Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2018

Regulated Operations [Abstract]

Public Utilities General Disclosures [Table Text Block]

	Exelon		ComEd(a)		PECO		BGE(b)		PHI		Pepco(c)		DPL(c)		ACE
December 31, 2018	$	65	$	8	$	—	$	49	$	8	$	5	$	3	$	—
December 31, 2017	$	69	$	6	$	—	$	53	$	10	$	6	$	4	$	—

__________

(a) Reflects ComEd's unrecognized equity returns earned for ratemaking purposes on its electric distribution formula rate regulatory assets.

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

(c) Pepco's and DPL's authorized amounts capitalized for ratemaking purposes relate to earnings on shareholders' investment on their respective AMI Programs and Energy Efficiency and Demand Response Programs. The earnings on energy efficiency are on Pepco DC and DPL DE programs only.

Schedule of Regulatory Asset Impairments [Table Text Block]

	For the year ended December 31, 2017
Exelon	$	35
ComEd	3
BGE	5
PHI	27
Pepco	14
DPL	6
ACE	7

On December 18, 2017, BGE filed for clarification and rehearing of FERC’s order, still seeking full recovery of its existing transmission-related income tax regulatory asset amounts, including those amounts that would have been previously amortized and recovered through rates had the transmission formula rate provided for such recovery. On February 27, 2018 (and updated on March 26, 2018), BGE submitted a letter to FERC advising that the lower federal corporate income tax rate effective January 1, 2018 provided for in the TCJA will be reflected in BGE’s annual formula rate update effective June 1, 2018, but that the deferred income tax benefits will not be passed back to customers unless BGE’s formula rate is revised to provide for pass back and recovery of transmission-related income tax-related regulatory liabilities and assets.

On February 23, 2018 (as amended on July 9, 2018), ComEd, Pepco, DPL, and ACE each filed with FERC to revise their transmission formula rate mechanisms to facilitate passing back to customers ongoing annual TCJA tax savings and to permit recovery of transmission-related income tax regulatory assets, including those amounts that would have been previously amortized and recovered through rates had the transmission formula rate provided for such recovery.

On September 7, 2018, FERC issued orders rejecting BGE’s December 18, 2017 request for rehearing and clarification and ComEd's, Pepco's, DPL's and ACE's February 23, 2018 (as amended on July 9, 2018) filings, again citing the lack of timeliness of the requests to recover amounts that would have been previously amortized, but indicating that ongoing recovery of certain transmission-related income tax regulatory assets would provide for a more accurate revenue requirement. The orders did not address the remittance of TCJA transmission-related income tax regulatory liabilities, but rather referenced FERC’s separate Notice of Inquiry of such amounts issued on March 15, 2018.

On October 1, 2018, ComEd, BGE, Pepco, DPL, and ACE submitted new filings to recover ongoing non-TCJA amortization amounts and refund TCJA transmission-related income tax regulatory liabilities for the prospective period starting on October 1, 2018. FERC issued deficiency letters requesting additional information on November 21, 2018 and January 28, 2019. ComEd, BGE, Pepco, DPL, and ACE responded to the November 21, 2018 deficiency letter on November 29, 2018 but cannot predict the outcome of these FERC proceedings. If FERC ultimately rules that the future, ongoing non-TCJA amortization amounts are not recoverable, Exelon, ComEd, BGE, PHI, Pepco, DPL and ACE would record additional charges to Income tax expense, which could be up to approximately $76 million, $51 million, $15 million, $10 million, $3 million, $5 million and $2 million, respectively, as of December 31, 2018.

On October 9, 2018, ComEd, Pepco, DPL, and ACE sought rehearing of FERC's September 7, 2018 order, still seeking full recovery of their existing transmission-related income tax regulatory asset amounts, including those amounts that would have been previously amortized and recovered through rates had the transmission formula rate provided for such recovery. ComEd, Pepco, DPL, and ACE cannot predict the outcome of this rehearing request. On November 2, 2018, BGE filed an appeal of FERC’s September 7, 2018 order to the Court of Appeals for the D.C. Circuit.

PJM Transmission Rate Design (All Registrants). On June 15, 2016, several parties, including the Utility Registrants, filed a proposed settlement with FERC to resolve outstanding issues related to cost responsibility for charges to transmission customers for certain transmission facilities that operate at or above 500 kV. The settlement included provisions for monthly credits or charges related to the periods prior to January 1, 2016 that are expected to be refunded or recovered through PJM wholesale transmission rates through December 2025.

On May 31, 2018, FERC issued an order approving the settlement and directed PJM to adjust wholesale transmission rates within 30 days. Pursuant to the order, similar charges for the period January 1, 2016 through June 30, 2018 will also be refunded or recovered through PJM wholesale transmission rates over the subsequent 12-month period. PJM commenced billing the refunds and charges associated with this settlement in August 2018. The Utility Registrants expect to refund or recover these settlement amounts through prospective electric distribution customer rates. On July 2, 2018, several parties filed petitions for rehearing or clarification.

Pursuant to the FERC approval of the settlement and the expected refund or recovery of the associated amounts from electric distribution customers, in the second quarter of 2018 and as adjusted in the third quarter of 2018, the Utility Registrants recorded the following payables to/receivables from PJM and related regulatory assets/liabilities. Generation recorded a $41 million net payable to PJM and a pre-tax charge within Purchased power and fuel expense in Exelon's and Generation's Consolidated Statements of Operations and Comprehensive Income.

	PJM Receivable		PJM Payable		Regulatory Asset		Regulatory Liability
Exelon	$	220	$	176	$	136	$	221
Generation(a)	—		41		—		—
ComEd	122		—		—		122
PECO	85		—		—		85
BGE	—		51		51		—
PHI	13		84		85		14
Pepco	—		84		84		—
DPL	10		—		—		10
ACE	3		—		1		4

__________

(a)

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 December 31, 2018 and December 31, 2017:

December 31, 2018	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and other postretirement benefits	$	2,553	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Pension and other postretirement benefits - Merger related	1,266		—		—		—		—		—		—		—
Deferred income taxes	414		—		404		—		10		10		—		—
AMI programs - Deployment Costs	202		—		—		113		89		50		39		—
AMI programs - Legacy Meters	328		136		24		48		120		90		30		—
AMI programs - Post-test year costs	32		—		—		32		—		—		—		—
Electric distribution formula rate annual reconciliations	158		158		—		—		—		—		—		—
Electric distribution formula rate significant one-time events	81		81		—		—		—		—		—		—
Energy efficiency costs	472		472		—		—		—		—		—		—
Fair value of long-term debt	702		—		—		—		569		—		—		—
Fair value of PHI's unamortized energy contracts	561		—		—		—		561		—		—		—
Asset retirement obligations	118		79		22		16		1		1		—		—
MGP remediation costs	326		309		17		—		—		—		—		—
Renewable energy	249		249		—		—		—		—		—		—
Electric Energy and Natural Gas Costs	193		—		49		51		93		84		—		9
Transmission formula rate annual reconciliations	41		6		—		4		31		10		14		7
Energy efficiency and demand response programs	545		—		1		289		255		188		67		—
Merger integration costs	42		—		—		3		39		18		11		10
Under-recovered revenue decoupling	59		—		—		2		57		57		—		—
Securitized stranded costs	50		—		—		—		50		—		—		50
Removal costs	564		—		—		—		564		158		97		309
DC PLUG charge	159		—		—		—		159		159		—		—
Deferred storm costs	41		—		—		—		41		9		4		28
Other	303		110		24		17		162		79		28		13
Total regulatory assets	9,459		1,600		541		575		2,801		913		290		426
Less: current portion	1,222		293		81		177		489		270		59		40
Total noncurrent regulatory assets	$	8,237	$	1,307	$	460	$	398	$	2,312	$	643	$	231	$	386

December 31, 2017	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory assets
Pension and other postretirement benefits	$	2,455	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Pension and other postretirement benefits - Merger related	1,393		—		—		—		—		—		—		—
Deferred income taxes	306		—		297		—		9		9		—		—
AMI programs - Deployment costs	385		—		—		129		101		58		43		—
AMI programs - Legacy meters	223		155		36		53		134		100		34		—
AMI programs - Post-test year costs	32		—		—		32		—		—		—		—
Electric distribution formula rate annual reconciliations	186		186		—		—		—		—		—		—
Electric distribution formula rate significant one-time events	58		58		—		—		—		—		—		—
Energy efficiency costs	166		166		—		—		—		—		—		—
Fair value of long-term debt	758		—		—		—		619		—		—		—
Fair value of PHI's unamortized energy contracts	750		—		—		—		750		—		—		—
Asset retirement obligations	109		73		22		14		—		—		—		—
MGP remediation costs	295		273		22		—		—		—		—		—
Renewable energy	258		256		—		—		2		—		1		1
Electric energy and natural gas costs	47		—		1		16		30		8		7		15
Transmission formula rate annual reconciliations	35		6		—		7		22		3		8		11
Energy efficiency and demand response programs	596		—		1		285		310		229		81		—
Merger integration costs	45		—		—		6		39		20		10		9
Under-recovered revenue decoupling	55		—		—		14		41		38		3		—
Securitized stranded costs	79		—		—		—		79		—		—		79
Removal costs	529		—		—		—		529		150		93		286
DC PLUG charge	190		—		—		—		190		190		—		—
Deferred storm costs	27		—		—		—		27		7		5		15
Other	311		106		31		15		165		79		29		14
Total regulatory assets	9,288		1,279		410		571		3,047		891		314		430
Less: current portion	1,267		225		29		174		554		213		69		71
Total noncurrent regulatory assets	$	8,021	$	1,054	$	381	$	397	$	2,493	$	678	$	245	$	359

December 31, 2017	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Deferred income taxes	$	5,241	$	2,479	$	—	$	1,032	$	1,730	$	809	$	510	$	411
Nuclear decommissioning	3,064		2,528		536		—		—		—		—		—
Removal costs	1,573		1,338		—		105		130		20		110		—
Electric Energy and Natural Gas Costs	111		47		60		—		4		—		1		3
Other	399		185		94		26		64		3		14		8
Total regulatory liabilities	10,388		6,577		690		1,163		1,928		832		635		422
Less: current portion	523		249		141		62		56		3		42		11
Total noncurrent regulatory liabilities	$	9,865	$	6,328	$	549	$	1,101	$	1,872	$	829	$	593	$	411

Schedule of Regulatory Liabilities

December 31, 2017	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Deferred income taxes	$	5,241	$	2,479	$	—	$	1,032	$	1,730	$	809	$	510	$	411
Nuclear decommissioning	3,064		2,528		536		—		—		—		—		—
Removal costs	1,573		1,338		—		105		130		20		110		—
Electric Energy and Natural Gas Costs	111		47		60		—		4		—		1		3
Other	399		185		94		26		64		3		14		8
Total regulatory liabilities	10,388		6,577		690		1,163		1,928		832		635		422
Less: current portion	523		249		141		62		56		3		42		11
Total noncurrent regulatory liabilities	$	9,865	$	6,328	$	549	$	1,101	$	1,872	$	829	$	593	$	411

December 31, 2018	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Regulatory liabilities
Deferred income taxes	$	5,228	$	2,394	$	—	$	1,132	$	1,702	$	798	$	510	$	394
Nuclear decommissioning	2,606		2,217		389		—		—		—		—		—
Removal costs	1,547		1,368		—		52		127		20		107		—
Electric Energy and Natural Gas Costs	294		137		132		6		19		—		18		1
Other	528		227		75		79		100		11		30		25
Total regulatory liabilities	10,203		6,343		596		1,269		1,948		829		665		420
Less: current portion	644		293		175		77		84		7		59		18
Total noncurrent regulatory liabilities	$	9,559	$	6,050	$	421	$	1,192	$	1,864	$	822	$	606	$	402