Utility Rate Regulation (Tables)

12 Months Ended

Dec. 31, 2019

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
	2019		2018		2019		2018
Current Regulatory Assets:
Gas supply clause	$	8	$	12	$	—	$	—
Smart meter rider	13		11		13		11
Plant outage costs	32		10		—		—
Transmission formula rate	—		—		3		—
Transmission service charge	10		—		10		—
Other	4		3		—		—
Total current regulatory assets (a)	$	67	$	36	$	26	$	11
Noncurrent Regulatory Assets:
Defined benefit plans	$	800	$	963	$	467	$	558
Storm costs	39		56		15		22
Unamortized loss on debt	41		45		18		22
Interest rate swaps	22		20		—		—
Terminated interest rate swaps	81		87		—		—
Accumulated cost of removal of utility plant	220		200		220		200
AROs	279		273		—		—
Act 129 compliance rider	6		19		6		19
Other	4		10		—		3
Total noncurrent regulatory assets	$	1,492	$	1,673	$	726	$	824

	PPL				PPL Electric
	2019		2018		2019		2018
Current Regulatory Liabilities:
Generation supply charge	$	23	$	33	$	23	$	33
Transmission service charge	—		—		—		3
Environmental cost recovery	5		16		—		—
Universal service rider	9		27		9		27
Transmission formula rate	—		—		—		3
Fuel adjustment clause	8		—		—		—
TCJA customer refund	61		20		59		3
Storm damage expense rider	5		5		5		5
Generation formula rate	1		7		—		—
Other	3		14		—		—
Total current regulatory liabilities	$	115	$	122	$	96	$	74
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	640	$	674	$	—	$	—
Power purchase agreement - OVEC	51		59		—		—
Net deferred taxes	1,756		1,826		588		629
Defined benefit plans	51		37		11		5
Terminated interest rate swaps	68		72		—		—
TCJA customer refund	—		41		—		41
Other	6		5		—		—
Total noncurrent regulatory liabilities	$	2,572	$	2,714	$	599	$	675

	LKE				LG&E				KU
	2019		2018		2019		2018		2019		2018
Current Regulatory Assets:
Plant outage costs	$	32	$	10	$	16	$	7	$	16	$	3
Gas supply clause	8		12		8		12		—		—
Other	1		3		1		2		—		1
Total current regulatory assets	$	41	$	25	$	25	$	21	$	16	$	4
Noncurrent Regulatory Assets:
Defined benefit plans	$	333	$	405	$	206	$	249	$	127	$	156
Storm costs	24		34		14		20		10		14
Unamortized loss on debt	23		23		14		15		9		8
Interest rate swaps	22		20		22		20		—		—
Terminated interest rate swaps	81		87		47		51		34		36
AROs	279		273		76		75		203		198
Other	4		7		1		1		3		6
Total noncurrent regulatory assets	$	766	$	849	$	380	$	431	$	386	$	418

	LKE				LG&E				KU
	2019		2018		2019		2018		2019		2018
Current Regulatory Liabilities:
Environmental cost recovery	$	5	$	16	$	1	$	6	$	4	$	10
Fuel adjustment clauses	8		—		—		—		8		—
TCJA customer refund	2		17		—		7		2		10
Generation formula rate	1		7		—		—		1		7
Other	3		8		1		4		2		4
Total current regulatory liabilities	$	19	$	48	$	2	$	17	$	17	$	31
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	640	$	674	$	266	$	279	$	374	$	395
Power purchase agreement - OVEC	51		59		35		41		16		18
Net deferred taxes	1,168		1,197		544		557		624		640
Defined benefit plans	40		32		—		—		40		32
Terminated interest rate swaps	68		72		34		36		34		36
Other	6		5		4		2		2		3
Total noncurrent regulatory liabilities	$	1,973	$	2,039	$	883	$	915	$	1,090	$	1,124

(a)

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