Related Party Transactions (All Registrants)

12 Months Ended

Dec. 31, 2020

Related Party Transactions [Abstract]

Related-Party Transactions (All Registrants)

Related Party Transactions (All Registrants)

Operating revenues from affiliates

Generation

The following table presents Generation’s Operating revenues from affiliates, which are primarily recorded as Purchased power from affiliates and an immaterial amount recorded as Operating and maintenance expense from affiliates at the Utility Registrants:

	For the Years Ended December 31,
	2020		2019		2018
Operating revenues from affiliates:
ComEd(a)(b)	$	330	$	369	$	523
PECO(c)	190		158		128
BGE(d)	315		289		260
PHI	367		353		355
Pepco(e)	279		264		206
DPL(f)	75		70		120
ACE(g)	13		19		29
Other	9		3		2
Total operating revenues from affiliates (Generation)	$	1,211	$	1,172	$	1,268

__________

(a)Generation has an ICC-approved RFP contract with ComEd to provide a portion of ComEd’s electricity supply requirements. Generation also sells RECs and ZECs to ComEd.

(b)For 2020, ComEd’s Purchased power from Generation of $345 million is recorded as Operating revenues from ComEd of $330 million and Purchased power and fuel from ComEd of $15 million at Generation. For 2019, ComEd’s Purchased power from Generation of $376 million is recorded as Operating revenues from ComEd of $369 million and Purchased power and fuel from ComEd of $7 million at Generation.

(c)Generation provides electric supply to PECO under contracts executed through PECO’s competitive procurement process. In addition, Generation has a ten-year agreement with PECO to sell solar AECs.

(d)Generation provides a portion of BGE’s energy requirements under its MDPSC-approved market-based SOS and gas commodity programs.

(e)Generation provides electric supply to Pepco under contracts executed through Pepco's competitive procurement process approved by the MDPSC and DCPSC.

(f)Generation provides a portion of DPL's energy requirements under its MDPSC and DPSC approved market based SOS commodity programs.

(g)Generation provides electric supply to ACE under contracts executed through ACE's competitive procurement process.

PHI

PHI’s Operating revenues from affiliates are primarily with BSC for services that PHISCO provides to BSC.

Operating and maintenance expense from affiliates

The Registrants receive a variety of corporate support services from BSC. Pepco, DPL, and ACE also receive corporate support services from PHISCO. See Note 1 - Significant Accounting Policies for additional information regarding BSC and PHISCO.

The following table presents the service company costs allocated to the Registrants:

	Operating and maintenance from affiliates						Capitalized costs
	For the years ended December 31,						For the years ended December 31,
	2020		2019		2018		2020		2019		2018
Exelon
BSC							$	585	$	516	$	448
PHISCO							61		72		79
Generation
BSC	$	552	$	570	$	652	54		66		67
ComEd
BSC	283		263		265		186		148		135
PECO
BSC	150		149		146		76		88		64
BGE
BSC	170		157		157		132		126		79
PHI
BSC	152		139		147		149		88		102
PHISCO	—		—		—		61		72		79
Pepco
BSC	85		85		89		55		38		40
PHISCO	120		124		137		27		33		32
DPL
BSC	54		52		51		51		25		28
PHISCO	97		100		111		18		20		25
ACE
BSC	45		42		42		40		19		20
PHISCO	87		90		98		16		19		21

Current Receivables from/Payables to affiliates

The following tables present current receivables from affiliates and current payables to affiliates:

December 31, 2020

	Receivables from affiliates:
Payables to affiliates:	Generation			ComEd		PECO		BGE		Pepco		DPL		ACE		BSC		PHISCO		Other		Total
Generation				$	13	$	—	$	—	$	—	$	—	$	—	$	72	$	—	$	22	$	107
ComEd	$	78	(a)			—		—		—		—		—		59		—		9		146
PECO	17			1				—		—		—		—		28		—		4		50
BGE	11			—		—				—		—		—		47		—		3		61
PHI	—			—		—		—		—		—		—		4		—		11		15
Pepco	13			2		—		1				—		—		25		14		—		55
DPL	3			1		—		—		—				—		21		10		1		36
ACE	6			—		—		—		—		—				15		9		1		31
Other	25			5		2		2		2		1		6		—		—				43
Total	$	153		$	22	$	2	$	3	$	2	$	1	$	6	$	271	$	33	$	51	$	544

December 31, 2019

	Receivables from affiliates:
Payables to affiliates:	Generation			ComEd		PECO		BGE		ACE		BSC		PHISCO		Other		Total
Generation				$	27	$	—	$	—	$	—	$	67	$	—	$	23	$	117
ComEd	$	78	(a)			—		—		—		54		—		8		140
PECO	27			—				—		—		25		—		3		55
BGE	28			—		—				—		34		—		4		66
PHI	—			—		—		—		—		4		—		10		14
Pepco	34			—		—		—		—		16		15		1		66
DPL	7			—		—		—		3		10		11		1		32
ACE	7			—		—		—				7		10		1		25
Other	9			1		1		1		1		—		—				13
Total	$	190		$	28	$	1	$	1	$	4	$	217	$	36	$	51	$	528

__________

(a)At December 31, 2020 and 2019, Generation also had a contract liability with ComEd for $50 million and $37 million, respectively, that was included in Other liabilities on Generation’s Consolidated Balance Sheets. At December 31, 2020 and 2019, ComEd had a Current Payable to Generation of $28 million and $41 million, respectively, on its Consolidated Balance Sheets, which consisted of Generation’s Current Receivable from ComEd, partially offset by Generation’s contract liability with ComEd.

Borrowings from Exelon/PHI intercompany money pool

To provide an additional short-term borrowing option that will generally be more favorable to the borrowing participants than the cost of external financing both Exelon and PHI operate an intercompany money pool. Generation, ComEd, PECO, and PHI Corporate participate in the Exelon money pool. Pepco, DPL, and ACE participate in the PHI intercompany money pool.

Noncurrent Receivables from/Payables to affiliates

Generation has long-term payables to ComEd and PECO as a result of the nuclear decommissioning contractual construct whereby, to the extent NDT funds are greater than the underlying ARO at the end of decommissioning, such amounts are due back to ComEd and PECO, as applicable, for payment to their respective customers. See Note 10 — Asset Retirement Obligations for additional information.

The following table presents noncurrent receivables from affiliates at ComEd and PECO which are recorded as noncurrent payables to affiliates at Generation:

	December 31,
	2020		2019
ComEd	$	2,541	$	2,622
PECO	475		480

Long-term debt to financing trusts

The following table presents Long-term debt to financing trusts:

	As of December 31,
	2020						2019
	Exelon		ComEd		PECO		Exelon		ComEd		PECO
ComEd Financing III	$	206	$	205	$	—	$	206	$	205	$	—
PECO Trust III	81		—		81		81		—		81
PECO Trust IV	103		—		103		103		—		103
Total	$	390	$	205	$	184	$	390	$	205	$	184

Long-term debt to affiliates

In connection with the debt obligations assumed by Exelon as part of the Constellation merger, Exelon and subsidiaries of Generation (former Constellation subsidiaries) assumed intercompany loan agreements that mirror the terms and amounts of the third-party debt obligations of Exelon, resulting in intercompany notes payable included in Long-term debt to affiliates in Generation’s Consolidated Balance Sheets and intercompany notes receivable at Exelon Corporate.