Exhibit 99.1

Contact:	Chaka Patterson	FOR IMMEDIATE RELEASE
	Investor Relations
	312-394-7234
	Jennifer Medley
	Corporate Communications
	312-394-7189

Exelon Announces Third Quarter Results;

Reaffirms Full Year 2007 Operating Earnings Guidance and

Raises Full Year GAAP Earnings Guidance

CHICAGO (October 26, 2007) – Exelon Corporation’s (Exelon) third quarter 2007 consolidated earnings prepared in accordance with GAAP were $780 million, or $1.15 per diluted share, compared with a loss of $44 million, or $0.07 per share, in the third quarter of 2006.

Exelon’s adjusted (non-GAAP) operating earnings for the third quarter of 2007 were $823 million, or $1.21 per diluted share, compared with $690 million, or $1.02 per diluted share, for the same period in 2006. The increase in adjusted (non-GAAP) operating earnings per share was primarily due to higher margins on energy sales at Exelon Generation Company, LLC (Generation), previously authorized transmission and delivery service revenue increases for Commonwealth Edison Company (ComEd), higher nuclear output reflecting fewer refueling outage days, and the effects of warmer weather conditions as compared with last year in the ComEd service territory. These positive factors were partially offset by significantly lower net income at ComEd primarily due to the end of its nearly ten-year regulatory transition period and associated transition revenues, higher operating and maintenance expense, and increased depreciation and amortization primarily related to the scheduled higher competitive transition charge (CTC) amortization at PECO Energy Company (PECO).

“Our people delivered a very fine third quarter,” said John W. Rowe, Exelon chairman and CEO. “Our nuclear fleet drove improved generation margins. And ComEd and PECO performed admirably in the face of unusually warm late summer weather and severe storms. In view of our financial results thus far, we are very confident in our full year operating earnings guidance range of $4.15 to $4.30 per share.”

Adjusted (non-GAAP) operating earnings for the third quarter of 2007 do not include the following items that are included in reported GAAP earnings (all after tax):

• A charge of $80 million, or $0.12 per diluted share, for the costs associated with the Illinois electric rate settlement, including ComEd’s previously announced customer rate relief programs.

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• Earnings of $17 million, or $0.03 per diluted share, associated with investments in synthetic fuel-producing facilities, including the impact of mark-to-market losses associated with the related derivatives.

• Income of $18 million, or $0.03 per diluted share, resulting from decreases in decommissioning obligations primarily related to the AmerGen Energy Company, LLC (AmerGen) nuclear plants.

Adjusted (non-GAAP) operating earnings for the third quarter of 2006 did not include the following items that were included in reported GAAP earnings (all after tax):

• A charge of $776 million, or $1.15 per diluted share, related to the impairment of ComEd’s goodwill.

• Mark-to-market gains of $58 million, or $0.08 per diluted share, primarily from Generation’s economic hedging activities.

• A one-time benefit of $52 million, or $0.08 per diluted share, approved by the Illinois Commerce Commission’s (ICC) July 26, 2006 rate order to recover previously incurred losses on the extinguishment of debt as part of ComEd’s 2004 Accelerated Liability Management Plan.

• Expenses of $42 million, or $0.06 per diluted share, related to certain integration costs associated with the terminated merger with Public Service Enterprise Group Incorporated (PSEG). These expenses include approximately $35 million for the write-off of previously capitalized merger-related costs.

• Severance charges of $14 million, or $0.02 per diluted share.

• A net loss of $13 million, or $0.02 per diluted share, associated with investments in synthetic fuel-producing facilities, including the impact of mark-to-market losses associated with the related derivatives.

2007 Earnings Outlook

Exelon affirmed its adjusted (non-GAAP) operating earnings guidance range for 2007 of $4.15 to $4.30 per share. The following table indicates guidance ranges by operating company contribution to 2007 adjusted (non-GAAP) operating earnings per Exelon share, excluding Exelon holding company.

Generation:	$	3.45 to $3.55
ComEd:	$	0.20 to $0.25
PECO:	$	0.65 to $0.70

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The outlook for 2007 adjusted (non-GAAP) operating earnings for Exelon and its subsidiaries excludes the following items:

• mark-to-market adjustments from economic hedging activities

• significant impairments of intangible assets, including goodwill

• significant changes in decommissioning obligation estimates

• investments in synthetic fuel-producing facilities

• costs associated with the Illinois electric rate settlement, including ComEd’s previously announced customer rate relief programs

• gains or losses on the State Line Energy, L.L.C. (State Line) and Tenaska Georgia Partners, LP transactions

• other unusual items

• significant future changes to GAAP

Giving consideration to these factors, Exelon estimates GAAP earnings in 2007 will fall in the range of $3.90 to $4.20 per share, up from $3.70 to $4.00 per share previously. Both Exelon’s operating earnings and GAAP earnings guidance are based on the assumption of normal weather.

Third Quarter and Recent Highlights

• Illinois Settlement Legislation on Electric Rates and Policy: On July 24, 2007, following extensive discussions with legislative leaders in Illinois, ComEd, Generation, and other utilities and generators in Illinois reached an oral agreement (the Settlement) with various representatives from the State of Illinois concluding discussions of measures to address concerns about higher electric bills without rate freeze, generation tax or other legislation that Exelon believes would be harmful to electricity consumers, electric utilities and generators, and the State of Illinois. Legislation reflecting the Settlement (Settlement Legislation) was passed by the Illinois legislature on July 26, 2007 and was signed into law on August 28, 2007 by the Governor of Illinois. The Settlement Legislation preserves the competitive electric market in Illinois while providing a multi-year, $1 billion rate relief package for Illinois residential electricity consumers and certain small business customers and a range of related electric industry policy changes, including the creation of the Illinois Power Agency (IPA) and an alternative method of purchasing power for consumers.

Exelon has committed to contributing approximately $800 million to rate relief programs over four years, including partial funding for the IPA, in addition to approximately $11 million of rate relief credits provided by ComEd prior to June 14, 2007 under rate relief programs previously announced. ComEd will continue to provide its $64 million rate relief package announced on April 23, 2007. Generation will contribute a total of up to $747 million, of which $435 million will be available to reimburse ComEd for rate relief programs for its customers, $307.5 million will be for rate relief programs for customers of other Illinois utilities, and $4.5 million will be for funding operations of the IPA. Of the $800 million to be contributed to rate relief by Generation and ComEd, it is estimated that $459 million, $222 million, $105 million and $14 million will be provided to Illinois customers for electricity consumed in 2007, 2008, 2009 and 2010, respectively. In September, ComEd began issuing rate relief credits in its customers’ bills.

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To fulfill a requirement of the Settlement Legislation, ComEd and Generation entered into a five-year financial swap contract, the effect of which will cause ComEd to pay fixed prices and cause Generation to pay a market price for a portion of ComEd’s load. The financial terms cover energy costs only, not capacity or ancillary services. The contract is designed to dovetail with ComEd’s remaining auction contracts for energy, increasing in volume as the contracts expire. The contract volumes will be 1,000 MW for the period from June 2008 through May 2009, 2,000 MW for the period from June 2009 through May 2010, and 3,000 MW in each of the periods June 2010 through May 2011, June 2011 through May 2012, and June 2012 through May 2013. This arrangement is deemed prudent and ComEd will receive full cost recovery in rates. The contract became effective upon enactment of the Settlement Legislation.

• Value Return: On August 31, 2007, Exelon’s board of directors approved a share repurchase program for up to $1.25 billion of its outstanding common stock, consistent with Exelon’s value return policy, under which the Company uses share repurchases from time to time to return cash to shareholders after funding maintenance capital and other commitments and in the absence of higher value-added growth opportunities. On September 4, 2007, Exelon entered into agreements with two investment banks to repurchase a total of $1.25 billion of Exelon’s common shares under an accelerated share repurchase (ASR) arrangement. The ASR arrangement included a pricing collar, which established a minimum and maximum number of shares to be repurchased. On September 20 and 21, 2007, Exelon received the minimum number of shares, as determined by the ASR arrangement, which amounted to 15.1 million shares at a cost of $1.17 billion. Upon purchase of those shares from the investment banks, Exelon recorded them immediately as treasury shares. The balance of the ASR arrangement will be settled in the first quarter of 2008, at which time Exelon may receive additional shares.

• Nuclear Operations: Generation’s nuclear fleet, including its owned output from the Salem Generating Station operated by PSEG Nuclear LLC, produced 36,356 GWhs in the third quarter of 2007, compared with 35,867 GWhs in the third quarter of 2006. The Exelon-operated nuclear plants achieved a 97.0 percent capacity factor for the third quarter of 2007 compared with 95.8 percent for the third quarter of 2006. The Exelon-operated nuclear plants began two scheduled refueling outages late in the third quarter of 2007 (9 days), compared with beginning two refueling outages in the third quarter of 2006 (35 days). Partially offsetting the increased generation due to the lower number of refueling outage days was a higher number of non-refueling outage days, 13 days in the third quarter of 2007 versus 4 days in 2006.

• Fossil and Hydro Operations: Generation’s fossil fleet commercial availability was 91.6 percent in the third quarter of 2007, compared with 92.8 percent in the third quarter of 2006. The equivalent availability factor for the hydro facilities was 90.2 percent in the third quarter of 2007, compared with 88.9 percent in the third quarter of 2006, primarily due to a planned maintenance outage at the Muddy Run Pumped Storage Facility in 2006. Despite the higher hydro fleet equivalent availability factor in 2007, lower river flow actually resulted in lower generation during 2007 compared to 2006.

• Reliability Pricing Model (RPM) Auction: In December 2006, the Federal Energy Regulatory Commission (FERC) approved a new RPM capacity market for PJM. RPM is designed to procure capacity on a three-year forward basis and compensate those capacity resources based on the locational need for that capacity. Earlier this month, PJM conducted the last of three auctions to be held in 2007 under this new market design. The first auction was held in April to procure

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capacity for the period June 2007 through May 2008, and the second was conducted in July to procure capacity for the period June 2008 through May 2009. Exelon’s generation located within the PJM footprint was bid into the auctions. The payments based on the locational clearing prices that will be received as a result of the auctions may be offset by forward sales and bilateral contracts made against Generation’s generating portfolio prior to the auctions. The results of the most recent RPM auction, for capacity during the June 1, 2009 to May 31, 2010 time period, and of the previous auctions are as follows:

($ per MW-day)	June 2007 – May 2008		June 2008 – May 2009		June 2009 – May 2010
Eastern Mid-Atlantic Area Council (MAAC)	$	197.67	$	148.80	$	191.32
Southwest MAAC	$	188.54	$	210.11	$	237.33
MAAC + APS		N/A		N/A	$	191.32
Rest of Market	$	40.80	$	111.92	$	102.04

The last of these transitional auctions will occur in January 2008 for the period June 2010 to May 2011. Subsequent auctions will take place 36 months ahead of the scheduled delivery year.

• State Line Power Purchase Agreement (PPA): On October 15, 2007, Generation entered into an agreement with State Line, an indirect wholly owned subsidiary of Dominion Resources Inc., to terminate the PPA dated as of April 17, 1996 between State Line and Generation relating to the State Line coal-fired generating facility in Hammond, Indiana. Under the PPA, Generation controls 515 MW of electric energy and capacity from the State Line facility. The termination agreement, which FERC approved on October 18, 2007, is subject to a number of conditions. If the agreement becomes effective, State Line will pay Generation approximately $233 million, and Generation will recognize income of approximately $130 million (after tax) in the fourth quarter of 2007, for termination of the PPA, the purchase of coal inventories on hand and in transit and other assets. A negative net income impact to Generation of approximately $0.05 per share each year is expected beginning in 2008 through the end of the original contract term in 2012. The PPA is a non-strategic asset in Generation’s portfolio, and termination will provide immediate positive cash flow in 2007.

• ComEd Distribution Rate Case: On October 17, 2007, ComEd filed a proposal with the ICC seeking approval to increase its delivery service rates by $361.3 million (or approximately $358.9 million adjusted for normal weather) to reflect ComEd’s continued substantial investment in its delivery system. The rate case filing is based on a 2006 test year. If approved by the ICC, the total increase would raise the average ComEd residential customer bill about 7.7 percent. The ICC proceedings will take place over a period of up to eleven months.

• ComEd Transmission Rate Case: On March 1, 2007, ComEd filed a request with FERC, seeking approval to increase its annual revenue requirement for transmission services by $146 million and to implement a formula-based transmission rate. On June 5, 2007, FERC conditionally allowed ComEd to implement its formula-based transmission rate and associated rate adjustment, effective May 1, 2007 subject to refund, and provided for further hearing and settlement discussions. The new rate increased the annual revenue requirement by $116 million and raised the average residential customer bill by approximately 1 percent.

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On October 5, 2007, ComEd made a filing with the FERC seeking approval of a settlement agreement reached among ComEd, the FERC Trial Staff and the active interveners in the proceeding. The settlement agreement is a comprehensive resolution of all issues in the proceeding, other than ComEd’s pending request for rehearing at FERC on incentive returns on investments for two transmission projects. The formula-based rate will be updated annually to assure that customers pay the actual costs of transmission services for each year. The agreement provides for a base return on equity on transmission rate base of 11.0 percent plus an adder of 0.50 percent in recognition of ComEd’s participation in a regional transmission organization, a cap of 58 percent on the equity component of ComEd’s capital structure (declining to 55 percent by 2011), and a debt-only return of 6.51 percent on ComEd’s pension asset. The agreement would result in an initial increase in the annual revenue requirement of $93 million, or a $24 million reduction from the revenue requirement conditionally approved by the FERC in its June 2007 order, effective as of May 1, 2007. The reduction in the revenue requirement would be implemented following FERC approval of the settlement agreement. The timing of a FERC ruling is uncertain. Customer refunds will be required upon FERC approval, but are not expected to impact ComEd’s net income due to previously recorded reserves for refunds.

• ComEd Competitive Filing: On October 11, 2007, the ICC approved ComEd’s request that the ICC declare all of its approximately 18,000 medium-sized nonresidential customers with peak demand between 100 to 400 kW competitive. The request was part of the recent Settlement Legislation. More than 50% of these customers already have chosen alternative energy suppliers. All of ComEd’s large commercial customers with peak demand of 400 kW or more were declared competitive in August with the passage of the Settlement Legislation. More than 85 percent of customers in this group already are choosing alternative suppliers. ComEd’s provider of last resort (POLR) obligation, after a transition period, will consist only of those customers with demand of less than 100 kW.

• Pennsylvania Energy Independence Plan and Legislative Update: A special session of the Pennsylvania General Assembly was convened on September 17, 2007 to consider, among other things, elements of energy legislation previously proposed by Pennsylvania’s Governor. The proposed legislation includes such measures as a phase-in of increased generation rates after expiration of rate caps, installation of metering technology to provide time-of-use rates to retail customers, permission for distribution companies to enter into long-term contracts with large industrial customers, and creation of a fee on electric consumption that would help fund an $850 million Energy Independence Fund designed to spur biofuels development and promote energy efficiency and renewable energy initiatives. The Governor’s proposed legislation also includes a requirement for default suppliers such as PECO to procure electricity for their default-service customers after the end of their electric restructuring period (post-2010 for PECO) through a least-cost portfolio approach, with preferences for conservation and renewable power, and permits distribution companies to enter into long-term procurement contracts to enable construction of new generation. As of October 26, 2007, none of these measures has been enacted. PECO supports the development of a legislative package to help customers manage rising energy prices and increase the use of environmentally friendly alternative fuel sources to meet Pennsylvania’s growing energy needs. Other measures suggested by elected officials in Pennsylvania have included an extension of Pennsylvania’s rate cap period and a generation tax.

• Credit Rating Actions: On August 29, 2007, all three rating agencies announced rating actions after the Illinois Governor signed the Settlement Legislation:

• Fitch Ratings removed ComEd’s ratings from Ratings Watch Positive and upgraded ComEd’s senior unsecured debt ratings to “BBB-” from “BB+”. ComEd’s outlook is stable.

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• Moody’s Investors Service (Moody’s) removed ComEd’s ratings from Review for Possible Downgrade and affirmed its ratings. ComEd’s outlook is stable. Moody’s also placed Exelon’s and Generation’s ratings under Review for Possible Upgrade.

• Standard and Poor’s Corporation (S&P) removed Exelon’s and its subsidiaries’ ratings from CreditWatch with Negative Implications and affirmed their ratings. ComEd’s rating outlook is positive, while Exelon’s, Generation’s and PECO’s outlooks are stable.

On September 6, 2007, S&P upgraded ComEd’s and PECO’s senior secured debt ratings following a revision of its rating methodology for senior secured debt. ComEd’s senior secured debt rating was upgraded to “BBB” from “BBB-”, and PECO’s senior secured debt rating was upgraded to “A” from “A-”.

On September 21, 2007, Moody’s removed Exelon’s and Generation’s ratings from Review for Possible Upgrade. Exelon’s issuer and senior unsecured debt ratings were upgraded to “Baa1” from “Baa2”, and Generation’s issuer and senior unsecured debt ratings were upgraded to “A3” from “Baa1”. The rating actions reflect the anticipated strong future financial credit metrics at Exelon and Generation driven by robust cash flows expected at Generation. Exelon’s and Generation’s outlooks are stable.

• Financing Activities: On September 10, 2007, ComEd issued $425 million of 6.15 percent First Mortgage Bonds due 2017. The proceeds of the bonds were used to repay borrowings made by ComEd under its revolving credit facility. On October 3, 2007, ComEd entered into an unsecured revolving credit facility of $1 billion, which replaced an existing secured facility. The new credit facility has an initial term expiring on February 16, 2011. Under the credit facility, ComEd may request up to two one-year extensions of that term. ComEd may also request increases in the aggregate bank commitments up to an additional $500 million.

On September 24, 2007, Exelon, Generation and PECO received consent from nearly all of their lenders to extend the term of their credit agreements by one year. The extension took effect on October 26, 2007 and extended the termination date of the credit agreements to October 26, 2012.

On September 28, 2007, Generation issued $700 million of 6.20 percent Senior Notes due 2017. The proceeds were used to refinance commercial paper and for general corporate purposes.

OPERATING COMPANY RESULTS

Exelon Generation consists of Exelon’s electric generation operations, power marketing and trading functions, and competitive retail sales.

Third quarter 2007 net income was $548 million compared with $394 million in the third quarter of 2006. Third quarter 2007 net income included (all after tax) a charge of $77 million for the costs associated with the Illinois electric rate settlement, income of $18 million resulting from decreases in decommissioning obligations primarily related to the AmerGen nuclear plants and a charge of $1 million

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related to Generation’s prior investment in Sithe, which is reflected as discontinued operations. Third quarter 2006 net income included (all after tax) mark-to-market gains of $56 million from economic hedging activities, severance charges of $6 million, certain integration costs of $2 million associated with the terminated merger with PSEG and income of $1 million related to Generation’s prior investment in Sithe, which is reflected as discontinued operations. Excluding the impact of these items, Generation’s net income in the third quarter of 2007 increased $263 million compared with the same quarter last year, primarily due to higher revenue, net of purchased power and fuel expense, more than offsetting inflationary cost pressures.

Generation’s revenue, net of purchased power and fuel expense, increased by $413 million in the third quarter of 2007 compared with the third quarter of 2006 excluding the mark-to-market impacts and costs associated with the Illinois electric rate settlement. The increase in revenue, net of purchased power and fuel expense, was driven by higher average margins primarily due to the end of the below-market price PPA with ComEd at year-end 2006, the contractual increase in the prices associated with Generation’s PPA with PECO, and higher nuclear output reflecting fewer refueling outage days. Generation’s average realized margin on all electric sales, including sales to affiliates and excluding trading activity, was $32.60 per MWh in the third quarter of 2007 compared with $22.09 per MWh in the third quarter of 2006. Generation’s operating and maintenance expenses increased slightly as inflationary and cost pressures were partially offset by lower nuclear refueling outage costs.

ComEd consists of the electricity transmission and distribution operations in northern Illinois.

ComEd recorded net income of $65 million in the third quarter of 2007, compared with a net loss of $506 million in the third quarter of 2006. Third quarter 2007 net income included (both after tax) a charge of $3 million for the costs associated with the Illinois electric rate settlement, including ComEd’s previously announced customer rate relief programs, and mark-to-market gains of $1 million. The third quarter 2006 net loss included (all after tax) a non-cash charge of $776 million related to the impairment of ComEd’s goodwill, a one-time benefit of $52 million approved by the ICC’s July 26, 2006 rate order to recover previously incurred losses on the extinguishment of debt as part of ComEd’s 2004 Accelerated Liability Management Plan, severance charges of $5 million, mark-to-market gains of $1 million and certain integration costs of $1 million associated with the terminated merger with PSEG. Excluding the impact of these items, ComEd’s net income in the third quarter of 2007 decreased $156 million compared with the same quarter last year, primarily due to the end of its regulatory transition period and associated transition revenues, the end of its below-market price PPA with Generation in 2006 and higher operating and maintenance expense partially due to increased incremental storm costs. These items were partially offset by the effects of warmer weather, the FERC-approved transmission rate increase, and an ICC-authorized increase in delivery service rates.

In the ComEd service territory in the third quarter of 2007, cooling degree-days were up 5 percent relative to the same period in 2006 and were 24 percent above normal. ComEd’s total retail kWh deliveries increased 2 percent in 2007 as compared with 2006, with a 4 percent increase in deliveries to the residential customer class, largely due to warmer weather. ComEd’s third quarter 2007 revenues were $1,758 million, down 4 percent from $1,840 million in 2006 primarily due to customers switching to alternative electric generation suppliers. For ComEd, weather had a favorable after-tax impact of $4 million on third quarter 2007 earnings relative to 2006 and had a favorable after-tax impact of $13 million relative to normal weather, which was incorporated in earnings guidance.

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The number of customers being served in the ComEd region increased by 1.2 percent since the third quarter of 2006, and weather-normalized kWh retail deliveries increased by 1.7 percent compared with the third quarter of 2006.

PECO consists of the electricity transmission and distribution operations and the retail natural gas distribution business in southeastern Pennsylvania.

PECO’s net income in the third quarter of 2007 was $168 million, an increase from net income of $134 million in the third quarter of 2006. Third quarter 2006 net income included (all after tax) severance charges of $3 million, and certain integration costs of $3 million associated with the terminated merger with PSEG. Excluding the impact of these items, PECO’s net income in the third quarter of 2007 increased $28 million compared with the same quarter last year, primarily due to higher revenues net of purchased power and fuel expense and lower storm costs, partially offset by higher CTC amortization. The increase in CTC amortization expense is in accordance with PECO’s 1998 restructuring settlement with the Pennsylvania Public Utility Commission. Additionally, PECO recognized $22 million of income (after tax) as a result of a determination that a portion of the liability related to previously contested tax assessments under the Pennsylvania Public Utility Realty Tax Act was no longer necessary.

In the PECO service territory in the third quarter of 2007, cooling degree-days were up 4 percent from 2006 and were 12 percent above normal. PECO’s total electric retail kWh deliveries increased 2 percent, with residential deliveries up 3 percent. Total gas retail deliveries were up 11 percent from the 2006 period. PECO’s third quarter 2007 revenues were $1,459 million, up from $1,379 million in 2006, primarily due to the effects of an authorized electric generation rate increase under the 1998 restructuring settlement and increased electric volumes due to increased usage across all customer classes. For PECO, weather had no impact on third quarter 2007 earnings relative to 2006 and a favorable after-tax impact of $6 million relative to normal weather, which was incorporated in earnings guidance.

The number of electric customers being served in the PECO region increased by 0.2 percent since the third quarter of 2006, with weather-normalized kWh growth of 2.5 percent compared with the third quarter of 2006.

Adjusted (non-GAAP) Operating Earnings

Adjusted (non-GAAP) operating earnings, which generally exclude significant one-time charges or credits that are not normally associated with ongoing operations and mark-to-market adjustments from economic hedging activities, are provided as a supplement to results reported in accordance with GAAP. Management uses such adjusted (non-GAAP) operating earnings measures internally to evaluate the company’s performance and manage its operations. Reconciliations of GAAP to adjusted (non-GAAP) operating earnings for historical periods are attached. Additional earnings release attachments, which include the reconciliations on pages 7 and 8, are posted on Exelon’s Web site: www.exeloncorp.com and have been filed with the Securities and Exchange Commission on Form 8-K on October 26, 2007.

Conference call information: Exelon has scheduled a conference call for 11 AM ET (10 AM CT) on October 26, 2007. The call-in number in the U.S. is 800-690-3108, and the international call-in number is 973-935-8753. No password is required. Media representatives are invited to participate on a listen-only basis. The call will be web-cast and archived on Exelon’s Web site: www.exeloncorp.com. (Please select the Investor Relations page.)

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Telephone replays will be available until November 9. The U.S. call-in number for replays is 877-519-4471, and the international call-in number is 973-341-3080. The confirmation code is 9302966.

This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from these forward-looking statements include those discussed herein as well as those discussed in (1) Exelon’s 2006 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 18; (2) Exelon’s Third Quarter 2007 Quarterly Report on Form 10-Q (to be filed on October 26, 2007) in (a) Part II, Other Information, ITEM 1A. Risk Factors and (b) Part I, Financial Information, ITEM 1. Financial Statements: Note 13; and (3) other factors discussed in filings with the Securities and Exchange Commission (SEC) by Exelon Corporation, Commonwealth Edison Company, PECO Energy Company and Exelon Generation Company, LLC (Companies). Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. None of the Companies undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this news release.

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Exelon Corporation is one of the nation’s largest electric utilities with approximately 5.4 million customers and more than $15 billion in annual revenues. The company has one of the industry’s largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in Illinois and Pennsylvania and natural gas to more than 480,000 customers in southeastern Pennsylvania. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.

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EXELON CORPORATION

Earnings Release Attachments

Table of Contents

Consolidating Statements of Operations - Three Months Ended September 30, 2007 and 2006	1
Consolidating Statements of Operations - Nine Months Ended September 30, 2007 and 2006	2
Business Segment Comparative Statements of Operations - Generation and ComEd - Three and Nine Months Ended September 30, 2007 and 2006	3
Business Segment Comparative Statements of Operations - PECO and Other - Three and Nine Months Ended September 30, 2007 and 2006	4
Consolidated Balance Sheets - September 30, 2007 and December 31, 2006	5
Consolidated Statements of Cash Flows - Nine Months Ended September 30, 2007 and 2006	6
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Consolidated Statements of Operations - Exelon - Three Months Ended September 30, 2007 and 2006	7
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Consolidated Statements of Operations - Exelon - Nine Months Ended September 30, 2007 and 2006	8
Reconciliation of Adjusted (non-GAAP) Operating Earnings Per Diluted Share to GAAP Earnings Per Diluted Share - Three Months Ended September 30, 2007 and 2006	9
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Earnings By Business Segment - Three Months Ended September 30, 2007 and 2006	10
Reconciliation of Adjusted (non-GAAP) Operating Earnings Per Diluted Share to GAAP Earnings Per Diluted Share - Nine Months Ended September 30, 2007 and 2006	11
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Earnings By Business Segment - Nine Months Ended September 30, 2007 and 2006	12
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Consolidated Statements of Operations - Generation - Three and Nine Months Ended September 30, 2007 and 2006	13
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Consolidated Statements of Operations - ComEd - Three and Nine Months Ended September 30, 2007 and 2006	14
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Consolidated Statements of Operations - PECO - Three and Nine Months Ended September 30, 2007 and 2006	15
Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Consolidated Statements of Operations - Other - Three and Nine Months Ended September 30, 2007 and 2006	16
Exelon Generation Statistics - Three Months Ended September 30, 2007, June 30, 2007, March 31, 2007, December 31, 2006 and September 30, 2006	17
Exelon Generation Statistics - Nine Months Ended September 30, 2007 and 2006	18
ComEd Sales Statistics - Three Months Ended September 30, 2007 and 2006	19
ComEd Sales Statistics - Nine Months Ended September 30, 2007 and 2006	20
PECO Sales Statistics - Three Months Ended September 30, 2007 and 2006	21
PECO Sales Statistics - Nine Months Ended September 30, 2007 and 2006	22

EXELON CORPORATION

Consolidating Statements of Operations

(unaudited)

(in millions)

	Three Months Ended September 30, 2007
	Generation			ComEd			PECO			Other			Exelon Consolidated
Operating revenues	$	2,837		$	1,758		$	1,459		$	(1,022	)	$	5,032
Operating expenses
Purchased power		808			1,100			683			(1,023	)		1,568
Fuel		467			—			37			(1	)		503
Operating and maintenance		544			268			152			30			994
Depreciation and amortization		66			110			221			11			408
Taxes other than income		47			87			70			4			208
Total operating expenses		1,932			1,565			1,163			(979	)		3,681
Operating income (loss)		905			193			296			(43	)		1,351
Other income and deductions
Interest expense, net		(35	)		(90	)		(61	)		(25	)		(211	)
Equity in losses of unconsolidated affiliates and investments		—			(2	)		(1	)		(17	)		(20	)
Other, net		15			4			25			74			118
Total other income and deductions		(20	)		(88	)		(37	)		32			(113	)
Income (loss) from continuing operations before income taxes		885			105			259			(11	)		1,238
Income taxes		336			40			91			(8	)		459
Income (loss) from continuing operations		549			65			168			(3	)		779
Income (loss) from discontinued operations		(1	)		—			—			2			1
Net income (loss)	$	548		$	65		$	168		$	(1	)	$	780

	Three Months Ended September 30, 2006
	Generation			ComEd			PECO			Other			Exelon Consolidated
Operating revenues	$	2,635		$	1,840		$	1,379		$	(1,453	)	$	4,401
Operating expenses
Purchased power		826			994			624			(1,448	)		996
Fuel		447			—			42			—			489
Operating and maintenance		574			210			191			109			1,084
Impairment of goodwill		—			776			—			—			776
Depreciation and amortization		71			115			204			10			400
Taxes other than income		49			83			81			5			218
Total operating expenses		1,967			2,178			1,142			(1,324	)		3,963
Operating income (loss)		668			(338	)		237			(129	)		438
Other income and deductions
Interest expense, net		(38	)		(78	)		(66	)		(36	)		(218	)
Equity in losses of unconsolidated affiliates and investments		(5	)		(2	)		(2	)		(4	)		(13	)
Other, net		12			89			11			2			114
Total other income and deductions		(31	)		9			(57	)		(38	)		(117	)
Income (loss) from continuing operations before income taxes		637			(329	)		180			(167	)		321
Income taxes		244			177			46			(101	)		366
Income (loss) from continuing operations		393			(506	)		134			(66	)		(45	)
Income from discontinued operations		1			—			—			—			1
Net income (loss)	$	394		$	(506	)	$	134		$	(66	)	$	(44	)

1

EXELON CORPORATION

Consolidating Statements of Operations

(unaudited)

(in millions)

	Nine Months Ended September 30, 2007
	Generation			ComEd			PECO			Other			Exelon Consolidated
Operating revenues	$	8,181		$	4,668		$	4,228		$	(2,715	)	$	14,362
Operating expenses
Purchased power		1,939			2,906			1,796			(2,710	)		3,931
Fuel		1,374			—			422			(1	)		1,795
Operating and maintenance		1,801			778			446			89			3,114
Depreciation and amortization		199			327			591			29			1,146
Taxes other than income		135			243			212			13			603
Total operating expenses		5,448			4,254			3,467			(2,580	)		10,589
Operating income (loss)		2,733			414			761			(135	)		3,773
Other income and deductions
Interest expense, net		(100	)		(259	)		(188	)		(91	)		(638	)
Equity in earnings (losses) of unconsolidated affiliates and investments		2			(6	)		(5	)		(80	)		(89	)
Other, net		68			10			36			110			224
Total other income and deductions		(30	)		(255	)		(157	)		(61	)		(503	)
Income (loss) from continuing operations before income taxes		2,703			159			604			(196	)		3,270
Income taxes		1,021			61			212			(187	)		1,107
Income (loss) from continuing operations		1,682			98			392			(9	)		2,163
Income from discontinued operations		4			—			—			6			10
Net income (loss)	$	1,686		$	98		$	392		$	(3	)	$	2,173
	Nine Months Ended September 30, 2006
	Generation			ComEd			PECO			Other			Exelon Consolidated
Operating revenues	$	7,069		$	4,720		$	3,933		$	(3,762	)	$	11,960
Operating expenses
Purchased power		1,607			2,623			1,611			(3,749	)		2,092
Fuel		1,484			—			445			(1	)		1,928
Operating and maintenance		1,682			644			479			184			2,989
Impairment of goodwill		—			776			—			—			776
Depreciation and amortization		210			320			547			58			1,135
Taxes other than income		133			234			198			17			582
Total operating expenses		5,116			4,597			3,280			(3,491	)		9,502
Operating income (loss)		1,953			123			653			(271	)		2,458
Other income and deductions
Interest expense, net		(120	)		(230	)		(202	)		(111	)		(663	)
Equity in losses of unconsolidated affiliates and investments		(9	)		(8	)		(7	)		(50	)		(74	)
Other, net		31			90			16			68			205
Total other income and deductions		(98	)		(148	)		(193	)		(93	)		(532	)
Income (loss) from continuing operations before income taxes		1,855			(25	)		460			(364	)		1,926
Income taxes		696			300			140			(207	)		929
Income (loss) from continuing operations		1,159			(325	)		320			(157	)		997
Income (loss) from discontinued operations		4			—			—			(1	)		3
Net income (loss)	$	1,163		$	(325	)	$	320		$	(158	)	$	1,000

2

EXELON CORPORATION

Business Segment Comparative Statements of Operations

(unaudited)

(in millions)

	Generation
	Three Months Ended September 30,									Nine Months Ended September 30,
	2007			2006			Variance			2007			2006			Variance
Operating revenues	$	2,837		$	2,635		$	202		$	8,181		$	7,069		$	1,112
Operating expenses
Purchased power		808			826			(18	)		1,939			1,607			332
Fuel		467			447			20			1,374			1,484			(110	)
Operating and maintenance		544			574			(30	)		1,801			1,682			119
Depreciation and amortization		66			71			(5	)		199			210			(11	)
Taxes other than income		47			49			(2	)		135			133			2
Total operating expenses		1,932			1,967			(35	)		5,448			5,116			332
Operating income		905			668			237			2,733			1,953			780
Other income and deductions
Interest expense, net		(35	)		(38	)		3			(100	)		(120	)		20
Equity in earnings (losses) of investments		—			(5	)		5			2			(9	)		11
Other, net		15			12			3			68			31			37
Total other income and deductions		(20	)		(31	)		11			(30	)		(98	)		68
Income from continuing operations before income taxes		885			637			248			2,703			1,855			848
Income taxes		336			244			92			1,021			696			325
Income from continuing operations		549			393			156			1,682			1,159			523
Income (loss) from discontinued operations		(1	)		1			(2	)		4			4			—
Net income	$	548		$	394		$	154		$	1,686		$	1,163		$	523
	ComEd
	Three Months Ended September 30,									Nine Months Ended September 30,
	2007			2006			Variance			2007			2006			Variance
Operating revenues	$	1,758		$	1,840		$	(82	)	$	4,668		$	4,720		$	(52	)
Operating expenses
Purchased power		1,100			994			106			2,906			2,623			283
Operating and maintenance		268			210			58			778			644			134
Impairment of goodwill		—			776			(776	)		—			776			(776	)
Depreciation and amortization		110			115			(5	)		327			320			7
Taxes other than income		87			83			4			243			234			9
Total operating expenses		1,565			2,178			(613	)		4,254			4,597			(343	)
Operating income (loss)		193			(338	)		531			414			123			291
Other income and deductions
Interest expense, net		(90	)		(78	)		(12	)		(259	)		(230	)		(29	)
Equity in losses of unconsolidated affiliates		(2	)		(2	)		—			(6	)		(8	)		2
Other, net		4			89			(85	)		10			90			(80	)
Total other income and deductions		(88	)		9			(97	)		(255	)		(148	)		(107	)
Income (loss) from continuing operations before income taxes		105			(329	)		434			159			(25	)		184
Income taxes		40			177			(137	)		61			300			(239	)
Net income (loss)	$	65		$	(506	)	$	571		$	98		$	(325	)	$	423

3

EXELON CORPORATION

Business Segment Comparative Statements of Operations

(unaudited)

(in millions)

	PECO
	Three Months Ended September 30,									Nine Months Ended September 30,
	2007			2006			Variance			2007			2006			Variance
Operating revenues	$	1,459		$	1,379		$	80		$	4,228		$	3,933		$	295
Operating expenses
Purchased power		683			624			59			1,796			1,611			185
Fuel		37			42			(5	)		422			445			(23	)
Operating and maintenance		152			191			(39	)		446			479			(33	)
Depreciation and amortization		221			204			17			591			547			44
Taxes other than income		70			81			(11	)		212			198			14
Total operating expenses		1,163			1,142			21			3,467			3,280			187
Operating income		296			237			59			761			653			108
Other income and deductions
Interest expense, net		(61	)		(66	)		5			(188	)		(202	)		14
Equity in losses of unconsolidated affiliates		(1	)		(2	)		1			(5	)		(7	)		2
Other, net		25			11			14			36			16			20
Total other income and deductions		(37	)		(57	)		20			(157	)		(193	)		36
Income from continuing operations before income taxes		259			180			79			604			460			144
Income taxes		91			46			45			212			140			72
Net income	$	168		$	134		$	34		$	392		$	320		$	72
	Other (a)
	Three Months Ended September 30,									Nine Months Ended September 30,
	2007			2006			Variance			2007			2006			Variance
Operating revenues	$	(1,022	)	$	(1,453	)	$	431		$	(2,715	)	$	(3,762	)	$	1,047
Operating expenses
Purchased power		(1,023	)		(1,448	)		425			(2,710	)		(3,749	)		1,039
Fuel		(1	)		—			(1	)		(1	)		(1	)		—
Operating and maintenance		30			109			(79	)		89			184			(95	)
Depreciation and amortization		11			10			1			29			58			(29	)
Taxes other than income		4			5			(1	)		13			17			(4	)
Total operating expenses		(979	)		(1,324	)		345			(2,580	)		(3,491	)		911
Operating loss		(43	)		(129	)		86			(135	)		(271	)		136
Other income and deductions
Interest expense, net		(25	)		(36	)		11			(91	)		(111	)		20
Equity in losses of unconsolidated affiliates and investments		(17	)		(4	)		(13	)		(80	)		(50	)		(30	)
Other, net		74			2			72			110			68			42
Total other income and deductions		32			(38	)		70			(61	)		(93	)		32
Loss from continuing operations before income taxes		(11	)		(167	)		156			(196	)		(364	)		168
Income taxes		(8	)		(101	)		93			(187	)		(207	)		20
Loss from continuing operations		(3	)		(66	)		63			(9	)		(157	)		148
Income (loss) from discontinued operations		2			—			2			6			(1	)		7
Net loss	$	(1	)	$	(66	)	$	65		$	(3	)	$	(158	)	$	155

(a) Other includes eliminating and consolidating adjustments, Exelon's corporate operations, shared service entities, Exelon Enterprises Company, LLC and other financing and investment activities, including investments in synthetic fuel-producing facilities.

4

EXELON CORPORATION

Consolidated Balance Sheets

(unaudited)

(in millions)

	September 30, 2007			December 31, 2006
Current assets
Cash and cash equivalents	$	440		$	224
Restricted cash and investments		74			58
Accounts receivable, net
Customer		2,077			1,747
Other		480			462
Mark-to-market derivative assets		709			1,418
Inventories, at average cost
Fossil fuel		279			300
Materials and supplies		452			431
Other		682			352
Total current assets		5,193			4,992
Property, plant and equipment, net		23,652			22,775
Deferred debits and other assets
Regulatory assets		5,238			5,808
Nuclear decommissioning trust funds		6,918			6,415
Investments		737			810
Goodwill		2,641			2,694
Mark-to-market derivative assets		232			171
Other		1,108			654
Total deferred debits and other assets		16,874			16,552
Total assets	$	45,719		$	44,319
Liabilities and shareholders' equity
Current liabilities
Short-term borrowings	$	485		$	305
Long-term debt due within one year		916			248
Long-term debt to ComEd Transitional Funding Trust and PECO Energy Transition Trust due within one year		595			581
Accounts payable		1,326			1,382
Mark-to-market derivative liabilities		649			1,015
Accrued expenses		1,060			1,180
Other		507			1,084
Total current liabilities		5,538			5,795
Long-term debt		9,596			8,896
Long-term debt to ComEd Transitional Funding Trust and PECO Energy Transition Trust		1,591			2,470
Long-term debt to other financing trusts		545			545
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits		5,403			5,340
Asset retirement obligations		3,775			3,780
Pension obligations		700			747
Non-pension postretirement benefits obligations		1,837			1,817
Spent nuclear fuel obligation		986			950
Regulatory liabilities		3,344			3,025
Mark-to-market derivative liabilities		309			78
Other		1,587			782
Total deferred credits and other liabilities		17,941			16,519
Total liabilities		35,211			34,225
Preferred securities of subsidiaries		87			87
Shareholders' equity
Common stock		8,498			8,314
Treasury stock, at cost		(1,838	)		(630	)
Retained earnings		4,989			3,426
Accumulated other comprehensive loss		(1,228	)		(1,103	)
Total shareholders' equity		10,421			10,007
Total liabilities and shareholders' equity	$	45,719		$	44,319

5

EXELON CORPORATION

Consolidated Statements of Cash Flows

(unaudited)

(in millions)

	Nine Months Ended September 30,
	2007			2006
Cash flows from operating activities
Net income	$	2,173		$	1,000
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization and accretion, including nuclear fuel		1,643			1,621
Deferred income taxes and amortization of investment tax credits		(33	)		(20	)
Net realized and unrealized mark-to-market transactions		97			(116	)
Impairment of long-lived assets		—			893
Other non-cash operating activities		521			164
Changes in assets and liabilities:
Accounts receivable		(475	)		172
Inventories		4			(23	)
Accounts payable, accrued expenses and other current liabilities		64			(307	)
Counterparty collateral asset		(135	)		236
Counterparty collateral liability		(255	)		159
Income taxes		209			64
Restricted cash		(19	)		—
Pension and non-pension postretirement benefit contributions		(66	)		(49	)
Other assets and liabilities		(215	)		(241	)
Net cash flows provided by operating activities		3,513			3,553
Cash flows from investing activities
Capital expenditures		(1,892	)		(1,752	)
Proceeds from nuclear decommissioning trust fund sales		3,733			3,584
Investment in nuclear decommissioning trust funds		(3,928	)		(3,808	)
Proceeds from sale of investments		95			2
Change in restricted cash		3			12
Other investing activities		(76	)		(72	)
Net cash flows used in investing activities		(2,065	)		(2,034	)
Cash flows from financing activities
Issuance of long-term debt		1,586			920
Retirement of long-term debt		(229	)		(64	)
Retirement of long-term debt to financing affiliates		(840	)		(691	)
Change in short-term debt		180			(837	)
Dividends paid on common stock		(889	)		(803	)
Proceeds from employee stock plans		182			149
Purchase of treasury stock		(1,208	)		(54	)
Purchase of forward contract in relation to certain treasury stock		(79	)		—
Other financing activities		65			—
Net cash flows used in financing activities		(1,232	)		(1,380	)
Increase in cash and cash equivalents		216			139
Cash and cash equivalents at beginning of period		224			140
Cash and cash equivalents at end of period	$	440		$	279

6

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Consolidated Statements of Operations

(unaudited)

(in millions, except per share data)

	Three Months Ended September 30, 2007									Three Months Ended September 30, 2006
	GAAP (a)			Adjustments			Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	5,032		$	125	(b),(c)	$	5,157		$	4,401		$	(2	) (c)	$	4,399
Operating expenses
Purchased power		1,568			(28	) (c)		1,540			996			54	(c)		1,050
Fuel		503			32	(c)		535			489			37	(c)		526
Operating and maintenance		994			(10	) (d),(e)		984			1,084			(143	) (d),(g),(h)		941
Impairment of goodwill		—			—			—			776			(776	) (i)		—
Depreciation and amortization		408			—			408			400			(2	) (g)		398
Taxes other than income		208			—			208			218			—			218
Total operating expenses		3,681			(6	)		3,675			3,963			(830	)		3,133
Operating income		1,351			131			1,482			438			828			1,266
Other income and deductions
Interest expense, net		(211	)		1	(d)		(210	)		(218	)		2	(d)		(216	)
Equity in losses of unconsolidated affiliates and investments		(20	)		17	(d)		(3	)		(13	)		4	(d)		(9	)
Other, net		118			(74	) (d)		44			114			(83	) (d),(j)		31
Total other income and deductions		(113	)		(56	)		(169	)		(117	)		(77	)		(194	)
Income from continuing operations before income taxes		1,238			75			1,313			321			751			1,072
Income taxes		459			33	(b),(c),(d),(e)		492			366			16	(c),(d),(g),(h),(j)		382
Income (loss) from continuing operations		779			42			821			(45	)		735			690
Income from discontinued operations		1			1	(f)		2			1			(1	) (f)		—
Net income (loss)	$	780		$	43		$	823		$	(44	)	$	734		$	690
Earnings (loss) per average common share
Basic:
Income (loss) from continuing operations	$	1.16		$	0.06		$	1.22		$	(0.07	)	$	1.10		$	1.03
Income (loss) from discontinued operations		—			—			—			—			—			—
Net income (loss)	$	1.16		$	0.06		$	1.22		$	(0.07	)	$	1.10		$	1.03
Diluted:
Income (loss) from continuing operations	$	1.15		$	0.06		$	1.21		$	(0.07	)	$	1.09		$	1.02
Income (loss) from discontinued operations		—			—			—			—			—			—
Net income (loss)	$	1.15		$	0.06		$	1.21		$	(0.07	)	$	1.09		$	1.02
Average common shares outstanding
Basic		673						673			671						671
Diluted		678						678			671						677
Effect of adjustments on earnings (loss) per average diluted common share recorded in accordance with GAAP:
2007 Illinois electric rate settlement (b)				$	0.12								$	—
Mark-to-market (c)					—									(0.08	)
Investments in synthetic fuel-producing facilities (d)					(0.03	)								0.02
Nuclear decommissioning obligation reduction (e)					(0.03	)								—
Charges associated with Exelon's now terminated merger with PSEG (g)					—									0.06
2006 severance charges (h)					—									0.02
2006 impairment of ComEd's goodwill (i)					—									1.15
Recovery of debt costs at ComEd (j)					—									(0.08	)
Total adjustments				$	0.06								$	1.09

(a) Results reported in accordance with accounting principles generally accepted in the United States (GAAP).

(b) Adjustment to exclude the impact of the 2007 Illinois electric rate settlement.

(c) Adjustment to exclude the mark-to-market impact of Exelon's economic hedging activities.

(d) Adjustment to exclude the financial impact of Exelon's investments in synthetic fuel-producing facilities, including the impact of mark-to-market gains (losses) associated with the related derivatives.

(e) Adjustment to exclude the decrease in Generation's nuclear decommissioning obligation liability primarily related to the AmerGen Energy Company, LLC (AmerGen) nuclear plants.

(f) Adjustment to exclude the settlement of separate tax matters at Generation related to Sithe Energies, Inc. (Sithe) in 2006 and 2007.

(g) Adjustment to exclude certain costs associated with Exelon's proposed merger with Public Service Enterprise Group Incorporated (PSEG), which was terminated in September 2006.

(h) Adjustment to exclude severance charges in 2006.

(i) Adjustment to exclude the impairment of ComEd's goodwill in 2006.

(j) Adjustment to exclude the one-time benefit to recover previously incurred debt costs approved by the July 2006 Illinois Commerce Commission (ICC) rate order.

7

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP Consolidated Statements of Operations

(unaudited)

(in millions, except per share data)

	Nine Months Ended September 30, 2007									Nine Months Ended September 30, 2006
	GAAP (a)			Adjustments			Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	14,362		$	144	(b),(c)	$	14,506		$	11,960		$	5	(c)	$	11,965
Operating expenses
Purchased power		3,931			(173	) (c)		3,758			2,092			141	(c)		2,233
Fuel		1,795			40	(c)		1,835			1,928			(14	) (c)		1,914
Operating and maintenance		3,114			(85	) (b),(d),(e)		3,029			2,989			(109	) (d),(e),(h),(i)		2,880
Impairment of goodwill		—			—			—			776			(776	) (j)		—
Depreciation and amortization		1,146			—			1,146			1,135			(37	) (d),(h)		1,098
Taxes other than income		603			—			603			582			—			582
Total operating expenses		10,589			(218	)		10,371			9,502			(795	)		8,707
Operating income		3,773			362			4,135			2,458			800			3,258
Other income and deductions
Interest expense, net		(638	)		3	(d)		(635	)		(663	)		14	(d),(g)		(649	)
Equity in losses of unconsolidated affiliates and investments		(89	)		80	(d)		(9	)		(74	)		50	(d)		(24	)
Other, net		224			(120	) (d),(f)		104			205			(132	) (d),(h),(k)		73
Total other income and deductions		(503	)		(37	)		(540	)		(532	)		(68	)		(600	)
Income from continuing operations before income taxes		3,270			325			3,595			1,926			732			2,658
Income taxes		1,107			247	(b),(c),(d),(e),(f)		1,354			929			41	(c),(d),(e),(g),(h),(i),(k)		970
Income from continuing operations		2,163			78			2,241			997			691			1,688
Income (loss) from discontinued operations		10			(5	) (g)		5			3			(4	) (g)		(1	)
Net income	$	2,173		$	73		$	2,246		$	1,000		$	687		$	1,687
Earnings per average common share
Basic:
Income from continuing operations	$	3.21		$	0.12		$	3.33		$	1.49		$	1.03		$	2.52
Income from discontinued operations		0.02			(0.01	)		0.01			—			—			—
Net income	$	3.23		$	0.11		$	3.34		$	1.49		$	1.03		$	2.52
Diluted:
Income from continuing operations	$	3.18		$	0.12		$	3.30		$	1.48		$	1.02		$	2.50
Income from discontinued operations		0.02			(0.01	)		0.01			—			—			—
Net income	$	3.20		$	0.11		$	3.31		$	1.48		$	1.02		$	2.50
Average common shares outstanding
Basic		673						673			670						670
Diluted		679						679			676						676
Effect of adjustments on earnings per average diluted common share recorded in accordance with GAAP:
2007 Illinois electric rate settlement (b)				$	0.14								$	—
Mark-to-market (c)					0.12									(0.11	)
Investments in synthetic fuel-producing facilities (d)					(0.10	)								0.08
Nuclear decommissioning obligation reduction (e)					(0.03	)								(0.13	)
Sale of Generation's investments in TEG and TEP (f)					(0.01	)								—
Settlement of a tax matter at Generation related to Sithe (g)					(0.01	)								—
Charges associated with Exelon's now terminated merger with PSEG (h)					—									0.09
2006 severance charges (i)					—									0.02
2006 impairment of ComEd's goodwill (j)					—									1.15
Recovery of debt costs at ComEd (k)					—									(0.08	)
Total adjustments				$	0.11								$	1.02

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude the impact of the 2007 Illinois electric rate settlement.

(c) Adjustment to exclude the mark-to-market impact of Exelon's economic hedging activities.

(d) Adjustment to exclude the financial impact of Exelon's investments in synthetic fuel-producing facilities, including the impact of mark-to-market gains (losses) associated with the related derivatives.

(e) Adjustment to exclude the decrease in Generation's nuclear decommissioning obligation liability primarily related to the AmerGen nuclear plants.

(f) Adjustment to exclude the gain related to the sale of Generation's ownership interest in Termoeléctrica del Golfo (TEG) and Termoeléctrica Peñoles (TEP).

(g) Adjustment to exclude the settlement of separate tax matters at Generation related to Sithe in 2006 and 2007.

(h) Adjustment to exclude certain costs associated with Exelon's proposed merger with PSEG, which was terminated in September 2006.

(i) Adjustment to exclude severance charges in 2006.

(j) Adjustment to exclude the impairment of ComEd's goodwill in 2006.

(k) Adjustment to exclude the one-time benefit to recover previously incurred debt costs approved by the July 2006 ICC rate order.

8

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings

Per Diluted Share to GAAP Earnings Per Diluted Share

Three Months Ended September 30, 2007 and 2006

2006 GAAP Loss per Diluted Share	$	(0.07	)
2006 Adjusted (non-GAAP) Operating Earnings Adjustments:
Mark-to-Market (1)		(0.08	)
Investments in Synthetic Fuel-Producing Facilities (2)		0.02
Charges Associated with Exelon's Now Terminated Merger with PSEG (3)		0.06
2006 Severance Charges (4)		0.02
Impairment of ComEd's Goodwill (5)		1.15
Recovery of Debt Costs at ComEd (6)		(0.08	)
2006 Adjusted (non-GAAP) Operating Earnings		1.02
Year Over Year Effects on Earnings:
Generation Energy Margins, Excluding Mark-to-Market (7)		0.41
ComEd Energy Margins:
Weather (8)		0.01
End of Regulatory Transition Period (9)		(0.24	)
Other Energy Delivery (10)		0.07
PECO Energy Margins:
Other Energy Delivery (11)		0.03
Pension and Non-Pension Postretirement Benefits Expense (12)		(0.01	)
Labor and Contracting (13)		(0.05	)
Planned Nuclear Refueling Outages (14)		0.02
Storm Costs (15)		0.01
Recovery of Environmental Costs at ComEd (16)		(0.04	)
Depreciation and Amortization (17)		(0.01	)
Reduction of a Liability Related to Property Taxes (18)		0.03
Income Taxes (19)		(0.04	)
2007 Adjusted (non-GAAP) Operating Earnings		1.21
2007 Adjusted (non-GAAP) Operating Earnings Adjustments:
Investments in Synthetic Fuel-Producing Facilities (2)		0.03
2007 Illinois Electric Rate Settlement (20)		(0.12	)
Nuclear Decommissioning Obligation Reduction (21)		0.03
2007 GAAP Earnings per Diluted Share	$	1.15

(1) Reflects the mark-to-market impact of Exelon's economic hedging activities.

(2) Reflects the financial impact of Exelon's investments in synthetic fuel-producing facilities, including the impact of mark-to-market gains (losses) associated with the related derivatives.

(3) Reflects certain costs incurred in connection with Exelon's proposed merger with PSEG, which was terminated in September 2006.

(4) Reflects severance charges in 2006.

(5) Reflects impairment of ComEd's goodwill in 2006.

(6) Reflects a one-time benefit approved by the July 2006 ICC rate order to recover previously incurred debt expenses to retire debt early.

(7) Reflects higher average margins primarily due to the end of the below-market power purchase agreement (PPA) with ComEd at year-end 2006 and the contractual increase in prices associated with Generation's PPA with PECO.

(8) Reflects a favorable variance for weather conditions in the ComEd service territory.

(9) Reflects reduced earnings at ComEd primarily due to the end of ComEd's regulatory transition period and associated revenues.

(10) Reflects increased pricing for delivery service at ComEd as a result of the 2006 ICC rate order and increased transmission revenue as a result of the 2007 transmission rate case.

(11) Reflects increased revenues at PECO primarily due to higher electric delivery volume (excluding the impact of weather).

(12) Reflects increased pension and non-pension postretirement benefits expense primarily due to changes in actuarial assumptions for 2007.

(13) Primarily reflects labor-related inflation.

(14) Reflects decreased planned nuclear refueling outage costs, excluding the Salem Generating Station (Salem).

(15) Reflects 2006 storm costs primarily in the PECO service territory, partially offset by increased storm costs in the ComEd service territory in 2007.

(16) Reflects a one-time benefit approved by the July 2006 ICC rate order to recover previously incurred environmental expenses associated with manufactured gas plants.

(17) Reflects increased depreciation and amortization primarily due to increased competitive transition charge (CTC) amortization at PECO.

(18) Reflects a reduction of a liability associated with PECO’s property taxes under the Pennsylvania Public Utility Realty Tax Act (PURTA).

(19) Reflects the impact on net income in 2006 primarily due to changes in income tax legislation in Pennsylvania and an investment tax credit (ITC) refund at PECO.

(20) Reflects the impact of the 2007 Illinois electric rate settlement.

(21) Reflects a decrease in Generation's nuclear decommissioning obligation liability primarily related to the AmerGen nuclear plants.

9

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings

to GAAP Earnings By Business Segment (in millions)

Three Months Ended September 30, 2007 and 2006

	Generation			ComEd			PECO			Other			Exelon
2006 GAAP Earnings (Loss)	$	394		$	(506	)	$	134		$	(66	)	$	(44	)
2006 Adjusted (non-GAAP) Operating Earnings (Loss) Adjustments:
Mark-to-Market (1)		(56	)		(1	)		—			(1	)		(58	)
Investments in Synthetic Fuel-Producing Facilities (2)		—			—			—			13			13
Charges Associated with Exelon's Now Terminated Merger with PSEG (3)		2			1			3			36			42
2006 Severance Charges (4)		6			5			3			—			14
Impairment of ComEd's Goodwill (5)		—			776			—			—			776
Recovery of Debt Costs at ComEd (6)		—			(52	)		—			—			(52	)
Settlement of a Tax Matter at Generation Related to Sithe (7)		(1	)		—			—			—			(1	)
2006 Adjusted (non-GAAP) Operating Earnings (Loss)		345			223			140			(18	)		690
Year Over Year Effects on Earnings:
Generation Energy Margins, Excluding Mark-to-Market (8)		275			—			—			—			275
ComEd and PECO Energy Margins:
Weather (9)		—			4			—			—			4
End of Regulatory Transition Period (10)		—			(162	)		—			—			(162	)
Other Energy Delivery (11)		—			46			17			—			63
Pension and Non-Pension Postretirement Benefits Expense (12)		(1	)		(3	)		—			—			(4	)
Labor and Contracting (13)		(21	)		(5	)		(6	)		—			(32	)
Planned Nuclear Refueling Outages (14)		13			—			—			—			13
Storm Costs (15)		—			(14	)		24			—			10
Recovery of Environmental Costs at ComEd (16)		—			(25	)		—			—			(25	)
Depreciation and Amortization (17)		3			3			(13	)		—			(7	)
Reduction of a Liability Related to Property Taxes (18)		—			—			22			—			22
Income Taxes (19)		2			5			(22	)		(10	)		(25	)
Interest and Other (20)		(8	)		(5	)		6			8			1
2007 Adjusted (non-GAAP) Operating Earnings (Loss)		608			67			168			(20	)		823
2007 Adjusted (non-GAAP) Operating Earnings (Loss) Adjustments:
Mark-to-Market (1)		—			1			—			2			3
Investments in Synthetic Fuel-Producing Facilities (2)		—			—			—			17			17
Settlement of a Tax Matter at Generation Related to Sithe (7)		(1	)		—			—			—			(1	)
2007 Illinois Electric Rate Settlement (21)		(77	)		(3	)		—			—			(80	)
Nuclear Decommissioning Obligation Reduction (22)		18			—			—			—			18
2007 GAAP Earnings (Loss)	$	548		$	65		$	168		$	(1	)	$	780

(1) Reflects the mark-to-market impact of Exelon's economic hedging activities.

(2) Reflects the financial impact of Exelon's investments in synthetic fuel-producing facilities, including the impact of mark-to-market gains (losses) associated with the related derivatives.

(3) Reflects certain integration costs incurred in connection with Exelon's proposed merger with PSEG, which was terminated in September 2006.

(4) Reflects severance charges in 2006.

(5) Reflects impairment of ComEd's goodwill in 2006.

(6) Reflects a one-time benefit approved by the July 2006 ICC rate order to recover previously incurred debt expenses to retire debt early.

(7) Reflects the settlement of separate tax matters at Generation related to Sithe in 2006 and 2007.

(8) Reflects higher average margins primarily due to the end of the below-market PPA with ComEd at year-end 2006 and the contractual increase in prices associated with Generation's PPA with PECO.

(9) Reflects favorable variance for weather conditions in the ComEd service territory.

(10) Reflects reduced earnings at ComEd primarily due to the end of ComEd's regulatory transition period and associated revenues.

(11) Reflects increased pricing for delivery service at ComEd as a result of the 2006 ICC rate order, increased transmission revenue as a result of ComEd's 2007 transmission rate case and higher electric delivery volume at PECO (excluding the impact of weather).

(12) Reflects increased pension and non-pension postretirement benefits expense primarily due to changes in actuarial assumptions for 2007.

(13) Primarily reflects labor-related inflation.

(14) Reflects decreased planned nuclear refueling outage costs, excluding Salem.

(15) Reflects 2006 storm costs primarily in the PECO service territory, partially offset by increased storm costs in the ComEd service territory in 2007.

(16) Reflects a one-time benefit approved by the July 2006 ICC rate order to recover previously incurred environmental expenses associated with manufactured gas plants.

(17) Reflects increased depreciation and amortization primarily due to increased CTC amortization at PECO.

(18) Reflects a reduction of a liability associated with PECO’s property taxes under the PURTA.

(19) Reflects the impact on net income in 2006 primarily due to changes in income tax legislation in Pennsylvania and an ITC refund at PECO.

(20) Primarily reflects lower interest expense at Exelon.

(21) Reflects the impact of the 2007 Illinois electric rate settlement.

(22) Reflects a decrease in Generation's nuclear decommissioning obligation liability primarily related to the AmerGen nuclear plants.

10

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings

Per Diluted Share to GAAP Earnings Per Diluted Share

Nine Months Ended September 30, 2007 and 2006

2006 GAAP Earnings per Diluted Share	$	1.48
2006 Adjusted (non-GAAP) Operating Earnings Adjustments:
Mark-to-Market (1)		(0.11	)
Investments in Synthetic Fuel-Producing Facilities (2)		0.08
Charges Associated with Exelon's Now Terminated Merger with PSEG (3)		0.09
Nuclear Decommissioning Obligation Reduction (4)		(0.13	)
2006 Severance Charges (5)		0.02
Impairment of ComEd's Goodwill (6)		1.15
Recovery of Debt Costs at ComEd (7)		(0.08	)
2006 Adjusted (non-GAAP) Operating Earnings		2.50
Year Over Year Effects on Earnings:
Generation Energy Margins, Excluding Mark-to-Market (8)		1.22
ComEd Energy Margins:
Weather (9)		0.04
End of Regulatory Transition Period (10)		(0.49	)
Other Energy Delivery (11)		0.16
PECO Energy Margins:
Weather (12)		0.05
Other Energy Delivery (13)		0.07
PJM Settlement (14)		0.04
Pension and Non-Pension Postretirement Benefits Expense (15)		(0.03	)
Labor and Contracting (16)		(0.12	)
Planned Nuclear Refueling Outages (17)		0.04
Storm Costs (18)		0.01
Recovery of Environmental Costs at ComEd (19)		(0.04	)
Other Operating and Maintenance Expense (20)		(0.05	)
Depreciation and Amortization (21)		(0.05	)
Reduction of a Liability Related to Property Taxes (22)		0.03
Income Taxes (23)		(0.05	)
Taxes Other Than Income and Other (24)		(0.01	)
Share Differential (25)		(0.01	)
2007 Adjusted (non-GAAP) Operating Earnings		3.31
2007 Adjusted (non-GAAP) Operating Earnings Adjustments:
Mark-to-Market (1)		(0.12	)
Investments in Synthetic Fuel-Producing Facilities (2)		0.10
Nuclear Decommissioning Obligation Reduction (4)		0.03
Settlement of a Tax Matter at Generation Related to Sithe (26)		0.01
2007 Illinois Electric Rate Settlement (27)		(0.14	)
Sale of Generation's investments in TEG and TEP (28)		0.01
2007 GAAP Earnings per Diluted Share	$	3.20

(1) Reflects the mark-to-market impact of Exelon's economic hedging activities.

(2) Reflects the financial impact of Exelon's investments in synthetic fuel-producing facilities, including the impact of mark-to-market gains (losses) associated with the related derivatives.

(3) Reflects certain costs incurred in connection with Exelon's proposed merger with PSEG, which was terminated in September 2006.

(4) Reflects a decrease in Generation's nuclear decommissioning obligation liability primarily related to the AmerGen nuclear plants.

(5) Reflects severance charges in 2006.

(6) Reflects impairment of ComEd's goodwill in 2006.

(7) Reflects a one-time benefit approved by the July 2006 ICC rate order to recover previously incurred debt expenses to retire debt early.

(8) Reflects higher average margins primarily due to the end of the below-market PPA with ComEd at year-end 2006, higher nuclear output reflecting fewer outage days and the contractual increase in prices associated with Generation's PPA with PECO.

(9) Reflects a favorable variance for weather conditions in the ComEd service territory.

(10) Reflects reduced earnings at ComEd primarily due to the end of ComEd's regulatory transition period and associated revenues.

(11) Reflects increased pricing for delivery service at ComEd as a result of the 2006 ICC rate order, increased transmission revenue as a result of the 2007 transmission rate case and higher electric delivery volume (excluding the impact of weather).

(12) Reflects a favorable variance for weather conditions in the PECO service territory.

(13) Reflects increased revenues at PECO primarily due to higher electric delivery volume (excluding the impact of weather) and increased late payment fees at PECO.

(14) Reflects the favorable PJM Interconnection, LLC (PJM) billing settlement with PPL Electric (PPL) approved by the Federal Energy Regulatory Commission (FERC).

(15) Reflects increased pension and non-pension postretirement benefits expense primarily due to changes in actuarial assumptions for 2007.

(16) Primarily reflects labor-related inflation.

(17) Reflects decreased planned nuclear refueling outage costs, excluding Salem.

(18) Reflects 2006 storm costs primarily in the PECO service territory, partially offset by increased storm costs in the ComEd service territory in 2007.

(19) Reflects a one-time benefit approved by the July 2006 ICC rate order to recover previously incurred environmental expenses associated with manufactured gas plants.

(20) Primarily reflects increased nuclear refueling outage costs at Salem and increased advertising expense related to the end of ComEd's rate freeze.

(21) Reflects increased depreciation and amortization primarily due to increased CTC amortization at PECO.

(22) Reflects a reduction of a liability associated with PECO’s property taxes under the PURTA.

(23) Reflects the impact on net income in 2006 primarily due to changes in income tax legislation in Pennsylvania and an ITC refund at PECO.

(24) Reflects higher utility revenue taxes at PECO and higher property taxes at Generation, partially offset by lower interest expense at Exelon.

(25) Reflects dilution of earnings per share due to increased diluted common shares outstanding.

(26) Reflects the settlement of a tax matter at Generation related to Sithe.

(27) Reflects the impact of the 2007 Illinois electric rate settlement.

(28) Reflects the gain related to the sale of Generation's ownership interest in TEG and TEP.

11

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings

to GAAP Earnings By Business Segment (in millions)

Nine Months Ended September 30, 2007 and 2006

	Generation			ComEd			PECO			Other			Exelon
2006 GAAP Earnings (Loss)	$	1,163		$	(325	)	$	320		$	(158	)	$	1,000
2006 Adjusted (non-GAAP) Operating Earnings (Loss) Adjustments:
Mark-to-Market (1)		(79	)		3			—			—			(76	)
Investments in Synthetic Fuel-Producing Facilities (2)		—			—			—			55			55
Charges Associated with Exelon's Now Terminated Merger with PSEG (3)		8			4			10			36			58
Nuclear Decommissioning Obligation Reduction (4)		(89	)		—			—			—			(89	)
2006 Severance Charges (5)		7			4			3			1			15
Impairment of ComEd's Goodwill (6)		—			776			—			—			776
Recovery of Debt Costs at ComEd (7)		—			(52	)		—			—			(52	)
2006 Adjusted (non-GAAP) Operating Earnings (Loss)		1,010			410			333			(66	)		1,687
Year Over Year Effects on Earnings:
Generation Energy Margins, Excluding Mark-to-Market (8)		830			—			—			—			830
ComEd and PECO Energy Margins:
Weather (9)		—			25			32			—			57
End of Regulatory Transition Period (10)		—			(332	)		—			—			(332	)
Other Energy Delivery (11)		—			111			49			—			160
PJM Settlement (12)		20			—			7			—			27
Pension and Non-Pension Postretirement Benefits Expense (13)		(10	)		(7	)		(1	)		—			(18	)
Labor and Contracting (14)		(54	)		(16	)		(15	)		—			(85	)
Planned Nuclear Refueling Outages (15)		26			—			—			—			26
Storm Costs (16)		—			(14	)		24			—			10
Recovery of Environmental Costs at ComEd (17)		—			(25	)		—			—			(25	)
Other Operating and Maintenance Expense (18)		(12	)		(24	)		1			—			(35	)
Depreciation and Amortization (19)		5			(4	)		(35	)		—			(34	)
Reduction of a Liability Related to Property Taxes (20)		—			—			22			—			22
Income Taxes (21)		(8	)		11			(26	)		(16	)		(39	)
Taxes Other Than Income and Other (22)		5			(19	)		1			8			(5	)
2007 Adjusted (non-GAAP) Operating Earnings (Loss)		1,812			116			392			(74	)		2,246
2007 Adjusted (non-GAAP) Operating Earnings (Loss) Adjustments:
Mark-to-Market (1)		(83	)		1			—			2			(80	)
Investments in Synthetic Fuel-Producing Facilities (2)		—			—			—			69			69
Nuclear Decommissioning Obligation Reduction (4)		18			—			—			—			18
Settlement of a Tax Matter at Generation Related to Sithe (23)		5			—			—			—			5
2007 Illinois Electric Rate Settlement (24)		(77	)		(19	)		—			—			(96	)
Sale of Generation's investments in TEG and TEP (25)		11			—			—			—			11
2007 GAAP Earnings (Loss)	$	1,686		$	98		$	392		$	(3	)	$	2,173

(1) Reflects the mark-to-market impact of Exelon's economic hedging activities.

(2) Reflects the financial impact of Exelon's investments in synthetic fuel-producing facilities, including the impact of mark-to-market gains (losses) associated with the related derivatives.

(3) Reflects certain integration costs incurred in connection with Exelon's proposed merger with PSEG, which was terminated in September 2006.

(4) Reflects a decrease in Generation's nuclear decommissioning obligation liability primarily related to the AmerGen nuclear plants.

(5) Reflects severance charges in 2006.

(6) Reflects impairment of ComEd's goodwill in 2006.

(7) Reflects a one-time benefit approved by the July 2006 ICC rate order to recover previously incurred debt expenses to retire debt early.

(8) Reflects higher average margins primarily due to the end of the below-market PPA with ComEd at year-end 2006, higher nuclear output reflecting fewer outage days and the contractual increase in prices associated with Generation's PPA with PECO.

(9) Reflects favorable variance for weather conditions in the ComEd and PECO service territories.

(10) Reflects reduced earnings at ComEd primarily due to the end of ComEd's regulatory transition period and associated revenues.

(11) Reflects increased pricing for delivery service at ComEd as a result of the 2006 ICC rate order, increased transmission revenue as a result of ComEd's 2007 transmission rate case, higher electric delivery volume at ComEd and PECO (excluding the impact of weather) and increased late payment fees at PECO.

(12) Reflects the favorable PJM billing settlement with PPL approved by FERC.

(13) Reflects increased pension and non-pension postretirement benefits expense primarily due to changes in actuarial assumptions for 2007.

(14) Primarily reflects labor-related inflation.

(15) Reflects decreased planned nuclear refueling outage costs, excluding Salem.

(16) Reflects 2006 storm costs primarily in the PECO service territory, partially offset by increased storm costs in the ComEd service territory in 2007.

(17) Reflects a one-time benefit approved by the July 2006 ICC rate order to recover previously incurred environmental expenses associated with manufactured gas plants.

(18) Primarily reflects increased nuclear refueling outage costs at Salem and increased advertising expense related to the end of ComEd's rate freeze.

(19) Reflects increased depreciation and amortization primarily due to increased CTC amortization at PECO.

(20) Reflects a reduction of a liability associated with PECO’s property taxes under the PURTA.

(21) Reflects the impact on net income in 2006 primarily due to changes in income tax legislation in Pennsylvania and an ITC refund at PECO.

(22) Reflects higher utility revenue taxes at PECO and higher property taxes at Generation, partially offset by lower interest expense at Exelon.

(23) Reflects the settlement of a tax matter at Generation related to Sithe.

(24) Reflects the impact of the 2007 Illinois electric rate settlement.

(25) Reflects the gain related to the sale of Generation's ownership interest in TEG and TEP.

12

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings to

GAAP Consolidated Statements of Operations

(unaudited)

(in millions)

		Generation
	Three Months Ended September 30, 2007									Three Months Ended September 30, 2006
	GAAP (a)			Adjustments			Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	2,837		$	122	(b)	$	2,959		$	2,635		$	—		$	2,635
Operating expenses
Purchased power		808			(32	) (c)		776			826			54	(c)		880
Fuel		467			32	(c)		499			447			37	(c)		484
Operating and maintenance		544			29	(d)		573			574			(14	) (g),(h)		560
Depreciation and amortization		66			—			66			71			—			71
Taxes other than income		47			—			47			49			—			49
Total operating expenses		1,932			29			1,961			1,967			77			2,044
Operating income		905			93			998			668			(77	)		591
Other income and deductions
Interest expense, net		(35	)		—			(35	)		(38	)		—			(38	)
Equity in losses of investments		—			—			—			(5	)		—			(5	)
Other, net		15			—			15			12			—			12
Total other income and deductions		(20	)		—			(20	)		(31	)		—			(31	)
Income before income taxes		885			93			978			637			(77	)		560
Income taxes		336			34	(b),(c),(d)		370			244			(29	) (c),(g),(h)		215
Income from continuing operations		549			59			608			393			(48	)		345
Income (loss) from discontinued operations		(1	)		1	(e)		—			1			(1	) (e)		—
Net income	$	548		$	60		$	608		$	394		$	(49	)	$	345
	Nine Months Ended September 30, 2007									Nine Months Ended September 30, 2006
	GAAP (a)			Adjustments			Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	8,181		$	122	(b)	$	8,303		$	7,069		$	—		$	7,069
Operating expenses
Purchased power		1,939			(177	) (c)		1,762			1,607			141	(c)		1,748
Fuel		1,374			40	(c)		1,414			1,484			(14	) (c)		1,470
Operating and maintenance		1,801			29	(d)		1,830			1,682			127	(d),(g),(h)		1,809
Depreciation and amortization		199			—			199			210			—			210
Taxes other than income		135			—			135			133			—			133
Total operating expenses		5,448			(108	)		5,340			5,116			254			5,370
Operating income		2,733			230			2,963			1,953			(254	)		1,699
Other income and deductions
Interest expense, net		(100	)		—			(100	)		(120	)		7	(e)		(113	)
Equity in earnings (losses) of investments		2			—			2			(9	)		—			(9	)
Other, net		68			(18	) (f)		50			31			4	(g)		35
Total other income and deductions		(30	)		(18	)		(48	)		(98	)		11			(87	)
Income before income taxes		2,703			212			2,915			1,855			(243	)		1,612
Income taxes		1,021			81	(b),(c),(d),(f)		1,102			696			(94	) (c),(d),(e),(g),(h)		602
Income from continuing operations		1,682			131			1,813			1,159			(149	)		1,010
Income (loss) from discontinued operations		4			(5	) (e)		(1	)		4			(4	) (e)		—
Net income	$	1,686		$	126		$	1,812		$	1,163		$	(153	)	$	1,010

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude the impact of the 2007 Illinois electric rate settlement.

(c) Adjustment to exclude the mark-to-market impact of Generation's economic hedging activities.

(d) Adjustment to exclude the decrease in Generation's nuclear decommissioning obligation liability primarily related to the AmerGen nuclear plants.

(e) Adjustment to exclude the settlement of separate tax matters at Generation related to Sithe in 2006 and 2007.

(f) Reflects the increase in the gain related to the first quarter 2007 sale of Generation's ownership interest in TEG and TEP.

(g) Adjustment to exclude certain costs associated with Exelon's merger with PSEG, which was terminated in September 2006.

(h) Adjustment to exclude severance charges in 2006.

13

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings to

GAAP Consolidated Statements of Operations

(unaudited)

(in millions)

		ComEd
	Three Months Ended September 30, 2007									Three Months Ended September 30, 2006
	GAAP (a)			Adjustments			Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	1,758		$	3	(b),(c)	$	1,761		$	1,840		$	(2	) (c)	$	1,838
Operating expenses
Purchased power		1,100			—			1,100			994			—			994
Operating and maintenance		268			—			268			210			(10	) (d),(e)		200
Impairment of goodwill		—			—			—			776			(776	) (f)		—
Depreciation and amortization		110			—			110			115			—			115
Taxes other than income		87			—			87			83			—			83
Total operating expenses		1,565			—			1,565			2,178			(786	)		1,392
Operating income (loss)		193			3			196			(338	)		784			446
Other income and deductions
Interest expense, net		(90	)		—			(90	)		(78	)		—			(78	)
Equity in losses of unconsolidated affiliates		(2	)		—			(2	)		(2	)		—			(2	)
Other, net		4			—			4			89			(87	) (g)		2
Total other income and deductions		(88	)		—			(88	)		9			(87	)		(78	)
Income (loss) before income taxes		105			3			108			(329	)		697			368
Income taxes		40			1	(b),(c)		41			177			(32	) (c),(d),(e),(g)		145
Net income (loss)	$	65		$	2		$	67		$	(506	)	$	729		$	223
	Nine Months Ended September 30, 2007									Nine Months Ended September 30, 2006
	GAAP (a)			Adjustments			Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	4,668		$	22	(b),(c)	$	4,690		$	4,720		$	5	(c)	$	4,725
Operating expenses
Purchased power		2,906			—			2,906			2,623			—			2,623
Operating and maintenance		778			(8	) (b)		770			644			(13	) (d),(e)		631
Impairment of goodwill		—			—			—			776			(776	) (f)		—
Depreciation and amortization		327			—			327			320			—			320
Taxes other than income		243			—			243			234			—			234
Total operating expenses		4,254			(8	)		4,246			4,597			(789	)		3,808
Operating income		414			30			444			123			794			917
Other income and deductions
Interest expense, net		(259	)		—			(259	)		(230	)		—			(230	)
Equity in losses of unconsolidated affiliates		(6	)		—			(6	)		(8	)		—			(8	)
Other, net		10			—			10			90			(87	) (g)		3
Total other income and deductions		(255	)		—			(255	)		(148	)		(87	)		(235	)
Income (loss) before income taxes		159			30			189			(25	)		707			682
Income taxes		61			12	(b),(c)		73			300			(28	) (c),(d),(e),(g)		272
Net income (loss)	$	98		$	18		$	116		$	(325	)	$	735		$	410

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude the impact of the 2007 Illinois electric rate settlement.

(c) Adjustment to exclude the mark-to-market impact of ComEd's economic hedging activities.

(d) Adjustment to exclude certain costs associated with Exelon's merger with PSEG, which was terminated in September 2006.

(e) Adjustment to exclude severance charges in 2006.

(f) Adjustment to exclude the impairment of ComEd's goodwill in 2006.

(g) Adjustment to exclude the one-time benefit to recover previously incurred debt costs approved by the July 2006 ICC rate order.

14

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings to

GAAP Consolidated Statements of Operations

(unaudited)

(in millions)

	PECO
	Three Months Ended September 30, 2007								Three Months Ended September 30, 2006
	GAAP (a)			Adjustments		Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	1,459		$	—	$	1,459		$	1,379		$	—		$	1,379
Operating expenses
Purchased power		683			—		683			624			—			624
Fuel		37			—		37			42			—			42
Operating and maintenance		152			—		152			191			(6	) (b),(c)		185
Depreciation and amortization		221			—		221			204			(2	) (b)		202
Taxes other than income		70			—		70			81			—			81
Total operating expenses		1,163			—		1,163			1,142			(8	)		1,134
Operating income		296			—		296			237			8			245
Other income and deductions
Interest expense, net		(61	)		—		(61	)		(66	)		—			(66	)
Equity in losses of unconsolidated affiliates		(1	)		—		(1	)		(2	)		—			(2	)
Other, net		25			—		25			11			—			11
Total other income and deductions		(37	)		—		(37	)		(57	)		—			(57	)
Income before income taxes		259			—		259			180			8			188
Income taxes		91			—		91			46			2	(b),(c)		48
Net income	$	168		$	—	$	168		$	134		$	6		$	140
	Nine Months Ended September 30, 2007								Nine Months Ended September 30, 2006
	GAAP (a)			Adjustments		Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	4,228		$	—	$	4,228		$	3,933		$	—		$	3,933
Operating expenses
Purchased power		1,796			—		1,796			1,611			—			1,611
Fuel		422			—		422			445						445
Operating and maintenance		446			—		446			479			(11	) (b),(c)		468
Depreciation and amortization		591			—		591			547			(9	) (b)		538
Taxes other than income		212			—		212			198			—			198
Total operating expenses		3,467			—		3,467			3,280			(20	)		3,260
Operating income		761			—		761			653			20			673
Other income and deductions
Interest expense, net		(188	)		—		(188	)		(202	)		—			(202	)
Equity in losses of unconsolidated affiliates		(5	)		—		(5	)		(7	)		—			(7	)
Other, net		36			—		36			16			—			16
Total other income and deductions		(157	)		—		(157	)		(193	)		—			(193	)
Income before income taxes		604			—		604			460			20			480
Income taxes		212			—		212			140			7	(b),(c)		147
Net income	$	392		$	—	$	392		$	320		$	13		$	333

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude certain costs associated with Exelon's merger with PSEG, which was terminated in September 2006.

(c) Adjustment to exclude severance charges in 2006.

15

EXELON CORPORATION

Reconciliation of Adjusted (non-GAAP) Operating Earnings to

GAAP Consolidated Statements of Operations

(unaudited)

(in millions)

	Other
	Three Months Ended September 30, 2007									Three Months Ended September 30, 2006
	GAAP (a)			Adjustments			Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	(1,022	)	$	—		$	(1,022	)	$	(1,453	)	$	—		$	(1,453	)
Operating expenses
Purchased power		(1,023	)		4	(b)		(1,019	)		(1,448	)		—			(1,448	)
Fuel		(1	)		—			(1	)		—			—			—
Operating and maintenance		30			(39	) (c)		(9	)		109			(113	) (c),(d)		(4	)
Depreciation and amortization		11			—			11			10			—			10
Taxes other than income		4			—			4			5			—			5
Total operating expenses		(979	)		(35	)		(1,014	)		(1,324	)		(113	)		(1,437	)
Operating loss		(43	)		35			(8	)		(129	)		113			(16	)
Other income and deductions
Interest expense, net		(25	)		1	(c)		(24	)		(36	)		2	(c)		(34	)
Equity in losses of unconsolidated affiliates and investments		(17	)		17	(c)		—			(4	)		4	(c)		—
Other, net		74			(74	) (c)		—			2			4	(c)		6
Total other income and deductions		32			(56	)		(24	)		(38	)		10			(28	)
Loss from continuing operations before income taxes		(11	)		(21	)		(32	)		(167	)		123			(44	)
Income taxes		(8	)		(2	) (b),(c)		(10	)		(101	)		75	(c),(d)		(26	)
Loss from continuing operations		(3	)		(19	)		(22	)		(66	)		48			(18	)
Income from discontinued operations		2			—			2			—			—			—
Net loss	$	(1	)	$	(19	)	$	(20	)	$	(66	)	$	48		$	(18	)
	Nine Months Ended September 30, 2007									Nine Months Ended September 30, 2006
	GAAP (a)			Adjustments			Adjusted Non-GAAP			GAAP (a)			Adjustments			Adjusted Non-GAAP
Operating revenues	$	(2,715	)	$	—		$	(2,715	)	$	(3,762	)	$	—		$	(3,762	)
Operating expenses
Purchased power		(2,710	)		4	(b)		(2,706	)		(3,749	)		—			(3,749	)
Fuel		(1	)		—			(1	)		(1	)		—			(1	)
Operating and maintenance		89			(106	) (c)		(17	)		184			(212	) (c),(d),(e)		(28	)
Depreciation and amortization		29			—			29			58			(28	) (c)		30
Taxes other than income		13			—			13			17			—			17
Total operating expenses		(2,580	)		(102	)		(2,682	)		(3,491	)		(240	)		(3,731	)
Operating loss		(135	)		102			(33	)		(271	)		240			(31	)
Other income and deductions
Interest expense, net		(91	)		3	(c)		(88	)		(111	)		7	(c)		(104	)
Equity in losses of unconsolidated affiliates and       investments		(80	)		80	(c)		—			(50	)		50	(c)		—
Other, net		110			(102	) (c)		8			68			(49	) (c)		19
Total other income and deductions		(61	)		(19	)		(80	)		(93	)		8			(85	)
Loss from continuing operations before income taxes		(196	)		83			(113	)		(364	)		248			(116	)
Income taxes		(187	)		154	(b),(c)		(33	)		(207	)		156	(c),(d),(e)		(51	)
Loss from continuing operations		(9	)		(71	)		(80	)		(157	)		92			(65	)
Income (loss) from discontinued operations		6			—			6			(1	)		—			(1	)
Net loss	$	(3	)	$	(71	)	$	(74	)	$	(158	)	$	92		$	(66	)

(a) Results reported in accordance with GAAP.

(b) Adjustment to exclude the mark-to-market impact of Exelon's economic hedging activities.

(c) Adjustment to exclude the financial impact of Exelon's investments in synthetic fuel-producing facilities, including the impact of mark-to-market gains (losses) associated with the related derivatives.

(d) Adjustment to exclude certain costs associated with Exelon's merger with PSEG, which was terminated in September 2006.

(e) Adjustment to exclude severance charges in 2006.

16

EXELON CORPORATION

Exelon Generation Statistics

	Three Months Ended
	September 30, 2007		June 30, 2007		March 31, 2007		December 31, 2006		September 30, 2006
Supply (in GWhs)
Nuclear		36,356		34,350		35,357		34,810		35,867
Purchased Power—Generation		11,689		8,579		8,683		9,085		13,341
Fossil and Hydro		3,067		2,859		2,994		2,860		3,794
Power Team Supply		51,112		45,788		47,034		46,755		53,002
	Three Months Ended
	September 30, 2007		June 30, 2007		March 31, 2007		December 31, 2006		September 30, 2006
Electric Sales (in GWhs)
ComEd		6,628		5,146		5,926		18,173		22,566
PECO		11,374		9,732		10,279		9,383		11,361
Market and Retail		33,110		30,910		30,829		19,199		19,075
Total Electric Sales (a) (b)		51,112		45,788		47,034		46,755		53,002
Average Margin ($/MWh)
Average Realized Revenue
ComEd	$	64.57	$	64.13	$	64.12	$	30.26	$	39.31
PECO		51.96		51.07		46.70		45.29		47.71
Market and Retail (c)		56.00		54.38		53.07		47.76		54.21
Total Electric Sales		56.21		54.77		53.07		40.47		46.47
Average Purchased Power and Fuel Cost (d)	$	23.61	$	18.80	$	16.46	$	15.66	$	24.38
Average Margin (d)	$	32.60	$	35.97	$	36.61	$	24.81	$	22.09
Around-the-clock Market Prices ($/MWh) (e)
PJM West Hub	$	63.34	$	57.61	$	59.82	$	41.66	$	58.15
NiHub		47.02		44.39		44.80		37.77		46.15

(a) Excludes retail gas sales, trading portfolio and other operating revenue.

(b) Total sales do not include trading volume of 5,667 GWhs, 4,775 GWhs, 5,101 GWhs, 8,029 GWhs and 8,909 GWhs for the three months ended September 30, 2007, June 30, 2007, March 31, 2007, December 31, 2006 and September 30, 2006, respectively.

(c) Represents wholesale and retail sales that exclude revenues related to tolling agreements of $52 million for the three months ended September 30, 2006.

(d) Excludes the mark-to-market impact of Generation's economic hedging activities.

(e) Represents the average for the quarter.

17

EXELON CORPORATION

Exelon Generation Statistics

Nine Months Ended September 30, 2007 and 2006

	September 30, 2007		September 30, 2006
Supply (in GWhs)
Nuclear		106,063		104,800
Purchased Power—Generation		28,951		29,211
Fossil and Hydro		8,920		9,914
Power Team Supply		143,934		143,925
	September 30, 2007		September 30, 2006
Electric Sales (in GWhs)
ComEd		17,700		61,559
PECO		31,385		30,238
Market and Retail Sales		94,849		52,128
Total Electric Sales (a) (b)		143,934		143,925
Average Margin ($/MWh)
Average Realized Revenue
ComEd	$	64.29	$	37.56
PECO		49.96		45.87
Market (c)		54.52		52.24
Total Electric Sales		54.73		44.62
Average Purchased Power and Fuel Cost (d)	$	19.75	$	19.48
Average Margin (d)	$	34.98	$	25.14
Around-the-clock Market Prices ($/MWh) (e)
PJM West Hub	$	60.26	$	54.21
NiHub		45.40		42.64

(a) Excludes retail gas sales, trading portfolio and other operating revenue.

(b) Total sales do not include trading volume of 15,543 GWhs and 23,663 GWhs for the nine months ended September 30, 2007 and 2006, respectively.

(c) Represents wholesale and retail sales that exclude revenues related to tolling agreements of $86 million for the nine months ended September 30, 2006.

(d) Excludes the mark-to-market impact of Generation's economic hedging activities.

(e) Represents the average for the quarter.

18

EXELON CORPORATION

ComEd Sales Statistics

Three Months Ended September 30, 2007 and 2006

	Electric Deliveries (in GWhs)						Revenue (in millions)
	2007		2006		% Change		2007			2006			% Change
Full Service (a)
Residential	8,997		8,656		3.9	%	$	987		$	802		23.1	%
Small Commercial & Industrial	4,330		6,917		(37.4	)%		438			584		(25.0	)%
Large Commercial & Industrial	351		3,032		(88.4	)%		29			181		(84.0	)%
Public Authorities	167		577		(71.1	)%		15			36		(58.3	)%
Total Full Service	13,845		19,182		(27.8	)%		1,469			1,603		(8.4	)%
PPO (b)
Small Commercial & Industrial	—		144		(100.0	)%		—			15		(100.0	)%
Large Commercial & Industrial	—		55		(100.0	)%		—			5		(100.0	)%
	—		199		(100.0	)%		—			20		(100.0	)%
Delivery Only (c)
Residential	(d	)	(d	)				(d	)		(d	)
Small Commercial & Industrial	4,927		1,748		181.9	%		74			28		164.3	%
Large Commercial & Industrial	7,307		4,553		60.5	%		75			48		56.3	%
Public Authorities & Electric Railroads	126		—		n.m.			1			—		n.m.
	12,360		6,301		96.2	%		150			76		97.4	%
Total PPO and Delivery Only	12,360		6,500		90.2	%		150			96		56.3	%
Total Retail	26,205		25,682		2.0	%		1,619			1,699		(4.7	)%
Other Revenue (e)								139			141		(1.4	)%
Total Revenues							$	1,758		$	1,840		(4.5	)%
Purchased Power							$	1,100		$	994		10.7	%
Heating and Cooling Degree-Days	2007		2006		Normal
Heating Degree-Days	57		115		127
Cooling Degree-Days	746		710		603

(a) Full service reflects deliveries to customers taking electric service under tariff rates which include the cost of electricity and the cost of the transmission and distribution of the electricity.

(b) Revenue from customers choosing ComEd's power purchase option includes an energy charge at market rates, transmission and distribution charges, and a CTC through December 31, 2006.

(c) Delivery only service reflects customers electing to receive electricity from a competitive electric generation supplier. Revenue from customers choosing a competitive electric generation supplier includes a distribution charge, and a CTC through December 31, 2006.

(d) All ComEd customers have the choice to purchase electricity from a competitive electric generation supplier. This choice does not impact the volume of deliveries, but affects revenue collected from customers related to supplied electricity and generation service. As of September 30, 2007, two competitive electric generation suppliers had been granted approval to serve residential customers in the ComEd service territory. However, they are not currently supplying electricity to any residential customers.

(e) Other revenue includes transmission revenue from PJM, sales to municipalities, other wholesale energy sales and economic hedge derivative contracts.

n.m. - Not meaningful

19

EXELON CORPORATION

ComEd Sales Statistics

Nine Months Ended September 30, 2007 and 2006

	Electric Deliveries (in GWhs)						Revenue (in millions)
	2007		2006		% Change		2007			2006			% Change
Full Service (a)
Residential	22,445		21,577		4.0	%	$	2,409		$	1,899		26.9	%
Small Commercial & Industrial	12,758		17,945		(28.9	)%		1,253			1,423		(11.9	)%
Large Commercial & Industrial	1,596		7,641		(79.1	)%		125			421		(70.3	)%
Public Authorities	563		1,692		(66.7	)%		49			104		(52.9	)%
Total Full Service	37,362		48,855		(23.5	)%		3,836			3,847		(0.3	)%
PPO (b)
Small Commercial & Industrial	16		2,467		(99.4	)%		1			177		(99.4	)%
Large Commercial & Industrial	34		2,253		(98.5	)%		3			137		(97.8	)%
	50		4,720		(98.9	)%		4			314		(98.7	)%
Delivery Only (c)
Residential	(d	)	(d	)				(d	)		(d	)
Small Commercial & Industrial	12,813		3,933		n.m.			193			61		n.m.
Large Commercial & Industrial	20,514		11,276		81.9	%		209			115		81.7	%
Public Authorities & Electric Railroads	394		—		n.m.			4			—		n.m.
	33,721		15,209		121.7	%		406			176		130.7	%
Total PPO and Delivery Only	33,771		19,929		69.5	%		410			490		(16.3	)%
Total Retail	71,133		68,784		3.4	%		4,246			4,337		(2.1	)%
Other Revenue (e)								422			383		10.2	%
Total Revenues							$	4,668		$	4,720		(1.1	)%
Purchased Power							$	2,906		$	2,623		10.8	%
Heating and Cooling Degree-Days	2007		2006		Normal
Heating Degree-Days	3,882		3,473		4,187
Cooling Degree-Days	1,055		922		820

(a) Full service reflects deliveries to customers taking electric service under tariff rates which include the cost of electricity and the cost of the transmission and distribution of the electricity.

(b) Revenue from customers choosing ComEd's power purchase option includes an energy charge at market rates, transmission and distribution charges, and a CTC through December 31, 2006.

(c) Delivery only service reflects customers electing to receive electricity from a competitive electric generation supplier. Revenue from customers choosing a competitive electric generation supplier includes a distribution charge, and a CTC through December 31, 2006.

(d) All ComEd customers have the choice to purchase electricity from a competitive electric generation supplier. This choice does not impact the volume of deliveries, but affects revenue collected from customers related to supplied electricity and generation service. As of September 30, 2007, two competitive electric generation suppliers had been granted approval to serve residential customers in the ComEd service territory. However, they are not currently supplying electricity to any residential customers.

(e) Other revenue includes transmission revenue from PJM, sales to municipalities, other wholesale energy sales and economic hedge derivative contracts.

n.m. - Not meaningful

20

EXELON CORPORATION

PECO Sales Statistics

Three Months Ended September 30, 2007 and 2006

	Electric and Gas Deliveries				Revenue (in millions)
	2007	2006	% Change		2007		2006		% Change
Electric (in GWhs)
Full Service (a)
Residential	3,889	3,787	2.7	%	$	611	$	570	7.2	%
Small Commercial & Industrial	2,255	2,146	5.1	%		299		276	8.3	%
Large Commercial & Industrial	4,484	4,455	0.7	%		373		363	2.8	%
Public Authorities & Electric Railroads	249	217	14.7	%		23		21	9.5	%
Total Full Service	10,877	10,605	2.6	%		1,306		1,230	6.2	%
Delivery Only (b)
Residential	12	17	(29.4	)%		1		1	0.0	%
Small Commercial & Industrial	158	183	(13.7	)%		9		11	(18.2	)%
Large Commercial & Industrial	3	4	(25.0	)%		—		—	0.0	%
Total Delivery Only	173	204	(15.2	)%		10		12	(16.7	)%
Total Electric Retail	11,050	10,809	2.2	%		1,316		1,242	6.0	%
Other Revenue (c)						76		68	11.8	%
Total Electric Revenue						1,392		1,310	6.3	%
Gas (in mmcfs)
Retail Sales	3,845	3,950	(2.7	)%		60		64	(6.3	)%
Transportation and Other	7,393	6,184	19.6	%		7		5	40.0	%
Total Gas	11,238	10,134	10.9	%		67		69	(2.9	)%
Total Electric and Gas Revenues					$	1,459	$	1,379	5.8	%
Purchased Power					$	683	$	624	9.5	%
Fuel						37		42	(11.9	)%
Total Purchased Power and Fuel					$	720	$	666	8.1	%
Heating and Cooling Degree-Days	2007	2006	Normal
Heating Degree-Days	19	34	41
Cooling Degree-Days	1,005	969	900

(a) Full service reflects deliveries to customers taking electric service under tariff rates, which include the cost of electricity, the cost of transmission and distribution of the electricity and a CTC.

(b) Delivery only service reflects customers electing to receive electricity from a competitive electric generation supplier. Revenue from customers choosing a competitive electric generation supplier includes a distribution charge and a CTC.

(c) Other revenue includes transmission revenue from PJM, wholesale revenue and other revenues.

21

EXELON CORPORATION

PECO Sales Statistics

Nine Months Ended September 30, 2007 and 2006

	Electric and Gas Deliveries				Revenue (in millions)
	2007	2006	% Change		2007		2006		% Change
Electric (in GWhs)
Full Service (a)
Residential	10,267	9,703	5.8	%	$	1,505	$	1,365	10.3	%
Small Commercial & Industrial	6,319	5,899	7.1	%		803		722	11.2	%
Large Commercial & Industrial	12,445	12,032	3.4	%		1,043		978	6.6	%
Public Authorities & Electric Railroads	683	689	(0.9	)%		66		63	4.8	%
Total Full Service	29,714	28,323	4.9	%		3,417		3,128	9.2	%
Delivery Only (b)
Residential	33	50	(34.0	)%		2		4	(50.0	)%
Small Commercial & Industrial	446	528	(15.5	)%		24		29	(17.2	)%
Large Commercial & Industrial	10	32	(68.8	)%		—		1	(100.0	)%
Total Delivery Only	489	610	(19.8	)%		26		34	(23.5	)%
Total Electric Retail	30,203	28,933	4.4	%		3,443		3,162	8.9	%
Other Revenue (c)						208		185	12.4	%
Total Electric Revenue						3,651		3,347	9.1	%
Gas (in mmcfs)
Retail Sales	41,130	35,163	17.0	%		543		570	(4.7	)%
Transportation and Other	20,370	19,203	6.1	%		34		16	112.5	%
Total Gas	61,500	54,366	13.1	%		577		586	(1.5	)%
Total Electric and Gas Revenues					$	4,228	$	3,933	7.5	%
Purchased Power					$	1,796	$	1,611	11.5	%
Fuel						422		445	(5.2	)%
Total Purchased Power and Fuel					$	2,218	$	2,056	7.9	%
Heating and Cooling Degree-Days	2007	2006	Normal
Heating Degree-Days	3,031	2,556	3,088
Cooling Degree-Days	1,403	1,297	1,216

(a) Full service reflects deliveries to customers taking electric service under tariff rates, which include the cost of electricity, the cost of transmission and distribution of the electricity and a CTC.

(b) Delivery only service reflects customers electing to receive electricity from a competitive electric generation supplier. Revenue from customers choosing a competitive electric generation supplier includes a distribution charge and a CTC.

(c) Other revenue includes transmission revenue from PJM, wholesale revenue and other revenues.

22