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



	PPL				PPL Electric
	2017		2016		2017		2016
Current Regulatory Assets:
Environmental cost recovery	$	5	$	6	$	—	$	—
Generation formula rate	6		11		—		—
Transmission service charge	—		7		—		7
Gas supply clause	4		3		—		—
Smart meter rider	15		6		15		6
Storm costs	—		5		—		5
Other	4		1		1		1
Total current regulatory assets (a)	$	34	$	39	$	16	$	19

Noncurrent Regulatory Assets:
Defined benefit plans	$	880	$	947	$	504	$	549
Taxes recoverable through future rates	3		340		3		340
Storm costs	33		57		—		9
Unamortized loss on debt	54		61		29		36
Interest rate swaps	26		31		—		—
Terminated interest rate swaps	92		98		—		—
Accumulated cost of removal of utility plant	173		159		173		159
AROs	234		211		—		—
Other	9		14		—		1
Total noncurrent regulatory assets	$	1,504	$	1,918	$	709	$	1,094



Current Regulatory Liabilities:
Generation supply charge	$	34	$	23	$	34	$	23
Transmission service charge	9		—		9		—
Universal service rider	26		14		26		14
Transmission formula rate	9		15		9		15
Fuel adjustment clauses	3		11		—		—
Act 129 compliance rider	—		17		—		17
Storm damage expense rider	8		13		8		13
Other	6		8		—		1
Total current regulatory liabilities	$	95	$	101	$	86	$	83

Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	677	$	700	$	—	$	—
Power purchase agreement - OVEC (b)	68		75		—		—
Net deferred taxes (c)	1,853		23		668		—
Defined benefit plans	27		23		—		—
Terminated interest rate swaps	74		78		—		—
Other	5		—		—		—
Total noncurrent regulatory liabilities	$	2,704	$	899	$	668	$	—



	LKE				LG&E				KU
	2017		2016		2017		2016		2017		2016
Current Regulatory Assets:
Environmental cost recovery	$	5	$	6	$	5	$	6	$	—	$	—
Generation formula rate	6		11		—		—		6		11
Gas supply clause	4		3		4		3		—		—
Other	3		—		3		—		—		—
Total current regulatory assets	$	18	$	20	$	12	$	9	$	6	$	11



	LKE				LG&E				KU
	2017		2016		2017		2016		2017		2016

Noncurrent Regulatory Assets:
Defined benefit plans	$	376	$	398	$	234	$	246	$	142	$	152
Storm costs	33		48		18		26		15		22
Unamortized loss on debt	25		25		16		16		9		9
Interest rate swaps	26		31		26		31		—		—
Terminated interest rate swaps	92		98		54		57		38		41
AROs	234		211		61		70		173		141
Other	9		13		2		4		7		9
Total noncurrent regulatory assets	$	795	$	824	$	411	$	450	$	384	$	374



Current Regulatory Liabilities:
Demand side management	$	—	$	3	$	—	$	2	$	—	$	1
Fuel adjustment clause	3		11		—		2		3		9
Gas line tracker	3		—		3		—		—		—
Other	3		4		—		1		3		3
Total current regulatory liabilities	$	9	$	18	$	3	$	5	$	6	$	13

Noncurrent Regulatory Liabilities:
Accumulated cost of removal
of utility plant	$	677	$	700	$	282	$	305	$	395	$	395
Power purchase agreement - OVEC (b)	68		75		47		52		21		23
Net deferred taxes (c)	1,185		23		552		23		633		—
Defined benefit plans	27		23		—		—		27		23
Terminated interest rate swaps	74		78		37		39		37		39
Other	5		—		1		—		4		—
Total noncurrent regulatory liabilities	$	2,036	$	899	$	919	$	419	$	1,117	$	480


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


(b)	This liability was recorded as an offset to an intangible asset that was recorded at fair value upon the acquisition of LKE by PPL.


(c)	Primarily relates to excess deferred taxes recorded as a result of the TCJA, which lowered the federal corporate income tax rate effective January 1, 2018 requiring deferred tax balances and the associated regulatory liabilities to be remeasured as of December 31, 2017.