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Utility Rate Regulation (Tables) | 6 Months Ended
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Jun. 30, 2017
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, 2017 |  | December 31, 2016 |  | June 30, 2017 |  | December 31, 2016
Current Regulatory Assets: |  |  |  |  |  |  |
Environmental cost recovery | $ | 6 |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |
Generation formula rate | 10 |  |  | 11 |  |  | — |  |  | — |
Transmission service charge | — |  |  | 7 |  |  | — |  |  | 7 |
Gas supply clause | 7 |  |  | 3 |  |  | — |  |  | — |
Smart meter rider | 10 |  |  | 6 |  |  | 10 |  |  | 6 |
Storm costs | 3 |  |  | 5 |  |  | 3 |  |  | 5 |
Other | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Total current regulatory assets (a) | $ | 37 |  |  | $ | 39 |  |  | $ | 14 |  |  | $ | 19 |
Noncurrent Regulatory Assets: |  |  |  |  |  |  |
Defined benefit plans | $ | 920 |  |  | $ | 947 |  |  | $ | 537 |  |  | $ | 549 |
Taxes recoverable through future rates | 345 |  |  | 340 |  |  | 345 |  |  | 340 |
Storm costs | 40 |  |  | 58 |  |  | — |  |  | 10 |
Unamortized loss on debt | 57 |  |  | 61 |  |  | 32 |  |  | 36 |
Interest rate swaps | 124 |  |  | 129 |  |  | — |  |  | — |
Accumulated cost of removal of utility plant | 162 |  |  | 159 |  |  | 162 |  |  | 159 |
AROs | 245 |  |  | 211 |  |  | — |  |  | — |
Other | 13 |  |  | 13 |  |  | — |  |  | — |
Total noncurrent regulatory assets | $ | 1,906 |  |  | $ | 1,918 |  |  | $ | 1,076 |  |  | $ | 1,094 |
| PPL |  | PPL Electric
| June 30, 2017 |  | December 31, 2016 |  | June 30, 2017 |  | December 31, 2016
Current Regulatory Liabilities: |  |  |  |  |  |  |
Generation supply charge | $ | 19 |  |  | $ | 23 |  |  | $ | 19 |  |  | $ | 23 |
Transmission service charge | 6 |  |  | — |  |  | 6 |  |  | — |
Universal service rider | 14 |  |  | 14 |  |  | 14 |  |  | 14 |
Transmission formula rate | 3 |  |  | 15 |  |  | 3 |  |  | 15 |
Fuel adjustment clause | 13 |  |  | 11 |  |  | — |  |  | — |
Act 129 compliance rider | 11 |  |  | 17 |  |  | 11 |  |  | 17 |
Storm damage expense | 4 |  |  | 13 |  |  | 4 |  |  | 13 |
Other | 1 |  |  | 8 |  |  | — |  |  | 1 |
Total current regulatory liabilities | $ | 71 |  |  | $ | 101 |  |  | $ | 57 |  |  | $ | 83 |
Noncurrent Regulatory Liabilities: |  |  |  |  |  |  |
Accumulated cost of removal of utility plant | $ | 703 |  |  | $ | 700 |  |  | $ | — |  |  | $ | — |
Power purchase agreement - OVEC (b) | 72 |  |  | 75 |  |  | — |  |  | — |
Net deferred tax assets | 21 |  |  | 23 |  |  | — |  |  | — |
Defined benefit plans | 27 |  |  | 23 |  |  | — |  |  | — |
Interest rate swaps | 76 |  |  | 78 |  |  | — |  |  | — |
Other | 3 |  |  | — |  |  | — |  |  | — |
Total noncurrent regulatory liabilities | $ | 902 |  |  | $ | 899 |  |  | $ | — |  |  | $ | — |
| LKE |  | LG&E |  | KU
| June 30, 2017 |  | December 31, 2016 |  | June 30, 2017 |  | December 31, 2016 |  | June 30, 2017 |  | December 31, 2016
Current Regulatory Assets: |  |  |  |  |  |  |  |  |  |  |
Environmental cost recovery | $ | 6 |  |  | $ | 6 |  |  | $ | 4 |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | — |
Generation formula rate | 10 |  |  | 11 |  |  | — |  |  | — |  |  | 10 |  |  | 11 |
Gas supply clause | 7 |  |  | 3 |  |  | 7 |  |  | 3 |  |  | — |  |  | — |
Total current regulatory assets | $ | 23 |  |  | $ | 20 |  |  | $ | 11 |  |  | $ | 9 |  |  | $ | 12 |  |  | $ | 11 |
Noncurrent Regulatory Assets: |  |  |  |  |  |  |  |  |  |  |
Defined benefit plans | $ | 383 |  |  | $ | 398 |  |  | $ | 238 |  |  | $ | 246 |  |  | $ | 145 |  |  | $ | 152 |
Storm costs | 40 |  |  | 48 |  |  | 22 |  |  | 26 |  |  | 18 |  |  | 22 |
Unamortized loss on debt | 25 |  |  | 25 |  |  | 16 |  |  | 16 |  |  | 9 |  |  | 9 |
Interest rate swaps | 124 |  |  | 129 |  |  | 85 |  |  | 88 |  |  | 39 |  |  | 41 |
AROs | 245 |  |  | 211 |  |  | 84 |  |  | 70 |  |  | 161 |  |  | 141 |
Plant retirement costs | 3 |  |  | 4 |  |  | — |  |  | — |  |  | 3 |  |  | 4 |
Other | 10 |  |  | 9 |  |  | 4 |  |  | 4 |  |  | 6 |  |  | 5 |
Total noncurrent regulatory assets | $ | 830 |  |  | $ | 824 |  |  | $ | 449 |  |  | $ | 450 |  |  | $ | 381 |  |  | $ | 374 |
| LKE |  | LG&E |  | KU
| June 30, 2017 |  | December 31, 2016 |  | June 30, 2017 |  | December 31, 2016 |  | June 30, 2017 |  | December 31, 2016
Current Regulatory Liabilities: |  |  |  |  |  |  |  |  |  |  |
Demand side management | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 1 |
Fuel adjustment clause | 13 |  |  | 11 |  |  | 4 |  |  | 2 |  |  | 9 |  |  | 9 |
Other | 1 |  |  | 4 |  |  | — |  |  | 1 |  |  | 1 |  |  | 3 |
Total current regulatory liabilities | $ | 14 |  |  | $ | 18 |  |  | $ | 4 |  |  | $ | 5 |  |  | $ | 10 |  |  | $ | 13 |
Noncurrent Regulatory Liabilities: |  |  |  |  |  |  |  |  |  |  |
Accumulated cost of removal of utility plant | $ | 703 |  |  | $ | 700 |  |  | $ | 308 |  |  | $ | 305 |  |  | $ | 395 |  |  | $ | 395 |
Power purchase agreement - OVEC (b) | 72 |  |  | 75 |  |  | 50 |  |  | 52 |  |  | 22 |  |  | 23 |
Net deferred tax assets | 21 |  |  | 23 |  |  | 21 |  |  | 23 |  |  | — |  |  | — |
Defined benefit plans | 27 |  |  | 23 |  |  | — |  |  | — |  |  | 27 |  |  | 23 |
Interest rate swaps | 76 |  |  | 78 |  |  | 38 |  |  | 39 |  |  | 38 |  |  | 39 |
Other | 3 |  |  | — |  |  | 1 |  |  | — |  |  | 2 |  |  | — |
Total noncurrent regulatory liabilities | $ | 902 |  |  | $ | 899 |  |  | $ | 418 |  |  | $ | 419 |  |  | $ | 484 |  |  | $ | 480 |
(a) | For PPL, these amounts are included in "Other current assets" on the Balance Sheets.
(b) | This liability was recorded as an offset to an intangible asset that was recorded at fair value upon the acquisition of LKE by PPL.

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- Definition Tabular disclosure of assets and liabilities that are created when regulatory agencies permit public utilities to defer certain costs included in rate-setting to the balance sheet. + References No definition available. + Details
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