8-KOther EventsExhibits & Filings

EXELON CORP 8-K Report, Corporate Update (Aug 14, 2009)

Filed August 14, 2009For Securities:EXC

Summary

This 8-K filing from Exelon Corporation (EXC), specifically through its subsidiary PECO Energy Company (PECO), details significant infrastructure investment plans aimed at modernizing the energy grid. PECO has submitted a substantial $650 million plan to the Pennsylvania Public Utility Commission for the installation of over 1.6 million smart meters and the deployment of advanced communication networks over a decade. This initiative is designed to integrate customer energy usage data with utility operations, paving the way for greater efficiency and advanced grid management. Furthermore, PECO is actively seeking federal funding to accelerate these modernization efforts. An application has been filed with the U.S. Department of Energy for $200 million in matching funds from the federal stimulus grant program. If successful, this grant could enable PECO to deploy up to 600,000 smart meters by 2012, significantly fast-tracking the adoption of smart grid technologies.

Key Highlights

  • 1PECO Energy Company (a subsidiary of Exelon) filed a $650 million plan with the Pennsylvania Public Utility Commission for smart meter deployment.
  • 2The plan includes installing over 1.6 million residential and commercial smart meters.
  • 3Advanced communication networks and information systems will be deployed over ten years.
  • 4PECO is seeking $200 million in matching funds from the U.S. Department of Energy's federal stimulus grant program.
  • 5Federal stimulus funds could accelerate the installation of up to 600,000 smart meters by 2012.
  • 6These initiatives aim to modernize the energy grid and integrate customer energy usage with utility operations.

Frequently Asked Questions

The primary purpose is to modernize PECO's energy infrastructure by installing smart meters and advanced communication networks. This will enable better integration of customer energy usage with utility operations, leading to improved efficiency and grid management.

PECO has filed a $650 million plan with the Pennsylvania Public Utility Commission for the ten-year deployment of smart meters and related infrastructure. Additionally, they are seeking $200 million in federal stimulus grant funds to potentially accelerate part of this deployment.

The overall plan submitted to the Pennsylvania Public Utility Commission is projected to take ten years. However, if PECO secures federal stimulus funds, up to 600,000 meters could be installed by 2012.

This filing is made by PECO Energy Company, a subsidiary of Exelon. While the investments are significant for PECO and represent modernization efforts within the Exelon family, the direct impact on Exelon's consolidated financial statements would be detailed in subsequent financial reports. Investors should monitor Exelon's ongoing filings for updates on capital expenditures and their impact.