UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

July 28, 2006
Date of Report (Date of earliest event reported)

Commission File Number		Exact Name of Registrant as Specified in Its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone Number		IRS Employer Identification Number
1-1839		COMMONWEALTH EDISON COMPANY (an Illinois corporation) 440 South LaSalle Street Chicago, Illinois 60605-1028 (312) 394-4321		36-0938600
1-16169		EXELON CORPORATION (a Pennsylvania corporation) 10 South Dearborn Street — 37th Floor P.O. Box 805379 Chicago, Illinois 60680-5379 (312) 394-7398		23-2990190
333-85496		EXELON GENERATION COMPANY, LLC (a Pennsylvania limited liability company) 300 Exelon Way Kennett Square, Pennsylvania 19348 (610) 765-6900		23-3064219

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Section 8 — Other Events

Item 8.01. Other Events

On August 31, 2005, Commonwealth Edison Company (ComEd) filed a rate case with the Illinois Commerce Commission (ICC) to comprehensively review its tariff and to adjust ComEd’s rates for delivering electricity effective January 2, 2007 (Rate Case). In the Rate Case, ComEd sought a delivery service rate increase of over $300 million. On June 8, 2006, the Administrative Law Judges assigned to the Rate Case issued a Proposed Order recommending that the ICC grant over half of ComEd’s requested delivery service rate increase. On July 26, 2006, the ICC voted 5-0 for an Order in the Rate Case. The ICC issued its written Order, dated July 26, 2006, on July 28, 2006. ComEd issued a press release concerning the Order on July 28, 2006. A copy of ComEd’s press release is attached as Exhibit 99.1. The ICC Order is available on the ICC’s website, http://eweb.icc.state.il.us/e-docket/. The Docket Number is 05-0597.

* * * * *

This combined Form 8-K is being furnished separately by ComEd, Exelon, and Exelon Generation Company, LLC (Generation) (collectively, the Registrants). Information contained herein relating to any individual Registrant has been furnished by such registrant on its own behalf. No Registrant makes any representation as to information relating to any other Registrant.

Except for the historical information contained herein, certain of the matters discussed in this Report are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from the forward-looking statements made by a registrant include those factors discussed herein, as well as the items discussed in (a) the Registrants’ 2005 Annual Report on Form 10-K—ITEM 1A. Risk Factors, (b) the Registrants’ 2005 Annual Report on Form 10-K—ITEM 8. Financial Statements and Supplementary Data: Exelon—Note 20, ComEd—Note 17, and Generation—Note 17, and (c) other factors discussed in filings with the SEC by the Registrants. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Report. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Report.

Section 9—Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.		Description
99.1		ComEd Press Release dated July 28, 2006

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		COMMONWEALTH EDISON COMPANY
		/s/ Robert K. McDonald
		Robert K. McDonald
		Senior Vice President, Chief Financial Officer, Treasurer and Chief Risk Officer
		Commonwealth Edison Company
		EXELON CORPORATION
		EXELON GENERATION COMPANY, LLC
		/s/ John F. Young
		John F. Young
		Executive Vice President, Finance and Markets, and Chief Financial Officer
		Exelon Corporation
July 28, 2006

EXHIBIT INDEX

Exhibit No.		Description
99.1		ComEd Press Release dated July 28, 2006

Exhibit 99.1

Contact: Judy Rader		FOR IMMEDIATE RELEASE
ComEd Media Relations
312-394-3500

ComEd Deeply Disappointed in ICC Rate Case Ruling
ComEd to appeal decision

CHICAGO (July 28, 2006) — ComEd today expressed deep disappointment with the Illinois Commerce Commission (ICC) order adopted Wednesday in connection with ComEd’s electric delivery rate increase request. ComEd had requested ICC approval to increase the electric delivery portion of its rates by approximately $300 million — an increase of approximately 6 percent on average residential customer bills. In its order, the ICC approved an increase of only approximately $8.3 million.

“We are surprised and quite disappointed with this result,” stated J. Barry Mitchell, president of ComEd. “We believe that our delivery rate increase request was fully justified and necessary, especially since our rates have been frozen at 1995 levels for nearly a decade,” he continued. “We have no alternative but to ask the ICC to reconsider its decision.” Mitchell noted.

Also yesterday, rating agency Moody’s Investors Service downgraded ComEd’s unsecured debt to the lowest investment grade rating, citing the challenging political and regulatory environment in Illinois.

Since 1997, ComEd’s rates for residential customers have been reduced 20 percent and frozen at that level under the Electric Service Customer Choice and Rate Relief Law, established by the Illinois General Assembly. The rate cut and freeze, one of the largest and longest in the country, will result in $4 billion of savings for residential customers by the end of this year. However, during this time, ComEd’s cost to deliver electricity has gone up. ComEd has invested $3 billion since 2001 to expand and upgrade its transmission and delivery system.

The delivery service rate increase request is related only to the costs that ComEd incurs to deliver electricity to all 3.7 million residential, commercial and industrial customers. The delivery portion of customers’ bills represents approximately 30 to 40 percent of the total electric bill for residential customers. The largest portion of residential bills—electricity costs—will be determined in a competitive auction scheduled for this fall.

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Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), one of the nation’s largest electric utilities with approximately 5.2 million customers and more than $15 billion in annual revenues. ComEd provides service to approximately 3.7 million customers across Northern Illinois, or 70 percent of the state’s population.