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Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2021
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 2021.
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 16, 2020Electric$(11)$(14)8.38 %December 9, 2020January 1, 2021
April 16, 2021Electric51 46 7.36 %December 1, 2021January 1, 2022
PECO - PennsylvaniaSeptember 30, 2020Natural Gas69 29 10.24 %June 22, 2021July 1, 2021
March 30, 2021Electric246 132 
N/A(b)
November 18, 2021January 1, 2022
BGE - Maryland(c)
May 15, 2020 (amended September 11, 2020)Electric203 140 9.50 %December 16, 2020January 1, 2021
Natural Gas108 74 9.65 %
Pepco - District of Columbia(d)
May 30, 2019 (amended June 1, 2020)Electric136 109 9.275 %June 8, 2021July 1, 2021
Pepco - Maryland(e)
October 26, 2020 (amended March 31, 2021)Electric104 52 9.55 %June 28, 2021June 28, 2021
DPL - DelawareMarch 6, 2020 (amended February 2, 2021)Electric23 14 9.60 %September 15, 2021October 6, 2020
ACE - New Jersey(f)
December 9, 2020 (amended February 26, 2021)Electric67 41 9.60 %July 14, 2021January 1, 2022
__________
(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. See discussion of the Clean Energy Law below for details on the transition away from the electric distribution formula rate. 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 2021 approved revenue requirement 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.

ComEd’s 2022 approved revenue requirement above reflects an increase of $37 million for the initial year revenue requirement for 2022 and an increase of $9 million related to the annual reconciliation for 2020. The revenue requirement for 2022 provides for a weighted average debt and equity return on distribution rate base of 5.72% inclusive of an allowed ROE of 7.36%, reflecting the monthly average yields for 30-year treasury bonds plus 580 basis points. The reconciliation revenue requirement for 2020 provides for a weighted average debt and equity return on distribution rate base of 5.69%, inclusive of an allowed ROE of 7.29%, reflecting the monthly yields on 30-year treasury bonds plus 580 basis points less a performance metrics penalty of 7 basis points.
(b)The PECO electric base rate case proceeding was resolved through a settlement agreement, which did not specify an approved ROE.
(c)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, before offsets, in 2021, 2022, and 2023, respectively, and natural gas revenue requirement increases of $53 million, $11 million, and $10 million, before offsets, in 2021, 2022, and 2023, respectively. BGE proposed to use certain tax benefits to fully offset the increases in 2021 and 2022 and partially offset the increase in 2023. However, the MDPSC utilized the tax benefits to fully offset the increases in 2021 and January 2022 such that customer rates remained unchanged. For the remainder of 2022, the MDPSC chose to offset only 25% of the cumulative 2021 and 2022 electric revenue requirement increases and 50% of the cumulative gas revenue requirement increases. Whether certain tax benefits will be used to offset the customer rate increases in 2023 has not been decided, and BGE cannot predict the outcome.
(d)Reflects a cumulative multi-year plan with 18-months remaining in 2021 through 2022. The DCPSC awarded Pepco electric incremental revenue requirement increases of $42 million and $67 million, before offsets, for the remainder of 2021 and 2022, respectively. However, the DCPSC utilized the acceleration of refunds for certain tax benefits along with other rate relief to partially offset the customer rate increases by $22 million and $40 million for the remainder of 2021 and 2022, respectively.
(e)Reflects a three-year cumulative multi-year plan for April 1, 2021 through March 31, 2024. The MDPSC awarded Pepco electric incremental revenue requirement increases of $21 million, $16 million, and $15 million, before offsets, for the 12-month periods ending March 31, 2022, 2023, and 2024, respectively. Pepco proposed to utilize certain tax benefits to fully offset the increase through 2023 and partially offset customer rate increases in 2024. However, the MDPSC only utilized the acceleration of refunds for certain tax benefits to fully offset the increases such that customer rates remain unchanged through March 31, 2022. On February 23, 2022, the MDPSC chose to offset 25% of the cumulative revenue requirement increase through March 31, 2023. Whether certain tax benefits will be used to offset the customer rate increases for the twelve months ended March 31, 2024 has not been decided, and Pepco cannot predict the outcome.
(f)Requested and approved increases are before New Jersey sales and use tax. The order allows ACE to retain approximately $11 million of certain tax benefits which resulted in a decrease to income tax expense in Exelon's, PHI's, and ACE's Consolidated Statements of Operations and Comprehensive Income in the third quarter of 2021.

Pending Distribution Base Rate Case Proceedings
Registrant/JurisdictionFiling DateServiceRequested Revenue Requirement IncreaseRequested ROEExpected Approval Timing
DPL - DelawareJanuary 14, 2022Natural Gas$14 10.30 %First quarter of 2023
DPL - Maryland(a)
September 1, 2021 (amended December 23, 2021)Electric27 10.10 %First quarter of 2022
__________
(a)On January 24, 2022, DPL filed a settlement agreement with the MDPSC. The settlement provides for a revenue requirement increase of $13 million. The 9.60% ROE in the agreement is solely for the purposes of calculating AFUDC and regulatory asset carrying costs. On February 15, 2021, the Chief Public Utility Law Judge issued a proposed order approving the settlement agreement without modification. The proposed order will become a final order of the MDPSC on March 2, 2022, subject to modification or reversal by the MDPSC.
Public Utilities Transmission Rate Filings [Table Text Block]
For 2021, 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 Increase
Total Revenue Requirement Increase(b)
Allowed Return on Rate Base(c)
Allowed ROE(d)
ComEd$33 $12 $45 8.20 %11.50 %
PECO(2)26 24 7.37 %10.35 %
BGE38 27 65 7.35 %10.50 %
Pepco(9)21 12 7.68 %10.50 %
DPL19 33 52 7.20 %10.50 %
ACE27 24 51 7.45 %10.50 %
__________
(a)All rates are effective June 1, 2021 - May 31, 2022, subject to review by interested parties pursuant to review protocols of each Utility Registrant's tariff.
(b)In 2020, ComEd, BGE, Pepco, DPL, and ACE's transmission revenue requirement included a one-time decrease in accordance with the April 24, 2020 settlement agreement related to excess deferred income taxes which now completed has resulted in an increase to the 2021 transmission revenue requirement. In 2020, PECO's transmission revenue requirement included a one-time decrease in accordance with the December 5, 2019 settlement agreement related to refunds which now completed has resulted in an increase to the 2021 transmission revenue requirement.
(c)Represents the weighted average debt and equity return on transmission rate bases.
(d)As part of the FERC-approved settlements 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 2021, the ICC approved the following total increases in ComEd's requested energy efficiency revenue requirement:
Filing DateRequested Revenue Requirement Increase
Approved Revenue Requirement Increase(a)
Approved ROEApproval DateRate Effective Date
June 1, 2021$54 $54 7.36 %November 18, 2021January 1, 2022
_________
(a)ComEd’s 2022 approved revenue requirement above reflects an increase of $55 million for the initial year revenue requirement for 2022 and a decrease of $1 million related to the annual reconciliation for 2020. The revenue requirement for 2022 provides for a weighted average debt and equity return on the energy efficiency regulatory asset and rate base of 5.72% inclusive of an allowed ROE of 7.36%, reflecting the monthly average yields for 30-year treasury bonds plus 580 basis points. The revenue requirement for the 2020 reconciliation year provides for a weighted average debt and equity return on the energy efficiency asset and rate base of 6.26% inclusive of an allowed ROE of 8.46%, which includes an upward performance adjustment that increased the ROE. The performance adjustment can either increase or decrease the ROE based upon the achievement of energy efficiency savings goals. See table below for ComEd's regulatory assets associated with its energy efficiency formula rate.
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 the Registrants' 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 the Utility Registrants' customers.
Exelon
ComEd(a)
PECO
BGE(b)
PHI
Pepco(c)
DPL(c)
ACE
December 31, 2021$43 $1 $— $37 $5 $3 $2 $— 
December 31, 202051 (1)— 45 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 2021 [Member]  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables provide information about the regulatory assets and liabilities of the Registrants as of December 31, 2021 and 2020:
December 31, 2021ExelonComEdPECOBGEPHIPepcoDPLACE
Regulatory assets
Pension and OPEB$2,409 $— $— $— $— $— $— $— 
Pension and OPEB - merger related893 — — — — — — — 
Deferred income taxes883 — 873 — 10 10 — — 
AMI programs - deployment costs145 — — 89 56 30 26 — 
AMI programs - legacy meters186 69 — 29 88 60 21 7 
Electric distribution formula rate annual reconciliations44 44 — — — — — — 
Electric distribution formula rate significant one-time events104 104 — — — — — — 
Energy efficiency costs1,181 1,181 — — — — — — 
Fair value of long-term debt557 — — — 443 — — — 
Fair value of PHI's unamortized energy contracts236 — — — 236 — — — 
Asset retirement obligations145 99 21 19 6 5 — 1 
MGP remediation costs283 266 8 9 — — — — 
Renewable energy219 219 — — — — — — 
Electric energy and natural gas costs96 — — 49 47 29 13 5 
Transmission formula rate annual reconciliations43 — 14 1 28 — 8 20 
Energy efficiency and demand response programs564 — — 283 281 199 79 3 
Under-recovered revenue decoupling157 — — 32 125 125 — — 
Removal costs758 — — 143 615 147 109 360 
DC PLUG charge70 — — — 70 70 — — 
Deferred storm costs49 — — — 49 3 3 43 
COVID-1982 28 33 8 13 10 3 — 
Under-recovered credit loss expense89 60 — — 29 — — 29 
Other327 135 42 30 130 57 18 23 
Total regulatory assets9,520 2,205 991 692 2,226 745 280 491 
        Less: current portion1,296 335 48 215 432 213 68 61 
Total noncurrent regulatory assets$8,224 $1,870 $943 $477 $1,794 $532 $212 $430 
Regulatory liabilities 2021 [Member]  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Liabilities
December 31, 2021ExelonComEdPECOBGEPHIPepcoDPLACE
Regulatory liabilities
Deferred income taxes$4,005 $2,105 $— $819 $1,081 $525 $354 $202 
Nuclear decommissioning3,357 2,760 597 — — — — — 
Removal costs1,694 1,541 — 39 114 20 94 — 
Electric energy and natural gas costs113 25 71 — 17 9 3 5 
Transmission formula rate annual reconciliations8 7 — — 1 1 — — 
Renewable portfolio standards costs500 500 — — — — — — 
Stranded costs35 — — — 35 — — 35 
Other292 6 61 102 58 8 15 10 
Total regulatory liabilities10,004 6,944 729 960 1,306 563 466 252 
        Less: current portion376 185 94 26 68 14 25 28 
Total noncurrent regulatory liabilities$9,628 $6,759 $635 $934 $1,238 $549 $441 $224 
Regulatory assets 2020 [Member]  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
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 expense 107 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 
Regulatory liabilities 2020 [Member]  
Public Utilities, General Disclosures [Line Items]  
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