PPL Corp 10-K

Revenue from Contracts with Customers (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from contracts with customers [Line Items]

Reconciliation of revenue from contracts with customers [Table Text Block]

The following table reconciles "Operating Revenues" included in each Registrant's Statement of Income with revenues generated from contracts with customers for the years ended December 31:


	2025
	PPL		PPL Electric		LG&E		KU
Operating Revenues (a)(b)	$	9,042	$	3,113	$	1,748	$	2,064
Revenues derived from:
Alternative revenue programs (c)	153		21		(2)		—
Other (d)	(25)		(17)		(4)		(4)
Revenues from Contracts with Customers	$	9,170	$	3,117	$	1,742	$	2,060


	2024
	PPL		PPL Electric		LG&E		KU
Operating Revenues (a)(b)	$	8,462	$	2,876	$	1,648	$	1,964
Revenues derived from:
Alternative revenue programs (c)	5		(19)		13		16
Other (d)	(23)		(15)		(4)		(4)
Revenues from Contracts with Customers	$	8,444	$	2,842	$	1,657	$	1,976


	2023
	PPL		PPL Electric		LG&E		KU
Operating Revenues (a)(b)	$	8,312	$	3,008	$	1,613	$	1,884
Revenues derived from:
Alternative revenue programs (c)	1		5		(1)		(5)
Other (d)	(23)		(15)		(4)		(4)
Revenues from Contracts with Customers	$	8,290	$	2,998	$	1,608	$	1,875

(a)PPL includes $2,168 million, $2,024 million and $1,851 million for the twelve months ended December 31, 2025, 2024, and 2023 of revenues from external customers reported by the Rhode Island Regulated segment. PPL Electric represents revenues from external customers reported by the Pennsylvania Regulated segment and LG&E and KU, net of intercompany power sales and transmission revenues, represent revenues from external customers reported by the Kentucky Regulated segment. See Note 2 for additional information.

(b)PPL's transition services agreement associated with the RIE acquisition ended in the third quarter of 2024. In conjunction with the completion of the agreement, PPL conformed the presentation of RIE's and the Rhode Island Regulated segment's net metering charges with the presentation of the other segments, resulting in an increase in "Operating Revenues" and a corresponding increase in "Energy purchases" beginning on January 1, 2024. For the year ended December 31, 2023, $146 million of net metering was presented as a reduction of "Operating Revenues" on PPL's Statement of Income.

(c)This line item shows the over/under collection of rate mechanisms deemed alternative revenue programs with over-collections of revenue shown as positive amounts and under collections as negative amounts.

(d)Represents additional revenues outside the scope of revenues from contracts with customers such as leases and other miscellaneous revenues.

Disaggregation of Revenue [Table Text Block]

The following table shows revenues from contracts with customers disaggregated by customer class for the years ended December 31:



	Residential		Commercial		Industrial		Other (a)		Wholesale - municipality		Wholesale - other (b)		Transmission		Revenues from Contracts with Customers
PPL
2025
PA Regulated	$	1,656	$	448	$	56	$	54	$	—	$	—	$	903	$	3,117
RI Regulated (c)	1,249		671		83		86		—		—		213		2,302
KY Regulated	1,616		1,063		627		309		25		111		—		3,751

Total PPL	$	4,521	$	2,182	$	766	$	449	$	25	$	111	$	1,116	$	9,170



	Residential		Commercial		Industrial		Other (a)		Wholesale - municipality		Wholesale - other (b)		Transmission		Revenues from Contracts with Customers
2024
PA Regulated	$	1,502	$	418	$	47	$	57	$	—	$	—	$	818	$	2,842
RI Regulated (c)	1,150		593		91		10		—		—		176		2,020
KY Regulated	1,510		1,028		635		323		23		63		—		3,582

Total PPL	$	4,162	$	2,039	$	773	$	390	$	23	$	63	$	994	$	8,444

2023
PA Regulated	$	1,649	$	444	$	55	$	54	$	—	$	—	$	796	$	2,998
RI Regulated	640		228		20		793		—		—		170		1,851
KY Regulated	1,458		1,001		637		272		22		50		—		3,440
Corp and Other	—		—		—		1		—		—		—		1
Total PPL	$	3,747	$	1,673	$	712	$	1,120	$	22	$	50	$	966	$	8,290

PPL Electric
2025	$	1,656	$	448	$	56	$	54	$	—	$	—	$	903	$	3,117
2024	$	1,502	$	418	$	47	$	57	$	—	$	—	$	818	$	2,842
2023	$	1,649	$	444	$	55	$	54	$	—	$	—	$	796	$	2,998

LG&E
2025	$	809	$	540	$	187	$	139	$	—	$	67	$	—	$	1,742
2024	$	754	$	518	$	188	$	147	$	—	$	50	$	—	$	1,657
2023	$	751	$	517	$	189	$	104	$	—	$	47	$	—	$	1,608

KU
2025	$	807	$	523	$	440	$	169	$	25	$	96	$	—	$	2,060
2024	$	756	$	510	$	447	$	176	$	23	$	64	$	—	$	1,976
2023	$	707	$	484	$	448	$	168	$	22	$	46	$	—	$	1,875

(a)Primarily includes revenues from pole attachments, street lighting, other public authorities and other non-core businesses. For the years ended December 31, 2023, the Rhode Island Regulated segment primarily includes open access tariff revenues, which are calculated on combined customer classes.

(b)Includes wholesale power and transmission revenues. LG&E and KU amounts include intercompany power sales and transmission revenues, which are eliminated upon consolidation at PPL.

(c)PPL's transition services agreement associated with the RIE acquisition ended in the third quarter of 2024. In conjunction with the completion of the agreement, PPL disaggregated the 2024 revenues of the Rhode Island Regulated segment in a manner consistent with that of its other segments. This resulted in certain customer revenues for the Rhode Island Regulated segment, which were previously presented in the "Other" category, being presented in the "Residential", "Commercial" or "Industrial" customer classes beginning on January 1, 2024. Applying the previous methodology to 2025 revenues would result in $534 million of Residential, $409 million of Commercial and $83 million of Industrial for the Rhode Island Regulated segment being presented as "Other" for the year ended December 31, 2025. Applying the previous methodology to 2024 revenues would result in $469 million of Residential, $372 million of Commercial and $88 million of Industrial for the Rhode Island Regulated segment being presented as "Other" for the year ended December 31, 2024.

Credit loss recognized from contract with customer [Table Text Block]

The following table shows the accounts receivable and unbilled revenues balances that were impaired for the year ended December 31:

PPL Electric (a)