PPL Electric Utilities 10-Q 6 May 10 2010 Q1 Quarterly report Financial data

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
In Millions, except Share data in Thousands	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Operating Revenues
Utility	$1,014	$1,065
Unregulated retail electric and gas	104	42
Wholesale energy marketing
Realized	1,386	798
Unrealized economic activity (Note 14)	424	352
Net energy trading margins	11	(12)
Energy-related businesses	94	99
Total Operating Revenues	3,033	2,344
Operation
Fuel	233	258
Energy purchases
Realized	1,012	677
Unrealized economic activity (Note 14)	563	269
Other operation and maintenance	445	372
Amortization of recoverable transition costs	0	84
Depreciation	128	109
Taxes, other than income	72	72
Energy-related businesses	88	91
Total Operating Expenses	2,541	1,932
Operating Income	492	412
Other Income - net	8	35
Other-Than-Temporary Impairments	0	17
Interest Expense	114	89
Income from Continuing Operations Before Income Taxes	386	341
Income Taxes	131	98
Income from Continuing Operations After Income Taxes	255	243
Income from Discontinued Operations (net of income taxes) (Note 8)	0	3
Net Income	255	246
Net Income Attributable to Noncontrolling Interests	5	5
Net Income Attributable to PPL Corporation	250	241
Amounts Attributable to PPL Corporation:
Income from Continuing Operations After Income Taxes	250	238
Income from Discontinued Operations (net of income taxes)	0	3
Net Income	$250	$241
Income from Continuing Operations After Income Taxes Available to PPL Corporation Common Shareowners:
Basic	0.66	0.63
Diluted	0.66	0.63
Net Income Available to PPL Corporation Common Shareowners:
Basic	0.66	0.64
Diluted	0.66	0.64
Dividends Declared Per Share of Common Stock	0.35	0.345
Weighted-Average Shares of Common Stock Outstanding (in thousands)
Basic	377,717	375,112
Diluted	377,986	375,409

1_CONDENSED CONSOLIDATED STATEM

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Millions	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Cash Flows from Operating Activities
Net income	$255	$246
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation	128	110
Amortization of recoverable transition costs and other	51	93
Defined benefits	(115)	(6)
Impairment of assets	3	51
Deferred income taxes and investment tax credits	(5)	(12)
Unrealized (gains) losses on derivatives, and other hedging activities	107	(103)
Gains related to the extinguishment of notes	0	(29)
Provision for Montana hydroelectric litigation	56	0
Other	31	22
Change in current assets and current liabilities
Accounts receivable	(101)	(9)
Accounts payable	178	(99)
Unbilled revenues	(176)	31
Prepayments	(94)	(107)
Price risk management assets and liabilities	(15)	(81)
Taxes	80	51
Counterparty collateral	351	137
Other	76	3
Other operating activities
Other assets	(22)	(6)
Other liabilities	10	18
Net cash provided by operating activities	798	310
Cash Flows from Investing Activities
Expenditures for property, plant and equipment	(283)	(270)
Proceeds from the sale of the Long Island generation business	124	0
Expenditures for intangible assets	(22)	(30)
Purchases of nuclear plant decommissioning trust investments	(49)	(94)
Proceeds from the sale of nuclear plant decommissioning trust investments	44	87
Net (increase) decrease in restricted cash and cash equivalents	(130)	156
Other investing activities	6	1
Net cash used in investing activities	(310)	(150)
Cash Flows from Financing Activities
Issuance of long-term debt	597	0
Retirement of long-term debt	0	(421)
Issuance of common stock	14	16
Payment of common stock dividends	(131)	(126)
Net decrease in short-term debt	(36)	(90)
Other financing activities	(14)	(8)
Net cash provided by (used in) financing activities	430	(629)
Effect of Exchange Rates on Cash and Cash Equivalents	5	0
Net Increase (Decrease) in Cash and Cash Equivalents	923	(469)
Cash and Cash Equivalents at Beginning of Period	801	1,100
Cash and Cash Equivalents at End of Period	$1,724	$631

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
In Millions	3 Months Ended Mar. 31, 2010		12 Months Ended Dec. 31, 2009
Current Assets
Cash and cash equivalents	$1,724		$801
Restricted cash and cash equivalents	236		105
Accounts receivable (less reserve: 2010, $37; 2009, $37)
Customer	503		409
Other	56		59
Unbilled revenues	776		600
Fuel, materials and supplies	339		357
Prepayments	195		102
Price risk management assets	3,348		2,157
Other intangibles	24		25
Assets held for sale	0		127
Other current assets	20		10
Total Current Assets	7,221		4,752
Investments
Nuclear plant decommissioning trust funds	573		548
Other investments	65		65
Total Investments	638		613
Electric plant
Transmission and distribution	8,474		8,686
Generation	10,609		10,493
General	907		899
Electric plant in service	19,990		20,078
Construction work in progress	568		567
Nuclear fuel	531		506
Electric plant	21,089		21,151
Gas and oil plant	68		68
Other property	157		166
Property, plant and equipment, gross	21,314		21,385
Less: accumulated depreciation	8,256		8,211
Property, Plant and Equipment, net (a)	13,058	[1]	13,174	[1]
Regulatory and Other Noncurrent Assets
Regulatory assets	529		531
Goodwill	754		806
Other intangibles (a)	608	[1]	615	[1]
Price risk management assets	1,713		1,274
Other noncurrent assets	414		400
Total Regulatory and Other Noncurrent Assets	4,018		3,626
Total Assets	24,935		22,165
Current Liabilities
Short-term debt	589		639
Accounts payable	796		619
Taxes	172		92
Interest	129		113
Dividends	137		135
Price risk management liabilities	2,391		1,502
Counterparty collateral	707		356
Other current liabilities	871		726
Total Current Liabilities	5,792		4,182
Long-term Debt	7,652		7,143
Deferred Credits and Other Noncurrent Liabilities
Deferred income taxes and investment tax credits	2,313		2,153
Price risk management liabilities	853		582
Accrued pension obligations	1,104		1,283
Asset retirement obligations	422		416
Other deferred credits and noncurrent liabiliites	588		591
Total Deferred Credits and Other Noncurrent Liabilities	5,280		5,025
Commitments and Contingent Liabilities (Note 10)
PPL Corporation Shareowners' Common Equity
Common stock - $0.01 par value (a)	4	[2]	4	[2]
Capital in excess of par value	2,310		2,280
Earnings reinvested	3,866		3,749
Accumulated other comprehensive loss	(288)		(537)
Total PPL Corporation Shareowners' Common Equity	5,892		5,496
Noncontrolling Interests	319		319
Total Equity	6,211		5,815
Total Liabilities and Equity	$24,935		$22,165
[1](a) At March 31, 2010, includes $421 million of PP&E, consisting primarily of "Generation" (including leasehold improvements), and $11 million of "Other intangibles" from the consolidation of a VIE. At December 31, 2009, these balances were $424 million and $11 million. See Note 6 for additional information.
[2](a) 780,000 shares authorized; 378,131 shares and 377,183 shares issued and outstanding at March 31, 2010 and December 31, 2009.

PARENTHETICAL DATA TO THE CONDE

PARENTHETICAL DATA TO THE CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
In Millions, except Share data in Thousands	Mar. 31, 2010	Dec. 31, 2009
Condensed Consolidated Balance Sheets
Accounts receivable reserve for uncollectible accounts	$37	$37
PP&E, net from the consolidation of a VIE	421	424
Other intangibles from the consolidation of a VIE	$11	$11
Common stock par value	0.01	0.01
Common stock shares authorized	780,000	780,000
Common stock shares issued	378,131	377,183
Common stock shares outstanding	378,131	377,183

2_CONDENSED CONSOLIDATED STATEM

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (USD $)
In Millions, except Share data in Thousands	Common stock		Capital in excess of par value		Earnings reinvested		Accumulated other comprehensive loss	Non-controlling interests		Total
Balance at beginning of period at Dec. 31, 2008	$4		$2,196		$3,862		($985)	$319		$5,396
Balance at beginning of period - shares (a) at Dec. 31, 2008	374,581	[1]
Common stock issued (b)			34	[2]						34	[2]
Common stock shares issued (a)	1,050	[1]
Common stock repurchased			(1)							(1)
Common stock shares repurchased (a)	(34)	[1]
Stock-based compensation			(1)							(1)
Net income					241			5		246
Dividends, dividend equivalents and distributions (c)					(130)	[3]		(5)	[3]	(135)	[3]
Other comprehensive income							17			17
Balance at end of period - shares (a) at Mar. 31, 2009	375,597	[1]
Balance at end of period at Mar. 31, 2009	4		2,228		3,973		(968)	319		5,556
Balance at beginning of period at Dec. 31, 2009	4		2,280		3,749		(537)	319		5,815
Balance at beginning of period - shares (a) at Dec. 31, 2009	377,183	[1]								377,183
Common stock issued (b)			33	[2]						33	[2]
Common stock shares issued (a)	948	[1]
Stock-based compensation			(3)							(3)
Net income					250			5		255
Dividends, dividend equivalents and distributions (c)					(133)	[3]		(5)	[3]	(138)	[3]
Other comprehensive income							249			249
Balance at end of period - shares (a) at Mar. 31, 2010	378,131	[1]								378,131
Balance at end of period at Mar. 31, 2010	$4		$2,310		$3,866		($288)	$319		$6,211
[1](a) Shares in thousands. Each share entitles the holder to one vote on any question presented to any shareowners' meeting.
[2](b) The three months ended March 31, 2010 and 2009, include common stock shares issued through the ICP, ICPKE, DRIP, ESOP, and DDCP. "Capital in excess of par value" for the three months ended March 31, 2010 and 2009 includes $8 million and $7 million for a company contribution to the ESOP.
[3](c) "Earnings reinvested" includes dividends and dividend equivalents on PPL Corporation common stock and restricted stock units. "Noncontrolling interests" includes dividends and distributions to noncontrolling interests.

3_CONDENSED CONSOLIDATED STATEM

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)
In Millions	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Condensed Consolidated Statements of Comprehensive Income
Net income	$255	$246
Amounts arising during the period - gains (losses), net of tax (expense) benefit:
Foreign currency translation adjustments, net of tax of $(1), $0	(93)	(92)
Available-for-sale securities, net of tax of $(11), $6	10	(6)
Qualifying derivatives, net of tax of $(262), $(67)	377	101
Reclassifications to net income - (gains) losses, net of tax expense (benefit):
Available-for-sale securities, net of tax of $2, $(1)	(2)	1
Qualifying derivatives, net of tax of $37, $(13)	(60)	8
Defined benefit plans:
Prior service costs, net of tax of $(3), $(2)	2	4
Net actuarial loss, net of tax of $0, $(1)	14	1
Transition obligation	1	0
Total other comprehensive income attributable to PPL Corporation	249	17
Comprehensive income	504	263
Comprehensive income attributable to noncontrolling interests	5	5
Comprehensive income attributable to PPL Corporation	$499	$258

4_PARENTHETICAL DATA TO THE CON

PARENTHETICAL DATA TO THE CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) (USD $)
In Millions	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Condensed Consolidated Statements of Comprehensive Income
Tax effect of foreign currency translation adjustments arising during the period	($1)	$0
Tax effect of available-for-sale securities arising during the period	(11)	6
Tax effect of qualifying derivatives arising during the period	(262)	(67)
Tax effect of available-for-sale securities reclassified to net income	2	(1)
Tax effect of qualifying derivatives reclassified to net income	37	(13)
Tax effect of prior service costs reclassified to net income	(3)	(2)
Tax effect of net actuarial loss reclassified to net income	0	(1)
Tax effect of transition obligation reclassified to net income	$0	$0

Interim Financial Statements

Interim Financial Statements
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Interim Financial Statements	1. Interim Financial Statements (PPL, PPL Energy Supply and PPL Electric) Terms and abbreviations appearing in Combined Notes to Condensed Consolidated Financial Statements are explained in the glossary.Dollars are in millions, except share data, unless otherwise noted. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. for interim financial information and with the instructions to Form 10-Q and Article10 of Regulation S-X and, therefore, do not include all of the information and footnotes required by accounting principles generally accepted in the U.S. for complete financial statements.In the opinion of management, all adjustments considered necessary for a fair presentation in accordance with accounting principles generally accepted in the U.S. are reflected in the condensed consolidated financial statements.All adjustments are of a normal recurring nature, except as otherwise disclosed.Each Registrant's Balance Sheet at December31, 2009, is derived from that Registrant's 2009 audited Balance Sheet.The financial statements and notes thereto should be read in conjunction with the financial statements and notes contained in each Registrant's 2009 Form 10-K.The results of operations for the three months ended March31, 2010, are not necessarily indicative of the results to be expected for the full year ending December31, 2010, or other future periods, because results for interim periods can be disproportionately influenced by various factors and developments and seasonal variations. The classification of certain prior period amounts has been changed to conform to the presentation in the March31, 2010 financial statements. (PPL and PPL Energy Supply) Discontinued operations for the three months ended March 31, 2010 and 2009 include the activities of certain businesses that were sold in 2010 and 2009.See Note 8 for additional information.The Statements of Cash Flows do not separately report the cash flows of the Discontinued Operations.

Summary of Significant Accounti

Summary of Significant Accounting Policies
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies (PPL, PPL Energy Supply and PPL Electric) The following accounting policy disclosures represent updates to the "Summary of Significant Accounting Policies" Note in each Registrant's 2009 Form 10-K and should be read in conjunction with that discussion. General Business and Consolidation(PPL, PPL Energy Supply and PPL Electric) PPL, PPL Energy Supply and PPL Electric consolidate a VIE when they are determined to be the primary beneficiary of the entity.As described below in "New Accounting Guidance Adopted," new accounting guidance modified the criteria for determining the primary beneficiary of a VIE.See Note 6 for additional information. Accounts Receivable (PPL and PPL Electric) PPL Electric's customers may elect to procure generation supply from an alternative supplier.As a result of a PUC-approved purchase of accounts receivable program, beginning in the first quarter of 2010, PPL Electric has purchased certain accounts receivable from alternative suppliers at a nominal discount, which reflects a provision for uncollectible accounts.Additionally, PPL Electric receives a nominal fee for administering the program.The alternative suppliers (including PPL EnergyPlus) have no continuing involvement or interest in the purchased accounts receivable.The purchased accounts receivable are initially recorded at fair value using a market approach based on the purchase price paid and are classified as Level 2 in the fair value hierarchy.During the three months ended March31, 2010, PPL Electric purchased $109 million of accounts receivable, which included $33 million from PPL EnergyPlus. Other Foreign Currency Translation(PPL and PPL Energy Supply) During 2010 and 2009, the British pound sterling weakened in relation to the U.S. dollar.Changes in these exchange rates resulted in a foreign currency translation loss of $96 million for the three months ended March31, 2010, which primarily reflected a $255 million reduction to PPE offset by a reduction of $159 million to net liabilities.Changes in these exchange rates resulted in a foreign currency translation loss of $93 million for the three months ended March 31, 2009, which primarily reflected a $226 million reduction to PPE offset by a reduction of $133 million to net liabilities.These translation losses are recorded in AOCI. (PPL, PPL Energy Supply and PPL Electric) New Accounting Guidance Adopted Accounting for Transfers of Financial Assets Effective January 1, 2010, PPL and its subsidiaries adopted accounting guidance issued to revise the accounting for transfers of financial assets.This guidance: eliminates the concept of a qualifying special-purpose entity (QSPE); therefore, QSPEs will be subject to consolidation guidance; changes the requirements for the derecognition of financial assets; establishes new criteria for reporting the transfer of a portion of a financial asset as a sale; requires transferors to initially recognize, at fair value, assets obtained and liabilities incurred as a result of a transfer accounted for as a sale; and requires enhanced disclosures to improve the transparency around transfers of

Segment and Related Information

Segment and Related Information
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Segment and Related Information	3. Segment and Related Information (PPL and PPL Energy Supply) See the "Segment and Related Information" Note in each Registrant's 2009 Form 10-K for a discussion of reportable segments.Financial data for the segments are: Three Months Ended March31, PPL PPL Energy Supply 2010 2009 2010 2009 Income Statement Data Revenues from external customers Supply (a) $ 2,008 $ 1,271 $ 2,121 $ 1,766 International Delivery 213 183 213 183 Pennsylvania Delivery 812 890 $ 3,033 $ 2,344 $ 2,334 $ 1,949 Intersegment revenues (b) Supply $ 115 $ 497 Pennsylvania Delivery 1 20 Net Income Attributable to PPL/PPL Energy Supply Supply (a) (c) $ 137 $ 105 $ 124 $ 104 International Delivery 76 87 76 87 Pennsylvania Delivery 37 49 $ 250 $ 241 $ 200 $ 191 PPL PPL Energy Supply March31, 2010 December31, 2009 March31, 2010 December31, 2009 Balance Sheet Data Total assets Supply $ 15,184 $ 12,766 $ 14,951 $ 12,508 International Delivery 4,770 4,516 4,770 4,516 Pennsylvania Delivery 4,981 4,883 $ 24,935 $ 22,165 $ 19,721 $ 17,024 (a) Includes impact from energy-related economic activity.See "Commodity Price Risk (Non-trading) - Economic Activity" in Note 14 for additional information. (b) See "PLR Contracts" and "NUG Purchases" in Note 11 for a discussion of the basis of accounting between reportable segments. (c) Includes the results of the Long Island generation business and 2009 includes the results of the majority of PPL Maine's hydroelectric generation business, which have been classified as Discontinued Operations.See Note 8 for additional information.

Earnings Per Share

Earnings Per Share
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Earnings Per Share	4. Earnings Per Share (PPL) Basic and diluted EPS, computed using the two-class method, and reconciliations of the amounts of income and shares of common stock (in thousands) used in the calculation are: Three Months Ended March31, 2010 2009 Income (Numerator) Income from continuing operations after income taxes attributable to PPL $ 250 $ 238 Less amounts allocated to participating securities 1 1 Income from continuing operations after income taxes available to PPL common shareowners $ 249 $ 237 Income from discontinued operations (net of income taxes) attributable to PPL $ 3 Net income attributable to PPL $ 250 $ 241 Less amounts allocated to participating securities 1 1 Net income available to PPL common shareowners $ 249 $ 240 Shares of Common Stock (Denominator) Weighted-average shares - Basic EPS 377,717 375,112 Addincremental non-participating securities: Stock options and performance units 269 297 Weighted-average shares - Diluted EPS 377,986 375,409 Basic EPS Available to PPL common shareowners: Income from continuing operations after income taxes $ 0.66 $ 0.63 Income from discontinued operations (net of income taxes) 0.01 Net Income $ 0.66 $ 0.64 Diluted EPS Available to PPL common shareowners: Income from continuing operations after income taxes $ 0.66 $ 0.63 Income from discontinued operations (net of income taxes) 0.01 Net Income $ 0.66 $ 0.64 The following stock options to purchase PPL common stock and performance units were excluded from the computations of diluted EPS because the effect would have been antidilutive. Three Months Ended March31, (Shares in thousands) 2010 2009 Stock options 4,154 2,648 Performance units 77 2 During the three months ended March31, 2010, PPL issued 263,860 shares of common stock related to the exercise of stock options, vesting of restricted stock and restricted stock units and conversion of stock units granted to directors under its stock-based compensation plans.In addition, PPL issued 234,211 and 449,881 shares of common stock related to its ESOP and its DRIP.

Income Taxes

Income Taxes
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Income Taxes	5. Income Taxes (PPL, PPL Energy Supply and PPL Electric) Reconciliations of effective income tax rates are: Three Months Ended March31, PPL 2010 2009 Reconciliation of Income Tax Expense Federal income tax on Income from Continuing Operations Before Income Taxes at statutory tax rate - 35% $ 135 $ 119 Increase (decrease) due to: State income taxes 15 5 State net operating loss valuation allowance (8 ) Impact of lower U.K. income tax rates (4 ) (7 ) Change in federal and state tax reserves (8 ) 8 Change in foreign tax reserves (14 ) Domestic manufacturing deduction (4 ) (5 ) Health Care Reform (a) 8 Other (3 ) (8 ) (4 ) (21 ) Total income tax expense from continuing operations $ 131 $ 98 (a) Beginning in 2013, provisions within Health Care Reform eliminated the tax deductibility of retiree health care costs to the extent of federal subsidies received by plan sponsors that provide retiree prescription drug benefits equivalent to Medicare Part D Coverage.As a result, during the three months ended March 31, 2010, PPL recorded $8 million in deferred income tax expense.See Note 9 for additional information. Three Months Ended March31, PPL Energy Supply 2010 2009 Reconciliation of Income Tax Expense Federal income tax on Income from Continuing Operations Before Income Taxes at statutory tax rate - 35% $ 109 $ 89 Increase (decrease) due to: State income taxes 13 5 Impact of lower U.K. income tax rates (4 ) (7 ) Change in federal and state tax reserves (7 ) 3 Change in foreign tax reserves (14 ) Domestic manufacturing deduction (4 ) (5 ) Health Care Reform (a) 5 Other (6 ) 3 (24 ) Total income tax expense from continuing operations $ 112 $ 65 (a) Beginning in 2013, provisions within Health Care Reform eliminated the tax deductibility of retiree health care costs to the extent of federal subsidies received by plan sponsors that provide retiree prescription drug benefits equivalent to Medicare Part D Coverage.As a result, during the three months ended March 31, 2010, PPL Energy Supply recorded $5 million in deferred income tax expense.See Note 9 for additional information. Three Months Ended March31, PPL Electric 2010 2009 Reconciliation of Income Tax Expense Federal income tax on Income Before Income Taxes at statutory tax rate- 35% $ 22 $ 28 Increase (decrease) due to: State income taxes 3 3 Amortization of investment tax credits (1 ) (1 ) Change in federal and state tax reserves (2 ) (2 ) Other (1 ) (1 ) (1 ) (1 ) Total income tax expense $ 21 $ 27 Unrecognized Tax Benefits (PPL, PPL Energy Supply and PPL Electric) Changes to unrecognized tax benefits were as f

Variable Interest Entities

Variable Interest Entities
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Variable Interest Entities	6. Variable Interest Entities (PPL and PPL Energy Supply) In December 2001, a subsidiary of PPL Energy Supply entered into a $455 million operating lease arrangement, as lessee, for the development, construction and operation of a gas-fired combined-cycle generation facility located in Lower Mt. Bethel Township, Northampton County, Pennsylvania.This generation facility had a total capacity (winter rating) of 628 MW at March31, 2010.The owner/lessor of this generation facility, LMB Funding, LP, was created to own/lease the facility and incur the related financing costs.The initial lease term commenced on the date of commercial operation, which occurred in May 2004, and ends in December 2013.Under a residual value guarantee, if the generation facility is sold at the end of the lease term and the cash proceeds from the sale are less than the original acquisition cost, the subsidiary of PPL Energy Supply is obligated to pay up to 70.52% of the original acquisition cost.This residual value guarantee protects the other variable interest holders from losses related to their investments.LMB Funding, LP cannot extend or cancel the lease or sell the facility without the prior consent of the PPL Energy Supply subsidiary.As a result, LMB Funding, LP was determined to be a VIE and the subsidiary of PPL Energy Supply was considered the primary beneficiary that consolidates this VIE. The lease financing, which includes $437 million of "Long-term Debt" and $18 million of "Noncontrolling Interests" at March31, 2010, is secured by, among other things, the generation facility, the carrying amount of which is disclosed on the Balance Sheets.The debt matures at the end of the initial lease term.As a result of the consolidation, PPL and PPL Energy Supply have recorded interest expense in lieu of rent expense.For the three months ended March 31, 2010 and 2009, additional depreciation on the generation facility of $4 million and $3 million also was recorded.

Financing Activities

Financing Activities
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Financing Activities	7. Financing Activities Credit Arrangements and Short-term Debt (PPL and PPL Energy Supply) PPL Energy Supply had the following credit facilities in place at March31, 2010: Expiration Date Capacity Borrowed (a) Letters of Credit Issued Unused Capacity PPL Energy Supply Domestic Credit Facilities 364-day Syndicated Credit Facility (b) Sept-10 $ 400 $ 400 5-year Structured Credit Facility (c) Mar-11 300 n/a $ 282 18 5-year Syndicated Credit Facility (d) June-12 3,225 $ 285 474 2,466 3-year Bilateral Credit Facility (e) Mar-13 200 n/a 4 196 Total PPL Energy Supply Domestic Credit Facilities $ 4,125 $ 285 $ 760 $ 3,080 WPD Credit Facilities WPDH Limited 5-year Syndicated Credit Facility(f) Jan-13 150 148 n/a 2 WPD (South West) 3-year Syndicated Credit Facility(g) July-12 210 42 n/a 168 Uncommitted Credit Facilities(h) 64 14 3 47 Total WPD Credit Facilities(i) 424 204 3 217 (a) Amounts borrowed are recorded as "Short-term debt" on the Balance Sheets. (b) Under this facility, PPL Energy Supply has the ability to make cash borrowings and to request the lenders to issue up to $200 million of letters of credit.Borrowings generally bear interest at LIBOR-based rates plus a spread, depending upon the company's public debt rating. (c) Under this facility, PPL Energy Supply has the ability to request the lenders to issue letters of credit but cannot make cash borrowings.PPL Energy Supply's obligations under this facility are supported by a $300 million letter of credit issued on PPL Energy Supply's behalf under a separate, but related, $300 million five-year credit agreement, also expiring in March 2011. (d) Under this facility, PPL Energy Supply has the ability to make cash borrowings and to request the lenders to issue letters of credit.Borrowings generally bear interest at LIBOR-based rates plus a spread, depending upon the company's public debt rating.The borrowing outstanding at March31, 2010 bears interest at 0.84%. (e) In March 2010, PPL Energy Supply's 364-day $200 million bilateral credit facility was amended.The amendment included extending the expiration date to March 2013, thereby making it a three-year facility, and setting related fees based on the company's public debt rating.Under this facility, PPL Energy Supply can request the bank to issue letters of credit but cannot make cash borrowings. (f) Under this facility, WPDH Limited has the ability to make cash borrowings but cannot request the lenders to issue letters of credit.Borrowings under this facility bear interest at LIBOR-based rates plus a spread, depending on the company's public debt rating.The cash borrowings outstanding at March31, 2010 were comprised of a USD-denominated borrowing of $181 million, which eq

Acquisitions, Development and D

Acquisitions, Development and Divestures
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Acquisitions, Development and Divestitures	8. Acquisitions, Development and Divestitures (PPL, PPL Energy Supply and PPL Electric) PPL and its subsidiaries continuously evaluate strategic options and, from time to time, PPL and its subsidiaries negotiate with third parties regarding acquisitions and dispositions of businesses and assets, joint ventures and development projects, which may or may not result in definitive consummated transactions.Any such transactions may impact future financial results. Domestic Pending Acquisition (PPL) See Note 19 for information on PPL's April 2010 announcement of its pending acquisition of E.ON U.S., a limited liability company engaged, through its public utility subsidiaries LGE and KU, in the generation, transmission, distribution and sale of electricity and the distribution and sale of natural gas, primarily in Kentucky. Development (PPL and PPL Energy Supply) PPL Energy Supply applied for DOE loan guarantees for the 125 MW Holtwood expansion project and, through its subsidiary PPL Montana, for the 28 MW Rainbow redevelopment project.In April 2010, PPL Energy Supply and PPL Montana notified the DOE that they were withdrawing their applications for both projects citing improvements in the financial markets. In 2008, a PPL subsidiary submitted a COLA to the NRC for the proposed Bell Bend nuclear generating unit (Bell Bend) to be built adjacent to PPL's Susquehanna plant.Also in 2008, the COLA was formally docketed and accepted for review by the NRC.The NRC continues to review the COLA.In 2009, the NRC published its official review schedule that culminates with issuance of Bell Bend's final safety evaluation report in 2012, after which public hearings will be held before Bell Bend's license can be issued. In 2008, a PPL subsidiary submitted Parts I and II of an application for a federal loan guarantee for Bell Bend to the DOE.In 2009, the DOE announced that it was working to finalize loan guarantees related to four projects, none of which was Bell Bend.None of the ten applicants who submitted Part II applications has been formally eliminated by the DOE; however, the DOE has stated that the $18.5 billion currently appropriated to support new nuclear projects would not likely be enough for more than four projects.A PPL subsidiary submits quarterly application updates for Bell Bend to the DOE to remain active in the loan application process. The President's proposed budget for fiscal year 2011 includes an additional $36 billion of loan guarantees for nuclear projects.If this increased loan guarantee authorization is approved, PPL believes that Bell Bend could be a candidate for a share of such additional guarantees.However, PPL has made no decision to proceed with construction of Bell Bend and expects that such decision will not be made for several years given the anticipated lengthy NRC license approval process.Additionally, PPL has announced that it does not expect to proceed with construction absent a joint arrangement with other interested parties and a federal loan guarantee or other acceptable financing.PPL and its subsidiaries are currently authorized by PPL's Board of Directors to spend up to $111 million on the COLA and

Defined Benefits

Defined Benefits
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Defined Benefits	9. Defined Benefits (PPL and PPL Energy Supply) Net periodic defined benefit costs (credits) were: Three Months Ended March31, Pension Benefits Other Postretirement Benefits U.S. U.K. 2010 2009 2010 2009 2010 2009 PPL Service cost $ 15 $ 15 $ 5 $ 2 $ 2 $ 1 Interest cost 37 36 39 37 7 7 Expected return on plan assets (44 ) (42 ) (50 ) (45 ) (5 ) (4 ) Amortization of: Transition (asset) obligation (1 ) 2 2 Prior service cost 5 5 1 1 2 2 Actuarial loss 1 1 12 1 1 1 Net periodic defined benefit costs (credits) prior to termination benefits 14 14 7 (4 ) 9 9 Termination benefits (a) 9 Net periodic defined benefit costs (credits) $ 14 $ 23 $ 7 $ (4 ) $ 9 $ 9 PPL Energy Supply Service cost $ 1 $ 1 $ 5 $ 2 Interest cost 2 2 39 37 Expected return on plan assets (2 ) (2 ) (50 ) (45 ) Amortization of: Prior service cost 1 1 Actuarial loss 1 1 12 1 Net periodic defined benefit costs (credits) $ 2 $ 2 $ 7 $ (4 ) (a) Relates to 2009 workforce reductions.See "Separation Benefits" below for additional information. (PPL Energy Supply and PPL Electric) In addition to the specific plans it sponsors, PPL Energy Supply is also allocated costs of defined benefit plans sponsored by PPL Services, based on their participation in those plans.PPL Electric does not directly sponsor any defined benefit plans.PPL Electric was allocated costs of defined benefit plans sponsored by PPL Services, based on its participation in those plans.PPL Services allocated the following amounts to PPL Energy Supply and PPL Electric, including amounts applied to accounts that are further distributed between capital and expense. Three Months Ended March31, 2010 2009 PPL Energy Supply $ 9 $ 8 PPL Electric 7 7 (PPL and PPL Energy Supply) Expected Cash Flows - U.K. Pension Plans During the three months ended March 31, 2010, WPD contributed $22 million to its principal pension scheme.Additional pension contributions of $198 million will be recorded during the second quarter of 2010.In total, pension contributions are estimated to be $228 million in 2010.These additional contributions are being made to prepay future contribution requirements. Effective April 1, 2010, WPD's primary pension plan will be closed to most new employees, except for those meeting specific grandfathered participation righ

Commitments and Contingencies

Commitments and Contingencies
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Energy Purchases, Energy Sales and Other Commitments Energy Purchase Commitments (PPL and PPL Energy Supply) PPL and PPL Energy Supply enter into long-term purchase contracts to supply the fuel requirements for generation facilities.These contracts include commitments to purchase coal, emission allowances, limestone, natural gas, oil and nuclear fuel.These long-term contracts extend through 2019, with the exception of a limestone contract that extends through 2030.PPL and PPL Energy Supply also enter into long-term contracts for the storage and transportation of natural gas.The long-term natural gas storage contracts extend through 2015, and the long-term natural gas transportation contracts extend through 2032.Additionally, PPL and PPL Energy Supply have entered into long-term contracts to purchase power that extend through 2017, with the exception of long-term power purchase agreements for the full output of two wind farms that extend through 2027. (PPL and PPL Electric) From 2007 through 2009 PPL Electric conducted six competitive solicitations to purchase PLR supply in 2010 for customers who do not choose an alternative supplier. In October 2009, PPL Electric purchased 2010 supply for fixed-price default service to large commercial and large industrial customers who elect to take that service.In November 2009, PPL Electric purchased supply to provide hourly default service to large commercial and industrial customers in 2010. In June 2009, the PUC approved PPL Electric's plan to purchase its PLR supply for January 2011 through May 2013.Through April 2010, PPL Electric has conducted four of its 14 planned competitive solicitations.The solicitations include a mix of long-term and short-term purchases for customer supply, including contracts for load-following, spot, block and alternative energy credits. (PPL Energy Supply and PPL Electric) See Note 11 for information on the power supply agreements between PPL EnergyPlus and PPL Electric. Energy Sales Commitments (PPL and PPL Energy Supply) In connection with its marketing activities or hedging strategyfor its power plants, PPL Energy Supply has entered into long-term power sales contracts that extend through 2023, excluding a long-term retail sales agreement for the full output from a solar generator that extends through 2035.All long-term contracts were executed at prices approximating market prices at the time of execution. (PPL Energy Supply and PPL Electric) See Note 11 for information on the power supply agreements between PPL EnergyPlus and PPL Electric. PPL Montana Hydroelectric License Commitments(PPL and PPL Energy Supply) PPL Montana owns and operates 11 hydroelectric facilities and one storage reservoir licensed by the FERC under long-term licenses pursuant to the Federal Power Act.Pursuant to Section 8(e) of the Federal Power Act, the FERC approved the transfer from Montana Power to PPL Montana of all pertinent licenses and any amendments in connection with the Montana Asset Purchase Agreement. The Kerr Dam Project license (50-year term) was jointly issued by the FERC to Montana Power and the Confederated

Related Party Transactions

Related Party Transactions
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Related Party Transactions	11. Related Party Transactions (PPL Energy Supply and PPL Electric) PLR Contracts PPL Electric had power purchase agreements with PPL EnergyPlus in which PPL EnergyPlus supplied PPL Electric's entire PLR load.These contracts expired December31, 2009.Under these contracts, PPL EnergyPlus provided electricity at the predetermined capped prices that PPL Electric was authorized to charge its PLR customers.For the three months ended March31, 2009, these purchases totaled $497 million.These purchases included nuclear decommissioning recovery and amortization of an up-front contract payment. PPL Electric held competitive solicitations for PLR generation supply in 2010 and 2011.PPL EnergyPlus is providing a portion of this supply.These purchases totaled $115 million during the three months ended March31, 2010. The purchases discussed above are included in the Statements of Income as "Wholesale energy marketing to affiliate" by PPL Energy Supply, and as "Energy purchases from affiliate" by PPL Electric. See Note 2 for additional information regarding PPL Electric's purchases of accounts receivable from PPL EnergyPlus. Under the standard Supply Master Agreement for the bid solicitation process, PPL Electric requires all suppliers to post collateral once credit exposures exceed defined credit limits.In no instance is PPL Electric required to post collateral to suppliers under these supply contracts.PPL EnergyPlus is required to post collateral with PPL Electric:(a) when the market price of electricity to be delivered by PPL EnergyPlus exceeds the contract price for the forecasted quantity of electricity to be delivered and (b) this market price exposure exceeds a contractual credit limit.Based on the current credit rating of PPL Energy Supply, as guarantor, this credit limit is $35 million. PPL Energy Supply has credit exposure to PPL Electric under certain energy supply contracts.See Note 13 for additional information on this credit exposure. NUG Purchases PPL Electric has a reciprocal contract with PPL EnergyPlus to sell electricity purchased under contracts with NUGs.PPL Electric purchases electricity from the NUGs at contractual rates and then sells the electricity at the same price to PPL EnergyPlus.For the three months ended March31, 2010 and 2009, these NUG purchases totaled $1 million and $20 million.These amounts are included in the Statements of Income as "Wholesale electric to affiliate" by PPL Electric, and as "Energy purchases from affiliate" by PPL Energy Supply.The final NUG contract will expire in 2014. Allocations of Corporate Service Costs PPL Services provides corporate functions such as financial, legal, human resources and information services.PPL Services charges the respective PPL subsidiaries for the cost of such services when they can be specifically identified.The cost of these services that is not directly charged to PPL subsidiaries is allocated to certain subsidiaries based on an average of the subsidiaries' relative invested capital, operation and maintenance expenses, and number of employees.PPL Services allocated the following amounts, which PPL management believes are reasonable, to PPL Energy

Other Income - net

Other Income - net
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Other Income - net	12. Other Income - net (PPL, PPL Energy Supply and PPL Electric) The breakdown of "Other Income - net" was: Three Months Ended March31, 2010 2009 PPL Other Income Earnings on securities in the NDT funds $ 6 $ 1 Economic foreign currency hedges 2 1 Interest income 1 7 Gains related to the extinguishment of notes (a) 29 Miscellaneous - Domestic 1 1 Total 10 39 Other Deductions Miscellaneous - Domestic 2 4 Other Income - net $ 8 $ 35 PPL Energy Supply Other Income Earnings on securities in the NDT funds $ 6 $ 1 Economic foreign currency hedges 2 1 Gains related to the extinguishment of notes (a) 25 Interest income 5 Miscellaneous - Domestic 1 1 Total 9 33 Other Deductions Miscellaneous - Domestic 2 3 Other Income - net $ 7 $ 30 PPL Electric Other Income Interest income $ 2 Miscellaneous $ 1 Other Income - net $ 1 $ 2 (a) In 2009, PPL Energy Supply completed tender offers to purchase up to $250 million aggregate principal amount of certain of its outstanding senior notes for $220 million, resulting in a $25 million net gain.PPL recorded an additional net gain of $4 million as a result of reclassifying gains and losses on related cash flow hedges from AOCI into earnings.

Fair Value Measurements and Cre

Fair Value Measurements and Credit Concentrations
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Fair Value Measurements and Credit Concentrations	13. Fair Value Measurements and Credit Concentrations (PPL, PPL Energy Supply and PPL Electric) Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price).PPL and its subsidiaries use, as appropriate, a market approach (generally, data from market transactions), an income approach (generally, present value techniques and option-pricing models), and/or a cost approach (generally, replacement cost) to measure the fair value of an asset or liability.These valuation approaches incorporate inputs such as observable, independent market data and/or unobservable data that management believes are predicated on the assumptions market participants would use to price an asset or liability.These inputs may incorporate, as applicable, certain risks such as nonperformance risk, which includes credit risk. Recurring Fair Value Measurements The assets and liabilities measured at fair value were: March31, 2010 December31, 2009 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 PPL Assets Cash and cash equivalents $ 1,724 $ 1,724 $ 801 $ 801 Restricted cash and cash equivalents 259 259 129 129 Price risk management assets: Energy commodities 4,964 3 $ 4,903 $ 58 3,354 3 $ 3,234 $ 117 Interest rate swaps 50 50 50 50 Foreign currency exchange contracts 10 10 15 15 Cross-currency swaps 37 37 12 12 5,061 3 5,000 58 3,431 3 3,311 117 NDT funds: Cash and cash equivalents 7 7 7 7 Equity securities: U.S. large-cap 276 188 88 259 176 83 U.S. mid/small-cap 107 80 27 101 75 26 Debt securities: U.S. Treasury 74 74 74 74 U.S. government agency 8 8 9 9 Municipality 65 65 65 65 Investment-grade corporate 33 33 29 29 Residential mortgage-backed securities 1 1 1 1 Receivables/payables, net 2 2 3 3 573 349 224 548 332 216 Auction rate securities 25 25 25 25 $ 7,642 $ 2,335 $ 5,224 $ 83

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Derivative Instruments and Hedging Activities	14. Derivative Instruments and Hedging Activities Risk Management Objectives (PPL, PPL Energy Supply and PPL Electric) PPL has a risk management policy approved by the Board of Directors to manage market risk and counterparty credit risk.The RMC, comprised of senior management and chaired by the Chief Risk Officer, oversees the risk management function.Key risk control activities designed to ensure compliance with the risk policy and detailed programs include, but are not limited to, credit review and approval, validation of transactions and market prices, verification of risk and transaction limits, VaR analyses, portfolio stress tests, gross margin at risk analyses, sensitivity analyses, and daily portfolio reporting, including open positions, determinations of fair value, and other risk management metrics. Market risk is the potential loss PPL and its subsidiaries may incur as a result of price changes associated with a particular financial or commodity instrument. PPL and PPL Energy Supply are exposed to market risk from: commodity price, basis and volumetric risks for energy and energy-related products associated with the sale of electricity from its generating assets and other electricity marketing activities and the purchase of fuel and fuel-related commodities for generating assets, as well as for proprietary trading activities; interest rate and price risk associated with debt used to finance operations, as well as debt and equity securities in NDT funds and defined benefit plans; and foreign currency exchange rate risk associated with investments in U.K. affiliates, as well as purchases of equipment in currencies other than U.S. dollars. PPL and PPL Energy Supply utilize forward contracts, futures contracts, options, swaps and structured deals such as tolling agreements as part of the risk management strategy to minimize unanticipated fluctuations in earnings caused by changes in commodity prices, interest rates and foreign currency exchange rates.All derivatives are recognized on the balance sheet at their fair value, unless they qualify for NPNS. PPL and PPL Electric are exposed to market price and volumetric risks from PPL Electric's obligation as PLR.The PUC has approved a cost recovery mechanism that allows PPL Electric to pass through to customers the cost associated with fulfilling its PLR obligation.This cost recovery mechanism substantially eliminates PPL Electric's exposure to market price risk.PPL Electric also mitigates its exposure to volumetric risk by entering into full-requirements load following supply agreements for its customers.These supply agreements transfer the volumetric risk associated with the PLR obligation to the energy suppliers. Credit risk is the potential loss PPL and its subsidiaries may incur due to a counterparty's non-performance, including defaults on payments and energy commodity deliveries. PPL and PPL Energy Supply are exposed to credit risk from: commodity derivatives with its energy trading partners, which include other energy companies, fuel suppliers, and financial institutions; interest rate derivatives with financial institutions; and foreign currency derivatives

Goodwill

Goodwill
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Goodwill	15. Goodwill (PPL and PPL Energy Supply) The changes in the carrying amounts of goodwill by segment were: Supply International Delivery Total Balance at December31, 2009(a) $ 91 $ 715 $ 806 Effect of foreign currency exchange rates (52 ) (52 ) Balance at March31,2010 $ 91 $ 663 $ 754 (a) There were no accumulated impairment losses related to goodwill recorded at March 31, 2010 and December 31, 2009.

Asset Retirement Obligations

Asset Retirement Obligations
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Asset Retirement Obligations	16. Asset Retirement Obligations (PPL and PPL Energy Supply) The changes in the carrying amounts of AROs were as follows. Balance at December31, 2009 $ 426 Accretion expense 8 Obligations settled (3 ) Balance at March31, 2010 $ 431 The classification of AROs on the Balance Sheets was as follows. March31, 2010 December31, 2009 Current portion (a) $ 9 $ 10 Long-term portion (b) 422 416 Total $ 431 $ 426 (a) Included in "Other current liabilities." (b) Included in "Asset retirement obligations." The most significant ARO recorded by PPL and PPL Energy Supply relates to the decommissioning of the Susquehanna nuclear plant.The accrued nuclear decommissioning obligation was $355 million and $348 million at March31, 2010 and December31, 2009, and is included in "Asset retirement obligations" on the Balance Sheets. Assets in the NDT funds are legally restricted for purposes of settling PPL's and PPL Energy Supply's ARO related to the decommissioning of the Susquehanna station.The aggregate fair value of these assets was $573 million and $548 million at March31, 2010 and December31, 2009, and is included in "Nuclear plant decommissioning trust funds" on the Balance Sheets.See Notes 13 and 17 for additional information on these assets. In 2010, PPL Energy Supply plans to perform a site-specific study to estimate the cost to decommission each Susquehanna nuclear unit.The impact of this study on the recorded ARO and related PPE on the Balance Sheet is not now determinable, but could be significant.

Available-for-Sale Securities

Available-for-Sale Securities
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Available-for-Sale Securities	17. Available-for-Sale Securities (PPL and PPL Energy Supply) PPL and its subsidiaries classify auction rate securities and securities held by the NDT funds as available-for-sale.Available-for-sale securities are carried on the balance sheet at fair value.Unrealized gains and losses on these securities are reported, net of tax, in OCI or are recognized currently in earnings when a decline in fair value is determined to be other-than-temporary.The specific identification method is used to calculate realized gains and losses. The following table shows the amortized cost of available-for-sale securities and the gross unrealized gains and losses recorded in AOCI.See Note 13 for information regarding the fair value of these securities. March31, 2010 December31, 2009 Amortized Cost Gross Unrealized Gains Amortized Cost Gross Unrealized Gains PPL NDT funds: Cash and cash equivalents $ 7 $ 7 Equity securities: U.S. large-cap 176 $ 100 170 $ 89 U.S. mid/small-cap 66 41 65 36 Debt securities: U.S. Treasury 71 3 72 2 U.S. government agency 8 9 Municipality 64 1 63 2 Investment-grade corporate 31 2 28 1 Residential mortgage-backed securities 1 1 Receivables/payables, net 2 3 426 147 418 130 Auction rate securities 25 25 Total PPL $ 451 $ 147 $ 443 $ 130 PPL Energy Supply NDT funds: Cash and cash equivalents $ 7 $ 7 Equity securities: U.S. large-cap 176 $ 100 170 $ 89 U.S. mid/small-cap 66 41 65 36 Debt securities: U.S. Treasury 71 3 72 2 U.S. government agency 8 9 Municipality 64 1 63 2 Investment-grade corporate 31 2 28 1 Residential mortgage-backed securities 1 1 Receivables/payables, net 2 3 426 147 418 130 Auction rate securities 20 20 Total PPL Energy Supply $ 446 $ 147 $ 438 $ 130 Gross unrealized losses recorded in AOCI were insignificant at March 31, 2010 and December 31, 2009.Additionally, there were no securities with credit losses at March 31, 2010. The following table shows the scheduled maturity dates of debt securities held at March31, 2010. Maturity Less Than 1 Year Maturity 1-5 Years Maturity 5-10 Years Maturity in Excess of 10 Years Total PPL Amortized Cost $ 11 $ 62 $ 57 $ 70 $ 200 Fair Value 11 65 59 71 206

New Accounting Standards Pendin

New Accounting Standards Pending Adoption
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
New Accounting Guidance Pending Adoption	18. New Accounting Guidance Pending Adoption (PPL, PPL Energy Supply and PPL Electric) Subsequent Measurement - Cash Flow Hedges Effective April 1, 2010, PPL and its subsidiaries will prospectively adopt accounting guidance that was issued to clarify how an entity should reflect the subsequent measurement of cash flow hedges in AOCI if, during a prior period, hedge accounting was not permitted.This situation may arise if an entity's retrospective assessment of hedge effectiveness indicated that the hedging relationship had not been highly effective in a period, but the prospective assessment of hedge effectiveness showed an expectation that the hedging relationship would be highly effective in the future; therefore, the hedging relationship continued even though hedge accounting was not permitted for a certain period.This guidance: requires that the cumulative gain or loss on the derivative that is used to determine the maximum amount of gain or loss that may be reflected in AOCI exclude the gains or losses that occurred during the period when hedge accounting was not permitted; and requires that the cumulative change in the expected future cash flows on the hedged transaction exclude the changes related to the period when hedge accounting was not applied. The April 1, 2010 adoption is not expected to have a significant impact on PPL and its subsidiaries; however, the impact in future periods could be material.

Subsequent Event - Pending Acqu

Subsequent Event - Pending Acquisition of E.ON U.S.
	3 Months Ended Mar. 31, 2010
Notes to Financial Statements [Abstract]
Subsequent Event - Pending Acquisition of E.ON U.S.	19. Subsequent Event- Pending Acquisition of E.ON U.S. (PPL) On April 28, 2010, PPL announced that it had entered into a Purchase and Sale Agreement, dated April 28, 2010 (the Agreement), among E.ON US Investments, PPL, and E.ON AG. The Agreement provides for the sale of E.ON U.S. to PPL.Pursuant to the Agreement, at closing, PPL will acquire all of the outstanding limited liability company interests of E.ON U.S. for cash consideration of approximately $2.1 billion.In addition, pursuant to the Agreement, PPL agreed to assume approximately $925 million of pollution control bonds and to repay indebtedness owed by E.ON U.S. and its subsidiaries to E.ON US Investments and its affiliates.Such affiliate indebtedness is currently estimated to be approximately $4.6 billion.The aggregate consideration payable by PPL on closing, approximately $7.6 billion (including the assumed indebtedness), is subject to adjustment for specified incremental investment in E.ON U.S. that will potentially be made by E.ON US Investments and its affiliates prior to closing. E.ON U.S. and PPL have made customary representations and warranties and covenants in the Agreement.The transaction is subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the HSR Act, receipt of required regulatory approvals (including state regulators in Kentucky, Virginia and Tennessee, and the FERC) and the absence of injunctions or restraints imposed by governmental entities.Subject to receipt of required approvals, the transaction is expected to close by the end of 2010. The Agreement also contains certain customary termination rights for both PPL and E.ON US Investments, including a termination right for either party if the closing does not occur by April 28, 2011 (provided that either party may postpone such date to October 28, 2011 in the event that the only closing condition that remains to be satisfied is the receipt of regulatory approvals).In addition, E.ON US Investments has the right to terminate the Agreement if PPL has failed to consummate the transaction when it was otherwise obligated to do so.Upon such termination, subject to certain conditions, PPL may be required to pay to E.ON US Investments a termination fee of $450 million. Concurrently, and in connection with entering into the Agreement, PPL entered into a commitment letter with certain lenders pursuant to which, subject to the conditions set forth therein, the lenders committed to provide PPL with 364-day unsecured bridge financing of up to $6.5 billion (the Bridge Facility), the proceeds of which, if drawn upon, will be used at closing (i) to fund the consideration for the acquisition and (ii) to pay certain fees and expenses in connection with the acquisition.The Bridge Facility will be used as a backstop facility in the event that alternative financing is not available at or prior to the closing.The Bridge Facility, if drawn upon, will mature 364 days after closing.

Document Information

Document Information
	3 Months Ended Mar. 31, 2010
Document Information [Text Block]
Document Type	10-Q
Document Period End Date	2010-03-31
Amendment Flag	false

Entity Information

Entity Information (USD $)
	3 Months Ended Mar. 31, 2010	Apr. 30, 2010	Jun. 30, 2009
Entity [Text Block]
Entity Registrant Name	PPL Corp
Entity Central Index Key	0000922224
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$12,397,711,909
Entity Common Stock, Shares Outstanding		378,596,962
Document Fiscal Year Focus	2,010
Document Fiscal Period Focus	Q1