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EXELON CORP 8-K Report, Corporate Update (Aug 25, 2011)

Filed August 25, 2011For Securities:EXC

Summary

Exelon Corporation, through its wholly owned subsidiary Exelon Generation Company, LLC, announced the successful completion of its acquisition of the Wolf Hollow natural gas-fired power plant on August 24, 2011. This strategic acquisition, for a total of $305 million plus working capital adjustments, adds 720 megawatts (MW) of clean energy capacity to Exelon's portfolio. The Wolf Hollow plant is located in north Texas, a key market within the Electric Reliability Council of Texas (ERCOT). This expansion is significant as it strengthens Exelon's presence in a competitive wholesale power market and aligns with its strategy to grow its generation fleet with cleaner energy sources. Investors should note this transaction diversifies Exelon's generation mix and geographic footprint within a major independent system operator's region.

Key Highlights

  • 1Exelon Generation Company, LLC completed the acquisition of the Wolf Hollow power plant on August 24, 2011.
  • 2The purchase price for the Wolf Hollow plant was $305 million, subject to working capital adjustments.
  • 3The acquired plant is a 720 MW combined-cycle natural gas-fired power facility.
  • 4Wolf Hollow is located in north Texas, operating within the Electric Reliability Council of Texas (ERCOT) market.
  • 5This acquisition adds 'clean energy' to Exelon's generation fleet.
  • 6The transaction was originally announced on May 11, 2011, with a Purchase Agreement between Exelon Generation and Sequent Wolf Hollow, LLC.

Frequently Asked Questions

This Form 8-K filing was made by Exelon Corporation and its subsidiary Exelon Generation Company, LLC to report the completion of the acquisition of the Wolf Hollow power plant.

The acquisition of the 720 MW Wolf Hollow plant strengthens Exelon's generation capacity in the competitive ERCOT market in Texas. It adds a significant source of clean energy to their portfolio and expands their operational footprint in a key regional market.

ERCOT is the independent system operator for most of the state of Texas. It manages the flow of electric power on the Texas grid, ensuring reliability and the efficient operation of the wholesale electricity market.

This filing does not contain information regarding new debt or equity issuance. It solely reports the completion of the asset acquisition for $305 million plus working capital adjustments.