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Commitments and Contingencies (Tables) | 12 Months Ended
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Dec. 31, 2024
Commitments And Contingencies [Line Items] |
Unrecorded Unconditional Purchase Obligations | LG&E and KU enter into purchase contracts to supply the coal and natural gas requirements for generation facilities and LG&E's retail natural gas supply operations. These contracts include the following commitments:
Contract Type | Maximum Maturity Date
Natural Gas Fuel | 2026
Natural Gas Retail Supply | 2025
Coal | 2030
Coal Transportation and Fleeting Services | 2033
Natural Gas Transportation | 2055
Future obligations for power purchases from OVEC are demand payments, comprised of debt-service payments and contractually-required reimbursements of plant operating, maintenance and other expenses, and are projected as follows:
| LG&E |  | KU |  | Total
2025 | $ | 25 |  |  | $ | 11 |  |  | $ | 36 |
2026 | 27 |  |  | 12 |  |  | 39 |
2027 | 27 |  |  | 12 |  |  | 39 |
2028 | 25 |  |  | 11 |  |  | 36 |
2029 | 25 |  |  | 11 |  |  | 36 |
Thereafter | 177 |  |  | 79 |  |  | 256 |
Total | $ | 306 |  |  | $ | 136 |  |  | $ | 442 |
LG&E and KU had total energy purchases under the OVEC PPA for the years ended December 31 as follows:
| 2024 |  | 2023 |  | 2022
LG&E | $ | 21 |  |  | $ | 20 |  |  | $ | 21 |
KU | 9 |  |  | 9 |  |  | 9 |
Total | $ | 30 |  |  | $ | 29 |  |  | $ | 30 |
Guarantees | The table below details guarantees provided as of December 31, 2024.
| Exposure at December 31, 2024 |  | Expiration Date
PPL |  |  |
Indemnifications related to certain tax liabilities related to the sale of the U.K. utility business | £ | 50 |  | (a) | 2028
PPL guarantee of Safari payment obligations under certain sale/leaseback financing transactions related to the sale of Safari Holdings | $ | 100 |  | (b) | 2028
Indemnifications for losses suffered related to items not covered by Aspen Power's representation and warranty insurance associated with the sale of Safari Holdings | 140 |  | (c) | Various
LG&E and KU |  |  |
LG&E and KU obligation of shortfall related to OVEC |  | (d) |
(a)PPL WPD Limited entered into a Tax Deed dated June 9, 2021 in which it agreed to a tax indemnity regarding certain potential tax liabilities of the entities sold with respect to periods prior to the completion of the sale, subject to customary exclusions and limitations. Because National Grid Holdings One plc, the buyer, agreed to purchase indemnity insurance, the amount of the cap on the indemnity for these liabilities is £1, except with respect to certain surrenders of tax losses, for which the amount of the cap on the indemnity is £50 million. (b)PPL guaranteed the payment obligations of Safari under certain sale/leaseback financing transactions executed by Safari. These guarantees will remain in place until Safari exercises its option to buy-out the projects under the sale/leaseback financings by the year 2028. Safari will indemnify PPL for any payments made by PPL or claims against PPL under the sale/leaseback transaction guarantees up to $25 million. (c)Aspen Power has obtained representation and warranty insurance, therefore, PPL generally has no liability for its representations and warranties under the agreement except for losses suffered related to items not covered. Expiration of these indemnifications range from 18 months to 6 years from the date of the closing of the transaction, and PPL’s aggregate liability for these claims will not exceed $140 million subject to certain adjustments plus the support obligations provided by PPL under sale-leaseback financings and PPAs that will be replaced by Aspen Power. PPL's support obligations related to the PPAs were replaced by Aspen Power and terminated on January 8, 2024. (d)Pursuant to the OVEC power purchase contract, LG&E and KU are obligated to pay for their share of OVEC's excess debt service, post-retirement and decommissioning costs, as well as any shortfall from amounts included within a demand charge designed and expected to cover these costs over the term of the contract. PPL's proportionate share of OVEC's outstanding debt was $81 million at December 31, 2024, consisting of LG&E's share of $56 million and KU's share of $25 million. The maximum exposure and the expiration date of these potential obligations are not presently determinable. See "Energy Purchase Commitments" above for additional information on the OVEC power purchase contract.
Rhode Island Energy |
Commitments And Contingencies [Line Items] |
Schedule of Electric and Gas Purchase Contracts | These contracts include the following commitments:
Contract Type | Maximum Maturity Date
Electric power | 2027
Gas-related | Beyond 2030
RIE’s commitments under these long-term contracts subsequent to December 31, 2024 are summarized in the table below.
| Total |  | 2025 |  | 2026-2027 |  | 2028-2029 |  | Thereafter
Energy Purchase Obligations | $ | 936 |  |  | $ | 274 |  |  | $ | 240 |  |  | $ | 122 |  |  | $ | 300 |
Louisville Gas And Electric Co [Member] |
Commitments And Contingencies [Line Items] |
Unrecorded Unconditional Purchase Obligations | LG&E and KU enter into purchase contracts to supply the coal and natural gas requirements for generation facilities and LG&E's retail natural gas supply operations. These contracts include the following commitments:
Contract Type | Maximum Maturity Date
Natural Gas Fuel | 2026
Natural Gas Retail Supply | 2025
Coal | 2030
Coal Transportation and Fleeting Services | 2033
Natural Gas Transportation | 2055
Future obligations for power purchases from OVEC are demand payments, comprised of debt-service payments and contractually-required reimbursements of plant operating, maintenance and other expenses, and are projected as follows:
| LG&E |  | KU |  | Total
2025 | $ | 25 |  |  | $ | 11 |  |  | $ | 36 |
2026 | 27 |  |  | 12 |  |  | 39 |
2027 | 27 |  |  | 12 |  |  | 39 |
2028 | 25 |  |  | 11 |  |  | 36 |
2029 | 25 |  |  | 11 |  |  | 36 |
Thereafter | 177 |  |  | 79 |  |  | 256 |
Total | $ | 306 |  |  | $ | 136 |  |  | $ | 442 |
LG&E and KU had total energy purchases under the OVEC PPA for the years ended December 31 as follows:
| 2024 |  | 2023 |  | 2022
LG&E | $ | 21 |  |  | $ | 20 |  |  | $ | 21 |
KU | 9 |  |  | 9 |  |  | 9 |
Total | $ | 30 |  |  | $ | 29 |  |  | $ | 30 |
Kentucky Utilities Co [Member] |
Commitments And Contingencies [Line Items] |
Unrecorded Unconditional Purchase Obligations | LG&E and KU enter into purchase contracts to supply the coal and natural gas requirements for generation facilities and LG&E's retail natural gas supply operations. These contracts include the following commitments:
Contract Type | Maximum Maturity Date
Natural Gas Fuel | 2026
Natural Gas Retail Supply | 2025
Coal | 2030
Coal Transportation and Fleeting Services | 2033
Natural Gas Transportation | 2055
Future obligations for power purchases from OVEC are demand payments, comprised of debt-service payments and contractually-required reimbursements of plant operating, maintenance and other expenses, and are projected as follows:
| LG&E |  | KU |  | Total
2025 | $ | 25 |  |  | $ | 11 |  |  | $ | 36 |
2026 | 27 |  |  | 12 |  |  | 39 |
2027 | 27 |  |  | 12 |  |  | 39 |
2028 | 25 |  |  | 11 |  |  | 36 |
2029 | 25 |  |  | 11 |  |  | 36 |
Thereafter | 177 |  |  | 79 |  |  | 256 |
Total | $ | 306 |  |  | $ | 136 |  |  | $ | 442 |
LG&E and KU had total energy purchases under the OVEC PPA for the years ended December 31 as follows:
| 2024 |  | 2023 |  | 2022
LG&E | $ | 21 |  |  | $ | 20 |  |  | $ | 21 |
KU | 9 |  |  | 9 |  |  | 9 |
Total | $ | 30 |  |  | $ | 29 |  |  | $ | 30 |

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- Definition Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482425/460-10-50-4 + Details
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