit obligations				(26)		(10)		(16)				(18)		(8)		(10)
Fair value - PPL Services Corporation Master
	Trust pension assets				2,527		963		1,507		57		2,041		863		1,131		47
(LKE)
LG&E and KU Energy LLC Pension Trusts
Cash and cash equivalents					122		122						6		6
Equity securities:
		U.S.:
			Large-cap		220				220				293				293
			Small/Mid-cap										67				67
			Commingled debt		65				65				307				307
		International			106		44		62				105				105
Debt securities:
		U.S. Treasury			97		97
		Corporate			342				342
Derivatives:
		Total return swaps			4				4
Insurance contracts					46						46		47						47
Total LG&E and KU Energy LLC
	Pension Trusts assets				1,002		263		693		46		825		6		772		47
401(h) account restricted for other
	postretirement benefit obligations				(58)		(13)		(45)				(47)				(47)
Fair value - LG&E and KU Energy LLC
	Pension Trusts pension assets				944		250		648		46		778		6		725		47
Fair value - total U.S. pension plans				$	3,471	$	1,213	$	2,155	$	103	$	2,819	$	869	$	1,856	$	94

Reconciliation of Reconciliation of U.S. Pension Trust Assets Classified as Level 3 Included in Earnings.S. Pension Trust Assets Classified As Level 3 Included In Earnings

A reconciliation of U.S. pension trust assets classified as Level 3 at December 31, 2011 is as follows.

				Residential
				/commercial
				backed	Corporate		Private		TBA debt		Insurance
				securities	debt		equity		securities		contracts		Total
Balance at beginning of period					$	6	$	10	$	31	$	47	$	94
	Actual return on plan assets
		Relating to assets still held
			at the reporting date			(4)		8				3		7
	Purchases, sales and settlements					5		27		(26)		(4)		2
Balance at end of period					$	7	$	45	$	5	$	46	$	103

A reconciliation of U.S. pension trust assets classified as Level 3 at December 31, 2010 is as follows.

				Residential
				/commercial
				backed		Corporate		Private		TBA debt		Insurance
				securities		debt		equity		securities		contracts		Total
Balance at beginning of period				$	2	$	10	$	6	$	10			$	28
	Actual return on plan assets
		Relating to assets still held
			at the reporting date		(1)		(1)		(1)						(3)
		Relating to assets sold during the period					1								1
	Acquisition of LKE											$	46		46
	Purchases, sales and settlements				(1)		(4)		5		21		1		22
Balance at end of period				$		$	6	$	10	$	31	$	47	$	94

Schedules of Target Allocation of U.S. Other Postretirement Benefit Plans VEBA Trust

The asset allocation for the VEBA trusts and the target allocation, by asset class, at December 31, are detailed below.

						Target		Target Asset
		Percentage of plan assets				Range		Allocation
		2011		2010		2011		2011
Asset Class
U.S. Equity securities			53%		55%		45 - 65%		55%
Debt securities (a)			41%		39%		30 - 50%		40%
Cash and cash equivalents (b)			6%		6%		0 - 15%		5%
	Total		100%		100%				100%

(a)       Includes commingled debt funds and debt securities.

(b)       Includes commingled money market fund.

Schedule of Fair Value of Financial Assets for U.S. Postretirement Benefits

The fair value of assets in the U.S. other postretirement benefit plans by asset class and level within the fair value hierarchy was:

			December 31, 2011							December 31, 2010
					Fair Value Measurement Using							Fair Value Measurement Using
			Total		Level 1		Level 2		Level 3	Total		Level 1		Level 2		Level 3
U.S. Equity securities:
		Large-cap	$	126			$	126		$	163			$	163
		Commingled debt		121				121			69				69
		Commingled money market funds		20				20			18				18
Debt securities:
		Municipalities		40				40			44				44
Receivables											1				1
Total VEBA trust assets				307				307			295				295
401(h) account assets				84	$	23		61			65	$	8		57
Fair value - U.S. other postretirement
	benefit plans		$	391	$	23	$	368		$	360	$	8	$	352

Schedules of Asset Allocation of U.K. Pension Plan Assets

The asset allocation and target allocation at December 31 of WPD's pension plans are detailed below.

						Target Asset
		Percentage of plan assets				Allocation
		2011		2010		2011
Asset Class
Cash and cash equivalents			5%		2%
Equity securities
	U.K.		14%		18%		14%
	European (excluding the U.K.)		5%		11%		6%
	Asian-Pacific		5%		11%		5%
	North American		5%		6%		4%
	Emerging markets		2%		5%		2%
	Currency		1%		2%		2%
	Global Tactical Asset Allocation				1%		1%
Debt securities (a)			56%		38%		57%
Alternative investments			7%		6%		9%
	Total		100%		100%		100%

(a)       Includes commingled debt funds.

Schedule of Fair Value of Financial Assets for U.K. Pension Plan Assets

The fair value of assets in the U.K. pension plans by asset class and level within the fair value hierarchy was:

			December 31, 2011							December 31, 2010
					Fair Value Measurement Using							Fair Value Measurement Using
			Total		Level 1		Level 2		Level 3	Total		Level 1		Level 2		Level 3
Cash and cash equivalents			$	313	$	313				$	46	$	46
Equity securities:
	U.K. companies			921			$	921			455			$	455
	European companies (excluding the U.K.)			313				313			273				273
	Asian-Pacific companies			312				312			279				279
	North American companies			335				335			162				162
	Emerging markets companies			116				116			127				127
	Currency			31				31			51				51
	Global Tactical Asset Allocation			25				25			23				23
	Commingled debt:
		U.K. corporate bonds		699				699			321				321
		U.K. gilts		2,109				2,109
		U.K. index-linked gilts		744				744			629				629
Alternative investments:
	Real estate			433				433			158				158
Fair value - international pension plans			$	6,351	$	313	$	6,038		$	2,524	$	46	$	2,478

Schedule of Expected Cash Flows - U.S. Defined Benefit Plans - Expected Payments and Related Federal Subsidy

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid and the following federal subsidy payments are expected to be received by the separate plan trusts.

			Other Postretirement
					Expected
			Benefit		Federal
		Pension	Payment		Subsidy
2012	$	205	$	50	$	1
2013		192		53		1
2014		203		57		1
2015		217		59		1
2016		229		62		1
2017-2021		1,384		348		4

Schedule of Expected Cash Flows - U.K. Pension Plans - Expected Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the separate plan trusts.

	Pension
2012	$	354
2013		357
2014		363
2015		371
2016		375
2017-2021		1,987

Expected Employer Contributions to U.S. Savings Plans

Substantially all employees of PPL's domestic subsidiaries are eligible to participate in deferred savings plans (401(k)s). Employer contributions to the plans were as follows.

	2011		2010		2009
PPL	$	31	$	23	$	17
PPL Energy Supply		11		10		10
PPL Electric		5		4		4