Summary
Exelon Corporation has disclosed its direct net exposure to Enron, which is less than $10 million. The company's direct gross exposure, representing current energy sales to Enron, stands at under $20 million. Exelon emphasized that they are not engaging in any new trading activities with Enron and are actively monitoring the evolving Enron situation while evaluating their legal rights and obligations. This disclosure is particularly relevant given the widespread concerns surrounding Enron's financial distress at the time. Investors are provided with a quantitative measure of Exelon's direct financial risk, which appears to be contained given the company's overall size and revenue.
Key Highlights
- 1Exelon's direct net exposure to Enron is less than $10 million.
- 2Direct gross exposure to Enron (current energy sales) is less than $20 million.
- 3Exelon is not engaged in any new trading activities with Enron.
- 4The company is closely monitoring the Enron situation.
- 5Exelon is considering all its legal rights and obligations related to Enron.
- 6Exelon is a large electric utility with approximately 5 million customers and over $15 billion in annual revenues.