Short for Power LED, PLED is a connection on the system panel header labeled PLED, PLED1, or PLED2 that lights the Power LED indicators on your motherboard or case. In the picture, the motherboard LED is labeled as PLED2, which corresponds to its connector.
In the following example of a system panel connector, the PLED is a three pin connector. The top-left corner of the panel connector is positive (+), and the negative (-) wire is at the right.
Computer abbreviations, Hardware terms, LED, System panel header