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
June 20, 2002
(Date of earliest
event reported)
Commission File Name of Registrant; State of Incorporation; Address of IRS Employer
Number Principal Executive Offices; and Telephone Number Identification Number
- --------------------- --------------------------------------------------------- -------------------------
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
1-1839 COMMONWEALTH EDISON COMPANY 36-0938600
(an Illinois corporation)
10 South Dearborn Street - 37th Floor
P.O. Box 805379
Chicago, Illinois 60680-5379
(312) 394-4321
1-1401 PECO ENERGY COMPANY 23-0970240
(a Pennsylvania corporation)
P.O. Box 8699
2301 Market Street
Philadelphia, Pennsylvania 19101-8699
(215) 841-4000
333-85496 EXELON GENERATION COMPANY, LLC 23-3064219
(a Pennsylvania limited liability company)
300 Exelon Way
Kennett Square, Pennsylvania 19348
(610) 765-8200
Item 9. Regulation FD
On June 20, 2002 Exelon held its Investor Conference in New York City. During
the conference, management reviewed issues outlined in the presentations and
responded to questions received from the audience. The conference was webcast
and is archived on Exelon's website: www.exeloncorp.com. (Please select the
Investor Relations page.) The slides used in the presentations were previously
filed as Exhibit 99.1 to Exelon's Current Report on Form 8-K filed on June 20,
2002.
In addition to the slides and other supplementary information provided to
attendees, management also provided the following information during their
presentations:
Management indicated that it expects the provider of last resort proposal
discussed in the presentation is to be finalized in mid-July. Additionally, the
large commercial and industrial customer load expected to be affected by the
proposal is 4,500 megawatts (MWs) currently and 6,000 MWs in 2007, when the
proposal would be effective.
Additionally, management also indicated that no decisions have been made
regarding Exelon's 2003 coal capacity option under its contract with Edison
Mission Energy - Midwest Generation, which is discussed in Ian McLean's
presentation. For the purpose of modeling only, the assumption used in the
investor conference financial outlook was that Exelon would exercise one-half of
the 4000 MWs of optional coal capacity for 2003.
Management also disclosed that Exelon is working on an initiative to restructure
the option to purchase the remaining 50.1% of Sithe. It is expected that
economics reflected in the investor presentation would improve with the
restructured transaction. The presentation assumes the remaining 50.1% of
Sithe's outstanding common stock is purchased for $700 million and the
assumption of Sithe's $2.3 billion of debt.
This report 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
2001 Annual Report. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this report.
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 report.
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
COMMONWEALTH EDISON COMPANY
PECO ENERGY COMPANY
EXELON GENERATION COMPANY, LLC
/S/ Ruth Ann Gillis
-----------------------------------
Ruth Ann Gillis
Senior Vice President and Chief Financial Officer
Exelon Corporation
June 25, 2002
