8-K 1 0001.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 December 20, 2000 (Date of earliest event reported) EXELON CORPORATION (Exact name of registrant as specified in its charter) Pennsylvania 1-16169 23-2990190 (State or other (SEC (IRS Employer jurisdiction of file number) Identification incorporation) Number) 37th Floor, 10 South Dearborn Street Post Office Box A-3005 Chicago, Illinois 60690-3005 (Address of principal executive offices) Registrant's telephone number, including area code: (312) 394-4321 Item 5. Other Events Commonwealth Edison Company (ComEd) has proposed to transfer its nuclear generating stations to a new generating company (Exelon Genco) that will be a subsidiary of ComEd's parent company, Exelon Corporation. In connection with the proposed transfer of the nuclear generating stations, ComEd asked the Illinois Commerce Commission (ICC) to approve the continued recovery of decommissioning costs after the proposed transfer. On December 20, 2000, the ICC issued an order finding that the ICC has the legal authority to permit ComEd to continue to recover decommissioning costs from customers for the six-year term of the power purchase agreements between ComEd and Exelon Genco. Under the ICC order, upon a transfer of the nuclear stations to Exelon Genco , ComEd will be permitted to recover $73 million per year from customers for decommissioning for the years 2001-2004. In 2005 and 2006, ComEd can recover up to $73 million annually, depending upon the portion of the output of the former ComEd nuclear stations that ComEd purchases from Exelon Genco. Subsequent to 2006, there will be no further recoveries of decommissioning costs from customers. The ICC order also provides that any surplus funds after the nuclear stations are decommissioned must be refunded to customers. The amount of recovery in the ICC order is less than the $84 million amount ComEd currently recovers annually and is less than the $121 million per year for six years requested by ComEd. ComEd is currently evaluating the order and has not determined whether it will appeal the order. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. EXELON CORPORATION /S/ Ruth Ann M. Gillis --------------------------- Principal Financial Officer December 22, 2000