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Utility Rate Regulation (Tables) | 6 Months Ended
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Jun. 30, 2018
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, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017
Current Regulatory Assets: |  |  |  |  |  |  |
Environmental cost recovery | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |
Generation formula rate | — |  |  | 6 |  |  | — |  |  | — |
Smart meter rider | 15 |  |  | 15 |  |  | 15 |  |  | 15 |
Plant outage costs | 6 |  |  | 3 |  |  | — |  |  | — |
Gas supply clause | 5 |  |  | 4 |  |  | — |  |  | — |
Other | 1 |  |  | 1 |  |  | 1 |  |  | 1 |
Total current regulatory assets (a) | $ | 27 |  |  | $ | 34 |  |  | $ | 16 |  |  | $ | 16 |
Noncurrent Regulatory Assets: |  |  |  |  |  |  |
Defined benefit plans | $ | 857 |  |  | $ | 880 |  |  | $ | 491 |  |  | $ | 504 |
Taxes recoverable through future rates | 3 |  |  | 3 |  |  | 3 |  |  | 3 |
Storm costs (b) | 47 |  |  | 33 |  |  | 21 |  |  | — |
Unamortized loss on debt | 49 |  |  | 54 |  |  | 25 |  |  | 29 |
Interest rate swaps | 21 |  |  | 26 |  |  | — |  |  | — |
Terminated interest rate swaps | 89 |  |  | 92 |  |  | — |  |  | — |
Accumulated cost of removal of utility plant | 182 |  |  | 173 |  |  | 182 |  |  | 173 |
AROs | 260 |  |  | 234 |  |  | — |  |  | — |
Act 129 compliance rider | 15 |  |  | — |  |  | 15 |  |  | — |
Other | 7 |  |  | 9 |  |  | — |  |  | — |
Total noncurrent regulatory assets | $ | 1,530 |  |  | $ | 1,504 |  |  | $ | 737 |  |  | $ | 709 |
| PPL |  | PPL Electric
| June 30, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017
Current Regulatory Liabilities: |  |  |  |  |  |  |
Generation supply charge | $ | 30 |  |  | $ | 34 |  |  | $ | 30 |  |  | $ | 34 |
Transmission service charge | 4 |  |  | 9 |  |  | 4 |  |  | 9 |
Environmental cost recovery | 25 |  |  | 1 |  |  | — |  |  | — |
Universal service rider | 20 |  |  | 26 |  |  | 20 |  |  | 26 |
Transmission formula rate | 11 |  |  | 9 |  |  | 11 |  |  | 9 |
Fuel adjustment clause | 5 |  |  | 3 |  |  | — |  |  | — |
TCJA customer refund (c) | 33 |  |  | — |  |  | — |  |  | — |
Storm damage expense rider | 1 |  |  | 8 |  |  | 1 |  |  | 8 |
Other | 8 |  |  | 5 |  |  | — |  |  | — |
Total current regulatory liabilities | $ | 137 |  |  | $ | 95 |  |  | $ | 66 |  |  | $ | 86 |
Noncurrent Regulatory Liabilities: |  |  |  |  |  |  |
Accumulated cost of removal of utility plant | $ | 678 |  |  | $ | 677 |  |  | $ | — |  |  | $ | — |
Power purchase agreement - OVEC (d) | 64 |  |  | 68 |  |  | — |  |  | — |
Net deferred taxes (e) | 1,858 |  |  | 1,853 |  |  | 652 |  |  | 668 |
Defined benefit plans | 31 |  |  | 27 |  |  | — |  |  | — |
Terminated interest rate swaps | 72 |  |  | 74 |  |  | — |  |  | — |
TCJA customer refund (f) | 37 |  |  | — |  |  | 37 |  |  | — |
Other | 7 |  |  | 5 |  |  | 3 |  |  | — |
Total noncurrent regulatory liabilities | $ | 2,747 |  |  | $ | 2,704 |  |  | $ | 692 |  |  | $ | 668 |
| LKE |  | LG&E |  | KU
| June 30, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017
Current Regulatory Assets: |  |  |  |  |  |  |  |  |  |  |
Environmental cost recovery | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |
Generation formula rate | — |  |  | 6 |  |  | — |  |  | — |  |  | — |  |  | 6 |
Plant outage costs | 6 |  |  | 3 |  |  | 6 |  |  | 3 |  |  | — |  |  | — |
Gas supply clause | 5 |  |  | 4 |  |  | 5 |  |  | 4 |  |  | — |  |  | — |
Total current regulatory assets | $ | 11 |  |  | $ | 18 |  |  | $ | 11 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 6 |
Noncurrent Regulatory Assets: |  |  |  |  |  |  |  |  |  |  |
Defined benefit plans | $ | 366 |  |  | $ | 376 |  |  | $ | 231 |  |  | $ | 234 |  |  | $ | 135 |  |  | $ | 142 |
Storm costs | 26 |  |  | 33 |  |  | 14 |  |  | 18 |  |  | 12 |  |  | 15 |
Unamortized loss on debt | 24 |  |  | 25 |  |  | 15 |  |  | 16 |  |  | 9 |  |  | 9 |
Interest rate swaps | 21 |  |  | 26 |  |  | 21 |  |  | 26 |  |  | — |  |  | — |
Terminated interest rate swaps | 89 |  |  | 92 |  |  | 52 |  |  | 54 |  |  | 37 |  |  | 38 |
AROs | 260 |  |  | 234 |  |  | 71 |  |  | 61 |  |  | 189 |  |  | 173 |
Other | 7 |  |  | 9 |  |  | 2 |  |  | 2 |  |  | 5 |  |  | 7 |
Total noncurrent regulatory assets | $ | 793 |  |  | $ | 795 |  |  | $ | 406 |  |  | $ | 411 |  |  | $ | 387 |  |  | $ | 384 |
| LKE |  | LG&E |  | KU
| June 30, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017 |  | June 30, 2018 |  | December 31, 2017
Current Regulatory Liabilities: |  |  |  |  |  |  |  |  |  |  |
Environmental cost recovery | $ | 25 |  |  | $ | 1 |  |  | $ | 14 |  |  | $ | — |  |  | $ | 11 |  |  | $ | 1 |
Fuel adjustment clause | 5 |  |  | 3 |  |  | 1 |  |  | — |  |  | 4 |  |  | 3 |
Gas line tracker | 2 |  |  | 3 |  |  | 2 |  |  | 3 |  |  | — |  |  | — |
TCJA customer refund (c) | 33 |  |  | — |  |  | 15 |  |  | — |  |  | 18 |  |  | — |
Other | 6 |  |  | 2 |  |  | 2 |  |  | — |  |  | 4 |  |  | 2 |
Total current regulatory liabilities | $ | 71 |  |  | $ | 9 |  |  | $ | 34 |  |  | $ | 3 |  |  | $ | 37 |  |  | $ | 6 |
Noncurrent Regulatory Liabilities: |  |  |  |  |  |  |  |  |  |  |
Accumulated cost of removal of utility plant | $ | 678 |  |  | $ | 677 |  |  | $ | 280 |  |  | $ | 282 |  |  | $ | 398 |  |  | 395 |
Power purchase agreement - OVEC (d) | 64 |  |  | 68 |  |  | 44 |  |  | 47 |  |  | 20 |  |  | 21 |
Net deferred taxes (e) | 1,206 |  |  | 1,185 |  |  | 561 |  |  | 552 |  |  | 645 |  |  | 633 |
Defined benefit plans | 31 |  |  | 27 |  |  | — |  |  | — |  |  | 31 |  |  | 27 |
Terminated interest rate swaps | 72 |  |  | 74 |  |  | 36 |  |  | 37 |  |  | 36 |  |  | 37 |
Other | 4 |  |  | 5 |  |  | 1 |  |  | 1 |  |  | 3 |  |  | 4 |
Total noncurrent regulatory liabilities | $ | 2,055 |  |  | $ | 2,036 |  |  | $ | 922 |  |  | $ | 919 |  |  | $ | 1,133 |  |  | $ | 1,117 |
(a) | For PPL, these amounts are included in "Other current assets" on the Balance Sheets.
(b) | Storm costs incurred in PPL Electric's territory from a March 2018 storm will be amortized from 2019 through 2021.
(c) | Relates to estimated amounts owed to LG&E and KU customers as a result of the reduced U.S. federal corporate income tax rate as enacted by the TCJA, effective January 1, 2018. Amounts owed will be distributed through the TCJA bill credit.
(d) | This liability was recorded as an offset to an intangible asset that was recorded at fair value upon the acquisition of LKE by PPL.
(e) | Primarily relates to excess deferred taxes recorded as a result of the TCJA, which reduced the U.S. federal corporate income tax rate effective January 1, 2018, requiring deferred tax balances and the associated regulatory liabilities to be remeasured as of December 31, 2017. LG&E and KU began distributing amounts through the TCJA bill credit effective April 1, 2018.
(f) | Relates to amounts owed to PPL Electric customers as a result of the reduced U.S. federal corporate income tax rate as enacted by the TCJA, for the period of January 1, 2018 through June 30, 2018 which is not yet reflected in customer rates. The distribution method back to customers of this liability must be proposed to the PUC at the earlier of May 2021 or PPL Electric’s next rate case.

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