4 paragraphs in Risk Factors of the 10-K filed Feb 12, 2026 with nothing like them in the 10-K filed Feb 12, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 30 Utilities companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
they could be subject to remediation costs as well as sanctions, which could include substantial monetary penalties.
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implementation of security guidelines and measures has resulted in and is expected to continue to result in increased costs.
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Energy storage systems provide additional resources for enhancing grid reliability and stability by providing rapid response capabilities, allowing the injection and absorption of power during electric supply and demand imbalances. As forecasted load increases, the lack of sufficient energy storage growth may also lead to greater price volatility and challenges in power services for customers.
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amounts of collateral that could affect its liquidity and could experience higher borrowing costs (All Registrants).
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New in the latest 10-Q
12 paragraphs in the 10-Q filed Oct 30, 2026 with nothing like them in the 10-Q filed Jul 30, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
9.40 %, effective August 10, 2026. Additionally, the order resulted in the write off of $ 180 million of Property, plant and equipment, which was recorded in Operating and maintenance expense.
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In the third quarter of 2026, BGE canceled two capital projects and wrote off $37 million of related costs previously recorded in Property, plant and equipment to Operating and maintenance expense in Exelon's and BGE's Consolidated Statement of Operations and Comprehensive Income.
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The Utility Registrants are party to an agreement with Exelon that provides for the allocation of consolidated tax liabilities and benefits (Tax Sharing Agreement). The Tax Sharing Agreement provides that each party is allocated an amount of tax similar to that which would be owed had the party been separately subject to tax. In addition, any net benefit attributable to Exelon is reallocated to the Utility Registrants. That allocation is treated as a contribution to capital from Exelon to the party receiving the benefit.
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The following table presents the allocation of tax benefits from Exelon under the Tax Sharing Agreement, for the three and nine months ended September 30, 2026, and 2025.
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As of September 30, 2026, the Registrants are in compliance with debt covenants.
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During the third quarter of 2026, ComEd and PECO completed an annual study of their future estimated MGP remediation requirements. The study resulted in increases of $ 12 million and $ 2 million to the environmental liability and related Regulatory asset for ComEd and PECO, respectively. The increases were primarily due to increased costs resulting from inflation, adjustments to unit costs, and changes in remediation plans.
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Exelon, BGE, PHI, Pepco, and DPL plan to work collaboratively with the MDPSC and other key stakeholders to determine the optimal approach to reduce customer bills for the sales tax refund. Exelon, BGE, PHI, Pepco, and DPL plan to begin sharing those tax benefits with customers following the receipt of the refund from the Maryland Comptroller.
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• Higher storm costs at PECO due to the absence of extraordinary February and June storm cost deferrals recognized in 2025 and increased storm costs;
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• Higher storm costs at PECO due to the absence of extraordinary February and June storm cost deferrals recognized in 2025;
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(a) In 2025, primarily represents severance costs related to a cost management program. In 2026, represents third-party consulting and severance costs related to a cost management program.
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(b) Increase primarily due to the absence of $53 million deferral for extraordinary February and June storm costs recognized in the third quarter of 2025.
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(c) On October 15, 2026, ComEd filed an application with the ICC requesting authority to refinance up to $900 million of existing indebtedness. ComEd requested approval of its application by January 22, 2027.
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The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Oct 30, 2026 against Item 1A of the 10-K filed Feb 12, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
Read in the 10-Q ↗
At September 30, 2026, the Registrants' risk factors were consistent with the risk factors described in the Registrants' combined 2025 Form 10-K in ITEM 1A. RISK FACTORS.
1 paragraph in the 10-Q's Item 1A, and none of them adds, rewords or quietly edits a paragraph of the 10-K's.
Work on EXC in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
CSV.
For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/EXC/export.csv") into a cell.