Regulated Distribution — 2022 Compared with 2021 Regulated Distribution's net income decreased $331 million in 2022, as compared to 2021, primarily resulting from higher other operating expenses, customer rate credits associated with the PUCO-approved Ohio Stipulation, change in pension and OPEB mark-to-market adjustments, and higher pension and OPEB expenses, partially offset by higher weather-related usage, rider revenues from capital investment programs, as well as the absence of a $27 million refund for previously collected decoupling revenues in Ohio, with interest. Revenues — The $1,090 million increase in total revenues resulted from the following sources: For the Years Ended December 31, Revenues by Type of Service 2022 2021 Increase (Decrease) (In millions) Distribution services (1) $ 5,261 $ 5,406 $ (145) Generation sales: Retail 4,841 3,730 1,111 Wholesale 494 362 132 Total generation sales 5,335 4,092 1,243 Other 205 213 (8) Total Revenues $ 10,801 $ 9,711 $ 1,090 (1) Includes $(27) million of ARP revenues for the year ended December 31, 2021, which is related to the Ohio Companies refund to customers that was previously collected under decoupling mechanisms, with interest. Distribution services revenues decreased $145 million in 2022, as compared to 2021, primarily resulting from customer rate credits associated with the PUCO-approved Ohio Stipulation, as well as adjusted customer rates of the Pennsylvania Companies associated with the Tax Act and lower transmission recovery, which has no material impact to current period earnings, partially offset by higher weather-related usage, the absence of a $27 million refund for previously collected decoupling revenues in Ohio with interest, and higher rates associated with riders in Ohio, Pennsylvania and New Jersey for the recovery of certain capital investment programs. Distribution services by customer class are summarized in the following table: For the Years Ended December 31, (In thousands) Actual Weather-Adjusted Electric Distribution MWH Deliveries 2022 2021 Increase 2022 2021 Increase (Decrease) Residential 55,995 55,624 0.7 % 55,081 55,678 (1.1)% Commercial(1) 36,317 35,599 2.0 % 36,024 35,744 0.8 % Industrial 55,169 54,027 2.1 % 55,169 54,027 2.1 % Total Electric Distribution MWH Deliveries 147,481 145,250 1.5 % 146,274 145,449 0.6 % (1) Includes street lighting. Residential and commercial distribution deliveries were impacted by higher weather-related customer usage. Cooling degree days were 2.9% below 2021 and 11.5% above normal. Heating degree days were 8.4% above 2021 and 1.0% below normal. Increases in industrial deliveries were primarily from the primary and fabricated metal and transportation equipment manufacturing sectors. Compared to pre-pandemic levels in 2019, weather-adjusted residential distribution deliveries for the year ended December 31, 2022 increased 2.7%, while commercial and industrial deliveries decreased 4.5% and 0.9%, respectively. 38
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