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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
February 18, 2002
(Date of earliest
event reported)
Exhibit 99.1 NYSE:EXC Exelon Corporation A Measure of Our Strengths Corbin A. McNeill, Jr. Chairman and Co-Chief Executive Officer EEI International Financial Conference, London February 18, 2002 [logo for Exelon]Forward-Looking Statements 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. Economic, business, competitive and/or regulatory factors affecting Exelon's businesses generally could cause actual results to differ materially from those described herein. For a discussion of the factors that could cause actual results to differ materially, please see Exelon's filings with the Securities and Exchange Commission, particularly those discussed in "Management's Discussion and Analysis of Financial Condition and Results of Operations -- Outlook" in Exelon's 2000 Annual Report. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Exelon 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] Exelon's Integrated Business Portfolio Portfolio includes mix of energy-related businesses. o 40,000+ MW supply portfolio balanced by fuel type, dispatch flexibility and geography o Retail base of about 5 million customers in 2 major metropolitan areas of the U.S. o Core competency of operational excellence across business units o Management skills to shape the evolution of regulatory and industry structures [logo for Exelon] Balanced Supply Portfolio Energy supply portfolio totals more than 40,000 MWs. Portfolio profiles (estimates): o Fuel mix: 36% nuclear, 20% coal, 4% hydro, and 40% gas/oil o Geographic mix: 60% in MAIN, 26% in PJM, and the balance in 6 different regions o Dispatch mix: 55% base load, 15% intermediate and 30% peaking o Ownership mix: 50% owned and 50% contracted Note: Data includes owned and contracted generation. [logo for Exelon] Diverse Retail Customer Base Serve approximately 5 million customers in 2 major metropolitan areas of the U.S. o ComEd customers - 3.5 million electric customers in an 11,300 square-mile service area including the City of Chicago o PECO customers - 1.5 million electric customers in a nearly 2,000 square-mile service area including the City of Philadelphia - 425,000 natural gas customers in a nearly 1,500 square-mile service area in southeastern Pennsylvania [logo for Exelon] Core Competency of Operational Excellence Operating expertise extends across all business units. o Delivery: Reasonable return and robust cash flow with improving key performance measures o Nuclear: Reduced all-in cost to 2.04 cents per kWh and achieved 94.4% capacity factor in 2001 o Fossil: Profitable and efficient with 97% on-time delivery and 94.4% dispatch availability in 2001 o Power Team: Effective hedging and active management of supply portfolio [logo for Exelon] Effective Management Skills Management shaping the evolution of regulatory and industry structures. o PECO transition: Recovery of stranded costs under a rate cap through 2010 o ComEd transition: Recovery of transition costs through 2006 with a rate freeze through 2004 o POLR initiative: Shaping the appropriate development of supply competition o FERC activities: Promoting practical RTO standards and broader market power test [logo for Exelon] 2001 Successes o Created powerful new company o Focused on operating excellence o Achieved merger synergies o Recorded 15% EPS growth o Demonstrated balance sheet strength [logo for Exelon] 2002 Opportunities o Continued focus on operating excellence o Federal and State regulatory initiatives o Optimize supply portfolio o Company-wide cost management initiative o Growth through disciplined investment [logo for Exelon] 2002 Expectations Our integrated businesses support: o A strong balance sheet o Robust cash flow o Risk management opportunities o Maximization of asset value o A low-cost generation position [logo for Exelon]