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

August 29, 2006
Date of Report (Date of earliest event reported)

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

 

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 29, 2006, Commonwealth Edison Company (ComEd) filed with the Illinois Commerce Commission (ICC) modifications to a proposal for easing the impact on residential customers of rate increases planned for January 2007. The proposal was originally filed with the ICC on May 23, 2006. A copy of ComEd’s press release announcing the modifications to the proposal is attached as Exhibit 99.1 to this Report on Form 8-K. The filing is available on the ICC’s website, http://eweb.icc.state.il.us/e-docket/. The Docket Number is 06-0411.

* * * * *

This combined Form 8-K is being filed separately by ComEd, Exelon Corporation (Exelon) and Exelon Generation Company LLC (Generation) (together, 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.

Forward-Looking Statements

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, which 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) Exelon’s 2005 Annual Report on Form 10-K—ITEM 1A Risk Factors, (b) Exelon’s 2005 Annual Report on Form 10-K—ITEM 8 Financial Statements and Supplementary Data: Exelon—Note 20, Generation—Note 17, and ComEd—Note 17, and (c) other factors discussed in filings with the SEC by ComEd, Exelon and Generation. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Report. Neither ComEd, Exelon nor Generation 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

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
				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
August 31, 2006

EXHIBIT INDEX

Exhibit No.		Description
99.1		ComEd Press Release

Contact:

Tabrina Davis ComEd Media Relations 312-394-3500

ComEd Submits Modified Rate Stabilization Proposal to ICC

Adjustments provide greater flexibility for customers; reflects the input of parties to the case

CHICAGO (August 29, 2006) — ComEd today offered modifications to its rate stabilization proposal now before the Illinois Commerce Commission (ICC). The proposal, first submitted by ComEd on May 23, is designed to ease the impact of 2007 residential rate increases by phasing in the increases over three years. The adjustments to the proposal respond to concerns expressed by stakeholders, such as the ICC staff and the Citizens Utility Board, in recently filed rebuttal testimony. The ICC, which must approve any plan, will rule on ComEd’s proposal in the next few months.

The modifications ComEd has proposed include an “opt-in” feature to give customers the choice about whether to participate in the program or not. Previously, ComEd proposed an “all in” program. As proposed, customers could enroll in the program by mailing a signed form to ComEd. Those enrolling prior to March 22, 2007, are assured of receiving program credits on the April 2007 bill. The sign-up window, as proposed, runs through August 22, 2007.

The amount of the proposed cap has been modified as well. Under the plan, customers choosing to participate would see average residential rate increases capped at 10 percent in 2007, 2008 and 2009. Costs that exceed the cap would be deferred and charged to customers over the following three years, 2010 to 2012. ComEd originally proposed a residential rate increase cap of 8 percent, 7 percent and 6 percent in 2007, 2008 and 2009, respectively but increased in response to other parties. The increased cap will lower the amount to be deferred, financed and collected later, a key concern of several parties to the case. ComEd has proposed a 6.5 percent annual carrying charge to finance the deferral plan.

“We have considered the positions of other parties to this process and have modified our plan in response to the input and concerns of other parties,” said Anne Pramaggiore, senior vice president, regulatory affairs, ComEd. “We believe this rate stabilization program is the best way to help residential customers transition to market rates. The added features are workable for ComEd and provide greater flexibility to our customers.”

Electricity rates are rising across the country, largely due to increases in energy sources used to power electric generating plants. Since 1997, Illinois residential rates have been reduced 20 percent and frozen through 2006. Starting in 2007, ComEd’s costs to buy wholesale electricity will increase after new electricity contracts are established through an ICC-approved competitive procurement process planned for September.

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ComEd
Page 2 of 2

Today, ComEd’s average residential rates are comparable to or lower than those of most major U.S. cities, including Boston, New York, Los Angeles, San Francisco, Philadelphia and Detroit. The average rate for the top 10 metropolitan areas is 38 percent higher than ComEd’s average residential rate, and the national average residential rate is 11 percent higher than ComEd’s.

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.