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Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2020
Public Utilities, General Disclosures [Line Items]  
Public Utilities Distribution Rate Cases [Table Text Block]
The following tables show the completed and pending distribution base rate case proceedings in 2020.
Completed Distribution Base Rate Case Proceedings
Registrant/JurisdictionFiling DateServiceRequested Revenue Requirement (Decrease) Increase Approved Revenue Requirement (Decrease) Increase Approved ROEApproval DateRate Effective Date
ComEd - Illinois(a)
April 8, 2019Electric$(6)$(17)8.91 %December 4, 2019January 1, 2020
ComEd - Illinois(a)
April 16, 2020Electric(11)(14)8.38 %December 9, 2020January 1, 2021
BGE - Maryland(b)
May 15, 2020 (amended September 11, 2020)Electric137 81 9.50 %December 16, 2020January 1, 2021
Natural Gas91 21 9.65 %
DPL - MarylandDecember 5, 2019 (amended April 23, 2020)Electric17 12 9.60 %July 14, 2020July 16, 2020
DPL - DelawareFebruary 21, 2020 (amended October 9, 2020)Natural Gas7 2 9.60 %January 6, 2021September 21, 2020
__________
(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. The electric distribution formula rate includes decoupling provisions and, as a result, ComEd's electric distribution formula rate revenues are not impacted by abnormal weather, usage per customer, or number of customers. 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 2020 approved revenue requirement above reflects an increase of $51 million for the initial year revenue requirement for 2020 and a decrease of $68 million related to the annual reconciliation for 2018. The revenue requirement for 2020 and the revenue requirement 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 monthly average yields for 30-year treasury bonds plus 580 basis points.

ComEd’s 2021 approved revenue requirement above reflects an increase of $50 million for the initial year revenue requirement for 2021 and a decrease of $64 million related to the annual reconciliation for 2019. The revenue requirement for 2021 and the revenue requirement for 2019 provide for a weighted average debt and equity return on distribution rate base of 6.28% inclusive of an allowed ROE of 8.38%, reflecting the monthly average yields for 30-year treasury bonds plus 580 basis points. See table below for ComEd's regulatory assets associated with its electric distribution formula rate.

(b) Reflects a three-year cumulative multi-year plan for 2021 through 2023. The MDPSC awarded BGE electric revenue requirement increases of $59 million, $39 million, and $42 million in 2021, 2022, and 2023, respectively, and natural gas revenue requirement increases of $53 million, $11 million, and $10 million in 2021, 2022, and 2023, respectively. However, the MDPSC utilized certain tax benefits to fully offset the increases in 2021 so that customer rates will remain unchanged from 2020 to 2021. The MDPSC has deferred a decision on whether to use certain tax benefits to offset the revenue requirement increases in 2022 and 2023 and BGE cannot predict the outcome.
Pending Distribution Base Rate Case Proceedings
Registrant/JurisdictionFiling DateServiceRequested Revenue Requirement IncreaseRequested ROEExpected Approval Timing
PECO - PennsylvaniaSeptember 30, 2020Natural Gas$69 10.95 %Second quarter of 2021
Pepco - District of Columbia(a)
May 30, 2019 (amended June 1, 2020)Electric136 9.7 %Second quarter of 2021
Pepco - Maryland(b)
October 26, 2020Electric110 10.2 %Second quarter of 2021
DPL - Delaware(c)
March 6, 2020 (amended February 2, 2021)Electric23 10.3 %Third quarter of 2021
ACE - New Jersey(d)
December 9, 2020Electric67 10.3 %Fourth quarter of 2021
_________
(a)Pepco filed the multi-year plan enhanced proposal as an alternative to address the impacts of COVID-19. Reflects a three-year cumulative multi-year plan for 2020 through 2022 and requested revenue requirement increases of $73 million in 2022 and $63 million in 2023, to recover capital investments made during 2018 through 2020 and planned capital investments through the end of 2022.
(b)Reflects a three-year cumulative multi-year plan for April 1, 2021 through March 31, 2024 and total requested revenue requirement increases of $56 million effective April 1, 2023 and $54 million effective April 1, 2024 to recover capital investments made in 2019 and 2020 and planned capital investments through March 31, 2024.
(c)The rates went into effect on October 6, 2020, subject to refund.
(d)Requested increases are before New Jersey sales and use tax. ACE intends to put rates into effect on September 8, 2021, subject to refund.
Public Utilities Transmission Rate Filings [Table Text Block]
For 2020, the following total increases/(decreases) were included in the Utility Registrants' electric transmission formula rate updates:
Registrant(a)
Initial Revenue Requirement Increase/(Decrease)Annual Reconciliation Decrease
Total Revenue Requirement Increase/(Decrease)(b)
Allowed Return on Rate Base(c)
Allowed ROE(d)
ComEd$18 $(4)$14 8.17 %11.50 %
PECO5 (28)(23)7.47 %10.35 %
BGE16 (3)4 7.26 %10.50 %
Pepco2 (46)(44)7.81 %10.50 %
DPL(4)(40)(44)7.20 %10.50 %
ACE5 (25)(20)7.40 %10.50 %
__________
(a)All rates are effective June 30, 2020 - May 31, 2021, subject to review by interested parties pursuant to review protocols of each Utility Registrant's tariff.
(b)The decrease in PECO's transmission revenue requirement relates to refunds from December 1, 2017, in accordance with the settlement agreement dated July 22, 2019. The increase in BGE's transmission revenue requirement includes a $9 million reduction related to a FERC approved dedicated facilities charge to recover the costs of providing transmission service to specifically designated load by BGE. ComEd, BGE, Pepco, DPL, and ACE’s transmission revenue requirement include a decrease related to the April 24, 2020 settlement agreement related to excess deferred income taxes. Refer to Transmission-Related Income Tax Regulatory assets below for additional information.
(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 and PECO's 2017 transmission rate cases, the rate of return on common equity is 11.50% and 10.35%, respectively 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% and 55.75%, respectively. 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 2020, the ICC approved the following total increases in ComEd's requested energy efficiency revenue requirement:
Filing DateRequested Revenue Requirement IncreaseApproved Revenue Requirement IncreaseApproved ROEApproval DateRate Effective Date
May 21, 2020$48 $48 
(a)
8.38 %December 2, 2020January 1, 2021
_________
(a)ComEd’s 2021 approved revenue requirement above reflects an increase of $45 million for the initial year revenue requirement for 2021 and an increase of $3 million related to the annual reconciliation for 2019. The revenue requirement for 2021 provides for a weighted average debt and equity return on the energy efficiency regulatory asset and rate base of 6.28% inclusive of an allowed ROE of 8.38%, reflecting the monthly average yields for 30-year treasury bonds plus 580 basis points. The revenue requirement for 2019 provides for a weighted average debt and equity return on the energy efficiency regulatory asset and rate base of 6.56% inclusive of an allowed ROE of 8.96%, which includes an upward performance adjustment that can either increase or decrease the ROE. See table below for ComEd's regulatory assets associated with its energy efficiency formula rate.
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, 2020 and December 31, 2019:
December 31, 2020ExelonComEdPECOBGEPHIPepcoDPLACE
Regulatory assets
Pension and OPEB$3,010 $— $— $— $— $— $— $— 
Pension and OPEB - merger related1,014 — — — — — — — 
Deferred income taxes715 — 705 — 10 10 — — 
AMI programs - deployment costs174 — — 109 65 35 30 — 
AMI programs - legacy meters219 90 — 37 92 68 24 — 
Electric distribution formula rate annual reconciliations(14)(14)— — — — — — 
Electric distribution formula rate significant one-time events117 117 — — — — — — 
Energy efficiency costs982 982 — — — — — — 
Fair value of long-term debt598 — — — 478 — — — 
Fair value of PHI's unamortized energy contracts328 — — — 328 — — — 
Asset retirement obligations135 92 21 18 4 3 — 1 
MGP remediation costs285 271 10 4 — — — — 
Renewable energy301 301 — — — — — — 
Electric energy and natural gas costs95 — — 23 72 37 5 30 
Transmission formula rate annual reconciliations5 — — 2 3 — 2 1 
Energy efficiency and demand response programs572 — — 289 283 203 80 — 
Under-recovered revenue decoupling113 — — 20 93 93 — — 
Stranded costs25 — — — 25 — — 25 
Removal costs701 — — 107 594 151 105 339 
DC PLUG charge100 — — — 100 100 — — 
Deferred storm costs50 — — — 50 5 4 41 
COVID-1981 22 38 10 11 7 4 — 
Under-recovered credit loss expense107 89 — — 18 — — 18 
Other274 78 27 30 147 72 26 15 
Total regulatory assets9,987 2,028 801 649 2,373 784 280 470 
        Less: current portion1,228 279 25 168 440 214 58 75 
Total noncurrent regulatory assets$8,759 $1,749 $776 $481 $1,933 $570 $222 $395 
Schedule of Regulatory Liabilities
December 31, 2020ExelonComEdPECOBGEPHIPepcoDPLACE
Regulatory liabilities
Deferred income taxes$4,502 $2,205 $— $1,001 $1,296 $621 $404 $271 
Nuclear decommissioning3,016 2,541 475 — — — — — 
Removal costs1,649 1,482 — 47 120 20 100 — 
Electric energy and natural gas costs175 34 97 6 38 24 10 4 
Transmission formula rate annual reconciliations52 2 12 — 38 23 9 6 
Renewable portfolio standards costs427 427 — — — — — — 
Stranded costs24 — — — 24 — — 24 
Other221 1 40 85 59 2 17 13 
Total regulatory liabilities10,066 6,692 624 1,139 1,575 690 540 318 
        Less: current portion581 289 121 30 137 46 47 44 
Total noncurrent regulatory liabilities$9,485 $6,403 $503 $1,109 $1,438 $644 $493 $274 
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, 2020$51 $(1)$— $45 $7 $4 $3 $— 
December 31, 2019$63 $3 $— $53 $7 $4 $3 $— 
__________
(a)Reflects ComEd's unrecognized equity returns/(losses) earned/(incurred) 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.
Regulatory assets 2019 [Member]  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
December 31, 2019ExelonComEdPECOBGEPHIPepcoDPLACE
Regulatory assets
Pension and OPEB$2,784 $— $— $— $— $— $— $— 
Pension and OPEB - merger related1,138 — — — — — — — 
Deferred income taxes528 — 518 — 10 10 — — 
AMI programs - deployment costs207 — — 129 78 43 35 — 
AMI programs - legacy meters276 113 12 45 106 79 27 — 
Electric distribution formula rate annual reconciliations34 34 — — — — — — 
Electric distribution formula rate significant one-time events66 66 — — — — — — 
Energy efficiency costs746 746 — — — — — — 
Fair value of long-term debt650 — — — 523 — — — 
Fair value of PHI's unamortized energy contracts443 — — — 443 — — — 
Asset retirement obligations127 85 23 16 3 2 — 1 
MGP remediation costs302 287 11 4 — — — — 
Renewable energy301 301 — — — — — — 
Electric energy and natural gas costs110 — 6 36 68 43 5 20 
Transmission formula rate annual reconciliations11 — — 1 10 1 2 7 
Energy efficiency and demand response programs572 — — 303 269 196 73 — 
Merger integration costs32 — — 2 30 15 8 7 
Under-recovered revenue decoupling37 — — 8 29 29 — — 
Stranded costs37 — — — 37 — — 37 
Removal costs641 — — 67 574 152 100 324 
DC PLUG charge126 — — — 126 126 — — 
Other337 129 25 26 167 76 24 29 
Total regulatory assets9,505 1,761 595 637 2,473 772 274 425 
        Less: current portion1,170 281 41 183 412 188 52 57 
Total noncurrent regulatory assets$8,335 $1,480 $554 $454 $2,061 $584 $222 $368 
Regulatory liabilities 2019 [Member]  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Liabilities
December 31, 2019ExelonComEdPECOBGEPHIPepcoDPLACE
Regulatory liabilities
Deferred income taxes$4,944 $2,297 $— $1,089 $1,558 $725 $477 $356 
Nuclear decommissioning3,102 2,622 480 — — — — — 
Removal costs1,621 1,435 — 58 128 20 108 — 
Electric energy and natural gas costs109 45 56 — 8 — 8 — 
Transmission formula rate annual reconciliations34 6 28 — — — — — 
Other582 337 37 81 83 9 18 26 
Total regulatory liabilities10,392 6,742 601 1,228 1,777 754 611 382 
        Less: current portion406 200 91 33 70 8 37 25 
Total noncurrent regulatory liabilities$9,986 $6,542 $510 $1,195 $1,707 $746 $574 $357