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Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Regulated Operations [Abstract]    
Public Utilities Distribution Rate Cases [Table Text Block]
Completed Distribution Base Rate Case Proceedings
Registrant/Jurisdiction
Filing Date
Requested Revenue Requirement (Decrease) Increase
 
Approved Revenue Requirement (Decrease) Increase
 
Approved ROE
 
Approval Date
Rate Effective Date
ComEd - Illinois (Electric)(a)
April 16, 2018
$
(23
)
 
$
(24
)
 
8.69
%
 
December 4, 2018
January 1, 2019
ComEd - Illinois (Electric)(a)
April 8, 2019
(6
)
 
(17
)
 
8.91
%
 
December 4, 2019
January 1, 2020
PECO - Pennsylvania (Electric)
March 29, 2018
82

 
25

 
N/A

(b) 
December 20, 2018
January 1, 2019
BGE - Maryland
(Natural Gas)
June 8, 2018 (amended October 12, 2018)
61

 
43

 
9.8
%
 
January 4, 2019
January 4, 2019
BGE - Maryland (Electric)
May 24, 2019 (amended December 17, 2019)
74

 
18

 
9.7
%
(d) 
December 17, 2019
December 17, 2019
BGE - Maryland (Natural Gas)
May 24, 2019 (amended December 17, 2019)
59

 
45

 
9.75
%
(d) 
December 17, 2019
December 17, 2019
ACE - New Jersey (Electric)
August 21, 2018 (amended November 19, 2018)
122

(c) 
70

(c) 
9.6
%
 
March 13, 2019
April 1, 2019
Pepco - Maryland (Electric)
January 15, 2019 (amended May 16, 2019)
27

 
10

 
9.6
%
 
August 12, 2019
August 13, 2019
__________
(a)
Pursuant to EIMA and FEJA, ComEd’s electric distribution rates are established through a performance-based formula, which sunsets at the end of 2022. ComEd is required to file an annual update to its electric distribution formula rate on or before May 1st, with resulting rates effective in January of the following year. ComEd’s annual electric distribution formula rate update is based on prior year actual costs and current year projected capital additions (initial year revenue requirement). The update also reconciles any differences between the revenue requirement in effect for the prior year and actual costs incurred from the year (annual reconciliation).

ComEd’s 2018 approved revenue requirement above reflects a decrease of $58 million for the initial year revenue requirement for 2018 and an increase of $34 million related to the annual reconciliation for 2017. The revenue requirement for 2018 and the annual reconciliation for 2017 provides for a weighted average debt and equity return on distribution rate base of 6.52%
inclusive of an allowed ROE of 8.69%, reflecting the average rate on 30-year treasury notes plus 580 basis points. ComEd’s 2019 approved revenue requirement above reflects an increase of $51 million for the initial year revenue requirement for 2019 and a decrease of $68 million related to the annual reconciliation for 2018. The revenue requirement for 2019 and the annual reconciliation for 2018 provides for a weighted average debt and equity return on distribution rate base of 6.51% inclusive of an allowed ROE of 8.91%, reflecting the average rate on 30-year treasury notes plus 580 basis points. See table below for ComEd's regulatory assets associated with its electric distribution formula rate.

During the first quarter of 2018, ComEd revised its electric distribution formula rate to implement revenue decoupling provisions provided for under FEJA. As a result of this revision, ComEd’s electric distribution formula rate revenues are not impacted by abnormal weather, usage per customer or numbers of customers. ComEd began reflecting the impacts of this change in its Operating revenues and electric distribution formula rate regulatory asset in the first quarter of 2017.

(b)
The PECO rate case proceeding was resolved through a settlement agreement, which did not specify an approved ROE.

(c)
Requested and approved increases are before New Jersey sales and use tax.

(d)
ROEs in approved settlement are for the purpose of calculating AFUDC and carrying charges.

Pending Distribution Base Rate Case Proceedings
Registrant/Jurisdiction
Filing Date
Requested Revenue Requirement Increase
Requested ROE
Expected Approval Timing
Pepco - District of Columbia (Electric)(a)
May 30, 2019 (amended September 16, 2019)
$
160

10.3
%
Fourth quarter of 2020
DPL - Maryland (Electric)
December 5, 2019
19

10.3
%
Third quarter of 2020
_________
(a)
Reflects a three-year cumulative multi-year plan and total requested revenue requirement increases of $84 million, $40 million and $36 million for years 2020, 2021, and 2022, respectively, to recover capital investments made in 2018 and 2019 and planned capital investments from 2020 to 2022.
  
Public Utilities Transmission Rate Filings [Table Text Block]
For 2019, the following total increases/(decreases) were included in ComEd’s, BGE’s, Pepco's, DPL's and ACE's electric transmission formula rate filings:
Registrant
Initial Revenue Requirement Increase/(Decrease)
Annual Reconciliation (Decrease)/Increase
Total Revenue Requirement Increase/(Decrease)

Allowed Return on Rate Base(c)
Allowed ROE(d)
ComEd(a)
$
21

$
(16
)
$
5


8.21
%
11.50
%
BGE(a)
(10
)
(23
)
(19
)
(b) 
7.35
%
10.50
%
Pepco
15

11

26


7.75
%
10.50
%
DPL
17

(1
)
16


7.14
%
10.50
%
ACE
11

(2
)
9


7.79
%
10.50
%
__________
(a)
The time period for any formal challenges to the annual transmission formula rate update filings expired with no formal challenges submitted
(b)
The change in BGE's transmission revenue requirement includes a FERC approved dedicated facilities charge of $14 million to recover the costs of providing transmission service to specifically designated load by BGE.
(c)
Represents the weighted average debt and equity return on transmission rate bases.
(d)
As part of the FERC-approved settlement of ComEd’s 2007 transmission rate case, the rate of return on common equity is 11.50%, inclusive of a 50-basis-point incentive adder for being a member of a RTO, and the common equity component of the ratio used to calculate the weighted average debt and equity return for the transmission formula rate is currently capped at 55%. As part of the FERC-approved settlement of the ROE complaint against BGE, Pepco, DPL and ACE, the rate of return on common equity is 10.50%, inclusive of a 50-basis-point incentive adder for being a member of a RTO.
  
Public Utilities Energy Efficiency Revenue [Table Text Block]
During 2019, the ICC approved the following total increases in ComEd's requested energy efficiency revenue requirement:
Filing Date
Requested Revenue Requirement Increase
Approved Revenue Requirement Increase
 
Approved ROE
Approval Date
Rate Effective Date
May 23, 2019
$
51

$
50

(a) 
8.91
%
November 26, 2019
January 1, 2020
_________
(a)
ComEd’s 2020 approved revenue requirement above reflects an increase of $53 million for the initial year revenue requirement for 2020 and a decrease of $3 million related to the annual reconciliation for 2018. The revenue requirement for 2020 provides for a weighted average debt and equity return on the energy efficiency regulatory asset and rate base of 6.51% inclusive of an allowed ROE of 8.91%, reflecting the average rate on 30-year treasury notes plus 580 basis points. See table below for ComEd's regulatory assets associated with its energy efficiency formula rate.
  
Public Utilities Transmission Rate Order [Table Text Block]
The Utility Registrants recorded the following payables to/receivables from PJM and related regulatory assets/liabilities in 2018 and have been refunding or recovering these amounts through electric distribution customer rates. Generation recorded a $41 million net payable to PJM and a pre-tax charge within Purchased power and fuel expense in Exelon's and Generation's Consolidated Statements of Operations and Comprehensive Income.
 
PJM Receivable
PJM Payable
Regulatory Asset
Regulatory Liability
Exelon
$
220

$
176

$
136

$
221

Generation(a)
—

41

—

—

ComEd
122

—

—

122

PECO
85

—

—

85

BGE
—

51

51

—

PHI
13

84

85

14

Pepco
—

84

84

—

DPL
10

—

—

10

ACE
3

—

1

4

__________
(a)
Does not include an offsetting receivable from New Jersey Utilities of $16 million as of December 31, 2018.
  
Schedule of Regulatory Assets
The following tables provide information about the regulatory assets and liabilities of Exelon, ComEd, PECO, BGE, PHI, Pepco, DPL and ACE as of December 31, 2019 and December 31, 2018:
December 31, 2019
Exelon
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Regulatory assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and other postretirement benefits
$
2,784

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Pension and other postretirement benefits - Merger related
1,138

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Deferred income taxes
528

 
—

 
518

 
—

 
10

 
10

 
—

 
—

AMI programs - Deployment costs
207

 
—

 
—

 
129

 
78

 
43

 
35

 
—

AMI programs - Legacy Meters
276

 
113

 
12

 
45

 
106

 
79

 
27

 
—

Electric distribution formula rate annual reconciliations
34

 
34

 
—

 
—

 
—

 
—

 
—

 
—

Electric distribution formula rate significant one-time events
66

 
66

 
—

 
—

 
—

 
—

 
—

 
—

Energy efficiency costs
746

 
746

 
—

 
—

 
—

 
—

 
—

 
—

Fair value of long-term debt
650

 
—

 
—

 
—

 
523

 
—

 
—

 
—

Fair value of PHI's unamortized energy contracts
443

 
—

 
—

 
—

 
443

 
—

 
—

 
—

Asset retirement obligations
127

 
85

 
23

 
16

 
3

 
2

 
—

 
1

MGP remediation costs
302

 
287

 
11

 
4

 
—

 
—

 
—

 
—

Renewable energy
301

 
301

 
—

 
—

 
—

 
—

 
—

 
—

Electric Energy and Natural Gas Costs
110

 
—

 
6

 
36

 
68

 
43

 
5

 
20

Transmission formula rate annual reconciliations
11

 
—

 
—

 
1

 
10

 
1

 
2

 
7

Energy efficiency and demand response programs
572

 
—

 
—

 
303

 
269

 
196

 
73

 
—

Merger integration costs
32

 
—

 
—

 
2

 
30

 
15

 
8

 
7

Under-recovered revenue decoupling
37

 
—

 
—

 
8

 
29

 
29

 
—

 
—

Securitized stranded costs
37

 
—

 
—

 
—

 
37

 
—

 
—

 
37

Removal costs
641

 
—

 
—

 
67

 
574

 
152

 
100

 
324

DC PLUG charge
126

 
—

 
—

 
—

 
126

 
126

 
—

 
—

Other
337

 
129

 
25

 
26

 
167

 
76

 
24

 
29

Total regulatory assets
9,505

 
1,761

 
595

 
637

 
2,473

 
772

 
274

 
425

        Less: current portion
1,170

 
281

 
41

 
183

 
412

 
188

 
52

 
57

Total noncurrent regulatory assets
$
8,335

 
$
1,480

 
$
554

 
$
454

 
$
2,061

 
$
584

 
$
222

 
$
368
December 31, 2018
Exelon
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Regulatory assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pension and other postretirement benefits
$
2,553

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Pension and other postretirement benefits - Merger related
1,266

 
—

 
—

 
—

 
—

 
—

 
—

 
—

Deferred income taxes
414

 
—

 
404

 
—

 
10

 
10

 
—

 
—

AMI programs - Deployment costs
234

 
—

 
—

 
145

 
89

 
50

 
39

 
—

AMI programs - Legacy Meters
328

 
136

 
24

 
48

 
120

 
90

 
30

 
—

Electric distribution formula rate annual reconciliations
158

 
158

 
—

 
—

 
—

 
—

 
—

 
—

Electric distribution formula rate significant one-time events
81

 
81

 
—

 
—

 
—

 
—

 
—

 
—

Energy efficiency costs
472

 
472

 
—

 
—

 
—

 
—

 
—

 
—

Fair value of long-term debt
702

 
—

 
—

 
—

 
569

 
—

 
—

 
—

Fair value of PHI's unamortized energy contracts
561

 
—

 
—

 
—

 
561

 
—

 
—

 
—

Asset retirement obligations
118

 
79

 
22

 
16

 
1

 
1

 
—

 
—

MGP remediation costs
326

 
309

 
17

 
—

 
—

 
—

 
—

 
—

Renewable energy
249

 
249

 
—

 
—

 
—

 
—

 
—

 
—

Electric Energy and Natural Gas Costs
193

 
—

 
49

 
51

 
93

 
84

 
—

 
9

Transmission formula rate annual reconciliations
41

 
6

 
—

 
4

 
31

 
10

 
14

 
7

Energy efficiency and demand response programs
545

 
—

 
1

 
289

 
255

 
188

 
67

 
—

Merger integration costs
42

 
—

 
—

 
3

 
39

 
18

 
11

 
10

Under-recovered revenue decoupling
27

 
—

 
—

 
2

 
25

 
25

 
—

 
—

Securitized stranded costs
50

 
—

 
—

 
—

 
50

 
—

 
—

 
50

Removal costs
564

 
—

 
—

 
—

 
564

 
158

 
97

 
309

DC PLUG charge
159

 
—

 
—

 
—

 
159

 
159

 
—

 
—

Deferred storm costs
41

 
—

 
—

 
—

 
41

 
9

 
4

 
28

Other
303

 
110

 
24

 
17

 
162

 
79

 
28

 
13

Total regulatory assets
9,427

 
1,600

 
541

 
575


2,769

 
881

 
290

 
426

        Less: current portion
1,190

 
293

 
81

 
177

 
457

 
238

 
59

 
40

Total noncurrent regulatory assets
$
8,237

 
$
1,307

 
$
460

 
$
398


$
2,312

 
$
643

 
$
231

 
$
386
Schedule of Regulatory Liabilities
December 31, 2019
Exelon
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Regulatory liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred income taxes
$
4,944

 
$
2,297

 
$
—

 
$
1,089

 
$
1,558

 
$
725

 
$
477

 
$
356

Nuclear decommissioning
3,102

 
2,622

 
480

 
—

 
—

 
—

 
—

 
—

Removal costs
1,621

 
1,435

 
—

 
58

 
128

 
20

 
108

 
—

Electric Energy and Natural Gas Costs
109

 
45

 
56

 
—

 
8

 
—

 
8

 
—

Transmission formula rate annual reconciliations
34

 
6

 
28

 
—

 
—

 
—

 
—

 
—

Other
582

 
337

 
37

 
81

 
83

 
9

 
18

 
26

Total regulatory liabilities
10,392

 
6,742

 
601

 
1,228


1,777

 
754

 
611

 
382

        Less: current portion
406

 
200

 
91

 
33

 
70

 
8

 
37

 
25

Total noncurrent regulatory liabilities
$
9,986

 
$
6,542

 
$
510

 
$
1,195


$
1,707

 
$
746

 
$
574

 
$
357
December 31, 2018
Exelon
 
ComEd
 
PECO
 
BGE
 
PHI
 
Pepco
 
DPL
 
ACE
Regulatory liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred income taxes
$
5,228

 
$
2,394

 
$
—

 
$
1,132

 
$
1,702

 
$
798

 
$
510

 
$
394

Nuclear decommissioning
2,606

 
2,217

 
389

 
—

 
—

 
—

 
—

 
—

Removal costs
1,547

 
1,368

 
—

 
52

 
127

 
20

 
107

 
—

Electric Energy and Natural Gas Costs
294

 
137

 
132

 
6

 
19

 
—

 
18

 
1

Other
528

 
227

 
75

 
79

 
100

 
11

 
30

 
25

Total regulatory liabilities
10,203

 
6,343

 
596

—

1,269


1,948

 
829

 
665

 
420

        Less: current portion
644

 
293

 
175

 
77

 
84

 
7

 
59

 
18

Total noncurrent regulatory liabilities
$
9,559

 
$
6,050

 
$
421

 
$
1,192


$
1,864

 
$
822

 
$
606

 
$
402
Public Utilities General Disclosures [Table Text Block]
The following table presents authorized amounts capitalized for ratemaking purposes related to earnings on shareholders’ investment that are not recognized for financial reporting purposes in Exelon's and the Utility Registrant's Consolidated Balance Sheets. These amounts will be recognized as revenues in the related Consolidated Statements of Operations and Comprehensive Income in the periods they are billable to our customers.
 
Exelon
 
ComEd(a)
 
PECO
 
BGE(b)
 
PHI
 
Pepco(c)
 
DPL(c)
 
ACE
December 31, 2019
$
63

 
$
3

 
$
—

 
$
53

 
$
7

 
$
4

 
$
3

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
$
65

 
$
8

 
$
—

 
$
49

 
$
8

 
$
5

 
$
3

 
$
—

__________
(a)
Reflects ComEd's unrecognized equity returns earned for ratemaking purposes on its electric distribution formula rate regulatory assets.
(b)
BGE's authorized amounts capitalized for ratemaking purposes primarily relate to earnings on shareholders' investment on its AMI programs.
(c)
Pepco's and DPL's authorized amounts capitalized for ratemaking purposes relate to earnings on shareholders' investment on their respective AMI Programs and Energy Efficiency and Demand Response Programs. The earnings on energy efficiency are on Pepco DC and DPL DE programs only.