Regulated Utilities

credit / rates affecting interest expense

“Results of Operations 2025 Compared to 2024 Net Income Net income increased $118.0 million primarily due to a $131.8 million ($99.1 million net-of-tax) charge, recorded in first quarter 2024, to reflect the write-off of a previously recorded regulatory asset as a result of an adverse decision in the opportunity sales proceeding in March 2024, higher volume/weather, and higher retail electric price, partially offset by higher depreciation and amortization expenses, higher other operation and maintenance expenses, higher interest expense, an $18.3 million reduction in income tax expense in third quarter 2024 as a result of the resolution of an Arkansas state income tax audit, and higher taxes other than income taxes.”

ETR 10-K

demand / volume affecting expense

“Energy Costs increased $188 million due to Gas costs increased $183 million due primarily to • a net increase of $134 million related to sales under the BGSS contract, of which $80 million was due to higher average cost of gas, and $54 million was due to higher send out volumes, and • a net increase of $48 million related to sales to third parties due primarily to $62 million from higher average cost of gas, partially offset by $14 million due to lower volumes sold.”

PEG 10-Q

capital investment / capacity affecting capex

“The decrease was partially offset by: • an increase of $201.0 million in non-nuclear generation construction expenditures primarily due to higher spending on the Ironwood Power Station (formerly Lake Catherine Unit 5) project and the Jefferson Power Station project; • an increase of $92.0 million in distribution construction expenditures primarily due to higher capital expenditures for storm restoration in 2025; • cash collateral of $37.0 million posted in 2025 to support Entergy Arkansas’s obligations to MISO; and • money pool activity.”

ETR 10-K