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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current Assets    
Cash and cash equivalents $ 1,071 $ 306
Accounts receivable (less reserve:)    
Customer 1,108 961
Other 117 76
Unbilled revenues 558 485
Fuel, materials and supplies 551 511
Prepayments 106 136
Regulatory assets 308 320
Other current assets 112 85
Total Current Assets 3,931 2,880
Property, Plant and Equipment    
Regulated utility plant 42,953 40,391
Less: accumulated depreciation - regulated utility plant 10,303 9,682
Regulated utility plant, net 32,650 30,709
Non-regulated property, plant and equipment 71 79
Less: accumulated depreciation - non-regulated property, plant and equipment 26 29
Non-regulated property, plant and equipment, net 45 50
Construction work in progress 3,437 2,390
Property, Plant and Equipment, net 36,132 33,149
Other Noncurrent Assets    
Regulatory assets 2,092 2,060
Goodwill 2,247 2,247
Other intangibles 327 314
Other noncurrent assets 515 419
Total Other Noncurrent Assets 5,181 5,040
Total Assets 45,244 41,069
Current Liabilities    
Short-term debt 456 303
Long-term debt due within one year 904 551
Accounts payable 1,559 1,196
Taxes 190 103
Interest 195 157
Dividends 198 186
Regulatory liabilities 376 223
Other current liabilities 668 614
Total Current Liabilities 4,546 3,333
Long-term Debt [Abstract]    
Long-term Debt 17,990 15,952
Deferred Credits and Other Noncurrent Liabilities    
Deferred income taxes 3,506 3,356
Investment tax credits 109 111
Accrued pension obligations 281 317
Asset retirement obligations 133 136
Regulatory liabilities 3,318 3,335
Other deferred credits and noncurrent liabilities 480 452
Total Deferred Credits and Other Noncurrent Liabilities 7,827 7,707
Commitments and Contingent Liabilities
Equity    
Common stock [1] 8 8
Additional paid-in capital 12,443 12,346
Earnings reinvested 3,207 2,835
Accumulated other comprehensive loss (202) (184)
Total Equity 14,881 14,077
Total Liabilities and Equity $ 45,244 $ 41,069
Common stock par value $ 0.01 $ 0.01
Treasury Stock $ (575) $ (928)
PPL Electric Utilities Corp [Member]    
Current Assets    
Cash and cash equivalents 30 24
Accounts receivable (less reserve:)    
Notes Receivable from Affiliate $ 143 $ 222
Financing Receivable, after Allowance for Credit Loss, Related Party [Extensible Enumeration] Affiliated Entity [Member] Affiliated Entity [Member]
Other $ 29 $ 8
Unbilled revenues 209 159
Fuel, materials and supplies 151 104
Prepayments 38 74
Regulatory assets 112 133
Other current assets 46 30
Total Current Assets 1,215 1,117
Property, Plant and Equipment    
Regulated utility plant 17,476 16,469
Less: accumulated depreciation - regulated utility plant 4,124 4,052
Regulated utility plant, net 13,352 12,417
Construction work in progress 1,216 898
Property, Plant and Equipment, net 14,568 13,315
Other Noncurrent Assets    
Regulatory assets 725 673
Other intangibles 282 274
Other noncurrent assets 96 96
Total Other Noncurrent Assets 1,103 1,043
Total Assets 16,886 15,475
Current Liabilities    
Long-term debt due within one year 0 0
Taxes 47 2
Interest 66 55
Customer deposits 92 25
Regulatory liabilities 103 57
Other current liabilities 58 58
Total Current Liabilities 1,110 806
Long-term Debt [Abstract]    
Long-term Debt 5,707 5,214
Deferred Credits and Other Noncurrent Liabilities    
Deferred income taxes 1,781 1,726
Regulatory liabilities 828 839
Other deferred credits and noncurrent liabilities 122 160
Total Deferred Credits and Other Noncurrent Liabilities 2,731 2,725
Commitments and Contingent Liabilities
Equity    
Common stock [2] 364 364
Additional paid-in capital 5,038 4,668
Earnings reinvested 1,936 1,698
Total Shareowners' Common Equity 7,338 6,730
Total Liabilities and Equity $ 16,886 $ 15,475
Common stock no par value $ 0 $ 0
PPL Electric Utilities Corp [Member] | Related Party    
Accounts receivable (less reserve:)    
Customer $ 7 $ 10
Current Liabilities    
Accounts payable 54 44
PPL Electric Utilities Corp [Member] | Nonrelated Party    
Accounts receivable (less reserve:)    
Customer 450 353
Current Liabilities    
Accounts payable 690 565
Louisville Gas And Electric Co [Member]    
Current Assets    
Cash and cash equivalents 162 8
Accounts receivable (less reserve:)    
Other 26 23
Unbilled revenues 97 87
Fuel, materials and supplies 160 157
Prepayments 11 9
Regulatory assets 19 8
Other current assets 2 2
Total Current Assets 713 468
Property, Plant and Equipment    
Regulated utility plant 8,270 7,748
Less: accumulated depreciation - regulated utility plant 1,842 1,643
Regulated utility plant, net 6,428 6,105
Construction work in progress 689 443
Property, Plant and Equipment, net 7,117 6,548
Other Noncurrent Assets    
Regulatory assets 482 491
Goodwill 389 389
Other intangibles 11 12
Other noncurrent assets 106 84
Total Other Noncurrent Assets 988 976
Total Assets 8,818 7,992
Current Liabilities    
Short-term debt 0 25
Notes Payable with affiliates $ 0 $ 43
Notes Payable, Related Party [Extensible Enumeration] Related Party Affiliated Entity [Member]
Long-term debt due within one year $ 90 $ 300
Taxes 60 40
Interest 34 21
Asset Retirement Obligations 2 11
Customer deposits 37 36
Regulatory liabilities 13 14
Other current liabilities 54 50
Total Current Liabilities 625 762
Long-term Debt [Abstract]    
Long-term Debt 2,775 2,171
Deferred Credits and Other Noncurrent Liabilities    
Deferred income taxes 819 803
Investment tax credits 29 30
Price risk management liabilities 4 3
Asset retirement obligations 73 73
Regulatory liabilities 809 815
Other deferred credits and noncurrent liabilities 78 64
Total Deferred Credits and Other Noncurrent Liabilities 1,812 1,788
Commitments and Contingent Liabilities
Equity    
Common stock [3] 424 424
Additional paid-in capital 2,208 1,982
Earnings reinvested 974 865
Total Shareowners' Common Equity 3,606 3,271
Total Liabilities and Equity $ 8,818 $ 7,992
Common stock no par value $ 0 $ 0
Louisville Gas And Electric Co [Member] | Related Party    
Accounts receivable (less reserve:)    
Customer $ 46 $ 40
Financing Receivable, after Allowance for Credit Loss, Current 36 0
Current Liabilities    
Accounts payable 73 64
Louisville Gas And Electric Co [Member] | Nonrelated Party    
Accounts receivable (less reserve:)    
Customer 154 134
Current Liabilities    
Accounts payable 262 158
Kentucky Utilities Co [Member]    
Current Assets    
Cash and cash equivalents 10 13
Accounts receivable (less reserve:)    
Customer 171 160
Other 26 22
Unbilled revenues 106 102
Fuel, materials and supplies 183 173
Prepayments 12 11
Regulatory assets 1 1
Other current assets 16 9
Total Current Assets 525 491
Property, Plant and Equipment    
Regulated utility plant 10,929 10,419
Less: accumulated depreciation - regulated utility plant 2,934 2,652
Regulated utility plant, net 7,995 7,767
Construction work in progress 952 567
Property, Plant and Equipment, net 8,947 8,334
Other Noncurrent Assets    
Regulatory assets 467 458
Goodwill 607 607
Other intangibles 34 28
Other noncurrent assets 178 155
Total Other Noncurrent Assets 1,286 1,248
Total Assets 10,758 10,073
Current Liabilities    
Short-term debt 0 140
Notes Payable with affiliates $ 36 $ 73
Notes Payable, Related Party [Extensible Enumeration] Related Party Affiliated Entity [Member]
Long-term debt due within one year $ 164 $ 250
Taxes 63 37
Interest 38 24
Asset Retirement Obligations 6 10
Customer deposits 41 39
Regulatory liabilities 16 22
Other current liabilities 69 58
Total Current Liabilities 676 849
Long-term Debt [Abstract]    
Long-term Debt 3,346 2,816
Deferred Credits and Other Noncurrent Liabilities    
Deferred income taxes 956 924
Investment tax credits 79 81
Asset retirement obligations 51 54
Regulatory liabilities 997 1,009
Other deferred credits and noncurrent liabilities 44 41
Total Deferred Credits and Other Noncurrent Liabilities 2,127 2,109
Commitments and Contingent Liabilities
Equity    
Common stock [4] 308 308
Additional paid-in capital 3,217 3,056
Earnings reinvested 1,084 935
Total Shareowners' Common Equity 4,609 4,299
Total Liabilities and Equity $ 10,758 $ 10,073
Common stock no par value $ 0 $ 0
Kentucky Utilities Co [Member] | Related Party    
Current Liabilities    
Accounts payable $ 106 $ 100
Kentucky Utilities Co [Member] | Nonrelated Party    
Current Liabilities    
Accounts payable $ 137 $ 96
[1] 1,560,000 shares authorized; 770,978 shares issued and 751,041 shares outstanding at December 31, 2025. 1,560,000 shares authorized; 770,215 shares issued and 738,033 shares outstanding at December 31, 2024.
[2] 170,000 shares authorized; 66,368 shares issued and outstanding at December 31, 2025 and December 31, 2024
[3] 75,000 shares authorized; 21,294 shares issued and outstanding at December 31, 2025 and December 31, 2024.
[4] 80,000 shares authorized; 37,818 shares issued and outstanding at December 31, 2025 and December 31, 2024.