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Financing Activities (Tables)
 12 Months Ended
Dec. 31, 2013
Financing Activities [Line Items]  
Credit Facilities in Place at Period End

The following credit facilities were in place at:

       December 31, 2013 December 31, 2012
                Letters of      Letters of
                Credit Issued       Credit Issued
                and       and
                Commercial       Commercial
       Expiration      Paper Unused   Paper
        Date Capacity Borrowed Backup Capacity Borrowed Backup
PPL                    
U.K.                    
 PPL WW Syndicated                    
  Credit Facility (a) (d) Dec. 2016 £ 210 £ 103    £ 107 £ 106   
 WPD (South West)                     
  Syndicated Credit Facility (a) (d) Jan. 2017   245         245      
 WPD (East Midlands)                     
  Syndicated Credit Facility (a) (b) (d) Apr. 2016   300         300      
 WPD (West Midlands)                    
  Syndicated Credit Facility (a) (b) (d) Apr. 2016   300         300      
 Uncommitted Credit Facilities     84    £ 5   79    £ 4
   Total U.K. Credit Facilities (c)   £ 1,139 £ 103 £ 5 £ 1,031 £ 106 £ 4
                           
U.S.                    
 PPL Capital Funding                    
  Syndicated Credit Facility (d) (e) (g) Nov. 2018 $ 300 $ 270    $ 30      
                           
PPL Energy Supply                     
 Syndicated Credit Facility (d) (e) Nov. 2017 $ 3,000    $ 29 $ 2,971    $ 499
 Letter of Credit Facility (e) Mar. 2014   150      138   12      132
 Uncommitted Credit Facilities (e)      175      77   98      40
   Total PPL Energy Supply Credit Facilities $ 3,325    $ 244 $ 3,081    $ 671
                           
PPL Electric                    
 Syndicated Credit Facility (d) (e) Oct. 2017 $ 300    $ 21 $ 279    $ 1
                           
LKE                     
                           
 Syndicated Credit Facility (d) (e) (g) Oct. 2018 $ 75 $ 75            
                           
LG&E                     
 Syndicated Credit Facility (d) (e)  Nov. 2017 $ 500    $ 20 $ 480    $ 55
                           
KU                     
 Syndicated Credit Facility (d) (e)  Nov. 2017 $ 400    $ 150 $ 250    $ 70
 Letter of Credit Facility (d) (e) (f) May 2016   198      198         198
   Total KU Credit Facilities    $ 598    $ 348 $ 250    $ 268

(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)       Under these facilities, WPD (East Midlands) and WPD (West Midlands) each have the ability to request the lenders to issue up to £80 million of letters of credit in lieu of borrowing.

(c)       PPL WW's amounts borrowed at December 31, 2013 and 2012 were USD-denominated borrowings of $166 million and $171 million, which equated to £103 million and £106 million at the time of the borrowings and bore interest at 1.87% and 0.85%. At December 31, 2013, the unused capacity of WPD's credit facilities was approximately $1.7 billion.

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

(e)       The facilities contain a financial covenant requiring debt to total capitalization not to exceed 65% for PPL Energy Supply and 70% for PPL, 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 credit facilities and subject to certain conditions, 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.

(f)       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.

(g)       PPL Capital Funding's and LKE's borrowings at December 31, 2013 bore interest at 1.79% and 1.67%, respectively.

Long-term Debt

Long-term Debt (All Registrants)

    Weighted-Average   December 31,
    Rate Maturities 2013 2012
PPL         
U.S.         
 Senior Unsecured Notes (a)4.31% 2014 - 2043 $ 5,568 $ 4,506
 Senior Secured Notes/First Mortgage Bonds (b) (c) (d) (e)3.80% 2015 - 2043   5,823   5,587
 Junior Subordinated Notes5.29% 2019 - 2073   1,908   2,608
 Other6.95% 2014 - 2020   15   15
   Total U.S. Long-term Debt      13,314   12,716
             
U.K.         
 Senior Unsecured Notes (f)5.53% 2016 - 2040   6,872   6,111
 Index-linked Senior Unsecured Notes (g)1.83% 2043 - 2056   749   608
   Total U.K. Long-term Debt (h)      7,621   6,719
   Total Long-term Debt Before Adjustments      20,935   19,435
             
 Fair market value adjustments      23   78
 Unamortized premium and (discount), net      (51)   (37)
   Total Long-term Debt      20,907   19,476
 Less current portion of Long-term Debt      315   751
   Total Long-term Debt, noncurrent    $ 20,592 $ 18,725
             
PPL Energy Supply         
 Senior Unsecured Notes (a)5.32% 2014 - 2038 $ 2,493 $ 2,581
 Senior Secured Notes (b)8.86% 2025   49   663
 Other6.00% 2020   5   5
   Total Long-term Debt Before Adjustments      2,547   3,249
             
 Fair market value adjustments      (22)   22
 Unamortized premium and (discount), net         1
   Total Long-term Debt      2,525   3,272
 Less current portion of Long-term Debt      304   751
   Total Long-term Debt, noncurrent    $ 2,221 $ 2,521
             
PPL Electric         
 Senior Secured Notes/First Mortgage Bonds (c) (d)4.63% 2015 - 2043 $ 2,314 $ 1,964
 Other7.38% 2014   10   10
   Total Long-term Debt Before Adjustments      2,324   1,974
             
 Unamortized discount       (9)   (7)
   Total Long-term Debt      2,315   1,967
 Less current portion of Long-term Debt      10   
   Total Long-term Debt, noncurrent    $ 2,305 $ 1,967
             
LKE         
 Senior Unsecured Notes3.31% 2015 - 2021 $ 1,125 $ 1,125
 Senior Secured Notes/First Mortgage Bonds (c) (e)3.18% 2015 - 2043   3,460   2,960
   Total Long-term Debt Before Adjustments      4,585   4,085
             
 Fair market value adjustments       (1)   7
 Unamortized discount       (19)   (17)
   Total Long-term Debt    $ 4,565 $ 4,075
             
LG&E         
 Senior Secured Notes/First Mortgage Bonds (c) (e)2.77% 2015 - 2043 $ 1,359 $ 1,109
   Total Long-term Debt Before Adjustments      1,359   1,109
             
 Fair market value adjustments       (1)  6
 Unamortized discount       (5)   (3)
   Total Long-term Debt    $ 1,353 $ 1,112
             
KU         
 Senior Secured Notes/First Mortgage Bonds (c) (e)3.44% 2015 - 2043 $ 2,101 $ 1,851
   Total Long-term Debt Before Adjustments      2,101   1,851
             
 Fair market value adjustments      1  1
 Unamortized discount       (11)   (10)
   Total Long-term Debt    $ 2,091 $ 1,842

(a)       Includes $300 million 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 PPL Energy 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)       2012 includes lease financing consolidated through a VIE which was repaid in 2013. See Note 22 for additional information.

(c)       Includes PPL 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 $5.1 billion and $4.3 billion at December 31, 2013 and 2012.

 

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 $3.2 billion and $2.7 billion at December 31, 2013 and December 31, 2012.

 

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 $5.1 billion and $4.4 billion at December 31, 2013 and December 31, 2012.

(d)       Includes PPL Electric's series 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 (c) 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.

(e)       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 amount, 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 (c) 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, 2013, the aggregate tax-exempt revenue bonds issued on behalf of LG&E and KU that were in a term rate mode totaled $321 million for LKE, comprised of $294 million and $27 million for LG&E and KU. At December 31, 2013, the aggregate tax-exempt revenue bonds issued on behalf of LG&E and KU that were in a variable rate mode totaled $604 million for LKE, comprised of $280 million and $324 million for LG&E and KU.

 

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 $348 million at December 31, 2013 ($120 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.

(f)       Includes £225 million ($368 million at December 31, 2013) 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.

(g)       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 2012 to 2013 was an increase of approximately £12 million ($20 million) resulting from inflation. In addition, this amount includes £225 million ($368 million at December 31, 2013) 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.

(h)       Includes £3.8 billion ($6.2 billion at December 31, 2013) 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 for the periods 2014 through 2018 and thereafter are as follows.

     PPL            
     Energy  PPL         
  PPL Supply Electric LKE LG&E KU
                   
2014 $ 314 $ 304 $ 10         
2015   1,304   304   100 $ 900 $ 250 $ 250
2016   814   354            
2017   104   4            
2018   653   403            
Thereafter   17,746   1,178   2,214   3,685   1,109   1,851
Total $ 20,935 $ 2,547 $ 2,324 $ 4,585 $ 1,359 $ 2,101
PPL Energy Supply LLC [Member]
  
Financing Activities [Line Items]  
Commercial paper

The following commercial paper programs were in place at:

       December 31, 2013 December 31, 2012
       Weighted -    Commercial   Weighted - Commercial
       Average     Paper Unused Average  Paper
       Interest Rate Capacity Issuances Capacity Interest Rate Issuances
                        
 PPL Energy Supply   $ 750    $ 750  0.50% $ 356
 PPL Electric 0.23%   300 $ 20   280      
 LG&E  0.29%   350   20   330  0.42%   55
 KU  0.32%   350   150   200  0.42%   70
   Total    $ 1,750 $ 190 $ 1,560    $ 481
Dividends/distributions paid to and capital contributions received from parent/member
(All Registrants except PPL)
                    
The following distributions and capital contributions occurred in 2013:
                  
    PPL Energy PPL          
    Supply Electric  LKE LG&E KU
                    
Dividends/distributions paid to parent/member $ 408 $ 127 $ 254 $ 99 $ 124
Capital contributions received from parent/member   1,577   205   243   86   157
PPL Electric Utilities Corp [Member]
  
Financing Activities [Line Items]  
Commercial paper

The following commercial paper programs were in place at:

       December 31, 2013 December 31, 2012
       Weighted -    Commercial   Weighted - Commercial
       Average     Paper Unused Average  Paper
       Interest Rate Capacity Issuances Capacity Interest Rate Issuances
                        
 PPL Energy Supply   $ 750    $ 750  0.50% $ 356
 PPL Electric 0.23%   300 $ 20   280      
 LG&E  0.29%   350   20   330  0.42%   55
 KU  0.32%   350   150   200  0.42%   70
   Total    $ 1,750 $ 190 $ 1,560    $ 481
Dividends/distributions paid to and capital contributions received from parent/member
(All Registrants except PPL)
                    
The following distributions and capital contributions occurred in 2013:
                  
    PPL Energy PPL          
    Supply Electric  LKE LG&E KU
                    
Dividends/distributions paid to parent/member $ 408 $ 127 $ 254 $ 99 $ 124
Capital contributions received from parent/member   1,577   205   243   86   157
LG And E And KU Energy LLC [Member]
  
Financing Activities [Line Items]  
Dividends/distributions paid to and capital contributions received from parent/member
(All Registrants except PPL)
                    
The following distributions and capital contributions occurred in 2013:
                  
    PPL Energy PPL          
    Supply Electric  LKE LG&E KU
                    
Dividends/distributions paid to parent/member $ 408 $ 127 $ 254 $ 99 $ 124
Capital contributions received from parent/member   1,577   205   243   86   157
Louisville Gas And Electric Co [Member]
  
Financing Activities [Line Items]  
Commercial paper

The following commercial paper programs were in place at:

       December 31, 2013 December 31, 2012
       Weighted -    Commercial   Weighted - Commercial
       Average     Paper Unused Average  Paper
       Interest Rate Capacity Issuances Capacity Interest Rate Issuances
                        
 PPL Energy Supply   $ 750    $ 750  0.50% $ 356
 PPL Electric 0.23%   300 $ 20   280      
 LG&E  0.29%   350   20   330  0.42%   55
 KU  0.32%   350   150   200  0.42%   70
   Total    $ 1,750 $ 190 $ 1,560    $ 481
Dividends/distributions paid to and capital contributions received from parent/member
(All Registrants except PPL)
                    
The following distributions and capital contributions occurred in 2013:
                  
    PPL Energy PPL          
    Supply Electric  LKE LG&E KU
                    
Dividends/distributions paid to parent/member $ 408 $ 127 $ 254 $ 99 $ 124
Capital contributions received from parent/member   1,577   205   243   86   157
Kentucky Utilities Co [Member]
  
Financing Activities [Line Items]  
Commercial paper

The following commercial paper programs were in place at:

       December 31, 2013 December 31, 2012
       Weighted -    Commercial   Weighted - Commercial
       Average     Paper Unused Average  Paper
       Interest Rate Capacity Issuances Capacity Interest Rate Issuances
                        
 PPL Energy Supply   $ 750    $ 750  0.50% $ 356
 PPL Electric 0.23%   300 $ 20   280      
 LG&E  0.29%   350   20   330  0.42%   55
 KU  0.32%   350   150   200  0.42%   70
   Total    $ 1,750 $ 190 $ 1,560    $ 481
Dividends/distributions paid to and capital contributions received from parent/member
(All Registrants except PPL)
                    
The following distributions and capital contributions occurred in 2013:
                  
    PPL Energy PPL          
    Supply Electric  LKE LG&E KU
                    
Dividends/distributions paid to parent/member $ 408 $ 127 $ 254 $ 99 $ 124
Capital contributions received from parent/member   1,577   205   243   86   157