SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): April 4, 2001 Commission Registrant; State of Incorporation; IRS Employer File Number Address; and Telephone Number Identification No. 1-16169 EXELON CORPORATION 23-2990190 (a Pennsylvania corporation) 37th Floor, 10 South Dearborn Street Post Office Box A-3005 Chicago, Illinois 60690-3005 312/394-4321
Item 5. Other Events. Set forth below is the text of the slides used during Salomon Smith Barney's Global Power & Merchant Energy Conference which was held in New York City on April 3 and 4, 2001. Exelon Corporation was scheduled to present this material on Wednesday April 4, 2001. This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein. The forward-looking statements herein include statements about future financial and operating results of Exelon Corporation. The following factors, among others, could cause actual results to differ materially from those described herein: economic, business, competitive and/or regulatory factors affecting Exelon's businesses generally. More detailed information about those factors is set forth in the joint proxy statement/ prospectus regarding the merger and in the PECO Energy, Unicom Corporation and Exelon Corporation reports filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Exelon Corporation does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation.
EXHIBIT INDEX Exhibit Number Description of Exhibit 1. None 2. None 4. None 16. None 17. None 20. None 23. None 24. None 27. None 99. Exelon slide presentation at Salomon Smith Barney's Global Power and Merchant Energy Conference
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized. Exelon Corporation (Registrant) Date: April 4, 2001 By: /s/ Ruth Ann M. Gillis ------------------------ Ruth Ann M. Gillis Senior VP & CFO
NYSE: EXC The Generation and Marketing of Electricity at Exelon Jack Skolds Ken Cornew Chief Operating Officer VP, Long-term Transactions Exelon Nuclear Exelon PowerTeam Salomon Smith Barney Power & Merchant Energy April 2001 Exelon
NYSE: EXC Important Notice This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein. The forward-looking statements herein include statements about future financial and operating results of Exelon Corporation. The following factors, among others, could cause actual results to differ materially from those described herein: economic, business, competitive and/or regulatory factors affecting Exelon's businesses generally. More detailed information about those factors is set forth in the joint proxy statement/ prospectus regarding the merger and in the reports filed with the Securities and Exchange Commission by PECO Energy Company, Unicom Corporation and Exelon. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Exelon Corp. does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this presentation. [LOGO FOR EXELON]
NYSE: EXC Exelon's Integrated Strategy [This slide is a diagram which illustrates the integrated strategy. The three main business segments are shown as interlocking trapezoids arranged horizontally: 1) Energy Delivery; 2) Generation and Power Marketing; 3) Enterprises. Extending under all of the trapezoids is a thin rectangle.] [Legends in the trapezoids:] Energy Delivery - --------------- steady source of earnings 5 million customers deregulated markets Generation and Power Marketing - ------------------------------ primary growth vehicle in the near term 47 GWs unregulated power including 17 GWs nuclear Enterprises - ----------- platform for future growth in energy, telecommunications and energy-services arena [Legend in the rectangle:] Linking capabilities, assets and market presence to create continuous opportunities to build shareholder value [LOGO FOR EXELON]
NYSE: EXC Genco's Strategy . Develop national generation portfolio with fuel and dispatch diversity . Grow asset portfolio through: . mergers/acquisitions . development . innovative technology . joint ventures . long-term off-take contracts . Drive cost and operational leadership through proven fleet management and economies of scale . Optimize value of our low-cost position through power marketing expertise [LOGO FOR EXELON]
NYSE; EXC Exelon Nuclear's Vision -- to be the World's Premier Nuclear Operator. To achieve that vision, we will .... . increase fleet output . improve fleet efficiency . sustain fleet operational safety and excellence We are leveraging the scale and experience of the organization Exelon
NYSE: EXC Exelon and AmerGen Nuclear Fleet [This slide shows a portion of a map of the United States which includes the Midwestern, Middle Atlantic, and New England States. Highlighted on the map, in colored markers, are the locations of Exelon Nuclear (blue) and AmerGen (red) nuclear generating units. Noted on the map in the upper left-hand corner are these details: 16,700 MWe, 10 sites - 17 units, 3 states, Committed to growth. The Exelon logo appears at the bottom of the map.] [The Generating Units are located as follows] In Illinois Exelon Nuclear Braidwood Units 1 and 2 Byron Units 1 and 2 Dresden Units 2 and 3 LaSalle County Units 1 and 2 Quad Cities Units 1 and 2 AmerGen Clinton Station Unit 1 In Pennsylvania Exelon Nuclear Limerick Units 1 and 2 Peach Bottom Units 1 and 2 Salem Units 1 and 2 AmerGen TMI Unit 1 In New Jersey AmerGen Oyster Creek Unit 1
NYSE: EXC Increasing Nuclear Fleet Production Increase fleet capacity factor: - ------------------------------- - - Reduce average refueling duration from 30 to 20 days - - Reduce forced outage rate from 2.6% to 1.5% - aggressively manage all threats to generation - improve material condition - - Implement best-in-class operating practices fleet-wide [This slide contains a vertical bar chart showing projected average capacity factor for the fleet for the years 2001, 2002 and 2003. Indicated below each year are the number of refueling outages scheduled in that particular year.] Capacity Factor 2001 91.6 7 RFO's 2002 90.0 11 RFO's 2003 93.6 8 RFO's [LOGO FOR EXELON]
NYSE: EXC Refueling Performance Leadership We've demonstrated world-class refueling outage experience: . Fleet average refueling duration is 22 days - 8 of 9 shortest outages in U.S. in 2000 - Exelon Nuclear holds duration records for U.S. refuelings . Exelon fleet plants have out-paced industry performance . The economic value of reducing outage duration by one day is ~ $640,000/unit . Refueling outage execution is a competitive differentiator [This slide also contains a vertical bar chart showing, side by side, the average refueling outage duration in days during the years 1997, 1998, 1999, and 2000 for the U.S. Industry and Exelon.] Year U.S. Industry Exelon 1997 64 58 1998 51 53 1999 40 30 2000 39 22 [LOGO FOR EXELON]
NYSE: EXC More Capacity -- Increased Generation Exelon Nuclear is adding capacity: . Planned power uprates on ten units -- up to 885 MW . Other planned capacity additions via modifications, feedwater flow improvement, etc. . Purchase of additional 7% of Peach Bottom . Combination of improved capacity factors and added capability will increase net generation through 2003 by up to 9 million MWh. New capacity additions will be developed at cost well below that of new gas generation [LOGO FOR EXELON]
NYSE: EXC Exelon Nuclear's Competitive Cost Advantage The fleet has competitive operating costs: . Fleet aggregate cost is better than nuclear industry median . Production costs decreased 9.5% in 2000 . 4 Plants are currently in nuclear best quartile for production costs . Exelon fleet fuel cost per MWh is in the industry best quartile [This slide also contains a vertical bar chart showing the projected average production cost in dollars per megawatt-hour for the years 2000, 2001, 2002, and 2003. Also shown on the chart are reference lines for the 1999 Industry Median ($17.10) and the 1999 Top Quartile ($14.52).] Year $/MWh 2000 14.64 2001 14.16 2002 14.20 2003 13.46 [LOGO FOR EXELON]
NYSE: EXC Continued Cost Reduction Plans . Planned O&M cost reduction of 8-10% between 2000-2003 - Capture merger synergies - Bring economies of fleet scale to single unit sites - Planned staffing reductions to achieve standard "best in fleet" - Materials, equipment, services cost reductions through price, volume, consolidation synergies . Additional fuel cost reductions planned - Contract management, leverage - All aspects of fuel design and management . We will transfer knowledge of achieving low cost operations fleet-wide 2 cents per kilowatt-hour all-in cost target is competitive under any view of the future [LOGO FOR EXELON]
NYSE: EXC LICENSE EXTENSION License Renewals plans expiration Peach Bottom 2013, 2014 Application will be 2 and 3 submitted summer 2001 Dresden 2 and 3 2009, 2011 Application will be submitted 2003 Quad Cities 2012 Application will be 1 and 2 submitted 2003 Oyster Creek 2009 Under review TMI-1 2014 Under review We will continued to run our plants as long as they can be operated safely and profitably Exelon
NYSE; Exc Why the Nuclear Renaissance? Nuclear Power in the U.S. has established a strong track record . Long history of safe, improved operations . Significantly improved economics . Recognition of environmental advantages . Predictable, constructive nuclear regulatory environment . Fuel price stability Exelon
NYSE: EXC Nuclear Power Offers Fuel Price Stability [This slide contains two vertical bar charts, side by side] [The left chart is titled: Fuel Cost as a Percentage of Production Cost. It is a stacked vertical chart showing the relative percentage of fuel cost to production cost for four fuel types: Nuclear, Coal, Oil, and Gas. Fuel O&M Total Nuclear 27% 73% 100% Coal 70% 30% 100% Oil 76% 24% 100% Gas 80% 20% 100% [The right chart is titled: Historical Fuel Cost Volatiliy. It is a vertical bar chart showing three side by side bars representing the average fuel cost, in mils per kilowatt-hour, for nuclear, fossil, and gas turbines in each of the 5 years, 1995 through 1999] Nuclear Fossil Gas Turbines 1995 5.75 16.07 20.83 1996 5.50 16.51 30.58 1997 5.42 16.80 24.94 1998 5.39 15.94 23.02 1999 5.17 15.62 28.72 Nuclear power as a substantial portion of a balanced supply portfolio constitutes a competitive advantage [Logo for Exelon]
NYSE: EXC Generation Supply Footprint 2001 - 2003 [This slide depicts a map of North America which identifies each of the National Electricity Reliability Council regions and indicates the amount of Exelon generation in each region:] WSCC 200 MW MAPP 0 MW ERCOT 1,060 MW SPP 800 MW MAIN 21,875 MW Plus 1,000 MW from power uprates FRCC 0 MW SERC 1,000 MW ECAR 0 MW MACC 11,000 MW NPCC 5,900 MW Plus 3,600 MW under development [The slide also contains four boxes with additional information:] [First box:] 37,500 MW in operation 4,800 MW in construction 4,7000 MW in development 47,000 MW* TOTAL* [Second box:] plus 220 MW in construction and under development in Mexico [Third box:] plus 340 MW of CT peaking capacity currently under development [Fourth Box] * assumes completion of Sithe acquisition and power uprate projects by 2003 [LOGO FOR EXELON]
NYSE: EXC Power Marketing Strategy . Lead industry in asset-based, market driven power marketing ----------- ------------- . Drive generation asset growth through Power Team's unique market knowledge and analytical expertise . Market focused portfolio that allows for sale of innovative premium products . Pursue financial trading to complement a physical portfolio . Manage risk through optimal mix of long and short-term supply obligations [This slide also contains a stacked vertical bar chart showing the projected Gigawatt-hour Deliveries for the years 1999 through 2003 differentiated by 1) Pre-Merger Market Sales, 2) Sales to PECO, 3) Affiliate Sales, 4) Market Sales, 5) Sithe* GWh Deliveries Year Pre-Merger Sales to Affiliate Market Sithe* Market Sales PECO Sales Sales 1999 43,154 48,466 2000 23,491 24,393 2001 107,000 77,000 0 2002 103,500 92,100 0 2003 103,300 100,300 30,000 * assumes acquisition of 100% of Sithe assets [LOGO FOR EXELON]
NYSE: EXC Value-Creating Growth - - Sithe acquisition - 49.9% in 2000 - Expect to acquire in 3-5 years - - 500 MW of new peaking capacity - 160MW sited in LaPorte, TX in agreement with Air Products for summer 2001 - - Continuous Portfolio Growth Strategy for Target Regions - Asset Acquisitions - Long-Term Off-take Agreements - Joint-Ventures [This slide contains a stacked vertical bar chart showing the projected Gigawatt-hour Supply for the years 2001, 2002, and 2003 differentiated by 1) Owned Assets; 2) EME PPA, 3) Acquisitions/Growth and 4) Sithe*.] Year Owned Assets EME PPA Acq./Growth Sithe* Total 2001 123,000 31,000 30,100 0 184,100 2002 125,000 20,000 51,000 0 196,000 2003 129,400 9,000 65,200 30,000 233,600 * assumes acquisition of 100% of Sithe assets [LOGO FOR EXELON]
NYSE: EXC Combining Portfolios to Enhance Margins [This slide shows a diagram which illustrates how combining this portfolio will enhance margins. There are four ovals at each corner of the slide surrounding a center oval. Arrows point from each outer oval to the center. The center oval is inscribed "Premium Product Sales"; the outer ovals are inscribed: upper left- "ComEd Generation"; upper right- "PECO Generation"; lower left- "AmerGen Generation"; and lower right- "Contracted Supply". ComEd Generation is associated with "Midwest Base Load in winter, Spring, and Fall". PECO Generation is associated with "Mid-Atlantic Intermediate and Peaking Year- round". AmerGen Generation is associated with "Base load Year-round". Contracted Supply is associated with "Regionally Diverse Intermediate and Peaking". Between the ComEd Generation and the PECO Generation ovals is the phrase: "Decreased costs from combining supply resources". Between the AmerGen Generation and the Contracted Supply ovals is the phrase: "Increased revenue from enhanced product offerings".] [LOGO FOR EXELON]
NYSE: EXC Our Competitive Advantages . A reliable, diverse and low cost supply portfolio . Firm transmission positions . A large native load hedge . Skill set strengths in physical delivery, fossil fuel management, generation development, risk/credit management . Active and experienced in creation of, and participation in open markets Exelon
NYSE: EXC Power Team: Looking Ahead [This slide shows a graphic of three rectangular boxes arranged horizontally. The boxes are titled from left to right: 1) Power Team Competitive Advantage, 2) Primary Value, and 3) Secondary Value. There are arrows depicted between the boxes indicating that the advantages described in the first box lead to the primary values in the second box, and that the primary values lead to the secondary values in the third box. There is text in each box as follows:] Power Team Competitive Advantage - -------------------------------- Deep understanding of the physical electricity market, infrastructure and -------- regulatory underpinnings Primary Value - ------------- Differentiation by product delivery Preferred counter-party status due to reputation for 100% reliability Secondary Value - --------------- Ability to leverage knowledge of physical market in hedging and trading of financial instruments [Logo for Exelon]
NYSE: EXC Power Team Our goal is simple: To be the World's Best Power Marketer. [This slide shows a equilateral triangle inscribed with the words "Market Focused". Written at the top of the triangle is "Fuel Diversity"; at the lower left is "National Reach"; at the lower right is "Asset-based Portfolio". On each side of the triangle are words which indicate a link between the two points: between National Reach and Fuel Diversity is the word "Innovation"; between Fuel Diversity and Asset-based Portfolio is the word "Reliability"; and between Asset-based Portfolio and National Reach is the phrase "Competitive Costs".] [LOGO FOR EXELON]
NYSE: EXC GenCo Financial Projections 2001 ------ Revenue $6.4 B Gross Margin $2.9 B O&M / A&G $1.4 B EBIT $980 M CapEx $950 M - ------------------------------------------- 2001-2003 --------- Revenue growth 12% . Increasing Volume - 15% annual market sales growth ...despite: . Declining forward curves - 10% reduction over 2001-2003 timeframe - ------------------------------------------- [LOGO FOR EXELON]
NYSE: EXC Exelon's Investor Proposition . 47 GWs low-cost supply in power hungry markets* . Forecasted 2001 revenues of $15B, EPS of $4.50, and 10% earnings growth through 2003 . Appetite for growth tempered by unrelenting commitment to financial discipline . Proven ability to seize opportunity and execute . Demonstrated focus on cost optimization . Tremendous depth and strength of management team * assumes completion of Sithe acquisition and power uprate projects by 2003 Exelon
NYSE:EXC Questions? Exelon
"SUPPLEMENTAL INFORMATION" [The following pages of material were distributed as hard copies to meeting participants.]
Generation Supply FOOTPRINT Details of Exelon Generating Capacity in GW'S - -------------------------------------------------------------------------------- Nuclear - ------- Limerick 2.3 MAAC Peach Bottom 1.0 MAAC Salem 0.9 MAAC Three Mile Island 0.8 MAAC Oyster Creek 0.6 MAAC Clinton 0.9 MAIN Midwest (former Unicom) Fleet 9.7 MAIN Existing Nuclear 16.2 Power Uprates 1.0 Total Nuclear 17.2 Fossil - ------ PECO Fleet 5.5 MAAC Sithe 5.9 NPCC 0.1 MAAC 0.2 WSCC ---- ---- Fossil Total 11.6 Contracts - --------- Unicom PPA 10.9 MAIN Tenaska - Grimes 0.9 ERCOT Tenaska - Heard 1.0 SERC Cogentrix 0.8 SPP --------- ---- ---- Contracts Total 13.6 Under Construction or Development - --------------------------------- Peaking CT's 0.5 Sithe - Mexico 0.2 Sithe - NPCC 3.7 ------------ ---- Development Total 4.4 EXELON PORTFOLIO TOTAL 46.8 - --------------------------------------------------------------------------------
Exelon EXELON Nuclear Fleet - ----------------------------------------------------------------------------------------------------------------------------------- Braidwood Byron Dresden LaSalle - ----------------------------------------------------------------------------------------------------------------------------------- Current Owner(s) Exelon Exelon Exelon Exelon - ----------------------------------------------------------------------------------------------------------------------------------- Ownership Interest 100% 100% 100% 100% - ----------------------------------------------------------------------------------------------------------------------------------- Plant Size 2,308 MW (PWR) 2,300 MW (PWR) 1,586 MW (BWR) 2,280 MW (BWR) - ----------------------------------------------------------------------------------------------------------------------------------- MW Owned 2,308 MW 2,300 MW 1,586 MW 2,280 MW - ----------------------------------------------------------------------------------------------------------------------------------- Site Type Dual unit Dual unit Dual unit Dual unit - ----------------------------------------------------------------------------------------------------------------------------------- Power Pool MAIN MAIN MAIN MAIN - ----------------------------------------------------------------------------------------------------------------------------------- Plant Start Date 1988 Unit 1-1985 Unit 2-1987 Unit 2-1970 Unit 3-1971 Unit 1-1984 Unit 2-1984 License Expiration Unit 1-2026 Unit 2-2027 Unit 1-2024 Unit 2-2026 Unit 2-2009 Unit 3-2011 Unit 1-2022 Unit 2-2023 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- Quad Cities Limerick Peach Bottom Salem - ----------------------------------------------------------------------------------------------------------------------------------- Current Owner(s) Exelon / MidAmerican Exelon Exelon / PSE&G Exelon / PSE&G Energy Holdings - ----------------------------------------------------------------------------------------------------------------------------------- Ownership Interest 75% 100% 50% (3.75% still pending) 42.6% Non-Operator - ----------------------------------------------------------------------------------------------------------------------------------- Plant Size 1,562 MW (BWR) 2,284 MW (BWR) 2,185 MW (BWR) 2,212 MW (PWR) - ----------------------------------------------------------------------------------------------------------------------------------- MW Owned 1,172 MW 2,284 MW 1,093 MW 942 MW - ----------------------------------------------------------------------------------------------------------------------------------- Site Type Dual unit Dual unit Dual unit Dual Unit - ----------------------------------------------------------------------------------------------------------------------------------- Power Pool MAIN PJM PJM PJM - ----------------------------------------------------------------------------------------------------------------------------------- Plant Start Date 1973 Unit 1 -1986 Unit 2 -1990 1974 Unit 1 -1977 Unit 2 -1981 License Expiration 2012 Unit 1 -2024 Unit 2 -2029 Unit 2 -2013 Unit 3 -2014 Unit 1 -2016 Unit 2 -2020 - ----------------------------------------------------------------------------------------------------------------------------------- AmerGen Acquisitions - ----------------------------------------------------------------------------------------------------- TMI Unit 1 Clinton Oyster Creek - ----------------------------------------------------------------------------------------------------- Seller GPU Illinova GPU - ----------------------------------------------------------------------------------------------------- Plant Size 786 MW (PWR) 930 MW BWR 619 MW (BWR) - ----------------------------------------------------------------------------------------------------- Power Pool PJM MAIN PJM - East - ----------------------------------------------------------------------------------------------------- Ownership Interest 100% AmerGen 100% AmerGen 100% AmerGen - ----------------------------------------------------------------------------------------------------- Plant Start date 1974 1987 1969 License expiration April 2014 September 2026 April 2009 - -----------------------------------------------------------------------------------------------------
EXELON Fossil Fleet - ----------------------------------------------------------------------------------------------------------------------------------- Conowingo Muddy Run Cromby Eddystone - ----------------------------------------------------------------------------------------------------------------------------------- Ownership Interest 100% 100% 100% 100% - ----------------------------------------------------------------------------------------------------------------------------------- Number of Units 11 8 2 4 - ----------------------------------------------------------------------------------------------------------------------------------- Net Capacity (MW) 512 977 345 1,341 - ----------------------------------------------------------------------------------------------------------------------------------- Fuel Type Hydroelectric Pumped Storage Unit 1: scrubbed coal Units 1&2: scrubbed coal Unit 2: natural gas OR #6 oil Units 3&4: nat gas OR #6 oil - ----------------------------------------------------------------------------------------------------------------------------------- Power Pool PJM PJM PJM PJM - ----------------------------------------------------------------------------------------------------------------------------------- Dispatch Order Baseload (Run of River) Peaking Intermediate Intermediate - ----------------------------------------------------------------------------------------------------------------------------------- Plant Location Maryland Pennsylvania Pennsylvania Pennsylvania - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- Fairless Hills Schuykill Delaware Distributed Gen - ----------------------------------------------------------------------------------------------------------------------------------- Ownership Interest 100% 100% 100% 100% - ----------------------------------------------------------------------------------------------------------------------------------- Number of Units 2 1 2 42 - ----------------------------------------------------------------------------------------------------------------------------------- Net Capacity (MW) 60 166 250 1,049 - ----------------------------------------------------------------------------------------------------------------------------------- Fuel Type Landfill gas #6 oil #6 oil Oil, natural gas, diesel - ----------------------------------------------------------------------------------------------------------------------------------- Power Pool PJM PJM PJM PJM - ----------------------------------------------------------------------------------------------------------------------------------- Dispatch Order Peaking Peaking Peaking Intermediate, Peaking - ----------------------------------------------------------------------------------------------------------------------------------- Plant Location Pennsylvania Pennsylvania Pennsylvania Pennsylvania - ----------------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------- Conemaugh Keystone - --------------------------------------------------------------------------- Ownership Interest 20.72% 20.99% - --------------------------------------------------------------------------- Number of Units 2 2 - --------------------------------------------------------------------------- Net Capacity (MW) 352 357 - --------------------------------------------------------------------------- Fuel Type Mine-mouth Coal-fired Mine-mouth Coal-fired - --------------------------------------------------------------------------- Power Pool PJM PJM - --------------------------------------------------------------------------- Dispatch Order Baseload Baseload - --------------------------------------------------------------------------- Plant Location Western Pennsylvania Western Pennsylvania - ---------------------------------------------------------------------------
Exelon Sithe Assets by Region Net MW in Net MW in Net MW under Advanced Operating construction Development - --------------------------------------------------------------------- NEPOOL 2,051 2,421 540 NYPP 243 - 1,392 Ontario 157 - 1,670 Mexico - 114 114 Q.F.'s 1,331 - - - --------------------------------------------------------------------- TOTAL 3,782 2,535 3,716
Exelon Sithe Assets - ---------------------------------------------------------------------------------------------------------------------- Region Plant Name Net Capacity Fuel Type Dispatch Order Location - ---------------------------------------------------------------------------------------------------------------------- NEPool Mystic 1 12 Oil Peaking Everett, MA Operating: Mystic 4 135 Oil Intermediate Everett, MA Mystic 5 130 Oil Intermediate Everett, MA Mystic 6 138 Oil Intermediate Everett, MA Mystic 7 592 Oil Intermediate Everett, MA New Boston 1 380 Gas Intermediate South Boston, MA New Boston 2 380 Gas Intermediate South Boston, MA New Boston 3 20 Oil Peaking South Boston, MA Wyman 4 36 Oil Intermediate Yarmouth, Maine West Medway 1 55 Gas/Oil Peaking West Medway, MA West Medway 2 55 Gas/Oil Peaking West Medway, MA West Medway 3 55 Gas/Oil Peaking West Medway, MA Framingham 1 13 Oil Peaking Framingham, MA Framingham 2 11 Oil Peaking Framingham, MA Framingham 3 13 Oil Peaking Framingham, MA Fore River 1 13 Oil Peaking Weymouth, MA Fore River 2 13 Oil Peaking Weymouth, MA Sub Total 2,051 Development: Mystic 8 807 Gas Baseload Everett, MA Mystic 9 807 Gas Baseload Everett, MA Fore River 3 807 Gas Baseload Weymouth, MA SubTotal 2,421 Total NEPool 4,472 1 - --------------------------------------------------------------------------------
Exelon Sithe Assets (cont.) - ------------------------------------------------------------------------------------------------------------------------ Region Plant Name Net Capacity Fuel Type Dispatch Order Location - ------------------------------------------------------------------------------------------------------------------------ NYPP Operating: Massena 66 Gas Intermediate Massena, NY Ogdensburg 71 Gas Intermediate Ogdensburg, NY Batavia 50 Gas Intermediate Batavia, NY Sterling 56 Gas Intermediate Sherrill, NY Total NYPP 243 QFs Independence 1,024 Gas Baseload Oswego, NY Cardinal 157 Gas Baseload Cardinal, Ontario, Canada Kenilworth 26 Gas Baseload Kenilworth, NJ Allegheny 5 10 Hydro Intermediate Allegheny River, PA Allegheny 6 9 Hydro Intermediate Allegheny River, PA Allegheny 8 14 Hydro Intermediate Allegheny River, PA Allegheny 9 18 Hydro Intermediate Allegheny River, PA Greeley 48 Gas Baseload Greeley, Colorado Oxnard 48 Gas Baseload Oxnard, California Naval New 45 Oil Baseload San Diego, CA North Island 37 Oil Baseload San Diego, CA NTC MCRD 23 Oil Baseload San Diego, CA Bypass 10 Hydro Baseload Jerome County, Idaho Hazelton 9 Hydro Baseload Jerome County, Idaho Elk Creek 2 Hydro Baseload Boise, Idaho Rock Creek 4 Hydro Baseload El Dorado County, California Mont Creek 3 Hydro Baseload Shasta County, California Ivy River 1 Hydro Baseload Madison County, North Carolina Total QFs 1,488 International Cemex-Sithe 114 Pet Coke PPA Tamuin, Mexico International 114 Total 6,317 - ------------------------------------------------------------------------------------------------------------------------ 2
Exelon Projects in Advanced Development Project Capacity Likelihood of Occurrence ------- -------- ------------------------ West Medway 540 MW Peakers in final permitting and highly probable of occurrence TEG II, Mexico 230 MW Project with CEMEX of high probability Torne Valley, NY 800 MW Faces permitting difficulties in NY and local opposition Heritage, NY 800 MW Requires GE's development of "H" technology Ontario (2 sites) 1,600 MW Sites under option. Depends on successful implementation of de-regulation in Ontario 3