Utility Rate Regulation (Tables)

9 Months Ended

Sep. 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
	September 30, 2020		December 31, 2019		September 30, 2020		December 31, 2019
Current Regulatory Assets:
Plant outage costs	$	44	$	32	$	—	$	—
Gas supply clause	4		8		—		—
Smart meter rider	17		13		17		13
Transmission formula rate	9		3		9		3
Transmission service charge	2		10		2		10
Other	6		1		—		—
Total current regulatory assets (a)	$	82	$	67	$	28	$	26
Noncurrent Regulatory Assets:
Defined benefit plans	$	750	$	800	$	450	$	467
Storm costs	27		39		9		15
Unamortized loss on debt	33		41		11		18
Interest rate swaps	26		22		—		—
Terminated interest rate swaps	77		81		—		—
Accumulated cost of removal of utility plant	237		220		237		220
AROs	297		279		—		—
Act 129 compliance rider	—		6		—		6
Other	3		4		1		—
Total noncurrent regulatory assets	$	1,450	$	1,492	$	708	$	726

	PPL				PPL Electric
	September 30, 2020		December 31, 2019		September 30, 2020		December 31, 2019
Current Regulatory Liabilities:
Generation supply charge	$	23	$	23	$	23	$	23
Environmental cost recovery	6		5		—		—
Universal service rider	14		9		14		9
Fuel adjustment clause	8		8		—		—
TCJA customer refund	21		61		21		59
Storm damage expense rider	7		5		7		5
Act 129 compliance rider	8		—		8		—
Other	3		4		—		—
Total current regulatory liabilities	$	90	$	115	$	73	$	96
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	648	$	640	$	—	$	—
Power purchase agreement - OVEC	45		51		—		—
Net deferred taxes	1,705		1,756		565		588
Defined benefit plans	59		51		17		11
Terminated interest rate swaps	66		68		—		—
Other	20		6		—		—
Total noncurrent regulatory liabilities	$	2,543	$	2,572	$	582	$	599

	LKE				LG&E				KU
	September 30, 2020		December 31, 2019		September 30, 2020		December 31, 2019		September 30, 2020		December 31, 2019
Current Regulatory Assets:
Plant outage costs	$	44	$	32	$	14	$	16	$	30	$	16
Gas supply clause	4		8		4		8		—		—
Other	6		1		5		1		1		—
Total current regulatory assets	$	54	$	41	$	23	$	25	$	31	$	16
Noncurrent Regulatory Assets:
Defined benefit plans	$	300	$	333	$	179	$	206	$	121	$	127
Storm costs	18		24		11		14		7		10
Unamortized loss on debt	22		23		13		14		9		9
Interest rate swaps	26		22		26		22		—		—
Terminated interest rate swaps	77		81		45		47		32		34
AROs	297		279		85		76		212		203
Other	2		4		1		1		1		3
Total noncurrent regulatory assets	$	742	$	766	$	360	$	380	$	382	$	386

	LKE				LG&E				KU
	September 30, 2020		December 31, 2019		September 30, 2020		December 31, 2019		September 30, 2020		December 31, 2019
Current Regulatory Liabilities:
Environmental cost recovery	$	6	$	5	$	2	$	1	$	4	$	4
Demand side management	2		3		1		1		1		2
Fuel adjustment clause	8		8		2		—		6		8
Other	1		3		—		—		1		3
Total current regulatory liabilities	$	17	$	19	$	5	$	2	$	12	$	17
Noncurrent Regulatory Liabilities:
Accumulated cost of removal of utility plant	$	648	$	640	$	271	$	266	$	377	$	374
Power purchase agreement - OVEC	45		51		31		35		14		16
Net deferred taxes	1,140		1,168		532		544		608		624
Defined benefit plans	42		40		—		—		42		40
Terminated interest rate swaps	66		68		33		34		33		34
Other	20		6		18		4		2		2
Total noncurrent regulatory liabilities	$	1,961	$	1,973	$	885	$	883	$	1,076	$	1,090

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