8-KMaterial AgreementsExhibits & Filings

EXELON CORP 8-K Report, Material Agreement (Aug 31, 2010)

Filed August 31, 2010For Securities:EXC

Summary

This 8-K filing by Exelon Corporation (EXC) and its subsidiary PECO Energy Company (PECO) reports on the entry into material definitive agreements concerning PECO's electric and gas distribution rate cases before the Pennsylvania Public Utility Commission (PAPUC). On August 31, 2010, PECO and various interested parties filed joint petitions for partial settlement of its electric distribution rate case and for a full settlement of its gas distribution rate case. These settlements, if approved by the PAPUC, are expected to result in rate increases taking effect on January 1, 2011. Specifically, the electric distribution settlement proposes an approximate $225 million increase in revenue, representing about 71% of the $316 million originally requested. A key detail is that the remaining issue in the electric case is unrelated to PECO's revenue request. The gas distribution settlement proposes an approximate $20 million increase in revenue, which is about 46% of the $44 million originally requested. Investors should note that these settlements are subject to regulatory approval and involve a broad group of stakeholders, including consumer and business advocates.

Key Highlights

  • 1PECO Energy Company (a subsidiary of Exelon) filed joint petitions for settlement in its electric and gas distribution rate cases with the Pennsylvania Public Utility Commission (PAPUC).
  • 2The electric distribution rate case settlement proposes an approximate $225 million revenue increase, which is 71% of the $316 million initially requested.
  • 3The gas distribution rate case settlement proposes an approximate $20 million revenue increase, which is 46% of the $44 million initially requested.
  • 4If approved by the PAPUC, the new rates are scheduled to take effect on January 1, 2011.
  • 5The electric settlement involves a wide range of parties, including the Office of Consumer Advocate, Office of Small Business Advocate, and various industrial and community groups.
  • 6The primary issue remaining in the electric distribution case is not related to PECO's revenue request.
  • 7The filing is an 8-K reporting a material definitive agreement related to regulatory proceedings.

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