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v3.20.2

Utility Rate Regulation (Tables) | 6 Months Ended
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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.

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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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