Summary
This 8-K filing from Exelon Corporation (EXC), filed on August 21, 2008, primarily announces a significant development for its subsidiary, PECO Energy Company (PECO). PECO has reached a joint settlement petition with the Pennsylvania Public Utility Commission (PUC) and six other entities regarding a requested natural gas service rate increase. This settlement represents a compromise from PECO's original request.
Key Highlights
- 1PECO Energy Company, a subsidiary of Exelon, filed a joint settlement petition with the Pennsylvania Public Utility Commission.
- 2The settlement addresses PECO's requested natural gas service rate increase filed in March 2008.
- 3The settlement was reached with six other entities.
- 4The approved revenue increase through the settlement is $76.5 million.
- 5This represents a reduction of $21.8 million compared to PECO's initially requested $98.3 million.
- 6A press release detailing this settlement is attached as an exhibit.
- 7The filing includes standard forward-looking statement disclaimers and references to other SEC filings for risk factors.
Frequently Asked Questions
The main event is the announcement that PECO Energy Company, a subsidiary of Exelon, has filed a joint settlement petition with the Pennsylvania Public Utility Commission and other parties regarding a natural gas service rate increase. This settlement modifies PECO's original request.
Through the settlement, PECO agreed to a revenue increase of $76.5 million. This is less than the $98.3 million initially requested.
The settlement petition was filed jointly by PECO Energy Company and the Pennsylvania Public Utility Commission, along with six other unnamed entities.
A press release detailing the settlement is attached as Exhibit 99.1 to this Form 8-K filing with the SEC.