XML 43 R50.htm IDEA: XBRL DOCUMENT  v2.3.0.11
Financing Activities (Credit Arrangements and ST Debt) (Details)
6 Months Ended 6 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 1 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 1 Months Ended
Jun. 30, 2011
PPL Energy Supply Domestic Credit Facilities [Member]
USD ($)
Dec. 31, 2010
PPL Energy Supply Domestic Credit Facilities [Member]
USD ($)
Jun. 30, 2011
PPL Energy Supply Domestic Credit Facilities [Member]
Expired Facility [Member]
Structured Credit Facility [Member]
USD ($)
Dec. 31, 2010
PPL Energy Supply Domestic Credit Facilities [Member]
Expired Facility [Member]
Structured Credit Facility [Member]
USD ($)
Jun. 30, 2011
PPL Energy Supply Domestic Credit Facilities [Member]
Syndicated Credit Facility [Member]
USD ($)
Dec. 31, 2010
PPL Energy Supply Domestic Credit Facilities [Member]
Syndicated Credit Facility [Member]
USD ($)
Jun. 30, 2011
PPL Energy Supply Domestic Credit Facilities [Member]
PPL Energy Supply Securred Trading Facility [Member]
USD ($)
Jun. 30, 2011
PPL Energy Supply Domestic Credit Facilities [Member]
PPL Energy Supply Facility Agreement [Member]
USD ($)
Jun. 30, 2011
PPL Energy Supply Domestic Credit Facilities [Member]
Letter Of Credit Facility [Member]
USD ($)
Dec. 31, 2010
PPL Energy Supply Domestic Credit Facilities [Member]
Letter Of Credit Facility [Member]
USD ($)
Jun. 30, 2011
WPD Credit Facilities [Member]
USD ($)
Jun. 30, 2011
WPD Credit Facilities [Member]
GBP (£)
Dec. 31, 2010
WPD Credit Facilities [Member]
GBP (£)
Jun. 30, 2011
WPD Credit Facilities [Member]
PPL WW Five Year Syndicated Credit Facility [Member]
GBP (£)
Dec. 31, 2010
WPD Credit Facilities [Member]
PPL WW Five Year Syndicated Credit Facility [Member]
GBP (£)
Jun. 30, 2011
WPD Credit Facilities [Member]
PPL WW Five Year Syndicated Credit Facility [Member]
USD Denominated Borrowing [Member]
USD ($)
Jun. 30, 2011
WPD Credit Facilities [Member]
PPL WW Five Year Syndicated Credit Facility [Member]
GBP Denominated Borrowing [Member]
GBP (£)
Jun. 30, 2011
WPD Credit Facilities [Member]
WPD South West 3 Year Syndicated Credit Facility [Member]
GBP (£)
Jun. 30, 2011
WPD Credit Facilities [Member]
Uncommitted Credit Facilities [Member]
GBP (£)
Dec. 31, 2010
WPD Credit Facilities [Member]
Uncommitted Credit Facilities [Member]
GBP (£)
Apr. 30, 2011
WPD Credit Facilities [Member]
WPD East Midlands Syndicated Credit Facility [Member]
GBP (£)
Jun. 30, 2011
WPD Credit Facilities [Member]
WPD East Midlands Syndicated Credit Facility [Member]
GBP (£)
Apr. 30, 2011
WPD Credit Facilities [Member]
WPD West Midlands Syndicated Credit Facility [Member]
GBP (£)
Jun. 30, 2011
WPD Credit Facilities [Member]
WPD West Midlands Syndicated Credit Facility [Member]
GBP (£)
Apr. 30, 2011
WPD Credit Facilities [Member]
WPD (East Midlands) And (West Midlands) Combined Syndicated Credit Facility [Member]
USD ($)
Jun. 30, 2011
PPL Electric Credit Facilities [Member]
USD ($)
Dec. 31, 2010
PPL Electric Credit Facilities [Member]
USD ($)
Jun. 30, 2011
PPL Electric Credit Facilities [Member]
Syndicated Credit Facility [Member]
USD ($)
Dec. 31, 2010
PPL Electric Credit Facilities [Member]
Syndicated Credit Facility [Member]
USD ($)
Jun. 30, 2011
PPL Electric Credit Facilities [Member]
Asset Backed Credit Facility [Member]
USD ($)
Dec. 31, 2010
PPL Electric Credit Facilities [Member]
Asset Backed Credit Facility [Member]
USD ($)
Jun. 30, 2011
LGE Credit Facilities [Member]
USD ($)
Dec. 31, 2010
LGE Credit Facilities [Member]
USD ($)
Jun. 30, 2011
LGE Credit Facilities [Member]
Syndicated Credit Facility [Member]
USD ($)
Dec. 31, 2010
LGE Credit Facilities [Member]
Syndicated Credit Facility [Member]
USD ($)
Jun. 30, 2011
KU Credit Facilities [Member]
USD ($)
Dec. 31, 2010
KU Credit Facilities [Member]
USD ($)
Jun. 30, 2011
KU Credit Facilities [Member]
Syndicated Credit Facility [Member]
USD ($)
Apr. 30, 2011
KU Credit Facilities [Member]
Syndicated Credit Facility [Member]
Dec. 31, 2010
KU Credit Facilities [Member]
Syndicated Credit Facility [Member]
USD ($)
Apr. 30, 2011
KU Credit Facilities [Member]
Letter Of Credit Facility [Member]
Jun. 30, 2011
KU Credit Facilities [Member]
Letter Of Credit Facility [Member]
USD ($)
Jun. 30, 2011
PPL Electric's Commercial Paper [Member]
USD ($)
Jun. 30, 2011
Bridge Loan 2011 [Member]
USD ($)
Jun. 30, 2011
Bridge Loan 2011 [Member]
Expired Short Term Debt Facility [Member]
USD ($)
Jun. 30, 2011
Bridge Loan 2011 [Member]
Expired Short Term Debt Facility [Member]
GBP (£)
Apr. 30, 2011
PPL Capital Funding Bridge Loan [Member]
Expired Short Term Debt Facility [Member]
USD ($)
Apr. 30, 2011
PPL Capital Funding Bridge Loan [Member]
Expired Short Term Debt Facility [Member]
GBP (£)
May 31, 2011
PPL WEM Bridge Loan [Member]
Expired Short Term Debt Facility [Member]
GBP (£)
Apr. 30, 2011
PPL WEM Bridge Loan [Member]
Expired Short Term Debt Facility [Member]
GBP (£)
Credit Arrangements Details [Abstract]                                                                                                    
Expiration date     March 2011   December 2014   November 2015 June 2017 March 2013         January 2013       July 2012       April 2016   April 2016       December 2014   July 2011       December 2014       December 2014       April 2014                
Capacity $ 3,200,000,000 [1]   $ 300,000,000   $ 3,000,000,000   $ 800,000,000   $ 200,000,000     £ 1,073,000,000 [2]   £ 150,000,000       £ 210,000,000 £ 113,000,000     £ 300,000,000 [3]   £ 300,000,000 [3]   $ 350,000,000 [1]   $ 200,000,000   $ 150,000,000 [4]   $ 400,000,000 [1],[5],[6]   $ 400,000,000 [1],[5],[6]   $ 598,000,000 [1],[5]   $ 400,000,000 [6]       $ 198,000,000 [7]                
Borrowed 250,000,000 [1],[8],[9] 350,000,000 [1],[8]     250,000,000 [8],[9] 350,000,000 [8]           113,000,000 [10],[2],[8] 115,000,000 [8] 113,000,000 [10],[8] 115,000,000 [8] 181,000,000 113,000,000                               163,000,000 [1],[5],[8]   163,000,000 [1],[5],[8]                              
Letters of credit issued 177,000,000 [1] 185,000,000 [1]   161,000,000 [11] 122,000,000       55,000,000 24,000,000   144,000,000 [2] 3,000,000           3,000,000 3,000,000   70,000,000 [3]   71,000,000 [3]   13,000,000 [1] 13,000,000 [1] 13,000,000 13,000,000             198,000,000 [1],[5] 198,000,000 [1],[5]     198,000,000   198,000,000 [7]                
Unused capacity 2,773,000,000 [1]       2,628,000,000       145,000,000   1,300,000,000 [2] 816,000,000 [2]   37,000,000       210,000,000 110,000,000     230,000,000 [3]   229,000,000 [3]   337,000,000 [1]   187,000,000   150,000,000 [4]   400,000,000 [1],[5],[6]   400,000,000 [1],[5],[6]   400,000,000 [1],[5]   400,000,000 [6]                        
Maximum amount of letters of credit that may be issued under credit facility                                         80,000,000   80,000,000                                                      
Amount of letter of credit issued that supports this credit facility     300,000,000                                                                                              
Capacity of seperate credit agreement which supports this credit facility     300,000,000                                                                                              
Expiration date of separate credit agreement which supports this credit facility     March 2011                                                                                              
Maximum percentage of debt to total capitalization allowed under the credit facility (in hundredths)                                                                             70.00%                      
Interest rate on outstanding borrowing (in hundredths)                           1.07%                                                                        
Weighted-average interest rate on outstanding borrowings (in hundredths)         2.44%                                                                                          
Accounts receivable pledged under PPL Electric's asset-backed credit facility                                                           274,000,000 248,000,000                                      
Unbilled revenue pledged under PPL Electric's asset-backed credit facility                                                           87,000,000 134,000,000                                      
Potential maximum Facility Agreement capacity               500,000,000                                                                                    
Origination date                                         April 2011   April 2011                                   April 2011                  
Maximum percentage of total net debt to RAV allowed under the credit facility (in hundreths)                                         85.00%   85.00%                                                      
Minimum interest coverage ratio allowed under the credit facility                                         at least 3.0 to 1   at least 3.0 to 1                                                      
Repayments during period                     138,000,000 84,000,000                                                                            
Secured Trading Facility Auto Renewal Term             1                                                                                      
Available capacity under PPL Electric asset-backed credit facility                                                           107,000,000                                        
Deferred fees                                                 7,000,000                                                  
Short-term Debt [Line Items]                                                                                                    
Capacity                                                                                     200,000,000              
Original committed capacity of Bridge Facility                                                                                           3,600,000,000        
Deferred financing costs associated with Bridge Facility                                                                                         43,000,000          
Amortization of Bridge Facility fees, year to date                                                                                       36,000,000            
Interest rate on facility (in hundredths)                                                                                             2.62% 2.62%   2.62%
Libor rates for borrowings                                                                                         one-month LIBOR plus a spread          
Borrowings during period on short-term facility                                                                                               1,750,000,000   1,850,000,000
Repayments during period on short-term facility                                                                                             $ 2,800,000,000 £ 1,750,000,000 £ 1,200,000 £ 650,000,000
Expiration date of credit facility that supports commercial paper program                                                                                     December 2014              
[1] All credit facilities at PPL Energy Supply, PPL Electric, LG&E and KU also apply to PPL on a consolidated basis for financial reporting purposes.
[2] In June 2011, WPD repaid £84 million of short-term debt (which equated to $138 million at the time of repayment) with proceeds received from the issuance of long-term debt. Although financial information of foreign subsidiaries is recorded on a one-month lag, the repayment of short-term debt is reflected in the financial statements for the quarter ended June 30, 2011. See "Long-term Debt and Equity Securities" below for further discussion.         At June 30, 2011, the unused capacity of the WPD credit facilities was approximately $1.3 billion.
[3] In April 2011, following the completion of the acquisition of WPD Midlands, WPD (East Midlands) and WPD (West Midlands) each entered into a £300 million 5-year syndicated credit facility. Under the facilities, WPD (East Midlands) and WPD (West Midlands) each have the ability to make cash borrowings and to request the lenders to issue up to £80 million of letters of credit in lieu of borrowing. Each company pays customary commitment and utilization fees under its respective facility, and borrowings generally bear interest at LIBOR-based rates plus a spread, depending upon the respective company's senior unsecured long-term debt rating. Each credit facility contains financial covenants that require the respective company to maintain an interest coverage ratio of consolidated earnings before interest, income taxes, depreciation and amortization to interest expense of at least 3.0 to 1 and total net debt not in excess of 85% of its RAV, in each case calculated in accordance with the credit facilities. An aggregate of $7 million in fees were incurred in connection with establishing these facilities.
[4] PPL Electric participates in an asset-backed commercial paper program through which PPL Electric obtains financing by selling and contributing its eligible accounts receivable and unbilled revenue to a special purpose, wholly owned subsidiary on an ongoing basis. The subsidiary has pledged these assets to secure loans from a commercial paper conduit sponsored by a financial institution.         At June 30, 2011 and December 31, 2010, $274 million and $248 million of accounts receivable and $87 million and $134 million of unbilled revenue were pledged by the subsidiary under the credit agreement related to PPL Electric's and the subsidiary's participation in the asset-backed commercial paper program. Based on the accounts receivable and unbilled revenue pledged at June 30, 2011, the amount available for borrowing under the facility was limited to $107 million. PPL Electric's sale to its subsidiary of the accounts receivable and unbilled revenue is an absolute sale of assets, and PPL Electric does not retain an interest in these assets. However, for financial reporting purposes, the subsidiary's financial results are consolidated in PPL Electric's financial statements. PPL Electric performs certain record-keeping and cash collection functions with respect to the assets in return for a servicing fee from the subsidiary.         In July 2011, PPL Electric and the subsidiary extended the expiration date of the credit agreement to July 2012.
[5] All credit facilities at LG&E and KU also apply to LKE on a consolidated basis for financial reporting purposes.
[6] In June 2011, these facilities were amended such that the fees and the spreads to benchmark interest rates for borrowings depend upon the respective company's senior secured long-term debt rating rather than the senior unsecured long-term debt rating.
[7] In April 2011, KU entered into a letter of credit facility that has been used to issue letters of credit to support outstanding tax-exempt bonds. The facility contains a financial covenant requiring KU's debt to total capitalization not to exceed 70%, as calculated in accordance with the credit facility. KU pays customary commitment and letter of credit fees under the new facility.
[8] Amounts borrowed are recorded as "Short-term debt" on the Balance Sheets.
[9] The borrowing outstanding at June 30, 2011 bears interest at 2.44%.
[10] The borrowing outstanding at June 30, 2011 was a USD-denominated borrowing of $181 million, which equated to £113 million at the time of borrowing and bore interest at approximately 1.07%.
[11] In March 2011, PPL Energy Supply's $300 million Structured Credit Facility expired. PPL Energy Supply's obligations under this facility were supported by a $300 million letter of credit issued on PPL Energy Supply's behalf under a separate but related $300 million 5-year credit agreement, which also expired in March 2011.