Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2015

Environmental Loss Contingency Tables [Abstract]

Schedule of Government Settlement Agreements

Energy Commitments

Utility Energy Purchase Commitments

Other Purchase Obligation

Fuel Purchase Commitments

Commercial Commitments

PECO’s commercial commitments as of December 31, 2015, representing commitments potentially triggered by future events, were as follows:

			Expiration within
	Total		2016		2017		2018		2019		2020		2021 and beyond
Letters of credit (non-debt)(a)	$	22	$	22	$	—	$	—	$	—	$	—	$	—
Surety bonds(b)	9		9		—		—		—		—		—
Financing trust guarantees(c)	178		—		—		—		—		—		178
Total commercial commitments	$	209	$	31	$	—	$	—	$	—	$	—	$	178

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(a) Letters of credit (non-debt)—PECO maintains non-debt letters of credit to provide credit support for certain transactions as requested by third parties.

(b) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.

(c) Performance guarantees—Reflects full and unconditional guarantee of Trust Preferred Securities of PECO Trust III and IV, which are 100% owned finance subsidiaries of PECO.

ComEd’s commercial commitments as of December 31, 2015, representing commitments potentially triggered by future events, were as follows:

			Expiration within
	Total		2016		2017		2018		2019		2020		2021 and beyond
Letters of credit (non-debt)(a)	$	16	$	16	$	—	$	—	$	—	$	—	$	—
Surety bonds(b)	8		6		—		2		—		—		—
Financing trust guarantees(c)	200		—		—		—		—		—		200
Total commercial commitments	$	224	$	22	$	—	$	2	$	—	$	—	$	200

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(a) Letters of credit (non-debt)—ComEd maintains non-debt letters of credit to provide credit support for certain transactions as requested by third parties.

(b) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.

(c) Performance guarantees—Reflects full and unconditional guarantee of Trust Preferred Securities of ComEd Financing III which is a 100% owned finance subsidiary of ComEd.

Exelon’s commercial commitments as of December 31, 2015, representing commitments potentially triggered by future events, were as follows:

			Expiration within
	Total		2016		2017		2018		2019		2020		2021 and beyond
Letters of credit (non-debt)(a)	$	1,583	$	1,565	$	5	$	—	$	—	$	13	$	—
Surety bonds(b)	809		733		49		3		2		16		6
Financing trust guarantees(c)	628		—		—		—		—		—		628
Energy marketing contract guarantees(d)	3,126		3,126		—		—		—		—		—
Nuclear insurance premiums(e)	3,060		—		—		—		—		—		3,060
Total commercial commitments	$	9,206	$	5,424	$	54	$	3	$	2	$	29	$	3,694

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(a) Letters of credit (non-debt)—Exelon and certain of its subsidiaries maintain non-debt letters of credit to provide credit support for certain transactions as requested by third parties.

(b) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.

(c) Includes $200 million of Trust Preferred Securities of ComEd Financing III, $178 million of Trust Preferred Securities of PECO Trust III and IV and $250 million of Trust Preferred Securities of BGE Capital Trust II.

(d) Energy marketing contract guarantees—Guarantees issued to ensure performance under energy commodity contracts. Amount includes approximately $3.1 billion of guarantees issued by Exelon and Generation on behalf of its Constellation businesses to allow it the flexibility needed to conduct business with counterparties without having to post other forms of collateral. The majority of these guarantees contain evergreen provisions that require the guarantee to remain in effect until cancelled. Exelon’s estimated net exposure for obligations under commercial transactions covered by these guarantees is approximately $0.5 billion at December 31, 2015, which represents the total amount Exelon could be required to fund based on December 31, 2015 market prices.

(e) Nuclear insurance premiums—Represents the maximum amount that Generation would be required to pay for retrospective premiums in the event of nuclear disaster at any domestic site under the Secondary Financial Protection pool as required under the Price-Anderson Act as well as the current aggregate annual retrospective premium obligation that could be imposed by NEIL. See the Nuclear Insurance section within this note for additional details on Generation’s nuclear insurance premiums.

BGE’s commercial commitments as of December 31, 2015, representing commitments potentially triggered by future events, were as follows:

			Expiration within
	Total		2016		2017		2018		2019		2020		2021 and beyond
Letters of credit (non-debt)(a)	$	2	$	2	$	—	$	—	$	—	$	—	$	—
Surety bonds(b)	10		10		—		—		—		—		—
Financing trust guarantees(c)	250		—		—		—		—		—		250
Total commercial commitments	$	262	$	12	$	—	$	—	$	—	$	—	$	250

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(a) Letters of credit (non-debt)—BGE maintains non-debt letters of credit to provide credit support for certain transactions as requested by third parties.

(b) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.

(c) Performance guarantee—Reflects full and unconditional guarantee of Trust Preferred Securities of BGE Capital Trust which is an unconsolidated VIE of BGE.

Generation’s commercial commitments as of December 31, 2015, representing commitments potentially triggered by future events, were as follows:

			Expiration within
	Total		2016		2017		2018		2019		2020		2021 and beyond
Letters of credit (non-debt)(a)	$	1,503	$	1,485	$	5	$	—	$	—	$	13	$	—
Surety bonds	737		692		45		—		—		—		—
Energy marketing contract guarantees(b)	1,532		1,532		—		—		—		—		—
Nuclear insurance premiums(c)	3,060		—		—		—		—		—		3,060
Total commercial commitments	$	6,832	$	3,709	$	50	$	—	$	—	$	13	$	3,060

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(a) Letters of credit (non-debt)—Non-debt letters of credit maintained to provide credit support for certain transactions as requested by third parties.

(b) Energy marketing contract guarantees—Guarantees issued to ensure performance under energy commodity contracts. Amount includes approximately $1.5 billion of guarantees issued by Generation on behalf of its Constellation businesses to allow it the flexibility needed to conduct business with counterparties without having to post other forms of collateral. The majority of these guarantees contain evergreen provisions that require the guarantee to remain in effect until cancelled. Generation’s estimated net exposure for obligations under commercial transactions covered by these guarantees is approximately $0.3 billion at December 31, 2015, which represents the total amount Generation could be required to fund based on December 31, 2015 market prices.

(c) Nuclear insurance premiums — Represents the maximum amount that Generation would be required to pay for retrospective premiums in the event of nuclear disaster at any domestic site, including CENG sites, under the Secondary Financial Protection pool as required under the Price-Anderson Act as well as the current aggregate annual retrospective premium obligation that could be imposed by NEIL. See the Nuclear Insurance section within this note for additional details on Generation’s nuclear insurance premiums.

Other Commitments

Operating Leases Of Lessee Disclosure

Minimum future operating lease payments, including lease payments for contracted generation, vehicles, real estate, computers, rail cars, operating equipment and office equipment, as of December 31, 2015 were:

	Exelon (a)		Generation(a)(b)		ComEd (c)		PECO (c)		BGE (c)(d)
2016	$	133	$	86	$	14	$	3	$	12
2017	109		69		9		3		10
2018	86		57		5		2		9
2019	74		45		5		2		8
2020	70		44		3		2		7
Remaining years	702		655		1		—		19
Total minimum future lease payments	$	1,174	$	956	$	37	$	12	$	65

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(a) Excludes Generation’s contingent operating lease payments associated with contracted generation agreements.

(b) The Generation column above includes minimum future lease payments associated with a 20-year lease agreement for the Baltimore headquarters that became effective during the second quarter of 2015. Generation’s total commitments under the lease agreement are $4 million, $10 million, $11 million, $13 million, $14 million, and $271 million related to years 2016, 2017, 2018, 2019, 2020 and thereafter, respectively.

(c) Amounts related to certain real estate leases and railroad licenses effectively have indefinite payment periods. As a result, ComEd, PECO and BGE have excluded these payments from the remaining years, as such amounts would not be meaningful. ComEd’s, PECO’s, and BGE’s annual obligation for these arrangements, included in each of the years 2016—2020, was $2 million, $3 million, and $1 million respectively.

(d) Includes all future lease payments on a 99 year real estate lease that expires in 2106.

Operating Leases Rent Expense

The following table presents the Registrants’ rental expense under operating leases for the years ended December 31, 2015, 2014 and 2013:

For the Year Ended December 31,	Exelon		Generation (a)		ComEd		PECO		BGE
2015	$	922	$	851	$	12	$	9	$	32
2014	865		806		15		14		12
2013	806		744		15		21		11

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(a) Includes contingent operating lease payments associated with contracted generation agreements that are not included in the minimum future operating lease payments table above. Payments made under Generation’s contracted generation lease agreements totaled $798 million, $755 million and $694 million during 2015, 2014 and 2013, respectively.

Accrued environmental liabilities

As of December 31, 2015 and 2014, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Other current liabilities and Other deferred credits and other liabilities within their respective Consolidated Balance Sheets:

December 31, 2015	Total environmental investigation and remediation reserve		Portion of total related to MGP investigation and remediation (a)
Exelon	$	369	$	301
Generation	63		—
ComEd	266		264
PECO	37		35
BGE (a)	3		2

December 31, 2014	Total environmental investigation and remediation reserve		Portion of total related to MGP investigation and remediation
Exelon	$	347	$	277
Generation	63		—
ComEd	238		235
PECO	45		42
BGE	1		—