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Utility Rate Regulation (Tables) | 6 Months Ended
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Jun. 30, 2019
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, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018
Current Regulatory Assets: |  |  |  |  |  |  |
Gas supply clause | $ | 12 |  |  | $ | 12 |  |  | $ | — |  |  | $ | — |
Smart meter rider | 11 |  |  | 11 |  |  | 11 |  |  | 11 |
Plant outage costs | 13 |  |  | 10 |  |  | — |  |  | — |
Other | 7 |  |  | 3 |  |  | 6 |  |  | — |
Total current regulatory assets (a) | $ | 43 |  |  | $ | 36 |  |  | $ | 17 |  |  | $ | 11 |
Noncurrent Regulatory Assets: |  |  |  |  |  |  |
Defined benefit plans | $ | 944 |  |  | $ | 963 |  |  | $ | 548 |  |  | $ | 558 |
Storm costs | 46 |  |  | 56 |  |  | 18 |  |  | 22 |
Unamortized loss on debt | 40 |  |  | 45 |  |  | 18 |  |  | 22 |
Interest rate swaps | 23 |  |  | 20 |  |  | — |  |  | — |
Terminated interest rate swaps | 84 |  |  | 87 |  |  | — |  |  | — |
Accumulated cost of removal of utility plant | 205 |  |  | 200 |  |  | 205 |  |  | 200 |
AROs | 296 |  |  | 273 |  |  | — |  |  | — |
Act 129 compliance rider | 16 |  |  | 19 |  |  | 16 |  |  | 19 |
Other | 8 |  |  | 10 |  |  | — |  |  | 3 |
Total noncurrent regulatory assets | $ | 1,662 |  |  | $ | 1,673 |  |  | $ | 805 |  |  | $ | 824 |
| PPL |  | PPL Electric
| June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018
Current Regulatory Liabilities: |  |  |  |  |  |  |
Generation supply charge | $ | 20 |  |  | $ | 33 |  |  | $ | 20 |  |  | $ | 33 |
Environmental cost recovery | 5 |  |  | 16 |  |  | — |  |  | — |
Universal service rider | 14 |  |  | 27 |  |  | 14 |  |  | 27 |
TCJA customer refund | 7 |  |  | 20 |  |  | 6 |  |  | 3 |
Storm damage expense rider | 3 |  |  | 5 |  |  | 3 |  |  | 5 |
Generation formula rate | — |  |  | 7 |  |  | — |  |  | — |
Other | 11 |  |  | 14 |  |  | — |  |  | 6 |
Total current regulatory liabilities | $ | 60 |  |  | $ | 122 |  |  | $ | 43 |  |  | $ | 74 |
Noncurrent Regulatory Liabilities: |  |  |  |  |  |  |
Accumulated cost of removal of utility plant | $ | 670 |  |  | $ | 674 |  |  | $ | — |  |  | $ | — |
Power purchase agreement - OVEC | 55 |  |  | 59 |  |  | — |  |  | — |
Net deferred taxes | 1,791 |  |  | 1,826 |  |  | 610 |  |  | 629 |
Defined benefit plans | 50 |  |  | 37 |  |  | 9 |  |  | 5 |
Terminated interest rate swaps | 70 |  |  | 72 |  |  | — |  |  | — |
TCJA customer refund (b) | 42 |  |  | 41 |  |  | 42 |  |  | 41 |
Other | 7 |  |  | 5 |  |  | — |  |  | — |
Total noncurrent regulatory liabilities | $ | 2,685 |  |  | $ | 2,714 |  |  | $ | 661 |  |  | $ | 675 |
| LKE |  | LG&E |  | KU
| June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018
Current Regulatory Assets: |  |  |  |  |  |  |  |  |  |  |
Plant outage costs | $ | 13 |  |  | $ | 10 |  |  | $ | 9 |  |  | $ | 7 |  |  | $ | 4 |  |  | $ | 3 |
Gas supply clause | 12 |  |  | 12 |  |  | 12 |  |  | 12 |  |  | — |  |  | — |
Other | 1 |  |  | 3 |  |  | — |  |  | 2 |  |  | 1 |  |  | 1 |
Total current regulatory assets | $ | 26 |  |  | $ | 25 |  |  | $ | 21 |  |  | $ | 21 |  |  | $ | 5 |  |  | $ | 4 |
Noncurrent Regulatory Assets: |  |  |  |  |  |  |  |  |  |  |
Defined benefit plans | $ | 396 |  |  | $ | 405 |  |  | $ | 244 |  |  | $ | 249 |  |  | $ | 152 |  |  | $ | 156 |
Storm costs | 28 |  |  | 34 |  |  | 17 |  |  | 20 |  |  | 11 |  |  | 14 |
Unamortized loss on debt | 22 |  |  | 23 |  |  | 14 |  |  | 15 |  |  | 8 |  |  | 8 |
Interest rate swaps | 23 |  |  | 20 |  |  | 23 |  |  | 20 |  |  | — |  |  | — |
Terminated interest rate swaps | 84 |  |  | 87 |  |  | 49 |  |  | 51 |  |  | 35 |  |  | 36 |
AROs | 296 |  |  | 273 |  |  | 85 |  |  | 75 |  |  | 211 |  |  | 198 |
Other | 8 |  |  | 7 |  |  | 2 |  |  | 1 |  |  | 6 |  |  | 6 |
Total noncurrent regulatory assets | $ | 857 |  |  | $ | 849 |  |  | $ | 434 |  |  | $ | 431 |  |  | $ | 423 |  |  | $ | 418 |
| LKE |  | LG&E |  | KU
| June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018
Current Regulatory Liabilities: |  |  |  |  |  |  |  |  |  |  |
Environmental cost recovery | $ | 5 |  |  | $ | 16 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | 3 |  |  | $ | 10 |
Fuel adjustment clause | 6 |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |
TCJA customer refund | 1 |  |  | 17 |  |  | — |  |  | 7 |  |  | 1 |  |  | 10 |
Generation formula rate | — |  |  | 7 |  |  | — |  |  | — |  |  | — |  |  | 7 |
Other | 5 |  |  | 8 |  |  | 2 |  |  | 4 |  |  | 3 |  |  | 4 |
Total current regulatory liabilities | $ | 17 |  |  | $ | 48 |  |  | $ | 4 |  |  | $ | 17 |  |  | $ | 13 |  |  | $ | 31 |
Noncurrent Regulatory Liabilities: |  |  |  |  |  |  |  |  |  |  |
Accumulated cost of removal of utility plant | $ | 670 |  |  | $ | 674 |  |  | $ | 274 |  |  | $ | 279 |  |  | $ | 396 |  |  | $ | 395 |
Power purchase agreement - OVEC | 55 |  |  | 59 |  |  | 38 |  |  | 41 |  |  | 17 |  |  | 18 |
Net deferred taxes | 1,181 |  |  | 1,197 |  |  | 551 |  |  | 557 |  |  | 630 |  |  | 640 |
Defined benefit plans | 41 |  |  | 32 |  |  | — |  |  | — |  |  | 41 |  |  | 32 |
Terminated interest rate swaps | 70 |  |  | 72 |  |  | 35 |  |  | 36 |  |  | 35 |  |  | 36 |
Other | 7 |  |  | 5 |  |  | 4 |  |  | 2 |  |  | 3 |  |  | 3 |
Total noncurrent regulatory liabilities | $ | 2,024 |  |  | $ | 2,039 |  |  | $ | 902 |  |  | $ | 915 |  |  | $ | 1,122 |  |  | $ | 1,124 |
(a) | For PPL, these amounts are included in "Other current assets" on the Balance Sheets.
(b) 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 distribution customer rates. The initial liability was recorded during the second quarter of 2018. 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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- 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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