Regulatory Matters (Tables)

6 Months Ended

Jun. 30, 2017

Regulated Operations [Abstract]

Public Utilities General Disclosures [Table Text Block]

The following total increases/(decreases) were included in ComEd’s, BGE’s, Pepco's, DPL's and ACE's electric transmission formula rate filings:

	2017
Annual Transmission Filings(a)	ComEd			BGE			Pepco			DPL			ACE
Initial revenue requirement     increase	$	44		$	31		$	5		$	6		$	20
Annual reconciliation (decrease) increase	(33		)	3			15			8			22
Dedicated facilities decrease (b)	—			(8		)	—			—			—
Total revenue requirement increase	$	11		$	26		$	20		$	14		$	42
Allowed return on rate base (c)	8.43		%	7.47		%	7.92		%	7.16		%	8.02		%
Allowed ROE (d)	11.50		%	10.50		%	10.50		%	10.50		%	10.50		%

_____________

(a) All rates are effective June 2017, subject to review by the FERC and other parties, which is due by fourth quarter 2017.

(b) BGE's transmission revenues include a FERC approved dedicated facilities charge to recover the costs of providing transmission service to specifically designated load by BGE.

(c) Represents the weighted average debt and equity return on transmission rate bases.

(d) As part of the FERC-approved settlement of ComEd’s 2007 transmission rate case, the rate of return on common equity is 11.50% and the common equity component of the ratio used to calculate the weighted average debt and equity return for the transmission formula rate is currently capped at 55%. As part of the FERC-approved settlement of the ROE complaint against BGE, Pepco, DPL and ACE, the rate of return on common equity is 10.50%, inclusive of a 50 basis point incentive adder for being a member of a regional transmission organization.

	Exelon		ComEd(a)		PECO		BGE(b)		PHI		Pepco(c)		DPL(c)		ACE
June 30, 2017	$	71	$	6	$	—	$	55	$	10	$	6	$	4	$	—
	Exelon		ComEd(a)		PECO		BGE(b)		PHI		Pepco(c)		DPL(c)		ACE
December 31, 2016	$	72	$	5	$	—	$	57	$	10	$	6	$	4	$	—

_________________________

(a) Reflects ComEd's unrecognized equity returns earned for ratemaking purposes on its under-recovered distribution services costs regulatory assets.

(b) BGE's authorized amounts capitalized for ratemaking purposes relate to earnings on shareholders' investment on its AMI Programs.

Schedule of Regulatory Assets

The following tables provide information about the regulatory assets and liabilities of Exelon, ComEd, PECO, BGE, PHI, Pepco, DPL and ACE as of June 30, 2017 and December 31, 2016. For additional information on the specific regulatory assets and liabilities, refer to Note 3 — Regulatory Matters of the Exelon 2016 Form 10-K.

									Successor
June 30, 2017	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and other postretirement benefits (a)	$	4,086	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Deferred income taxes (b)	2,091		76		1,645		100		270		176		41		53
AMI programs	679		163		43		225		248		167		81		—
Under-recovered distribution service costs (c)	239		239		—		—		—		—		—		—
Energy efficiency costs	19		19		—		—		—		—		—		—
Debt costs	117		39		1		7		77		16		8		6
Fair value of long-term debt	782		—		—		—		645		—		—		—
Fair value of PHI's unamortized energy contracts	918		—		—		—		918		—		—		—
Severance	3		—		—		3		—		—		—		—
Asset retirement obligations	119		84		23		12		—		—		—		—
MGP remediation costs	289		266		23		—		—		—		—		—
Under-recovered uncollectible accounts	55		55		—		—		—		—		—		—
Renewable energy	258		256		—		—		2		—		1		1
Energy and transmission programs (d)(e)(f)(g)(h)(i)	69		8		1		21		39		6		6		27
Deferred storm costs	34		—		—		—		34		10		6		18
Electric generation-related regulatory asset	5		—		—		5		—		—		—		—
Energy efficiency and demand response programs	590		—		1		271		318		236		82		—
Merger integration costs (j)(k)	32		—		—		7		25		12		13		—
Under-recovered revenue decoupling (l)	74		—		—		35		39		31		8		—
COPCO acquisition adjustment	6		—		—		—		6		—		6		—
Workers compensation and long-term disability cost	34		—		—		—		34		34		—		—
Vacation accrual	47		—		22		—		25		—		15		10
Securitized stranded costs	108		—		—		—		108		—		—		108
CAP arrearage	10		—		10		—		—		—		—		—
Removal costs	500		—		—		—		500		138		95		268
Renewable portfolio standards costs	19		19		—		—		—		—		—		—
Other	55		8		9		6		32		21		8		4
Total regulatory assets	11,238		1,232		1,778		692		3,320		847		370		495
Less: current portion	1,293		182		46		197		605		165		71		89
Total non-current regulatory assets	$	9,945	$	1,050	$	1,732	$	495	$	2,715	$	682	$	299	$	406

									Successor
June 30, 2017	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Other postretirement benefits	$	43	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Nuclear decommissioning	2,870		2,364		506		—		—		—		—		—
Removal costs	1,592		1,332		—		129		131		18		113		—
Deferred rent	38		—		—		—		38		—		—		—
Energy efficiency and demand response programs	128		88		39		—		1		1		—		—
DLC program costs	8		—		8		—		—		—		—		—
Electric distribution tax repairs	59		—		59		—		—		—		—		—
Gas distribution tax repairs	16		—		16		—		—		—		—		—
Energy and transmission programs (d)(e)(f)(g)(h)(i)	123		40		61		—		22		2		12		8
Rate stabilization deferral	3		—		—		3		—		—		—		—
Zero emission credit costs	22		22		—		—		—		—		—		—
Other	70		8		10		25		27		1		13		12
Total regulatory liabilities	4,972		3,854		699		157		219		22		138		20
Less: current portion	574		269		155		67		68		5		43		20
Total non-current regulatory liabilities	$	4,398	$	3,585	$	544	$	90	$	151	$	17	$	95	$	—

									Successor
December 31, 2016	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and other postretirement benefits (a)	$	4,162	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Deferred income taxes (b)	2,016		75		1,583		98		260		171		38		51
AMI programs	701		164		49		230		258		174		84		—
Under-recovered distribution service costs (c)	188		188		—		—		—		—		—		—
Debt costs	124		42		1		7		81		17		9		6
Fair value of long-term debt	812		—		—		—		671		—		—		—
Fair value of PHI's unamortized energy contracts	1,085		—		—		—		1,085		—		—		—
Severance	5		—		—		5		—		—		—		—
Asset retirement obligations	111		76		23		12		—		—		—		—
MGP remediation costs	305		278		26		1		—		—		—		—
Under-recovered uncollectible accounts	56		56		—		—		—		—		—		—
Renewable energy	260		258		—		—		2		—		—		2
Energy and transmission programs (d)(e)(f)(g)(h)(i)	89		23		—		38		28		6		5		17
Deferred storm costs	36		—		—		1		35		12		5		18
Electric generation-related regulatory asset	10		—		—		10		—		—		—		—
Rate stabilization deferral	7		—		—		7		—		—		—		—
Energy efficiency and demand response programs	621		—		1		285		335		250		85		—
Merger integration costs (j)(k)	25		—		—		10		15		11		4		—
Under-recovered revenue decoupling (l)	27		—		—		3		24		21		3		—
COPCO acquisition adjustment	8		—		—		—		8		—		8		—
Workers compensation and long-term disability costs	34		—		—		—		34		34		—		—
Vacation accrual	31		—		7		—		24		—		14		10
Securitized stranded costs	138		—		—		—		138		—		—		138
CAP arrearage	11		—		11		—		—		—		—		—
Removal costs	477		—		—		—		477		134		88		255
Other	49		7		9		5		29		22		5		4
Total regulatory assets	11,388		1,167		1,710		712		3,504		852		348		501
Less: current portion	1,342		190		29		208		653		162		59		96
Total non-current regulatory assets	$	10,046	$	977	$	1,681	$	504	$	2,851	$	690	$	289	$	405

									Successor
December 31, 2016	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Other postretirement benefits	$	47	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Nuclear decommissioning	2,607		2,169		438		—		—		—		—		—
Removal costs	1,601		1,324		—		141		136		18		118		—
Deferred rent	39		—		—		—		39		—		—		—
Energy efficiency and demand response programs	185		141		41		—		3		3		—		—
DLC program costs	8		—		8		—		—		—		—		—
Electric distribution tax repairs	76		—		76		—		—		—		—		—
Gas distribution tax repairs	20		—		20		—		—		—		—		—
Energy and transmission programs (d)(e)(f)(g)(h)(i)	134		60		56		—		18		8		5		5
Other	72		4		5		19		41		2		17		20
Total regulatory liabilities	4,789		3,698		644		160		237		31		140		25
Less: current portion	602		329		127		50		79		11		43		25
Total non-current regulatory liabilities	$	4,187	$	3,369	$	517	$	110	$	158	$	20	$	97	$	—

______

(a) As of June 30, 2017 and December 31, 2016, the pension and other postretirement benefits regulatory asset at Exelon includes regulatory assets of $1,025 million and $995 million, respectively, as a result of the PHI Merger related to unrecognized costs that are probable of regulatory recovery. The regulatory assets are amortized over periods from 3 to 15 years, depending on the underlying component. Pepco, DPL and ACE are currently recovering these costs through base rates. Pepco, DPL and ACE are not earning a return on the recovery of these costs in base rates.

(b) As of June 30, 2017, includes transmission-related regulatory assets that require FERC approval separate from the transmission formula rate of $22 million, $41 million, $33 million, $22 million and $20 million for ComEd, BGE, Pepco, DPL and ACE, respectively. As of December 31, 2016, includes transmission-related regulatory assets that require FERC approval separate from the transmission formula rate of $22 million, $38 million, $31 million, $20 million and $19 million for ComEd, BGE, Pepco, DPL and ACE, respectively. On December 13, 2016, BGE filed with FERC to begin recovering these existing and any similar future regulatory assets through its transmission formula rate. On May 9, 2017, FERC accepted BGE’s filing and made effective BGE’s proposed modifications to its transmission formula rate, subject to refund and further Commission order. ComEd, Pepco, DPL, and ACE are expected to make similar filings with FERC and other parties in subsequent periods.

(c) As of June 30, 2017, ComEd’s regulatory asset of $239 million was comprised of $184 million for the 2015 - 2017 annual reconciliations and $55 million related to significant one-time events including $14 million of deferred storm costs, $9 million of Constellation and PHI merger and integration related costs, $3 million of emerald ash borer costs, and $29 million of smart meter related costs.  As of December 31, 2016, ComEd’s regulatory asset of $188 million was comprised of $134 million for the 2015 and 2016 annual reconciliations and $54 million related to significant one-time events, including $20 million of deferred storm costs and $11 million of Constellation and PHI merger and integration related costs, and $23 million of smart meter related costs. See Note 4— Merger, Acquisitions, and Dispositions of the Exelon 2016 Form 10-K for further information.

(d) As of June 30, 2017, ComEd’s regulatory asset of $8 million reflects Constellation merger and integration costs to be recovered upon FERC approval.  As of June 30, 2017, ComEd’s regulatory liability of $40 million included $8 million related to over-recovered energy costs and $32 million associated with revenues received for renewable energy requirements. As of December 31, 2016, ComEd’s regulatory asset of $23 million included $15 million associated with transmission costs recoverable through its FERC approved formula rate and $8 million of Constellation merger and integration costs to be recovered upon FERC approval. As of December 31, 2016, ComEd’s regulatory liability of $60 million included $30 million related to over-recovered energy costs and $30 million associated with revenues received for renewable energy requirements.

(e) As of June 30, 2017, PECO's regulatory asset of $1 million related to under-recovered electric transmission costs. As of June 30, 2017, PECO's regulatory liability of $61 million included $36 million related to over-recovered costs under the DSP program, $16 million related to the over-recovered natural gas costs under the PGC and $9 million related to over-recovered non-bypassable transmission service charges. As of December 31, 2016, PECO's regulatory liability of $56 million included $34 million related to over-recovered costs under the DSP program, $10 million related to over-recovered non-bypassable transmission service charges, $8 million related to the over-recovered natural gas costs under the PGC and $4 million related to the over-recovered electric transmission costs.

(f) As of June 30, 2017, BGE's regulatory asset of $21 million included $10 million related to under-recovered electric energy costs, $5 million related to under-recovered natural gas costs, $4 million of costs associated with transmission costs recoverable through its FERC approved formula rate and $2 million of abandonment costs to be recovered upon FERC approval. As of December 31, 2016, BGE’s regulatory asset of $38 million included $4 million of costs associated with transmission costs recoverable through its FERC approved formula rate, $28 million related to under-recovered electric energy costs, $3 million of abandonment costs to be recovered upon FERC approval, and $3 million of under-recovered natural gas costs.

(g) As of June 30, 2017, Pepco's regulatory asset of $6 million included $2 million of transmission costs recoverable through its FERC approved formula rate and $4 million of under-recovered electric energy costs. As of June 30, 2017, Pepco's regulatory liability of $2 million related to over-recovered electric energy costs. As of December 31, 2016, Pepco's regulatory asset of $6 million related to under-recovered electric energy costs. As of December 31, 2016, Pepco's regulatory liability of $8 million included $5 million of over-recovered transmission costs and $3 million of over-recovered electric energy costs.

(h) As of June 30, 2017, DPL's regulatory asset of $6 million related to under-recovered electric energy costs. As of June 30, 2017, DPL's regulatory liability of $12 million included $10 million of over-recovered electric energy costs and $2 million of over-recovered gas cost. As of December 31, 2016, DPL's regulatory asset of $5 million included $1 million of transmission costs recoverable through its FERC approved formula rate and $4 million of under-recovered electric energy costs. As of December 31, 2016, DPL's regulatory liability of $5 million included $2 million of over-recovered electric energy costs and $3 million of over-recovered transmission costs.

(i) As of June 30, 2017, ACE's regulatory asset of $27 million included $11 million of transmission costs recoverable through its FERC approved formula rate and $16 million of under-recovered electric energy costs. As of June 30, 2017, ACE's regulatory liability of $8 million related to over-recovered electric energy costs. As of December 31, 2016, ACE's regulatory asset of $17 million included $6 million of transmission costs recoverable through its FERC approved formula rate and $11 million of under-recovered electric energy costs. As of December 31, 2016, ACE's regulatory liability of $5 million included $4 million of over-recovered transmission costs and $1 million of over-recovered electric energy costs.

(j) As of June 30, 2017 and December 31, 2016, BGE's regulatory asset of $7 million and $10 million, respectively, included $6 million of previously incurred PHI acquisition costs as authorized by the June 2016 rate case order.

(k) As of June 30, 2017 and December 31, 2016, Pepco’s regulatory asset of $12 million and $11 million, respectively, represents previously incurred PHI acquisition costs authorized for recovery by the November 2016 Maryland distribution rate case order.  As of June 30, 2017, DPL’s regulatory asset of $13 million represents previously incurred PHI acquisition costs, including $4 million authorized for recovery by the February 2017 Maryland distribution rate case order, $6 million authorized for recovery by the May 2017 Delaware electric distribution rate case order, and $3 million expected to be recovered in electric and gas distribution rates in the Delaware service territory. As of December 31, 2016, DPL's regulatory asset of $4 million represents previously incurred PHI acquisition costs expected to be recovered in distribution rates in the Maryland service territory.

(l) Represents the electric and natural gas distribution costs recoverable from customers under BGE’s decoupling mechanism. As of June 30, 2017, BGE had a regulatory asset of $24 million related to under-recovered electric revenue decoupling and $11 million related to under-recovered natural gas revenue decoupling. As of December 31, 2016, BGE had a regulatory asset of $2 million related to under-recovered natural gas revenue decoupling and $1 million related to under-recovered electric revenue decoupling.

Schedule of Regulatory Liabilities

The following tables provide information about the regulatory assets and liabilities of Exelon, ComEd, PECO, BGE, PHI, Pepco, DPL and ACE as of June 30, 2017 and December 31, 2016. For additional information on the specific regulatory assets and liabilities, refer to Note 3 — Regulatory Matters of the Exelon 2016 Form 10-K.

									Successor
June 30, 2017	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and other postretirement benefits (a)	$	4,086	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Deferred income taxes (b)	2,091		76		1,645		100		270		176		41		53
AMI programs	679		163		43		225		248		167		81		—
Under-recovered distribution service costs (c)	239		239		—		—		—		—		—		—
Energy efficiency costs	19		19		—		—		—		—		—		—
Debt costs	117		39		1		7		77		16		8		6
Fair value of long-term debt	782		—		—		—		645		—		—		—
Fair value of PHI's unamortized energy contracts	918		—		—		—		918		—		—		—
Severance	3		—		—		3		—		—		—		—
Asset retirement obligations	119		84		23		12		—		—		—		—
MGP remediation costs	289		266		23		—		—		—		—		—
Under-recovered uncollectible accounts	55		55		—		—		—		—		—		—
Renewable energy	258		256		—		—		2		—		1		1
Energy and transmission programs (d)(e)(f)(g)(h)(i)	69		8		1		21		39		6		6		27
Deferred storm costs	34		—		—		—		34		10		6		18
Electric generation-related regulatory asset	5		—		—		5		—		—		—		—
Energy efficiency and demand response programs	590		—		1		271		318		236		82		—
Merger integration costs (j)(k)	32		—		—		7		25		12		13		—
Under-recovered revenue decoupling (l)	74		—		—		35		39		31		8		—
COPCO acquisition adjustment	6		—		—		—		6		—		6		—
Workers compensation and long-term disability cost	34		—		—		—		34		34		—		—
Vacation accrual	47		—		22		—		25		—		15		10
Securitized stranded costs	108		—		—		—		108		—		—		108
CAP arrearage	10		—		10		—		—		—		—		—
Removal costs	500		—		—		—		500		138		95		268
Renewable portfolio standards costs	19		19		—		—		—		—		—		—
Other	55		8		9		6		32		21		8		4
Total regulatory assets	11,238		1,232		1,778		692		3,320		847		370		495
Less: current portion	1,293		182		46		197		605		165		71		89
Total non-current regulatory assets	$	9,945	$	1,050	$	1,732	$	495	$	2,715	$	682	$	299	$	406

									Successor
June 30, 2017	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Other postretirement benefits	$	43	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Nuclear decommissioning	2,870		2,364		506		—		—		—		—		—
Removal costs	1,592		1,332		—		129		131		18		113		—
Deferred rent	38		—		—		—		38		—		—		—
Energy efficiency and demand response programs	128		88		39		—		1		1		—		—
DLC program costs	8		—		8		—		—		—		—		—
Electric distribution tax repairs	59		—		59		—		—		—		—		—
Gas distribution tax repairs	16		—		16		—		—		—		—		—
Energy and transmission programs (d)(e)(f)(g)(h)(i)	123		40		61		—		22		2		12		8
Rate stabilization deferral	3		—		—		3		—		—		—		—
Zero emission credit costs	22		22		—		—		—		—		—		—
Other	70		8		10		25		27		1		13		12
Total regulatory liabilities	4,972		3,854		699		157		219		22		138		20
Less: current portion	574		269		155		67		68		5		43		20
Total non-current regulatory liabilities	$	4,398	$	3,585	$	544	$	90	$	151	$	17	$	95	$	—

									Successor
December 31, 2016	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and other postretirement benefits (a)	$	4,162	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Deferred income taxes (b)	2,016		75		1,583		98		260		171		38		51
AMI programs	701		164		49		230		258		174		84		—
Under-recovered distribution service costs (c)	188		188		—		—		—		—		—		—
Debt costs	124		42		1		7		81		17		9		6
Fair value of long-term debt	812		—		—		—		671		—		—		—
Fair value of PHI's unamortized energy contracts	1,085		—		—		—		1,085		—		—		—
Severance	5		—		—		5		—		—		—		—
Asset retirement obligations	111		76		23		12		—		—		—		—
MGP remediation costs	305		278		26		1		—		—		—		—
Under-recovered uncollectible accounts	56		56		—		—		—		—		—		—
Renewable energy	260		258		—		—		2		—		—		2
Energy and transmission programs (d)(e)(f)(g)(h)(i)	89		23		—		38		28		6		5		17
Deferred storm costs	36		—		—		1		35		12		5		18
Electric generation-related regulatory asset	10		—		—		10		—		—		—		—
Rate stabilization deferral	7		—		—		7		—		—		—		—
Energy efficiency and demand response programs	621		—		1		285		335		250		85		—
Merger integration costs (j)(k)	25		—		—		10		15		11		4		—
Under-recovered revenue decoupling (l)	27		—		—		3		24		21		3		—
COPCO acquisition adjustment	8		—		—		—		8		—		8		—
Workers compensation and long-term disability costs	34		—		—		—		34		34		—		—
Vacation accrual	31		—		7		—		24		—		14		10
Securitized stranded costs	138		—		—		—		138		—		—		138
CAP arrearage	11		—		11		—		—		—		—		—
Removal costs	477		—		—		—		477		134		88		255
Other	49		7		9		5		29		22		5		4
Total regulatory assets	11,388		1,167		1,710		712		3,504		852		348		501
Less: current portion	1,342		190		29		208		653		162		59		96
Total non-current regulatory assets	$	10,046	$	977	$	1,681	$	504	$	2,851	$	690	$	289	$	405

									Successor
December 31, 2016	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Other postretirement benefits	$	47	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Nuclear decommissioning	2,607		2,169		438		—		—		—		—		—
Removal costs	1,601		1,324		—		141		136		18		118		—
Deferred rent	39		—		—		—		39		—		—		—
Energy efficiency and demand response programs	185		141		41		—		3		3		—		—
DLC program costs	8		—		8		—		—		—		—		—
Electric distribution tax repairs	76		—		76		—		—		—		—		—
Gas distribution tax repairs	20		—		20		—		—		—		—		—
Energy and transmission programs (d)(e)(f)(g)(h)(i)	134		60		56		—		18		8		5		5
Other	72		4		5		19		41		2		17		20
Total regulatory liabilities	4,789		3,698		644		160		237		31		140		25
Less: current portion	602		329		127		50		79		11		43		25
Total non-current regulatory liabilities	$	4,187	$	3,369	$	517	$	110	$	158	$	20	$	97	$	—

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(a) As of June 30, 2017 and December 31, 2016, the pension and other postretirement benefits regulatory asset at Exelon includes regulatory assets of $1,025 million and $995 million, respectively, as a result of the PHI Merger related to unrecognized costs that are probable of regulatory recovery. The regulatory assets are amortized over periods from 3 to 15 years, depending on the underlying component. Pepco, DPL and ACE are currently recovering these costs through base rates. Pepco, DPL and ACE are not earning a return on the recovery of these costs in base rates.

(b) As of June 30, 2017, includes transmission-related regulatory assets that require FERC approval separate from the transmission formula rate of $22 million, $41 million, $33 million, $22 million and $20 million for ComEd, BGE, Pepco, DPL and ACE, respectively. As of December 31, 2016, includes transmission-related regulatory assets that require FERC approval separate from the transmission formula rate of $22 million, $38 million, $31 million, $20 million and $19 million for ComEd, BGE, Pepco, DPL and ACE, respectively. On December 13, 2016, BGE filed with FERC to begin recovering these existing and any similar future regulatory assets through its transmission formula rate. On May 9, 2017, FERC accepted BGE’s filing and made effective BGE’s proposed modifications to its transmission formula rate, subject to refund and further Commission order. ComEd, Pepco, DPL, and ACE are expected to make similar filings with FERC and other parties in subsequent periods.

(c) As of June 30, 2017, ComEd’s regulatory asset of $239 million was comprised of $184 million for the 2015 - 2017 annual reconciliations and $55 million related to significant one-time events including $14 million of deferred storm costs, $9 million of Constellation and PHI merger and integration related costs, $3 million of emerald ash borer costs, and $29 million of smart meter related costs.  As of December 31, 2016, ComEd’s regulatory asset of $188 million was comprised of $134 million for the 2015 and 2016 annual reconciliations and $54 million related to significant one-time events, including $20 million of deferred storm costs and $11 million of Constellation and PHI merger and integration related costs, and $23 million of smart meter related costs. See Note 4— Merger, Acquisitions, and Dispositions of the Exelon 2016 Form 10-K for further information.

(d) As of June 30, 2017, ComEd’s regulatory asset of $8 million reflects Constellation merger and integration costs to be recovered upon FERC approval.  As of June 30, 2017, ComEd’s regulatory liability of $40 million included $8 million related to over-recovered energy costs and $32 million associated with revenues received for renewable energy requirements. As of December 31, 2016, ComEd’s regulatory asset of $23 million included $15 million associated with transmission costs recoverable through its FERC approved formula rate and $8 million of Constellation merger and integration costs to be recovered upon FERC approval. As of December 31, 2016, ComEd’s regulatory liability of $60 million included $30 million related to over-recovered energy costs and $30 million associated with revenues received for renewable energy requirements.

(e) As of June 30, 2017, PECO's regulatory asset of $1 million related to under-recovered electric transmission costs. As of June 30, 2017, PECO's regulatory liability of $61 million included $36 million related to over-recovered costs under the DSP program, $16 million related to the over-recovered natural gas costs under the PGC and $9 million related to over-recovered non-bypassable transmission service charges. As of December 31, 2016, PECO's regulatory liability of $56 million included $34 million related to over-recovered costs under the DSP program, $10 million related to over-recovered non-bypassable transmission service charges, $8 million related to the over-recovered natural gas costs under the PGC and $4 million related to the over-recovered electric transmission costs.

(f) As of June 30, 2017, BGE's regulatory asset of $21 million included $10 million related to under-recovered electric energy costs, $5 million related to under-recovered natural gas costs, $4 million of costs associated with transmission costs recoverable through its FERC approved formula rate and $2 million of abandonment costs to be recovered upon FERC approval. As of December 31, 2016, BGE’s regulatory asset of $38 million included $4 million of costs associated with transmission costs recoverable through its FERC approved formula rate, $28 million related to under-recovered electric energy costs, $3 million of abandonment costs to be recovered upon FERC approval, and $3 million of under-recovered natural gas costs.

(g) As of June 30, 2017, Pepco's regulatory asset of $6 million included $2 million of transmission costs recoverable through its FERC approved formula rate and $4 million of under-recovered electric energy costs. As of June 30, 2017, Pepco's regulatory liability of $2 million related to over-recovered electric energy costs. As of December 31, 2016, Pepco's regulatory asset of $6 million related to under-recovered electric energy costs. As of December 31, 2016, Pepco's regulatory liability of $8 million included $5 million of over-recovered transmission costs and $3 million of over-recovered electric energy costs.

(h) As of June 30, 2017, DPL's regulatory asset of $6 million related to under-recovered electric energy costs. As of June 30, 2017, DPL's regulatory liability of $12 million included $10 million of over-recovered electric energy costs and $2 million of over-recovered gas cost. As of December 31, 2016, DPL's regulatory asset of $5 million included $1 million of transmission costs recoverable through its FERC approved formula rate and $4 million of under-recovered electric energy costs. As of December 31, 2016, DPL's regulatory liability of $5 million included $2 million of over-recovered electric energy costs and $3 million of over-recovered transmission costs.

(i) As of June 30, 2017, ACE's regulatory asset of $27 million included $11 million of transmission costs recoverable through its FERC approved formula rate and $16 million of under-recovered electric energy costs. As of June 30, 2017, ACE's regulatory liability of $8 million related to over-recovered electric energy costs. As of December 31, 2016, ACE's regulatory asset of $17 million included $6 million of transmission costs recoverable through its FERC approved formula rate and $11 million of under-recovered electric energy costs. As of December 31, 2016, ACE's regulatory liability of $5 million included $4 million of over-recovered transmission costs and $1 million of over-recovered electric energy costs.

(j) As of June 30, 2017 and December 31, 2016, BGE's regulatory asset of $7 million and $10 million, respectively, included $6 million of previously incurred PHI acquisition costs as authorized by the June 2016 rate case order.

(k) As of June 30, 2017 and December 31, 2016, Pepco’s regulatory asset of $12 million and $11 million, respectively, represents previously incurred PHI acquisition costs authorized for recovery by the November 2016 Maryland distribution rate case order.  As of June 30, 2017, DPL’s regulatory asset of $13 million represents previously incurred PHI acquisition costs, including $4 million authorized for recovery by the February 2017 Maryland distribution rate case order, $6 million authorized for recovery by the May 2017 Delaware electric distribution rate case order, and $3 million expected to be recovered in electric and gas distribution rates in the Delaware service territory. As of December 31, 2016, DPL's regulatory asset of $4 million represents previously incurred PHI acquisition costs expected to be recovered in distribution rates in the Maryland service territory.

(l) Represents the electric and natural gas distribution costs recoverable from customers under BGE’s decoupling mechanism. As of June 30, 2017, BGE had a regulatory asset of $24 million related to under-recovered electric revenue decoupling and $11 million related to under-recovered natural gas revenue decoupling. As of December 31, 2016, BGE had a regulatory asset of $2 million related to under-recovered natural gas revenue decoupling and $1 million related to under-recovered electric revenue decoupling.

Purchase Of Receivables

													Successor
As of December 31, 2016	Exelon			ComEd			PECO			BGE			PHI			Pepco			DPL			ACE
Purchased receivables(b)	$	313		$	87		$	72		$	59		$	95		$	63		$	10		$	22
Allowance for uncollectible accounts(a)	(37		)	(14		)	(6		)	(4		)	(13		)	(7		)	(2		)	(4		)
Purchased receivables, net	$	276		$	73		$	66		$	55		$	82		$	56		$	8		$	18

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(a) For ComEd, BGE, Pepco and DPL, 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 tariff.

(b) Pepco's electric POR program in Maryland included a discount on purchased receivables ranging from 0% to 2% depending on customer class. Pepco's electric POR program in the District of Columbia included a discount on purchased receivables ranging from 0% to 6% through April 6, 2017 and 0% to 2% effective April 7, 2017, depending on customer class. DPL's electric POR program in Maryland included a discount on purchased receivables ranging from 0% to 1% through May 31, 2017 and 0% to 4% effective June 1, 2017, depending on customer class.