FERC Form

THIS FILING IS

Item 1:

☑ An Initial (Original) Submission

OR

☐ Resubmission No.




FERC FINANCIAL REPORT FERC FORM No. 1: Annual Report of Major Electric Utilities, Licensees and Others and Supplemental Form 3-Q: Quarterly Financial Report

These reports are mandatory under the Federal Power Act, Sections 3, 4(a), 304 and 309, and 18 CFR 141.1 and 141.400. Failure to report may result in criminal fines, civil penalties and other sanctions as provided by law. The Federal Energy Regulatory Commission does not consider these reports to be of confidential nature

Exact Legal Name of Respondent (Company)

Duquesne Light Company

Year/Period of Report

End of:

2023

/

Q2

INSTRUCTIONS FOR FILING FERC FORM NOS. 1 and 3-Q

GENERAL INFORMATION

Purpose
FERC Form No. 1 (FERC Form 1) is an annual regulatory requirement for Major electric utilities, licensees and others (18 C.F.R. § 141.1). FERC Form No. 3-Q ( FERC Form 3-Q) is a quarterly regulatory requirement which supplements the annual financial reporting requirement (18 C.F.R. § 141.400). These reports are designed to collect financial and operational information from electric utilities, licensees and others subject to the jurisdiction of the Federal Energy Regulatory Commission. These reports are also considered to be non-confidential public use forms.
Who Must Submit
Each Major electric utility, licensee, or other, as classified in the Commission’s Uniform System of Accounts Prescribed for Public Utilities, Licensees, and Others Subject To the Provisions of The Federal Power Act (18 C.F.R. Part 101), must submit FERC Form 1 (18 C.F.R. § 141.1), and FERC Form 3-Q (18 C.F.R. § 141.400).
Note: Major means having, in each of the three previous calendar years, sales or transmission service that exceeds one of the following:
1. one million megawatt hours of total annual sales,
2. 100 megawatt hours of annual sales for resale,
3. 500 megawatt hours of annual power exchanges delivered, or
4. 500 megawatt hours of annual wheeling for others (deliveries plus losses).

What and Where to Submit

Submit FERC Form Nos. 1 and 3-Q electronically through the eCollection portal at https://eCollection.ferc.gov, and according to the specifications in the Form 1 and 3-Q taxonomies.
The Corporate Officer Certification must be submitted electronically as part of the FERC Forms 1 and 3-Q filings.
Submit immediately upon publication, by either eFiling or mail, two (2) copies to the Secretary of the Commission, the latest Annual Report to Stockholders. Unless eFiling the Annual Report to Stockholders, mail the stockholders report to the Secretary of the Commission at:
Secretary
Federal Energy Regulatory Commission 888 First Street, NE
Washington, DC 20426

For the CPA Certification Statement, submit within 30 days after filing the FERC Form 1, a letter or report (not applicable to filers classified as Class C or Class D prior to January 1, 1984). The CPA Certification Statement can be either eFiled or mailed to the Secretary of the Commission at the address above.

The CPA Certification Statement should:

Attest to the conformity, in all material aspects, of the below listed (schedules and pages) with the Commission's applicable Uniform System of Accounts (including applicable notes relating thereto and the Chief Accountant's published accounting releases), and

Be signed by independent certified public accountants or an independent licensed public accountant certified or licensed by a regulatory authority of a State or other political subdivision of the U. S. (See 18 C.F.R. §§ 41.10-41.12 for specific qualifications.)

Schedules	Pages
Comparative Balance Sheet	110-113
Statement of Income	114-117
Statement of Retained Earnings	118-119
Statement of Cash Flows	120-121
Notes to Financial Statements	122-123

The following format must be used for the CPA Certification Statement unless unusual circumstances or conditions, explained in the letter or report, demand that it be varied. Insert parenthetical phrases only when exceptions are reported.
“In connection with our regular examination of the financial statements of [COMPANY NAME] for the year ended on which we have reported separately under date of [DATE], we have also reviewed schedules [NAME OF SCHEDULES] of FERC Form No. 1 for the year filed with the Federal Energy Regulatory Commission, for conformity in all material respects with the requirements of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts and published accounting releases. Our review for this purpose included such tests of the accounting records and such other auditing procedures as we considered necessary in the circumstances.
Based on our review, in our opinion the accompanying schedules identified in the preceding paragraph (except as noted below) conform in all material respects with the accounting requirements of the Federal Energy Regulatory Commission as set forth in its applicable Uniform System of Accounts and published accounting releases.” The letter or report must state which, if any, of the pages above do not conform to the Commission’s requirements. Describe the discrepancies that exist.
Filers are encouraged to file their Annual Report to Stockholders, and the CPA Certification Statement using eFiling. Further instructions are found on the Commission’s website at https://www.ferc.gov/ferc-online/ferc-online/frequently-asked-questions-faqs-efilingferc-online.
Federal, State, and Local Governments and other authorized users may obtain additional blank copies of FERC Form 1 and 3-Q free of charge from https://www.ferc.gov/general-information-0/electric-industry-forms.

When to Submit
FERC Forms 1 and 3-Q must be filed by the following schedule:
1. FERC Form 1 for each year ending December 31 must be filed by April 18th of the following year (18 CFR § 141.1), and
2. FERC Form 3-Q for each calendar quarter must be filed within 60 days after the reporting quarter (18 C.F.R. § 141.400).
Where to Send Comments on Public Reporting Burden.
The public reporting burden for the FERC Form 1 collection of information is estimated to average 1,168 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data-needed, and completing and reviewing the collection of information. The public reporting burden for the FERC Form 3-Q collection of information is estimated to average 168 hours per response.
Send comments regarding these burden estimates or any aspect of these collections of information, including suggestions for reducing burden, to the Federal Energy Regulatory Commission, 888 First Street NE, Washington, DC 20426 (Attention: Information Clearance Officer); and to the Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, DC 20503 (Attention: Desk Officer for the Federal Energy Regulatory Commission). No person shall be subject to any penalty if any collection of information does not display a valid control number (44 U.S.C. § 3512 (a)).

GENERAL INSTRUCTIONS

Prepare this report in conformity with the Uniform System of Accounts (18 CFR Part 101) (USofA). Interpret all accounting words and phrases in accordance with the USofA.
Enter in whole numbers (dollars or MWH) only, except where otherwise noted. (Enter cents for averages and figures per unit where cents are important. The truncating of cents is allowed except on the four basic financial statements where rounding is required.) The amounts shown on all supporting pages must agree with the amounts entered on the statements that they support. When applying thresholds to determine significance for reporting purposes, use for balance sheet accounts the balances at the end of the current reporting period, and use for statement of income accounts the current year's year to date amounts.
Complete each question fully and accurately, even if it has been answered in a previous report. Enter the word "None" where it truly and completely states the fact.
For any page(s) that is not applicable to the respondent, omit the page(s) and enter "NA," "NONE," or "Not Applicable" in column (d) on the List of Schedules, pages 2 and 3.
Enter the month, day, and year for all dates. Use customary abbreviations. The "Date of Report" included in the header of each page is to be completed only for resubmissions (see VII. below).
Generally, except for certain schedules, all numbers, whether they are expected to be debits or credits, must be reported as positive. Numbers having a sign that is different from the expected sign must be reported by enclosing the numbers in parentheses.
For any resubmissions, please explain the reason for the resubmission in a footnote to the data field.
Do not make references to reports of previous periods/years or to other reports in lieu of required entries, except as specifically authorized.
Wherever (schedule) pages refer to figures from a previous period/year, the figures reported must be based upon those shown by the report of the previous period/year, or an appropriate explanation given as to why the different figures were used.
Schedule specific instructions are found in the applicable taxonomy and on the applicable blank rendered form.

Definitions for statistical classifications used for completing schedules for transmission system reporting are as follows:

FNS - Firm Network Transmission Service for Self. "Firm" means service that can not be interrupted for economic reasons and is intended to remain reliable even under adverse conditions. "Network Service" is Network Transmission Service as described in Order No. 888 and the Open Access Transmission Tariff. "Self" means the respondent.

FNO - Firm Network Service for Others. "Firm" means that service cannot be interrupted for economic reasons and is intended to remain reliable even under adverse conditions. "Network Service" is Network Transmission Service as described in Order No. 888 and the Open Access Transmission Tariff.

LFP - for Long-Term Firm Point-to-Point Transmission Reservations. "Long-Term" means one year or longer and” firm" means that service cannot be interrupted for economic reasons and is intended to remain reliable even under adverse conditions. "Point-to-Point Transmission Reservations" are described in Order No. 888 and the Open Access Transmission Tariff. For all transactions identified as LFP, provide in a footnote the termination date of the contract defined as the earliest date either buyer or seller can unilaterally cancel the contract.

OLF - Other Long-Term Firm Transmission Service. Report service provided under contracts which do not conform to the terms of the Open Access Transmission Tariff. "Long-Term" means one year or longer and “firm” means that service cannot be interrupted for economic reasons and is intended to remain reliable even under adverse conditions. For all transactions identified as OLF, provide in a footnote the termination date of the contract defined as the earliest date either buyer or seller can unilaterally get out of the contract.

SFP - Short-Term Firm Point-to-Point Transmission Reservations. Use this classification for all firm point-to-point transmission reservations, where the duration of each period of reservation is less than one-year.

NF - Non-Firm Transmission Service, where firm means that service cannot be interrupted for economic reasons and is intended to remain reliable even under adverse conditions.

OS - Other Transmission Service. Use this classification only for those services which can not be placed in the above-mentioned classifications, such as all other service regardless of the length of the contract and service FERC Form. Describe the type of service in a footnote for each entry.

AD - Out-of-Period Adjustments. Use this code for any accounting adjustments or "true-ups" for service provided in prior reporting periods. Provide an explanation in a footnote for each adjustment.

DEFINITIONS

Commission Authorization (Comm. Auth.) -- The authorization of the Federal Energy Regulatory Commission, or any other Commission. Name the commission whose authorization was obtained and give date of the authorization.
Respondent -- The person, corporation, licensee, agency, authority, or other Legal entity or instrumentality in whose behalf the report is made.

EXCERPTS FROM THE LAW

Federal Power Act, 16 U.S.C. § 791a-825r

Sec. 3. The words defined in this section shall have the following meanings for purposes of this Act, to with:

’Corporation' means any corporation, joint-stock company, partnership, association, business trust, organized group of persons, whether incorporated or not, or a receiver or receivers, trustee or trustees of any of the foregoing. It shall not include 'municipalities, as hereinafter defined;
'Person' means an individual or a corporation;
'Licensee, means any person, State, or municipality Licensed under the provisions of section 4 of this Act, and any assignee or successor in interest thereof;

'municipality means a city, county, irrigation district, drainage district, or other political subdivision or agency of a State competent under the Laws thereof to carry and the business of developing, transmitting, unitizing, or distributing power; ......

"project' means. a complete unit of improvement or development, consisting of a power house, all water conduits, all dams and appurtenant works and structures (including navigation structures) which are a part of said unit, and all storage, diverting, or fore bay reservoirs directly connected therewith, the primary line or lines transmitting power there from to the point of junction with the distribution system or with the interconnected primary transmission system, all miscellaneous structures used and useful in connection with said unit or any part thereof, and all water rights, rights-of-way, ditches, dams, reservoirs, Lands, or interest in Lands the use and occupancy of which are necessary or appropriate in the maintenance and operation of such unit;

"Sec. 4. The Commission is hereby authorized and empowered

'To make investigations and to collect and record data concerning the utilization of the water 'resources of any region to be developed, the water-power industry and its relation to other industries and to interstate or foreign commerce, and concerning the location, capacity, development costs, and relation to markets of power sites; ... to the extent the Commission may deem necessary or useful for the purposes of this Act."

"Sec. 304.

Every Licensee and every public utility shall file with the Commission such annual and other periodic or special* reports as the Commission may by rules and regulations or other prescribe as necessary or appropriate to assist the Commission in the proper administration of this Act. The Commission may prescribe the manner and FERC Form in which such reports shall be made, and require from such persons specific answers to all questions upon which the Commission may need information. The Commission may require that such reports shall include, among other things, full information as to assets and Liabilities, capitalization, net investment, and reduction thereof, gross receipts, interest due and paid, depreciation, and other reserves, cost of project and other facilities, cost of maintenance and operation of the project and other facilities, cost of renewals and replacement of the project works and other facilities, depreciation, generation, transmission, distribution, delivery, use, and sale of electric energy. The Commission may require any such person to make adequate provision for currently determining such costs and other facts. Such reports shall be made under oath unless the Commission otherwise specifies*.10

"Sec. 309.

The Commission shall have power to perform any and all acts, and to prescribe, issue, make, and rescind such orders, rules and regulations as it may find necessary or appropriate to carry out the provisions of this Act. Among other things, such rules and regulations may define accounting, technical, and trade terms used in this Act; and may prescribe the FERC Form or FERC Forms of all statements, declarations, applications, and reports to be filed with the Commission, the information which they shall contain, and the time within which they shall be field..."

GENERAL PENALTIES

The Commission may assess up to $1 million per day per violation of its rules and regulations. See FPA § 316(a) (2005), 16 U.S.C. § 825o(a).

FERC FORM NO.

1/3-Q

REPORT OF MAJOR ELECTRIC UTILITIES, LICENSEES AND OTHER

Identification

01 Exact Legal Name of Respondent

Duquesne Light Company

02 Year/ Period of Report

End of:

2023

/

Q2

03 Previous Name and Date of Change (If name changed during year)

/

04 Address of Principal Office at End of Period (Street, City, State, Zip Code)

411 Seventh Ave; P.O. Box 1930; Pittsburgh, PA 15219

05 Name of Contact Person

Matthew S. Ankrum

06 Title of Contact Person

VP & CFO

07 Address of Contact Person (Street, City, State, Zip Code)

411 Seventh Ave.; P.O. Box 1930; Pittsburgh, PA 15219

08 Telephone of Contact Person, Including Area Code

(412) 393-6000

09 This Report is An Original / A Resubmission

(1)

☑ An Original

(2)

☐ A Resubmission

10 Date of Report (Mo, Da, Yr)

08/28/2023

Quarterly Corporate Officer Certification

The undersigned officer certifies that:

I have examined this report and to the best of my knowledge, information, and belief all statements of fact contained in this report are correct statements of the business affairs of the respondent and the financial statements, and other financial information contained in this report, conform in all material respects to the Uniform System of Accounts.

01 Name

Matthew S. Ankrum

02 Title

VP & CFO

03 Signature

Matthew S. Ankrum

04 Date Signed (Mo, Da, Yr)

08/28/2023

Title 18, U.S.C. 1001 makes it a crime for any person to knowingly and willingly to make to any Agency or Department of the United States any false, fictitious or fraudulent statements as to any matter within its jurisdiction.

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

List of Schedules
Enter in column (c) the terms "none," "not applicable," or "NA," as appropriate, where no information or amounts have been reported for certain pages. Omit pages where the respondents are "none," "not applicable," or "NA".
Line No.	Title of Schedule (a)	Reference Page No. (b)	Remarks (c)
	ScheduleIdentificationAbstract Identification	1
	ScheduleListOfSchedulesAbstract List of Schedules (Electric Utility)	2
1	ScheduleImportantChangesDuringTheQuarterYearAbstract Important Changes During the Quarter	108
2	ScheduleComparativeBalanceSheetAbstract Comparative Balance Sheet	110
3	ScheduleStatementOfIncomeAbstract Statement of Income for the Quarter	114
4	ScheduleRetainedEarningsAbstract Statement of Retained Earnings for the Quarter	118
5	ScheduleStatementOfCashFlowsAbstract Statement of Cash Flows	120
6	ScheduleNotesToFinancialStatementsAbstract Notes to Financial Statements	122
7	ScheduleStatementOfAccumulatedOtherComprehensiveIncomeAndHedgingActivitiesAbstract Statement of Accum Comp Income, Comp Income, and Hedging Activities	122a
8	ScheduleSummaryOfUtilityPlantAndAccumulatedProvisionsForDepreciationAmortizationAndDepletionAbstract Summary of Utility Plant & Accumulated Provisions for Dep, Amort & Dep	200
9	ScheduleElectricPlantInServiceAndAccumulatedProvisionForDepreciationByFunctionAbstract Electric Plant In Service and Accum Provision For Depr by Function	208
10	ScheduleTransmissionServiceAndGenerationInterconnectionStudyCostsAbstract Transmission Service and Generation Interconnection Study Costs	231
11	ScheduleOtherRegulatoryAssetsAbstract Other Regulatory Assets	232
12	ScheduleOtherRegulatoryLiabilitiesAbstract Other Regulatory Liabilities	278
13	ScheduleElectricOperatingRevenuesAbstract Elec Operating Revenues (Individual Schedule Lines 300-301)	300
14	ScheduleRegionalTransmissionServiceRevenuesAbstract Regional Transmission Service Revenues (Account 457.1)	302	None
15	ScheduleElectricProductionOtherPowerTransmissionRegionalExpensesAbstract Electric Prod, Other Power Supply Exp, Trans and Distrib Exp	324
16	ScheduleElectricCustomerAccountServiceSalesAdministrativeAndGeneralExpensesAbstract Electric Customer Accts, Service, Sales, Admin and General Expenses	325
17	ScheduleTransmissionOfElectricityForOthersAbstract Transmission of Electricity for Others	328
18	ScheduleTransmissionOfElectricityByIsoOrRtoAbstract Transmission of Electricity by ISO/RTOs	331
19	ScheduleTransmissionOfElectricityByOthersAbstract Transmission of Electricity by Others	332	None
20	ScheduleDepreciationDepletionAndAmortizationsAbstract Deprec, Depl and Amort of Elec Plant (403,403.1,404,and 405) (except Amortization of Acquisition Adjustments)	338
21	ScheduleAmountsIncludedInIsoOrRtoSettlementAbstract Amounts Included in ISO/RTO Settlement Statements	397
22	ScheduleMonthlyPeaksAndOutputAbstract Monthly Peak Loads and Energy Output	399
23	ScheduleMonthlyTransmissionSystemPeakLoadAbstract Monthly Transmission System Peak Load	400
24	ScheduleMonthlyIsoOrRtoTransmissionSystemPeakLoadAbstract Monthly ISO/RTO Transmission System Peak Load	400a

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

IMPORTANT CHANGES DURING THE QUARTER/YEAR
Give particulars (details) concerning the matters indicated below. Make the statements explicit and precise, and number them in accordance with the inquiries. Each inquiry should be answered. Enter "none," "not applicable," or "NA" where applicable. If information which answers an inquiry is given elsewhere in the report, make a reference to the schedule in which it appears. Changes in and important additions to franchise rights: Describe the actual consideration given therefore and state from whom the franchise rights were acquired. If acquired without the payment of consideration, state that fact. Acquisition of ownership in other companies by reorganization, merger, or consolidation with other companies: Give names of companies involved, particulars concerning the transactions, name of the Commission authorizing the transaction, and reference to Commission authorization. Purchase or sale of an operating unit or system: Give a brief description of the property, and of the transactions relating thereto, and reference to Commission authorization, if any was required. Give date journal entries called for by the Uniform System of Accounts were submitted to the Commission. Important leaseholds (other than leaseholds for natural gas lands) that have been acquired or given, assigned or surrendered: Give effective dates, lengths of terms, names of parties, rents, and other condition. State name of Commission authorizing lease and give reference to such authorization. Important extension or reduction of transmission or distribution system: State territory added or relinquished and date operations began or ceased and give reference to Commission authorization, if any was required. State also the approximate number of customers added or lost and approximate annual revenues of each class of service. Each natural gas company must also state major new continuing sources of gas made available to it from purchases, development, purchase contract or otherwise, giving location and approximate total gas volumes available, period of contracts, and other parties to any such arrangements, etc. Obligations incurred as a result of issuance of securities or assumption of liabilities or guarantees including issuance of short-term debt and commercial paper having a maturity of one year or less. Give reference to FERC or State Commission authorization, as appropriate, and the amount of obligation or guarantee. Changes in articles of incorporation or amendments to charter: Explain the nature and purpose of such changes or amendments. State the estimated annual effect and nature of any important wage scale changes during the year. State briefly the status of any materially important legal proceedings pending at the end of the year, and the results of any such proceedings culminated during the year. Describe briefly any materially important transactions of the respondent not disclosed elsewhere in this report in which an officer, director, security holder reported on Pages 104 or 105 of the Annual Report Form No. 1, voting trustee, associated company or known associate of any of these persons was a party or in which any such person had a material interest. (Reserved.) If the important changes during the year relating to the respondent company appearing in the annual report to stockholders are applicable in every respect and furnish the data required by Instructions 1 to 11 above, such notes may be included on this page. Describe fully any changes in officers, directors, major security holders and voting powers of the respondent that may have occurred during the reporting period. In the event that the respondent participates in a cash management program(s) and its proprietary capital ratio is less than 30 percent please describe the significant events or transactions causing the proprietary capital ratio to be less than 30 percent, and the extent to which the respondent has amounts loaned or money advanced to its parent, subsidiary, or affiliated companies through a cash management program(s). Additionally, please describe plans, if any to regain at least a 30 percent proprietary ratio.

Item 1: Not Applicable
Item 2: None
Item 3: None
Item 4: None
Item 5: None
Item 6: The Company maintains a credit agreement which allows for a revolving credit facility borrowing capacity of $250.0 million, with a maturity date of October 31, 2025. In February 2023, the Company closed on an amendment to their credit agreement. The revision to the credit agreement included replacing LIBOR as the benchmark interest rate with the Secured Overnight Financing Rate (SOFR). All other aspects of the agreement were not materially amended. As of June 30, 2023 and December 31, 2022, the Company had $120.0 million and zero borrowings under the revolving credit facility. An existing PUC approved affiliated interest agreement is maintained between Duquesne Light and Holdings, which authorizes short-term borrowings at market rates from Holdings with a maximum borrowing capacity of $300.0 million. In May 2023, the PUC approved the Company’s request to amend to this agreement, changing the benchmark interest rate from LIBOR to SOFR. No other aspects of the agreement were amended. As of June 30, 2023, $125.0 million in borrowings were outstanding under this agreement. In September 2022, the FERC approved Duquesne Light’s application for a securities certificate requesting approval to issue short-term securities in an amount not to exceed $600.0 million. As of June 30, 2023, Duquesne Light had $245.0 million of borrowings outstanding under this order. This amount is the sum of $125.0 million of short-term intercompany borrowings between Duquesne Light and Holdings and Duquesne Light’s $120.0 million in borrowings under the revolving credit facility. A PUC securities certificate exists allowing Duquesne Light to issue up to $400.0 million of long-term debt in the form of first mortgage bonds, unsecured notes, bank borrowings or similar borrowings through December 31, 2023. Considering the $130.0 million Duquesne Light first mortgage bond issuance, discussed above, the total available amount under this securities certificate as of June 30, 2023 was $270.0 million. In July 2023, the Company filed an application with the PUC requesting a new certificate issued with an authorization of $400.0 million of new debt. The Company cannot predict the outcome of this request.
Item 7: None
Item 8: Market Adjustments and merit increases were granted to management employees effective March 1, 2023, resulting in an incremental annual increase to the payroll of $3,725,095 (763 employees affected).
Item 9: See Commitments and Contingencies Notes to Financial Statements beginning on Page 123.1
Item 10: None
Item 12: None
During the six-months ended June 30, 2023, the Company experienced the following officer changes: Lisa Davidson was appointed on 1/16/23 as Vice President and Chief Human Resources Officer and Kristy Stone appointed 1/3/23 as Vice President and Chief Customer Office. Mark Miko departed the Company on 2/16/23 and Jeremy Gill has assumed the Interim Vice President & Chief Information Officer. During the six-months ended June 30, 2023, the Company experienced the following director changes: Anita Sharma was appointed to the Board effective March 1, 2023 replacing Sjoerd van Krimpen.
Item 14: Not Applicable

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

COMPARATIVE BALANCE SHEET (ASSETS AND OTHER DEBITS)
Line No.	Title of Account (a)	Ref. Page No. (b)	Current Year End of Quarter/Year Balance (c)	Prior Year End Balance 12/31 (d)
1	UtilityPlantAbstract UTILITY PLANT
2	UtilityPlant Utility Plant (101-106, 114)	200	5,494,016,059	5,342,967,689
3	ConstructionWorkInProgress Construction Work in Progress (107)	200	375,432,834	324,236,450
4	UtilityPlantAndConstructionWorkInProgress TOTAL Utility Plant (Enter Total of lines 2 and 3)		5,869,448,893	5,667,204,139
5	AccumulatedProvisionForDepreciationAmortizationAndDepletionOfPlantUtility (Less) Accum. Prov. for Depr. Amort. Depl. (108, 110, 111, 115)	200	1,860,100,400	1,779,890,489
6	UtilityPlantNet Net Utility Plant (Enter Total of line 4 less 5)		4,009,348,493	3,887,313,650
7	NuclearFuelInProcessOfRefinementConversionEnrichmentAndFabrication Nuclear Fuel in Process of Ref., Conv., Enrich., and Fab. (120.1)	202
8	NuclearFuelMaterialsAndAssembliesStockAccountMajorOnly Nuclear Fuel Materials and Assemblies-Stock Account (120.2)
9	NuclearFuelAssembliesInReactorMajorOnly Nuclear Fuel Assemblies in Reactor (120.3)
10	SpentNuclearFuelMajorOnly Spent Nuclear Fuel (120.4)
11	NuclearFuelUnderCapitalLeases Nuclear Fuel Under Capital Leases (120.6)
12	AccumulatedProvisionForAmortizationOfNuclearFuelAssemblies (Less) Accum. Prov. for Amort. of Nucl. Fuel Assemblies (120.5)	202
13	NuclearFuelNet Net Nuclear Fuel (Enter Total of lines 7-11 less 12)
14	UtilityPlantAndNuclearFuelNet Net Utility Plant (Enter Total of lines 6 and 13)		4,009,348,493	3,887,313,650
15	OtherElectricPlantAdjustments Utility Plant Adjustments (116)
16	GasStoredUndergroundNoncurrent Gas Stored Underground - Noncurrent (117)
17	OtherPropertyAndInvestmentsAbstract OTHER PROPERTY AND INVESTMENTS
18	NonutilityProperty Nonutility Property (121)		14,139,121	13,345,704
19	AccumulatedProvisionForDepreciationAndAmortizationOfNonutilityProperty (Less) Accum. Prov. for Depr. and Amort. (122)		3,340,997	3,040,997
20	InvestmentInAssociatedCompanies Investments in Associated Companies (123)
21	InvestmentInSubsidiaryCompanies Investment in Subsidiary Companies (123.1)	224
23	NoncurrentPortionOfAllowances Noncurrent Portion of Allowances	228
24	OtherInvestments Other Investments (124)		239,718	243,530
25	SinkingFunds Sinking Funds (125)
26	DepreciationFund Depreciation Fund (126)
27	AmortizationFundFederal Amortization Fund - Federal (127)
28	OtherSpecialFunds Other Special Funds (128)
29	SpecialFunds Special Funds (Non Major Only) (129)
30	DerivativeInstrumentAssetsLongTerm Long-Term Portion of Derivative Assets (175)
31	DerivativeInstrumentAssetsHedgesLongTerm Long-Term Portion of Derivative Assets - Hedges (176)
32	OtherPropertyAndInvestments TOTAL Other Property and Investments (Lines 18-21 and 23-31)		11,037,842	10,548,237
33	CurrentAndAccruedAssetsAbstract CURRENT AND ACCRUED ASSETS
34	CashAndWorkingFunds Cash and Working Funds (Non-major Only) (130)
35	Cash Cash (131)		8,669,136	4,896,200
36	SpecialDeposits Special Deposits (132-134)
37	WorkingFunds Working Fund (135)		10,000	10,000
38	TemporaryCashInvestments Temporary Cash Investments (136)		6,000,000	12,000,000
39	NotesReceivable Notes Receivable (141)
40	CustomerAccountsReceivable Customer Accounts Receivable (142)		163,896,976	177,614,278
41	OtherAccountsReceivable Other Accounts Receivable (143)		14,907,068	13,970,500
42	AccumulatedProvisionForUncollectibleAccountsCredit (Less) Accum. Prov. for Uncollectible Acct.-Credit (144)		11,217,653	12,532,557
43	NotesReceivableFromAssociatedCompanies Notes Receivable from Associated Companies (145)
44	AccountsReceivableFromAssociatedCompanies Accounts Receivable from Assoc. Companies (146)		958,890	367,666
45	FuelStock Fuel Stock (151)	227
46	FuelStockExpensesUndistributed Fuel Stock Expenses Undistributed (152)	227
47	Residuals Residuals (Elec) and Extracted Products (153)	227
48	PlantMaterialsAndOperatingSupplies Plant Materials and Operating Supplies (154)	227	30,222,065	28,922,210
49	Merchandise Merchandise (155)	227
50	OtherMaterialsAndSupplies Other Materials and Supplies (156)	227
51	NuclearMaterialsHeldForSale Nuclear Materials Held for Sale (157)	202/227
52	AllowanceInventoryAndWithheld Allowances (158.1 and 158.2)	228
53	NoncurrentPortionOfAllowances (Less) Noncurrent Portion of Allowances	228
54	StoresExpenseUndistributed Stores Expense Undistributed (163)	227
55	GasStoredCurrent Gas Stored Underground - Current (164.1)
56	LiquefiedNaturalGasStoredAndHeldForProcessing Liquefied Natural Gas Stored and Held for Processing (164.2-164.3)
57	Prepayments Prepayments (165)		(a) 44,271,277	32,273,396
58	AdvancesForGas Advances for Gas (166-167)
59	InterestAndDividendsReceivable Interest and Dividends Receivable (171)		56,726	179,113
60	RentsReceivable Rents Receivable (172)
61	AccruedUtilityRevenues Accrued Utility Revenues (173)
62	MiscellaneousCurrentAndAccruedAssets Miscellaneous Current and Accrued Assets (174)
63	DerivativeInstrumentAssets Derivative Instrument Assets (175)
64	DerivativeInstrumentAssetsLongTerm (Less) Long-Term Portion of Derivative Instrument Assets (175)
65	DerivativeInstrumentAssetsHedges Derivative Instrument Assets - Hedges (176)
66	DerivativeInstrumentAssetsHedgesLongTerm (Less) Long-Term Portion of Derivative Instrument Assets - Hedges (176)
67	CurrentAndAccruedAssets Total Current and Accrued Assets (Lines 34 through 66)		257,774,485	257,700,806
68	DeferredDebitsAbstract DEFERRED DEBITS
69	UnamortizedDebtExpense Unamortized Debt Expenses (181)		7,554,826	7,755,015
70	ExtraordinaryPropertyLosses Extraordinary Property Losses (182.1)	230a
71	UnrecoveredPlantAndRegulatoryStudyCosts Unrecovered Plant and Regulatory Study Costs (182.2)	230b	6,813,423	7,595,762
72	OtherRegulatoryAssets Other Regulatory Assets (182.3)	232	156,363,652	158,616,665
73	PreliminarySurveyAndInvestigationCharges Prelim. Survey and Investigation Charges (Electric) (183)
74	PreliminaryNaturalGasSurveyAndInvestigationChargesAndOtherPreliminarySurveyAndInvestigationCharges Preliminary Natural Gas Survey and Investigation Charges 183.1)
75	OtherPreliminarySurveyAndInvestigationCharges Other Preliminary Survey and Investigation Charges (183.2)
76	ClearingAccounts Clearing Accounts (184)
77	TemporaryFacilities Temporary Facilities (185)
78	MiscellaneousDeferredDebits Miscellaneous Deferred Debits (186)	233	4,601,004	590,796
79	DeferredLossesFromDispositionOfUtilityPlant Def. Losses from Disposition of Utility Plt. (187)
80	ResearchDevelopmentAndDemonstrationExpenditures Research, Devel. and Demonstration Expend. (188)	352
81	UnamortizedLossOnReacquiredDebt Unamortized Loss on Reaquired Debt (189)		12,323,339	13,186,750
82	AccumulatedDeferredIncomeTaxes Accumulated Deferred Income Taxes (190)	234	171,540,582	177,762,715
83	UnrecoveredPurchasedGasCosts Unrecovered Purchased Gas Costs (191)
84	DeferredDebits Total Deferred Debits (lines 69 through 83)		359,196,826	365,507,703
85	AssetsAndOtherDebits TOTAL ASSETS (lines 14-16, 32, 67, and 84)		4,637,357,646	4,521,070,396

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

FOOTNOTE DATA

(a) Concept: Prepayments


	Column: c	Column: d
Prepaid Gross Receipts Tax	$22,337,968	$—
Prepaid Information Technology Hardware/Software Maint	16,544,387	20,674,532
Prepaid Pennsylvania PUC and FERC Assessments	—	1,512,114
Miscellaneous Prepaid Expenses	2,111,799	5,572,356
Prepaid Property Risk Insurance	3,277,123	4,514,394
Total Prepaid Expenses	$44,271,277	$32,273,396

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

COMPARATIVE BALANCE SHEET (LIABILITIES AND OTHER CREDITS)
Line No.	Title of Account (a)	Ref. Page No. (b)	Current Year End of Quarter/Year Balance (c)	Prior Year End Balance 12/31 (d)
1	ProprietaryCapitalAbstract PROPRIETARY CAPITAL
2	CommonStockIssued Common Stock Issued (201)	250
3	PreferredStockIssued Preferred Stock Issued (204)	250
4	CapitalStockSubscribed Capital Stock Subscribed (202, 205)
5	StockLiabilityForConversion Stock Liability for Conversion (203, 206)
6	PremiumOnCapitalStock Premium on Capital Stock (207)
7	OtherPaidInCapital Other Paid-In Capital (208-211)	253	985,347,596	985,347,596
8	InstallmentsReceivedOnCapitalStock Installments Received on Capital Stock (212)	252
9	DiscountOnCapitalStock (Less) Discount on Capital Stock (213)	254
10	CapitalStockExpense (Less) Capital Stock Expense (214)	254b
11	RetainedEarnings Retained Earnings (215, 215.1, 216)	118	729,882,351	724,920,439
12	UnappropriatedUndistributedSubsidiaryEarnings Unappropriated Undistributed Subsidiary Earnings (216.1)	118
13	ReacquiredCapitalStock (Less) Reacquired Capital Stock (217)	250
14	NoncorporateProprietorship Noncorporate Proprietorship (Non-major only) (218)
15	AccumulatedOtherComprehensiveIncome Accumulated Other Comprehensive Income (219)	122(a)(b)	1,423,880	1,482,317
16	ProprietaryCapital Total Proprietary Capital (lines 2 through 15)		1,716,653,827	1,711,750,352
17	LongTermDebtAbstract LONG-TERM DEBT
18	Bonds Bonds (221)	256	1,525,000,000	1,525,000,000
19	ReacquiredBonds (Less) Reacquired Bonds (222)	256
20	AdvancesFromAssociatedCompanies Advances from Associated Companies (223)	256
21	OtherLongTermDebt Other Long-Term Debt (224)	256
22	UnamortizedPremiumOnLongTermDebt Unamortized Premium on Long-Term Debt (225)
23	UnamortizedDiscountOnLongTermDebtDebit (Less) Unamortized Discount on Long-Term Debt-Debit (226)
24	LongTermDebt Total Long-Term Debt (lines 18 through 23)		1,525,000,000	1,525,000,000
25	OtherNoncurrentLiabilitiesAbstract OTHER NONCURRENT LIABILITIES
26	ObligationsUnderCapitalLeaseNoncurrent Obligations Under Capital Leases - Noncurrent (227)
27	AccumulatedProvisionForPropertyInsurance Accumulated Provision for Property Insurance (228.1)
28	AccumulatedProvisionForInjuriesAndDamages Accumulated Provision for Injuries and Damages (228.2)		3,195,540	3,195,540
29	AccumulatedProvisionForPensionsAndBenefits Accumulated Provision for Pensions and Benefits (228.3)		17,743,726	18,702,738
30	AccumulatedMiscellaneousOperatingProvisions Accumulated Miscellaneous Operating Provisions (228.4)		2,400,000	2,400,000
31	AccumulatedProvisionForRateRefunds Accumulated Provision for Rate Refunds (229)
32	LongTermPortionOfDerivativeInstrumentLiabilities Long-Term Portion of Derivative Instrument Liabilities
33	LongTermPortionOfDerivativeInstrumentLiabilitiesHedges Long-Term Portion of Derivative Instrument Liabilities - Hedges
34	AssetRetirementObligations Asset Retirement Obligations (230)		2,277,231	2,259,255
35	OtherNoncurrentLiabilities Total Other Noncurrent Liabilities (lines 26 through 34)		25,616,497	26,557,533
36	CurrentAndAccruedLiabilitiesAbstract CURRENT AND ACCRUED LIABILITIES
37	NotesPayable Notes Payable (231)		120,000,000
38	AccountsPayable Accounts Payable (232)		143,851,303	206,647,894
39	NotesPayableToAssociatedCompanies Notes Payable to Associated Companies (233)		125,000,000	40,000,000
40	AccountsPayableToAssociatedCompanies Accounts Payable to Associated Companies (234)			224
41	CustomerDeposits Customer Deposits (235)		9,177,830	9,054,272
42	TaxesAccrued Taxes Accrued (236)	262	5,801,252	17,760,267
43	InterestAccrued Interest Accrued (237)		22,909,905	20,928,276
44	DividendsDeclared Dividends Declared (238)
45	MaturedLongTermDebt Matured Long-Term Debt (239)
46	MaturedInterest Matured Interest (240)
47	TaxCollectionsPayable Tax Collections Payable (241)		4,467,488	956,827
48	MiscellaneousCurrentAndAccruedLiabilities Miscellaneous Current and Accrued Liabilities (242)		(a) 26,007,085	47,841,484
49	ObligationsUnderCapitalLeasesCurrent Obligations Under Capital Leases-Current (243)
50	DerivativesInstrumentLiabilities Derivative Instrument Liabilities (244)
51	LongTermPortionOfDerivativeInstrumentLiabilities (Less) Long-Term Portion of Derivative Instrument Liabilities
52	DerivativeInstrumentLiabilitiesHedges Derivative Instrument Liabilities - Hedges (245)
53	LongTermPortionOfDerivativeInstrumentLiabilitiesHedges (Less) Long-Term Portion of Derivative Instrument Liabilities-Hedges
54	CurrentAndAccruedLiabilities Total Current and Accrued Liabilities (lines 37 through 53)		457,214,863	343,189,244
55	DeferredCreditsAbstract DEFERRED CREDITS
56	CustomerAdvancesForConstruction Customer Advances for Construction (252)
57	AccumulatedDeferredInvestmentTaxCredits Accumulated Deferred Investment Tax Credits (255)	266
58	DeferredGainsFromDispositionOfUtilityPlant Deferred Gains from Disposition of Utility Plant (256)
59	OtherDeferredCredits Other Deferred Credits (253)	269	15,707,204	15,043,729
60	OtherRegulatoryLiabilities Other Regulatory Liabilities (254)	278	136,526,162	139,752,673
61	UnamortizedGainOnReacquiredDebt Unamortized Gain on Reacquired Debt (257)
62	AccumulatedDeferredIncomeTaxesAcceleratedAmortizationProperty Accum. Deferred Income Taxes-Accel. Amort.(281)	272
63	AccumulatedDeferredIncomeTaxesOtherProperty Accum. Deferred Income Taxes-Other Property (282)		695,369,713	692,466,845
64	AccumulatedDeferredIncomeTaxesOther Accum. Deferred Income Taxes-Other (283)		65,269,380	67,310,020
65	DeferredCredits Total Deferred Credits (lines 56 through 64)		912,872,459	914,573,267
66	LiabilitiesAndOtherCredits TOTAL LIABILITIES AND STOCKHOLDER EQUITY (lines 16, 24, 35, 54 and 65)		4,637,357,646	4,521,070,396

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

FOOTNOTE DATA

(a) Concept: MiscellaneousCurrentAndAccruedLiabilities


	Column: c	Column: d
Employee Benefits	$8,388,201	$	14,638,217
Compensated Absences	8,768,974	8,768,974
Counterparty Collateral	4,638,838	20,056,918
Accrued Payroll	870,550	2,427,161
Legal Reserve	840,000	875,000
Workmen's Comp	1,940,522	545,214
Other	560,000	530,000
Total Misc Current and Accrued Liabilities	$26,007,085	$47,841,484

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

STATEMENT OF INCOME
Quarterly Report in column (c) the current year to date balance. Column (c) equals the total of adding the data in column (g) plus the data in column (i) plus the data in column (k). Report in column (d) similar data for the previous year. This information is reported in the annual filing only. Enter in column (e) the balance for the reporting quarter and in column (f) the balance for the same three month period for the prior year. Report in column (g) the quarter to date amounts for electric utility function; in column (i) the quarter to date amounts for gas utility, and in column (k) the quarter to date amounts for other utility function for the current year quarter. Report in column (h) the quarter to date amounts for electric utility function; in column (j) the quarter to date amounts for gas utility, and in column (l) the quarter to date amounts for other utility function for the prior year quarter. If additional columns are needed, place them in a footnote. Annual or Quarterly if applicable Do not report fourth quarter data in columns (e) and (f) Report amounts for accounts 412 and 413, Revenues and Expenses from Utility Plant Leased to Others, in another utility column in a similar manner to a utility department. Spread the amount(s) over Lines 2 thru 26 as appropriate. Include these amounts in columns (c) and (d) totals. Report amounts in account 414, Other Utility Operating Income, in the same manner as accounts 412 and 413 above. Use page 122 for important notes regarding the statement of income for any account thereof. Give concise explanations concerning unsettled rate proceedings where a contingency exists such that refunds of a material amount may need to be made to the utility's customers or which may result in material refund to the utility with respect to power or gas purchases. State for each year effected the gross revenues or costs to which the contingency relates and the tax effects together with an explanation of the major factors which affect the rights of the utility to retain such revenues or recover amounts paid with respect to power or gas purchases. Give concise explanations concerning significant amounts of any refunds made or received during the year resulting from settlement of any rate proceeding affecting revenues received or costs incurred for power or gas purchases, and a summary of the adjustments made to balance sheet, income, and expense accounts. If any notes appearing in the report to stockholders are applicable to the Statement of Income, such notes may be included at page 122. Enter on page 122 a concise explanation of only those changes in accounting methods made during the year which had an effect on net income, including the basis of allocations and apportionments from those used in the preceding year. Also, give the appropriate dollar effect of such changes. Explain in a footnote if the previous year's/quarter's figures are different from that reported in prior reports. If the columns are insufficient for reporting additional utility departments, supply the appropriate account titles report the information in a footnote to this schedule.
Line No.	Title of Account (a)	(Ref.) Page No. (b)	Total Current Year to Date Balance for Quarter/Year (c)	Total Prior Year to Date Balance for Quarter/Year (d)	Current 3 Months Ended - Quarterly Only - No 4th Quarter (e)	Prior 3 Months Ended - Quarterly Only - No 4th Quarter (f)	Electric Utility Current Year to Date (in dollars) (g)	Electric Utility Previous Year to Date (in dollars) (h)	Gas Utiity Current Year to Date (in dollars) (i)	Gas Utility Previous Year to Date (in dollars) (j)	Other Utility Current Year to Date (in dollars) (k)	Other Utility Previous Year to Date (in dollars) (l)
1	UtilityOperatingIncomeAbstract UTILITY OPERATING INCOME
2	OperatingRevenues Operating Revenues (400)	300	572,187,540	541,308,884	279,378,556	270,049,150	572,187,540	541,308,884
3	OperatingExpensesAbstract Operating Expenses
4	OperationExpense Operation Expenses (401)	320	279,861,219	230,256,698	131,347,758	114,098,469	279,861,219	230,256,698
5	MaintenanceExpense Maintenance Expenses (402)	320	19,104,270	23,624,128	9,199,338	11,895,541	19,104,270	23,624,128
6	DepreciationExpense Depreciation Expense (403)	336	76,370,778	72,450,811	38,423,646	36,417,074	76,370,778	72,450,811
7	DepreciationExpenseForAssetRetirementCosts Depreciation Expense for Asset Retirement Costs (403.1)	336
8	AmortizationAndDepletionOfUtilityPlant Amort. & Depl. of Utility Plant (404-405)	336	28,893,467	30,017,548	14,332,725	14,961,094	28,893,467	30,017,548
9	AmortizationOfElectricPlantAcquisitionAdjustments Amort. of Utility Plant Acq. Adj. (406)	336
10	AmortizationOfPropertyLossesUnrecoveredPlantAndRegulatoryStudyCosts Amort. Property Losses, Unrecov Plant and Regulatory Study Costs (407)		619,402		619,402		619,402
11	AmortizationOfConversionExpenses Amort. of Conversion Expenses (407.2)
12	RegulatoryDebits Regulatory Debits (407.3)
13	RegulatoryCredits (Less) Regulatory Credits (407.4)
14	TaxesOtherThanIncomeTaxesUtilityOperatingIncome Taxes Other Than Income Taxes (408.1)	262	34,901,116	33,195,258	17,424,208	16,413,683	34,901,116	33,195,258
15	IncomeTaxesOperatingIncome Income Taxes - Federal (409.1)	262	12,791,651	14,704,065	7,371,392	8,490,341	12,791,651	14,704,065
16	IncomeTaxesUtilityOperatingIncomeOther Income Taxes - Other (409.1)	262	4,645,747	5,719,458	2,715,442	3,256,566	4,645,747	5,719,458
17	ProvisionsForDeferredIncomeTaxesUtilityOperatingIncome Provision for Deferred Income Taxes (410.1)	234, 272	46,071,713	23,361,236	6,993,662	8,885,461	46,071,713	23,361,236
18	ProvisionForDeferredIncomeTaxesCreditOperatingIncome (Less) Provision for Deferred Income Taxes-Cr. (411.1)	234, 272	42,953,426	15,461,063	6,396,203	6,617,833	42,953,426	15,461,063
19	InvestmentTaxCreditAdjustments Investment Tax Credit Adj. - Net (411.4)	266
20	GainsFromDispositionOfPlant (Less) Gains from Disp. of Utility Plant (411.6)
21	LossesFromDispositionOfServiceCompanyPlant Losses from Disp. of Utility Plant (411.7)
22	GainsFromDispositionOfAllowances (Less) Gains from Disposition of Allowances (411.8)
23	LossesFromDispositionOfAllowances Losses from Disposition of Allowances (411.9)
24	AccretionExpense Accretion Expense (411.10)
25	UtilityOperatingExpenses TOTAL Utility Operating Expenses (Enter Total of lines 4 thru 24)		460,305,937	417,868,139	222,031,370	207,800,396	460,305,937	417,868,139
27	NetUtilityOperatingIncome Net Util Oper Inc (Enter Tot line 2 less 25)		111,881,603	123,440,745	57,347,186	62,248,754	111,881,603	123,440,745
28	OtherIncomeAndDeductionsAbstract Other Income and Deductions
29	OtherIncomeAbstract Other Income
30	NonutilityOperatingIncomeAbstract Nonutilty Operating Income
31	RevenuesFromMerchandisingJobbingAndContractWork Revenues From Merchandising, Jobbing and Contract Work (415)		66	3	34	3
32	CostsAndExpensesOfMerchandisingJobbingAndContractWork (Less) Costs and Exp. of Merchandising, Job. & Contract Work (416)
33	RevenuesFromNonutilityOperations Revenues From Nonutility Operations (417)		340,265	660,309	115,068	375,578
34	ExpensesOfNonutilityOperations (Less) Expenses of Nonutility Operations (417.1)
35	NonoperatingRentalIncome Nonoperating Rental Income (418)
36	EquityInEarningsOfSubsidiaryCompanies Equity in Earnings of Subsidiary Companies (418.1)	119
37	InterestAndDividendIncome Interest and Dividend Income (419)		369,855	75,444	117,950	71,659
38	AllowanceForOtherFundsUsedDuringConstruction Allowance for Other Funds Used During Construction (419.1)		6,501,015	3,060,949	3,435,178	1,672,618
39	MiscellaneousNonoperatingIncome Miscellaneous Nonoperating Income (421)		19,608	445,810	1,531	254,443
40	GainOnDispositionOfProperty Gain on Disposition of Property (421.1)		101,100		101,100
41	OtherIncome TOTAL Other Income (Enter Total of lines 31 thru 40)		7,331,909	4,242,515	3,767,799	2,374,301
42	OtherIncomeDeductionsAbstract Other Income Deductions
43	LossOnDispositionOfProperty Loss on Disposition of Property (421.2)
44	MiscellaneousAmortization Miscellaneous Amortization (425)
45	Donations Donations (426.1)		1,074,943	1,753,355	847,456	370,281
46	LifeInsurance Life Insurance (426.2)
47	Penalties Penalties (426.3)		47,525	1,375	44,000	1,375
48	ExpendituresForCertainCivicPoliticalAndRelatedActivities Exp. for Certain Civic, Political & Related Activities (426.4)		172,308	185,258	83,903	73,740
49	OtherDeductions Other Deductions (426.5)		1,388,843	792,601	1,022,044	451,392
50	OtherIncomeDeductions TOTAL Other Income Deductions (Total of lines 43 thru 49)		2,683,619	2,732,589	1,997,403	896,788
51	TaxesApplicableToOtherIncomeAndDeductionsAbstract Taxes Applic. to Other Income and Deductions
52	TaxesOtherThanIncomeTaxesOtherIncomeAndDeductions Taxes Other Than Income Taxes (408.2)	262
53	IncomeTaxesFederal Income Taxes-Federal (409.2)	262	840,661	297,915	283,577	277,535
54	IncomeTaxesOther Income Taxes-Other (409.2)	262	406,174	170,480	139,228	159,709
55	ProvisionForDeferredIncomeTaxesOtherIncomeAndDeductions Provision for Deferred Inc. Taxes (410.2)	234, 272	632,339	191,025	130,779	189,328
56	ProvisionForDeferredIncomeTaxesCreditOtherIncomeAndDeductions (Less) Provision for Deferred Income Taxes-Cr. (411.2)	234, 272	512,748	167,172	17,194	167,057
57	InvestmentTaxCreditAdjustmentsNonutilityOperations Investment Tax Credit Adj.-Net (411.5)
58	InvestmentTaxCredits (Less) Investment Tax Credits (420)
59	TaxesOnOtherIncomeAndDeductions TOTAL Taxes on Other Income and Deductions (Total of lines 52-58)		1,366,426	492,248	536,390	459,515
60	NetOtherIncomeAndDeductions Net Other Income and Deductions (Total of lines 41, 50, 59)		3,281,864	1,017,678	1,234,006	1,017,998
61	InterestChargesAbstract Interest Charges
62	InterestOnLongTermDebt Interest on Long-Term Debt (427)		31,971,556	28,953,500	16,003,056	14,476,750
63	AmortizationOfDebtDiscountAndExpense Amort. of Debt Disc. and Expense (428)		258,771	237,094	131,592	113,200
64	AmortizationOfLossOnReacquiredDebt Amortization of Loss on Reaquired Debt (428.1)		863,412	1,013,807	400,899	506,903
65	AmortizationOfPremiumOnDebtCredit (Less) Amort. of Premium on Debt-Credit (429)
66	AmortizationOfGainOnReacquiredDebtCredit (Less) Amortization of Gain on Reaquired Debt-Credit (429.1)
67	InterestOnDebtToAssociatedCompanies Interest on Debt to Assoc. Companies (430)		2,661,289	756,193	1,880,971	541,232
68	OtherInterestExpense Other Interest Expense (431)		1,542,444	328,313	1,400,274	362,786
69	AllowanceForBorrowedFundsUsedDuringConstructionCredit (Less) Allowance for Borrowed Funds Used During Construction-Cr. (432)		4,095,917	1,398,382	2,512,467	771,968
70	NetInterestCharges Net Interest Charges (Total of lines 62 thru 69)		33,201,555	29,890,525	17,304,325	15,228,903
71	IncomeBeforeExtraordinaryItems Income Before Extraordinary Items (Total of lines 27, 60 and 70)		81,961,912	94,567,898	41,276,867	48,037,849
72	ExtraordinaryItemsAbstract Extraordinary Items
73	ExtraordinaryIncome Extraordinary Income (434)
74	ExtraordinaryDeductions (Less) Extraordinary Deductions (435)
75	NetExtraordinaryItems Net Extraordinary Items (Total of line 73 less line 74)
76	IncomeTaxesExtraordinaryItems Income Taxes-Federal and Other (409.3)	262
77	ExtraordinaryItemsAfterTaxes Extraordinary Items After Taxes (line 75 less line 76)
78	NetIncomeLoss Net Income (Total of line 71 and 77)		81,961,912	94,567,898	41,276,867	48,037,849

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

STATEMENT OF RETAINED EARNINGS
Do not report Lines 49-53 on the quarterly report. Report all changes in appropriated retained earnings, unappropriated retained earnings, and unappropriated undistributed subsidiary earnings for the year. Each credit and debit during the year should be identified as to the retained earnings account in which recorded (Accounts 433, 436-439 inclusive). Show the contra primary account affected in column (b). State the purpose and amount for each reservation or appropriation of retained earnings. List first Account 439, Adjustments to Retained Earnings, reflecting adjustments to the opening balance of retained earnings. Follow by credit, then debit items, in that order. Show dividends for each class and series of capital stock. Show separately the State and Federal income tax effect of items shown for Account 439, Adjustments to Retained Earnings. Explain in a footnote the basis for determining the amount reserved or appropriated. If such reservation or appropriation is to be recurrent, state the number and annual amounts to be reserved or appropriated as well as the totals eventually to be accumulated. If any notes appearing in the report to stockholders are applicable to this statement, attach them at page 122.
Line No.	Item (a)	Contra Primary Account Affected (b)	Current Quarter/Year Year to Date Balance (c)	Previous Quarter/Year Year to Date Balance (d)
	UnappropriatedRetainedEarningsAbstract UNAPPROPRIATED RETAINED EARNINGS (Account 216)
1	UnappropriatedRetainedEarnings Balance-Beginning of Period		724,920,439	631,951,311
2	ChangesAbstract Changes
3	AdjustmentsToRetainedEarningsAbstract Adjustments to Retained Earnings (Account 439)
4	AdjustmentsToRetainedEarningsCreditAbstract Adjustments to Retained Earnings Credit
9	AdjustmentsToRetainedEarningsCredit TOTAL Credits to Retained Earnings (Acct. 439)
10	AdjustmentsToRetainedEarningsDebitAbstract Adjustments to Retained Earnings Debit
15	AdjustmentsToRetainedEarningsDebit TOTAL Debits to Retained Earnings (Acct. 439)
16	BalanceTransferredFromIncome Balance Transferred from Income (Account 433 less Account 418.1)		81,961,912	94,567,901
17	AppropriationsOfRetainedEarningsAbstract Appropriations of Retained Earnings (Acct. 436)
22	AppropriationsOfRetainedEarnings TOTAL Appropriations of Retained Earnings (Acct. 436)
23	DividendsDeclaredPreferredStockAbstract Dividends Declared-Preferred Stock (Account 437)
23.1	DividendsDeclaredPreferredStock Dividends Declared-Preferred Stock (Account 437)	238
29	DividendsDeclaredPreferredStock TOTAL Dividends Declared-Preferred Stock (Acct. 437)
30	DividendsDeclaredCommonStockAbstract Dividends Declared-Common Stock (Account 438)
30.1	DividendsDeclaredCommonStock Dividends Declared-Common Stock (Account 438)	238	77,000,000	53,000,000
36	DividendsDeclaredCommonStock TOTAL Dividends Declared-Common Stock (Acct. 438)		77,000,000	53,000,000
37	TransfersFromUnappropriatedUndistributedSubsidiaryEarnings Transfers from Acct 216.1, Unapprop. Undistrib. Subsidiary Earnings
38	UnappropriatedRetainedEarnings Balance - End of Period (Total 1,9,15,16,22,29,36,37)		729,882,351	673,519,212
39	AppropriatedRetainedEarningsAbstract APPROPRIATED RETAINED EARNINGS (Account 215)
45	AppropriatedRetainedEarnings TOTAL Appropriated Retained Earnings (Account 215)
	AppropriatedRetainedEarningsAmortizationReserveFederalAbstract APPROP. RETAINED EARNINGS - AMORT. Reserve, Federal (Account 215.1)
46	AppropriatedRetainedEarningsAmortizationReserveFederal TOTAL Approp. Retained Earnings-Amort. Reserve, Federal (Acct. 215.1)
47	AppropriatedRetainedEarningsIncludingReserveAmortization TOTAL Approp. Retained Earnings (Acct. 215, 215.1) (Total 45,46)
48	RetainedEarnings TOTAL Retained Earnings (Acct. 215, 215.1, 216) (Total 38, 47) (216.1)		729,882,351	673,519,212
	UnappropriatedUndistributedSubsidiaryEarningsAbstract UNAPPROPRIATED UNDISTRIBUTED SUBSIDIARY EARNINGS (Account Report only on an Annual Basis, no Quarterly)
49	UnappropriatedUndistributedSubsidiaryEarnings Balance-Beginning of Year (Debit or Credit)
50	EquityInEarningsOfSubsidiaryCompanies Equity in Earnings for Year (Credit) (Account 418.1)
51	DividendsReceived (Less) Dividends Received (Debit)
52	ChangesUnappropriatedUndistributedSubsidiaryEarningsCredits TOTAL other Changes in unappropriated undistributed subsidiary earnings for the year
53	UnappropriatedUndistributedSubsidiaryEarnings Balance-End of Year (Total lines 49 thru 52)

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

STATEMENT OF CASH FLOWS
Codes to be used:(a) Net Proceeds or Payments;(b)Bonds, debentures and other long-term debt; (c) Include commercial paper; and (d) Identify separately such items as investments, fixed assets, intangibles, etc. Information about noncash investing and financing activities must be provided in the Notes to the Financial statements. Also provide a reconciliation between "Cash and Cash Equivalents at End of Period" with related amounts on the Balance Sheet. Operating Activities - Other: Include gains and losses pertaining to operating activities only. Gains and losses pertaining to investing and financing activities should be reported in those activities. Show in the Notes to the Financials the amounts of interest paid (net of amount capitalized) and income taxes paid. Investing Activities: Include at Other (line 31) net cash outflow to acquire other companies. Provide a reconciliation of assets acquired with liabilities assumed in the Notes to the Financial Statements. Do not include on this statement the dollar amount of leases capitalized per the USofA General Instruction 20; instead provide a reconciliation of the dollar amount of leases capitalized with the plant cost.
Line No.	Description (See Instructions No.1 for explanation of codes) (a)	Current Year to Date Quarter/Year (b)	Previous Year to Date Quarter/Year (c)
1	NetCashFlowFromOperatingActivitiesAbstract Net Cash Flow from Operating Activities
2	NetIncomeLoss Net Income (Line 78(c) on page 117)	81,961,912	94,567,898
3	NoncashChargesCreditsToIncomeAbstract Noncash Charges (Credits) to Income:
4	DepreciationAndDepletion Depreciation and Depletion	105,264,245	102,468,359
5	NoncashAdjustmentsToCashFlowsFromOperatingActivities Amortization of (Specify) (footnote details)
5.1	NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription Amortization of
5.2	NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription Capital Leases and Other	1,737,495	1,216,782
5.3	NoncashAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other Non Cash Charges	1,017,449	909,179
8	DeferredIncomeTaxesNet Deferred Income Taxes (Net)	3,237,879	7,924,026
9	InvestmentTaxCreditAdjustmentsNet Investment Tax Credit Adjustment (Net)
10	NetIncreaseDecreaseInReceivablesOperatingActivities Net (Increase) Decrease in Receivables	10,996,994	15,749,392
11	NetIncreaseDecreaseInInventoryOperatingActivities Net (Increase) Decrease in Inventory	1,299,855	1,354,057
12	NetIncreaseDecreaseInAllowancesInventoryOperatingActivities Net (Increase) Decrease in Allowances Inventory
13	NetIncreaseDecreaseInPayablesAndAccruedExpensesOperatingActivities Net Increase (Decrease) in Payables and Accrued Expenses	44,695,805	11,291,795
14	NetIncreaseDecreaseInOtherRegulatoryAssetsOperatingActivities Net (Increase) Decrease in Other Regulatory Assets	91,890	9,919,225
15	NetIncreaseDecreaseInOtherRegulatoryLiabilitiesOperatingActivities Net Increase (Decrease) in Other Regulatory Liabilities	619,970	366,510
16	AllowanceForOtherFundsUsedDuringConstructionOperatingActivities (Less) Allowance for Other Funds Used During Construction	6,501,015	3,060,949
17	UndistributedEarningsFromSubsidiaryCompaniesOperatingActivities (Less) Undistributed Earnings from Subsidiary Companies
18	OtherAdjustmentsToCashFlowsFromOperatingActivities Other (provide details in footnote):
18.1	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other (provide details in footnote):
18.2	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other: Net Changes in Other Current Assets	11,997,881	24,675,160
18.3	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other: Pension Contribution
18.4	OtherAdjustmentsToCashFlowsFromOperatingActivitiesDescription Other: Net	461,533	693,665
22	NetCashFlowFromOperatingActivities Net Cash Provided by (Used in) Operating Activities (Total of Lines 2 thru 21)	137,753,067	162,128,053
24	CashFlowsFromInvestmentActivitiesAbstract Cash Flows from Investment Activities:
25	ConstructionAndAcquisitionOfPlantIncludingLandAbstract Construction and Acquisition of Plant (including land):
26	GrossAdditionsToUtilityPlantLessNuclearFuelInvestingActivities Gross Additions to Utility Plant (less nuclear fuel)	267,132,222	163,696,799
27	GrossAdditionsToNuclearFuelInvestingActivities Gross Additions to Nuclear Fuel
28	GrossAdditionsToCommonUtilityPlantInvestingActivities Gross Additions to Common Utility Plant
29	GrossAdditionsToNonutilityPlantInvestingActivities Gross Additions to Nonutility Plant	793,417	216,266
30	AllowanceForOtherFundsUsedDuringConstructionInvestingActivities (Less) Allowance for Other Funds Used During Construction	4,095,917	1,398,382
31	OtherConstructionAndAcquisitionOfPlantInvestmentActivities Other (provide details in footnote):
31.1	OtherConstructionAndAcquisitionOfPlantInvestmentActivitiesDescription Other (provide details in footnote):
31.2	OtherConstructionAndAcquisitionOfPlantInvestmentActivitiesDescription Other: Net	4,095,917	1,398,382
34	CashOutflowsForPlant Cash Outflows for Plant (Total of lines 26 thru 33)	267,925,639	163,913,065
36	AcquisitionOfOtherNoncurrentAssets Acquisition of Other Noncurrent Assets (d)
37	ProceedsFromDisposalOfNoncurrentAssets Proceeds from Disposal of Noncurrent Assets (d)
39	InvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies Investments in and Advances to Assoc. and Subsidiary Companies
40	ContributionsAndAdvancesFromAssociatedAndSubsidiaryCompanies Contributions and Advances from Assoc. and Subsidiary Companies
41	DispositionOfInvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompaniesAbstract Disposition of Investments in (and Advances to)
42	DispositionOfInvestmentsInAndAdvancesToAssociatedAndSubsidiaryCompanies Disposition of Investments in (and Advances to) Associated and Subsidiary Companies
44	PurchaseOfInvestmentSecurities Purchase of Investment Securities (a)
45	ProceedsFromSalesOfInvestmentSecurities Proceeds from Sales of Investment Securities (a)
46	LoansMadeOrPurchased Loans Made or Purchased
47	CollectionsOnLoans Collections on Loans
49	NetIncreaseDecreaseInReceivablesInvestingActivities Net (Increase) Decrease in Receivables
50	NetIncreaseDecreaseInInventoryInvestingActivities Net (Increase) Decrease in Inventory
51	NetIncreaseDecreaseInAllowancesHeldForSpeculationInvestingActivities Net (Increase) Decrease in Allowances Held for Speculation
52	NetIncreaseDecreaseInPayablesAndAccruedExpensesInvestingActivities Net Increase (Decrease) in Payables and Accrued Expenses
53	OtherAdjustmentsToCashFlowsFromInvestmentActivities Other (provide details in footnote):
53.1	OtherAdjustmentsToCashFlowsFromInvestmentActivitiesDescription Other (provide details in footnote):
57	CashFlowsProvidedFromUsedInInvestmentActivities Net Cash Provided by (Used in) Investing Activities (Total of lines 34 thru 55)	267,925,639	163,913,065
59	CashFlowsFromFinancingActivitiesAbstract Cash Flows from Financing Activities:
60	ProceedsFromIssuanceAbstract Proceeds from Issuance of:
61	ProceedsFromIssuanceOfLongTermDebtFinancingActivities Long-Term Debt (b)
62	ProceedsFromIssuanceOfPreferredStockFinancingActivities Preferred Stock
63	ProceedsFromIssuanceOfCommonStockFinancingActivities Common Stock
64	OtherAdjustmentsToCashFlowsFromFinancingActivities Other (provide details in footnote):
64.1	OtherAdjustmentsToCashFlowsFromFinancingActivitiesDescription Other (provide details in footnote):
66	NetIncreaseInShortTermDebt Net Increase in Short-Term Debt (c)	125,000,000	70,000,000
67	OtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities Other (provide details in footnote):
67.1	DescriptionForOtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities Other (provide details in footnote):
67.2	DescriptionForOtherAdjustmentsByOutsideSourcesToCashFlowsFromFinancingActivities Other: Affiliated borrowings from parent	90,000,000	30,000,000
70	CashProvidedByOutsideSources Cash Provided by Outside Sources (Total 61 thru 69)	215,000,000	100,000,000
72	PaymentsForRetirementAbstract Payments for Retirement of:
73	PaymentsForRetirementOfLongTermDebtFinancingActivities Long-term Debt (b)
74	PaymentsForRetirementOfPreferredStockFinancingActivities Preferred Stock
75	PaymentsForRetirementOfCommonStockFinancingActivities Common Stock
76	OtherRetirementsOfBalancesImpactingCashFlowsFromFinancingActivities Other (provide details in footnote):
76.1	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Other (provide details in footnote):
76.2	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Debt Issuance Costs	54,493
76.3	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Other: Affiliated borrowing repayments to parent	5,000,000	5,000,000
76.4	DescriptionOfOtherRetirementsImpactingCashFlowsFromFinancingActivities Distribution to Parent	77,000,000	53,000,000
78	NetDecreaseInShortTermDebt Net Decrease in Short-Term Debt (c)	5,000,000	20,000,000
80	DividendsOnPreferredStock Dividends on Preferred Stock
81	DividendsOnCommonStock Dividends on Common Stock
83	CashFlowsProvidedFromUsedInFinancingActivities Net Cash Provided by (Used in) Financing Activities (Total of lines 70 thru 81)	127,945,507	22,000,000
85	NetIncreaseDecreaseInCashAndCashEquivalentsAbstract Net Increase (Decrease) in Cash and Cash Equivalents
86	NetIncreaseDecreaseInCashAndCashEquivalents Net Increase (Decrease) in Cash and Cash Equivalents (Total of line 22, 57 and 83)	2,227,065	20,214,988
88	CashAndCashEquivalents Cash and Cash Equivalents at Beginning of Period	16,906,200	15,489,558
90	CashAndCashEquivalents Cash and Cash Equivalents at End of Period	14,679,135	35,704,546

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

NOTES TO FINANCIAL STATEMENTS

Use the space below for important notes regarding the Balance Sheet, Statement of Income for the year, Statement of Retained Earnings for the year, and Statement of Cash Flows, or any account thereof. Classify the notes according to each basic statement, providing a subheading for each statement except where a note is applicable to more than one statement.
Furnish particulars (details) as to any significant contingent assets or liabilities existing at end of year, including a brief explanation of any action initiated by the Internal Revenue Service involving possible assessment of additional income taxes of material amount, or of a claim for refund of income taxes of a material amount initiated by the utility. Give also a brief explanation of any dividends in arrears on cumulative preferred stock.
For Account 116, Utility Plant Adjustments, explain the origin of such amount, debits and credits during the year, and plan of disposition contemplated, giving references to Commission orders or other authorizations respecting classification of amounts as plant adjustments and requirements as to disposition thereof.
Where Accounts 189, Unamortized Loss on Reacquired Debt, and 257, Unamortized Gain on Reacquired Debt, are not used, give an explanation, providing the rate treatment given these items. See General Instruction 17 of the Uniform System of Accounts.
Give a concise explanation of any retained earnings restrictions and state the amount of retained earnings affected by such restrictions.
If the notes to financial statements relating to the respondent company appearing in the annual report to the stockholders are applicable and furnish the data required by instructions above and on pages 114-121, such notes may be included herein.
For the 3Q disclosures, respondent must provide in the notes sufficient disclosures so as to make the interim information not misleading. Disclosures which would substantially duplicate the disclosures contained in the most recent FERC Annual Report may be omitted.
For the 3Q disclosures, the disclosures shall be provided where events subsequent to the end of the most recent year have occurred which have a material effect on the respondent. Respondent must include in the notes significant changes since the most recently completed year in such items as: accounting principles and practices; estimates inherent in the preparation of the financial statements; status of long-term contracts; capitalization including significant new borrowings or modifications of existing financing agreements; and changes resulting from business combinations or dispositions. However were material contingencies exist, the disclosure of such matters shall be provided even though a significant change since year end may not have occurred.
Finally, if the notes to the financial statements relating to the respondent appearing in the annual report to the stockholders are applicable and furnish the data required by the above instructions, such notes may be included herein.

General Information

DQE Holdings LLC (the LLC), a Delaware limited liability company, was formed in July 2006 to acquire Duquesne Light Holdings, Inc. (Holdings) and had no principal operations prior to the acquisition of Holdings on May 31, 2007.

The LLC is a holding company. The LLC is owned by a consortium of private equity investors (the Members) including Epsom Investment Pte. Ltd (Epsom) at 44.4%, Three Rivers Utility Holdings, LLC at 30.4% and AIA Montana LLC (AIA) at 25.2%.

Duquesne Light Company (the Company), a direct subsidiary of Holdings and an indirect subsidiary of the LLC, was formed in 1912 by the consolidation and merger of three constituent companies. The Company operates as a limited liability company. The Company is an electric utility engaged in the supply (through its provider-of-last-resort service (POLR)), transmission and distribution of electric energy.

Accounting Policies

Basis of Accounting

All amounts presented within the footnotes are rounded in millions of dollars unless otherwised noted.

The financial statements included herein are prepared in accordance with the accounting requirements of the FERC as set forth in its applicable USofA and published accounting releases, which is a comprehensive basis of accounting other than generally accepted accounting principles in the United States (GAAP). The primary differences between FERC accounting requirements and GAAP are (1) deferred tax assets (Account 190) are shown on the asset side of the comparative balance sheet for FERC purposes but are netted against deferred tax liabilities under GAAP; (2) the tax effect of the items included in the Statement of Accumulated Comprehensive Income and Comprehensive Income is not required to be disclosed separately for FERC, but is required under GAAP; (3) GAAP requires the presentation of certain information about operating segments which is not included for FERC reporting purposes; (4) in accordance with Accounting Standards Codification (ASC) No. 740 – Income Taxes, the Company recognized uncertain tax positions that were recorded as current and non-current tax reserve liabilities under GAAP. FERC requires such uncertain tax positions to be recorded within taxes accrued if they represent permanent differences and deferred tax liabilities if they represent temporary differences; (5) for FERC purposes debt issuance costs are shown as assets on the comparative balance sheet within unamortized debt expense (Account 181) and unamortized loss on reacquired debt (Account 189), but debt issuance costs are netted against the long-term debt liability for GAAP purposes; (6) GAAP requires that the gains and losses recorded to the income statements related to unrealized non-hedging activities be recorded along with the underlying transaction. For GAAP reporting purposes, non-hedging activities are recorded as operating expenses. For FERC reporting purposes, non-hedging transactions are recorded as below-the-line amounts in accordance with FERC Order No. 627; (7) GAAP requires under Accounting Standards Update (ASU) 2017-07 that net periodic pension and postretirement benefit cost components associated with service costs be reported in the same financial statement line as employee compensation costs and all other net periodic benefit costs be presented separately outside of income from operations. For FERC reporting purposes, the Company has continued to report all net periodic pension and postretirement benefit cost components together in their respective jurisdictional account without separation of their various cost components; (8) GAAP also requires under ASU 2017-07 that net periodic pension and postretirement benefit cost components associated with service costs are the only allowable costs for capitalization. Other non-service cost components of net periodic benefit costs must be presented as an expense. For FERC reporting purposes, the Company has continued to capitalize allowable charges associated with net periodic benefit costs regardless of their cost component; (9) GAAP requires cash and cash equivalents to be presented net of outstanding checks, however for FERC reporting purposes outstanding checks are presented in accounts payable; (10) GAAP requires under ASU 2016-02 that lessees recognize a lease liability and a right-of-use asset for all leases, including operating leases, with a term greater than twelve months on the balance sheet. For FERC reporting purposes, the Company has elected not to show operating lease right-of-use assets and operating lease liabilities on the balance sheet, creating a FERC to GAAP difference, in order to ensure that there is no impact on existing ratemaking processes; (11) GAAP requires restricted cash to be presented separately from cash and cash equivalents, however for FERC reporting purposes restricted cash should be combined with cash and cash equivalents; (12) GAAP allows under ASU 2018-02 for a reclassification from accumulated other comprehensive income (AOCI) to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (TCJA). For FERC reporting purposes, the FERC issued an order that provided approval for this reclassification if both AOCI and retained earnings are included in

the Company’s capital structure for ratemaking purposes. Since the Company has not included AOCI in the capital part of the FERC formula, the Company will not report the stranded tax effects in AOCI and retained earnings for FERC purposes, creating a FERC to GAAP difference.

The Company’s electricity delivery business segment is subject to regulation by the PUC and the FERC with respect to rates for delivery of electric power, accounting, issuance of securities and other matters. The electricity supply business segment is regulated by the FERC for wholesale power sales.

The electricity delivery business segment operations are subject to utility-specific accounting provisions and accordingly reflect regulatory assets and liabilities consistent with cost-based ratemaking regulations. Regulatory assets established by the Company represent probable future revenue, because provisions for these costs are currently included, or are expected to be included, in charges to electric utility customers through the ratemaking process. Regulatory liabilities established by the Company represent probable future reductions in revenues associated with amounts that are to be credited to customers through the ratemaking process. The preparation of financial statements in conformity with USofA requires management to make estimates and assumptions with respect to values and conditions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements. The reported amounts of revenues and expenses during the reporting period also may be affected by the estimates and assumptions management is required to make. Management evaluates these estimates on an ongoing basis, using historical experience and other methods considered reasonable in the particular circumstances. Nevertheless, actual results may differ significantly from these estimates.

Subsequent Events

The Company has evaluated the impact of events occurring after June 30, 2023 through August 28, 2023. No subsequent events were identified that would materially affect the financial statements or notes to the financial statements.

Rate Matters

The Company is involved in rate and regulatory proceedings with the FERC and the PUC. This note is a discussion of rate matters that could have a material effect on the Company’s condensed financial statements.

POLR Service

Duquesne Light’s customers may choose to receive their electric energy from an alternative EGS; otherwise, they will be served through Duquesne Light’s POLR arrangements. Customers who select an alternative EGS pay for generation and transmission charges set by that supplier and pay Duquesne Light’s distribution charges.

In January 2021, Duquesne Light received approval for its POLR IX plan which commenced on June 1, 2021 and will remain effective through May 31, 2025. Customers who do not choose an alternative EGS are served through Duquesne Light’s POLR IX plan. POLR IX provides for a descending clock auction process for the determination of electric generation supply rates. This auction process is designed to provide greater transparency to all participants and further ensures that POLR customers are receiving the lowest price possible at the time of the auction. POLR IX plan provisions include conducting an annual auction process for hourly price service (HPS) customers, the introduction of a combination of 12 and 24 month laddered contracts to residential and small commercial and industrial customers to provide greater rate stability and the recovery of the incremental EGS uncollectible expenses from Duquesne Light’s purchase of receivable program through customer billings. The POLR IX plan allows Duquesne Light to enter into long-term purchased power agreements (PPA) with developers of utility scale solar projects for a quantity of up to 7 megawatts (MW). In May 2022, Duquesne Light received PUC approval of its solar PPA provided to the PUC in April 2022. The POLR IX plan also approves the recovery of net-metered excess generation costs and provides for an Electric Vehicle Time of Use (EV-TOU) rate pilot program which would establish an optional EV-TOU for residential, small and medium commercial and industrial customers with less than 200 kilowatts of demand who use default service. Duquesne Light continues to act as an administrative intermediary only.

Transmission and Distribution Rates

On July 21, 2021, the Pennsylvania Supreme Court issued a decision in McCloskey v. Pa. PUC concerning the proper calculation of the DSIC for public utilities. The decision overturns the longstanding practice of excluding state income tax deductions and accumulated deferred incomes taxes (ADIT) from the DSIC calculation

to align with statutory interpretations of Section 1301.1(a) of the Public Utility Code. The Pennsylvania Supreme Court remanded the matter to the PUC to provide public utilities with additional guidance for incorporating these changes into their DSIC calculations. On October 27, 2022, the PUC issued an Order providing a new DSIC tariff model for utilities to use which offers flexibility in how utilities incorporate state income tax and ADIT deductions into the DSIC calculation.

On December 15, 2022, the PUC approved Duquesne Light’s revision to its DSIC tariff, which allowed Duquesne Light to implement the proposed tariff changes with its quarterly DSIC update effective January 1, 2023. The PUC did not address the remaining issue of potential refunds to customers that may be required due to the McCloskey decision. A subsequent complaint or new proceeding regarding the retroactivity for refunds may still be litigated in the future. Duquesne Light cannot predict the ultimate outcome of this matter.

On July 8, 2022, Pennsylvania’s governor signed into law a reduction to the corporate net income tax rate to be phased in over nine years from the then current rate of 9.99% to 4.99% by 2031. In 2022, Duquesne Light recorded an estimated decrease to its net deferred income tax liability of $98.8 million with a corresponding increase to the net deferred income taxes regulatory liability of $95.5 million for the amounts that are expected to be settled through future customer rates and a decrease to income tax expense of $3.3 million (net of federal taxes). Duquesne Light will continue to evaluate the impacts of the law change and revalue its deferred income tax assets and liabilities accordingly. The first reduction in the corporate net income tax rate was effective on January 1, 2023, and Duquesne Light reflected the estimated impact associated with the change in the corporate net income tax rate from 9.99% to 8.99% within Duquesne Light’s State Tax Adjustment Surcharge, effective January 1, 2023.

Annually, Duquesne Light is permitted through its PUC approved Transmission Service Charge (TSC) filing to recover on a dollar-for-dollar basis the expenses it incurs from PJM as a provider of transmission service to retail customers taking POLR service, as well as update Duquesne Light’s retail transmission rates to reflect the annually updated FERC revenue requirements and rates. In May 2023 and May 2022, Duquesne Light filed its annual formula update with the FERC resulting in an increase in revenue of $13.2 million for the period from June 2023 through May 2024 and an increase in revenue of $16.7 million for the period from June 2022 through May 2023. Simultaneously, Duquesne Light also filed with the PUC for a pass through of costs in its state transmission rates. The updated formula and state rates are effective for customers beginning June 1st of each year.

Fair Value Measures

The FASB provides a framework for measuring fair value under GAAP. Fair value is defined as the price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between the willing market participants on the measurement date. The fair value hierarchy prioritizes the inputs utilized to measure fair value. The hierarchy gives the highest priority to unadjusted quoted market prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The Company uses, as appropriate, a market approach (generally, data from market transactions), income approach (generally, present value techniques and option-pricing models), and/or a cost approach (generally, replacement cost) to measure the fair value of an asset or a liability.The three levels of the fair value hierarchy are as follows:

Level 1 – Financial instruments that are valued using quoted prices available in active markets for identical assets or liabilities as of the reporting date. Active markets are those where transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. The Company’s Level 1 assets primarily consist of money market funds listed on active exchanges. The Company uses quoted prices in active markets for identical assets in valuing its money market funds.

Level 2 – Financial instruments that are valued using models or other valuation methodologies based on assumptions that are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or supported by observable levels at which transactions are executed in the marketplace. These models are primarily industry-standard models that consider various assumptions including quoted forward prices for commodities, time value, volatility factors and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. The Company did not hold any Level 2 assets or liabilities as of June 30, 2023 and December 31, 2022.

Level 3 – Financial instruments that are valued using pricing inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value. The Company did not hold any Level 3 assets or liabilities as of June 30, 2023 and December 31, 2022.

In some cases, the inputs used to measure fair value may meet the definition of more than one level within the fair value hierarchy. The lowest level input that is significant to the fair value measurement in its totality determines the applicable level in the fair value hierarchy. The Company’s assessment of the significance of a particular input to the fair value measurement requires judgment, and may affect the valuation of fair value assets and liabilities and their placement within the fair value hierarchy levels.

The Company measures the fair value of other long-lived assets on a non-recurring basis using Level 2 or Level 3 inputs when the assets are determined to be impaired. The carrying values of accounts receivable, accounts payable, inventory and other short-term assets and liabilities are deemed to be reasonable estimates of fair values because of their short-term nature.

The Company’s assets measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022 consisted of the following:


(Milllions of Dollars)
(As of June 30, 2023)
Recurring Fair Value Measures	Level 1		Level 2		Level 3		Other		Cash Collateral		Total
Assets: Cash and cash equivalents (a)	$	14.7	$	—	$	—	$	—	$	—	$	14.7
Total assets	$	14.7	$	—	$	—	$	—	$	—	$	14.7

(a)Level 1 amounts primarily represent investments in money market funds.


(Milllions of Dollars)
(As of December 31, 2022)
Recurring Fair Value Measures	Level 1		Level 2		Level 3		Other		Cash Collateral		Total
Assets: Cash and cash equivalents (a)	$	16.9	$	—	$	—	$	—	$	—	$	16.9
Total assets	$	16.9	$	—	$	—	$	—	$	—	$	16.9

(a)Level 1 amounts primarily represent investments in money market funds.

Long-Term Debt and Revolving Credit Facilities

Bank Credit Facilities

The Company maintains a credit agreement which allows for a revolving credit facility borrowing capacity of $250.0 million with a maturity date of October 31, 2025. In February 2023, the Company closed on an amendment its credit agreement. The revisions to the credit agreement included replacing London Interbank Offer Rate (LIBOR) as the benchmark interest rate with the Secured Overnight Financing Rate (SOFR). All other aspects of the agreement were not materially amended.

The Company is permitted to increase the size of its revolving credit facility by up to $50.0 million, subject to the satisfaction of certain conditions. This expansion feature is unfunded. The revolving credit facility permits borrowings at SOFR (LIBOR through December 31, 2022) plus a margin of 0.75% to 1.25% or an alternate base rate plus a margin of 0.00% to 0.25%. There is also a credit spread adjustment of 0.10% related to the switch to SOFR as the benchmark interest rate. The revolving credit facility also has annual commitment fees ranging from 0.06% to 0.175%. Interest rates and commitment fees are based on the Company’s then-current senior debt rating. A portion of the revolving credit facility not in excess of $50.0 million is available for the issuance of LOCs.

The credit agreement contains a covenant package consistent with investment grade companies, including default provisions for non-payment. As of June 30, 2023 and December 31, 2022, the Company was in compliance with these covenants.

As of June 30, 2023 and December 31, 2022, the Company had $120.0 million and zero borrowings under the revolving credit facility. As of June 30, 2023 and December 31, 2022, the Company had no current debt maturities. As of June 30, 2023 and December 31, 2022, the Company had $0.5 million and $0.6 million of outstanding LOCs issued under the revolving credit facility, respectively, and no outstanding LOCs issued under stand-alone facilities unrelated to the revolving credit facility

Long-Term Debt Transactions

On October 3, 2022, Duquesne Light closed on a $130.0 million thirty-year first mortgage bond issuance in a private placement offering. The issuance has a maturity date of October 3, 2052 and the bonds will bear interest at an annual rate of 4.59%. The proceeds are intended to repay existing indebtedness and for general corporate purposes, including capital expenditures.

Short-Term Borrowing Affiliated Interest Agreement

An existing PUC approved affiliated interest agreement is maintained between the Company and Holdings, which authorizes short-term borrowings at market rates from Holdings with a maximum borrowing capacity of $300.0 million. In May 2023, the PUC approved the Company’s request to amend to this agreement, changing the benchmark interest rate from LIBOR to SOFR. No other aspects of the agreement were amended. As of June 30, 2023, $125.0 million in borrowings were outstanding under this agreement.

Securities Certificates

Short-Term Debt Securities Certificate: In September 2022, the FERC approved the Company’s application for a securities certificate requesting approval to issue short-term securities in an amount not to exceed $600.0 million. As of June 30, 2023, the Company had $245.0 million of borrowings outstanding under this order. This amount is the sum of $125.0 million of short-term intercompany borrowings between the Company and Holdings and the Company’s $120.0 million in borrowings under the revolving credit facility.

Long-Term Debt Securities Certificates: A PUC securities certificate exists allowing the Company to issue up to $400.0 million of long-term debt in the form of first mortgage bonds, unsecured notes, bank borrowings or similar borrowings through December 31, 2023. Considering the Company’s $130.0 million first mortgage bond issuance, discussed above, the total available amount under this securities certificate as of June 30, 2023 was $270.0 million. In July 2023, the Company filed an application with the PUC requesting a new certificate issued with an authorization of $400.0 million of new debt. The Company cannot predict the outcome of this request.

Commitments and Contingencies

Income Taxes

Currently, the Company is not subject to any federal or state income tax examinations. The IRS previously completed examinations of the LLC’s consolidated U.S. federal income tax returns for tax years 2007 through 2012. There are no unresolved matters with the IRS from these examinations. The Company remains subject to examination by the IRS and Pennsylvania for tax years ending December 31, 2015 through December 31, 2023.

Employees – IBEW Contract

The Company is a party to a labor contract with the IBEW Local 29, which represents 50.0% of its approximately 1,700 employees. In October 2019, members of the IBEW Local 29 ratified a new four year labor contract extension that commenced on October 1, 2019 and expires on September 30, 2023.

Litigation

In the ordinary course of business, various legal claims and proceedings are pending or threatened against the Company. While the amounts claimed may be substantial, the Company is unable to predict with certainty the ultimate outcome of such claims and proceedings. The Company has established reserves for pending litigation, which it believes are adequate, and after consultation with counsel and giving appropriate consideration to available insurance, the Company believes that the ultimate outcome of any matter currently pending will not materially affect the financial statements.

Employee Benefits

Pension Benefits

Transactions with Affiliates

As a wholly owned subsidiary of Holdings, the Company has various transactions with Holdings and its subsidiaries (the Company’s affiliates).

During the six months ended June 30, 2023 and 2022, the Company made dividend payments to Holdings totaling $77.0 million and $53.0 million, respectively.

In addition to the short-term borrowing affiliated interest agreement described in the Long-Term Debt and Revolving Credit Facilities note, the Company participates in a tax sharing arrangement with Holdings to provide, among other things, for the payment of taxes for periods during which Holdings and the Company are included in the same consolidated group for federal tax purposes. The Company shares in the consolidated tax liability to the extent of the Company’s income or loss for the year. The Company made tax sharing payments of $16.0 million and $4.5 million to Holdings for the six months ended June 30, 2023 and 2022, respectively.

Supplemental Cash Flow Disclosure

Reconciliation between “Cash and Cash Equivalents at End of Period” with related amounts on the Balance Sheet is as follows:


	As of
	June 30,		December 31,
	2023		2022
Cash (Account 131)	$	8,669,136	$	4,896,200
Working Fund (Account 135)	10,000		10,000
Temporary Cash Investments (Account 136)	6,000,000		12,000,000
Total	$	14,679,136	$	16,906,200


	(Millions of Dollars)
	Six Month Periods Ended June 30,
Cash paid during the year	2023		2022
Interest - net of amount capitalized	$	35.0	$	29.8
Income taxes paid - net	$	20.9	$	8.4

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

STATEMENTS OF ACCUMULATED COMPREHENSIVE INCOME, COMPREHENSIVE INCOME, AND HEDGING ACTIVITIES
Report in columns (b),(c),(d) and (e) the amounts of accumulated other comprehensive income items, on a net-of-tax basis, where appropriate. Report in columns (f) and (g) the amounts of other categories of other cash flow hedges. For each category of hedges that have been accounted for as "fair value hedges", report the accounts affected and the related amounts in a footnote. Report data on a year-to-date basis.
Line No.	Item (a)	Unrealized Gains and Losses on Available-For-Sale Securities (b)	Minimum Pension Liability Adjustment (net amount) (c)	Foreign Currency Hedges (d)	Other Adjustments (e)	Other Cash Flow Hedges Interest Rate Swaps (f)	Other Cash Flow Hedges [Specify] (g)	Totals for each category of items recorded in Account 219 (h)	Net Income (Carried Forward from Page 116, Line 78) (i)	Total Comprehensive Income (j)
1	Balance of Account 219 at Beginning of Preceding Year				1,283,277			1,283,277
2	Preceding Quarter/Year to Date Reclassifications from Account 219 to Net Income
3	Preceding Quarter/Year to Date Changes in Fair Value
4	Total (lines 2 and 3)								94,567,898	94,567,898
5	Balance of Account 219 at End of Preceding Quarter/Year				1,283,277			1,283,277
6	Balance of Account 219 at Beginning of Current Year				1,482,316			1,482,316
7	Current Quarter/Year to Date Reclassifications from Account 219 to Net Income
8	Current Quarter/Year to Date Changes in Fair Value				58,436			58,436
9	Total (lines 7 and 8)				58,436			58,436	81,961,912	81,903,477
10	Balance of Account 219 at End of Current Quarter/Year				1,423,880			1,423,880

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

SUMMARY OF UTILITY PLANT AND ACCUMULATED PROVISIONS FOR DEPRECIATION. AMORTIZATION AND DEPLETION
Report in Column (c) the amount for electric function, in column (d) the amount for gas function, in column (e), (f), and (g) report other (specify) and in column (h) common function.
Line No.	Classification (a)	Total Company For the Current Year/Quarter Ended (b)	Electric (c)	Gas (d)	Other (Specify) (e)	Other (Specify) (f)	Other (Specify) (g)	Common (h)
1	UtilityPlantAbstract UTILITY PLANT
2	UtilityPlantInServiceAbstract In Service
3	UtilityPlantInServiceClassified Plant in Service (Classified)	4,917,371,729	4,917,371,729
4	UtilityPlantInServicePropertyUnderCapitalLeases Property Under Capital Leases
5	UtilityPlantInServicePlantPurchasedOrSold Plant Purchased or Sold
6	UtilityPlantInServiceCompletedConstructionNotClassified Completed Construction not Classified	576,644,330	576,644,330
7	UtilityPlantInServiceExperimentalPlantUnclassified Experimental Plant Unclassified
8	UtilityPlantInServiceClassifiedAndUnclassified Total (3 thru 7)	5,494,016,059	5,494,016,059
9	UtilityPlantLeasedToOthers Leased to Others
10	UtilityPlantHeldForFutureUse Held for Future Use
11	ConstructionWorkInProgress Construction Work in Progress	375,432,834	375,432,834
12	UtilityPlantAcquisitionAdjustment Acquisition Adjustments
13	UtilityPlantAndConstructionWorkInProgress Total Utility Plant (8 thru 12)	5,869,448,893	5,869,448,893
14	AccumulatedProvisionForDepreciationAmortizationAndDepletionOfPlantUtility Accumulated Provisions for Depreciation, Amortization, & Depletion	1,860,100,400	1,860,100,400
15	UtilityPlantNet Net Utility Plant (13 less 14)	4,009,348,493	4,009,348,493
16	DetailOfAccumulatedProvisionsForDepreciationAmortizationAndDepletionAbstract DETAIL OF ACCUMULATED PROVISIONS FOR DEPRECIATION, AMORTIZATION AND DEPLETION
17	AccumulatedProvisionForDepreciationAmortizationAndDepletionUtilityPlantInServiceAbstract In Service:
18	DepreciationUtilityPlantInService Depreciation	1,550,992,559	1,550,992,559
19	AmortizationAndDepletionOfProducingNaturalGasLandAndLandRightsutilityPlantInService Amortization and Depletion of Producing Natural Gas Land and Land Rights
20	AmortizationOfUndergroundStorageLandAndLandRightsutilityPlantInService Amortization of Underground Storage Land and Land Rights
21	AmortizationOfOtherUtilityPlantUtilityPlantInService Amortization of Other Utility Plant	309,107,841	309,107,841
22	DepreciationAmortizationAndDepletionUtilityPlantInService Total in Service (18 thru 21)	1,860,100,400	1,860,100,400
23	DepreciationAmortizationAndDepletionUtilityPlantLeasedToOthersAbstract Leased to Others
24	DepreciationUtilityPlantLeasedToOthers Depreciation
25	AmortizationAndDepletionUtilityPlantLeasedToOthers Amortization and Depletion
26	DepreciationAmortizationAndDepletionUtilityPlantLeasedToOthers Total Leased to Others (24 & 25)
27	DepreciationAndAmortizationUtilityPlantHeldForFutureUseAbstract Held for Future Use
28	DepreciationUtilityPlantHeldForFutureUse Depreciation
29	AmortizationUtilityPlantHeldForFutureUse Amortization
30	DepreciationAndAmortizationUtilityPlantHeldForFutureUse Total Held for Future Use (28 & 29)
31	AbandonmentOfLeases Abandonment of Leases (Natural Gas)
32	AmortizationOfPlantAcquisitionAdjustment Amortization of Plant Acquisition Adjustment
33	AccumulatedProvisionForDepreciationAmortizationAndDepletionOfPlantUtility Total Accum Prov (equals 14) (22,26,30,31,32)	1,860,100,400	1,860,100,400

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

Electric Plant In Service and Accum Provision For Depr by Function
Report below the original cost of plant in service by function. In addition to Account 101, include Account 102, and Account 106. Report in column (b) the original cost of plant in service and in column(c) the accumulated provision for depreciation and amortization by function.
Line No.	Item (a)	Plant in Service Balance at End of Quarter (b)	Accumulated Depreciation And Amortization Balance at End of Quarter (c)
1	Intangible Plant	430,473,748	309,107,941
2	Steam Production Plant
3	Nuclear Production Plant
4	Hydraulic Production - Conventional
5	Hydraulic Production - Pumped Storage
6	Other Production
7	Transmission	1,118,390,964	334,337,224
8	Distribution	3,525,461,578	1,039,088,036
9	Regional Transmission and Market Operation
10	General	419,689,769	177,567,199
11	TOTAL (Total of lines 1 through 10)	5,494,016,059	1,860,100,400

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

Transmission Service and Generation Interconnection Study Costs
Report the particulars (details) called for concerning the costs incurred and the reimbursements received for performing transmission service and generator interconnection studies. List each study separately. In column (a) provide the name of the study. In column (b) report the cost incurred to perform the study at the end of period. In column (c) report the account charged with the cost of the study. In column (d) report the amounts received for reimbursement of the study costs at end of period. In column (e) report the account credited with the reimbursement received for performing the study.
Line No.	DescriptionOfStudyPerformed Description (a)	StudyCostsIncurred Costs Incurred During Period (b)	StudyCostsAccountCharged Account Charged (c)	StudyCostsReimbursements Reimbursements Received During the Period (d)	StudyCostsAccountReimbursed Account Credited With Reimbursement (e)
1	Transmission Studies
20	Total
21	Generation Studies
22	CV Shop Cntr Solar Study	10,000	1730100
23	AG1-086 Imperial Solar (D)	38	1730100
24	Omega 3 MW Solar Study	10,000	1730100
39	Total	19,962
40	Grand Total	19,962

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

OTHER REGULATORY ASSETS (Account 182.3)
Report below the particulars (details) called for concerning other regulatory assets, including rate order docket number, if applicable. Minor items (5% of the Balance in Account 182.3 at end of period, or amounts less than $100,000 which ever is less), may be grouped by classes. For Regulatory Assets being amortized, show period of amortization.
				CREDITS
Line No.	DescriptionAndPurposeOfOtherRegulatoryAssets Description and Purpose of Other Regulatory Assets (a)	OtherRegulatoryAssets Balance at Beginning of Current Quarter/Year (b)	IncreaseDecreaseInOtherRegulatoryAssets Debits (c)	OtherRegulatoryAssetsWrittenOffAccountCharged Written off During Quarter/Year Account Charged (d)	OtherRegulatoryAssetsWrittenOffRecovered Written off During the Period Amount (e)	OtherRegulatoryAssets Balance at end of Current Quarter/Year (f)
1	(a) Compensated Absences	6,470,182		232.45		6,470,182
2	(b) Pension	119,723,032	13,980,476	Various	14,764,264	118,939,244
3	(c) Eligible Customer Lists - 2018	122,478		928	17,090	105,388
4	(d) Eligible Customer Lists - 2021	49,681		928	6,933	42,748
5	(e) POLR IX	356,028	2,659	426.2	58,845	299,842
6	(f) Smart Meters	20,504	1	Various	34	20,471
7	(g) FERC Formula Annual Update Filing	2,470,941	300,360	456.15	1,785,992	985,309
8	(h) Rider 5 Surcharge	11,898,046	49,998	Various	1,166,434	10,781,610
9	(i) COVID-19 Lost Revenues	2,624,546		Various	373,694	2,250,852
10	(j) Outage Management System (OMS)	3,089,999		908.07	1,030,009	2,059,990
11	(k) Electric Vehicle Rebate Program	259,645	20,000	131.01	34,568	245,077
12	(l) COVID-19 Incremental Uncollectible Expenses	3,651,872		904.02	509,564	3,142,308
13	(m) Rate Case Distribution - 2021	1,157,586		928	161,524	996,062
14	(n) Solor Purchase Power	78,900		Various	8,606	70,294
15	(o) RFP Generation	590,238		Various	590,238
16	(p) DSIC	387,544	43,799	Various	144,466	286,877
17	(q) Act 129 Energy Efficiency	7,027,834	1,797,988	Various	308,154	8,517,668
18	Annual Transmission Service Charge FIling		1,149,730	Various		1,149,730
44	TOTAL	159,979,056	17,345,011		20,960,415	156,363,652

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

FOOTNOTE DATA

(a) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

These amounts represent recovery of costs associated with employee vacation and are being recovered over a period of up to three years.

(b) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

These amounts represent future recoverable pension costs. Amounts are being recovered over the remaining life of the Company's retirement plan.

(c) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

Represents the costs incurred by the Company in order to update the electric Eligible Customers Lists (ECL), which are made available to Electric Generation Suppliers (EGSs). Costs will be recovered over a period of up to three years.

(d) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

Represents the costs incurred by the Company in order to update the electric Eligible Customers Lists (ECL), which are made available to Electric Generation Suppliers (EGSs). Costs will be recovered over a period of up to three years.

(e) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

These amounts represent future recoverable costs incurred related to the POLR IX filing and are amortized over a period of up to four years.

(f) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

Represents amounts associated with the under-recovery of costs associated with the Company's Smart Meters program. Amounts are amortized over a period of up to two years.

(g) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

Represents amounts recoverable under the Company's FERC Formula annual update to incorporate actual transmission revenue amount. Amounts are amortized for the period June 1 to May 31.

(h) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

These amounts represent recoverable by customers associated with the Company's Universal Services Programs. These amounts will be amortized over a period of up to three years.

(i) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

Represents lost revenues as a result of the COVID-19 pandemic.

(j) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

These amounts represent the future recovery of the Company's Outage Management System. Recovery was granted in the 2018 rate case and will be amortized through 2023.

(k) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

This balance represents spending related to customer rebates for infrastructure to provide electric service to charging stations available to the public. Amounts recoverable were granted in the 2021 rate case.

(l) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

Represents incremental uncollectible expenses incurred as a result of the COVID-19 pandemic as directed by the Pennsylvania PUC secretarial letter issued May 13, 2020.

(m) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

These amounts represent future recoverable costs incurred related to the Company's next distribution rate case filing.

(n) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

These amounts currently represent administrative fees incurred related to the Company's execution of a purchase power agreement (PPA) with a solar facility. Amounts are recoverable from default service customers in accordance with the Company's approved Default Service Plan IX. These amounts currently represent administrative fees incurred related to the Company's execution of a purchase power agreement (PPA) with a solar facility. Amounts are recoverable from default service customers in accordance with the Company's approved Default Service Plan IX through 5/31/25.

(o) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

Represents amounts recoverable by the Company's POLR program as reflected within Rider No. 8 - Default Service Supply for residential/lighting, small and medium commercial and industrial customers as well as Rider no. 9 - Day Head Hourly Price for over/under recovery of the the Company's portion of the Fixed Retail Administrative Charge.

(p) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

This balance relates to an undercollection of DSIC revenue.

(q) Concept: DescriptionAndPurposeOfOtherRegulatoryAssets

Represents amounts recoverable from Customers through the Company's Energy Efficiency Program. Amounts are recoverable over the next three years.

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

OTHER REGULATORY LIABILITIES (Account 254)
Report below the particulars (details) called for concerning other regulatory liabilities, including rate order docket number, if applicable. Minor items (5% of the Balance in Account 254 at end of period, or amounts less than $100,000 which ever is less), may be grouped by classes. For Regulatory Liabilities being amortized, show period of amortization.
			DEBITS
Line No.	Description and Purpose of Other Regulatory Liabilities (a)	Balance at Beginning of Current Quarter/Year (b)	Account Credited (c)	Amount (d)	Credits (e)	Balance at End of Current Quarter/Year (f)
1	(a) Legacy Liability	1,543,285	Various	118,961	47,597	1,471,921
2	(b) OPEB Cost	565,077	Various	167,694		397,383
3	(c) Annual Transmission Service Charge FIling	1,161,348	Various	2,311,077	1,149,729
4	(d) RFP Generation		Various	2,670,253	4,137,250	1,466,997
5	(e) Regulatory Tax Liability	135,310,587	Various	5,024,882	324,498	130,610,203
6	(f) Act 129 Energy Efficiency		Various
7	(g) Electric Vehicle - Registration Credits	90,909	421.01	12,685		78,224
8	(h) Pension - Rate Case Settlement	1,250,001	Various		1,250,001	2,500,002
9	(i) DSIC		Various
10	(j) State Tax Adjustment Surcharge (STAS)	2,147	Various	715		1,432
41	TOTAL	139,923,354		10,306,267	6,909,075	136,526,162

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

FOOTNOTE DATA

(a) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

These amounts represent environmental costs previously recovered from customers associated with previously owned generation sites. These amounts are amortized as the Company incurs environmental costs associated with these sites.

(b) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

These amounts represent costs recovered from customers associated with the Company's OPEB costs. Amounts are recovered over a period of three years.

(c) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

Represents amounts recoverable from customers related to the PUC Transmission Service Charge Surcharge. Amounts are recovered over a period of two years.

(d) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

Represents amounts recoverable by the Company's POLR program related to supplier auctions of small and medium commercial and industrial generation customers which the Company utilizes to provide energy to its POLR load.

(e) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

Represents a net regulatory liability on regulated utility property that includes the excess deferred income tax flow back to customers over the average remaining book life of the regulated property resulting from the corporate tax rate reduction; net of the FAS 109 property basis differences and corresponding FAS 109 tax gross up resulting from book depreciation versus accelerated tax deduction that are being recovered over the remaining depreciable life of the regulated utility property, plant and equipment.

(f) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

Represents refundable amounts from customers for the Company's Energy Efficiency Surcharge. Amounts are refunded over a period of two years.

(g) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

This balance represents the underspend related to the electric vehicle customer registration credits allowed annually via the Company's approved rate case settlements.

(h) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

These amounts represent the accumulation of pension costs for a future pension contribution.

(i) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

Represents amounts refundable to customers associated with the Company's Distribution System Improvement Charge. Amounts will be refunded over a period of two years.

(j) Concept: DescriptionAndPurposeOfOtherRegulatoryLiabilities

Represents amounts refundable to customers from the State Tax Adjustment Surcharge. This surcharge pertains to the Company's obligation of state taxes due and any interest and amounts are refunded over a period of one year.

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

Electric Operating Revenues
The following instructions generally apply to the annual version of these pages. Do not report quarterly data in columns (c), (e), (f), and (g). Unbilled revenues and MWH related to unbilled revenues need not be reported separately as required in the annual version of these pages. Report below operating revenues for each prescribed account, and manufactured gas revenues in total. Report number of customers, columns (f) and (g), on the basis of meters, in addition to the number of flat rate accounts; except that where separate meter readings are added for billing purposes, one customer should be counted for each group of meters added. The average number of customers means the average of twelve figures at the close of each month. If increases or decreases from previous period (columns (c),(e), and (g)), are not derived from previously reported figures, explain any inconsistencies in a footnote. Disclose amounts of $250,000 or greater in a footnote for accounts 451, 456, and 457.2. Commercial and industrial Sales, Account 442, may be classified according to the basis of classification (Small or Commercial, and Large or Industrial) regularly used by the respondent if such basis of classification is not generally greater than 1000 Kw of demand. (See Account 442 of the Uniform System of Accounts. Explain basis of classification in a footnote.) See page 108, Important Changes During Period, for important new territory added and important rate increase or decreases. For Lines 2,4,5,and 6, see Page 304 for amounts relating to unbilled revenue by accounts. Include unmetered sales. Provide details of such Sales in a footnote.
Line No.	Title of Account (a)	Operating Revenues Year to Date Quarterly/Annual (b)	Operating Revenues Previous year (no Quarterly) (c)	MEGAWATT HOURS SOLD Year to Date Quarterly/Annual (d)	MEGAWATT HOURS SOLD Amount Previous year (no Quarterly) (e)	AVG.NO. CUSTOMERS PER MONTH Current Year (no Quarterly) (f)	AVG.NO. CUSTOMERS PER MONTH Previous Year (no Quarterly) (g)
1	SalesOfElectricityHeadingAbstract Sales of Electricity
2	ResidentialSalesAbstract (440) Residential Sales	346,242,362	320,655,319	1,750,370,094
3	CommercialAndIndustrialSalesAbstract (442) Commercial and Industrial Sales
4	CommercialSalesAbstract Small (or Comm.) (See Instr. 4)	160,307,529	151,020,014	2,680,448,595
5	IndustrialSalesAbstract Large (or Ind.) (See Instr. 4)	22,570,022	25,471,021	1,376,708,462
6	PublicStreetAndHighwayLightingAbstract (444) Public Street and Highway Lighting	6,297,910	6,147,268	26,478,540
7	OtherSalesToPublicAuthoritiesAbstract (445) Other Sales to Public Authorities
8	SalesToRailroadsAndRailwaysAbstract (446) Sales to Railroads and Railways
9	InterdepartmentalSalesAbstract (448) Interdepartmental Sales
10	SalesToUltimateConsumersAbstract TOTAL Sales to Ultimate Consumers	535,417,823	503,293,622	5,834,005,691
11	SalesForResaleAbstract (447) Sales for Resale	729,061	705,176	13,846
12	SalesOfElectricityAbstract TOTAL Sales of Electricity	536,146,884	503,998,798	5,834,019,537
13	ProvisionForRateRefundsAbstract (Less) (449.1) Provision for Rate Refunds	17,365,869	15,065,518
14	RevenuesNetOfProvisionForRefundsAbstract TOTAL Revenues Before Prov. for Refunds	518,781,015	488,933,280	5,834,019,537
15	OtherOperatingRevenuesAbstract Other Operating Revenues
16	ForfeitedDiscounts (450) Forfeited Discounts	2,540,767	2,394,806
17	MiscellaneousServiceRevenues (451) Miscellaneous Service Revenues	4,974	620,741
18	SalesOfWaterAndWaterPower (453) Sales of Water and Water Power
19	RentFromElectricProperty (454) Rent from Electric Property	5,195,913	4,997,753
20	InterdepartmentalRents (455) Interdepartmental Rents
21	OtherElectricRevenue (456) Other Electric Revenues	628,627	530,708
22	RevenuesFromTransmissionOfElectricityOfOthers (456.1) Revenues from Transmission of Electricity of Others	45,046,191	43,831,596
23	RegionalTransmissionServiceRevenues (457.1) Regional Control Service Revenues
24	MiscellaneousRevenue (457.2) Miscellaneous Revenues
25	OtherMiscellaneousOperatingRevenues Other Miscellaneous Operating Revenues
26	OtherOperatingRevenues TOTAL Other Operating Revenues	53,406,524	52,375,604
27	ElectricOperatingRevenues TOTAL Electric Operating Revenues	572,187,539	541,308,884
Line12, column (b) includes $ of unbilled revenues.
Line12, column (d) includes MWH relating to unbilled revenues

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

REGIONAL TRANSMISSION SERVICE REVENUES (Account 457.1)
The respondent shall report below the revenue collected for each service (i.e., control area administration, market administration, etc.) performed pursuant to a Commission approved tariff. All amounts separately billed must be detailed below.
Line No.	Description of Service (a)	Balance at End of Quarter 1 (b)	Balance at End of Quarter 2 (c)	Balance at End of Quarter 3 (d)	Balance at End of Year (e)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46	TOTAL

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

ELECTRIC PRODUCTION, OTHER POWER SUPPLY EXPENSES, TRANSMISSION AND DISTRIBUTION EXPENSES

Report Electric production, other power supply expenses, transmission, regional market, and distribution expenses through the reporting period.
Line No.	Account (a)	Year to Date Quarter (b)
1	PowerProductionExpensesAbstract 1. POWER PRODUCTION AND OTHER SUPPLY EXPENSES
2	SteamPowerGenerationOperationsExpense Steam Power Generation - Operation (500-509)
3	SteamPowerGenerationMaintenanceExpense Steam Power Generation – Maintenance (510-515)
4	PowerProductionExpensesSteamPower Total Power Production Expenses - Steam Power
5	NuclearPowerGenerationOperationsExpense Nuclear Power Generation – Operation (517-525)
6	NuclearPowerGenerationMaintenanceExpense Nuclear Power Generation – Maintenance (528-532)
7	PowerProductionExpensesNuclearPower Total Power Production Expenses - Nuclear Power
8	HydraulicPowerGenerationOperationsExpense Hydraulic Power Generation – Operation (535-540.1)
9	HydraulicPowerGenerationMaintenanceExpense Hydraulic Power Generation – Maintenance (541-545.1)
10	PowerProductionExpensesHydraulicPower Total Power Production Expenses - Hydraulic Power
11	RentsOtherPowerGeneration Other Power Generation – Operation (546-550.1)
12	MaintenanceOfEnergyStorageEquipmentOtherPowerGeneration Other Power Generation – Maintenance (551-554.1)
13	MaintenanceOfMiscellaneousOtherPowerGenerationPlant Total Power Production Expenses - Other Power
14	OtherPowerSuplyExpensesAbstract Other Power Supply Expenses
15	PurchasedPower (555) Purchased Power	175,023,218
15.1	PowerPurchasedForStorageOperations (555.1) Power Purchased for Storage Operations
16	SystemControlAndLoadDispatchingElectric (556) System Control and Load Dispatching
17	OtherExpensesOtherPowerSupplyExpenses (557) Other Expenses	2,638,494
18	OtherPowerSupplyExpense Total Other Power Supply Expenses (line 15-17)	177,661,712
19	PowerProductionExpenses Total Power Production Expenses (Total of lines 4, 7, 10, 13 and 18)	177,661,712
20	TransmissionExpensesAbstract 2. TRANSMISSION EXPENSES
21	TransmissionExpensesOperationAbstract Transmission Operation Expenses
22	OperationSupervisionAndEngineeringElectricTransmissionExpenses (560) Operation Supervision and Engineering	690,979
24	LoadDispatchReliability (561.1) Load Dispatch-Reliability
25	LoadDispatchMonitorAndOperateTransmissionSystem (561.2) Load Dispatch-Monitor and Operate Transmission System	472,363
26	LoadDispatchTransmissionServiceAndScheduling (561.3) Load Dispatch-Transmission Service and Scheduling
27	SchedulingSystemControlAndDispatchServices (561.4) Scheduling, System Control and Dispatch Services
28	ReliabilityPlanningAndStandardsDevelopment (561.5) Reliability, Planning and Standards Development
29	TransmissionServiceStudies (561.6) Transmission Service Studies
30	GenerationInterconnectionStudies (561.7) Generation Interconnection Studies
31	ReliabilityPlanningAndStandardsDevelopmentServices (561.8) Reliability, Planning and Standards Development Services
32	StationExpensesTransmissionExpense (562) Station Expenses	167,105
32.1	OperationOfEnergyStorageEquipmentTransmissionExpense (562.1) Operation of Energy Storage Equipment
33	OverheadLineExpense (563) Overhead Lines Expenses	93
34	UndergroundLineExpensesTransmissionExpense (564) Underground Lines Expenses	36,360
35	TransmissionOfElectricityByOthers (565) Transmission of Electricity by Others
36	MiscellaneousTransmissionExpenses (566) Miscellaneous Transmission Expenses	5,090,535
37	RentsTransmissionElectricExpense (567) Rents
38	OperationSuppliesAndExpensesTransmissionExpense (567.1) Operation Supplies and Expenses (Non-Major)
39	TransmissionOperationExpense TOTAL Transmission Operation Expenses (Lines 22 - 38)	3,723,635
40	TransmissionMaintenanceAbstract Transmission Maintenance Expenses
41	MaintenanceSupervisionAndEngineeringElectricTransmissionExpenses (568) Maintenance Supervision and Engineering	462,545
42	MaintenanceOfStructuresTransmissionExpense (569) Maintenance of Structures
43	MaintenanceOfComputerHardwareTransmission (569.1) Maintenance of Computer Hardware
44	MaintenanceOfComputerSoftwareTransmission (569.2) Maintenance of Computer Software	55,230
45	MaintenanceOfCommunicationEquipmentElectricTransmission (569.3) Maintenance of Communication Equipment
46	MaintenanceOfMiscellaneousRegionalTransmissionPlant (569.4) Maintenance of Miscellaneous Regional Transmission Plant
47	MaintenanceOfStationEquipmentTransmission (570) Maintenance of Station Equipment	1,116,518
47.1	MaintenanceOfEnergyStorageEquipmentTransmission (570.1) Maintenance of Energy Storage Equipment
48	MaintenanceOfOverheadLinesTransmission (571) Maintenance of Overhead Lines	24,013
49	MaintenanceOfUndergroundLinesTransmission (572) Maintenance of Underground Lines
50	MaintenanceOfMiscellaneousTransmissionPlant (573) Maintenance of Miscellaneous Transmission Plant	198,338
51	MaintenanceOfTransmissionPlant (574) Maintenance of Transmission Plant
52	TransmissionMaintenanceExpenseElectric TOTAL Transmission Maintenance Expenses (Lines 41 – 51)	1,856,644
53	TransmissionExpenses Total Transmission Expenses (Lines 39 and 52)	1,866,991
54	RegionalMarketExpensesAbstract 3. REGIONAL MARKET EXPENSES
55	RegionalMarketExpensesOperationAbstract Regional Market Operation Expenses
56	OperationSupervision (575.1) Operation Supervision
57	DayAheadAndRealTimeMarketAdministration (575.2) Day-Ahead and Real-Time Market Facilitation
58	TransmissionRightsMarketAdministration (575.3) Transmission Rights Market Facilitation
59	CapacityMarketAdministration (575.4) Capacity Market Facilitation
60	AncillaryServicesMarketAdministration (575.5) Ancillary Services Market Facilitation
61	MarketMonitoringAndCompliance (575.6) Market Monitoring and Compliance
62	MarketFacilitationMonitoringAndComplianceServices (575.7) Market Facilitation, Monitoring and Compliance Services
63	RegionalMarketOperationExpense Regional Market Operation Expenses (Lines 55 - 62)
64	RegionalMarketExpensesMaintenanceAbstract Regional Market Maintenance Expenses
65	MaintenanceOfStructuresAndImprovementsRegionalMarketExpenses (576.1) Maintenance of Structures and Improvements
66	MaintenanceOfComputerHardware (576.2) Maintenance of Computer Hardware
67	MaintenanceOfComputerSoftware (576.3) Maintenance of Computer Software
68	MaintenanceOfCommunicationEquipmentRegionalMarketExpenses (576.4) Maintenance of Communication Equipment
69	MaintenanceOfMiscellaneousMarketOperationPlant (576.5) Maintenance of Miscellaneous Market Operation Plant
70	RegionalMarketMaintenanceExpense Regional Market Maintenance Expenses (Lines 65-69)
71	RegionalMarketExpenses TOTAL Regional Control and Market Operation Expenses (Lines 63,70)
72	DistributionExpensesAbstract 4. DISTRIBUTION EXPENSES
73	DistributionOperationExpensesElectric Distribution Operation Expenses (580-589)	12,245,970
74	DistributionMaintenanceExpenseElectric Distribution Maintenance Expenses (590-598)	12,936,211
75	DistributionExpenses Total Distribution Expenses (Lines 73 and 74)	25,182,181

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

Electric Customer Accts, Service, Sales, Admin and General Expenses
Report the amount of expenses for customer accounts, service, sales, and administrative and general expenses year to date.
Line No.	Account (a)	Year to Date Quarter (b)
-	CustomerAccountsExpensesOperationsAbstract Operation
1	CustomerAccountExpenses (901-905) Customer Accounts Expenses	4,578,883
2	CustomerServiceAndInformationExpenses (907-910) Customer Service and Information Expenses	3,851,016
3	SalesExpenses (911-917) Sales Expenses
4	AdministrativeAndGeneralExpensesAbstract 8. ADMINISTRATIVE AND GENERAL EXPENSES
5	AdministrativeAndGeneralExpensesOperationAbstract Operation
6	AdministrativeAndGeneralSalaries (920) Administrative and General Salaries	11,830,981
7	OfficeSuppliesAndExpenses (921) Office Supplies and Expenses	1,666,697
8	AdministrativeExpensesTransferredCredit (Less) (922) Administrative Expenses Transferred-Credit
9	OutsideServicesEmployed (923) Outside Services Employed	7,428,061
10	PropertyInsurance (924) Property Insurance	1,588,981
11	InjuriesAndDamages (925) Injuries and Damages	220,105
12	EmployeePensionsAndBenefits (926) Employee Pensions and Benefits	4,667,275
13	FranchiseRequirements (927) Franchise Requirements
14	RegulatoryCommissionExpenses (928) Regulatory Commission Expenses
15	DuplicateChargesCredit (929) (Less) Duplicate Charges-Cr.
16	GeneralAdvertisingExpenses (930.1) General Advertising Expenses	154,371
17	MiscellaneousGeneralExpenses (930.2) Miscellaneous General Expenses	3,040,099
18	RentsAdministrativeAndGeneralExpense (931) Rents	909,906
19	AdministrativeAndGeneralOperationExpense TOTAL Operation (Total of lines 6 thru 18)	31,506,476
20	AdministrativeAndGeneralExpensesMaintenanceAbstract Maintenance
21	MaintenanceOfGeneralPlant (935) Maintenance of General Plant	3,161,589
22	AdministrativeAndGeneralExpenses TOTAL Administrative and General Expenses (Total of lines 19 and 21)	34,668,065

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

TRANSMISSION OF ELECTRICITY FOR OTHERS (Account 456.1) (Including transactions referred to as "wheeling")

Report all transmission of electricity, i.e., wheeling, provided for other electric utilities, cooperatives, other public authorities, qualifying facilities, non-traditional utility suppliers and ultimate customers for the quarter.
Use a separate line of data for each distinct type of transmission service involving the entities listed in column (a), (b) and (c).
Report in column (a) the company or public authority that paid for the transmission service. Report in column (b) the company or public authority that the energy was received from and in column (c) the company or public authority that the energy was delivered to. Provide the full name of each company or public authority. Do not abbreviate or truncate name or use acronyms. Explain in a footnote any ownership interest in or affiliation the respondent has with the entities listed in columns (a), (b) or (c).
In column (d) enter a Statistical Classification code based on the original contractual terms and conditions of the service as follows: FNO - Firm Network Service for Others, FNS - Firm Network Transmission Service for Self, LFP - "Long-Term Firm Point to Point Transmission Service, OLF - Other Long-Term Firm Transmission Service, SFP - Short-Term Firm Point to Point Transmission Reservation, NF - non-firm transmission service, OS - Other Transmission Service and AD - Out-of-Period Adjustments. Use this code for any accounting adjustments or "true-ups" for service provided in prior reporting periods. Provide an explanation in a footnote for each adjustment. See General Instruction for definitions of codes.
In column (e), identify the FERC Rate Schedule or Tariff Number, On separate lines, list all FERC rate schedules or contract designations under which service, as identified in column (d), is provided.
Report receipt and delivery locations for all single contract path, "point to point" transmission service. In column (f), report the designation for the substation, or other appropriate identification for where energy was received as specified in the contract. In column (g) report the designation for the substation, or other appropriate identification for where energy was delivered as specified in the contract.
Report in column (h) the number of megawatts of billing demand that is specified in the firm transmission service contract. Demand reported in column (h) must be in megawatts. Footnote any demand not stated on a megawatts basis and explain.
Report in column (i) and (j) the total megawatthours received and delivered.
In column (k) through (n), report the revenue amounts as shown on bills or vouchers. In column (k), provide revenues from demand charges related to the billing demand reported in column (h). In column (I), provide revenues from energy charges related to the amount of energy transferred. In column (m), provide the total revenues from all other charges on bills or vouchers rendered, including out of period adjustments. Explain in a footnote all components of the amount shown in column (m). Report in column (n) the total charge shown on bills rendered to the entity Listed in column (a). If no monetary settlement was made, enter zero (0) in column (n). Provide a footnote explaining the nature of the non-monetary settlement, including the amount and type of energy or service rendered.
The total amounts in columns (i) and (j) must be reported as Transmission Received and Transmission Delivered for annual report purposes only on Page 401, Lines 16 and 17, respectively.
Footnote entries and provide explanations following all required data.

TRANSFER OF ENERGY

REVENUE FROM TRANSMISSION OF ELECTRICITY FOR OTHERS

Line No.

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

(i)

(j)

(k)

(l)

(m)

(n)

1

Applied Energy Services-Beaver Valley Partners

LFP

20

AES-ARCO

Mitchell-Elrama Int

2

PJM Interconnection, LLC

Various

NF

DLC Trans Network

Various

1

3

PJM Interconnection, LLC

Various

SFP

DLC Trans Network

Various

148,994

4

PJM Interconnection, LLC

Duquesne Light Company

Allegheny Power System, Inc.

FNO

DLC Trans Network

Piney Fork SS

47,266

120,000

5

PJM Interconnection, LLC

Various

FNO

DLC Trans Network

Various

36,782,517

35

TOTAL

47,266

37,051,512

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

TRANSMISSION OF ELECTRICITY BY ISO/RTOs
Report in Column (a) the Transmission Owner receiving revenue for the transmission of electricity by the ISO/RTO. Use a separate line of data for each distinct type of transmission service involving the entities listed in Column (a). In Column (b) enter a Statistical Classification code based on the original contractual terms and conditions of the service as follows: FNO – Firm Network Service for Others, FNS – Firm Network Transmission Service for Self, LFP – Long-Term Firm Point-to-Point Transmission Service, OLF – Other Long-Term Firm Transmission Service, SFP – Short-Term Firm Point-to-Point Transmission Reservation, NF – Non-Firm Transmission Service, OS – Other Transmission Service and AD- Out-of-Period Adjustments. Use this code for any accounting adjustments or “true-ups” for service provided in prior reporting periods. Provide an explanation in a footnote for each adjustment. See General Instruction for definitions of codes. In column (c) identify the FERC Rate Schedule or tariff Number, on separate lines, list all FERC rate schedules or contract designations under which service, as identified in column (b) was provided. In column (d) report the revenue amounts as shown on bills or vouchers. Report in column (e) the total revenues distributed to the entity listed in column (a).
Line No.	Payment Received by (Transmission Owner Name) (a)	Statistical Classification (b)	FERC Rate Schedule or Tariff Number (c)	Total Revenue by Rate Schedule or Tariff (d)	Total Revenue (e)
1	Duquesne Light Company	FNO	H-17	36,782,517	36,782,517
2	Duquesne Light Company	FNO	H-17	120,000	120,000
3	Duquesne Light Company	SFP	7	872,267	872,267
4	Duquesne Light Company	NF	8
5	Duquesne Light Company	AD	8	1	1
6	Duquesne Light Company	AD	7	723,273	723,273
7	Duquesne Light Company	OS	12	5,816,973	5,816,973
40	TOTAL			42,868,485	42,868,485

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

TRANSMISSION OF ELECTRICITY BY OTHERS (Account 565)
Report all transmission, i.e. wheeling or electricity provided by other electric utilities, cooperatives, municipalities, other public authorities, qualifying facilities, and others for the quarter. In column (a) report each company or public authority that provided transmission service. Provide the full name of the company, abbreviate if necessary, but do not truncate name or use acronyms. Explain in a footnote any ownership interest in or affiliation with the transmission service provider. Use additional columns as necessary to report all companies or public authorities that provided transmission service for the quarter reported. In column (b) enter a Statistical Classification code based on the original contractual terms and conditions of the service as follows: FNS - Firm Network Transmission Service for Self, LFP - Long-Term Firm Point-to-Point Transmission Reservations. OLF - Other Long-Term Firm Transmission Service, SFP - Short-Term Firm Point-to- Point Transmission Reservations, NF - Non-Firm Transmission Service, and OS - Other Transmission Service. See General Instructions for definitions of statistical classifications. Report in column (c) and (d) the total megawatt hours received and delivered by the provider of the transmission service. Report in column (e), (f) and (g) expenses as shown on bills or vouchers rendered to the respondent. In column (e) report the demand charges and in column (f) energy charges related to the amount of energy transferred. On column (g) report the total of all other charges on bills or vouchers rendered to the respondent, including any out of period adjustments. Explain in a footnote all components of the amount shown in column (g). Report in column (h) the total charge shown on bills rendered to the respondent. If no monetary settlement was made, enter zero in column (h). Provide a footnote explaining the nature of the non-monetary settlement, including the amount and type of energy or service rendered. Enter ""TOTAL"" in column (a) as the last line. Footnote entries and provide explanations following all required data.
			TRANSFER OF ENERGY		EXPENSES FOR TRANSMISSION OF ELECTRICITY BY OTHERS
Line No.	NameOfCompanyOrPublicAuthorityTransmissionOfElectricityByOthers Name of Company or Public Authority (Footnote Affiliations) (a)	StatisticalClassificationCode Statistical Classification (b)	TransmissionOfElectricityByOthersEnergyReceived MegaWatt Hours Received (c)	TransmissionOfElectricityByOthersEnergyDelivered MegaWatt Hours Delivered (d)	DemandChargesTransmissionOfElectricityByOthers Demand Charges ($) (e)	EnergyChargesTransmissionOfElectricityByOthers Energy Charges ($) (f)	OtherChargesTransmissionOfElectricityByOthers Other Charges ($) (g)	ChargesForTransmissionOfElectricityByOthers Total Cost of Transmission ($) (h)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
	TOTAL		0	0	0	0	0	0

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

Deprec, Depl and Amort of Elec Plant (403,403.1,404,and 405) (except Amortization of Acquisition Adjustments)
Report the year to date amounts of depreciation expense, asset retirement cost depreciation, depletion and amortization, except amortization of acquisition adjustments for the accounts indicated and classified according to the plant functional groups described.
Line No.	FunctionalClassificationAxis Functional Classification (a)	DepreciationExpenseExcludingAmortizationOfAcquisitionAdjustments Depreciation Expense (Account 403) (b)	DepreciationExpenseForAssetRetirementCostsExcludingAmortizationgOfAcquisitionAdjustments Depreciation Expense for Asset Retirement Costs (Account 403.1) (c)	AmortizationOfLimitedTermPlantOrProperty Amortization of Limited Term Electric Plant (Account 404) (d)	AmortizationOfOtherElectricPlant Amortization of Other Electric Plant (Acc 405) (e)	DepreciationAndAmortization Total (f)
1	Intangible Plant			28,362,036		28,362,036
2	Steam Production Plant
3	Nuclear Production Plant
4	Hydraulic Production Plant-Conventional
5	Hydraulic Production Plant-Pumped Storage
6	Other Production Plant
7	Transmission Plant	13,939,602				13,939,602
8	Distribution Plant	51,654,803				51,654,803
9	General Plant	10,776,373		531,431		11,307,804
10	Common Plant-Electric
11	TOTAL	76,370,778		28,893,467		105,264,245

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

AMOUNTS INCLUDED IN ISO/RTO SETTLEMENT STATEMENTS
The respondent shall report below the details called for concerning amounts it recorded in Account 555, Purchase Power, and Account 447, Sales for Resale, for items shown on ISO/RTO Settlement Statements. Transactions should be separately netted for each ISO/RTO administered energy market for purposes of determining whether an entity is a net seller or purchaser in a given hour. Net megawatt hours are to be used as the basis for determining whether a net purchase or sale has occurred. In each monthly reporting period, the hourly sale and purchase net amounts are to be aggregated and separately reported in Account 447, Sales for Resale, or Account 555, Purchased Power, respectively.
Line No.	Description of Item(s) (a)	Balance at End of Quarter 1 (b)	Balance at End of Quarter 2 (c)	Balance at End of Quarter 3 (d)	Balance at End of Year (e)
1	Energy
2	Net Purchases (Account 555)	142,910	90,438
2.1	Net Purchases (Account 555.1)
3	Net Sales (Account 447)
4	Transmission Rights	97,808	97,808
5	Ancillary Services	40,318	40,569
6	Other Items (list separately)
7	Transmission Congestion	2,090	2,075
8	Transmission Losses	205	205
46	TOTAL	2,898	49,810

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

Monthly Peak Loads and Energy Output
Report the monthly peak load and energy output. If the respondent has two or more power which are not physically integrated, furnish the required information for each non- integrated system. Report in column (b) by month the system’s output in Megawatt hours for each month. Report in column (c) by month the non-requirements sales for resale. Include in the monthly amounts any energy losses associated with the sales. Report in column (d) by month the system’s monthly maximum megawatt load (60 minute integration) associated with the system. Report in column (e) and (f) the specified information for each monthly peak load reported in column (d).
Line No.	MonthAxis Month (a)	Total Monthly Energy (MWH) (b)	Monthly Non-Requirements Sales for Resale & Associated Losses (c)	MonthlyPeakLoad Monthly Peak Megawatts (See Instr. 4) (d)	DayOfMonthlyPeak Monthly Peak Day of Month (e)	HourOfMonthlyPeak Monthly Peak Hour (f)
	NAME OF SYSTEM: 0
1	January	1,116,103	3,182	1,787	31	19
2	February	980,923	2,310	1,920	3	19
3	March	1,062,519	3,064	1,736	14	17
4	Total for Quarter 1	3,159,545	8,556
5	April	942,919	2,494	1,636	13	17
6	May	1,008,547	1,695	1,989	31	18
7	June	1,082,752	1,101	2,185	2	17
8	Total for Quarter 2	3,034,218	5,290
9	July
10	August
11	September
12	Total for Quarter 3	0
41	Total

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

MONTHLY TRANSMISSION SYSTEM PEAK LOAD
Report the monthly peak load on the respondent's transmission system. If the respondent has two or more power systems which are not physically integrated, furnish the required information for each non-integrated system. Report on Column (b) by month the transmission system's peak load. Report on Columns (c ) and (d) the specified information for each monthly transmission - system peak load reported on Column (b). Report on Columns (e) through (j) by month the system' monthly maximum megawatt load by statistical classifications. See General Instruction for the definition of each statistical classification.
Line No.	Month (a)	Monthly Peak MW - Total (b)	Day of Monthly Peak (c)	Hour of Monthly Peak (d)	Firm Network Service for Self (e)	Firm Network Service for Others (f)	Long-Term Firm Point-to-point Reservations (g)	Other Long-Term Firm Service (h)	Short-Term Firm Point-to-point Reservation (i)	Other Service (j)
	NAME OF SYSTEM: 0
1	January	1,802	31	19	710	1,092
2	February	1,937	3	19	789	1,147
3	March	1,749	14	17	640	1,110
4	Total for Quarter 1				2,139	3,349
5	April	1,651	13	17	547	1,104
6	May	2,012	31	18	822	1,189
7	June	2,211	2	17	940	1,271
8	Total for Quarter 2				2,310	3,564
9	July
10	August
11	September
12	Total for Quarter 3				0	0
13	October
14	November
15	December
16	Total for Quarter 4				0	0
17	Total				4,449	6,913

Name of Respondent:

Duquesne Light Company

This report is:

(1)

☑ An Original

(2)

☐ A Resubmission

Date of Report:

08/28/2023

Year/Period of Report

End of:

2023

/

Q2

Monthly ISO/RTO Transmission System Peak Load
Report the monthly peak load on the respondent's transmission system. If the Respondent has two or more power systems which are not physically integrated, furnish the required information for each non-integrated system. Report on Column (b) by month the transmission system's peak load. Report on Column (c) and (d) the specified information for each monthly transmission - system peak load reported on Column (b). Report on Columns (e) through (i) by month the system’s transmission usage by classification. Amounts reported as Through and Out Service in Column (g) are to be excluded from those amounts reported in Columns (e) and (f). Amounts reported in Column (j) for Total Usage is the sum of Columns (h) and (i).
Line No.	Month (a)	Monthly Peak MW - Total (b)	Day of Monthly Peak (c)	Hour of Monthly Peak (d)	Import into ISO/RTO (e)	Exports from ISO/RTO (f)	Through and Out Service (g)	Network Service Usage (h)	Point-to-Point Service Usage (i)	Total Usage (j)
	NAME OF SYSTEM: 0
1	January	1,802	31	19				1,802		1,802
2	February	1,937	3	19				1,937		1,937
3	March	1,749	14	17				1,749		1,749
4	Total for Quarter 1							5,488		5,488
5	April	1,651	13	17				1,651		1,651
6	May	2,012	31	18				2,012		2,012
7	June	2,211	2	17				2,211		2,211
8	Total for Quarter 2							5,874		5,874
9	July							0		0
10	August							0		0
11	September							0		0
12	Total for Quarter 3							0		0
13	October							0		0
14	November							0		0
15	December							0		0
16	Total for Quarter 4							0		0
17	Total Year to Date/Year							11,362		11,362

FERC FINANCIAL REPORT FERC FORM No. 1: Annual Report of Major Electric Utilities, Licensees and Others and Supplemental Form 3-Q: Quarterly Financial Report

INSTRUCTIONS FOR FILING FERC FORM NOS. 1 and 3-Q

GENERAL INFORMATION

Purpose

Who Must Submit

What and Where to Submit

When to Submit

Where to Send Comments on Public Reporting Burden.

GENERAL INSTRUCTIONS

EXCERPTS FROM THE LAW

GENERAL PENALTIES

FERC FINANCIAL REPORT
FERC FORM No. 1: Annual Report of
Major Electric Utilities, Licensees
and Others and Supplemental
Form 3-Q: Quarterly Financial Report