Subsequent Events (Exelon, PHI, Pepco, DPL, and ACE)

6 Months Ended

Jun. 30, 2020

Subsequent Event [Line Items]

Subsequent Events [Text Block]

Subsequent Events (Exelon, PHI, Pepco, DPL, and ACE)

Sale of Transmission Tower Attachment Agreements

On July 1, 2020, Pepco, DPL and ACE each entered into an agreement to sell a 60% undivided interest in their respective portfolios of transmission tower attachment agreements with telecommunications companies to an unrelated owner and manager of communication infrastructure (the Buyer). As part of the transaction, the Buyer will manage the day-to-day operations of the jointly-owned agreements with telecommunications companies for a period of 35 years. In addition, for an initial period of three years for two, two-year extensions that are subject to certain conditions, the Buyer has the exclusive right to enter into new agreements with telecommunications companies and to receive a 30% undivided interest in those new agreements. As a result of the transaction, Pepco, DPL, and ACE received cash and recorded liabilities of $98 million, $13 million, and $13 million, respectively, in the third quarter of 2020.