The Texas Annual Operations Report (THOR) is an annual report submitted by Texas electric utilities to the Public Utility Commission of Texas (PUT). It contains information about the utility's operations and activities during the previous year. It also includes information about the utility's financial performance, customer service, and environmental compliance. The report is used by the PUT to assess the utility's performance, and to ensure that it is operating in a safe and reliable manner. The THOR consists of four parts: the Summary of Activities, the Financial Analysis, the System Reliability Analysis, and the Environmental Compliance Report. The Summary of Activities includes information on customer service, rate structure, and capital expenditures. The Financial Analysis section includes information on revenues, expenses, and financial ratios. The System Reliability Analysis contains information on system safety and reliability, and the Environmental Compliance Report includes information on environmental compliance and regulatory compliance. There are two types of the Texas Annual Operations Report: the Form TAOR-1, which is used by investor-owned utilities, and the Form TAOR-2, which is used by municipally-owned utilities.