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Utility Rate Regulation (Tables)

12 Months Ended

Dec. 31, 2015

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations at December 31.

		PPL				PPL Electric
		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5
	Gas supply clause		1		15
	Transmission service charge		10		6	$	10	$	6
	Other		13		11		3		6
Total current regulatory assets (a)		$	48	$	37	$	13	$	12

Noncurrent Regulatory Assets:
	Defined benefit plans	$	809	$	720	$	469	$	372
	Taxes recoverable through future rates		326		316		326		316
	Storm costs		93		124		30		46
	Unamortized loss on debt		68		77		42		49
	Interest rate swaps		141		122
	Accumulated cost of removal of utility plant		137		114		137		114
	AROs		143		79
	Other		16		10		2
Total noncurrent regulatory assets		$	1,733	$	1,562	$	1,006	$	897

Current Regulatory Liabilities:
	Generation supply charge	$	41	$	28	$	41	$	28
	Demand side management		8		2
	Gas supply clause		6		6
	Transmission formula rate		48		42		48		42
	Fuel adjustment clause		14
	Storm damage expense		16		3		16		3
	Other		12		10		8		3
Total current regulatory liabilities		$	145	$	91	$	113	$	76

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	691	$	693
	Coal contracts (b)		17		59
	Power purchase agreement - OVEC (b)		83		92
	Net deferred tax assets		23		26
	Act 129 compliance rider		22		18	$	22	$	18
	Defined benefit plans		24		16
	Interest rate swaps		82		84
	Other		3		4
Total noncurrent regulatory liabilities		$	945	$	992	$	22	$	18

		LKE				LG&E				KU
		2015		2014		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5	$	13	$	4	$	11	$	1
	Gas supply clause		1		15		1		15
	Fuel adjustment clause				4				2				2
	Gas line tracker		1				1
	Other		9		1		1				8		1
Total current regulatory assets		$	35	$	25	$	16	$	21	$	19	$	4

Noncurrent Regulatory Assets:
	Defined benefit plans	$	340	$	348	$	215	$	215	$	125	$	133
	Storm costs		63		78		35		43		28		35
	Unamortized loss on debt		26		28		17		18		9		10
	Interest rate swaps		141		122		98		89		43		33
	AROs		143		79		57		28		86		51
	Plant retirement costs		6								6
	Other		8		10		2		4		6		6
Total noncurrent regulatory assets		$	727	$	665	$	424	$	397	$	303	$	268

Current Regulatory Liabilities:
	Demand side management		$	8	$	2	$	4	$	1	$	4	$	1
	Gas supply clause			6		6		6		6
	Fuel adjustment clause			14				2				12
	Gas line tracker					3				3
	Other			4		4		1				3		4
Total current regulatory liabilities			$	32	$	15	$	13	$	10	$	19	$	5

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	691	$	693	$	301	$	302	$	390	$	391
	Coal contracts (b)			17		59		7		25		10		34
	Power purchase agreement - OVEC (b)			83		92		57		63		26		29
	Net deferred tax assets			23		26		23		24				2
	Defined benefit plans			24		16						24		16
	Interest rate swaps			82		84		41		42		41		42
	Other			3		4		2		2		1		2
Total noncurrent regulatory liabilities			$	923	$	974	$	431	$	458	$	492	$	516

(a) For PPL, these amounts are included in "Other current assets" on the Balance Sheets.

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

PPL Electric Utilities Corp [Member]

Regulated Operations [Line Items]

Regulatory Assets and Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations at December 31.

		PPL				PPL Electric
		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5
	Gas supply clause		1		15
	Transmission service charge		10		6	$	10	$	6
	Other		13		11		3		6
Total current regulatory assets (a)		$	48	$	37	$	13	$	12

Noncurrent Regulatory Assets:
	Defined benefit plans	$	809	$	720	$	469	$	372
	Taxes recoverable through future rates		326		316		326		316
	Storm costs		93		124		30		46
	Unamortized loss on debt		68		77		42		49
	Interest rate swaps		141		122
	Accumulated cost of removal of utility plant		137		114		137		114
	AROs		143		79
	Other		16		10		2
Total noncurrent regulatory assets		$	1,733	$	1,562	$	1,006	$	897

Current Regulatory Liabilities:
	Generation supply charge	$	41	$	28	$	41	$	28
	Demand side management		8		2
	Gas supply clause		6		6
	Transmission formula rate		48		42		48		42
	Fuel adjustment clause		14
	Storm damage expense		16		3		16		3
	Other		12		10		8		3
Total current regulatory liabilities		$	145	$	91	$	113	$	76

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	691	$	693
	Coal contracts (b)		17		59
	Power purchase agreement - OVEC (b)		83		92
	Net deferred tax assets		23		26
	Act 129 compliance rider		22		18	$	22	$	18
	Defined benefit plans		24		16
	Interest rate swaps		82		84
	Other		3		4
Total noncurrent regulatory liabilities		$	945	$	992	$	22	$	18

		LKE				LG&E				KU
		2015		2014		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5	$	13	$	4	$	11	$	1
	Gas supply clause		1		15		1		15
	Fuel adjustment clause				4				2				2
	Gas line tracker		1				1
	Other		9		1		1				8		1
Total current regulatory assets		$	35	$	25	$	16	$	21	$	19	$	4

Noncurrent Regulatory Assets:
	Defined benefit plans	$	340	$	348	$	215	$	215	$	125	$	133
	Storm costs		63		78		35		43		28		35
	Unamortized loss on debt		26		28		17		18		9		10
	Interest rate swaps		141		122		98		89		43		33
	AROs		143		79		57		28		86		51
	Plant retirement costs		6								6
	Other		8		10		2		4		6		6
Total noncurrent regulatory assets		$	727	$	665	$	424	$	397	$	303	$	268

Current Regulatory Liabilities:
	Demand side management		$	8	$	2	$	4	$	1	$	4	$	1
	Gas supply clause			6		6		6		6
	Fuel adjustment clause			14				2				12
	Gas line tracker					3				3
	Other			4		4		1				3		4
Total current regulatory liabilities			$	32	$	15	$	13	$	10	$	19	$	5

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	691	$	693	$	301	$	302	$	390	$	391
	Coal contracts (b)			17		59		7		25		10		34
	Power purchase agreement - OVEC (b)			83		92		57		63		26		29
	Net deferred tax assets			23		26		23		24				2
	Defined benefit plans			24		16						24		16
	Interest rate swaps			82		84		41		42		41		42
	Other			3		4		2		2		1		2
Total noncurrent regulatory liabilities			$	923	$	974	$	431	$	458	$	492	$	516

LG And E And KU Energy LLC [Member]

Regulated Operations [Line Items]

Regulatory Assets and Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations at December 31.

		PPL				PPL Electric
		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5
	Gas supply clause		1		15
	Transmission service charge		10		6	$	10	$	6
	Other		13		11		3		6
Total current regulatory assets (a)		$	48	$	37	$	13	$	12

Noncurrent Regulatory Assets:
	Defined benefit plans	$	809	$	720	$	469	$	372
	Taxes recoverable through future rates		326		316		326		316
	Storm costs		93		124		30		46
	Unamortized loss on debt		68		77		42		49
	Interest rate swaps		141		122
	Accumulated cost of removal of utility plant		137		114		137		114
	AROs		143		79
	Other		16		10		2
Total noncurrent regulatory assets		$	1,733	$	1,562	$	1,006	$	897

Current Regulatory Liabilities:
	Generation supply charge	$	41	$	28	$	41	$	28
	Demand side management		8		2
	Gas supply clause		6		6
	Transmission formula rate		48		42		48		42
	Fuel adjustment clause		14
	Storm damage expense		16		3		16		3
	Other		12		10		8		3
Total current regulatory liabilities		$	145	$	91	$	113	$	76

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	691	$	693
	Coal contracts (b)		17		59
	Power purchase agreement - OVEC (b)		83		92
	Net deferred tax assets		23		26
	Act 129 compliance rider		22		18	$	22	$	18
	Defined benefit plans		24		16
	Interest rate swaps		82		84
	Other		3		4
Total noncurrent regulatory liabilities		$	945	$	992	$	22	$	18

		LKE				LG&E				KU
		2015		2014		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5	$	13	$	4	$	11	$	1
	Gas supply clause		1		15		1		15
	Fuel adjustment clause				4				2				2
	Gas line tracker		1				1
	Other		9		1		1				8		1
Total current regulatory assets		$	35	$	25	$	16	$	21	$	19	$	4

Noncurrent Regulatory Assets:
	Defined benefit plans	$	340	$	348	$	215	$	215	$	125	$	133
	Storm costs		63		78		35		43		28		35
	Unamortized loss on debt		26		28		17		18		9		10
	Interest rate swaps		141		122		98		89		43		33
	AROs		143		79		57		28		86		51
	Plant retirement costs		6								6
	Other		8		10		2		4		6		6
Total noncurrent regulatory assets		$	727	$	665	$	424	$	397	$	303	$	268

Current Regulatory Liabilities:
	Demand side management		$	8	$	2	$	4	$	1	$	4	$	1
	Gas supply clause			6		6		6		6
	Fuel adjustment clause			14				2				12
	Gas line tracker					3				3
	Other			4		4		1				3		4
Total current regulatory liabilities			$	32	$	15	$	13	$	10	$	19	$	5

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	691	$	693	$	301	$	302	$	390	$	391
	Coal contracts (b)			17		59		7		25		10		34
	Power purchase agreement - OVEC (b)			83		92		57		63		26		29
	Net deferred tax assets			23		26		23		24				2
	Defined benefit plans			24		16						24		16
	Interest rate swaps			82		84		41		42		41		42
	Other			3		4		2		2		1		2
Total noncurrent regulatory liabilities			$	923	$	974	$	431	$	458	$	492	$	516

Louisville Gas And Electric Co [Member]

Regulated Operations [Line Items]

Regulatory Assets and Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations at December 31.

		PPL				PPL Electric
		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5
	Gas supply clause		1		15
	Transmission service charge		10		6	$	10	$	6
	Other		13		11		3		6
Total current regulatory assets (a)		$	48	$	37	$	13	$	12

Noncurrent Regulatory Assets:
	Defined benefit plans	$	809	$	720	$	469	$	372
	Taxes recoverable through future rates		326		316		326		316
	Storm costs		93		124		30		46
	Unamortized loss on debt		68		77		42		49
	Interest rate swaps		141		122
	Accumulated cost of removal of utility plant		137		114		137		114
	AROs		143		79
	Other		16		10		2
Total noncurrent regulatory assets		$	1,733	$	1,562	$	1,006	$	897

Current Regulatory Liabilities:
	Generation supply charge	$	41	$	28	$	41	$	28
	Demand side management		8		2
	Gas supply clause		6		6
	Transmission formula rate		48		42		48		42
	Fuel adjustment clause		14
	Storm damage expense		16		3		16		3
	Other		12		10		8		3
Total current regulatory liabilities		$	145	$	91	$	113	$	76

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	691	$	693
	Coal contracts (b)		17		59
	Power purchase agreement - OVEC (b)		83		92
	Net deferred tax assets		23		26
	Act 129 compliance rider		22		18	$	22	$	18
	Defined benefit plans		24		16
	Interest rate swaps		82		84
	Other		3		4
Total noncurrent regulatory liabilities		$	945	$	992	$	22	$	18

		LKE				LG&E				KU
		2015		2014		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5	$	13	$	4	$	11	$	1
	Gas supply clause		1		15		1		15
	Fuel adjustment clause				4				2				2
	Gas line tracker		1				1
	Other		9		1		1				8		1
Total current regulatory assets		$	35	$	25	$	16	$	21	$	19	$	4

Noncurrent Regulatory Assets:
	Defined benefit plans	$	340	$	348	$	215	$	215	$	125	$	133
	Storm costs		63		78		35		43		28		35
	Unamortized loss on debt		26		28		17		18		9		10
	Interest rate swaps		141		122		98		89		43		33
	AROs		143		79		57		28		86		51
	Plant retirement costs		6								6
	Other		8		10		2		4		6		6
Total noncurrent regulatory assets		$	727	$	665	$	424	$	397	$	303	$	268

Current Regulatory Liabilities:
	Demand side management		$	8	$	2	$	4	$	1	$	4	$	1
	Gas supply clause			6		6		6		6
	Fuel adjustment clause			14				2				12
	Gas line tracker					3				3
	Other			4		4		1				3		4
Total current regulatory liabilities			$	32	$	15	$	13	$	10	$	19	$	5

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	691	$	693	$	301	$	302	$	390	$	391
	Coal contracts (b)			17		59		7		25		10		34
	Power purchase agreement - OVEC (b)			83		92		57		63		26		29
	Net deferred tax assets			23		26		23		24				2
	Defined benefit plans			24		16						24		16
	Interest rate swaps			82		84		41		42		41		42
	Other			3		4		2		2		1		2
Total noncurrent regulatory liabilities			$	923	$	974	$	431	$	458	$	492	$	516

Kentucky Utilities Co [Member]

Regulated Operations [Line Items]

Regulatory Assets and Liabilities

The following table provides information about the regulatory assets and liabilities of cost-based rate-regulated utility operations at December 31.

		PPL				PPL Electric
		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5
	Gas supply clause		1		15
	Transmission service charge		10		6	$	10	$	6
	Other		13		11		3		6
Total current regulatory assets (a)		$	48	$	37	$	13	$	12

Noncurrent Regulatory Assets:
	Defined benefit plans	$	809	$	720	$	469	$	372
	Taxes recoverable through future rates		326		316		326		316
	Storm costs		93		124		30		46
	Unamortized loss on debt		68		77		42		49
	Interest rate swaps		141		122
	Accumulated cost of removal of utility plant		137		114		137		114
	AROs		143		79
	Other		16		10		2
Total noncurrent regulatory assets		$	1,733	$	1,562	$	1,006	$	897

Current Regulatory Liabilities:
	Generation supply charge	$	41	$	28	$	41	$	28
	Demand side management		8		2
	Gas supply clause		6		6
	Transmission formula rate		48		42		48		42
	Fuel adjustment clause		14
	Storm damage expense		16		3		16		3
	Other		12		10		8		3
Total current regulatory liabilities		$	145	$	91	$	113	$	76

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal of utility plant	$	691	$	693
	Coal contracts (b)		17		59
	Power purchase agreement - OVEC (b)		83		92
	Net deferred tax assets		23		26
	Act 129 compliance rider		22		18	$	22	$	18
	Defined benefit plans		24		16
	Interest rate swaps		82		84
	Other		3		4
Total noncurrent regulatory liabilities		$	945	$	992	$	22	$	18

		LKE				LG&E				KU
		2015		2014		2015		2014		2015		2014

Current Regulatory Assets:
	Environmental cost recovery	$	24	$	5	$	13	$	4	$	11	$	1
	Gas supply clause		1		15		1		15
	Fuel adjustment clause				4				2				2
	Gas line tracker		1				1
	Other		9		1		1				8		1
Total current regulatory assets		$	35	$	25	$	16	$	21	$	19	$	4

Noncurrent Regulatory Assets:
	Defined benefit plans	$	340	$	348	$	215	$	215	$	125	$	133
	Storm costs		63		78		35		43		28		35
	Unamortized loss on debt		26		28		17		18		9		10
	Interest rate swaps		141		122		98		89		43		33
	AROs		143		79		57		28		86		51
	Plant retirement costs		6								6
	Other		8		10		2		4		6		6
Total noncurrent regulatory assets		$	727	$	665	$	424	$	397	$	303	$	268

Current Regulatory Liabilities:
	Demand side management		$	8	$	2	$	4	$	1	$	4	$	1
	Gas supply clause			6		6		6		6
	Fuel adjustment clause			14				2				12
	Gas line tracker					3				3
	Other			4		4		1				3		4
Total current regulatory liabilities			$	32	$	15	$	13	$	10	$	19	$	5

Noncurrent Regulatory Liabilities:
	Accumulated cost of removal
		of utility plant	$	691	$	693	$	301	$	302	$	390	$	391
	Coal contracts (b)			17		59		7		25		10		34
	Power purchase agreement - OVEC (b)			83		92		57		63		26		29
	Net deferred tax assets			23		26		23		24				2
	Defined benefit plans			24		16						24		16
	Interest rate swaps			82		84		41		42		41		42
	Other			3		4		2		2		1		2
Total noncurrent regulatory liabilities			$	923	$	974	$	431	$	458	$	492	$	516