Preferred Stock (Atlantic City Electric Co [Member])

12 Months Ended

Dec. 31, 2011

Atlantic City Electric Co [Member]

Preferred Stock

(12) PREFERRED STOCK

The preferred stock amounts outstanding as of December 31, 2011 and 2010 are as follows:

	Redemption Price		Shares Outstanding				December 31,
			2011		2010		2011		2010
							(millions of dollars)
4.0% Series of 1944, $100 per share par value	$	105.50		—		24,268	$	—	$	2
4.35% Series of 1949, $100 per share par value	$	101.00		—		2,942		—		—
4.35% Series of 1953, $100 per share par value	$	101.00		—		1,680		—		—
4.10% Series of 1954, $100 per share par value	$	101.00		—		20,504		—		2
4.75% Series of 1958, $100 per share par value	$	101.00		—		8,631		—		1
5.0% Series of 1960, $100 per share par value	$	100.00		—		4,120		—		1
Total Preferred Stock				—		62,145	$	—	$	6

Under the terms of the Company's Articles of Incorporation, ACE has authority to issue up to 799,979 shares of its $100 par value Cumulative Preferred Stock. The shares of each of the series are redeemable solely at the option of the issuer. In addition, ACE has authority to issue up to two million shares of No Par Preferred Stock and three million shares of Preference Stock without par value. During 2011, ACE redeemed all of its outstanding cumulative preferred stock at the redemption prices listed in the table above.