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EXELON CORP 8-K Report, Corporate Update (May 25, 2007)

Filed May 25, 2007For Securities:EXC

Summary

This Form 8-K from Exelon Corporation provides an update on a significant legislative development in Illinois concerning Senate Bill 1592. The bill, specifically Floor Amendment No. 3, has moved forward after being approved by the House Electric Utility Oversight Committee with a close vote of 5 to 4. This development is crucial for investors as it pertains to the regulatory and operational landscape for Exelon and its subsidiaries, particularly Commonwealth Edison Company (ComEd), which operates in Illinois. The potential passage of this bill could have material implications for the company's future business and financial performance. Investors should monitor the upcoming vote in the Illinois House of Representatives closely, as the outcome of Senate Bill 1592 could impact Exelon's business environment. The filing also includes a standard disclaimer regarding forward-looking statements and refers to previously filed documents for a comprehensive understanding of associated risks and uncertainties.

Key Highlights

  • 1Exelon Corporation (EXC) filed a Form 8-K on May 25, 2007, reporting on legislative activity in Illinois.
  • 2Floor Amendment No. 3 to Senate Bill 1592 was approved by the Illinois House Electric Utility Oversight Committee on May 24, 2007.
  • 3The committee's vote was narrowly divided, with 5 members voting in favor and 4 against.
  • 4The bill is now eligible for a vote in the full Illinois House of Representatives.
  • 5This legislative development is material to Exelon and its Illinois subsidiary, Commonwealth Edison Company (ComEd).
  • 6The attached Exhibit 99.1 contains the text of the amended bill.
  • 7The filing includes standard cautionary language regarding forward-looking statements and directs investors to other SEC filings for risk factors.

Frequently Asked Questions

The main purpose of this 8-K filing is to inform investors about a significant development in Illinois state legislation, specifically the progress of Floor Amendment No. 3 to Senate Bill 1592, which has been approved by a key committee and is awaiting a vote in the Illinois House of Representatives.

Senate Bill 1592, and particularly its amended version, could impact the regulatory framework and operational environment for Exelon and its primary Illinois utility subsidiary, Commonwealth Edison Company (ComEd). Changes in legislation can affect rates, services, and overall business conditions for utility companies, making its passage or failure a material event for investors.

The House Electric Utility Oversight Committee approved Floor Amendment No. 3 to Senate Bill 1592 by a narrow margin of 5 votes to 4.

The filing directs investors to Exelon's 2006 Annual Report on Form 10-K and its First Quarter 2007 Quarterly Report on Form 10-Q for detailed discussions on risk factors and other relevant financial information.