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Financing Activities (Tables) | 12 Months Ended
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Dec. 31, 2020
Debt Disclosure [Line Items] |
Commercial paper |
| December 31, 2020 |  | December 31, 2019
| Weighted - Average Interest Rate |  | Capacity |  | Commercial Paper Issuances |  | Unused Capacity |  | Weighted - Average Interest Rate |  | Commercial Paper Issuances
PPL Capital Funding | 0.25% |  | $ | 1,500 |  |  | $ | 402 |  |  | $ | 1,098 |  |  | 2.13% |  | $ | 450 |
PPL Electric |  |  | 650 |  |  | — |  |  | 650 |  |  |  |  | — |
LG&E | 0.28% |  | 350 |  |  | 262 |  |  | 88 |  |  | 2.07% |  | 238 |
KU | 0.28% |  | 350 |  |  | 203 |  |  | 147 |  |  | 2.02% |  | 150 |
Total |  |  | $ | 2,850 |  |  | $ | 867 |  |  | $ | 1,983 |  |  |  |  | $ | 838 |
Long-term Debt | Long-term Debt (All Registrants)
|  |  |  |  | December 31,
| Weighted-Average Rate (g) |  | Maturities (g) |  | 2020 |  | 2019
PPL |  |  |  |  |  |  |
U.S. |  |  |  |  |  |  |
Senior Unsecured Notes | 3.95 | % |  | 2021 - 2047 |  | $ | 4,850 |  |  | $ | 4,325 |
Senior Secured Notes/First Mortgage Bonds (a) (b) (c) | 3.81 | % |  | 2021 - 2050 |  | 8,955 |  |  | 8,705 |
Junior Subordinated Notes | 4.35 | % |  | 2067 - 2073 |  | 930 |  |  | 930 |
Term Loan Credit Facility | 0.85 | % |  | 2022 |  | 100 |  |  | — |
Total U.S. Long-term Debt |  |  |  |  | 14,835 |  |  | 13,960 |
U.K. |  |  |  |  |  |  |
Senior Unsecured Notes (d) | 4.69 | % |  | 2021 - 2040 |  | 7,197 |  |  | 6,874 |
Index-linked Senior Unsecured Notes (e) | 1.42 | % |  | 2028 - 2056 |  | 1,150 |  |  | 1,104 |
Term Loan Credit Facility | 1.46 | % |  | 2024 |  | 67 |  |  | 64 |
Total U.K. Long-term Debt (f) |  |  |  |  | 8,414 |  |  | 8,042 |
Total Long-term Debt Before Adjustments |  |  |  |  | 23,249 |  |  | 22,002 |
Fair market value adjustments |  |  |  |  | 8 |  |  | 12 |
Unamortized premium and (discount), net |  |  |  |  | 2 |  |  | 5 |
Unamortized debt issuance costs |  |  |  |  | (132) |  |  | (126) |
Total Long-term Debt |  |  |  |  | 23,127 |  |  | 21,893 |
Less current portion of Long-term Debt |  |  |  |  | 1,574 |  |  | 1,172 |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 21,553 |  |  | $ | 20,721 |
PPL Electric |  |  |  |  |  |  |
Senior Secured Notes/First Mortgage Bonds (a) (b) | 3.79 | % |  | 2021 - 2049 |  | $ | 4,289 |  |  | $ | 4,039 |
Total Long-term Debt Before Adjustments |  |  |  |  | 4,289 |  |  | 4,039 |
Unamortized discount |  |  |  |  | (23) |  |  | (24) |
Unamortized debt issuance costs |  |  |  |  | (30) |  |  | (30) |
Total Long-term Debt |  |  |  |  | 4,236 |  |  | 3,985 |
Less current portion of Long-term Debt |  |  |  |  | 400 |  |  | — |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 3,836 |  |  | $ | 3,985 |
LKE |  |  |  |  |  |  |
Senior Unsecured Notes | 4.38 | % |  | 2021 |  | $ | 250 |  |  | $ | 725 |
First Mortgage Bonds (a) (c) | 3.82 | % |  | 2023 - 2050 |  | 4,666 |  |  | 4,666 |
Long-term debt to affiliate | 3.89 | % |  | 2026 - 2030 |  | 1,200 |  |  | 650 |
Total Long-term Debt Before Adjustments |  |  |  |  | 6,116 |  |  | 6,041 |
Unamortized premium |  |  |  |  | 5 |  |  | 5 |
Unamortized discount |  |  |  |  | (13) |  |  | (12) |
Unamortized debt issuance costs |  |  |  |  | (34) |  |  | (32) |
Total Long-term Debt |  |  |  |  | 6,074 |  |  | 6,002 |
Less current portion of Long-term Debt |  |  |  |  | 674 |  |  | 975 |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 5,400 |  |  | $ | 5,027 |
|  |  |  |  | December 31,
| Weighted-Average Rate (g) |  | Maturities (g) |  | 2020 |  | 2019
LG&E |  |  |  |  |  |  |
First Mortgage Bonds (a) (c) | 3.69 | % |  | 2025 - 2049 |  | $ | 2,024 |  |  | $ | 2,024 |
Total Long-term Debt Before Adjustments |  |  |  |  | 2,024 |  |  | 2,024 |
Unamortized discount |  |  |  |  | (4) |  |  | (4) |
Unamortized debt issuance costs |  |  |  |  | (13) |  |  | (15) |
Total Long-term Debt |  |  |  |  | 2,007 |  |  | 2,005 |
Less current portion of Long-term Debt |  |  |  |  | 292 |  |  | — |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 1,715 |  |  | $ | 2,005 |
KU |  |  |  |  |  |  |
First Mortgage Bonds (a) (c) | 3.92 | % |  | 2023 - 2050 |  | $ | 2,642 |  |  | $ | 2,642 |
Total Long-term Debt Before Adjustments |  |  |  |  | 2,642 |  |  | 2,642 |
Unamortized premium |  |  |  |  | 5 |  |  | 5 |
Unamortized discount |  |  |  |  | (9) |  |  | (8) |
Unamortized debt issuance costs |  |  |  |  | (20) |  |  | (16) |
Total Long-term Debt |  |  |  |  | 2,618 |  |  | 2,623 |
Less current portion of Long-term Debt |  |  |  |  | 132 |  |  | 500 |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 2,486 |  |  | $ | 2,123 |
(a)Includes PPL Electric's senior secured and first mortgage bonds that are secured by the lien of PPL Electric's 2001 Mortgage Indenture, which covers substantially all of PPL Electric’s tangible distribution properties and certain of its tangible transmission properties located in Pennsylvania, subject to certain exceptions and exclusions. The carrying value of PPL Electric's property, plant and equipment was approximately $10.8 billion and $10.1 billion at December 31, 2020 and 2019. Includes LG&E's first mortgage bonds that are secured by the lien of the LG&E 2010 Mortgage Indenture which creates a lien, subject to certain exceptions and exclusions, on substantially all of LG&E's real and tangible personal property located in Kentucky and used or to be used in connection with the generation, transmission and distribution of electricity and the storage and distribution of natural gas. The aggregate carrying value of the property subject to the lien was $5.5 billion and $5.3 billion at December 31, 2020 and 2019. Includes KU's first mortgage bonds that are secured by the lien of the KU 2010 Mortgage Indenture which creates a lien, subject to certain exceptions and exclusions, on substantially all of KU's real and tangible personal property located in Kentucky and used or to be used in connection with the generation, transmission and distribution of electricity. The aggregate carrying value of the property subject to the lien was $6.7 billion and $6.6 billion at December 31, 2020 and 2019. (b)Includes PPL Electric's series of senior secured bonds that secure its obligations to make payments with respect to each series of Pollution Control Bonds that were issued by the LCIDA and the PEDFA on behalf of PPL Electric. These senior secured bonds were issued in the same principal amount, contain payment and redemption provisions that correspond to and bear the same interest rate as such Pollution Control Bonds. These senior secured bonds were issued under PPL Electric's 2001 Mortgage Indenture and are secured as noted in (a) above. This amount includes $224 million of which PPL Electric is allowed to convert the interest rate mode on the bonds from time to time to a commercial paper rate, daily rate, weekly rate, or term rate of at least one year and $90 million which is subject to mandatory redemption upon determination that the interest rate on the bonds would be included in the holders' gross income for federal tax purposes. Includes $250 million of notes that may be called on or after September 28, 2021, at a redemption price equal to 100% of the principal amount of the bonds, plus accrued and unpaid interest to, but excluding, such redemption date. (c)Includes LG&E's and KU's series of first mortgage bonds that were issued to the respective trustees of tax-exempt revenue bonds to secure its respective obligations to make payments with respect to each series of bonds. The first mortgage bonds were issued in the same principal amounts, contain payment and redemption provisions that correspond to and bear the same interest rate as such tax-exempt revenue bonds. These first mortgage bonds were issued under the LG&E 2010 Mortgage Indenture and the KU 2010 Mortgage Indenture and are secured as noted in (a) above. The related tax-exempt revenue bonds were issued by various governmental entities, principally counties in Kentucky, on behalf of LG&E and KU. The related revenue bond documents allow LG&E and KU to convert the interest rate mode on the bonds from time to time to a commercial paper rate, daily rate, weekly rate, term rate of at least one year or, in some cases, an auction rate or a LIBOR index rate. At December 31, 2020, the aggregate tax-exempt revenue bonds issued on behalf of LG&E and KU that were in a term rate mode totaled $848 million for LKE, comprised of $539 million and $309 million for LG&E and KU respectively. At December 31, 2020, the aggregate tax-exempt revenue bonds issued on behalf of LG&E and KU that were in a variable rate mode totaled $33 million for LKE and KU respectively. These variable rate tax-exempt revenue bonds are subject to tender for purchase by LG&E and KU at the option of the holder and to mandatory tender for purchase by LG&E and KU upon the occurrence of certain events. (d)Includes £225 million ($300 million at December 31, 2020) of notes that may be redeemed, in total but not in part, on December 21, 2026, at the greater of the principal value or a value determined by reference to the gross redemption yield on a nominated U.K. Government bond. (e)The principal amount of the notes issued by WPD (South West), WPD (East Midlands) and WPD (South Wales) is adjusted based on changes in a specified index, as detailed in the terms of the related indentures. The adjustment to the principal amounts from 2019 to 2020 was an increase of approximately £10 million ($13 million) resulting from inflation. In addition, this amount includes £331 million ($441 million at December 31, 2020) of notes issued by WPD (South West) that may be redeemed, in total by series, on December 1, 2026, at the greater of the adjusted principal value and a make-whole value determined by reference to the gross real yield on a nominated U.K. government bond. (f)Includes £5.8 billion ($7.7 billion at December 31, 2020) of notes that may be put by the holders to the issuer for redemption if the long-term credit ratings assigned to the notes are withdrawn by any of the rating agencies (Moody's or S&P) or reduced to a non-investment grade rating of Ba1 or BB+ or lower in connection with a restructuring event, which includes the loss of, or a material adverse change to, the distribution licenses under which the issuer operates. (g)The table reflects principal maturities only, based on stated maturities or earlier put dates, and the weighted-average rates as of December 31, 2020.
Long-term Debt Maturities | The aggregate maturities of long-term debt, based on stated maturities or earlier put dates, for the periods 2021 through 2025 and thereafter are as follows:
| PPL |  | PPL Electric |  | LKE |  | LG&E |  | KU
2021 | $ | 1,574 |  |  | $ | 400 |  |  | $ | 674 |  |  | $ | 292 |  |  | $ | 132 |
2022 | 1,374 |  |  | 474 |  |  | — |  |  | — |  |  | — |
2023 | 2,552 |  |  | 340 |  |  | 13 |  |  | — |  |  | 13 |
2024 | 950 |  |  | — |  |  | — |  |  | — |  |  | — |
2025 | 883 |  |  | — |  |  | 550 |  |  | 300 |  |  | 250 |
Thereafter | 15,916 |  |  | 3,075 |  |  | 4,879 |  |  | 1,432 |  |  | 2,247 |
Total | $ | 23,249 |  |  | $ | 4,289 |  |  | $ | 6,116 |  |  | $ | 2,024 |  |  | $ | 2,642 |

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