Regulatory Matters (Tables)

3 Months Ended

Mar. 31, 2014

March 31, 2014		Exelon				ComEd				PECO				BGE

Regulatory assets		Current		Noncurrent		Current		Noncurrent		Current		Noncurrent		Current		Noncurrent
Pension and other postretirement
	benefits	$	218	$	2,777	$	0	$	0	$	0	$	0	$	0	$	0
Deferred income taxes			14		1,474		2		67		0		1,333		12		74
AMI programs			6		186		6		43		0		65		0		78
Under-recovered distribution service
	costs		197		262		197		262		0		0		0		0
Debt costs			12		54		9		51		3		3		1		8
Fair value of BGE long-term debt ^(a)			6		206		0		0		0		0		0		0
Fair value of BGE supply contract^(b)			9		0		0		0		0		0		0		0
Severance			10		12		6		0		0		0		4		12
Asset retirement obligations			1		108		1		72		0		25		0		11
MGP remediation costs			44		201		37		168		6		32		1		1
RTO start-up costs			2		0		2		0		0		0		0		0
Under-recovered uncollectible
	accounts		0		74		0		74		0		0		0		0
Renewable energy			13		155		13		155		0		0		0		0
Energy and transmission programs			51		0		50		0		1		0		0		0
Deferred storm costs			3		2		0		0		0		0		3		2
Electric generation-related
	regulatory asset		13		27		0		0		0		0		13		27
Rate stabilization deferral			72		133		0		0		0		0		72		133
Energy efficiency and demand
	response programs		57		146		0		0		0		0		57		146
Merger integration costs			2		8		0		0		0		0		2		8
Other			38		38		17		26		18		7		3		4

Total regulatory assets		$	768	$	5,863	$	340	$	918	$	28	$	1,465	$	168	$	504

March 31, 2014		Exelon				ComEd				PECO					BGE

Regulatory liabilities		Current		Noncurrent		Current		Noncurrent		Current			Noncurrent		Current			Noncurrent
Other postretirement benefits		$	2	$	47	$	0	$	0	$	0		$	0	$	0		$	0
Nuclear decommissioning			0		2,774		0		2,319		0			455		0			0
Removal costs			105		1,440		81		1,237		0			0		24			203
Energy efficiency and demand
	response programs		40		0		39		0		1			0		0			0
DLC Program Costs			1		11		0		0		1			11		0			0
Energy efficiency Phase 2			0		31		0		0		0			31		0			0
Electric distribution tax repairs			22		108		0		0		22			108		0			0
Gas distribution tax repairs			8		36		0		0		8			36		0			0
Energy and transmission programs			76		10		0		10		43	^(c)		0		33	^(f)		0
Over-recovered gas and electric
	universal service fund costs		7		0		0		0		7			0		0			0
Revenue subject to refund ^(d)			38		0		38		0		0			0		0			0
Over-recovered gas and electric
	revenue decoupling^(e)		35		0		0		0		0			0		35			0
Other			2		1		0		0		2			0		0			0

Total regulatory liabilities		$	336	$	4,458	$	158	$	3,566	$	84		$	641	$	92		$	203

December 31, 2013		Exelon				ComEd				PECO				BGE

Regulatory assets		Current		Noncurrent		Current		Noncurrent		Current		Noncurrent		Current			Noncurrent
Pension and other postretirement
	benefits	$	221	$	2,794	$	0	$	0	$	0	$	0	$	0		$	0
Deferred income taxes			10		1,459		2		65		0		1,317		8			77
AMI programs			5		159		5		35		0		58		0			66
AMI meter events			0		5		0		0		0		5		0			0
Under-recovered distribution service
	costs		178		285		178		285		0		0		0			0
Debt costs			12		56		9		53		3		3		1			8
Fair value of BGE long-term debt^(a)			0		219		0		0		0		0		0			0
Fair value of BGE supply contract ^(b)			12		0		0		0		0		0		0			0
Severance			16		12		12		0		0		0		4			12
Asset retirement obligations			1		102		1		67		0		25		0			10
MGP remediation costs			40		212		33		178		6		33		1			1
RTO start-up costs			2		0		2		0		0		0		0			0
Under-recovered uncollectible
	accounts		0		48		0		48		0		0		0			0
Renewable energy			17		176		17		176		0		0		0			0
Energy and transmission programs			53		0		52		0		0		0		1	(f)		0
Deferred storm costs			3		3		0		0		0		0		3			3
Electric generation-related
	regulatory asset		13		30		0		0		0		0		13			30
Rate stabilization deferral			71		154		0		0		0		0		71			154
Energy efficiency and demand
	response programs		73		148		0		0		0		0		73			148
Merger integration costs			2		9		0		0		0		0		2			9
Other			31		39		18		26		8		7		4			6

Total regulatory assets		$	760	$	5,910	$	329	$	933	$	17	$	1,448	$	181		$	524

December 31, 2013		Exelon				ComEd				PECO					BGE

Regulatory liabilities		Current		Noncurrent		Current		Noncurrent		Current			Noncurrent		Current			Noncurrent
Other postretirement benefits		$	2	$	43	$	0	$	0	$	0		$	0	$	0		$	0
Nuclear decommissioning			0		2,740		0		2,293		0			447		0			0
Removal costs			99		1,423		78		1,219		0			0		21			204
Energy efficiency and demand
	response programs		53		0		45		0		8			0		0			0
DLC Program Costs			1		10		0		0		1			10		0			0
Energy efficiency phase II			0		21		0		0		0			21		0			0
Electric distribution tax repairs			20		114		0		0		20			114		0			0
Gas distribution tax repairs			8		37		0		0		8			37
Energy and transmission programs			78		0		9		0		58	^(c)		0		11	^(f)		0
Over-recovered gas and electric
	universal service fund costs		8		0		0		0		8			0		0			0
Revenue subject to refund ^(d)			38		0		38		0		0			0		0			0
Over-recovered electric and gas
	revenue decoupling^(e)		16		0		0		0		0			0		16			0
Other			4		0		0		0		3			0		0			0

Total regulatory liabilities		$	327	$	4,388	$	170	$	3,512	$	106		$	629	$	48		$	204

Represents the regulatory asset recorded at Exelon Corporate for the difference in the fair value of the long-term debt of BGE as of the merger date. The asset is amortized over the life of the underlying debt. See Note 8 – Debt and Credit Agreements for additional information.
Represents the regulatory asset recorded at Exelon Corporate representing the fair value of BGE's supply contracts as of the close of the merger date. BGE is allowed full recovery of the costs of its electric and gas supply contracts through approved, regulated rates. The asset is amortized over a period of approximately 3 years.
Includes $32 million related to the DSP program, $0 million related to the over-recovered natural gas costs under the PGC and $11 million related to over-recovered electric transmission costs as of March 31, 2014. As of December 31, 2013, includes $34 million related to the DSP program, $8 million related to the over-recovered electric transmission costs and $16 million related to the over-recovered natural gas costs under the PGC.
Primarily represents the regulatory liability for revenue subject to refund recorded pursuant to the ICC's order in the 2007 Rate Case. See Note 3 – Regulatory Matters of the Exelon 2013 Form 10-K. for further information.
Represents the electric and gas distribution costs recoverable from customers under BGE's decoupling mechanism. As of March 31, 2014, BGE had a regulatory liability of $14 million related to over-recovered electric revenue decoupling and $21 million related to over-recovered natural gas revenue decoupling. As of December 31, 2013, BGE had a regulatory liability of $7 million related to over-recovered electric revenue decoupling and $9 million related to over-recovered natural gas revenue decoupling.
Relates to $3 million of over-recovered electric supply costs and $30 million of over-recovered natural gas supply costs as of March 31, 2014. As of December 31, 2013, includes $1 million of under-recovered electric supply costs and $11 million of over-recovered natural gas supply costs.

As of March 31, 2014	Exelon		ComEd		PECO		BGE
Purchased receivables^(a)	$	330	$	125	$	93	$	112
Allowance for uncollectible accounts ^(b)		(36)		(19)		(10)		(7)
Purchased receivables, net	$	294	$	106	$	83	$	105

As of December 31, 2013	Exelon		ComEd		PECO		BGE
Purchased receivables^(a)	$	263	$	105	$	72	$	86
Allowance for uncollectible accounts ^(b)		(30)		(16)		(7)		(7)
Purchased receivables, net	$	233	$	89	$	65	$	79

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(a) PECO's gas POR program became effective on January 1, 2012 and includes a 1% discount on purchased receivables in order to recover the implementation costs of the program. If the costs are not fully recovered when PECO files its next gas distribution rate case, PECO will propose a mechanism to recover the remaining implementation costs as a distribution charge to low volume transportation customers or apply future discounts on purchased receivables from natural gas suppliers serving those customers.

(b) For ComEd and BGE, reflects the incremental allowance for uncollectible accounts recorded, which is in addition to the purchase discount. For ComEd, the incremental uncollectible accounts expense is recovered through its Purchase of Receivables with Consolidated Billing (PORCB) tariff.