Talen Energy Corp
For the period ended Mar 31, 2026. Filed May 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 5, 2026
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3. Revenue
- Revenue
The components of operating revenues for the periods were:
| Three Months Ended March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Electricity sales and ancillary services, ISO/RTO | $1,336 | $582 |
| Capacity revenues | 207 | 49 |
| Physical electricity sales, bilateral contracts, other | 25 | 23 |
| Total revenue from contracts with customers | 1,568 | 654 |
| Realized and unrealized gain (loss) on derivative instruments | (439) | (268) |
| Other revenue | — | 4 |
| Operating revenues | $1,129 | $390 |
Accounts Receivable
“Accounts receivable” presented on the Consolidated Balance Sheets were:
| March 31,2026 | December 31,2025 | |
|---|---|---|
| Customer accounts receivable | $109 | $160 |
| Other accounts receivable | 49 | 36 |
| Accounts receivable | $158 | $196 |
During the three months ended March 31, 2026, and 2025, there were no significant changes in accounts receivable other than normal receivable recognition and collection transactions. See Note 2 for additional information on Talen’s credit risk on the carrying value of its receivables.
Future Performance Obligations
Talen’s estimated future fixed fee performance obligations primarily include capacity volumes awarded, net of capacity repurchases by the Company, through PJM BRAs and incremental PJM capacity auctions. See Note 9 for additional information on the PJM BRAs.
As of March 31, 2026, future performance obligations that were unsatisfied or partially unsatisfied were:
| 2026 (a) | 2027 | 2028 (b) | 2029 (b) | 2030 (b) | ||||
| Future performance obligations | $762 | $1,060 | $443 | $— | $— | |||
|---|---|---|---|---|---|---|---|---|
(a)Estimated for the period from April 1 through December 31, 2026.
(b)As PJM BRAs have not yet occurred for periods after the 2027/2028 PJM Capacity Year, there are no future performance obligations after May 31, 2028.
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