# EDGAR Filing Document

**Accession Number:** 0002046060
**File Stem:** 0002046060-26-000004
**Filing Date:** 2026-3
**Character Count:** 59489
**Document Hash:** c515abe0884b28d03b44009d26c8a560
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002046060-26-000004.hdr.sgml**: 20260330

**ACCESSION NUMBER**: 0002046060-26-000004

**CONFORMED SUBMISSION TYPE**: 10-K

**PUBLIC DOCUMENT COUNT**: 26

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260330

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RG&E Storm Funding LLC
- **CENTRAL INDEX KEY:** 0002046060

**ORGANIZATION NAME:**
- **EIN:** 331923448
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-283455-01
- **FILM NUMBER:** 26809367

**BUSINESS ADDRESS:**
- **STREET 1:** 162 CANCO RD
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04103
- **BUSINESS PHONE:** 207-629-1190

**MAIL ADDRESS:**
- **STREET 1:** 162 CANCO RD
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04103

?xml version='1.0' encoding='ASCII'? rge-20251231

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 10-K** 

☒ **ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the fiscal year ended December 31, 2025** 

**Or**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; to&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;** 

---

| | | |
|:---|:---|:---|
| **Commission File Number** | **Registrant; State of Incorporation; Address; and Telephone Number** | **I.R.S. Employer Identification No** |
| **333-283455-01** | **RG&E STORM FUNDING, LLC** | **33-1923448** |
| | **(Issuing Entity)** | |

---

**(A Delaware limited liability company)**

**162 Canco Rd., Portland, Maine, 04103**

**(207) 629-1190**

**Securities registered pursuant to Section 12(b) of the Act: None**

**Securities registered pursuant to Section 12(g) of the Act: None**

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. &nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No ☒

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. &nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. &nbsp;&nbsp;&nbsp;&nbsp;Yes 🗷&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). &nbsp;&nbsp;&nbsp;&nbsp;Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large Accelerated Filer | ☐ | Accelerated Filer | ☐ |
| Non-accelerated Filer | ☒ | Smaller Reporting Company | ☐ |
| Emerging Growth Company | ☐ | | |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. &nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No ☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during the relevant period pursuant to §240.10D-1(b). ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). &nbsp;&nbsp;&nbsp;&nbsp;Yes ☐&nbsp;&nbsp;&nbsp;&nbsp;No ☒

The registrant does not have any voting or non-voting common equity held by non-affiliates.

**DOCUMENTS INCORPORATED BY REFERENCE**

None.

Auditor Firm ID: 185 Auditor Name: KPMG, LLP Auditor Location: New York, New York

------

**PART I**

**Item 1. Business**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 1A. Risk Factors**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 1B. Unresolved Staff Comments**

None.

**Item 1C. Infrastructure Protection and Cyber Security Measures**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 2. Properties.**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 3. Legal Proceedings.**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 4. Mine Safety Disclosures.**

Not applicable.

**PART II**

**Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 6. [Reserved]**

**Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations.**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 7A. Quantitative and Qualitative Disclosures About Market Risk.**

Omitted pursuant to General Instruction J of Form 10-K.

------

**Item 8. Financial Statements and Supplementary Data**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 9A. Controls and Procedures.**

Omitted pursuant to General Instruction J of Form 10-K.

**Item 9B. Other Information.**

None.

**Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections.**

Not applicable.

------

**PART III** 

**Item 10. Directors, Executive Officers and Corporate Governance.**

Following are the managers and executive officers of RG&E Storm Funding, LLC (the "Issuing Entity") as of March 27, 2026:

---

| | | | |
|:---|:---|:---|:---|
| **Name** | **Age** | **Office** | **Initial Effective Year** |
| Michael Panichi | 39 | RG&E Storm Funding, LLC - Manager, President and Treasurer | 2025 |
|  |  | Rochester Gas and Electric Corporation - Treasurer |  |
|  |  | Avangrid, Inc. - Vice President and Treasurer |  |
| Andrea VanLuling | 43 | RG&E Storm Funding, LLC - Manager and Controller | 2025 |
|  |  | Avangrid Networks, Inc. - Vice President and Controller |  |
| Michelle A. Dreyer | 53 | RG&E Storm Funding, LLC - Independent Manager | 2025 |

---

The Issuing Entity is a wholly-owned, bankruptcy remote subsidiary of Rochester Gas and Electric Corporation, which in turn is a wholly-owned subsidiary of Avangrid, Inc.

**Code of Conduct**

Avangrid, Inc., the indirect parent company of the Issuing Entity, has a code of business conduct and ethics that applies to all employees and directors of the companies controlled by Avangrid, Inc. including the principal executive officer, principal financial officer, principal accounting officer, directors, and other senior financial officers of the Issuing Entity. The code is intended to provide guidance to employees, management, and the board to assure compliance with law and promote ethical behavior. A copy of the code is maintained on Avangrid, Inc.'s website at www.avangrid.com. Any amendment to the code, or any waivers of its requirements, will be disclosed if required on such website.

**Item 11. Executive Compensation.**

Other than the annual independent manager fee of $3,650 paid to CSC, Inc., the Issuing Entity does not pay any compensation to its managers or executive officers.

**Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.**

None.

**Item 13. Certain Relationships and Related Transactions, and Director Independence.**

None.

**Item 14. Principal Accountant Fees and Services.**

Omitted pursuant to General Instruction J of Form 10-K.

------

**Part IV**

**Item 15. Exhibits and Financial Statement Schedules.**

a) The following documents are made a part of this Annual Report on Form 10-K:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. Omitted pursuant to General Instruction J of Form 10-K.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Omitted pursuant to General Instruction J of Form 10-K.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Exhibits—The exhibits listed below are being filed herewith or have been previously filed on behalf of RG&E Storm Funding, LLC and are incorporated by reference to the filings set forth below pursuant to Exchange Act Rule 12b-32 and Regulation S-K section 10, paragraph (d).

---

| | |
|:---|:---|
| **Exhibit Number** | **Exhibit Description** |
| 3.1 | <u>[Certificate of Formation of RG&E Storm Funding, LLC (filed with the Registration Statement on Form SF-1 of Rochester Gas and Electric Corporation (File Nos. 333-283455 and 333-283455-01) on November 26, 2024).](https://www.sec.gov/Archives/edgar/data/84557/000119312524265577/d906179dex31.htm)</u> |
| 3.2 | <u>[Limited Liability Company Agreement of RG&E Storm Funding, LLC dated as of February 5, 2025 (incorporated by reference to Exhibit 3.2 to the Current Report on Form 8-K filed February 10, 2025).](https://www.sec.gov/Archives/edgar/data/84557/000119312525023621/d931056dex31.htm)</u> |
| 4.1 | <u>[Indenture, dated as of February 14, 2025, among RG&E Storm Funding, LLC, U.S. Bank Trust Company, National Association, as Indenture Trustee, and U.S. Bank National Association, as Securities Intermediary (incorporated by reference to Exhibit 4.1 to the Current Report on Form 8-K filed February 14, 2025).](https://www.sec.gov/Archives/edgar/data/84557/000119312525023621/d931056dex41.htm)</u> |
| 4.2 | <u>[Series Supplement, dated as of February 14, 2025, among RG&E Storm Funding, LLC. U.S. Bank Trust Company, National Association, as Indenture Trustee, and U.S. Bank National Association, as Securities Intermediary (incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K filed February 14, 2025).](https://www.sec.gov/Archives/edgar/data/84557/000119312525027353/d898691dex42.htm)</u> |
| 10.1 | <u>[Recovery Property Servicing Agreement, dated as of February 14, 2025, between RG&E Storm Funding, LLC and Rochester Gas and Electric Corporation, as Servicer (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K filed February 14, 2025).](https://www.sec.gov/Archives/edgar/data/84557/000119312525027353/d898691dex101.htm)</u> |
| 10.2 | <u>[Recovery Property Purchase and Sale Agreement, dated as of February 14, 2025, between RG&E Storm Funding, LLC and Rochester Gas and Electric Corporation, as Seller (incorporated by reference to Exhibit 10.2 to the Current Report on Form 8-K filed February 14, 2025).](https://www.sec.gov/Archives/edgar/data/84557/000119312525027353/d898691dex102.htm)</u> |
| 10.3 | <u>[Administrative Agreement, dated as of February 14, 2025, between RG&E Storm Funding, LLC and Rochester Gas and Electric Corporation, as Administrator (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed February 14, 2025).](https://www.sec.gov/Archives/edgar/data/84557/000119312525027353/d898691dex103.htm)</u> |
| 31.1 | <u>[Certification Pursuant to Rule 13a-14(d) / 15d-14(d).\*](rge_sf-ex311x2025.htm)</u> |
| 33.1 | <u>[Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Issuers for Rochester Gas and Electric Corporation, as Servicer.\*](rge_sf-ex331x2025.htm)</u> |
| 33.2 | <u>[Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Issuers for U.S. Bank Trust Company, National Association, as Indenture Trustee.\*](rge_sf-ex332x2025.htm)</u> |

---

------

---

| | |
|:---|:---|
| **Exhibit Number** | **Exhibit Description** |
| 34.1 | <u>[Attestation Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Securities of KPMG, LLP on behalf of Rochester Gas and Electric Corporation, as Servicer.\*](rge_sf-ex341x2025.htm)</u> |
| 34.2 | <u>[Attestation Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Securities of Ernst & Young LLP on behalf of U.S. Bank Trust Company National Association, as Indenture Trustee.\*](rge_sf-ex342x2025.htm)</u> |
| 35.1 | <u>[Servicer Compliance Statement.\*](rge_sf-ex351x2025.htm)</u> |
| 104 | <u>Cover Page Interactive Data File (formatted in Inline XBRL and contained in Exhibit 101)</u> |

---

\* Filed herewith.

**Item 16. Form 10-K Summary.**

None.

**Item 1112(b). Significant Obligors of Pool Assets.**

None.

**Item 1114(b)(2). Credit Enhancement and Other Support, Except for certain Derivative Instruments.**

None.

**Item 1115(b). Certain Derivative Instruments.**

None.

**Item 1117. Legal Proceedings.**

U.S. Bank National Association has provided the following information to the depositor:

U.S. Bank National Association ("U.S. Bank") and other large financial institutions have been sued in their capacity as trustee or successor trustee for certain residential mortgage backed securities ("RMBS") trusts. The complaints, primarily filed by investors or investor groups against U.S. Bank and similar institutions, allege the trustees caused losses to investors as a result of alleged failures by the sponsors, mortgage loan sellers and servicers to comply with the governing agreements for these RMBS trusts. Plaintiffs generally assert causes of action based upon the trustees' purported failures to enforce repurchase obligations of mortgage loan sellers for alleged breaches of representations and warranties, notify securityholders of purported events of default allegedly caused by breaches of servicing standards by mortgage loan servicers and abide by a heightened standard of care following alleged events of default.

U.S. Bank denies liability and believes that it has performed its obligations under the RMBS trusts in good faith, that its actions were not the cause of losses to investors, that it has meritorious defenses, and it has contested and intends to continue contesting the plaintiffs' claims vigorously. However, U.S. Bank cannot assure you as to the outcome of any of the litigation, or the possible impact of these litigations on the trustee or the RMBS trusts.

On March 9, 2018, a law firm purporting to represent fifteen Delaware statutory trusts (the "DSTs") that issued securities backed by student loans (the "Student Loans") filed a lawsuit in the Delaware Court of Chancery against U.S. Bank National Association ("U.S. Bank") in its capacities as indenture trustee and successor special servicer, and three other institutions in their respective transaction capacities, with respect to the DSTs and the Student Loans. This lawsuit is captioned *The National Collegiate Student Loan Master Trust I, et al. v. U.S. Bank National Association, et al.*, C.A. No. 2018-0167-JRS (Del. Ch.) (the "NCMSLT Action"). The complaint, as amended on June 15, 2018, alleged that the DSTs have been harmed as a result of purported misconduct or omissions by the defendants concerning administration of the trusts and special servicing of the Student Loans. Since the filing of the NCMSLT Action, certain Student Loan borrowers have made assertions against U.S. Bank concerning special servicing that appear to be based on certain allegations made on behalf of the DSTs in the NCMSLT Action.

U.S. Bank has filed a motion seeking dismissal of the operative complaint in its entirety with prejudice pursuant to Chancery Court Rules 12(b)(1) and 12(b)(6) or, in the alternative, a stay of the case while other prior filed disputes involving the DSTs and the Student Loans are litigated. On November 7, 2018, the Court ruled that the case should be stayed in its entirety pending resolution of the first-filed cases. On January 21, 2020, the Court entered an order consolidating for pretrial purposes the

------

NCMSLT Action and three other lawsuits pending in the Delaware Court of Chancery concerning the DSTs and the Student Loans, which remains pending.

U.S. Bank denies liability in the NCMSLT Action and believes it has performed its obligations as indenture trustee and special servicer in good faith and in compliance in all material respects with the terms of the agreements governing the DSTs and that it has meritorious defenses. It has contested and intends to continue contesting the plaintiffs' claims vigorously.

**Item 1119. Affiliations and certain Relationships and Related Transactions.**

The Issuing Entity is a wholly-owned subsidiary of Rochester Gas and Electric Corporation, which is the depositor, sponsor, and servicer.

**Item 1122. Compliance with Applicable Service Criteria.**

The Report on Assessment of Compliance with Servicing Criteria for Asset-Backed Issuers and the related attestation report for Rochester Gas and Electric Corporation included as Exhibits 33.1 and 34.1, respectively, to this Form 10-K, identified no material instances of noncompliance by Rochester Gas and Electric Corporation with the servicing criteria set forth in ITEM 1122 of Regulation AB.

The Report on Assessment of Compliance With Servicing Criteria for Asset-Backed Issuers and the related attestation report for U.S. Bank National Association included as Exhibits 33.2 and 34.2, respectively, to this form 10-K, identified no material instances of noncompliance by U.S. Bank National Association with the servicing criteria set forth in ITEM 1122 of Regulation AB.

See Exhibits 33.1, 33.2, 34.1 and 34.2 to this Form 10-K.

**Item 1123. Servicer Compliance Statement.**

See Exhibit 35.1 to this Form 10-K.

------

**SIGNATURES**

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | | **RG&E Storm Funding, LLC, as issuing entity** |
| | | | (Registrant) |
| Date: | March 27, 2026 | By: | **Rochester Gas and Electric Corporation, as Servicer** |
|  |  |  | /s/ Michael G. Panichi |
|  |  |  | Michael G. Panichi |
|  |  |  | Treasurer |

---

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION**

I, Michael G. Panichi, certify that:

1. I have reviewed this report on Form 10-K of RG&E Storm Funding, LLC (the "Exchange Act periodic report");

2. Based on my knowledge, the Exchange Act periodic report, taken as a whole, does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. I am responsible for reviewing the activities performed by Rochester Gas and Electric Corporation, as servicer, and based on my knowledge and the compliance review conducted in preparing the servicer compliance statement required in this report under Item 1123 of Regulation AB, the servicer has fulfilled its obligations under the Recovery Property Servicing Agreement, dated February 14, 2025, by and between Rochester Gas and Electric Corporation and RG&E Storm Funding, LLC, in all material respects; and

4. All of the reports on assessment of compliance with servicing criteria for asset-backed securities and their related attestation reports on assessment of compliance with servicing criteria for asset-backed securities required to be included in this report in accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18 and 15d-18 have been included as an exhibit to this report, except as otherwise disclosed in this report. Any material instances of noncompliance described in such reports have been disclosed in this report on Form 10-K.

In giving the certifications above, I have reasonably relied on information provided to me by the following unaffiliated party: U.S. Bank National Association, as Indenture Trustee.

---

| | | | |
|:---|:---|:---|:---|
| | | **Rochester Gas and Electric Corporation, as Servicer** | **Rochester Gas and Electric Corporation, as Servicer** |
| Date: | March 27, 2026 | By: | /s/ Michael G. Panichi |
|  |  |  | Michael G. Panichi |
|  |  |  | Treasurer |

---

## Exhibit 33.1

**Exhibit 33.1**

**ASSESSMENT OF COMPLIANCE WITH APPLICABLE SERVICING CRITERIA**

The management of Rochester Gas and Electric Corporation (the "Company") is responsible for assessing the Company's compliance with the servicing criteria set forth in Item 1122(d) of Regulation AB promulgated by the Securities and Exchange Commission. The Company's management has determined that the servicing criteria are applicable in regard to the servicing platform as of and for the period as follows:

<u>Platform</u>: Publicly-issued recovery bonds issued by RG&E Storm Funding, LLC and serviced by the Company (the "Platform").

<u>Period</u>: February 14, 2025 through December 31, 2025 (the "Period").

<u>Applicable Servicing Criteria</u>: All servicing criteria set forth in Item 1122(d), except as set forth in the column titled "Inapplicable Servicing Criteria" in Appendix 1 attached hereto.

With respect to the Platform as of and for the Period, the Company provides the following assessment of compliance in respect of the Applicable Servicing Criteria:

1. The Company's management is responsible for assessing the Company's compliance with the Applicable Servicing Criteria;

2. The Company's management has assessed compliance with the Applicable Servicing Criteria, as described above, as of and for the Period. In making this assessment, management used the criteria set forth by the Securities and Exchange Commission in paragraph (d) of Item 1122 of Regulation AB;

3. Based on such assessment, as of and for the Period, the Company has complied, in all material respects, with the Applicable Servicing Criteria; and

4. Capitalized terms used but not defined herein have their respective meanings as set forth in the transaction agreements for the Platform.

KPMG LLP, an independent registered public accounting firm, has issued an attestation report with respect to management's assessment of the Company's compliance with the Applicable Servicing Criteria as of and for the Period.

---

| | | | |
|:---|:---|:---|:---|
| Date: | March 27, 2026 | By: | **Rochester Gas and Electric Corporation, as Servicer** |
|  |  |  | /s/ Michael G. Panichi |
|  |  |  | Michael G. Panichi |
|  |  |  | Treasurer |

---

------

**APPENDIX 1**

---

| | | | |
|:---|:---|:---|:---|
| **Regulation AB Reference** | **Servicing Criteria** | **Applicable Servicing Criteria** | **Inapplicable Servicing Criteria** |
| **General Servicing Considerations** | **General Servicing Considerations** | **General Servicing Considerations** | **General Servicing Considerations** |
| 1122(d)(1)(i) | Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. | X |  |
| 1122(d)(1)(ii) | If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party's performance and compliance with such servicing activities. |  | X |
| 1122(d)(1)(iii) | Any requirements in the transaction agreements to maintain a back-up servicer for the pool assets are maintained. |  | X |
| 1122(d)(1)(iv) | A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. |  | X |
| 1122(d)(1)(v) | Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. | X |  |
| **Cash Collection and Administration** | **Cash Collection and Administration** | **Cash Collection and Administration** | **Cash Collection and Administration** |
| 1122(d)(2)(i) | Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days of receipt, or such other number of days specified in the transaction agreements. | X<sup>1</sup> |  |
| 1122(d)(2)(ii) | Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. | X |  |
| 1122(d)(2)(iii) | Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. |  | X |
| 1122(d)(2)(iv) | The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of overcollateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. | X |  |
| 1122(d)(2)(v) | Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, "federally insured depository institution" with respect to a foreign financial institution means a foreign financial institution that meets the requirements of § 240.13k-1(b)(1) of this chapter. | X |  |
| 1122(d)(2)(vi) | Unissued checks are safeguarded so as to prevent unauthorized access. |  | X |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Regulation AB Reference** | **Servicing Criteria** | **Applicable Servicing Criteria** | **Inapplicable Servicing Criteria** |
| **General Servicing Considerations** | **General Servicing Considerations** | **General Servicing Considerations** | **General Servicing Considerations** |
| 1122(d)(2)(vii) | Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations: (A) Are mathematically accurate; (B) Are prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) Are reviewed and approved by someone other than the person who prepared the reconciliation; and (D) Contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. | X |  |
| **Investor Remittances and Reporting** | **Investor Remittances and Reporting** | **Investor Remittances and Reporting** | **Investor Remittances and Reporting** |
| 1122(d)(3)(i) | Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports: (A) Are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) Provide information calculated in accordance with the terms specified in the transaction agreements; (C) Are filed with the Commission as required by its rules and regulations; and (D) Agree with investors or the Trustee's records as to the total unpaid principal balance and number of pool assets serviced by the servicer. | X |  |
| 1122(d)(3)(ii) | Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. | X |  |
| 1122(d)(3)(iii) | Disbursements made to an investor are posted within two business days to the servicer's investor records, or such other number of days specified in the transaction agreements. | X |  |
| 1122(d)(3)(iv) | Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. | X |  |
| **Pool Asset Administration** | **Pool Asset Administration** | **Pool Asset Administration** | **Pool Asset Administration** |
| 1122(d)(4)(i) | Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. | X |  |
| 1122(d)(4)(ii) | Pool assets and related documents are safeguarded as required by the transaction agreements. | X |  |
| 1122(d)(4)(iii) | Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. |  | X |
| 1122(d)(4)(iv) | Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the applicable servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. | X<sup>2</sup> |  |
| 1122(d)(4)(v) | The servicer's records regarding the pool assets agree with the servicer's records with respect to an obligor's unpaid principal balance. |  | X |

---

------

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| | | | |
|:---|:---|:---|:---|
| **Regulation AB Reference** | **Servicing Criteria** | **Applicable Servicing Criteria** | **Inapplicable Servicing Criteria** |
| **General Servicing Considerations** | **General Servicing Considerations** | **General Servicing Considerations** | **General Servicing Considerations** |
| 1122(d)(4)(vi) | Changes with respect to the terms or status of an obligor's pool asset (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. |  | X<sup>3</sup> |
| 1122(d)(4)(vii) | Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. |  | X<sup>3</sup> |
| 1122(d)(4)(viii) | Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). | X |  |
| 1122(d)(4)(ix) | Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents. |  | X |
| 1122(d)(4)(x) | Regarding any funds held in trust for an obligor (such as escrow accounts): (A) Such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) Interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) Such funds are returned to the obligor within 30 calendar days of full repayment of the related pool asset, or such other number of days specified in the transaction agreements. | X<sup>4</sup> | X<sup>4</sup> |
| 1122(d)(4)(xi) | Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. |  | X |
| 1122(d)(4)(xii) | Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or omission. |  | X |
| 1122(d)(4)(xiii) | Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the transaction agreements. |  | X |

---

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| | | | |
|:---|:---|:---|:---|
| **Regulation AB Reference** | **Servicing Criteria** | **Applicable Servicing Criteria** | **Inapplicable Servicing Criteria** |
| **General Servicing Considerations** | **General Servicing Considerations** | **General Servicing Considerations** | **General Servicing Considerations** |
| 1122(d)(4)(xiv) | Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. |  | X<sup>3</sup> |
| 1122(d)(4)(xv) | Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of this Regulation AB, is maintained as set forth in the transaction agreements. |  | X |

---

<sup>___________________________________________</sup>

<sup>1</sup> With respect to servicing criterion 1122(d)(2)(i), the Company's management has determined this servicing criterion is applicable with respect to the Company's obligation to remit recovery charge collections estimated to have been received by the Company from or on behalf of customers on such business day in respect of all previously billed recovery charges no later than the second business day after which such payments are estimated to have been received based on the then-current days sales outstanding.

<sup>2</sup> With respect to servicing criterion 1122(d)(4)(iv), the Company's management has determined this servicing criterion is applicable with respect to the Company's allocation of recovery charges within bills issued to customers.

<sup>3</sup> With respect to this servicing criterion, the Company's management asserts its servicing activities are applicable to less than 5% of pool assets, thus qualifying for a de minimis exception pursuant to the Securities and Exchange Commission's *Compliance and Disclosure Interpretation ("C&DI") 200.03*. As such, the Company is not asserting to compliance with the servicing activities performed with respect to this servicing criterion.

<sup>4</sup> Servicing criterion 1122(d)(4)(x)(B) is applicable to the activities the Company performs as of and for the Period. Servicing criteria 1122(d)(4)(x)(A) and 1122(d)(4)(x)(C) are not applicable to the activities the Company performs as of and for the Period.

## Exhibit 33.2

**Exhibit 33.2**

**MANAGEMENT'S ASSERTION <br>REPORT ON ASSESSMENT OF COMPLIANCE WITH APPLICABLE SERVICING CRITERIA**

Management of U.S. Bank National Association and U.S. Bank Trust Company, National Association (collectively "U.S. Bank") is responsible for assessing compliance as of and for the year ended December 31, 2025, with the servicing criteria set forth in Item 1122 (d) of Regulation AB applicable to it as set forth on Exhibit A hereto. This report covers asset backed securities transactions within the **U.S. Bank Corporate Trust Asset-Backed Securities Platform**<sup>1</sup> **(the "Platform")**

U.S. Bank hereby provides the following report on its assessment of compliance with the servicing criteria set forth in Item 1122 of Regulation AB applicable to it and as described on Exhibit A hereto:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.U.S. Bank is responsible for assessing its compliance with the servicing criteria applicable to it as noted on the accompanying Exhibit A;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Except as set forth in paragraph 3 below, U.S. Bank used the criteria set forth in paragraph (d) of Item 1122 of Regulation AB to assess its compliance with the applicable servicing criteria;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.The criteria listed in the column titled "Inapplicable Servicing Criteria" on Exhibit A hereto are inapplicable to U.S. Bank based on the servicing activities it performs directly with respect to the Platform;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.U.S. Bank has complied, in all material respects, with the applicable servicing criteria as of and for the year ended December 31, 2025; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.Ernst & Young, LLP, a registered public accounting firm, has issued an attestation report on U.S. Bank's assessment of compliance with the applicable servicing criteria as of and for the year ended December 31, 2025.

___________________

<sup>1</sup> The U.S. Bank Corporate Trust Asset-Backed Securities Platform (the "Platform") consists of the activities involved in the performance of servicing functions for which the Company provides trustee, securities administration, registrar and paying agent services for (i) publicly issued asset-backed and mortgage-backed transactions the securities of which were offered on or after January 1, 2006 and (ii) certain asset-backed transactions for which the Issuer has voluntarily elected to make Regulation AB compliant filings under the Securities Exchange Act of 1934, as amended.

Corporate Trust ABS Platform (A) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1

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| | |
|:---|:---|
| U.S. BANK NATIONAL ASSOCIATION | U.S. BANK NATIONAL ASSOCIATION |
| /s/ Joe Nardi | /s/ Joe Nardi |
| Name: | Joe Nardi |
| Title: | Executive Vice President |

---

---

| | |
|:---|:---|
| U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION | U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION |
| /s/ Joe Nardi | /s/ Joe Nardi |
| Name: | Joe Nardi |
| Title: | Executive Vice President |

---

 Dated: February 26, 2026

Corporate Trust ABS Platform (A) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2

------

**EXHIBIT A to Management's Assertion**

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| | | | |
|:---|:---|:---|:---|
| **Reference** | **Servicing Criteria** | **Applicable Servicing Criteria** | **Inapplicable Servicing Criteria** |
| <br>**<u>General Servicing Considerations</u>** | <br>**<u>General Servicing Considerations</u>** | <br>**<u>General Servicing Considerations</u>** | <br>**<u>General Servicing Considerations</u>** |
| 1122(d)(1)(i) | Policies and procedures are instituted to monitor any performance or other triggers and events of default in accordance with the transaction agreements. | **X** |  |
| 1122(d)(1)(ii) | If any material servicing activities are outsourced to third parties, policies and procedures are instituted to monitor the third party's performance and compliance with such servicing activities. | <br>**X**<sup>2</sup> |  |
| 1122(d)(1)(iii) | Any requirements in the transaction agreements to maintain a back-up servicer for the Pool Assets are maintained. |  | **X** |
| 1122(d)(1)(iv) | A fidelity bond and errors and omissions policy is in effect on the party participating in the servicing function throughout the reporting period in the amount of coverage required by and otherwise in accordance with the terms of the transaction agreements. | **X** |  |
| 1122(d)(1)(v) | Aggregation of information, as applicable, is mathematically accurate and the information conveyed accurately reflects the information. | <br>**X**<sup>3</sup> |  |
| **<u>Cash Collection and Administration</u>** | **<u>Cash Collection and Administration</u>** | **<u>Cash Collection and Administration</u>** | **<u>Cash Collection and Administration</u>** |
| 1122(d)(2)(i) | Payments on pool assets are deposited into the appropriate custodial bank accounts and related bank clearing accounts no more than two business days following receipt, or such other number of days specified in the transaction agreements. | **X** |  |
| 1122(d)(2)(ii) | Disbursements made via wire transfer on behalf of an obligor or to an investor are made only by authorized personnel. | **X** |  |
| 1122(d)(2)(iii) | Advances of funds or guarantees regarding collections, cash flows or distributions, and any interest or other fees charged for such advances, are made, reviewed and approved as specified in the transaction agreements. | <br>**X**<sup>4</sup> |  |
| 1122(d)(2)(iv) | The related accounts for the transaction, such as cash reserve accounts or accounts established as a form of over collateralization, are separately maintained (e.g., with respect to commingling of cash) as set forth in the transaction agreements. | **X** |  |
| 1122(d)(2)(v) | Each custodial account is maintained at a federally insured depository institution as set forth in the transaction agreements. For purposes of this criterion, "federally insured depository institution" with respect to a foreign financial institution means a foreign financial institution that meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange Act. | **X** |  |
| 1122(d)(2)(vi) | Unissued checks are safeguarded so as to prevent unauthorized access. | **X** |  |

---

<sup>___________________________________</sup>

<sup>2</sup>No servicing activities were performed by the Company that required the servicing criteria to be complied with.

<sup>3</sup>No servicing activities were performed by the Company that required the servicing criteria to be complied with.

<sup>4</sup>No servicing activities were performed by the Company that required the servicing criteria to be complied with.

Corporate Trust ABS Platform (A) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3

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| | | | |
|:---|:---|:---|:---|
| **Reference** | **Servicing Criteria** | **Applicable Servicing Criteria** | **Inapplicable Servicing Criteria** |
| <br>1122(d)(2)(vii) | <br>Reconciliations are prepared on a monthly basis for all asset-backed securities related bank accounts, including custodial accounts and related bank clearing accounts. These reconciliations are (A) mathematically accurate; (B) prepared within 30 calendar days after the bank statement cutoff date, or such other number of days specified in the transaction agreements; (C) reviewed and approved by someone other than the person who prepared the reconciliation; and (D) contain explanations for reconciling items. These reconciling items are resolved within 90 calendar days of their original identification, or such other number of days specified in the transaction agreements. | <br>**X** |  |
| **<br><u>Investor Remittances and Reporting</u>** | **<br><u>Investor Remittances and Reporting</u>** | **<br><u>Investor Remittances and Reporting</u>** | **<br><u>Investor Remittances and Reporting</u>** |
| <br>1122(d)(3)(i) | <br>Reports to investors, including those to be filed with the Commission, are maintained in accordance with the transaction agreements and applicable Commission requirements. Specifically, such reports (A) are prepared in accordance with timeframes and other terms set forth in the transaction agreements; (B) provide information calculated in accordance with the terms specified in the transaction agreements; (C) are filed with the Commission as required by its rules and regulations; and (D) agree with investors' or the trustee's records as to the total unpaid principal balance and number of Pool Assets serviced by the Servicer. | <br>**X** |  |
| <br>1122(d)(3)(ii) | <br>Amounts due to investors are allocated and remitted in accordance with timeframes, distribution priority and other terms set forth in the transaction agreements. | <br>**X** |  |
| <br>1122(d)(3)(iii) | <br>Disbursements made to an investor are posted within two business days to the Servicer's investor records, or such other number of days specified in the transaction agreements. | <br>**X** |  |
| <br>1122(d)(3)(iv) | <br>Amounts remitted to investors per the investor reports agree with cancelled checks, or other form of payment, or custodial bank statements. | <br>**X** |  |
| **<br><u>Pool Asset Administration</u>** | **<br><u>Pool Asset Administration</u>** | **<br><u>Pool Asset Administration</u>** | **<br><u>Pool Asset Administration</u>** |
| <br>1122(d)(4)(i) | <br>Collateral or security on pool assets is maintained as required by the transaction agreements or related pool asset documents. |  | <br>**X** |
| <br>1122(d)(4)(ii) | <br>Pool assets and related documents are safeguarded as required by the transaction agreements. |  | <br>**X** |
| <br>1122(d)(4)(iii) | <br>Any additions, removals or substitutions to the asset pool are made, reviewed and approved in accordance with any conditions or requirements in the transaction agreements. | <br>**X** |  |
| <br>1122(d)(4)(iv) | <br>Payments on pool assets, including any payoffs, made in accordance with the related pool asset documents are posted to the Servicer's obligor records maintained no more than two business days after receipt, or such other number of days specified in the transaction agreements, and allocated to principal, interest or other items (e.g., escrow) in accordance with the related pool asset documents. |  | <br>**X** |

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Corporate Trust ABS Platform (A) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4

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| | | | |
|:---|:---|:---|:---|
| **Reference** | **Servicing Criteria** | **Applicable Servicing Criteria** | **Inapplicable Servicing Criteria** |
| <br>1122(d)(4)(v) | <br>The Servicer's records regarding the pool assets agree with the Servicer's records with respect to an obligor's unpaid principal balance. |  | <br>**X** |
| <br>1122(d)(4)(vi) | <br>Changes with respect to the terms or status of an obligor's pool assets (e.g., loan modifications or re-agings) are made, reviewed and approved by authorized personnel in accordance with the transaction agreements and related pool asset documents. |  | <br>**X** |
| <br>1122(d)(4)(vii) | <br>Loss mitigation or recovery actions (e.g., forbearance plans, modifications and deeds in lieu of foreclosure, foreclosures and repossessions, as applicable) are initiated, conducted and concluded in accordance with the timeframes or other requirements established by the transaction agreements. |  | <br>**X** |
| <br>1122(d)(4)(viii) | <br>Records documenting collection efforts are maintained during the period a pool asset is delinquent in accordance with the transaction agreements. Such records are maintained on at least a monthly basis, or such other period specified in the transaction agreements, and describe the entity's activities in monitoring delinquent pool assets including, for example, phone calls, letters and payment rescheduling plans in cases where delinquency is deemed temporary (e.g., illness or unemployment). |  | <br>**X** |
| <br>1122(d)(4)(ix) | <br>Adjustments to interest rates or rates of return for pool assets with variable rates are computed based on the related pool asset documents. |  | <br>**X** |
| <br>1122(d)(4)(x) | <br>Regarding any funds held in trust for an obligor (such as escrow accounts): (A) such funds are analyzed, in accordance with the obligor's pool asset documents, on at least an annual basis, or such other period specified in the transaction agreements; (B) interest on such funds is paid, or credited, to obligors in accordance with applicable pool asset documents and state laws; and (C) such funds are returned to the obligor within 30 calendar days of full repayment of the related pool assets, or such other number of days specified in the transaction agreements. |  | <br>**X** |
| <br>1122(d)(4)(xi) | <br>Payments made on behalf of an obligor (such as tax or insurance payments) are made on or before the related penalty or expiration dates, as indicated on the appropriate bills or notices for such payments, provided that such support has been received by the servicer at least 30 calendar days prior to these dates, or such other number of days specified in the transaction agreements. |  | <br>**X** |
| <br>1122(d)(4)(xii) | <br>Any late payment penalties in connection with any payment to be made on behalf of an obligor are paid from the Servicer's funds and not charged to the obligor, unless the late payment was due to the obligor's error or omission. |  | <br>**X** |
| <br>1122(d)(4)(xiii) | <br>Disbursements made on behalf of an obligor are posted within two business days to the obligor's records maintained by the servicer, or such other number of days specified in the transaction agreements. |  | <br>**X** |
| <br>1122(d)(4)(xiv) | <br>Delinquencies, charge-offs and uncollectible accounts are recognized and recorded in accordance with the transaction agreements. |  | <br>**X** |
| <br>1122(d)(4)(xv) | <br>Any external enhancement or other support, identified in Item 1114(a)(1) through (3) or Item 1115 of Regulation AB, is maintained as set forth in the transaction agreements. | <br>**X** |  |

---

Corporate Trust ABS Platform (A) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5

## Exhibit 34.1

![imagea.jpg](imagea.jpg)

**Exhibit 34.1**

**Report of Independent Registered Public Accounting Firm**

The Board of Directors

Rochester Gas and Electric Corporation:

We have examined management's assertion, included in the accompanying Assessment of Compliance with Applicable Servicing Criteria, that Rochester Gas and Electric Corporation (the Company) complied with the servicing criteria set forth in Item 1122(d) of the Securities and Exchange Commission's Regulation AB for the publicly-issued recovery bonds issued by RG&E Storm Funding, LLC and serviced by the Company (the Platform), except for servicing criteria 1122(d)(1)(ii)-1122(d)(1)(iv), 1122(d)(2)(iii), 1122(d)(2)(vi), 1122(d)(4)(iii), 1122(d)(4)(v), 1122(d)(4)(ix), 1122(d)(4)(x)(A), 1122(d)(4)(x)(C), 1122(d)(4)(xi) - 1122(d)(4)(xiii) and 1122(d)(4)(xv), which the Company has determined are not applicable to the activities it performs with respect to the Platform, and servicing criteria 1122(d)(4)(vi)-1122(d)(4)(vii) and 1122(d)(4)(xiv) for which the Company asserts its servicing activities are applicable to less than 5% of pool assets, thus qualifying for a de minimis exception pursuant to the Securities and Exchange Commission's *Compliance and Disclosure Interpretation (C&DI) 200.03* (the Applicable Servicing Criteria) as of and for the period from February 14, 2025 through December 31, 2025. The Company has determined that servicing criterion 1122(d)(2)(i) is applicable with respect to the Company's obligation to remit recovery charge collections estimated to have been received by Rochester Gas and Electric Corporation from or on behalf of customers on such business day in respect of all previously billed recovery charges no later than the second business day after which such payments are estimated to have been received based on the then-current days sales outstanding, and the Company has determined that servicing criterion 1122(d)(4)(iv) is applicable with respect to the Company's allocation of recovery charges within bills issued to customers. Management is responsible for the Company's compliance with the Applicable Servicing Criteria for the Platform. Our responsibility is to express an opinion on management's assertion about the Company's compliance with the Applicable Servicing Criteria for the Platform based on our examination.

Our examination was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and in accordance with attestation standards established by the American Institute of Certified Public Accountants to obtain reasonable assurance and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the Applicable Servicing Criteria for the Platform and performing such other procedures as we considered necessary in the circumstances. Our examination included testing the asset-backed transaction and securities that comprise the Platform, testing selected servicing activities related to the Platform, and determining whether the Company processed those selected transactions and performed those selected activities in compliance with the Applicable Servicing Criteria. Furthermore, our procedures were limited to the selected transactions and servicing activities performed by the Company during the period covered by this report. Our procedures were not designed to determine whether errors may have occurred either prior to or subsequent to our tests that may have affected the balances or amounts calculated or reported by the Company during the period covered by this report for the asset-backed transaction included in the Platform. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on the Company's compliance with the Applicable Servicing Criteria for the Platform.

We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements relating to the examination engagement.

![image1a.jpg](image1a.jpg)

------

![image2.jpg](image2.jpg)

In our opinion, management's assertion that Rochester Gas and Electric Corporation complied with the aforementioned Applicable Servicing Criteria as of and for the period from February 14, 2025 through December 31, 2025 is fairly stated, in all material respects.

Our opinion on management's assertion does not extend to any other information that accompanies or contains our report.

/s/KPMG LLP

Chicago, Illinois

March 27, 2026

## Exhibit 34.2

![image.jpg](image.jpg)

**Exhibit 34.2**

**Report of Independent Registered Public Accounting Firm** 

The Board of Directors

U.S. Bank National Association and U.S. Bank Trust Company, National Association

We have examined management's assertion, included in the accompanying Report on Assessment of Compliance with Applicable Servicing Criteria, that U.S. Bank National Association and U.S. Bank Trust Company, National Association (collectively, the "Company") complied with the servicing criteria set forth in Item 1122(d) of the Securities and Exchange Commission's Regulation AB for the U.S. Bank Corporate Trust Asset-Backed Securities Platform (the "Platform"), for which the Company provides trustee, securities administration, registrar and paying agent services, as of and for the year ended December 31, 2025, except for servicing criteria 1122(d)(1)(iii), 1122(d)(4)(i)-(ii), and 1122(d)(4)(iv)-(xiv), which the Company has determined are not applicable to the activities it performs with respect to the servicing platform covered by this report. Management is responsible for the Company's compliance with those servicing criteria. Our responsibility is to express an opinion on management's assertion about the Company's compliance with the servicing criteria based on our examination.

Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and the Public Company Accounting Oversight Board (United States) and, accordingly, included examining, on a test basis, evidence about the Company's compliance with the applicable servicing criteria and performing such other procedures as we considered necessary in the circumstances. Our examination included testing of less than all of the individual asset-backed transactions and securities that comprise the Platform, testing of less than all of the servicing activities related to the Platform, and determining whether the Company processed those selected transactions and performed those selected activities in compliance with the servicing criteria. Furthermore, our procedures were limited to the selected transactions and servicing activities performed by the Company during the period covered by this report. Our procedures were not designed to determine whether errors may have occurred either prior to or subsequent to our tests that may have affected the balances or amounts calculated or reported by the Company during the period covered by this report for the selected transactions or any other transactions. Although the Company is responsible for assessing compliance with Items 1122(d)(1)(ii), 1122(d)(1)(v), and 1122(d)(2)(iii) of Regulation AB, there were no servicing activities performed by the Company during the year ended December 31, 2025 that required these servicing criteria to be complied with. We believe that the evidence we obtained is sufficient and appropriate to provide a reasonable basis for our opinion.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our examination engagement.

Our examination does not provide a legal determination on the Company's compliance with the servicing criteria.

In our opinion, management's assertion that the Company complied with the aforementioned servicing criteria as of and for the year ended December 31, 2025, for the U.S. Bank Corporate Trust Asset-Backed Securities Platform is fairly stated, in all material respects.

![image1.jpg](image1.jpg)

Minneapolis, Minnesota

February 26, 2026

## Exhibit 35.1

**EXHIBIT 35.1**

**CERTIFICATION**

The undersigned hereby certifies that the undersigned is the duly elected and acting Treasurer of Rochester Gas and Electric Corporation, as servicer (the "Servicer") under the Recovery Property Servicing Agreement dated as of February 14, 2025 (the "Servicing Agreement") by and between the Servicer and RG&E Storm Funding, LLC, and further certifies that:

1. A review of the activities of the Servicer and of its performance under the Servicing Agreement during the fiscal year ended December 31, 2025 has been made under the supervision of the undersigned pursuant to Section 3.03 of the Servicing Agreement.

2. To the best of the undersigned's knowledge, based on such review, the Servicer has fulfilled all of its obligations under the Servicing Agreement in all material respects throughout the fiscal year ended December 31, 2025.

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| | | | |
|:---|:---|:---|:---|
| | | **Rochester Gas and Electric Corporation, as Servicer** | **Rochester Gas and Electric Corporation, as Servicer** |
| Date: | March 27, 2026 | By: | /s/ Michael G. Panichi |
|  |  |  | Michael G. Panichi |
|  |  |  | Treasurer |

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<br>