EX-99.1 2 d524679dex991.htm 2012 FACT BOOK 2012 Fact Book

Exhibit 99.1

 

LOGO


Introduction

     1   

Exelon at a Glance

  

Profile, Vision and Quick Facts

     2   

Company Overview

     3   

Service Area and Generation Fuel Mix

  

Map of Exelon Service Area and Selected Generating Assets

and 2012 Generation Fuel Mix Exelon

     4   

Generation Capacity

     5   

Credit and Liquidity for Exelon and Operating Companies

  

Credit Ratings, Credit Facilities and Commercial Paper

     5   

Long Term Debt Outstanding as of December 31, 2012

  

Exelon Corporation

     6   

Exelon Generation

     6   

ComEd

     7   

PECO

     8   

BGE

     9   

Federal Regulation

  

Federal Energy Regulatory Commission (FERC),
ComEd Electric Transmission Rate Cases, BGE Electric Transmission Rate Cases

     10   

State Regulation

  

Illinois Commerce Commission (ICC),
ComEd Electric Distribution Rate Cases and Average Residential Rate

     11, 12   

Pennsylvania Public Utility Commission (PUC),
PECO Electric and Gas Rate Cases and Average Residential Rate

     13   

Maryland Public Service Commission (PSC),
BGE Electric and Gas Distribution Rate Cases and Average Residential Rate

     14   

Capital Structure and Capitalization Ratios for Exelon and Operating Companies

     15   

Reconciliation of Adjusted (non-GAAP) Operating Earnings to GAAP

  

Consolidated Statements of Operations

  

Exelon Corporation

     16   

Exelon Generation

     17   

ComEd

     18   

PECO

     19   

BGE

     20   

Supply and Sales Statistics

  

Exelon Generation – Annual Electric Supply and Sales Statistics

     21   

Exelon Generation – Electric Supply and Sales by Quarter

     22   

ComEd-Electric Sales Statistics, Revenue, and Customer Detail

     23   

PECO-Electric Sales Statistics, Revenue, and Customer Detail

     24   

PECO-Gas Sales Statistics, Revenue, and Customer Detail

     25   

Exelon Generation – Generating Resources

  

Total Owned Generating Capacity

     26-29   

Exelon Nuclear Fleet and Nuclear Operating Data

     30-31   

Fossil Emissions and Emission Reduction Technology Summary

     32-35   

Exelon Generation – Total Contracted Generation Capacity

     36   


LOGO

To the Financial Community,

The Exelon Fact Book provides historical financial and operating information to assist in the analysis of Exelon and its operating companies. Please refer to the SEC filings of Exelon and its subsidiaries, including the annual Form 10-K and quarterly Form 10-Q, for more comprehensive financial statements and information.

For more information about Exelon or to send e-mail inquiries, visit www.exeloncorp.com.

 

              Investor Information

   Stock Symbol: EXC   

              Exelon Corporation

   Common stock is listed on the   

              Investor Relations

   New York and Chicago stock exchanges.   

              10 South Dearborn Street

     

              Chicago, IL 60603

     

              312.394.2345

     

 

Information in this Fact Book is current as of December 31, 2012 unless otherwise noted.

This publication contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from the forward-looking statements made by Exelon Corporation, Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company and Exelon Generation Company, LLC (Registrants) include those factors discussed herein, as well as those discussed in (1) Exelon’s 2012 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 19; and (2) other factors discussed in filings with the Securities and Exchange Commission by the Registrants. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of 12/31/12. None of the Registrants undertakes any obligation to publicly release any revisions to its forward-looking statements to reflect events or circumstances after the date of this publication.


LOGO

 

 

 

 

Company Profile

Headquartered in Chicago, Exelon a leading competitive energy provider, with operations and business activities in 47 states, the District of Columbia and Canada. The company is one of the largest competitive U.S. power generators, with approximately 35,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Constellation, Exelon’s competitive retail and wholesale energy business, provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon’s utilities deliver electricity and natural gas to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO).

Our Vision: Performance that drives progress

At Exelon, we believe that our high-performance energy is the engine of progress. Our commitment to excellence in everything we do means that we are driven to learn and grow, challenging ourselves to constantly adapt, enhance and advance. Every day we focus on maximizing the potential of energy. Safely. Reliably. Sustainably. We vigorously compete to give our customers greater choice and value, and drive innovations that help businesses function more effectively and help people live better. Our end-to-end perspective across the energy business, coupled with our ingenuity and commitment, gives us the insight to seize the opportunities of today, while maintaining the focus and long-term view to tackle the challenges of tomorrow. We make energy work harder because we believe that clean, affordable energy is the key to a brighter, more sustainable future—where our customers succeed, our communities thrive and our nation prospers.

Our Values

We are dedicated to safety.

We actively pursue excellence.

We innovate to better serve our customers.

We act with integrity and are accountable to our communities and the environment.

We succeed as an inclusive and diverse team.

 

Quick Facts 2012

 

     

$23.5

billion in operating revenues

 

$78.5

billion in assets

 

6.6

million electric customers

 

1.2

million gas customers

  

~26,000

employees

 

7,350

circuit miles of electric transmission lines

 

~35,000

MW U.S. generating capacity

  

~165

terawatt-hours of electric

load served

 

415

billion cubic feet

of natural gas served

 

$2.10

annual dividend

rate per share(a)

 

(a) Exelon’s Board of Directors declared the first quarter 2013 dividend of $0.525 per share and approved a revised dividend policy going forward. The first quarter dividend is based on our previous level of $2.10 per share on an annualized basis, while the new dividend contemplates a regular $0.31 per share quarterly dividend beginning in the second quarter of 2013 (or $1.24 per share on an annualized basis). Exelon intends to maintain the normal cadence of quarterly dividend declarations by the Board, so the Board will take formal action to declare the next dividend in the second quarter.

 

 

 

        2


LOGO

 

 

 

 

LOGO

 

Exelon Generation is one of the largest competitive power generators in the nation, with owned generating assets totaling approximately 35,000 megawatts. With strong positions in the Midwest, Mid-Atlantic and Texas, Exelon is the largest owner and operator of nuclear plants in the United States and maintains a growing renewable energy development business headquartered in Baltimore.

 

Constellation, headquartered in Baltimore, is a leading competitive wholesale and retail supplier of power, natural gas and energy products and services for homes and businesses across the continental United States and in the Canadian provinces of Alberta, British Columbia and Ontario. Constellation’s retail business serves approximately 100,000 business and public sector customers, and approximately 1 million residential customers. The company is among the market leaders in commercial solar installations, as well as energy efficiency and load response products and services.

 

Exelon’s delivery companies – BGE, ComEd, and PECO – work hard to keep the lights on and the gas flowing for more than 6.6 million customers.

Baltimore Gas and Electric Company (BGE) is a regulated electricity transmission and distribution company and natural gas distribution company with a combined service area encompassing Baltimore City and all or part of 10 central Maryland counties. BGE serves approximately 1.2 million electric customers in a 2,300-square-mile territory and approximately 655,000 natural gas customers in an 800-square-mile territory.

Commonwealth Edison Company (ComEd) is a regulated electricity transmission and delivery company with a service area in northern Illinois, including the City of Chicago, of approximately 11,400 square miles and an estimated population of 9.3 million. ComEd has approximately 3.8 million customers.

PECO Energy Company (PECO) is a regulated electricity transmission and distribution company and natural gas distribution company with a combined service area in southeastern Pennsylvania, including the City of Philadelphia, of approximately 2,100 square miles and an estimated population of 4.0 million. PECO has approximately 1.6 million electric customers and 497,000 natural gas customers.

 

 

 

 

3        


LOGO

 

 

 

 

Exelon Service Area and Selected Generation Assets as of December 31, 2012

 

LOGO

 

 

        4


LOGO

 

 

 

Credit Ratings as of February 28, 2013

 

    

 

Moody’s Investors

Service

  

(a) 

   

 

Standard & Poor’s

Corporation

  

(b) 

    Fitch Ratings (c) 

 

 

Exelon Corporation

      

Senior Unsecured Debt

     Baa2        BBB     BBB

Commercial Paper

     P2        A2        F2   

Exelon Generation

      

Senior Unsecured Debt

     Baa2        BBB        BBB

Commercial Paper

     P2        A2        F2   

BGE

      

Senior Secured Debt

     A2        N/A        A

Senior Unsecured Debt

     Baa1        BBB     BBB

Commercial Paper

     P2        A2        F2   

ComEd

      

Senior Secured Debt

     A3        A     BBB

Senior Unsecured Debt

     Baa2        BBB        BBB   

Commercial Paper

     P2        A2        F3   

PECO

      

Senior Secured Debt

     A1        A     A   

Senior Unsecured Debt

     A3        N/A        A

Commercial Paper

     P2        A2        F2   

 

(a) On February 7, 2013, Moody’s affirmed the issuer rating and senior unsecured ratings of Exelon at Baa2 and downgraded Exelon Generation’s issuer rating and senior unsecured rating to Baa2 from Baa1. The outlook for both is stable. Utility ratings were unaffected.
(b) All ratings at S&P have a stable outlook.
(c) On February 8, 2013, Fitch affirmed the issuer default ratings and instrument ratings of Exelon and all its subsidiaries. Additionally, Fitch placed ComEd on positive outlook. All other outlooks are stable.

Credit Facilities and Commercial Paper as of February 28, 2013

 

      BGE      ComEd     PECO     Generation    

Exelon

Corporate

    Total  
(in millions)                                      

Unsecured Revolving Credit Facilities(a)

     $600         $1,000        $600        $5,675        $500        $8,375   

Outstanding Facility Draws

                                           

Outstanding Letters of Credit

                    (1     (1,682     (2     (1,685

Available Capacity under Facilities(b)

     600         1,000        599        3,993        498        6,690   

Outstanding Commercial Paper

             (93                          (93

Available Capacity less Outstanding Comm. Paper

     $600         $907        $599        $3,993        $498        $6,597   

 

(a) Equals aggregate bank commitments under revolving credit agreements. Excludes commitments from Exelon’s Community and Minority Bank Credit Facility.
(b) Represents unused bank commitments under the borrower’s credit agreements net of outstanding letters of credit and credit facility draws. The amount of commercial paper outstanding does not reduce the available capacity under the credit agreements.

 

 

 

5        


LOGO

 

 

 

 

Exelon Corporation

 

Series  

        Interest

Rate

    

Date

        Issued

    

        Maturity

Date

    

Total Debt

    Outstanding

    

        Current

Portion

    

        Long-Term

Debt

 

 

 
(in millions)                                         

Senior Notes Payable

                

2005 Senior Notes Payable

    4.90%         6/9/05         6/15/15         $800         $–         $800   

2005 Senior Notes

    5.625%         6/9/05         6/15/35         500                 500   

 

 

Total Senior Notes Payable

             $1,300         $–         $1,300   

 

 

Unamortized Debt Disc. & Prem. & Fair Value Ammortization, Net

  

     21                 21   

BGE Debt Fair Value Adjustment(a)

  

     249                 249   

 

 

Total Long-Term Debt

  

     $1,570         $–         $1,570   

 

 

Maturities

    2013         2014         2015         2016         2017      
                    $800                      

 

(a)  This adjustment is held at Exelon per the determination to not apply push-down accounting to BGE.

 

Exelon Generation

 

     

  

Series  

Interest

Rate

    

Date

Issued

    

Maturity

Date

    

Total Debt

Outstanding

    

Current

Portion

    

Long-Term

Debt

 

 

 
(in millions)                                         

Senior Notes

                

2003 Senior Unsecured Notes

    5.35%         12/19/03         1/15/14         $500         $–         $500   

2007 Senior Unsecured Notes

    6.20%         9/28/07         10/1/17         700                 700   

2009 Senior Unsecured Notes

    5.20%         9/23/09         10/1/19         600                 600   

2010 Senior Unsecured Notes

    4.00%         9/30/10         10/1/20         550                 550   

2012 Senior Unsecured Notes

    4.25%         6/18/12         6/15/22         523                 523   

2009 Senior Unsecured Notes

    6.25%         9/23/09         10/1/39         900                 900   

2010 Senior Unsecured Notes

    5.75%         9/30/10         10/1/41         350                 350   

2012 Senior Unsecured Notes

    5.60%         6/18/12         6/15/42         788                 788   

CEG Senior Notes(a)

    4.55%         6/13/03         6/15/15         550                 550   

CEG Senior Notes(a)

    5.15%         12/14/10         12/1/20         550                 550   

CEG Senior Notes(a)

    7.60%         3/26/02         4/1/32         258                 258   

CEG Senior Notes(a)

    8.625%         6/27/08         6/15/63         450                 450   

Exelon Wind

    2.00%         12/10/10         7/31/17         2                 2   

 

 

Total Senior Notes

             $6,721         $–         $6,721   

 

 

Non Regulated Business

                

Pollution Control Loan(b)

    4.10%         12/20/84         7/1/14         $20         $20         $–   

Solar Revolver

    1.96%         7/7/11         7/7/14         113                 113   

CEU Credit Agreement

    2.21%         7/22/11         7/22/16         72                 72   

Clean Horizons Solar Term Loan Agreement

    2.56%         9/7/12         9/7/30         38         2         36   

Sacramento PV Energy Loan Agreement

    2.77%         7/26/11         12/31/30         39         3         36   

Denver Airport Solar Loan Agreement

    5.50%         6/28/11         6/30/31         7                 7   

Holyoke Solar Loan Agreement

    5.25%         10/25/11         12/31/31         11                 11   

AVSR1-Draws

    2.33%–3.09%         various         1/5/37         220                 220   

 

 

Total Non Regulated Business

             $520         $25         $495   

 

 

Notes Payable

                

Capital Leases

             $30         $3         $27   

 

 

Unamortized Debt Discount & Premium, Fair Value Amortization, Net

  

     13                 13   

CEG Senior Notes Fair Market Value Adjustment

  

     199                 199   

 

 

Total Long-Term Debt

             $7,483         $28         $7,455   

 

 

Maturities

    2013         2014         2015         2016         2017      
    $28         $616         $553         $76         $706      

 

(a) These notes represent inter company loan agreements between Exelon and Generation that mirror the terms and amounts of the third-party obligations of Exelon.
(b) Subject to the holder having the option to put the bonds back to Generation; as such they are classified in the current portion of long-term debt.

 

 

 

        6


LOGO

 

 

 

ComEd

 

Series   

    Interest

Rate

    

Date

          Issued

    

      Maturity

Date

    

Total Debt

      Outstanding

   

        Current

Portion

    

        Long-Term

Debt

 

 

 
(in millions)                                         

First Mortgage Bonds

  

          

92

     7.625%         4/15/93         4/15/13         $125        $125         $–   

94

     7.50%         7/1/93         7/1/13         127        127           

110

     1.63%         1/18/11         1/15/14         600                600   

Pollution Control-1994C

     5.85%         1/15/94         1/15/14         17                17   

101

     4.70%         4/7/03         4/15/15         260                260   

104

     5.95%         8/28/06         8/15/16         415                415   

106

     6.15%         9/10/07         9/15/17         425                425   

108

     5.80%         3/27/08         3/15/18         700                700   

109

     4.00%         8/2/10         8/1/20         500                500   

111

     1.95%         9/7/11         9/1/16         250                250   

112

     3.40%         9/7/11         9/1/21         350                350   

100

     5.875%         1/22/03         2/1/33         253                253   

103

     5.90%         3/6/06         3/15/36         625                625   

107

     6.45%         1/16/08         1/15/38         450                450   

113

     3.80%         10/1/12         10/1/42         350                350   

 

 

Total First Mortgage Bonds

  

        $5,447        $252         $5,195   

 

 

Notes Payable

                

Notes Payable

     6.95%         7/16/98         7/15/18         $140        $–         $140   

 

 

Total Notes Payable

              $140        $–         $140   

 

 

Long-Term Debt To Financing Trusts

  

          

Subordinated Debentures
to ComEd Financing III

     6.35%         3/17/03         3/15/33         $206        $–         $206   

 

 

Total Long-Term Debt to Financing Trusts

  

        $206        $–         $206   

 

 

Unamortized Debt Disc. & Prem., Net

  

     (20             (20

 

 

Total Long-Term Debt

  

        $5,773        $252         $5,521   

 

 
Note: Amounts may not add due to rounding.                      

Maturities

     2013         2014         2015         2016        2017      
     $252         $617         $260         $665        $425      

 

 

 

7        


LOGO

 

 

 

PECO

 

Series   

          Interest

Rate

    

Date

          Issued

    

          Maturity

Date

    

Total Debt

        Outstanding

   

          Current

Portion

    

        Long-Term

Debt

 

 

 
(in millions)                                         

First Mortgage Bonds (FMB)

  

          

FMB

     5.60%         10/2/08         10/15/13         300        $300           

FMB

     5.00%         3/26/09         10/1/14         250                250   

FMB

     5.35%         3/3/08         3/1/18         500                500   

FMB

     2.38%         9/17/12         9/15/22         350                350   

FMB

     5.90%         4/23/04         5/1/34         75                75   

FMB

     5.95%         9/25/06         10/1/36         300                300   

FMB

     5.70%         3/19/07         3/15/37         175                175   

 

 

Total First Mortgage Bonds

  

        $1,950        $300         $1,650   

 

 

Long-Term Debt to Financing Trusts

  

          

PECO Energy Capital Trust III

     7.38%         4/6/98         4/6/28         $81        $–         $81   

 

 

PECO Energy Capital Trust IV

     5.75%         6/24/03         6/15/33         103                103   

 

 

Total Long-Term Debt to Financing Trusts

  

     $184        $–         $184   

 

 

Unamortized Debt Discount & Premium, Net

  

     (3             (3

 

 

Total Long-Term Debt

  

     $2,131        $300         $1,831   

 

 

Maturities

     2013         2014         2015         2016        2017      
     $300         $250                             

 

 

 

        8


LOGO

 

 

 

BGE

 

Series   

      Interest

Rate

    

Date

      Issued

    

      Maturity

Date

    

Debt

      Outstanding

   

      Current

Portion

    

      Long-Term

Debt

 

 

 
(in millions)                                         

Senior Notes

                

Senior Notes due 7/1/13

     6.125%         6/26/08         7/1/13         $400        $400         $–   

Senior Notes due 10/1/16

     5.90%         10/13/06         10/1/16         300                300   

Senior Notes due 11/15/21

     3.50%         11/16/11         11/15/21         300                300   

Senior Notes due 8/15/22

     2.80%         8/17/12         8/15/22         250                250   

Senior Notes due 6/15/33

     5.20%         6/20/03         6/15/33         200                200   

Senior Notes due 10/1/36

     6.35%         10/13/06         10/1/36         400                400   

 

 

Total Senior Notes

  

        $1,850        $400         $1,450   

 

 

Rate Stabilization Bonds

  

          

BGE Securitization due 2017

     5.72%–5.82%         6/28/07         4/1/17         $332        $67         $265   

 

 

Total Rate Stabilization Bonds

  

        $332        $67         $265   

 

 

Deferrable Interest Subordinated Debentures

  

          

Trust Preferred Debentures
due 2043

     6.20%         11/21/03         10/15/43         $258        $–         $258   

Total Deferrable Interest Suburdinated Debentures

  

     $258        $–         $258   

 

 

Unamortized Debt Discount & Premium, Net

  

     (4             (4

 

 

Total Long-Term Debt

  

        $2,436        $467         $1,969   

 

 

Maturities

     2013         2014         2015         2016        2017      
     $467         $70         $75         $379        $41      

 

 

 

9        


LOGO

 

 

Federal Energy Regulatory Commission (FERC)

(www.ferc.gov)

The FERC has five full-time members, each appointed by the President of the United States and confirmed by the U.S. Senate. The Commissioners serve for staggered five-year terms. No more than three Commissioners may belong to the same political party. The Chairman is designated by the President.

 

Commissioner   Party Affiliation      Service Began      Term Ends      Professional Experience

 

Jon Wellinghoff (Chairman)

  Democrat      7/06      6/13     

Attorney, practice focused on energy law and utility regulation; staff advisor to several state utility commissions; Nevada State Consumer Advocate

 

 

Philip D. Moeller

  Republican      7/06      6/15     

Energy policy advisor to former U.S. Senator Slade Gorton (WA); staff coordinator for the WA State Senate Committee on Energy, Utilities and Telecommunications; Alliant Energy Corporation

 

 

Tony Clark

  Republican      6/12      6/16     

Chairman of North Dakota Public Service Commission; President of NARUC; North Dakota Labor Commissioner under Gov. Ed Schafer; State Legislator; Chairman of Frontier Trails District of the Boy Scouts of America

 

 

John R. Norris

  Democrat      1/10      6/17     

Attorney; Chief of Staff to Secretary Tom Vilsack of the U.S. Department of Agriculture; Chairman of the Iowa Utilities Board; President of the Organization of MISO States

 

 

Cheryl A. LaFleur

  Democrat      7/10      6/14     

Attorney; executive vice president and acting CEO of National Grid USA; member of the NARUC Committees on Electricity and Critical Infrastructure

 

 

ComEd Electric Transmission Rate Cases

 

($ in millions)    Date   

Revenue

Adjustment

   Test Year    Rate Base   

Overall Rate

of Return

  

Return on

Equity

   Equity Ratio

ComEd Update(a)(d)

   4/29/13    $68    2012 pro forma    $2,184    8.70%    11.50%    55%

ComEd Update(a)

   5/15/12    $23    2011 pro forma    $2,104    8.91%    11.50%    55%

ComEd Update(a)(b)

   5/16/11    $6    2010 pro forma    $2,054    9.10%    11.50%    55%

ComEd Update(a)(c)

   5/14/10    $(24)    2009 pro forma    $1,949    9.27%    11.50%    56%

ComEd Update(a)

   5/15/09    $(16)    2008 pro forma    $1,986    9.43%    11.50%    57%

 

(a) Annual update filing based on the formula rate, originally implemented effective May 1, 2007. Rate effective June 1 of the update year through May 31 of the following year.
(b) Revenue requirement increase reflects the IL income tax statuatory rate change enacted January 2011.
(c) Revenue requirement decrease primarily reflects lower O&M expenses and increased true-up credit to the formula.
(d) Revenue requirement increase primarily reflects increased transmission O&M, A&G costs, plant additions, and an increased true up adjustment.

BGE Electric Transmission Rate Cases

 

($ in millions)    Date   

Revenue

Adjustment

   Test Year    Rate Base   

Overall Rate

of Return

  

Return on

Equity

   Equity Ratio

BGE Update(a)(b)(c)

   4/24/12    $18    2011 pro forma    $572    8.43%    11.30%    50%

BGE Update(a)

   4/29/11    $(1)    2010 pro forma    $501    8.96%    11.30%    53%

BGE Update(a)(b)

   4/26/10    $33    2009 pro forma    $441    8.92%    11.30%    51%

BGE Update(a)

   5/4/09    $3    2008 pro forma    $392    8.47%    11.30%    45%

 

(a) Annual update filing based on the formula rate, originally implemented effective June 1, 2005. Rate effective June 1 of the update year through May 31 of the following year.
(b) Revenue requirement increase primarily reflects higher rate base, O&M expenses, and true-up debit to the formula.
(c) On February 27, 2013, state regulators and consumer advocates (including the MD PSC) filed a complaint against four mid-Atlantic electric utilities (including BGE) seeking a FERC order to reduce the base return equity used in the utilities’ formula transmission rates and directing the utilities to submit compliance filings to implement certain changes to the formula transmission rate implementation protocols.

 

 

 

        10


LOGO

 

 

 

Illinois Commerce Commission (ICC)

(www.icc.illinois.gov)

The ICC has five full-time members, each appointed by the Governor (currently Pat Quinn, Democrat; term began in January 2009 and ends in January 2015) and confirmed by the Illinois State Senate. The Commissioners serve staggered five-year terms. Under Illinois law, no more than three Commissioners may belong to the same political party. The Chairman is designated by the Governor.

 

Commissioner   Party Affiliation      Service Began      Term Ends      Professional Experience

 

Douglas P. Scott (Chairman)

  Democrat      3/11      1/14     

Attorney; director of the Illinois Environmental Protection Agency; mayor of Rockford, IL; IL state representative

 

 

Ann McCabe

  Republican      3/12      1/17     

Midwest regional director for The Climate Registry; partner at Policy Solutions Ltd.; regulatory manager for BP and Amoco; founding member of the Foresight Sustainable Business Alliance; member Illinois Environmental Council

 

 

Miguel del Valle (Acting)

  Democrat      2/13      1/18     

City Clerk of Chicago; First Hispanic elected to Illinois State Senate; Co-founder of the Illinois Association of Hispanic State Employees and the Illinois Latino Advisory Council on Higher Education; Vice Chairman of the Illinois Student Assistance Commission

 

 

Sherina Maye (Acting)

  Independent      2/13      1/18     

Associate in Chicago office of Locke Lord LLP; Mentor at the Young Women’s Leadership Charter School; a Founding Board Member of the Great Lakes Academy Charter School; Associate Board Member for the Chicago Committee for Minorities in Large Law Firms

 

 

John T. Colgan

  Democrat      11/09      1/15     

Member of Illinois Association of Community Action Agencies; executive director of the Illinois Hunger Coalition

 

 

 

 

 

11        


LOGO

 

 

 

ComEd Electric Distribution Rate Cases

 

($ in millions)   

Revenue

Date

    Increase      Test Year     

Overall

Rate Base

    

Rate of

Return

     Equity      Equity Ratio  

Formula Rate Filing(e)

     4/29/13 (f)      $311         2012         $6,731         7.01%         8.72%         44.99%   

Formula Rate Filing(e)

     4/30/12        $74         2011         $6,367         7.58%         9.81%         42.55%   

ICC Order(e)

     12/19/12        $73         2011         $6,367         7.58%         9.81%         42.55%   

Formula Rate Filing

     11/8/11        ($59      2010         $6,601         8.11%         10.05%         45.56%   

ICC Order(a)

     5/29/12        ($169      2010         $6,183         8.16%         10.05%         46.17%   

ICC Order on Rehearing

     10/3/12        ($133      2010         $6,188         8.16%         10.05%         46.17%   

ComEd Request(b)

     6/30/10        $343         2009         $7,349         8.98%         11.50%         47.28%   

ICC Order

     5/24/11        $143         2009         $6,549         8.51%         10.50%         47.28%   

ComEd Request(c)

     10/17/07        $345         2006         $6,753         8.57%         10.75%         45.04%   

ICC Order(d)

     9/10/08        $274         2006         $6,694         8.36%         10.30%         45.04%   

 

(a) On June 22, 2012 the ICC granted expedited rehearing in Docket 11-0721 on three aspects of the formula rate order. On October 3, 2012, the ICC issued its final order (Rehearing Order) in that rehearing, adopting ComEd’s position on the return on its pension asset, resulting in an increase in ComEd’s overall annual revenue requirement.
(b) Reflects ComEd reply brief filed on February 23, 2011. Original rate request included a $396 million revenue increase.
(c) Reflects ComEd surrebuttal testimony filed on April 21, 2008. Original rate request included a $361 million revenue increase.
(d) On September 30, 2010, the Illinois Appellate Court issued a decision in the appeals related to the ICC’s order in ComEd’s 2007 electric distribution rate case. That decision ruled against ComEd on the treatment of post-test year accumulated depreciation. ComEd continued to bill rates as established under the ICC’s order in the 2007 Rate Case until June 1, 2011, when the rates set in the 2010 Rate Case became effective. On February 23, 2012, the ICC issued an order on remand reflecting that ComEd should provide a refund of approximately $37 million to customers related to the treatment of post-test year accumulated depreciation. On March 26, 2012, ComEd filed a notice of appeal with the Court.
(e) Reflects ComEd’s October 11 Compliance filing in Docket 12-0321 including the impacts of the May and October 2012 orders in the initial formula case. Rate base reflects filing year amounts. Rate of Return, Return on Equity, and Equity Ratio reflect the reconciliation year amounts.
(f) Reflects ComEd’s initial filing on April 29, 2013. Rate of Return on Equity and Equity Ratio reflect the reconciliation year amounts.

ComEd – Average Total Residential Rate

($/MWh)                                           
Year    Transmission                  Distribution                  Energy                  Other(a)                  Total  

2010

     $6.80           38.71           72.81           3.34           121.66   

2011

     $7.49           41.40           73.14           3.78           125.80   

2012

     $5.98           36.12           53.51           10.86           106.47   

 

(a) Primarily includes taxes and environmental cost recovery and energy efficiency riders.

 

 

 

        12


LOGO

 

 

 

Pennsylvania Public Utility Commission (PUC)

(www.puc.state.pa.us)

The PUC has five full-time members, each appointed by the Governor (currently Tom Corbett, Republican; term began in January 2011 and ends in January 2015) and confirmed by the Pennsylvania State Senate. The Commissioners serve for staggered five-year terms. Under Pennsylvania law, no more than three Commissioners may belong to the same political party as the Governor. The Chairman is designated by the Governor, and the Vice Chairman is selected by the PUC commissioners.

 

Commissioner   Party Affiliation      Service Began      Term Ends      Professional Experience

 

Robert F. Powelson (Chairman)   Republican      6/08      4/14     

President/CEO of Chester County Chamber of Business and Industry; staff assistant to former U.S. Representative Curt Weldon (PA)

 

 

John F. Coleman Jr.

(Vice Chairman)

  Republican      6/10      4/17     

President/CEO of Centre County Chamber of Business and Industry; Executive Director of the Jefferson County Department of Development

 

 

Pamela A. Witmer

  Republican      6/11      4/16     

Energy and environment practice lead at Bravo Group. President and CEO of Pennsylvania Chemical Industry Council; lead legislative liaison in PA Department of Environmental Protection; research analyst for PA House of Representatives

 

 

Wayne E. Gardner

  Democrat      6/08      4/13     

Consultant in power generation technologies; executive at Franklin Fuel Cells, Inc.; executive at PECO Energy

 

 

James H. Cawley

  Democrat      6/05      4/15     

Attorney; majority counsel to the Pennsylvania Senate Consumer Affairs Committee

 

 

PECO Electric Distribution Rate Case

 

($ in millions)   Date  

Revenue

Increase

  Test Year   Rate Base  

Overall Rate

of Return

 

Return on

Equity

  Equity Ratio

PECO Request(a)

  3/31/10   $316   2010   $3,236   8.95%   11.75%   53.18%

PUC Order(b)

  12/16/10   $225   2010   n/a   n/a   n/a   n/a

 

PECO Gas Delivery Rate Cases

 

($ in millions)   Date  

Revenue

Increase

  Test Year   Rate Base  

Overall Rate

of Return

 

Return on

Equity

  Equity Ratio

PECO Request(a)

  3/31/10   $44   2010   $1,100   8.95%   11.75%   53.18%

PUC Order(b)

  12/16/10   $20   2010   n/a   n/a   n/a   n/a

PECO Request

  3/31/08   $98   2008   $1,104   8.87%   11.50%   54.34%

PUC Order(b)

  10/23/08   $77   2008   n/a   n/a   n/a   n/a

 

(a) Per original filing.
(b) PUC approved a joint settlement; no allowed return was specified. Increase related to December 2010 order was effective January 1, 2011.

PECO – Average Total Residential Rate

($/MWh)

Year

       Transmission           Distribution          
 
Energy Efficiency
Surcharge
  
  
       CTC (c)      

 

Energy and

Capacity

  

  

       Total   

 

 

2010

       $5.10           $50.30           $2.90           $25.70         $62.60           $146.60   

2011

       6.90           58.40           4.70                   84.00           154.00   

2012

       8.04           59.95           2.42                   88.52           158.93   

 

(c) The PUC authorized recovery in PECO’s 1998 settlement of competitive transition charges (CTC) through 2010.

 

 

 

13        


LOGO

 

 

 

Maryland Public Service Commission (PSC)

(http://webapp.psc.state.md.us)

The PSC has five full-time members, each appointed by the Governor (currently Martin O’Malley, Democrat; 1st term began in January 2007; 2nd term ends in January 2015) and confirmed by the Maryland General Assembly. The Commissioners serve staggered five-year terms.

 

Commissioner   Party Affiliation      Service Began      Term Ends      Professional Experience

 

W. Kevin Hughes (Chairman)

  Democrat      9/11      6/13     

Attorney; Deputy Legislative Officer to Governors O’Malley, Glendening; Legislative Officer under Governor Schaefer; Principal Analyst for MD Department of Legislative Services

 

 

Harold D. Williams

  Democrat      9/02      6/17     

Director of Corporate Procurement Services at BGE; Chair of NARUC’s Utility Market Access partnership Board; Chairman of MD/DC Minority Supplier Development Council; Board member of EEI Minority Business Development Committee, and DOE Minority Business Roundtable Committee

 

 

Lawrence Brenner

  Democrat      3/07      6/15     

Attorney; Chairman of Washington Metropolitan Area Transit Commission; Board member of Organization of PJM States; Deputy Chief ALJ for FERC; judge for the NRC; ALJ with U.S. Department of Labor

 

 

Kelly Speakes-Backman

  Democrat      9/11      6/14     

Board member of NARUC Committee on Energy Resources and the Environment and Regionall Greenhouse Gas Initiative; Clean Energy director at Maryland Energy Administration

 

 

Vacant

  TBD      TBD      TBD      TBD

 

BGE Electric Distribution Rate Case

 

($ in millions)   Date   Revenue
Increase
  Test Year  

Adjusted

Rate Base

 

Overall Rate

of Return

 

Return on

Equity

  Equity Ratio

BGE Request

  7/27/12   $130   2011-12   $2,710   7.96%   10.5%   48.4%

PSC Order

  2/22/13   $81   2011-12   $2,635   7.60%   9.75%   48.4%

BGE Request

  5/7/10   $92(a)   2009-10   $2,291   8.99%   11.65%   51.93%

PSC Order

  12/6/10(b)   $31   2009-10   $2,243   8.06%   9.86%   51.93%

 

BGE Gas Distribution Rate Case

 

($ in millions)   Date  

Revenue

Increase

  Test Year  

Adjusted

Rate Base

 

Overall Rate

of Return

 

Return on

Equity

  Equity Ratio

BGE Request

  7/27/12   $46   2011-12   $1,014   7.96%   10.5%   48.4%

PSC Order

  2/22/13   $32   2011-12   $976   7.53%   9.60%   48.4%

BGE Request

  5/7/10   $30   2009-10   $839   8.99%   11.65%   51.93%

PSC Order

  12/6/10(b)   $10   2009-10   $817   7.90%   9.56%   51.93%

 

(a) However, due to a 2008 settlement with the MDPSC, the State of Maryland and the General Assembly, BGE’s electric rate increase was limited to 5% of electricity revenues or $47.2 million.
(b) The PSC issued an abbreviated rate order on December 6, 2010 and followed-up with a more comprehensive order on March 9 2011.

BGE – Average Total Residential Rate

($/MWh)                                                  

Year

       Energy           Transmission           Distribution           Other (a)       Total        

 

2010

       $109.30           $5.12           $31.35           $3.07         $148.84        

2011

       93.39           6.13           33.05           4.33         136.90        

2012

       85.54           7.87           33.35           4.78         131.54        

 

(a) Includes EmPowerMD Charge, RSP Charge/Misc Credits, taxes, and other surcharges.

 

 

 

        14

 


LOGO

 

 

 

(at December 31)    2012      2011      2010  

Exelon (consolidated)

     (in millions)         (in percent)              (in millions)         (in percent)              (in millions)         (in percent)     

Total Debt

     $19,603          47.3               $13,405          48.1               $12,828          48.4       

Preferred Securities of Subsidiaries

     87          0.2               87          0.3               87          0.3       

Total Equity

     21,730          52.5               14,388          51.6               13,563          51.2       

Total Capitalization

     $41,420                   $27,880                   $26,478             

Transition Debt

           $–             $–       

Exelon Generation

                 

Total Debt

     $7,483          37.1               $3,679          29.7               $3,679          33.9       

Total Equity

     12,665          62.9               8,708          70.3               7,177          66.1       

Total Capitalization

     $20,148                   $12,387                   $10,856             

ComEd

                 

Total Debt

     $5,773          44.1               $5,871          45.5               $5,207          43.0       

Total Shareholders’ Equity

     7,323          55.9               7,037          54.5               6,910          57.0       

Total Capitalization

     $13,096                   $12,908                   $12,117             

PECO

                 

Total Debt(a)

     $2,341          43.3               $2,381          44.0               $2,631          47.0       

Preferred Securities (b)

     87          1.6               87          1.6               87          1.6       

Total Shareholders’ Equity

     2,982          55.1               2,938          54.3               2,883          51.5       

Total Capitalization

     $5,410                   $5,406                   $5,601             

Transition Debt

           $–             $–       

BGE(c)

                 

Total Debt

     $2,436          50.8               n/a          n/a               n/a          n/a       

Preferred Securities

     190          4.0               n/a          n/a               n/a          n/a       

Total Shareholders’ Equity

     2,168          45.2               n/a          n/a               n/a          n/a       

Total Capitalization

     $4,794                   n/a                   n/a             

Note: Percentages may not add due to rounding.

 

(a) Includes PECO’s accounts receivable agreement at December 31, 2012, 2011 and 2010 of $210 million, $225 million and $225 million, respectively, which is classified as a short-term note payable.
(b) On March 25, 2013, PECO Energy Company (PECO) issued a press release announcing that it had issued a notice of redemption for all of the outstanding shares of its preferred stock, effective May 1, 2013.
(c) BGE was not part of Exelon in 2010 and 2011.

 

 

 

15        


LOGO


LOGO

 

 

 

Exelon Generation

 

    Twelve Months Ended December 31, 2012(a)     Twelve Months Ended December 31, 2011  
                Adjusted                 Adjusted  

(in millions)

    GAAP (b)      Adjustments        Non-GAAP        GAAP (b)      Adjustments        Non-GAAPP   

 

 

Operating revenues

    $14,437        $1,065 (c),(d),(e)      $15,502        $10,447        $(66 )(c),(o)      $10,381   

Operating expenses

           

Purchased power and fuel

    7,061        607 (c),(d),(e),(f)      7,668        3,589        (292 )(c),(d)      3,297   

Operating and maintenance

    5,028       

 

(889

 

)(c),(e),(f),(g) 

 (h),(l),(m),(n) 

    4,139        3,148        (77 )(c),(f),(g),(l),(o)      3,071   

Depreciation, amortization, accretion and depletion

    768        (47 )(c),(f)      721        570        (87 )(c)      483   

Taxes other than income

    369        (11 )(c)      358        264        (1 )(d)      263   

 

 

Total operating expenses

    13,226        (340     12,886        7,571        (457     7,114   

 

 

Equity in earnings of unconsolidated affiliates

    (91     150 (e),(f)      59        (1            (1

 

 

Operating income

    1,120        1,555        2,675        2,875        391        3,266   

 

 

Other income and deductions

           

Interest expense

    (301     (16 )(i)      (317     (170            (170

Loss in equity method investments

                                         

Other, net

    239        (94 )(c),(f),(j)      145        122        (21 )(j),(o)      101   

 

 

Total other income and deductions

    (62     (110     (172     (48     (21     (69

 

 

Income before income taxes

    1,058        1,445        2,503        2,827        370        3,197   

Income taxes

    500       

 

 

459

(c),(d),(e),(f),(g),(h), 

(i),(j),(k),(l),(m),(n) 

    959        1,056       

 

 

139

(c),(d),(f),(g),(j) 

(k),(l),(o) 

    1,195   

 

 

Net Income

    558        986        1,544        1,771        231        2,002   

Net loss attributable to noncontrolling interests

    (4            (4                     

 

 

Net income on common stock

    $      562        $      986        $  1,548        $  1,771        $  231        $  2,002   

 

 

 

(a) Includes financial results for Constellation beginning on March 12, 2012, the date the merger was completed.
(b) Results reported in accordance with GAAP.
(c) Adjustment to exclude costs associated with the retirement of fossil generating units, the impacts of the FERC approved reliability-must-run rate schedule and the impact associated with the sale in the fourth quarter of 2012 of three generating stations associated with certain of the regulatory approvals required for the merger.
(d) Adjustment to exclude the mark-to-market impact of Generation’s economic hedging activities.
(e) Adjustment to exclude the non-cash amortization of intangible assets, net, related to commodity contracts recorded at fair value at the merger date.
(f) Adjustment to exclude certain costs incurred associated with the merger, including transaction costs, employee-related expenses (e.g. severance, retirement, relocation and retention bonuses) and integration initiatives.
(g) Adjustment to exclude the increase in Generation’s decommissioning obligation for spent nuclear fuel at retired nuclear units in 2011 and 2012, and a decrease in Generation’s asset retirement obligation for certain retired fossil-fueled generating stations in 2012.
(h) Adjustment to exclude estimated liabilities pursuant to the Midwest Generation bankruptcy.
(i) Adjustment to exclude the non-cash amortization of certain debt recorded at fair value at the merger date expected to be retired in 2013.
(j) Adjustment to exclude the unrealized gains in 2011 for the three months ended, unrealized losses in 2011 for the twelve months ended and unrealized gains in 2012 associated with Generation’s NDT fund investments and the associated contractual accounting relating to income taxes.
(k) Adjustment to exclude the non-cash impacts of the remeasurement of state deferred income taxes, primarily as a result of the merger for 2012 and as a result of revised estimates of state apportionments for 2011.
(l) Adjustment to exclude certain costs associated with various acquisitions.
(m) Adjustment to exclude costs incurred as part of the Maryland order approving the merger transaction.
(n) Adjustment to exclude costs associated with the March 2012 settlement with the FERC.
(o) Adjustment to exclude the non-cash bargain purchase gain (negative goodwill) associated with the acquisition of Wolf Hollow, net of acquisition costs.

 

 

 

17        


LOGO

 

 

 

ComEd

 

    Twelve Months Ended December 31, 2012     Twelve Months Ended December 31, 2011  
                Adjusted                 Adjusted  

(in millions)

    GAAP (a)      Adjustments        Non-GAAP        GAAP (a)      Adjustments        Non-GAAPP   

 

 

Operating revenues

    $5,443        $  –        $5,443        $6,056        $      –        $6,056   

Operating expenses

           

Purchased power

    2,307               2,307        3,035               3,035   

Operating and maintenance

    1,345        (5 )(b)      1,340        1,189        13 (c)      1,202   

Depreciation, amortization

    610               610        554               554   

Taxes other than income

    295               295        296               296   

 

 

Total operating expenses

    4,557        (5     4,552        5,074        13        5,087   

 

 

Operating income

    886        5        891        982        (13     969   

 

 

Other income and deductions

           

Interest expense

    (307            (307     (345            (345

Other, net

    39               39        29               29   

 

 

Total other income and deductions

    (268            (268     (316            (316

 

 

Income before income taxes

    618        5        623        666        (13     653   

Income taxes

    239        3 (b)      242        250        (c),(d)      250   

 

 

Net income

    $    379        $  2        $    381        $    416        $(13     $    403   

 

 

 

(a) Results reported in accordance with GAAP.
(b) Adjustment to exclude certain costs incurred associated with the merger, including transaction costs, employee-related expenses (e.g. severance, retirement, relocation and retention bonuses) and integration initiatives.
(c) Adjustment to exclude one-time benefits for the recovery of previously incurred costs related to the 2009 restructuring plan and for the passage of Federal health care legislation in 2010.
(d) Adjustment to exclude a one-time, non-cash charge to remeasure deferred taxes at higher corporate tax rates pursuant to the Illinois tax rate change legislation.

 

 

 

        18


LOGO


LOGO

 

 

 

BGE

     March 12, 2012 through December 31, 2012  

(in millions)

     GAAP (a)      Adjustments       
 
Adjusted
Non-GAAPP
  
  

 

 

Operating revenues

     $2,091        $113 (c)      $2,204   

Operating expenses

      

Purchased power and fuel

     1,052               1,052   

Operating and maintenance

     596        (37 )(b),(c)      559   

Depreciation, amortization

     238               238   

Taxes other than income

     167        2 (c)      169   

 

 

Total operating expenses

     2,053        (35     2,018   

 

 

Operating income

     38        148        186   

 

 

Other income and deductions

      

Interest expense

     (111            (111

Other, net

     19               19   

 

 

Total other income and deductions

     (92            (92

 

 

Income (loss) before income taxes

     (54     148        94   

Income taxes

     (23     60 (b),(c)      37   

 

 

Net Income (loss)

     (31     88        57   

Preferred security dividends

     11               11   

 

 

Net income (loss) on common stock

     (42     88        46   

 

 

 

Note: Financial results for BGE beginning on March 12, 2012, the date the merger was completed.

 

(a) Results reported in accordance with GAAP.
(b) Adjustment to exclude certain costs incurred associated with the merger, including transaction costs, employee-related expenses
   (e.g. severance, retirement, relocation and retention bonuses) and integration initiatives.
(c) Adjustment to exclude costs incurred as part of the Maryland order approving the merger transaction.

 

 

 

        20


LOGO

 

 

 

Exelon Generation – Annual Electric Supply and Sales Statistics

 

Twelve Months Ended December 31,  

(in GWhs)

     2012 (a)      2011   

 

 

Supply

    

Nuclear Generation(b)

    

Mid-Atlantic

     47,337        47,287   

Midwest

     92,525        92,010   

 

 

Total Nuclear Generation

     139,862        139,297   

 

 

Fossil and Renewables(b)

    

Mid-Atlantic(b)(d)

     8,808        7,572   

Midwest

     971        596   

New England

     9,965        8   

New York

              

ERCOT(e)

     6,182        2,030   

Other(f)

     5,913        1,432   

 

 

Total Fossil and Renewables

     31,839        11,638   

 

 

Purchased Power

    

Mid-Atlantic(c)

     20,830        2,898   

Midwest

     9,805        5,970   

New England

     9,273          

New York(c)

     11,457          

ERCOT(e)

     23,302        7,537   

Other(f)

     17,327        2,503   

 

 

Total Purchased Power

     91,994        18,908   

 

 

Total Supply/Sales by Region(h)

    

Mid-Atlantic(g)

     76,975        57,757   

Midwest(g)

     103,301        98,576   

New England

     19,238        8   

New York

     11,457          

ERCOT

     29,484        9,567   

Other(f)

     23,240        3,935   

 

 

Total Supply/Sales by Region

     263,695        169,843   

 

 

Average Margin ($/MWh)(i)(j)

    

Mid-Atlantic(k)

     $44.60        $58.00   

Midwest(k)

     29.02        35.99   

New England

     10.19        n.m.   

New York

     6.63        n.m.   

ERCOT

     13.74        8.78   

Other(f)

     5.64        (3.56
              

Average Margin – Overall Portfolio

     $27.45        $41.07   

Around-the-clock (ATC) Market Prices ($/MWh)(l)

    

PJM West Hub

     $33.91        $43.56   

NiHub

     28.97        33.07   

NEPOOL Mass Hub

     6.06        8.71   

NYPP Zone A

     31.02        36.98   

ERCOT North Spark Spread

     3.23        11.88   

 

(a) Includes results for Constellation beginning on March 12, 2012, the date the merger was completed.
(b) Includes the proportionate share of output where Generation has an undivided ownership interest in jointly-owned generating plants and does not include ownership through equity method investments (e.g. CENG).
(c) Purchased power includes physical volumes of 9,925 GWhs in the Mid-Atlantic and 9,350 GWhs in New York as a result of the PPA with CENG for the year ended December 31, 2012.
(d) Excludes generation under the reliability-must-run rate schedule and generation of Brandon Shores, H.A. Wagner, and C.P. Crane, the generating facilities divested in Q4 2012 as a result of the Exelon and Constellation merger.
(e) Generation from Wolf Hollow is included in purchased power for the period ending June 30, 2011 and through the acquisition date of August 24, 2011, and included within Fossil and Renewables subsequent to the acquisition date.
(f) Other Regions includes South, West and Canada, which are not considered individually significant.
(g) Includes affiliate sales to PECO and BGE in the Mid-Atlantic region and affiliate sales to ComEd in the Midwest region.
(h) Total sales do not include physical proprietary trading volumes of 12,958 GWhs and 5,742 GWhs for the year ended December 31, 2012 and 2011, respectively.
(i) Excludes Generation’s other business activities not allocated to a region, including retail and wholesale gas, upstream natural gas, proprietary trading, energy efficiency, energy management and demand response, and the design, construction and operation of renewable energy facilities. Also excludes Generation’s compensation under the reliability-must-run rate schedule, the financial results of Brandon Shores, H.A. Wagner, and C.P. Crane, the generating facilities divested in Q4 2012 as a result of the merger, amortization of certain intangible assets relating to commodity contracts recorded at fair value as a result of the Exelon and Constellation merger and other miscellaneous revenues not allocated to a region.
(j) Excludes the mark-to-market impact of Generation’s economic hedging activities.
(k) Includes affiliate sales to PECO and BGE in the Mid-Atlantic region and affiliate sales to ComEd and settlements of the ComEd swap in the Midwest region.
(l) Represents the average for the year.

 

 

 

21        


LOGO

 

 

 

Exelon Generation – Electric Supply and Sales by Quarter

 

     Three Months Ended  
(in GWhs)     
 
December 31,
2012
  
(a) 
   
 
September 30,
2012
  
(a) 
   
 
        June 30,
2012
  
(a) 
   
 
        March 31,
2012
  
  
    
 
December 31,
2011
  
  

 

 

Supply

           

Nuclear Generation(b)

           

Mid-Atlantic

     11,547        11,449        12,277        12,064         11,587   

Midwest

     23,335        23,132        22,860        23,198         23,306   

 

 

Total Nuclear Generation

     34,882        34,581        35,137        35,262         34,893   

 

 

Fossil and Renewables(b)

           

Mid-Atlantic(b)(d)

     2,154        2,547        2,316        1,791         1,637   

Midwest

     300        171        228        272         188   

New England

     2,368        3,953        2,755        889           

New York

                                    

ERCOT(e)

     755        2,410        2,177        840         457   

Other(f)

     1,358        1,813        1,923        819         394   

 

 

Total Fossil and Renewables

     6,935        10,894        9,399        4,611         2,676   

 

 

Purchased Power

           

Mid-Atlantic(c)

     4,332        6,811        7,111        2,577         739   

Midwest

     2,661        3,035        1,558        2,552         1,143   

New England

     2,304        1,961        3,905        1,100           

New York(c)

     3,678        4,026        2,818        935           

ERCOT(e)

     6,043        7,741        6,686        2,832         1,150   

Other(f)

     4,172        5,372        6,012        1,769         482   

 

 

Total Purchased Power

     23,190        28,946        28,090        11,765         3,514   

 

 

Total Supply/Sales by Region(h)

           

Mid-Atlantic(g)

     18,033        20,807        21,704        16,432         13,963   

Midwest(g)

     26,296        26,338        24,646        26,022         24,637   

New England

     4,672        5,914        6,660        1,989           

New York

     3,678        4,026        2,818        935           

ERCOT

     6,798        10,151        8,863        3,672         1,607   

Other(f)

     5,530        7,185        7,935        2,588         876   

 

 

Total Supply/Sales by Region

     65,007        74,421        72,626        51,638         41,083   

 

 
     Three Months Ended  
     December 31,
2012(a)
    September 30,
2012(a)
    June 30,
2012(a)
    March 31,
2012
     December 31,
2011
 

 

 

Average Margin ($/MWh)(f)(g)(h)

           

Mid-Atlantic(k)

     $48.24        $43.64        $40.68        $46.86         $56.08   

Midwest(k)

     26.09        27.68        31.00        31.40         34.18   

New England

     3.64        13.70        9.01        19.61         n.m.   

New York

     4.35        3.23        13.84        8.56         n.m.   

ERCOT

     13.39        15.66        13.43        9.26         (6.02

Other(f)

     7.96        5.85        4.28        5.41         (4.13

Average Margin – Overall Portfolio

     $26.52        $25.96        $26.15        $32.57         $39.31   

Around-the-clock Market Prices ($/MWh)(l)

           

PJM West Hub

     $35.94        $38.13        $30.40        $31.10         $35.07   

NiHub

     28.37        34.29        26.02        27.13         25.97   

New England Mass Hub ATC Spark Spread

     3.07        12.69        7.77        0.80         6.71   

NYPP Zone A

     34.70        34.56        27.87        27.18         32.03   

ERCOT North Spark Spread

     (0.27     3.60        6.01        3.46         1.11   

 

(a) Includes results for Constellation beginning on March 12, 2012, the date the merger was completed.
(b) Includes the proportionate share of output where Generation has an undivided ownership interest in jointly-owned generating plants and does not include ownership through equity method investments (e.g. CENG).
(c) Purchased power includes physical volumes of 3,255 GWhs, 3,126 GWhs, 3,225 GWhs and 319 GWhs in the Mid-Atlantic and 2,814 GWhs, 2,997 GWhs, 2,817 GWhs and 722 GWhs in New York as a result of the PPA with CENG for the three months ended December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.
(d) Excludes generation under the reliability-must-run rate schedule and generation of Brandon Shores, H.A. Wagner, and C.P. Crane, the generating facilities divested in Q4 2102 as a result of the Exelon and Constellation merger.
(e) Generation from Wolf Hollow is included in purchased power for the period ending June 30, 2011 and through the acquisition date of August 24, 2011, and included within Fossil and Renewables subsequent to the acquisition date.
(f) Other Regions includes South, West and Canada, which are not considered individually significant.
(g) Includes affiliate sales to PECO and BGE in the Mid-Atlantic region and affiliate sales to ComEd in the Midwest region.
(h) Total sales do not include physical proprietary trading volumes of 2,977 GWhs, 4,352 GWhs, 3,873 GWhs, 1,757 GWhs, and 1,235 GWhs for the three months ended December 31, 2012, September 30, 2012, June 30, 2012, March 31, 2012, and December 31, 2011, respectively.
(i) Excludes Generation’s other business activities not allocated to a region, including retail and wholesale gas, upstream natural gas, proprietary trading, energy efficiency, energy management and demand response, and the design, construction and operation of renewable energy facilities. Also excludes Generation’s compensation under the reliability-must-run rate schedule, the financial results of Brandon Shores, H.A. Wagner, and C.P. Crane, the generating facilities divested in Q4 2012 as a result of the merger, amortization of certain intangible assets relating to commodity contracts recorded at fair value as a result of the Exelon and Constellation merger and other miscellaneous revenues not allocated to a region.
(j) Excludes the mark-to-market impact of Generation’s economic hedging activities.
(k) Includes affiliate sales to PECO and BGE in the Mid-Atlantic region and affiliate sales to ComEd and settlements of the ComEd swap in the Midwest region.
(l) Represents the average for the year.

 

 

 

        22


LOGO

 

 

 

ComEd – Electric Sales Statistics, Revenue and Customer Detail

 

     2012      2011  

 

 

Retail Deliveries(a) (in GWhs)

     

Residential

     28,528         28,273   

Small Commercial & Industrial

     32,534         32,281   

Large Commercial & Industrial

     27,643         27,732   

Public Authorities & Electric Railroads

     1,272         1,235   

 

 

Total Retail Deliveries

     89,977         89,521   

 

 

Electric Revenue (in millions)

     

Residential

     $3,037         $3,510   

Small Commercial & Industrial

     1,339         1,517   

Large Commercial & Industrial

     395         383   

Public Authorities & Electric Railroads

     44         50   

 

 

Total Retail Revenues

     4,815         5,460   

 

 

Other Revenues(b)

     628         596   

 

 

Total Electric Revenues

     $5,443         $6,056   

 

 

Customers at Year End

 

     
     2012      2011  

 

 

Number of Electric Customers

     

Residential

     3,455,546         3,448,481   

Small Commercial & Industrial

     365,357         365,824   

Large Commercial & Industrial

     1,980         2,032   

Public Authorities & Electric Railroads

     4,812         4,797   

 

 

Total Electric Customers

     3,827,695         3,821,134   

 

 

Heating and Cooling Degree Days

     
     2012      2011  

 

 

Heating Degree Days (normal=6,341)

     5,065         6,134   

 

 

Cooling Degree Days (normal=842)

     1,324         1,036   

 

 

Peak System Load

     
     2012      2011  

 

 

Summer(c)

     

Highest Peak Load (MW)

     23,601         23,753 (d) 

 

 

Winter(e)

     

Highest Peak Load (MW)

     14,812         15,656   

 

 

 

(a) Reflects delivery volumes and revenues from customers purchasing electricity directly from ComEd and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed delivery charges. For customers purchasing electricity from ComEd, revenue also reflects the cost of energy and transmission.
(b) Other revenue primarily includes transmission revenue from PJM. Other items include late payment charges and mutual assistance program revenues.
(c) Summer is defined as June 1 to September 30 of the reporting year.
(d) The summer peak load of 23,753 MW that occurred on July 20, 2011 is the all-time peak load for ComEd.
(e) Winter is defined as November 1 of the previous year to March 31 of the reporting year.

 

 

 

23        


LOGO

 

 

 

PECO – Electric Sales Statistics, Revenue and Customer Detail

 

     2012      2011  

 

 

Retail Deliveries(a) (in GWhs)

     

Residential

     13,233         13,687   

Small Commercial & Industrial

     8,063         8,321   

Large Commercial & Industrial

     15,253         15,677   

Public Authorities & Electric Railroads

     943         945   

 

 

Total Retail Deliveries

     37,492         38,630   

 

 

Electric Revenue (in millions)

     

Residential

     1,689         $1,934   

Small Commercial & Industrial

     462         584   

Large Commercial & Industrial

     232         308   

Public Authorities & Electric Railroads

     31         38   

 

 

Total Retail Revenues

     2,414         2,865   

 

 

Other Revenues(b)

     226         244   

 

 

Total Electric Revenues

     2,640         $3,109   

 

 

Customers at Year End

     
     2012      2011  

 

 

Number of Electric Customers

     

Residential

     1,417,773         1,415,681   

Small Commercial & Industrial

     148,803         148,570   

Large Commercial & Industrial

     3,111         3,110   

Public Authorities & Electric Railroads

     9,660         9,689   

 

 

Total Electric Customers

     1,579,347         1,577,050   

 

 

Heating and Cooling Degree Days

 

     
     2012      2011  

 

 

Heating Degree Days (normal=4,603)

     3,747         4,157   

 

 

Cooling Degree Days (normal=1,301)

     1,603         1,617   

 

 

Peak System Load

     
     2012      2011  

 

 

Summer(c)

     

Highest Peak Load (MW)

     8,549         8,983 (d) 

 

 

Winter(e)

     

Highest Peak Load (MW)

     6,652         6,675   

 

 

 

(a) Reflects delivery volumes and revenues from customers purchasing electricity directly from PECO and customers purchasing electricity from a competitive electric generation supplier as all customers are assessed distribution charges. For customers purchasing electricity from PECO, revenue also reflects the cost of energy and transmission.
(b) Other revenue includes transmission revenue from PJM and wholesale electric revenues.
(c) Summer is defined as June 1 to September 30 of the reporting year.
(d) The summer peak load of 8,983 MW that occurred on July 22,2011 is the all-time peak load for PECO.
(e) Winter is defined as November 1 of the previous year to March 31 of the reporting year.

 

 

 

        24


LOGO

 

 

 

PECO – Gas Sales Statistics, Revenue and Customer Detail

 

     2012      2011  

 

 

Deliveries to Customers (in mmcf)

     

Retail Sales(a)

     49,767         54,239   

Transportation and Other

     26,687         28,204   

 

 

Total Gas Deliveries

     76,454         82,443   

 

 

Gas Revenue (in millions)

     

Retail Sales(a)

     509         $576   

Transportation and Other

     37         35   

 

 

Total Gas Revenue

     546         $611   

 

 

Gas Customers at Year End

     
     2012      2011  

 

 

Residential

     454,502         451,382   

Commercial & Industrial

     41,836         41,373   

 

 

Total Retail Customers

     496,338         492,755   

Transportation

     903         879   

 

 

Total Gas Customers

     497,241         493,634   

 

 

Gas Maximum Day Sendout

     
     2012      2011  

 

 

Winter

     

Maximum Day Sendout (in thousand cubic feet (mcf))

     702,895         667,061   

 

 

 

(a) Reflects delivery volumes and revenues from customers purchasing natural gas directly from PECO and customers purchasing natural gas from a competitive natural gas supplier as all customers are assessed distribution charges. For customers purchasing natural gas from PECO, revenue also reflects the cost of natural gas.

 

 

 

25        


LOGO

 

 

 

Owned net electric generating capacity by station at December 31, 2012:

Base-load units are plants that normally operate to take all or part of the minimum continuous load of a system, and consequently produce electricity at an essentially constant rate. Intermediate units are plants that normally operate to take load of a system during the daytime higher load hours, and consequently produce electricity by cycling on and off daily. Peaking units consist of low-efficiency, quick response steam units, gas turbines, diesels, and pumped-storage hydroelectric equipment normally used during the maximum load periods.

 

Station

   Location     
 
Number
of Units
  
  
    
 
Percent
Owned
  
(a) 
 

Primary

Fuel Type

  

Primary

Dispatch

Type

    
 
 

 

Net
Generation
Capacity

(MW

  
  
(b) 

 

 

Nuclear

                

Braidwood

   Braidwood, IL      2         100      Uranium    Base-load      2,349   

Byron

   Byron, IL      2         100      Uranium    Base-load      2,326   

Calvert Cliffs(d)

   Lusby, MD      2         50.01      Uranium    Base-load      877   

Clinton

   Clinton, IL      1         100      Uranium    Base-load      1,067   

Dresden

   Morris, IL      2         100      Uranium    Base-load      1,790   

LaSalle

   Seneca, IL      2         100      Uranium    Base-load      2,327   

Limerick

   Limerick Twp., PA      2         100      Uranium    Base-load      2,314   

Nine Mile Point(d)

   Scriba, NY      2         44.2      Uranium    Base-load      798   

Oyster Creek

   Forked River, NJ      1         100      Uranium    Base-load      625 (c) 

Peach Bottom

   Peach Bottom Twp., PA      2         50.00      Uranium    Base-load      1,158 (d) 

Quad Cities

   Cordova, IL      2         75.00      Uranium    Base-load      1,403 (d) 

R.E. Ginna(d)

   Ontario, NY      1         50.01      Uranium    Base-load      288   

Salem

   Hancock’s Bridge, NJ      2         42.6      Uranium    Base-load      1,006 (d) 

Three Mile Island

   Londonderry Twp, PA      1         100      Uranium    Base-load      837   
                

 

 

 
                   19,165   

Fossil (Combined Cycle Gas Turbines)

             

Colorado Bend

   Wharton, TX      6         Gas    Intermediate      498   

Fore River

   North Weymouth, MA      3         Gas    Intermediate      688   

Hillabee

   Alexander City, AL      3         Gas    Intermediate      684   

Mystic 8/9

   Charlestown, MA      6         Gas    Intermediate      1,382   

Quail Run

   Odessa, TX      6         Gas    Intermediate      488   

Wolf Hollow

   Granbury, TX      3         Gas    Intermediate      705   
                

 

 

 
                   4,445   

 

 

 

        26


LOGO

 

 

 

Owned net electric generating capacity by station at December 31, 2012:

 

                                Net  
                          Primary     Generation  
      Number        Percent        Primary        Dispatch        Capacity (b) 

Station

  Location     of Units        Owned (a)      Fuel Type        Type        (MW

 

 

Fossil (Combustion Turbines)

  

       

Chester

  Chester, PA     3          Oil        Peaking        39   

Croydon

  Bristol Twp., PA     8          Oil        Peaking        391   

Delaware

  Philadelphia, PA     4          Oil        Peaking        56   

Eddystone

  Eddystone, PA     4          Oil        Peaking        60   

Falls

  Falls Twp., PA     3          Oil        Peaking        51   

Framingham

  Framingham, MA     3          Oil        Peaking        28   

Grande Prairie

  Alberta, Canada     1          Gas        Peaking        93   

Handsome Lake

  Rockland Twp., PA     5          Gas        Peaking        268   

LaPorte

  Laporte, TX     4          Gas        Peaking        152   

Medway

  West Medway, MA     3          Oil/Gas        Peaking        105   

Moser

  Lower Pottsgrove Twp., PA     3          Oil        Peaking        51   

Mystic Jet

  Charlestown, MA     1          Oil        Peaking        9   

New Boston GT

  South Boston, MA     1          Oil        Peaking        12   

Notch Cliff

  Baltimore Co., MD     8          Gas        Peaking        101   

Perryman

  Harford Co., MD     5          Oil/Gas        Peaking        347   

Philadelphia Road

  Baltimore Co., MD     4          Oil        Peaking        61   

Richmond

  Philadelphia, PA     2          Oil        Peaking        98   

Riverside 6-8

  Baltimore Co., MD     3          Oil/Gas        Peaking        154   

Salem

  Hancock’s Bridge, NJ     1        42.59        Oil        Peaking        16 (d) 

Schuylkill 10-11

  Philadelphia, PA     2          Oil        Peaking        30   

Southeast Chicago

  Chicago, IL     8          Gas        Peaking        296   

Southwark

  Philadelphia, PA     4          Oil        Peaking        52   

West Valley

  Salt Lake City, UT     5          Gas        Peaking        200   

Westport-5

  Baltimore Co., MD     1          Gas        Peaking        116   
           

 

 

 
              2,786   
           
                                Net  
                          Primary     Generation  
      Number        Percent        Primary        Dispatch        Capacity (b) 

Station

  Location     of Units        Owned (a)      Fuel Type        Type        (MW

 

 

Hydroelectric and Renewable

  

       

AgriWind

  Bureau Co., IL     4        99        Wind        Base-load        8 (d) 

Antelope Valley Solar Ranch

  LA County, CA     n/a          Solar        Base-load        31   

Beebe

  Gratiot, MI     34          Wind        Base-load        81   

Blue Breezes/Moore

  MN     2          Wind        Base-load        3   

Bluegrass Ridge

  Gentry Co., MO     27        99        Wind        Base-load        57 (d) 

Brewster

  Jackson Co., MN     6        97        Wind        Base-load        6 (d) 

Cassia

  Twin Falls Co., ID     14          Wind        Base-load        29   

Cisco

  Jackson Co., MN     4        99        Wind        Base-load        8 (d) 

Conception

  Nodaway Co., MO     24          Wind        Base-load        50   

Conowingo

  Harford Co., MD     11          Hydroelectric        Base-load        572   

Constellation Solar(e)

  Various     -          Solar        Base-load        115   

Cow Branch

  Atchinson Co., MO     24          Wind        Base-load        50   

Cowell

  Pipestone Co., MN     1        99        Wind        Base-load        2 (d) 

CP Windfarm

  Faribault Co., MN     2          Wind        Base-load        4   

Criterion

  Oakland, MD     28          Wind        Base-load        70   

Echo I

  Umatilla Co., OR     21        99        Wind        Base-load        35 (d) 

Echo II

  Morrow Co., OR     10          Wind        Base-load        20   

Echo III-Landowner

  Morrow Co., OR     6        99        Wind        Base-load        10 (d) 

Ewington

  Jackson Co., MN     10        99        Wind        Base-load        21 (d) 

Exelon Solar Chicago

  Cook Co., IL     n/a          Solar        Base-load        10   

 

 

 

27        


LOGO

 

 

 

Owned net electric generating capacity by station at December 31, 2012: (continued)

 

                                     Net  
                              Primary      Generation  
        Number         Percent        Primary         Dispatch         Capacity (b) 

Station

   Location      of Units         Owned (a)      Fuel Type         Type         (MW

 

 

Hydroelectric and Renewable

             

Exelon Wind 1

   Hansford Co., TX      8           Wind         Base-load         10   

Exelon Wind 2

   Hansford Co., TX      8           Wind         Base-load         10   

Exelon Wind 3

   Hansford Co., TX      8           Wind         Base-load         10   

Exelon Wind 4

   Hansford Co., TX      38           Wind         Base-load         80   

Exelon Wind 5

   Sherman Co., TX      8           Wind         Base-load         10   

Exelon Wind 6

   Sherman Co., TX      8           Wind         Base-load         10   

Exelon Wind 7

   Moore Co., TX      8           Wind         Base-load         10   

Exelon Wind 8

   Moore Co., TX      8           Wind         Base-load         10   

Exelon Wind 9

   Moore Co., TX      8           Wind         Base-load         10   

Exelon Wind 10

   Moore Co., TX      8           Wind         Base-load         10   

Exelon Wind 11

   Moore Co., TX      8           Wind         Base-load         10   

Fairless

   Falls Twp, PA      2           Landfill Gas         Base-load         60   

Greensburg

   Kiowa Co, KS      10           Wind         Base-load         13   

Harvest I

   Huron Co., MI      32           Wind         Base-load         53   

Harvest II

   Huron Co., MI      33           Wind         Base-load         59   

High Plains

   Moore Co., TX      8         99.5        Wind         Base-load         10 (d) 

HighMesa

   Twin Fall Co, ID      19           Wind         Base-load         40   

Loess Hills

   Atchinson Co., MO      4           Wind         Base-load         5   

Malacha

   Muck Valley, CA      1         50.0        Hydro         Base-load         16 (d) 

Marshall

   Lyon Co., MN      9         99.0        Wind         Base-load         19 (d) 

Michigan Wind I

   Bingham township, MI      46           Wind         Base-load         69   

Michigan Wind II

   Minden City, MI      50           Wind         Base-load         90   

Mountain Home

   Elsmore Co., ID      20           Wind         Base-load         42   

Muddy Run

   Lancaster Co., PA      8           Hydro         Intermediate         1,070   

Norgaard

   Lincoln Co., MN      7         99.0        Wind         Base-load         9 (d) 

Pennsbury

   Falls Twp., PA      2           Landfill Gas         Peaking         6   

Safe Harbor

   Safe Harbor, PA      12         66.7        Hydro         Base-load         277 (d) 

SEGS IV (12.2%)

   Kramer Junction, CA      n.a.         12.2        Solar         Base-load         4 (d) 

SEGS V (4.2%)

   Kramer Junction, CA      n.a.         4.2        Solar         Base-load         1 (d) 

SEGS VI (8.8%)

   Kramer Junction, CA      n.a.         8.8        Solar         Base-load         3 (d) 

Shooting Star

   Kiowa Co, KS      65           Wind         Base-load         104   

Threemile Canyon

   Morrow Co., OR      6           Wind         Base-load         10   

Tuana Springs

   Twin Fall Co, ID      8           Wind         Base-load         17   

Whitetail

   Webb, TX      57           Wind         Base-load         92   

Wildcat

   Lea, NM      13           Wind         Base-load         27   

Wolf

   Nobles Co.,MN      5         99.0        Wind         Base-load         6 (d) 
                

 

 

 
                   3,464   

 

 

 

        28


LOGO

 

 

 

Owned net electric generating capacity by station at December 31, 2012:

 

                                     Net  
                              Primary      Generation  
        Number         Percent        Primary         Dispatch         Capacity (b) 

Station

   Location      of Units         Owned (a)      Fuel Type         Type         (MW

 

 

Fossil (Internal Combustion/Diesel)

             

Conemaugh

   New Florence, PA      4         31.3%        Oil         Peaking         3 (d) 

Keystone

   Shelocta, PA      4         42.0%        Oil         Peaking         4 (d) 
                

 

 

 
                   7   

Fossil (Steam Turbines)(e)

             

Colver

   Colver Township, PA      1         25.0        Waste Coal         Base Load         26 (d) 

Conemaugh

   New Florence, PA      2         31.3        Coal         Base Load         531 (d) 

Eddy 3, 4

   Eddystone, PA      2           Oil/Gas         Intermediate         760   

Gould Street

   Baltimore, MD      1           Gas         Peaking         97   

Handley 3

   Fort Worth, TX      1           Gas         Intermediate         395   

Handley 4, 5

   Fort Worth, TX      2           Gas         Peaking         870   

Keystone

   Shelocta, PA      2         42.0        Coal         Base Load         714 (d) 

Mountain Creek 6, 7

   Dallas, TX      2           Gas         Peaking         240   

Mountain Creek 8

   Dallas, TX      1           Gas         Intermediate         565   

Mystic 7

   Charlestown, MA      1           Oil/Gas         Peaking         560   

Riverside 4

   Baltimore Co., MD      1           Gas         Peaking         74   

Sunnyside

   Sunnyside, UT      1         50.0        Waste Coal         Base Load         26 (d) 

Wyman 4

   Yarmouth      1         5.9%        Oil         Intermediate         36 (d) 
                

 

 

 
                   4,895   
                
                

 

 

 

Total Owned Generation (in MW)

                34,761   
                

 

 

 

Note: The sum of the individual plant capacities may not equal the category or overall totals due to rounding

(a) Ownership is 100% unless otherwise noted.
(b) For nuclear units, capacity reflects the annual mean rating. All other stations reflect a summer rating.
(c) On December 8, 2010, Exelon generation announced that it will permanently cease generation operation at Oyster Creek by December 31, 2019.
(d) Net generation capacity is stated at proportionate ownership share.

(e) Constellation Solar is an operation that constructs, owns and operates solar facilities at various customer locations.

 

 

 

29        


LOGO

 

 

 

Exelon Nuclear Fleet(a)(b)

(At December 31, 2012)

 

     Location           Owned Net      2012      Plant      NSSS       
Station    Water Body    Ownership      Capacity (MW)      Generation (GWh)            Type          Vendor        

Braidwood

   Braidwood, IL      100% Exelon         2,349         18,806         PWR         W      

2 units

   Kankakee River                  

Byron

   Byron, IL      100% Exelon         2,326         18,318         PWR         W      

2 units

   Rock River                  

Calvert Cliffs

   Lusby, MD      50.01% Exelon         877         6,783         PWR         CE      

2 units

   Chesapeake Bay      49.99% EDF                  

Clinton

   Clinton, IL      100% Exelon         1,067         9,375         BWR         GE      

1 unit

   Clinton Lake                  

Dresden

   Morris, IL      100% Exelon         1,790         14,802         BWR         GE      

2 units

   Kankakee River                  

LaSalle

   Seneca, IL      100% Exelon         2,327         19,595         BWR         GE      

2 units

   Illinois River                  

Limerick

   Limerick Township, PA      100% Exelon         2,314         18,156         BWR         GE      

2 units

   Schuylkill River(g)                  

Nine Mile Point

   Scriba, NY      44.20% Exelon(h)         798         5,864         BWR         GE      

2 units

   Lake Erie      44.19% EDF(h)                  
        11.61% LIPA(h)                  

Oyster Creek

   Forked River, NJ      100% Exelon         625         4,715         BWR         GE      

1 unit

   Barnegat Bay                  

Peach Bottom

   Peach Bottom, PA      50% Exelon         1,158         9,403         BWR         GE      

2 units

   Susquehanna River      50% PSEG Nuclear                  

Quad Cities

   Cordova, IL      75% Exelon         1,403         11,629         BWR         GE      

2 units

   Mississippi River      25% Mid-American                  
        Energy Holdings                  

R.E. Ginna

   Ontario, NY      50.01% Exelon         288         2,301         PWR         W      

1 unit

   Lake Erie      49.99% EDF                  

Salem

   Hancock’s Bridge, NJ      42.6% Exelon         1,006         8,026         PWR         W      

2 units

   Deleware Estuary      57.4% PSEG Nuclear                  

Three Mile

   Londonderry      100% Exelon         837         7,038         PWR         B&W      

Island

   Township, PA                  

1 unit

   Susquehanna River                                                  

 

Total

                   19,165         154,812                          

Notes: Average in-service time = 31 years

PWR = Pressurized Water Reactor; BWR = Boiling Water Reactor

NSSS = Nuclear Steam Supply System; W = Westinghouse; CE = Combustion Engineering; GE = General Electric;

B&W = Babcock & Wilcox Amounts may not add due to rounding

(a) Fleet also includes 4 units that have been shut down: Peach Bottom 1, Dresden 1, Zion 1 and 2  
(b) Total owned Capacity, net annual mean unit ratings, and 2011 Generation are stated at ownership portion.  
(c) Open – a system that circulates water withdrawn from the environment, returning it to its source at a higher temperature. Closed – a system that recirculates cooling water with waste heat dissipated to the atmosphere through evaporation.  
(d) 18-month refueling cycle.  
(e) 24-month refueling cycle  
(f) Dry cask storage will be in operation at all sites prior to the closing of spent fuel storage pools.  
(g) Supplemented with water from the Wadesville Mine Pool and the Still Creek Reservoir at Tamaqua via the Schuylkill River, and the Delaware Revier via the Bradshaw Reservoir at Perkiomen Creek.  
(h) CENG owns 100% of Nine Mile Point Unit 1 and 82% of Nine Mile Point Unit 2. The remaining interest in Nine Mile Point Unit 2 is owned by the Long Island Power Authority (LIPA)  
(i) On December 8, 2010, Generation announced that it will permanently cease generation operations at Oyster Creek by December 31, 2019.  

Nuclear Operating Data(a)

     2012      2011      2010  

 

 

Fleet capacity factor

     92.7%         93.3%         93.9%   

Fleet production cost per MWh

     $19.50         $18.86         $17.31   
(a) Excludes Salem, which is operated by PSEG.

Refueling Outages in 2012

– Conducted 10 refueling outages – including Salem

– Average refueling outage duration – excluding Salem: 30 days

 

 

        30


LOGO

 

 

 

 

     

 

Cooling Water

System

  

(c) 

   

 

Unit/

Ownership

  

  

   

 

Annual Mean

Rating (MW)

  

  

   

 

Start of Commercial

Operations

  

  

   

 

Current License

Expiration

  

  

 

Last Refueling

Completed

   

 

Spent Fuel Pool

Capacity Reached

  

(f) 

                   

 

 
 

Braidwood

    Closed        1/100     1,192        1988        2026      May-12(d)     Dry Cask Storage   
  (dedicated ponds)        2/100     1,157        1988        2027      Nov-12(d)     in operation   
 

Byron

    Closed        1/100     1,172        1985        2024      Oct-12(d)     Dry Cask Storage   
        2/100     1,154        1987        2026      Oct-11(d)     in operation   
 

Calvert Cliffs

    Open        1/50.01     445        1975        2034      Apr-12(e)     ISFSI in operation   
        2/50.01     432        1977        2036      Mar-11(e)  
 

Clinton

    Open        1/100     1,067        1987        2026      Dec-11(e)     2015   
 

Dresden

   
 
Partial
Open
  
  
    2/100     917        1970        2029      Nov-11(e)     Dry Cask Storage   
        3/100     873        1971        2031      Dec-12(e)     in operation   
 

LaSalle

    Closed        1/100     1,157        1984        2022      Mar-12(e)     Dry Cask Storage   
        2/100     1,170        1984        2023      Mar-13(e)     in operation   
 

Limerick

    Closed        1/100     1,157        1986        2024      Mar-12(e)     Dry Cask Storage   
        2/100     1,157        1990        2029      Apr-11(e)     in operation   
 

Nine Mile Point

    Open/        1/50.01     307        1970        2029      Apr-11(e)     Fuel pool not full;   
      Closed        2/41.01     491        1988        2046      Jun-12(e)     ISFSI under   
                  construction   
 

Oyster Creek

    Open        1/100     625        1969        2029 (i)    Dec-12(e)     Dry Cask Storage   
                  in operation   
 

Peach Bottom

    Open        2/50     574        1974        2033      Oct-12(e)     Dry Cask Storage   
        3/50     584        1974        2034      Oct-11(e)     in operation   
 

Quad Cities

    Open        1/75     700        1973        2032      Jun-11(e)     Dry Cask Storage   
        2/75     703        1973        2032      Apr-12(e)     in operation   
 

R.E. Ginna

    Open        1/50.01     288        1970        2029      Nov-12(d)     ISFSI in operation   
 

Salem

    Open        1/43     504        1977        2036      Nov-11(d)     Dry Cask Storage   
        2/43     502        1981        2040      Nov-12(d)     in operation   
 

Three Mile

    Closed        1/100     837        1974        2034      Nov-11(e)     2023   
 

Island

             
               

 

 
               

 

 

 

Nuclear Operating Data(a) (continued)

2012 Net Generation (excluding Salem): 131,838 MWh
Planned Refueling Outages (including Salem)

2010:     10 actual                 2013: 10 planned

  

2011:     12 actual                 2014: 11 planned

  

2012:     10 actual                 2015: 11 planned

  

 

CENG Nuclear Operating data

        
     2012      2011      2010  

 

 

Fleet capacity factor

     86.7%         92.0%         93.4%   

Fleet production cost per MWh

     $31.10         $25.35         $21.33   

Refueling Outages in 2012

        

– Conducted 3 refueling outages

        

 

Planned Refueling Outages

2011:     3 actual                2014: 3 planned

  

2012:     3 actual                2015: 3 planned

  

2013:     2 planned             2016: 2 planned

  

 

 

 

31        


LOGO

 

 

 

Owned generation as of December 31, 2012, unless otherwise noted. Table does not include station auxiliary equipment or plants comprised solely of peaking combustion turbines. 2012 data is presented for the full calendar year.

 

                                                                                                        
           Net Generation Available for Sale (GWh)       
                                 
                                 
                                 
Fossil Station (Location) / Water Body     

 

Capacity

(MW)

(a) 

  

    2012         2011         2010        
             

Brandon Shores(c) (Baltimore, MD) / Patapsco River

     1,273        4,605         5,868         6,032      

Units: 2 coal units (baseload) – Divested

             
                                         

Conemaugh (New Florence, PA) / Conemaugh River

     531        3,324         3,382         3,803      

Units: 2 coal units (baseload)

             

Data reflects Exelon Generation’s 31.28% plant ownership.

             
                                         
             

Colorado Bend Energy Center (Wharton, TX) / Colorado River

     498        1,644         1,524         819      

Units: 4 2x1 CCGTs & 2 steam generators (intermediate)

             
                                         
             

C.P. Crane(c) (Baltimore, MD) / Seneca Creek

     399        597         970         845      

Units: 2 coal units (intermediate) & 1 oil combustion turbine (peaking)

             
                                         
             

Eddystone(b) (Eddystone, PA) / Delaware River

     820        46         427         2,033      

Units: 2 coal units (intermediate) – Retired,

             

2 oil/gas steam units (intermediate), 4 combustion turbines (peaking)

                                       
             

Fairless Hills (Falls Township, PA) / Delaware River(d)

     60        247         242         239      

Units: 2 landfill gas units (peaking)

             
                                         
             

Fore River (North Weymouth, MA) / Town River

     688        4,048         4,781         

Units: 4 2x1 CCGTs & 3 steam generators (intermediate)

             
                                         
             

Gould Street (Baltimore MD) / Patapsco River

     97        40         21         22      

Units: 1 gas steam unit (peaking)

             
                                         
             

Handley (Ft. Worth, TX) / Lake Arlington

     1,265        858         585         362      

Units: 3 gas steam units (2 peaking/1 intermediate)

             
                                         
             

H.A. Wagner(c) (Baltimore, MD) / Patapsco River

     976        1,097         1,538         1,644      

Units: 1 oil/gas steam unit, 2 coal units, 1 oil steam unit,

             

& 1 oil combustion turbine (intermediate) – Divested

                                       
 

 

        32


LOGO

 

 

 

 

    Emissions (thousand tons)      Reduction Technology       
                                                        
                                    Post     Low NOx             
                                    combustion     burners with     Induced    Cooling  
                              SO2     NOx controls     separated     flue gas    Water  
     Type    2012      2011      2010      Scrubber     (SCR or SNCR)     overfire air     recirculation    System  
 

Brandon Shores

                    
 

SO2

     2.8         2.8         1.3         X            
 

NOx

     4.0         4.8         3.8           X        X        
   

CO2

     5,204         6,610         6,330                                      Closed   
 

Conemaugh

                    
 

SO2

     2.0         2.3         2.2         X            
 

NOx

     5.1         5.5         6.0           2015        X        
   

CO2

     3,368         3,349         3,756                                      Closed   
 

Colorado Bend

                    
 

SO2

     *         *         *               
 

NOx

     0.1         0.1         0.1               
   

CO2

     830         759         513                                      Closed   
 

C.P. Crane

                    
 

SO2

     1.7         5.7         5.6               
 

NOx

     1.6         2.5         2.5           X          
   

CO2

     815         1,242         1,050                                      Open   
 

Eddystone

                    
 

SO2

     0.1         0.9         4.9         X            
 

NOx

     0.1         0.8         3.8         (Coal Units     X        X        
   

CO2

     99         577         2,750                 (Coal Units     (Coal Units          Open   
 

Fairless Hills

                    
 

SO2

     0.1         0.1         0.1               
 

NOx

     0.1         0.1         0.1               
   

CO2

     353         208         201                                      Open   
 

Fore River

                    
 

SO2

     *         *                  
 

NOx

     0.1         0.1              X          
   

CO2

     1,733         2,018                                               Closed   
 

Gould Street

                    
 

SO2

     *         *         *               
 

NOx

     *         *         *             X        
   

CO2

     29         17         18                                      Open   
 

Handley

                    
 

SO2

     *         *         *               
 

NOx

     0.1         0.1         *           X          
   

CO2

     601         422         264                                      Open   
 

H.A Wagner

                    
 

SO2

     7.5         9.1         9.2               
 

NOx

     1.6         1.7         1.5           X        X        
   

CO2

     1,361         1,760         1,820                                      Open   
                                                        

 

 

 

33        


LOGO

 

 

 

Owned generation as of December 31, 2012, unless otherwise noted. Table does not include station auxiliary equipment or plants comprised solely of peaking combustion turbines. 2012 data is presented for the full calendar year.

 

           Net Generation Available for Sale (GWh)       
                                 
                                 
                                 
     Capacity (a)            
Fossil Station (Location) / Water Body    (MW)     2012      2011      2010        
             
             

Hillabee Energy Center (Alexander City, AL) / Municipal Supply

     684        5,007         4,166         2,389      

Units: 2 2x1 CCGTs & 1 steam generator (intermediate)

             
                                       
             
             

Keystone (Shelocta, PA) / Keystone Lake(f)

     714        3,998         4,697         5,688      

Units: 2 coal units (baseload)

             

Data reflects Exelon Generation’s 41.98% plant ownership.

                                       
             
             

Mountain Creek (Dallas, TX) / Mountain Creek cooling pond

     717        847         627         726      

Units: 3 gas steam units (2 peaking/1 intermediate)

             
                                       
             
             

Mystic & Mystic Jet (Charlestown, MA) / Mystic River

     1,951        8,627         9,324         

Units: 4 2x1 CCGT, 3 steam generators

             

& 1 combustion turbine (intermediate)

                                       
             
             

Quail Run Energy Center (Odessa, TX) / Municipal

     488        416         681         736      

Units: 4 2x1 CCGT & 2 steam generators (intermediate)

             
                                       
             
             

Riverside (Baltimore, MD) / Patapsco River

     228        27         20         13      

Units: 1 gas steam unit & 3 gas/oil combustion turbines (peaking)

             
                                       
             
             

Schuylkill (Philadelphia, PA) / Schuylkill River

     196        <1         6         8      

Units: 1 oil steam unit (peaking), 2 combustion turbines (peaking)

             
                                       
             
             

Wolf Hollow(e) (Granbury, TX) / Lake Granbury

     705        2,604         654         

Units: 2 gas combined cycle turbines and 1 steam generator (intermediate)

             
                                       

 

(a) Capacity reflects summer rating and is reported at ownership portion. Divested plant capacity is as of 12/31/11. Capacity presented does not reflect retired unit capacity.
(b) Eddystone Unit 1 (coal) was retired on May 31, 2011; Eddystone Unit 2 (coal) was retired on May 31, 2012. Retired unit capacity is not included in plant totals.
(c) Constellation’s Maryland coal plants were divested in 2012 according to the terms of the merger agreement with the state of Maryland. 2012 data for divested coal plants is estimated for period of ownership in 2012.
(d) Fairless Hills CO2 emissions include biogenic CO2 from landfill gas; biogenic CO2 accounted for 98% of CO2 emissions in 2012.
(e) Wolf Hollow generating station was acquired effective August 25, 2011; no data prior to the acquisition are included.
(f) Exelon, along with the other co-owners of Conemaugh Generating Station are moving forward with plans to improve the existing scrubbers and install Selective Catalytic Reduction (SCR) controls to meet the mercury removal requirements of MATS by January 1, 2015.
 

 

        34


LOGO

 

 

 

    Emissions (thousand tons)      Reduction Technology        
                                                           
                                     Post     Low NOx               
                                     combustion     burners with      Induced     Cooling  
                              SO2      NOx controls     separated      flue gas     Water  
     Type    2012      2011      2010      Scrubber      (SCR or SNCR)     overfire air      recirculation     System  
  Hillabee                      
  Energy Ctr.                      
  SO2      *         *         *                
  NOx      0.2         0.1         0.1            X          
    CO2      2,123         1,786         1,020                                           Closed   
  Keystone                      
  SO2      12.4         19.5         16.4         X             
  NOx      7.3         8.7         2.3            X        X        
   

CO2

 

     4,121         4,766         5,607                                           Closed   
 

 

Mountain

                     
  Creek                      
  SO2      *         *         *                
  NOx      0.2         0.1         0.1            X           X     
    CO2      571         457         489                  (Unit 8              (Units 6, 7     Open   
 

 

Mystic &

                     
  Mystic Jet                      
  SO2      *         *                   
  NOx      0.3         0.3               X        X        
    CO2      3,735         4,102                                                    Closed   
  Quail Run                      
  Energy Cnt.                      
  SO2      *         *         *                
  NOx      0.1         0.1         0.1            X        X        
    CO2      245         398         360                                           Closed   
 

 

Riverside

                     
  SO2      *         *         *                
  NOx      *         *         *                
  CO2      21         20         13                   Open   
                                                                           
  Schuylkill                      
  SO2      *         *         *                
  NOx      *         *         *                
 

CO2

 

     1         15         16                   Open   
                                                                           
  Wolf                      
  Hollow                      
  SO2      *         *                   
  NOx      0.4         0.1               X          
   

CO2

 

     1,231         330                                                    Closed   

*Indicates emissions less than 50 tons.

 

 

 

35        


LOGO

 

 

 

Contracted Generation (in MWs) as of December 31, 2012

                                                              
      2013      2014      2015  

ERCOT

        

Oil/Gas

     885         885         830   

Renewables

     203         203         203   

 

 

Total

     1,088         1,088         1,033   

Mid-Atlantic(a)

        

Oil/Gas

     695         695         695   

Renewables

     278         221         221   

 

 

Total

     973         916         916   

Midwest

        

Coal

     1,158                   

Oil/Gas

     1,157         1,157         1,157   

Renewables

     666         612         612   

 

 

Total

     2,981         1,769         1,769   

NEPOOL

        

Oil/Gas

     620         620         620   

Renewables

     17         17         17   

 

 

Total

     637         637         637   

New York(a)

        

Nuclear

     100                   

 

 

Total

     100                   

South/West/Canada

        

Oil/Gas

     3,184         3,184         3,184   

Renewables

     332         332         332   

 

 

Total

 

    

 

3,516

 

  

 

    

 

3,516

 

  

 

    

 

3,516

 

  

 

 

 

Total Contracted Generation

     9,296         7,926         7,871   

 

 

(a) Excludes PPA with CENG

 

Exelon Corporation

10 South Dearborn Street, 52nd Floor

Chicago, IL 60603

www.exeloncorp.com

© Exelon Corporation, 2013

 

 

 

        36