Utility Rate Regulation (Tables)

3 Months Ended

Mar. 31, 2020

Utility Rate Regulation [Line Items]

Regulatory Assets and Liabilities

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

	PPL				PPL Electric
	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019
Current Regulatory Assets:
Plant outage costs	$	44	$	32	$	—	$	—
Gas supply clause	5		8		—		—
Smart meter rider	15		13		15		13
Transmission formula rate	—		—		3		3
Transmission service charge	5		10		5		10
Other	6		4		—		—
Total current regulatory assets (a)	$	75	$	67	$	23	$	26
Noncurrent Regulatory Assets:
Defined benefit plans	$	788	$	800	$	460	$	467
Storm costs	34		39		12		15
Unamortized loss on debt	37		41		15		18
Interest rate swaps	29		22		—		—
Terminated interest rate swaps	80		81		—		—
Accumulated cost of removal of utility plant	222		220		222		220
AROs	282		279		—		—
Act 129 compliance rider	—		6		—		6
Other	5		4		1		—
Total noncurrent regulatory assets	$	1,477	$	1,492	$	710	$	726

	PPL				PPL Electric
	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019
Current Regulatory Liabilities:
Generation supply charge	$	24	$	23	$	24	$	23
Environmental cost recovery	4		5		—		—
Universal service rider	5		9		5		9
Fuel adjustment clause	6		8		—		—
TCJA customer refund	46		61		46		59
Storm damage expense rider	8		5		8		5
Other	6		4		—		—
Total current regulatory liabilities	$	99	$	115	$	83	$	96
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	640	$	640	$	—	$	—
Power purchase agreement - OVEC	49		51		—		—
Net deferred taxes	1,739		1,756		580		588
Defined benefit plans	53		51		13		11
Terminated interest rate swaps	68		68		—		—
Act 129 compliance rider	—		—		2		—
Other	8		6		—		—
Total noncurrent regulatory liabilities	$	2,557	$	2,572	$	595	$	599

	LKE				LG&E				KU
	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019
Current Regulatory Assets:
Plant outage costs	$	44	$	32	$	18	$	16	$	26	$	16
Gas supply clause	5		8		5		8		—		—
Other	3		1		3		1		—		—
Total current regulatory assets	$	52	$	41	$	26	$	25	$	26	$	16
Noncurrent Regulatory Assets:
Defined benefit plans	$	328	$	333	$	202	$	206	$	126	$	127
Storm costs	22		24		14		14		8		10
Unamortized loss on debt	22		23		13		14		9		9
Interest rate swaps	29		22		29		22		—		—
Terminated interest rate swaps	80		81		47		47		33		34
AROs	282		279		77		76		205		203
Other	4		4		1		1		3		3
Total noncurrent regulatory assets	$	767	$	766	$	383	$	380	$	384	$	386

	LKE				LG&E				KU
	March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019		March 31, 2020		December 31, 2019
Current Regulatory Liabilities:
Environmental cost recovery	$	4	$	5	$	—	$	1	$	4	$	4
Demand side management	2		3		1		1		1		2
Fuel adjustment clause	6		8		—		—		6		8
Other	4		3		—		—		4		3
Total current regulatory liabilities	$	16	$	19	$	1	$	2	$	15	$	17
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	640	$	640	$	267	$	266	$	373	$	374
Power purchase agreement - OVEC	49		51		34		35		15		16
Net deferred taxes	1,159		1,168		540		544		619		624
Defined benefit plans	40		40		—		—		40		40
Terminated interest rate swaps	68		68		34		34		34		34
Other	6		6		4		4		2		2
Total noncurrent regulatory liabilities	$	1,962	$	1,973	$	879	$	883	$	1,083	$	1,090

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