Talen Energy Corp
For the period ended Jun 30, 2026. Filed Aug 5, 2026.
View on SEC.govAbout this filing
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.
Jun 30, 2026 · Filed Aug 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
3. Revenue
- Revenue
The components of operating revenues for the periods were:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Electricity sales and ancillary services, ISO/RTO | $626 | $307 | $1,962 | $889 |
| Capacity revenues | 237 | 88 | 444 | 137 |
| Physical electricity sales, bilateral contracts, other | 31 | 14 | 56 | 37 |
| Total revenue from contracts with customers | 894 | 409 | 2,462 | 1,063 |
| Realized and unrealized gain (loss) on derivative instruments | (147) | 218 | (586) | (50) |
| Other revenue | — | 3 | — | 7 |
| Operating revenues | $747 | $630 | $1,876 | $1,020 |
Accounts Receivable
“Accounts receivable” presented on the Consolidated Balance Sheets were:
| June 30,2026 | December 31,2025 | |
|---|---|---|
| Customer accounts receivable | $240 | $160 |
| Other accounts receivable | 54 | 36 |
| Accounts receivable | $294 | $196 |
During the six months ended June 30, 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, and components of capacity contracts with customers for which consideration is fixed and determinable. See Note 9 for additional information on the PJM BRAs.
Future performance obligations that were unsatisfied or partially unsatisfied were:
| 2026 (a) | 2027 | 2028 | 2029 | 2030 | Thereafter (c) | Total | |||||
| Expected capacity revenues as of June 30, 2026 | $639 | $1,273 | $561 | $50 | $56 | $226 | $2,807 | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2028/2029 PJM Capacity Year (b) | — | — | 696 | 491 | — | — | 1,186 | ||||
| Total expected capacity revenues | $639 | $1,273 | $1,257 | $541 | $56 | $226 | $3,993 | ||||
(a)Estimated for the period from July 1, 2026 through December 31, 2026.
(b)PJM capacity revenues are estimated for the period from June 1, 2028 through May 31, 2029 based on the result of the 2028/2029 PJM BRA held in July 2026. Talen cleared 10,180 MWs at a price of $325.00/MWd for the MAAC, PPL, and RTO locational deliverability areas. PJM BRAs have not yet occurred for periods after the 2028/2029 PJM Capacity Year.
(c)Contractual maturities through 2035.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.