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Financing Activities (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Line Items] |
Credit Facilities in Place at Period End | The following credit facilities were in place at:
| December 31, 2024 |  | December 31, 2023
| Expiration Date |  | Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued (d) |  | Unused Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued (d)
PPL |  |  |  |  |  |  |  |  |  |  |  |  |
PPL Capital Funding |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (a) (b) (c) | Dec 2028 |  | $ | 1,250 |  |  | $ | — |  |  | $ | 138 |  |  | $ | 1,112 |  |  | $ | — |  |  | $ | 390 |
Bilateral Credit Facility (a) (b) | Feb 2025 |  | 100 |  |  | — |  |  | — |  |  | 100 |  |  | — |  |  | — |
Bilateral Credit Facility (a) (b) | Feb 2025 |  | 100 |  |  | — |  |  | 15 |  |  | 85 |  |  | — |  |  | 13 |
Total PPL Capital Funding Credit Facilities |  |  | $ | 1,450 |  |  | $ | — |  |  | $ | 153 |  |  | $ | 1,297 |  |  | $ | — |  |  | $ | 403 |
PPL Electric |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (a) (b) | Dec 2028 |  | 650 |  |  | — |  |  | 1 |  |  | 649 |  |  | — |  |  | 511 |
Total PPL Electric Credit Facilities |  |  | $ | 650 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 649 |  |  | $ | — |  |  | $ | 511 |
| December 31, 2024 |  | December 31, 2023
| Expiration Date |  | Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued (d) |  | Unused Capacity |  | Borrowed |  | Letters of Credit and Commercial Paper Issued (d)
LG&E |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (a) (b) | Dec 2028 |  | 500 |  |  | — |  |  | 25 |  |  | 475 |  |  | — |  |  | — |
Total LG&E Credit Facilities |  |  | $ | 500 |  |  | $ | — |  |  | $ | 25 |  |  | $ | 475 |  |  | $ | — |  |  | $ | — |
KU |  |  |  |  |  |  |  |  |  |  |  |  |
Syndicated Credit Facility (a) (b) | Dec 2028 |  | 400 |  |  | — |  |  | 140 |  |  | 260 |  |  | — |  |  | 93 |
Total KU Credit Facilities |  |  | $ | 400 |  |  | $ | — |  |  | $ | 140 |  |  | $ | 260 |  |  | $ | — |  |  | $ | 93 |
(a)Each company pays customary fees under its respective facility and borrowings generally bear interest at applicable secured overnight financing rates or base rates, plus an applicable margin. (b)The facilities contain a financial covenant requiring debt to total capitalization not to exceed 70% for PPL Capital Funding, RIE, PPL Electric, LG&E and KU, as calculated in accordance with the facilities and other customary covenants. Additionally, subject to certain conditions, PPL Capital Funding may request that the capacity of one of its bilateral credit facilities expiring in February 2025 be increased by up to $30 million and that the capacity of its syndicated credit facility be increased by up to $400 million. PPL Electric, LG&E and KU may each request up to a $250 million increase in its syndicated credit facility's capacity, subject to regulatory approval of the increased capacity. Participation in any such increase is at the sole discretion of each lender. (c)Includes a $250 million borrowing sublimit for RIE and a $1 billion sublimit for PPL Capital Funding at December 31, 2024 and 2023. At December 31, 2024, PPL Capital Funding had $138 million of commercial paper outstanding and RIE had no commercial paper outstanding. At December 31, 2023, PPL Capital Funding had $365 million of commercial paper outstanding and RIE had $25 million of commercial paper outstanding. RIE's obligations under the facility are not guaranteed by PPL. (d)Commercial paper issued reflects the undiscounted face value of the issuance.
Commercial paper | The following commercial paper programs were in place at:
| December 31, 2024 |  | December 31, 2023
| Weighted - Average Interest Rate |  | Capacity |  | Commercial Paper Issuances (c) |  | Unused Capacity |  | Weighted - Average Interest Rate |  | Commercial Paper Issuances (c)
PPL Capital Funding (a) | 4.76% |  | $ | 1,350 |  |  | $ | 138 |  |  | $ | 1,212 |  |  | 5.66% |  | $ | 365 |
RIE (b) |  |  | 250 |  |  | — |  |  | 250 |  |  | 5.72% |  | 25 |
PPL Electric |  |  | 650 |  |  | — |  |  | 650 |  |  | 5.67% |  | 510 |
LG&E | 4.72% |  | 500 |  |  | 25 |  |  | 475 |  |  |  |  | — |
KU | 4.71% |  | 400 |  |  | 140 |  |  | 260 |  |  | 5.64% |  | 93 |
Total |  |  | $ | 3,150 |  |  | $ | 303 |  |  | $ | 2,847 |  |  |  |  | $ | 993 |
(a)PPL Capital Funding's obligations are fully and unconditionally guaranteed by PPL. (b)Issuances under the PPL Capital Funding and RIE commercial paper programs are supported by the PPL Capital Funding syndicated credit facility, which, at December 31, 2024, had a total capacity of $1.25 billion and under which they are both borrowers. PPL Capital Funding’s Commercial paper program is also backed by a separate bilateral credit facility for $100 million. The PPL Capital Funding syndicated credit facility includes a borrowing sublimit for RIE, which at December 31, 2024 was set at $250 million with the remaining $1 billion allocated to PPL Capital Funding. RIE's obligations under the facility are not guaranteed by PPL. The sublimits of each borrower may be decreased or increased at the borrowers’ option up to a prescribed amount such that all borrowings under the syndicated credit facility cannot exceed the size of the credit facility of $1.25 billion. (c)Commercial paper issued reflects the undiscounted face value of the issuance.
Long-term Debt | Long-term Debt (All Registrants)
|  |  |  |  | December 31,
| Weighted-Average Rate (d) |  | Maturities (d) |  | 2024 |  | 2023
PPL |  |  |  |  |  |  |
Senior Unsecured Notes | 4.34 | % |  | 2026 - 2047 |  | $ | 4,316 |  |  | $ | 3,066 |
Senior Secured Notes/First Mortgage Bonds (a) (b) (c) | 4.38 | % |  | 2025 - 2053 |  | 10,878 |  |  | 10,229 |
Exchangeable Senior Unsecured Notes | 2.88 | % |  | 2028 |  | 1,000 |  |  | 1,000 |
Junior Subordinated Notes | 7.25 | % |  | 2067 |  | 480 |  |  | 480 |
Total Long-term Debt before adjustments |  |  |  |  | 16,674 |  |  | 14,775 |
Unamortized premium and (discount), net |  |  |  |  | (57) |  |  | (55) |
Unamortized debt issuance costs |  |  |  |  | (114) |  |  | (108) |
Total Long-term Debt |  |  |  |  | 16,503 |  |  | 14,612 |
Less current portion of Long-term Debt |  |  |  |  | 551 |  |  | 1 |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 15,952 |  |  | $ | 14,611 |
PPL Electric |  |  |  |  |  |  |
Senior Secured Notes/First Mortgage Bonds (a) (b) | 4.64 | % |  | 2027 - 2053 |  | $ | 5,299 |  |  | $ | 4,649 |
Total Long-term Debt Before Adjustments |  |  |  |  | 5,299 |  |  | 4,649 |
Unamortized discount |  |  |  |  | (42) |  |  | (42) |
Unamortized debt issuance costs |  |  |  |  | (43) |  |  | (40) |
Total Long-term Debt |  |  |  |  | 5,214 |  |  | 4,567 |
Less current portion of Long-term Debt |  |  |  |  | — |  |  | — |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 5,214 |  |  | $ | 4,567 |
|  |  |  |  | December 31,
| Weighted-Average Rate (d) |  | Maturities (d) |  | 2024 |  | 2023
LG&E |  |  |  |  |  |  |
Senior Secured Notes/First Mortgage Bonds (a) (c) | 4.01 | % |  | 2025 - 2049 |  | $ | 2,489 |  |  | $ | 2,489 |
Total Long-term Debt Before Adjustments |  |  |  |  | 2,489 |  |  | 2,489 |
Unamortized discount |  |  |  |  | (4) |  |  | (4) |
Unamortized debt issuance costs |  |  |  |  | (14) |  |  | (16) |
Total Long-term Debt |  |  |  |  | 2,471 |  |  | 2,469 |
Less current portion of Long-term Debt |  |  |  |  | 300 |  |  | — |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 2,171 |  |  | $ | 2,469 |
KU |  |  |  |  |  |  |
Senior Secured Notes/First Mortgage Bonds (a) (c) | 4.22 | % |  | 2025 - 2050 |  | $ | 3,089 |  |  | $ | 3,089 |
Total Long-term Debt Before Adjustments |  |  |  |  | 3,089 |  |  | 3,089 |
Unamortized premium |  |  |  |  | 4 |  |  | 5 |
Unamortized discount |  |  |  |  | (8) |  |  | (9) |
Unamortized debt issuance costs |  |  |  |  | (19) |  |  | (21) |
Total Long-term Debt |  |  |  |  | 3,066 |  |  | 3,064 |
Less current portion of Long-term Debt |  |  |  |  | 250 |  |  | — |
Total Long-term Debt, noncurrent |  |  |  |  | $ | 2,816 |  |  | $ | 3,064 |
(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 $13.3 billion and $12.4 billion at December 31, 2024 and 2023. 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 $6.0 billion and $5.9 billion at December 31, 2024 and 2023. 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 $7.5 billion and $7.3 billion at December 31, 2024 and 2023. (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 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. The tax-exempt revenue bonds are 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. (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 SOFR index rate. At December 31, 2024, the aggregate tax-exempt revenue bonds issued on behalf of LG&E and KU that were in a term rate mode totaled $894 million for PPL, comprised of $538 million and $356 million for LG&E and KU. At December 31, 2024, the aggregate tax-exempt revenue bonds issued on behalf of LG&E and KU that were in a variable rate mode totaled $66 million and $33 million for LG&E and KU. 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)The table reflects principal maturities only, based on stated maturities, sinking fund requirements, or earlier put dates, and the weighted-average rates as of December 31, 2024.
Long-term Debt Maturities | The aggregate maturities of long-term debt, based on sinking fund requirements, stated maturities or earlier put dates, for the periods 2025 through 2029 and thereafter are as follows:
| PPL |  | PPL Electric |  |  |  | LG&E |  | KU
2025 | $ | 551 |  |  | $ | — |  |  |  |  | $ | 300 |  |  | $ | 250 |
2026 | 904 |  |  | — |  |  |  |  | 90 |  |  | 164 |
2027 | 428 |  |  | 108 |  |  |  |  | 260 |  |  | 60 |
2028 | 1,350 |  |  | — |  |  |  |  | — |  |  | — |
2029 | 116 |  |  | 116 |  |  |  |  | — |  |  | — |
Thereafter | 13,325 |  |  | 5,075 |  |  |  |  | 1,839 |  |  | 2,615 |
Total | $ | 16,674 |  |  | $ | 5,299 |  |  |  |  | $ | 2,489 |  |  | $ | 3,089 |

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