Utility Rate Regulation (Tables)

6 Months Ended

Jun. 30, 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
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Current Regulatory Assets:
Plant outage costs	$	41	$	32	$	—	$	—
Gas supply clause	4		8		—		—
Smart meter rider	17		13		17		13
Transmission formula rate	4		3		4		3
Transmission service charge	10		10		10		10
Other	6		1		—		—
Total current regulatory assets (a)	$	82	$	67	$	31	$	26

	PPL				PPL Electric
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Noncurrent Regulatory Assets:
Defined benefit plans	$	779	$	800	$	452	$	467
Storm costs	31		39		11		15
Unamortized loss on debt	35		41		13		18
Interest rate swaps	28		22		—		—
Terminated interest rate swaps	78		81		—		—
Accumulated cost of removal of utility plant	230		220		230		220
AROs	287		279		—		—
Act 129 compliance rider	—		6		—		6
Other	4		4		—		—
Total noncurrent regulatory assets	$	1,472	$	1,492	$	706	$	726

	PPL				PPL Electric
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Current Regulatory Liabilities:
Generation supply charge	$	23	$	23	$	23	$	23
Environmental cost recovery	1		5		—		—
Universal service rider	7		9		7		9
Fuel adjustment clause	8		8		—		—
TCJA customer refund	28		61		28		59
Storm damage expense rider	8		5		8		5
Act 129 compliance rider	6		—		6		—
Other	5		4		—		—
Total current regulatory liabilities	$	86	$	115	$	72	$	96
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	643	$	640	$	—	$	—
Power purchase agreement - OVEC	47		51		—		—
Net deferred taxes	1,722		1,756		572		588
Defined benefit plans	55		51		14		11
Terminated interest rate swaps	68		68		—		—
Other	4		6		—		—
Total noncurrent regulatory liabilities	$	2,539	$	2,572	$	586	$	599

	LKE				LG&E				KU
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Current Regulatory Assets:
Plant outage costs	$	41	$	32	$	14	$	16	$	27	$	16
Gas supply clause	4		8		4		8		—		—
Other	6		1		5		1		1		—
Total current regulatory assets	$	51	$	41	$	23	$	25	$	28	$	16

	LKE				LG&E				KU
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Noncurrent Regulatory Assets:
Defined benefit plans	$	327	$	333	$	199	$	206	$	128	$	127
Storm costs	20		24		12		14		8		10
Unamortized loss on debt	22		23		13		14		9		9
Interest rate swaps	28		22		28		22		—		—
Terminated interest rate swaps	78		81		46		47		32		34
AROs	287		279		79		76		208		203
Other	4		4		1		1		3		3
Total noncurrent regulatory assets	$	766	$	766	$	378	$	380	$	388	$	386

	LKE				LG&E				KU
	June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019		June 30, 2020		December 31, 2019
Current Regulatory Liabilities:
Environmental cost recovery	$	1	$	5	$	—	$	1	$	1	$	4
Demand side management	3		3		1		1		2		2
Fuel adjustment clause	8		8		3		—		5		8
Other	2		3		—		—		2		3
Total current regulatory liabilities	$	14	$	19	$	4	$	2	$	10	$	17
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	643	$	640	$	271	$	266	$	372	$	374
Power purchase agreement - OVEC	47		51		33		35		14		16
Net deferred taxes	1,150		1,168		537		544		613		624
Defined benefit plans	41		40		—		—		41		40
Terminated interest rate swaps	68		68		34		34		34		34
Other	4		6		2		4		2		2
Total noncurrent regulatory liabilities	$	1,953	$	1,973	$	877	$	883	$	1,076	$	1,090

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