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Regulatory Matters (Tables)
 6 Months Ended
Jun. 30, 2014
Regulatory Matters [Line Items]  
Regulatory assets and liabilities
June 30, 2014Exelon ComEd PECO BGE
                             
Regulatory assetsCurrent Noncurrent  Current Noncurrent  Current Noncurrent  Current Noncurrent 
Pension and other postretirement                           
 benefits$208 $2,510  $0 $0  $0 $0  $0 $0 
Deferred income taxes 13  1,495   1  68   0  1,358   12  69 
AMI programs 7  222   7  56   0  72   0  94 
Under-recovered distribution service                            
 costs 219  220   219  220   0  0   0  0 
Debt costs 10  51   8  49   2  2   1  8 
Fair value of BGE long-term debt (a) 7  198   0  0   0  0   0  0 
Fair value of BGE supply contract (b) 6  0   0  0   0  0   0  0 
Severance 4  11   0  0   0  0   4  11 
Asset retirement obligations  1  110   1  73   0  26   0  11 
MGP remediation costs  40  196   33  165   6  30   1  1 
RTO start-up costs  1  0   1  0   0  0   0  0 
Under-recovered uncollectible                            
 accounts 0  70   0  70   0  0   0  0 
Renewable energy  13  121   13  121   0  0   0  0 
Energy and transmission programs 17  4   12  0   0  0   5(f) 4 
Deferred storm costs 3  1   0  0   0  0   3  1 
Electric generation-related                            
 regulatory asset 13  24   0  0   0  0   13  24 
Rate stabilization deferral 73  119   0  0   0  0   73  119 
Energy efficiency and demand                           
 response programs 63  148   0  0   0  0   63  148 
Merger integration costs 2  7   0  0   0  0   2  7 
Conservation voltage reduction 0  1   0  0   0  0   0  1 
Other  32  37   9  28   21  7   1  1 
                             
Total regulatory assets$732 $5,545  $304 $850  $29 $1,495  $178 $499 

June 30, 2014Exelon ComEd PECO BGE
                             
Regulatory liabilitiesCurrent Noncurrent  Current Noncurrent  Current Noncurrent  Current Noncurrent 
Other postretirement benefits$53 $111  $0 $0  $0 $0  $0 $0 
Nuclear decommissioning 0  2,917   0  2,427   0  490   0  0 
Removal costs  107  1,449   83  1,248   0  0   24  201 
Energy efficiency and demand                            
 response programs 14  2   14  0   0  2   0  0 
DLC Program Costs 1  9   0  0   1  9   0  0 
Energy efficiency Phase 2 0  32   0  0   0  32   0  0 
Electric distribution tax repairs 20  104   0  0   20  104   0  0 
Gas distribution tax repairs 8  34   0  0   8  34   0  0 
Energy and transmission programs 89  11   19  11   52(c) 0   18(f) 0 
Over-recovered gas and electric                           
 universal service fund costs 5  0   0  0   5  0   0  0 
Revenue subject to refund (d) 47  0   47  0   0  0   0  0 
Over-recovered gas and electric                           
 revenue decoupling (e) 21  0   0  0   0  0   21  0 
Other 3  1   1  0   2  0   0  1 
                             
Total regulatory liabilities $368 $4,670  $164 $3,686  $88 $671  $63 $202 
                            

December 31, 2013Exelon ComEd PECO BGE
                             
Regulatory assetsCurrent 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, 2013Exelon ComEd PECO BGE
                             
Regulatory liabilitiesCurrent 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 10 – 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 $26 million related to the DSP program, $19 million related to the over-recovered natural gas costs under the PGC and $7 million related to over-recovered electric transmission costs as of June 30, 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 June 30, 2014, BGE had a regulatory liability of $3 million related to over-recovered electric revenue decoupling and $18 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 $1 million of under-recovered electric supply costs, $4 million associated with the transmission formula rate and $18 million of over-recovered natural gas supply costs as of June 30, 2014. As of December 31, 2013, includes $1 million of under-recovered electric supply costs, $0 million associated with the transmission formula rate and $11 million of over-recovered natural gas supply costs.

 

As of June 30, 2014Exelon ComEd PECO BGE
Purchased receivables (a)$ 270 $ 116 $ 75 $ 79
Allowance for uncollectible accounts (b)  (32)   (17)   (8)   (7)
Purchased receivables, net$ 238 $ 99 $ 67 $ 72
             
As of December 31, 2013Exelon 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

__________

(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.