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



                                December 20, 2000
                                (Date of earliest
                                 event reported)



                               EXELON CORPORATION
             (Exact name of registrant as specified in its charter)




         Pennsylvania               1-16169                23-2990190
       (State or other               (SEC                 (IRS Employer
       jurisdiction of            file number)            Identification
        incorporation)                                        Number)



                      37th Floor, 10 South Dearborn Street
                             Post Office Box A-3005
                          Chicago, Illinois 60690-3005
                    (Address of principal executive offices)

              Registrant's telephone number, including area code:
                                 (312) 394-4321




Item 5.  Other Events

Commonwealth  Edison  Company  (ComEd)  has  proposed  to  transfer  its nuclear
generating  stations to a new generating  company  (Exelon Genco) that will be a
subsidiary of ComEd's parent company, Exelon Corporation. In connection with the
proposed transfer of the nuclear generating  stations,  ComEd asked the Illinois
Commerce  Commission (ICC) to approve the continued  recovery of decommissioning
costs after the proposed transfer.

On December 20, 2000, the ICC issued an order finding that the ICC has the legal
authority  to permit  ComEd to  continue to recover  decommissioning  costs from
customers for the six-year term of the power purchase  agreements  between ComEd
and Exelon Genco.  Under the ICC order,  upon a transfer of the nuclear stations
to Exelon  Genco , ComEd will be  permitted to recover $73 million per year from
customers for decommissioning  for the years 2001-2004.  In 2005 and 2006, ComEd
can recover up to $73 million annually, depending upon the portion of the output
of the former ComEd  nuclear  stations that ComEd  purchases  from Exelon Genco.
Subsequent to 2006, there will be no further recoveries of decommissioning costs
from  customers.  The ICC order also  provides  that any surplus funds after the
nuclear stations are decommissioned must be refunded to customers.

The  amount of  recovery  in the ICC order is less than the $84  million  amount
ComEd currently recovers annually and is less than the $121 million per year for
six years  requested by ComEd.  ComEd is currently  evaluating the order and has
not determined whether it will appeal the order.









                                   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.




                                                     EXELON CORPORATION


                                                     /S/  Ruth Ann M. Gillis
                                                     ---------------------------
                                                     Principal Financial Officer



December 22, 2000