UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM U5S
ANNUAL REPORT
For the Year Ended December 31, 2003
Filed pursuant to the Public Utility Holding Company Act of 1935 by
by
EXELON CORPORATION
10 South Dearborn Street
37th Floor
Chicago, Illinois 60603
PECO ENERGY POWER COMPANY
2301 Market Street
Philadelphia, Pennsylvania 19101
EXELON VENTURES COMPANY, LLC
10 South Dearborn Street
37th Floor
Chicago, Illinois 60603
EXELON GENERATION COMPANY, LLC
300 Exelon Way
Kennett Square, Pennsylvania 19348
EXELON ENERGY DELIVERY COMPANY, LLC
10 South Dearborn Street
37th Floor
Chicago, Illinois 60603
1
Table of Contents
ITEM NUMBER DESCRIPTION PAGE NUMBER
1 System Companies and Investments therein 4
as of December 31, 2003.
2 Acquisitions or Sales of Utility Assets 4
3 Issue, Sale, Pledge, Guarantee or Assumptions 4
of System Securities
4 Acquisition, Redemption, or Retirement of 4
System Securities
5 Investments in Securities of Nonsystem Companies 5
6 Officers and Directors 5
7 Contributions and Public Relations 74
8 Service, Sales and Construction Contracts 74
9 Wholesale Generators and Foreign Utility Companies 75
10 Financial Statements and Exhibits 79
2
Glossary of Defined Terms
AmerGen AmerGen Energy Company, L.L.C.
AOG # 2 LP Exelon AOG Holding # 1, Inc.
AOG # 2 GP Exelon AOG Holding # 2, Inc
ComEd Commonwealth Edison Company
Commission Securities and Exchange Commission
EBSC Exelon Business services Company
ExCapPtrs Exelon Capital Partners
Exelon Exelon Corporation
Exelon Delivery Exelon Energy Delivery Company, LLC
Enterprises Exelon Enterprises Company, LLC
ExInvInc Exelon Enterprises Investment, Inc.
Exelon Ventures Exelon Ventures Company, LLC
ExTel ExTel Corporation, LLC
ExTex ExTex LaPorte Limited Partnership
EWG Exempt Wholesale Generator
Financing U-1 The Form U-1 Application/Declaration filed by
Exelon Corporation in File No. 70-9693
Fossil Holding Exelon (Fossil) Holdings, Inc.
Genco Exelon Generation Company, LLC
GP General partner
LP Limited partner
Merger U-1 The Form U-1 Application/Declaration filed by
Exelon Corporation in File No. 70-9645
N/A Not applicable or not available
NEDI National Energy Development, Inc.
Peaker GP Exelon Peaker Development General, LLC
Peaker LP Exelon Peaker Development Limited, LLC
PECO PECO Energy Company
PEPCO PECO Energy Power Company
3
Power Holdings Exelon Power Holdings, LP
PETT PECO Energy Transition Trust
(a subsidiary of PECO)
Sithe Sithe Energies, Inc.
SECO Susquehanna Electric Company
Spruce GP Spruce Holdings, GP 2000, LLC
Spruce LP Spruce Holdings, LP 2000, LLC
Unicom Unicom Corporation
Ventures Exelon Ventures Company, LLC
4
ITEM 1. SYSTEM COMPANIES AND INVESTMENTS THEREIN as of December 31, 2003.
Issuer Book Value and Owner's Book Value for the System Companies and
Investments Therein is filed herewith confidentially pursuant to 17 CFR ss.
250.104 under the Public Utility Holding Company Act of 1935.
Exelon Corporation Subsidiaries and Investments
As of December 31, 2003
Common Parent Other PUHCA
Shares Voting Voting Type of Business
Tier Company name Owned Power Power And Authority
- -----------------------------------------------------------------------------------------------------------------------------------
Exelon Corporation Public Utility Holding
Company
1 Exelon Business Services Company 1 100.00% Subsidiary Service Company
1 Unicom Resources, Inc. 100 100.00% Inactive
1 Unicom Assurance Company, Ltd. * NA 100.00% Approved in Merger Order
(Captive Insurance Company)
1 Exelon Investment Holdings, LLC* NA 100.00% Intermediate Subsidiary
1 Exelon Capital Trust I * N/A 100.00% Financing company
1 Exelon Capital Trust II * N/A 100.00% Financing company
1 Exelon Capital Trust III * N/A 100.00% Financing company
1 Boston Financial Institutional Tax Credit Fund X NA 10.72% Approved in Merger Order
(tax advantaged transactions
- housing)
1 Boston Financial Institutional Tax Credit Fund XIV NA 43.69% Approved in Merger Order
(tax advantaged transactions
- housing)
1 Boston Financial Institutional Tax Credit Fund XIX NA 14.19% Approved in Merger Order
(tax advantaged transactions
- housing)
1 Boston Financial Institutional Tax Credit Fund XXI NA 34.54% Approved in Merger Order
(tax advantaged transactions
- housing)
1 Related Corporate Partners XII, L.P. NA 36.03% Approved in Merger Order
(tax advantaged transactions
- housing)
1 Related Corporate Partners XIV, L.P. NA 15.99% Approved in Merger Order
(tax advantaged transactions
- housing)
1 Summit Corporate Tax Credit Fund II NA 33.00% Approved in Merger Order
(tax advantaged transactions
- housing)
1 USA Institutional Tax Credit Fund XXII NA 24.49% Approved in Merger Order
(tax advantaged transactions
- housing)
1 Unicom Investment, Inc. 100 100.00% Approved in Merger Order
(Tax advantaged transactions)
2 Scherer Holdings 1, LLC NA 100.00% Approved in Merger Order
(Tax advantaged transactions)
2 Scherer Holdings 2, LLC NA 100.00% Approved in Merger Order
(Tax advantaged transactions)
2 Scherer Holdings 3, LLC NA 100.00% Approved in Merger Order
(Tax advantaged transactions)
2 Spruce Holdings G.P. 2000, LLC NA 100.00% Approved in Merger Order
(Tax advantaged transactions)
2 Spruce Holdings L.P. 2000, LLC NA 100.00% Approved in Merger Order
(Tax advantaged transactions)
3 Spruce Equity Holdings, L.P. NA 99.00% Spruce LP Approved in Merger Order
(Tax advantaged transactions)
NA 1.00% Spruce GP
4 Spruce Holdings Trust NA 100.00% Approved in Merger Order
(Tax advantaged transactions)
2 Wansley Holdings 1, LLC NA 100.00% Approved in Merger Order
(Tax advantaged transactions)
5
2 Wansley Holdings 2, LLC NA 100.00% Approved in Merger Order
(Tax advantaged transactions)
1 Exelon Ventures Company, LLC NA 100.00% Public Utility Holding
Company First Tier
2 Exelon SynFuel I, LLC NA 100.00% Intermediate Subsidiary
3 DTE Buckeye, LLC * 59.00% Tax advantaged transactions
2 Exelon SynFuel II, LLC NA 100.00% Intermediate Subsidiary
3 DTE Belews Creek, LLC * 99.00% Tax advantaged transactions
2 Exelon Generation Company, LLC NA 100.00% Public Utility Holding
Company Second Tier and
Utility Company
3 Exelon Generation Finance Company, LLC NA 100.00% Approved in Financing Order
(Financing)
3 ExTex Retail Services Company, LLC NA 100.00% Rule 58 - 5
3 Penesco Company, LLC NA 100.00% Rule 58
3 Port City Power, LLC * NA 100.00% Approved in Investment Order
(Development Company)
3 Southeast Chicago Energy Project, LLC NA 100.00% Exempt Wholesale Generator
3 Concomber Ltd NA 100.00% Approved in Merger Order
(Captive Insurance Company)
3 Cenesco Company, LLC NA 100.00% Rule 58
3 Exelon Allowance Management Company, LLC NA 100.00% Rule 58
3 Susquehanna Electric Company 1,000 100.00% Utility Company
3 Exelon SHC, Inc. NA 85.00% Genco-LP Intermediate Subsidiary
NA 14.00% Peaker Dev. Gen.-GP
NA 1.00% Ventures - LP
4 Keystone Fuels, LLC NA 20.99% Rule 58
4 Conemaugh Fuels, LLC NA 20.72% Rule 58
4 EXRES, SHC, Inc. * NA 50.00% Intermediate Subsidiary
5 Exelon (Fossil) Holdings, Inc. 100.00% Intermediate Subsidiary
6 National Energy
Development, Inc. (NEDI) * 100 100.00% Intermediate Subsidiary
6 Sithe Energies, Inc. * 56.00% Fossil Holdings Combination Exempt Wholesale
Generator and Rule 58
44.00% NEDI Intermediate Subsidiary
3 British Energy US Holdings, Inc. 73,000 100.00% Intermediate Subsidiary
4 British Energy US Investments, LLC NA 100.00% Intermediate Subsidiary
4 British Energy Limited Partnership NA 99.00% British Energy Intermediate Subsidiary
Holdings, Inc.
as LP
NA 1.00%
British Energy US
Investments, as GP
5 AmerGen Energy Company, LLC NA 50.00% Genco Exempt Wholesale Generator
NA 50.00% British Energy
Limited Partnership
6 AmerGen Consolidation, LLC NA 100.00% Intermediate Subsidiary
6 AmerGen TMI NQF, LLC NA 100.00% Intermediate Subsidiary
6 AmerGen Oyster Creek NQF, LLC NA 100.00% Intermediate Subsidiary
6 AmerGen Clinton NQF, LLC NA 100.00% Intermediate Subsidiary
3 PECO Energy Power Company 984,000 100.00% Electric Utility Company
and Registered Holding
Company
4 Susquehanna Power Company 1,273,000 100.00% Electric Utility Company
5 The Proprietors of the
Susquehanna Canal* NA 100.00% Inactive
3 Exelon Generation International, Inc. * NA 100.00% Intermediate Subsidiary
3 Exelon Peaker Development General, LLC NA 100.00% Intermediate Subsidiary
3 Exelon Peaker Development Limited, LLC NA 100.00% Intermediate Subsidiary
4 ExTex LaPorte Limited Partnership * NA 99.00% Peaker Ltd.-LP Exempt Wholesale Generator
NA 1.00% Peaker Gen.-GP
3 ExTex Marketing, LLC NA 100.00% Rule 58
4 ExTex Power, LP NA 99.00% ExTexMarketing-LP Rule 58
NA 1.00% Genco - GP
3 Exelon AOG Holding # 1, Inc. 100.00% Intermediate Subsidiary
3 Exelon AOG Holding # 2, Inc. 100.00% Intermediate Subsidiary
4 Exelon New England Power Marketing, LP NA 99.00% AOG # 2, LP Rule 58
NA 1.00% AOG # 1, GP
6
3 Exelon New England Holdings, LLC NA 100.00% Intermediate Subsidiary
4 Exelon New England Power Services, Inc. 100.00% Rule 58
4 Exelon New England Development, LLC NA 100.00% Development Company
4 Exelon Wyman, LLC NA 100.00% Exempt Wholesale Generator
4 Exelon Edgar, LLC NA 100.00% Exempt Wholesale Generator
4 Exelon Framingham, LLC NA 100.00% Exempt Wholesale Generator
4 Exelon Framingham Development, LLC NA 100.00% Development Company
4 Exelon West Medway, LLC NA 100.00% Exempt Wholesale Generator
4 Exelon West Medway Expansion, LLC * NA 100.00% Development Company
4 Exelon West Medway Development, LLC NA 100.00% Development Company
4 Exelon Boston Services, LLC NA 100.00% Rule 58
4 Exelon New Boston, LLC NA 100.00% Exempt Wholesale Generator
4 Exelon Hamilton, LLC NA 100.00% Rule 58
4 Exelon Boston Generating, LLC NA 100.00% Intermediate Subsidiary
5 Exelon Mystic, LLC NA 100.00% Exempt Wholesale Generator
5 Exelon Mystic Development, LLC NA 100.00% Exempt Wholesale Generator
5 Exelon ForeRiver Development, LLC NA 100.00% Exempt Wholesale Generator
3 Exelon PowerLabs, LLC NA 100.00% Rule 58 (vii)
3 Exelon Generation Consolidation, LLC NA 100.00% Intermediate Subsidiary
4 Braidwood 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Braidwood 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Byron 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Byron 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Dresden 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Dresden 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Dresden 3 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 LaSalle 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 LaSalle 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Limerick 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Limerick 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 PeachBottom 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 PeachBottom 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 PeachBottom 3 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Quad Cities 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Quad Cities 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Salem 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Salem 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Zion 1 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
4 Zion 2 NQF, LLC NA 100.00% Successor to trusts approved
in the merger order.
2 Exelon Enterprises Company, LLC NA 100.00% Non-Utility Holding Company
Second Tier
3 Exelon Energy Company 100 100.00% Rule 58
4 AllEnergy Gas & Electric
Marketing Company, LLC NA 100.00% Rule 58
5 Texas Ohio Gas, Inc. 100 100.00% Rule 58
7
3 Exelon Enterprises Management, Inc. 100.00% Approved in Merger Order
(investments in Rule 58 and
Telecommunications)
4 CIC Global, LLC NA 50.00% ETC
4 UniGrid Energy, LLC* NA 50.00% ETC - Inactive
4 Phoenix Foods, LLC 5.00% ETC
4 Exelon Capital Partners, Inc. 100 100.00% Approved in Merger Order
(investments in Rule 58 and
Telecommunications)
5 Automated Power Exchange 5.80% ETC
5 Clean Air Partners, Inc. 14.30% ETC
5 Soft Switching Technologies, Inc. 4.20% ETC
5 Nxt Phase Corporation 6.10% ETC
5 ECP Telecommunications Holdings, LLC NA 100.00% Holds ETCs
6 Energy Trading Company 100.00% ETC
7 Entrade, Inc. < 10% ETC
7 WorldWide Web Network Corp < 10% ETC
6 Enerwise Global Technologies, Inc. 16.30% ETC
6 Everest Broadband Networks 15.50% ETC
6 Exotrope, Inc. < 10% ETC
6 Media Station, Inc. 2.48% ETC
6 NEON Communications, Inc. 10.01% Approved in Merger Order
(Investment)
6 SoftComp, Inc (PermitsNow) 15.51% Inactive
6 Planalytics, Inc. 9.60% ECP
6 Pantellos Corporation 3.80% ETC
6 SmartSynch 10.50% ETC
6 VITTS Network Group, Inc. 20.26% ETC
6 OmniChoice.com, Inc. 30.10% ETC
5 Exelon Enterprises Investments, Inc. 100.00% Approved in Merger Order
(investments in Rule 58 and
telecommunications)
6 Kinetic Venture Fund I, LLC 22.22% Merger U-1 Amendment # 5
(Reserved Jurisdiction)
6 Kinetic Venture Fund II, LLC 14.30% Merger U-1 Amendment # 5
(Reserved Jurisdiction)
6 Enertech Capital Partners II 6.10% ETC
6 UTECH Climate Challenge Fund, L.P. 24.30% Approved in Merger Order
(eneragy related - venture
capital Rule 58)
6 EEI Telecommunications Holdings, LLC NA 100.00% ETC
7 Exelon Communications Holdings, LLC NA 100.00% ETC
8 PHT Holdings, LLC NA 100.00% Held by ETC
9 PECO Hyperion Telecommunications NA 49.00% PHT Holdings Held by ETC
NA 1.00% PECO
8 Exelon Communications Company, LLC NA 100.00% Held by ETC
3 F & M Holdings Company, LLC NA 100.00% Rule 58
4 Oldco VSI, Inc. 100 100.00% Rule 58
5 EGW Meter Services, LLC * NA 100.00% Rule 58
4 II Services, Inc. 100.00% Rule 58
5 EIS Engineering, Inc. 100.00% Rule 58
6 InfraSource Field Services LLC * NA 100.00% Rule 58
4 NEWCOSY, Inc. 1 100.00% Rule 58
4 Fischbach and Moore Electric, Inc. 1 100.00% Rule 58
4 NEWCOTRA, Inc.* 1 100.00% Rule 58
5 Fischbach and Moore, Inc. 1 100.00% Rule 58
6 Fischbach and Moore Electrical
Contracting, Inc.* 1 100.00% Rule 58
6 T.H. Green Electric Co., Inc.* 1 100.00% Rule 58
5 Rand-Bright Corporation 1 100.00% Rule 58
5 OSP Servicios S.A. de C.V.* 100.00% Rule 58
5 Universal Network Development, Corp.* 49.00% Rule 58
4 EIS Investments, LLC* NA 100.00% Rule 58
5 WCB Services, LLC * NA 49.00% Rule 58
3 Exelon Services, Inc. 100.00% Rule 58
4 Exelon Services Federal Group, Inc. 100.00% Rule 58
3 Unicom Power Holdings, LLC NA 100.00% Rule 58
3 Unicom Power Marketing, Inc. 100 100.00% Rule 58
8
3 Adwin Equipment Company 100.00% Rule 58
3 Exelon Thermal Holdings, Inc. 100 100.00% Rule 58
4 ETT North America, Inc. 10 100.00% Rule 58
5 Northwind Thermal Technologies
Canada, Inc. 10 100.00% Merger Order Reserved
Jurisdiction ; Investment
U-1 in Docket 70-9691 (
Rule 58 operating outside
the U.S.)
6 ETT Canada, Inc. 10 100.00% Merger Order Reserved
Jurisdiction ; Investment
U-1 in Docket 70-9691
(Rule 58 operating outside
the U.S.)
7 Northwind Windsor NA 50.00% Merger Order Reserved
Jurisdiction ; Investment
U-1 in Docket 70-9691
(Rule 58 operating outside
the U.S.)
4 ETT Nevada, Inc. 100 100.00% Rule 58
5 Northwind Aladdin, LLC * NA 75.00% Rule 58
5 Northwind Las Vegas, LLC * NA 50.00% Rule 58
4 Exelon Thermal Development, Inc. 100 100.00% Rule 58
4 ETT Boston, Inc. 100 100.00% Rule 58
4 Northwind Boston, LLC NA 25.00% Rule 58
4 ETT Houston, Inc. 100 100.00% Rule 58
4 Thermal Chicago Corporation* 100 100.00% Rule 58
5 Northwind Chicago, LLC Member Interest 100.00% Rule 58
5 Exelon Thermal Technologies, Inc. 100 100.00% Rule 58
5 ETT National Power Inc. 100 100.00% Rule 58
6 Northwind Midway, LLC* Member Interest 100.00% Rule 58
1 Exelon Energy Delivery Company, LLC NA 100.00% Intermediate public utility
holding company
2 New IP Company* 100 100.00% Utility company
2 PECO Energy Company 170,478,507 100.00% Electric and Gas Utility
Company
3 East Coast Natural Gas Cooperative, LLP NA 41.12% Rule 58
3 Horizon Energy Company* 1,000 100.00% Inactive
3 Adwin Realty Company 1,000 100.00% Merger Order Reserved
Jurisdiction (Real
Estate) (2)
4 Ambassador II Joint Venture * NA 50.00% Merger Order Reserved
Jurisdiction (Real
Estate) (2)
4 Bradford Associates * NA 50.00% Merger Order Reserved
Jurisdiction (Real
Estate) (2)
4 Franklin Town Towers Associates * 50 50.00% Merger Order Reserved
Jurisdiction (Real
Estate) (2)
4 Henderson Ambassador Associates * NA 50.00% Merger Order Reserved
Jurisdiction (Real
Estate) (2)
3 PECO Energy Transition Trust NA 100.00% Approved in Merger Order
(Financing)
3 PECO Energy Capital Corp. 1,000 100.00% Approved in Merger Order
(Financing)
4 PECO Energy Capital Trust III NA 100.00% Approved in Merger Order
(Financing)
4 PECO Energy Capital, LP NA 3.00% Approved in Merger Order
(Financing)
3 PECO Energy Capital Trust IV NA 100.00% Financing
3 PECO Energy Capital Trust V* NA 100.00% Financing
3 PECO Energy Capital Trust VI* NA 100.00% Financing
3 ExTel Corporation, LLC NA 100.00% Intermediate Subsidiary
4 PECO Wireless, LP NA 99.00% PECO Intermediate Subsidiary
1.00% ExTel
5 ATNP Finance Company 100 100.00% Approved in Merger Order
(Financing)
5 PEC Financial Services, LLC NA 100.00% Approved in Merger Order
(Financing)
3 Adwin (Schuylkill) Cogeneration, Inc. * 50.00% ERC
9
2 Commonwealth Edison Company 127,002,904 99.90% 0.01 Various Public Utility Holding
Company, Second Tier;
Electric Utility Company
3 Commonwealth Edison Company of Indiana, Inc. 908,084 100.00% Electric Utility Company
3 ComEd Financing I * NA 100.00% Approved in Merger Order
(Financing)
3 ComEd Financing II * NA 100.00% Approved in Merger Order
(Financing)
3 ComEd Financing III NA 100.00% Financing
3 ComEd Funding, LLC NA 100.00% Approved in Merger Order
(Financing)
4 ComEd Transitional Funding Trust NA 100.00% Approved in Merger Order
(Financing)
3 Commonwealth Research Corporation 200 100.00% Rule 58
3 Edison Development Company 741 100.00% Approved in Merger Order
(economic and community
development)
3 Edison Development Canada Inc. 15,158 100.00% Merger Order reserved
jurisdiction; Investment U-1
in Docket 70-9691 (economic
and community development)
4 Edison Finance Partnership NA 100.00% Merger Order reserved
jurisdiction; Investment U-1
in Docket 70-9691
(Financing)
3 Chicago Equity Fund <10% Approved in Merger Order
(economic and community
development)
3 Dearborn Park Corporation <10% Approved in Merger Order
(economic and community
development)
3 I.L.P. Fund C/O Chicago Capital Fund <10% Approved in Merger Order
(economic and community
development)
* Inactive company.
Note 1 - Changes in System Companies
- -------------------------------------
Companies Dissolved During the Year
- -------------------------------------
AmerGen Vermont, LLC Dissolved 3/11/2003.
Exelon Generation Canada Corporation dissolved 2/27/2003.
PECO Energy Capital Trust II - Dissolved 12/31/2003
Exelon Power Holdings, LP - Dissolved November 25, 2003
InfraSource Environmental Services, LLC - Dissolved June 19, 2003
Subsidiaries Added During the Year
- -------------------------------------
Exelon Investment Holdings, LLC formed in Illinois 3/17/2003. Holding company
for tax-advantaged transactions (housing) that were approved in the merger
order.
ExTex Retail Services Company, LLC
Retail provider of electricity to commercial customers in Texas,
dab Exelon Power Services
AllEnergy Connecticut Company, LLC
10
Formed in Delaware, 6/13/2003
Retail marketing of natural gas and energy-related services.
AllEnergy Massachusetts Company, LLC
Formed in Delaware, 6/13/2003
Retail marketing of natural gas and energy-related services.
AllEnergy New Jersey Company, LLC
Formed in Delaware, 6/13/2003
Retail marketing of natural gas and energy-related services.
AllEnergy New York Company, LLC
Formed in Delaware, 6/13/2003
Retail marketing of natural gas and energy-related services.
AllEnergy Rhode Island Company, LLC
Formed in Delaware, 6/13/2003
Retail marketing of natural gas and energy-related services.
PECO Energy Capital Trust IV
Financing company formed in Delaware 5/9/2003
PECO Energy Capital Trust V
Financing company formed in Delaware 5/9/2003
PECO Energy Capital Trust VI
Financing company formed in Delaware 5/9/2003
Thermal Chicago Corporation Holding company for thermal energy companies Formed
in Delaware, October 3, 2003
New IP Company
Holding company, formed in Illinois, October 28, 2003
Dresden 1 NQF, LLC (a)
11
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
Dresden 2 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
Dresden 3 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
LaSalle 1 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
LaSalle 2 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
Limerick 1 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
Limerick 2 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
PeachBottom 1 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
PeachBottom 2 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
PeachBottom 3 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 20, 2003
Braidwood 1 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Braidwood 2 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Byron 1 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Byron 2 NQF, LLC (a)
12
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Quad Cities 1 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Quad Cities 2 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Salem 1 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Salem 2 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Zion 1 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Zion 2 NQF, LLC (a)
Hold and manage Nonqualified Decommissioning Fund for the nuclear plant.
Organized in Nevada, October 21, 2003
Exelon Generation Consolidation, LLC (b)
Hold and manage the Qualified Nuclear Decommissioning funds for the Units and
will also become the Member of the 20 NQF companies
Organized in Nevada, October 22, 2003
AMERGEN TMI, NQF, LLC
Hold and manage nonqualified decommissioning fund.
Organized in Nevada, December 13, 2002
AmerGen Clinton, NQF, LLC
Hold and manage nonqualified decommissioning fund.
Organized in Nevada, December 13, 2003
AmerGen Oyster Creek, NQF, LLC
Hold and manage nonqualified decommissioning fund.
Organized In Nevada, December 13, 2003.
AllEnergy Gas Marketing Company New Jersey, LLC
Formed in Delaware, July 10, 2003
Retail marketing of natural gas and energy-related services.
AllEnergy Gas Marketing Company New York, LLC
Formed in Delaware, July 10, 2003
Retail marketing of natural gas and energy-related services.
Exelon SynFuel I, LLC
Holding company for IRC 29 activities
Formed in Delaware, July 25, 2003
13
Exelon SynFuel II, LLC
Holding company for IRC 29 activities
Formed in Delaware, July 25, 2003
Exelon SHC, Inc.
Holding company for an EWG investment
Formed in Delaware, July 25, 2003
EXRES SHC, Inc.
Holding company for an EWG investment
Formed in Delaware, July 25, 2003
Exelon Capital Trust I
Financing company
Formed in Delaware, August 25, 2003
Exelon Capital Trust II
Financing company
Formed in Delaware, August 25, 2003
Exelon Capital Trust III
Financing company
Formed in Delaware, August 25, 2003
F&M Holdings Company, LLC
Holding company for Rule 58 investments
Formed in Delaware, September 18,2003
DTE Buckeye, LLC
IRC 29 activities
Acquired November 25, 2003 by Exelon SynFuel I, LLC
DTE Belews Creek, LLC
IRC 29 activities
Acquired November 25, 2003 by Exelon SynFuel II, LLC
Name Changes During the year
- ----------------------------
NEWCOSY, Inc. - Name change from Syracuse Merit Electric, Inc.
II Services, Inc. - Name change from InfraSource Integrated Services, Inc.
Oldco VSI, Inc. - Name change from VSI Group Inc.
Dispositions During the Year
- ----------------------------
Aconite Corporation - Sold September 24, 2003
14
AllEnergy Connecticut Company, LLC. - Sold September 1, 2003
AllEnergy Gas Marketing Company New Jersey, LLC - Sold 11/1/2003
AllEnergy Gas Marketing Company New York, LLC - Sold 11/1/2003
AllEnergy Massachusetts Company, LLC. - Sold September 1, 2003
AllEnergy New Jersey Company, LLC - Sold 11/1/2003
AllEnergy New York Company, LLC - Sold 10/1/2003
AllEnergy Rhode Island Company, LLC. - Sold September 1, 2003
Blair Park Services, Inc. - Sold September 24,2003
Chowns Communications, Inc. - Sold September 24, 2003
Dacon Corporation - Sold September 24, 2003
Dashiell Corporation - Sold September 24, 2003
Dashiell Holdings Corporation - Sold September 24, 2003
Electric Services, Inc. - Sold September 24, 2003
Gas Distribution Contractors, Inc. - Sold September 24, 2003
InfraSource Corporate Services, Inc. - Sold September 24, 2003
InfraSource Underground Construction, LLC - Sold September 24, 2003
InfraSource, Inc. - Sold September 24, 2003
International Communications Services, Inc. - Sold September 24, 2003
M.J. Electric, Inc. - Sold September 24, 2003
Mechanical Specialties Incorporated - Sold September 24, 2003
Mid-Atlantic Pipeliners, Inc. - Sold September 24, 2003
MRM Technical Group, Inc. - Sold September 24, 2003
Mueller Distribution Contractors, Inc. - Sold September 24, 2003
Mueller Pipeliners, Inc. - Sold September 24, 2003
OSP Consultants, Inc. - Sold September 24, 2003
OSP Telcomm de Mexico, S.A. de C.V. - Sold September 24, 2003
OSP Telecom, Inc. - Sold September 24, 2003
OSP, Inc. - Sold September 24, 2003
RJE Telecom, Inc. - Sold September 24, 2003
Sunesys of Virginia, Inc. - Sold September 24, 2003
Sunesys, Inc. - Sold September 24, 2003
Trinity Industries, Inc. - Sold September 24,2003
Utility Locate & Mapping Services, Inc. - Sold December 9, 2003
Note 2 - Investments in Unsecured Debt
- --------------------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Intercompany Loan from Intercompany Loan to Interest Rate Loan Balance
(in thousands)
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon EBSC Libor plus 0.50% $10,500
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Genco Libor plus 0.50% 115,000
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon Generation Finance Exelon Allowance Management 7.44% 27,855
Company, LLC Company, LLC
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Genco Libor plus 0.55% 702,500
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
15
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon New England Libor plus 3.00% 10,000
Holdings, LLC
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon Peaker Development Libor plus 2.25% 445,172
Limited, LLC
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Nuclear US Holdings, Inc. Libor plus 0.55% 132,290
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
PEC Financial Services, LLC PECO Energy Company 9.95% 4,000,000
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
PECO Energy Company 12.7% 1,245,779
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
ATNP Finance Company PEC Financial Services, LLC 9.75% 4,000,000
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
PEC Financial Services, LLC 12.5% 1,196,967
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Unicom Investment, Inc. Enterprises One month LIBOR plus 50 117,856
basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
ComEd EBSC One month LIBOR plus 50 104,500
basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Unicom Investments, Inc One month LIBOR plus 50 1,070,696
basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Edison Finance Partnership Exelon Thermal Holdings, 8% 19,935
Inc.
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
EEI Telecommunications Exelon Energy Company One month LIBOR plus 50 29,069
Holdings, Inc. basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Enterprises One month LIBOR plus 50 10,000
basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon Services, Inc. One month LIBOR plus 50 18,000
basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon Services, Inc. 6% 63,277
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon Thermal Holdings, One month LIBOR plus 50 83,900
Inc. basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Enterprises Exelon Enterprises One month LIBOR plus 50 39,163
Management, Inc. basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon services, Inc. One month LIBOR plus 50 12,500
basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
F&M Holdings, LLC One month LIBOR plus 50 3,431
basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
16
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon Enterprises Enterprises One month LIBOR plus 50 344,582
Investment, Inc. basis points
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Genco Exelon Peaker Development Libor plus 0.50% 7,174
General, LLC
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Exelon Ventures Company, LLC Libor plus 0.50% 1,330
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
Susquehanna Electric Libor plus 0.50% 60
Company
- ------------------------------- ----------------------------- ----------------------------- -----------------------------
ITEM 2. ACQUISITIONS OR SALES OF UTILITY ASSETS
None.
ITEM 3. ISSUE, SALE, PLEDGE, GUARANTEE OR ASSUMPTION OF SYSTEM
SECURITIES
None.
ITEM 4. ACQUISITION, REDEMPTION OR RETIREMENT OF SYSTEM SECURITIES
(in millions)
------------------------ ------------------- ------------- ------------- ---------------- ----------------
Name of
Company
Name of Issuer and Acquiring, Commission
Title of issuer Redeeming or Retired Redeemed Consideration Authorization
Retiring
Securities
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd $200.00 $200.00 Rule 42
First Mortgage
Bonds 7.375%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 200.00 200.00 Rule 42
First Mortgage
Bonds 8.375%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 200.00 200.00 Rule 42
Senior Notes
Variable
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 100.00 100.00 Rule 42
Medium-Term Notes
9.170%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 200.00 200.00 Rule 42
Trust Preferred
Securities 8.480%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 235.95 235.95 Rule 42
First Mortgage
Bonds 8.375%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 160.00 160.00 Rule 42
First Mortgage
Bonds 8.000%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd Pollution ComEd 42.00 42.00 Rule 42
Control Obligations
5.875%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 100.00 100.00 Rule 42
First Mortgage
Bonds 6.625%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
17
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 150.00 150.00 Rule 42
First Mortgage
Bonds 7.750%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 250.00 250.00 Rule 42
Medium-Term Notes
Variable
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd ComEd 42.20 42.20 Rule 42
Pollution Control
Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd Pollution ComEd 50.00 50.00 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ComEd Pollution ComEd 26.00 26.00 Rule 42
Control Obligations
5.300%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
Genco Pollution Genco 82.56 82.56 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
Genco Pollution Genco 13.34 13.34 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
Genco Pollution Genco 34.00 34.00 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
Genco Pollution Genco 17.24 17.24 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
Genco Pollution Genco 24.13 24.13 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
Genco Pollution Genco 18.44 18.44 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
Genco Pollution Genco 23.00 23.00 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
PECO Pollution PECO 50.00 50.00 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
PECO Pollution PECO 50.00 50.00 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
PECO Pollution PECO 50.00 50.00 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
PECO Pollution PECO 4.20 4.20 Rule 42
Control Obligations
------------------------ ------------------- ------------- ------------- ---------------- ----------------
PECO First Mortgage PECO 250.00 250.00 Rule 42
Bonds 6.625
------------------------ ------------------- ------------- ------------- ---------------- ----------------
PECO First Mortgage PECO 200.00 200.00 Rule 42
Bonds 6.625
------------------------ ------------------- ------------- ------------- ---------------- ----------------
PECO MIPS 8.000% PECO 50.00 50.00 Rule 42
------------------------ ------------------- ------------- ------------- ---------------- ----------------
PECO Preferred PECO 50.00 50.00 Rule 42
7.480%
------------------------ ------------------- ------------- ------------- ---------------- ----------------
ITEM 5. INVESTMENTS IN SECURITIES OF NON-SYSTEM COMPANIES AS OF
DECEMBER 31, 2003.
Part 1. There were no investments in persons operating in the retail service
area of Exelon, or its subsidiaries.
Part 2. Investments in Securities of Non-System Companies is filed herewith
confidentially pursuant to 17 CFR ss. 250.104 under the Public Utility Holding
Company Act of 1935.
ITEM 6. OFFICERS AND DIRECTORS - PART 1.
The positions of officers and directors of system companies as of December 31,
2003 were as follows:
Adwin (Schuylkill) Cogeneration, Inc.
18
Directors
---------
John R. Heller Director
James A. Muntz Director
Gerald R. Rainey Director
Officers
---------
Gerald R. Rainey Chairman, President
William J. Brady III Vice President
George R. Shicora Treasurer
Katherine K. Combs Secretary
John C. Halderman Assistant Secretary
John C. Halderman General Counsel
Adwin Equipment Company
Directors
---------
George H. Gilmore Jr. Director
John C. Halderman Director
Ronald S. Rooth Director
Officers
---------
George H. Gilmore Jr. President
J. Barry Mitchell Vice President and
Treasurer
John C. Halderman Corporate Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Corporate
Secretary
Adwin Realty Company
19
Directors
---------
Craig L. Adams Director
Denis P. O'Brien Director
Officers
---------
Michael A. Williams Vice President
J. Barry Mitchell Treasurer
John C. Halderman Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Other
-----
Denis P. O'Brien Chairman, President
AllEnergy Gas & Electric Marketing Company, LLC
Officers
---------
Barbara A. Fatina Vice President
Barbara A. Fatina Treasurer
Barbara A. Fatina Secretary
Ambassador II Joint Venture
Officers
---------
- Partnership Does Not Have Officers
20
AmerGen Clinton NQF, LLC
AmerGen Consolidation, LLC
Managers
J. Barry Mitchell Manager
Charles S. Walls Manager
Thomas H. Weir Manager
AmerGen Energy Company, LLC
Officers
---------
John L. Skolds Chief Executive Officer and
Chief Nuclear Officer
John L. Skolds President
William H. Bohlke Senior Vice President
Christopher M. Crane Senior Vice President
Charles G. Pardee Senior Vice President
Jeffrey A. Benjamin Vice President, Licensing
and Regulatory Affairs
Ernest J. Harkness Vice President -
Oyster Creek
Charles P. Lewis Vice President
George Vanderheyden Vice President, MidAtlantic
Regional Operating Group
Support
David B. Wozniak Vice President, Midwest
Regional Operating Group
Support
Robert S Bement Site Vice President -
Clinton Nuclear Power
Station
C. N. Swenson Site Vice President
- Oyster Creek
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
21
AmerGen Oyster Creek NQF, LLC
AmerGen TMI NQF, LLC
ATNP Finance Company
Directors
---------
Gavin R. Arton Director
Thomas M. Baglini Director
J. Michael Collier Jr. Director
Yolanda F. Pagano Director
Officers
---------
John M. Wadson President
John M. Wadson Treasurer
John M. Wadson Secretary
British Energy US Holdings, Inc.
Officers
---------
Christopher M. Crane President
Edward J. Cullen Jr. Secretary
J. Barry Mitchell Treasurer
Charles G, Pardee Vice President
George R. Shicora Assistant Treasurer
Kevin D. Stepanuk Assistant Secretary
Charles S. Walls Assistant Treasurer
22
Directors
---------
Christopher M. Crane Director
Oliver D. Kingsley, Jr Director
John W. Rowe Director
British Energy US Investments, LLC
Officers
---------
Christopher M. Crane President
Edward J. Cullen Jr. Secretary
J. Barry Mitchell Treasurer
Charles G, Pardee Vice President
George R. Shicora Assistant Treasurer
Kevin D. Stepanuk Assistant Secretary
Charles S. Walls Assistant Treasurer
Directors
---------
Christopher M. Crane Manager
Edward J. Cullen Jr. Manager
Charles G, Pardee Manager
British Energy, LP
Officers
---------
Christopher M. Crane President
Edward J. Cullen Jr. Secretary
J. Barry Mitchell Treasurer
23
Charles G, Pardee Vice President
George R. Shicora Assistant Treasurer
Kevin D. Stepanuk Assistant Secretary
Charles S. Walls Assistant Treasurer
Exelon Boston Generating, LLC
Officers
---------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Bradford Associates
Officers
---------
- Partnership Does Not Have Officers
Braidwood 1 NQF, LLC
Officers
---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
24
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Braidwood 2 NQF, LLC
Officers
---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Byron 1 NQF, LLC
Officers
---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
25
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Byron 2 NQF, LLC
Officers
---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Cenesco Company, LLC
Officers
---------
James P. Malone President
Kevin P. Donovan Vice President
Rod Krich Vice President
Kenneth S. Petersen Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
26
ComEd Financing I
Trustees
- ---------
Wilmington Trust Company Trustee
J. Barry Mitchell Trustee
Charles S. Walls Trustee
ComEd Financing II
Trustees
- ---------
Wilmington Trust Company Trustee
J. Barry Mitchell Trustee
ComEd Financing III
Trustees
- ---------
Wilmington Trust Company Trustee
Kathryn M. Houtsma Trustee
Thomas R. Miller Trustee
J. Barry Mitchell Trustee
ComEd Funding, LLC
Officers
J. Barry Mitchell President
Charles S. Walls Treasurer
Kathryn M. Houtsma Manager
ComEd Transitional Funding Trust
27
Trustees
- ---------
First Union Trust Company, National Trustee
Association
J. Barry Mitchell Trustee
Daniel E. Thone Trustee
Charles S. Walls Trustee
Commonwealth Edison Company
Directors
- ---------
Michael B. Bemis Director
Frank M. Clark Director
Oliver D. Kingsley Jr. Director
John W. Rowe Director
Robert S. Shapard Director
S. Gary Snodgrass Director
Officers
- ---------
John W. Rowe Chairman
Michael B. Bemis Chief Executive Officer
Frank M. Clark President
J. Barry Mitchell Chief Financial Officer
John T. Costello Senior Vice President,
Customer and Marketing
Services
J. Barry Mitchell Senior Vice President
Denis P. O'Brien Senior Vice President
Preston D. Swafford Senior Vice President,
Operations
Craig L. Adams Vice President, Support
Services
Mark Alden Vice President, Project and
Contract Management
Commonwealth Edison Company
28
Michael N. Beckstead Vice President
Ellen M. Cavanaugh Vice President,
Transmission Strategy and
Business Operations
Celia David Vice President,
Transmission Policy and
Planning
David G. DeCampli Vice President,
Integration
Duane M. DesParte Vice President,
Controller and Comptroller
Terence R. Donnelly Vice President,
Construction and
Maintenance/East
Stephanie J. Hickman Vice President,
Human Resource Services
John T. Hooker Vice President,
EED Property Management,
Legislative and External
Affairs
Kathryn M. Houtsma Vice President, Finance
Susan O. Ivey Vice President,
Transmission Operations
Frank J. Jiruska Vice President,
Energy and Marketing
Services
J. Lindsay Johnston Vice President,
Management Development
Arlene A. Juracek Vice President,
Load Forecasting and Energy
Acquisition
George W. Lofton Vice President,
External Affairs and Claims
George W. Lofton Vice President, Claims
Fidel Marquez Jr. Vice President,
Transmission and Substation
Anne R. Pramaggiore Vice President,
Regulatory and Strategic
Services
Wanda Kay Reder Vice President,
Asset Management
Bruce A. Renwick Vice President,
Dispatch and Operations
Patricia Pulido Sanchez Vice President,
External Affairs - Chicago
Commonwealth Edison Company
Carl L Segneri Jr. Vice President,
Construction and
Maintenance
Thomas D. Terry Jr. Vice President, Taxes
Kathleen M. Walters Vice President,
Information Technology
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Robert A. Kleczynski Assistant Vice President,
Taxes
Thomas R. Miller Assistant Treasurer
29
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
James M. Baloun Assistant Secretary
Todd D. Cutler Assistant Secretary
Adrienne M. Levatino Assistant Secretary
Scott N. Peters Assistant Secretary
Bruce G. Wilson Assistant Secretary
Commonwealth Edison Company of Indiana, Inc.
Directors
---------
Frank M. Clark Director
Pamela B. Strobel Director
Officers
- ---------
Frank M. Clark President
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Kevin J. Waden Assistant Secretary
Other
- -----
Kevin J. Waden Auditor
Commonwealth Research Corporation
30
Directors
- ---------
Frank M. Clark Director
Pamela B. Strobel Director
Officers
- ---------
Frank M. Clark President
Frank M. Clark President
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Concomber, Ltd.
Directors
- ---------
Andrew D. Carr Director
C.F.A. Cooper Director
Officers
- ---------
Andrew D. Carr Chairman
Harlan M. Dellsy President
Andrew D. Carr Vice President
G. Porento Vice President
George P. Rifakes Vice President
31
I. S. Outerbridge III Secretary
Richard J. Martin Assistant Secretary
Conemaugh Fuels, LLC
Dresden 1 NQF, LLC
Officers
- ---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Dresden 2 NQF, LLC
Officers
- ---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
32
Dresden 3 NQF, LLC
Officers
- ---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
East Coast Natural Gas Cooperative, LLC
ECP Telecommunications Holdings, LLC
Officers
- ---------
Robert A. Shinn President
Ronald S. Rooth Senior Vice President and
Chief Financial Officer
J. Barry Mitchell Vice President and
Treasurer
John C. Halderman Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Donald J. Bromley Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Edison Development Canada Inc.
33
Directors
- ---------
Comment:
Frank M. Clark Director
Edward L. Donegan Director
Robert M. Granatstein Director
Gail Lilley Director
Pamela B. Strobel Director
Officers
- ---------
Frank M. Clark President
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Carter C. Culver Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Edison Development Company
Directors
- ---------
Comment:
Frank M. Clark Director
Pamela B. Strobel Director
Officers
- ---------
Frank M. Clark President
34
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Edison Finance Partnership
Officers
- ---------
Thomas D. Terry Jr. President
EEI Telecommunications Holdings, LLC
Officers
- ---------
John M. Wadson President,
Treasurer and Secretary
Gavin R. Arton Manager
J. Michael Collier Jr. Manager
John C. Halderman Manager
Yolanda F. Pagano Manager
EGW Meter Services, LLC
EIS Engineering, Inc.
Officers
- ---------
George H. Gilmore Jr. Chairman
George H. Gilmore Jr. Chief Executive Officer
35
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Scott N. Peters Assistant Secretary
EIS Investments, LLC
Officers
- ---------
George H. Gilmore Jr. Manager
Energy Trading Company
Directors
- ---------
Comment:
George H. Gilmore Jr. Director
John C. Halderman Director
Ronald S. Rooth Director
Officers
- ---------
George H. Gilmore Jr. Chairman of the Board
Robert A. Shinn President
Ronald S. Rooth Chief Financial Officer
Ronald S. Rooth Senior Vice President
J. Barry Mitchell Vice President and
Treasurer
John C. Halderman Corporate Secretary
George R. Shicora Assistant Treasurer
36
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Corporate
Secretary
John C. Halderman General Counsel
ETT Boston, Inc.
Directors
- --------
Comment:
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- --------
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
ETT Canada, Inc.
Directors
- --------
37
Comment:
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- --------
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
ETT Houston, Inc.
Directors
- --------
Comment:
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- --------
George H. Gilmore Jr. President
38
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
ETT National Power, Inc.
Directors
- --------
Comment:
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- --------
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
39
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
ETT Nevada, Inc.
Directors
- ---------
Comment:
Carter C. Culver Director
Officers
- --------
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Carter C. Culver Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
ETT North America, Inc.
Directors
- --------
Comment:
40
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- --------
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
Exelon Allowance Management Company, LLC
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Edward J. Cullen Vice President and
Secretary
Ian P. McLean Vice President
J. Barry Mitchell Vice President and
Treasurer
Exelon AOG Holding #1, Inc.
41
Directors
- --------
Comment:
Kenneth W. Cornew Director
Oliver D. Kingsley Jr. Director
Ian P. McLean Director
Officers
- --------
Ian P. McLean President
Kenneth W. Cornew Vice President
Edward Fedorchak Vice President
Susan O. Ivey Vice President
James S. Jablonski Vice President
Michael Metzner Vice President
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
J. Barry Mitchell Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Exelon AOG Holding #1, Inc.
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon AOG Holding #2, Inc
Directors
- --------
Comment:
Kenneth W. Cornew Director
42
Oliver D. Kingsley Jr. Director
Ian P. McLean Director
Officers
- --------
Ian P. McLean President
Kenneth W. Cornew Vice President
Edward Fedorchak Vice President
Susan O. Ivey Vice President
James S. Jablonski Vice President
Michael Metzner Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Exelon AOG Holding #2, Inc
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Boston Services, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
43
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Business Services Company
Directors
- --------
Comment:
Ruth Ann M. Gillis Director
Randall E. Mehrberg Director
Robert S. Shapard Director
John W. Rowe Director and Chair
Pamela B. Strobel Director
Officers
- --------
Ruth Ann M. Gillis President
Daniel C. Hill Chief Information Officer
M. Bridget Reidy Chief Supply Officer
M. Bridget Reidy Senior Vice President
Paul R. Bonney Vice President and
General Counsel
Thomas A. Clewett Vice President Projects &
Enterprise Solutions - IT
Katherine K. Combs Vice President
Edward J. Cullen Jr. Vice President
James D. Guerra Vice President - Finance
Daniel C. Hill Vice President
Exelon Business Services Company
Joseph A. Lasky Vice President, IT
Operations & Infrastructure
Services
44
Mary E. Ludford Vice President, HR and
Financial Services
J. Barry Mitchell Vice President and
Treasurer
Glenn D. Newman Vice President
David M. O'Brien Vice President,
Supply Operations
Karen J. Peery Vice President, IT Genco
Thomas D. Terry Jr. Vice President, Taxes
William A. VonHoene Jr. Vice President
Kathleen M. Walters Vice President, IT EED
Katherine K. Combs Corporate Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Bruce G. Wilson Assistant Secretary
Other
- --------
M. Bridget Reidy Deputy General Counsel
Exelon Capital Partners,
Inc.
Directors
- --------
George H. Gilmore Jr. Director
John C. Halderman Director
Ronald S. Rooth Director
Officers
- --------
George H. Gilmore Jr. Chairman of the Board
Robert A. Shinn President
45
Ronald S. Rooth Senior Vice President and
Chief Financial Officer
J. Barry Mitchell Vice President and
Treasurer
John C. Halderman Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Donald J. Bromley Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Capital Trust I
Inactive
Exelon Capital Trust II
Inactive
Exelon Capital Trust III
Inactive
Exelon Communications Company, LLC
Officers
- --------
George H. Gilmore Jr. President
Ronald S. Rooth Senior Vice President and
Chief Financial Officer
J. Barry Mitchell Vice President and
Treasurer
James W. Morozzi Vice President
Nicholas G. Stathes Vice President
John C. Halderman Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
46
Exelon Communications Holdings, LLC
Officers
- --------
George H. Gilmore Jr. President
Ronald S. Rooth Senior Vice President and
Chief Financial Officer
J. Barry Mitchell Vice President and
Treasurer
James W. Morozzi Vice President
Nicholas G. Stathes Vice President
John C. Halderman Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Corporation
Directors
--------
Edward A. Brennan Director
M. Walter D'Alessio Director
Nicholas DeBenedictis Director
Bruce DeMars Director
G. Fred DiBona Jr. Director
Sue L. Gin Director
Rosemarie B. Greco Director
Edgar D. Jannotta Director
John M. Palms Director
John W Rogers Jr. Director
John W. Rowe Director
Ronald Rubin Director
47
Richard L. Thomas Director
Officers
- --------
John W. Rowe Chairman of the Board and
Chief Executive Officer
Ian P. McLean Executive Vice President
Christopher M. Crane Senior Vice President
Michael B. Bemis Senior Vice President
Frank M. Clark Senior Vice President
Ruth Ann M. Gillis Senior Vice President
George H. Gilmore Jr. Senior Vice President
Richard H. Glanton Senior Vice President,
Corporate Planning
J. Barry Mitchell Senior Vice President
and Treasurer
S. Gary Snodgrass Senior Vice President and
Chief Human Resources
Officer
David W. Woods Senior Vice President,
Communications,
Governmental & Public
Affairs
John F. Young Senior Vice President
Virginia A. Brown Vice President, Human
Resources Planning and
Development
Linda C. Byus Vice President, Investor
Relations
Ellen D. Caya Vice President, Audit
Katherine K. Combs Vice President and
Corporate Secretary
Assir R. DaSilva Vice President, Diversity
Victor Fonseca Vice President,
Compensation
Sharon M. Hillman Vice President, Mergers &
Acquisitions, and
Divestitures
Matthew F. Hilzinger Vice President and
Corporate Controller
Helen A. Howes Vice President,
Environmental Affairs
Donald P. Kirchoffner Vice President,
Communications
Charles P. Lewis Vice President,
Corporate Development
Robert K. McDonald Vice President,
Risk Management
Thomas R. Miller Vice President - Finance
John R. Samolis Vice President, Labor and
Employee Relations
48
Carole Schecter Vice President, Employee
Health and Benefits
Carole Schecter Vice President, Benefits
Thomas D. Terry Jr. Vice President and General
Tax Officer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Bruce G. Wilson Assistant Secretary
Oliver D. Kingsley Jr. President and Chief
Operating Officer
Randall E. Mehrberg Executive Vice President
and General Counsel
Elizabeth A. Moler Executive Vice President,
Government Affairs & Public
Policy
Robert S. Shapard Executive Vice President
and Chief Financial Officer
Pamela B. Strobel Executive Vice President
and Chief Administrative
Officer
Exelon Edgar, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Energy Company
49
Directors
- --------
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- --------
George H. Gilmore Jr. President
J. Barry Mitchell Chief Financial Officer
Barbara A. Fatina Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Energy Delivery Company, LLC
Officers
- --------
Michael B. Bemis President
David G. DeCampli Chief Integration Officer
Frank M. Clark Senior Vice President
John T. Costello Senior Vice President,
Customer and Marketing
Services
John T. Hooker Senior Vice President,
Property Management
Denis P. O'Brien Senior Vice President
Preston D. Swafford Senior Vice President,
Operations
Craig L. Adams Vice President, Support
Services
50
Michael N. Beckstead Vice President, Business
Operations
Ellen M. Cavanaugh Vice President,
Transmission Strategy and
Business Operations
David G. DeCampli Vice President, Integration
Duane M. DesParte Vice President and
Controller
Terence R. Donnelly Vice President,
Construction and
Maintenance/East
Stephanie J. Hickman Vice President,
Human Resources
Kathryn M. Houtsma Vice President, Finance
Susan O. Ivey Vice President,
Transmission Operations
Frank J. Jiruska Vice President,
Energy and Marketing
Services
J. Lindsay Johnston Vice President, Management
Development
Arlene A. Juracek Vice President Load
Forecasting and Energy
Acquisition
George W. Lofton Vice President, Claims
Fidel Marquez Jr. Vice President,
Transmission and Substation
J. Barry Mitchell Vice President
Wanda Kay Reder Vice President,
Asset Management
Bruce A. Renwick Vice President,
Dispatch and Operations
Carl L Segneri Jr. Vice President,
Construction and
Maintenance/West
Thomas D. Terry Jr. Vice President, Taxes
Kathleen M. Walters Vice President,
Information Technology
J. Barry Mitchell Treasurer
Katherine K. Combs Corporate Secretary
Robert A. Kleczynski Assistant Vice President,
Taxes
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Corporate
Secretary
Scott N. Peters Assistant Corporate
Secretary
Bruce G. Wilson Assistant Secretary
51
Exelon Enterprises Company, LLC
Officers
- --------
John W. Rowe President
Oliver D. Kingsley Jr. Vice Chair
George H. Gilmore Jr. Chief Executive Officer
George H. Gilmore Jr. President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Enterprises Investments, Inc.
Directors
- ---------
Gavin R. Arton Director
J. Michael Collier Jr. Director
John C. Halderman Director
Yolanda F. Pagano Director
Officers
- --------
John M. Wadson President
John M. Wadson Treasurer
52
John M. Wadson Secretary
Exelon Enterprises Management, Inc.
Directors
---------
George H. Gilmore Jr. Director
John C. Halderman Director
Ronald S. Rooth Director
Officers
---------
Robert A. Shinn President
Ronald S. Rooth Senior Vice President and
Chief Financial Officer
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Framingham Development, LLC
Officers
---------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
53
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Framingham, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Generation Company, LLC
Officers
- --------
Oliver D. Kingsley Jr. Chief Executive Officer and
President Exelon Generation
Ian P. McLean President, Exelon Power
Team
John F. Young President, Exelon Power
John L. Skolds President and Chief Nuclear
Officer, Exelon Nuclear
Christopher M. Crane Chief Operating Officer,
Exelon Nuclear
William Arndt Senior Vice President,
Business Operations, Exelon
Generation
William H. Bohlke Senior Vice President,
Exelon Nuclear
54
Kenneth W. Cornew Senior Vice President,
Power Transactions &
Wholesale
Delivery, Exelon Power Team
Richard J. Landy Senior Vice President,
Human Resources &
Administration,
Exelon Generation
Charles G. Pardee Senior Vice President,
Nuclear Services,
Exelon Nuclear
David W. Woods Senior Vice President,
Communications,
Governmental &
Public Affairs
Phillip S. Barnett Vice President - Finance
Jeffrey A. Benjamin Vice President, Licensing
and Regulatory, Exelon
Nuclear
Robert C. Braun Vice President, Nuclear
Oversight, Exelon Nuclear
Kevin Cellars Vice President, Business
Operations, Exelon Power
Martin Coveney Vice President, Finance,
Exelon Nuclear
Edward J. Cullen Jr. Vice President,
Legal and Secretary
David DeAugustine Vice President, Taxes
Meg Evangelist Vice President,
Human Resources,
Exelon Power
Robert J Fisher Vice President, Operations
Support, Exelon Nuclear
Jan H. Freeman Vice President, Public
Affairs, Exelon Generation
Dorothy M Hawkins Vice President, Business
Operations, Exelon Nuclear
Christopher Hughes Vice President,
Exelon Power
Theodore E. Jennings Vice President, Engineering
& Operation Support
Marilyn C. Kray Vice President, Project
Development, Exelon Nuclear
Rod Krich Vice President, Licensing
Projects, Exelon Nuclear
William Levis Site Vice President,
Mid-Atlantic Operations,
Exelon Nuclear
Charles P. Lewis Vice President, Strategy
and Development, Exelon
Generation
Richard Lopriore Site Vice President,
Operations Support,
Exelon Nuclear
James P. Malone Vice President, Fuels
Management, Exelon Nuclear
Robert K. McDonald Vice President, Generation
Michael McMahan Vice President, Outage
Planning & Services, Exelon
Nuclear
James R. Meister Vice President, Nuclear
Engineering, Exelon Nuclear
Michael Metzner Vice President, Marketing &
Origination, Exelon Power
Team
J. Barry Mitchell Vice President and
Treasurer
55
Mark A. Schiavoni Vice President, Operations,
Exelon Power
Thomas D. Terry Jr. Vice President, Taxes
Sue E. Wallace Vice President, Management
Projects, Exelon Generation
David B. Wozniak Vice President,
Special Projects, Exelon
Nuclear
George P. Barnes Jr. Site Vice President -
LaSalle County Station
Robert S Bement Site Vice President -
Clinton Nuclear Power
Station
Ronald J. DeGregorio Site Vice President -
Limerick Generating Station
Ernest J. Harkness Site Vice President -
Oyster Creek
Robert J. Hovey Site Vice President -
Dresden Nuclear Power
Station
Stephen E. Kuczynski Site Vice President - Byron
Station
Michael Pacilio Site Vice President -
Braidwood Station
Timothy Tulon Site Vice President -
Quad Cities Nuclear Power
Station
Russell G. West Site Vice President -
Peach Bottom Atomic Power
Station
Bruce C. Williams Site Vice President - TMI
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Christopher J. Bernard Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Generation Consolidation, LLC
Officers
- --------
J. Barry Mitchell President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
56
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Generation Finance Company, LLC
Officers
- --------
John M. Wadson President, Treasurer and
Secretary
Managers
- --------
Gavin R. Arton Manager
J. Michael Collier Jr. Manager
Yolanda F. Pagano Manager
Michael Ricciardi Manager
Exelon Generation International, Inc.
Officers
- --------
No Officers Organizational Meeting
Not Yet Held
Exelon Hamilton LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
57
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Investment Holdings, LLC
Officers
- --------
J. Barry Mitchell President
Thomas R. Miller Vice President and
Treasurer
Thomas D. Terry Jr. Vice President
Charles S. Walls Vice President
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon New Boston, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
58
Exelon New England Development, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon New England Holdings, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon New England Power Marketing, Limited Partnership
59
Other
- --------
- Partnership Does Not Have Officers
Exelon New England Power Services, Inc.
Directors
- --------
Oliver D. Kingsley Jr. Director
Mark A. Schiavoni Director
John F. Young Director
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Peaker Development General, LLC
Officers
- --------
Ian P. McLean President
Michael B. Bemis Vice President
Edward J. Cullen Jr. Vice President and
Secretary
Charles P. Lewis Vice President
J. Barry Mitchell Vice President and
Treasurer
60
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Peaker Development Limited, LLC
Officers
- --------
Ian P. McLean President
Donald J. Bromley Vice President
Edward J. Cullen Jr. Vice President and
Secretary
Charles A. Mannix Vice President, Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Donald J. Bromley Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon PowerLabs, LLC
Officers
- --------
George C Bell President
Frank Cebular Vice President
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
61
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Services Federal Group, Inc.
Directors
- --------
Comment:
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- --------
George H. Gilmore Jr. Chief Executive Officer
Mark W. Kilgore President
Keith A. Derrington Vice President
James Llende Vice President - Taxes
Louis P. Maltezos Vice President
J. Barry Mitchell Vice President
Scott D. Payant Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Other
- -----
62
Keith A. Derrington General Manager
Louis P. Maltezos General Manager
Exelon Services, Inc.
Directors
- ---------
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- ---------
George H. Gilmore Jr. Chairman of the Board
George H. Gilmore Jr. Chief Executive Officer
Mark W. Kilgore President
John T. Kennedy Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
Scott D. Payant Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Other
- ---------
Louis P. Maltezos General Manager
63
Exelon SHC, Inc.
Directors
- ---------
Oliver D. Kingsley Jr. Director
Ian P. McLean Director
John F. Young Director
Officers
- ---------
Oliver D. Kingsley Jr. Chairman
Oliver D. Kingsley Jr. Chief Executive Officer
Oliver D. Kingsley Jr. President
Michael B. Bemis Senior Vice President
John F. Young Senior Vice President
Edward J. Cullen Jr. Vice President
Charles P. Lewis Vice President
Ian P. McLean Vice President
J. Barry Mitchell Treasurer
Donald J. Bromley Secretary
Edward J. Cullen Jr. Secretary
George R. Shicora Assistant Treasurer
Exelon SHC, Inc.
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Synfuel I, LLC
64
Officers
- ---------
Robert A. Kleczynski President
Thomas R. Miller Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Synfuel II, LLC
Officers
- ---------
Robert A. Kleczynski President
Thomas R. Miller Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Thermal Development, Inc.
Directors
- ---------
Carter C. Culver Director
George H. Gilmore Jr. Director
65
Officers
- ---------
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
Exelon Thermal Holdings, Inc.
Directors
- ---------
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- ---------
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
66
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
Exelon Thermal Technologies Inc.
Directors
- ---------
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- ---------
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
David A. Bump General Manager
Exelon Ventures Company, LLC
Officers
- ---------
John W. Rowe President and Chief
Executive Officer
Oliver D. Kingsley Jr. Senior Executive Vice
President
67
Charles P. Lewis Vice President
Robert K. McDonald Vice President, Ventures
Randall E. Mehrberg Vice President and General
Counsel
J. Barry Mitchell Vice President and
Treasurer
Robert S. Shapard Vice President and Chief
Financial Officer
Thomas D. Terry Jr. Vice President, Taxes
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon West Medway Development, LLC
Officers
- ---------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Officers
- ---------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
68
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon West Medway, LLC
Officers
- ---------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Corporate
Secretary
John C. Halderman Assistant Corporate
Secretary
Scott N. Peters Assistant Secretary
Exelon Wyman, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
69
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
ExRES Power Holdings, Inc.
Directors
- --------
Michael B. Bemis Director
Oliver D. Kingsley Jr. Director
Ian P. McLean Director
Officers
- --------
Oliver D. Kingsley Jr. Chairman
Oliver D. Kingsley Jr. President and Chief
Executive Officer
Michael B. Bemis Senior Vice President
Edward J. Cullen Jr. Vice President and
Secretary
Charles P. Lewis Vice President
Ian P. McLean Vice President
J. Barry Mitchell Treasurer
Donald J. Bromley Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
ExRES Power Holdings, Inc.
Scott N. Peters Assistant Secretary
EXRES SHC, Inc.
70
Directors
- ----------
Michael B. Bemis Director
Craig Huff Director
Charles P. Lewis Director
J. Barry Mitchell Director
Daniel Stern Director
John F. Young Director
Gregg Zeitlin Director
Officers
- --------
Michael B. Bemis President
John F. Young Senior Vice President
Donald J. Bromley Vice President
Edward J. Cullen Jr. Vice President
Charles P. Lewis Vice President
Ian P. McLean Vice President
J. Barry Mitchell Treasurer
Donald J. Bromley Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
ExTel Corporation, LLC
Officers
- --------
Duane M. DesParte President
71
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Todd D. Cutler Assistant Secretary
Ronald L. Zack Assistant Secretary
ExTex LaPorte Limited Partnership
Attorney
- Partnership Does Not Have Officers
ExTex Marketing, LLC
Officers
- --------
Ian P. McLean President
Donald J. Bromley Vice President
Kenneth W. Cornew Vice President
Charles A. Mannix Vice President, Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Donald J. Bromley Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
ExTex Power, LP
Attorney
- Partnership Does Not Have Officers
72
ExTex Retail Services Company, LLC
Officers
- --------
Ian P. McLean President
Kenneth W. Cornew Vice President
J. Barry Mitchell Vice President and
Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
F & M Holdings Company LLC
Officers
- --------
George H. Gilmore Jr. President
J. Barry Mitchell Vice President
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Fischbach and Moore Electric, Inc.
Officers
- --------
George H. Gilmore Jr. Chairman
73
George H. Gilmore Jr. Chief Executive Officer
Rick Manville President
Ken Podolack Chief Financial Officer
Jack McHugh Executive Vice President
Esteban F. Alvarez Vice President
William Greene Vice President - Boston
Bob Meyer Vice President - New Jersey
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Ken Podolack Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Esteban F. Alvarez Assistant Secretary
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Rick Manville Assistant Secretary
Scott N. Peters Assistant Secretary
Fischbach and Moore Electrical Contracting, Inc.
Officers
- --------
George H. Gilmore Jr. Chairman
George H. Gilmore Jr. Chief Executive Officer
Rick Manville President
Ken Podolack Chief Financial Officer
Jack McHugh Executive Vice President
Esteban F. Alvarez Vice President
William Greene Vice President - Boston
Bob Meyer Vice President - New Jersey
74
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Ken Podolack Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Esteban F. Alvarez Assistant Secretary
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Rick Manville Assistant Secretary
Scott N. Peters Assistant Secretary
Fischbach and Moore, Inc.
Officers
- --------
George H. Gilmore Jr. Chairman
George H. Gilmore Jr. Chief Executive Officer
Rick Manville President
Ken Podolack Chief Financial Officer
Esteban F. Alvarez Vice President
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Ken Podolack Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Esteban F. Alvarez Assistant Secretary
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Scott N. Peters Assistant Secretary
75
Exelon Fore River Development, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
Franklin Town Towers Associates
Officers
- --------
- Partnership Does Not Have Officers
Horizon Energy Company
Directors
- --------
J. Barry Mitchell Director
Officers
- --------
Paul R. Bonney Vice President and
Secretary
J. Barry Mitchell Vice President and
Treasurer
Todd D. Cutler Assistant Corporate
Secretary
Scott N. Peters Assistant Corporate
Secretary
76
Paul R. Bonney General Counsel
II Services, Inc.
Officers
- --------
George H. Gilmore Jr. Chairman
George H. Gilmore Jr. Chief Executive Officer
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Scott N. Peters Assistant Secretary
Infrasource Field Services, LLC
Officers
- --------
David R. Helwig Chairman
Harvey B. Dikter Senior Vice President,
General Counsel and
Secretary
Terence R. Montgomery Senior Vice President and
Treasurer
Keystone Fuels, LLC
Managers
- --------
Fred Humphrey Manager
La Salle 1 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
La Salle 2 NQF, LLC
Officers
- --------
J. Barry Mitchell President
77
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Limerick 1 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
78
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Limerick 2 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Exelon Mystic Development, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
79
Exelon Mystic, LLC
Officers
- --------
John F. Young President
Mark A. Schiavoni Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
National Energy Development Inc.
Directors
- --------
Craig Huff Director
J. Barry Mitchell Director
Daniel Stern Director
John F. Young Director
Gregg Zeitlin Director
New IP Company
Directors
- ----------
Michael B. Bemis Director
Frank M. Clark Director
Oliver D. Kingsley Jr. Director
80
John W. Rowe Director
Robert S. Shapard Director
Officers
- --------
John W. Rowe Chairman
Michael B. Bemis President
Frank M. Clark Executive Vice President
Randall E. Mehrberg Executive Vice President
J. Barry Mitchell Senior Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
NEWCOSY, Inc.
Officers
- --------
George H. Gilmore Jr. Chairman
George H. Gilmore Jr. Chief Executive Officer
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Scott N. Peters Assistant Secretary
NEWCOTRA, Inc.
Officers
- --------
George H. Gilmore Jr. Chairman
81
George H. Gilmore Jr. Chief Executive Officer
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Scott N. Peters Assistant Secretary
Northwind Aladdin, LLC
Officers
- --------
Scott N. Peters Secretary
Managers
- --------
David A. Bump Manager
Jim A. Pagnusat Manager
Ronald S. Rooth Manager
Northwind Boston, LLC
Officers
- --------
Richard S. Hahn President
Northwind Chicago, LLC
Managers
- --------
David A. Bump Manager
Northwind Las Vegas, LLC
Managers
- --------
82
David A. Bump Manager
Richard Coyle Manager
Scott D. Payant Manager
Pamela B. Strobel Manager
Northwind Midway, LLC
Managers
- --------
David A. Bump Manager
Northwind Thermal Technologies Canada Inc.
Directors
- ----------
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- --------
Last Elected
George H. Gilmore Jr. President
David A. Bump Vice President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
John C. Halderman Assistant Secretary
Scott N. Peters Assistant Secretary
83
Northwind Thermal Technologies Canada Inc.
David A. Bump General Manager
OldcoVSI, Inc.
Officers
- --------
George H. Gilmore Jr. Chairman
George H. Gilmore Jr. Chief Executive Officer
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Scott N. Peters Assistant Secretary
OSP Servicios, S.A. de C.V.
Peach Bottom 1 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Assistant Treasurer
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
84
Peach Bottom 2 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Peach Bottom 3 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
PEC Financial Services, LLC
Officers
- --------
Gregory Golazeski President
85
Yolanda F. Pagano Vice President
George R. Shicora Treasurer
Todd D. Cutler Secretary
Maria D. Conway Assistant Treasurer
Yolanda F. Pagano Assistant Secretary
Managers
- --------
J. Barry Mitchell Manager
Yolanda F. Pagano Manager
George R. Shicora Manager
PECO Energy Capital Corp.
Directors
- ----------
Ruth Ann M. Gillis Director
Suzanne Hay Director
J. Barry Mitchell Director
Officers
- --------
J. Barry Mitchell Chairman, President
Thomas R. Miller Vice President
Thomas R. Miller Treasurer
Todd D. Cutler Secretary
Suzanne Hay Assistant Secretary
PECO Energy Capital Trust III
PECO Energy Capital Trust IV Formed - Not yet organized.
PECO Energy Capital Trust V Formed - Not yet organized.
86
PECO Energy Capital Trust VI Formed - Not yet organized.
PECO Energy Capital, LP
Attorney
- Partnership Does Not Have Officers
PECO Energy Company
Directors
- --------
Michael B. Bemis Director
Oliver D. Kingsley Jr. Director
Denis P. O'Brien Director
John W. Rowe Director
Robert S. Shapard Director
Officers
- --------
Denis P. O'Brien President
J. Barry Mitchell Chief Financial Officer
Craig L. Adams Senior Vice President,
EED Support Services
John T. Hooker Senior Vice President,
Real Estate and Claims
J. Barry Mitchell Senior Vice President
Preston D. Swafford Senior Vice President,
Operations
David W. Woods Senior Vice President,
Government Affairs
Michael N. Beckstead Vice President, Business
Operations
Ellen M. Cavanaugh Vice President,
Transmission Strategy and
Business Operations
87
Lisa Crutchfield Vice President, Regulatory
and External Affairs
Duane M. DesParte Vice President and
Controller
Terence R. Donnelly Vice President,
Construction and
Maintenance
Stephanie J. Hickman Vice President,
Human Resources
Reed R. Horting Vice President, Gas Supply
and Transportation
Susan O. Ivey Vice President,
Transmission Operations
Frank J. Jiruska Vice President, Customer
and Marketing Services
J. Lindsay Johnston Vice President, Human
Resources
Fidel Marquez Jr. Vice President,
Transmission and
Substations
Bruce A. Renwick Vice President, Dispatch
and Operations
J. Barry Mitchell Treasurer
Katherine K. Combs Corporate Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Delia W. Stroud Assistant Corporate
Secretary
PECO Energy Power Company
Phillip S. Barnett Director
Oliver D. Kingsley Jr. Director
John F. Young Director
Officers
- --------
Oliver D. Kingsley Jr. Chairman of the Board
John F. Young President
Edward J. Cullen Jr. Vice President - Legal
J. Barry Mitchell Vice President and
Treasurer
Thomas D. Terry Jr. Vice President, Taxes
88
Katherine K. Combs Secretary
David DeAugustine Assistant Vice President,
Taxes
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Bruce G. Wilson Assistant Secretary
PECO Energy Transition Trust
Trustees
- --------
Thomas R. Miller Trustee
George R. Shicora Trustee
PECO Hyperion Telecommunications
Officers
- --------
- Partnership Does Not Have Officers
PECO Wireless, LP
Attorney
- Partnership Does Not Have Officers
Penesco Company, LLC
Officers
- --------
James P. Malone President
Kevin P. Donovan Vice President
Rod Krich Vice President
89
Kenneth S. Petersen Vice President
J. Barry Mitchell Treasurer
Edward J. Cullen Jr. Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
PHT Holdings, LLC
Officers
- --------
George H. Gilmore Jr. President
Ronald S. Rooth Senior Vice President and
Chief Financial Officer
J. Barry Mitchell Vice President and
Treasurer
James W. Morozzi Vice President
Nicholas G. Stathes Vice President
John C. Halderman Secretary
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Port City Power, LLC
Officers
- --------
Oliver D. Kingsley Jr. President
Edward J. Cullen Jr. Vice President - Legal
Charles P. Lewis Vice President
90
J. Barry Mitchell Vice President and
Treasurer
Preston D. Swafford Vice President
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Thomas H. Weir Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Quad Cities 1 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Quad Cities 2 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
91
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Rand-Bright Corporation
Officers
- --------
George H. Gilmore Jr. Chairman
George H. Gilmore Jr. Chief Executive Officer
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Scott N. Peters Assistant Secretary
Salem 1 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
92
Salem 2 NQF, LLC
Officers
- --------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Scherer Holdings 1, LLC
Officers
- --------
J. Barry Mitchell President
Thomas R. Miller Vice President
Thomas D. Terry Jr. Vice President
Charles S. Walls Vice President
Thomas R. Miller Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Managers
- --------
J. Barry Mitchell Member of Management
Committee
93
Andrew L Stidd Member of Management
Committee
Thomas D. Terry Jr. Member of Management
Committee
Charles S. Walls Member of Management
Committee
Scherer Holdings 2, LLC
Officers
- --------
J. Barry Mitchell President
Thomas R. Miller Vice President
Thomas D. Terry Jr. Vice President
Charles S. Walls Vice President
Thomas R. Miller Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Managers
- --------
J. Barry Mitchell Member of Management
Committee
Andrew L Stidd Member of Management
Committee
Thomas D. Terry Jr. Member of Management
Committee
Charles S. Walls Member of Management
Committee
Scherer Holdings 3, LLC
Officers
- --------
J. Barry Mitchell President
Thomas R. Miller Vice President
Thomas D. Terry Jr. Vice President
94
Charles S. Walls Vice President
Thomas R. Miller Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Managers
- --------
J. Barry Mitchell Member of Management
Committee
Andrew L Stidd Member of Management
Committee
Thomas D. Terry Jr. Member of Management
Committee
Charles S. Walls Member of Management
Committee
Sithe Energies, Inc.
Directors
- ----------
William Kriegel Director and Chair
R. Keith Elliott Director
Guillaume Hannezo Director
Gerald R. Rainey Director
Dickinson M. Smith Director
Kiyoshi Yoshimitsu Director
Officers
- --------
Barry Sullivan Vice Chair
William Kriegel Chief Executive Officer
Thomas Boehlert Chief Financial Officer
Thomas Boehlert Senior Vice President
95
Hyun Park Senior Vice President
Sandra Manilla Vice President and
Treasurer
Hyun Park Secretary
Southeast Chicago Energy Project, LLC
Officers
- --------
Edward J. Cullen Jr. Vice President - Legal
Charles P. Lewis Vice President
J. Barry Mitchell Vice President and
Treasurer
Preston D. Swafford Vice President
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Thomas H. Weir Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Spruce Equity Holdings, LP
Attorney
- Partnership Does Not Have Officers
Spruce Holdings G.P. 2000, LLC
Officers
- --------
J. Barry Mitchell President
Thomas R. Miller Vice President
Thomas D. Terry Jr. Vice President
Charles S. Walls Vice President
Thomas R. Miller Treasurer
96
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Managers
- --------
J. Barry Mitchell Member of Management
Committee
Andrew L. Stidd Member of Management
Committee
Thomas D. Terry Jr. Member of Management
Committee
Charles S. Walls Member of Management
Committee
Spruce Holdings L.P. 2000, LLC
Officers
- --------
J. Barry Mitchell President
Thomas R. Miller Vice President
Thomas D. Terry Jr. Vice President
Charles S. Walls Vice President
Thomas R. Miller Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Managers
- -----------
97
J. Barry Mitchell Member of Management
Committee
Andrew L. Stidd Member of Management
Committee
Thomas D. Terry Jr. Member of Management
Committee
Charles S. Walls Member of Management
Committee
Spruce Holdings Trust
Trustees
- -----------
Wilmington Trust Company Trustee
Susquehanna Electric Company
Directors
- -----------
Phillip S. Barnett Director
Oliver D. Kingsley Jr. Director
John F. Young Director
Officers
- ---------
Oliver D. Kingsley Jr. Chairman of the Board
John F. Young President
Edward J. Cullen Jr. Vice President - Legal
J. Barry Mitchell Vice President and
Treasurer
Thomas D. Terry Jr. Vice President - Taxes
Katherine K. Combs Secretary
David DeAugustine Assistant Vice President,
Taxes
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
98
Susquehanna Electric Company
Scott N. Peters Assistant Secretary
Bruce G. Wilson Assistant Secretary
Susquehanna Power Company
Directors
Phillip S. Barnett Director
Oliver D. Kingsley Jr. Director
John F. Young Director
Officers
- ---------
Oliver D. Kingsley Jr. Chairman of the Board
John F. Young President
Edward J. Cullen Jr. Vice President - Legal
J. Barry Mitchell Vice President and
Treasurer
Thomas D. Terry Jr. Vice President, Taxes
Katherine K. Combs Secretary
David DeAugustine Assistant Vice President,
Taxes
Thomas R. Miller Assistant Treasurer
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Bruce G. Wilson Assistant Secretary
T.H. Green Electric Co., Inc.
Officers
- ---------
George H. Gilmore Jr. Chairman
George H. Gilmore Jr. Chief Executive Officer
99
Ronald S. Rooth Vice President - Finance
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Harvey B. Dikter Assistant Secretary
Scott N. Peters Assistant Secretary
Texas Ohio Gas, Inc.
Directors
---------
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- ---------
Barbara A. Fatina Vice President
Barbara A. Fatina Treasurer
Barbara A. Fatina Secretary
The Proprietors of the Susquehanna Canal
Other
- -----
Gerald R. Rainey Governor
Thermal Chicago Corporation
Directors
- ----------
George H. Gilmore Jr. Director
100
Officers
- ---------
George H. Gilmore Jr. President
J. Barry Mitchell Vice President
Ronald S. Rooth Vice President
J. Barry Mitchell Treasurer
Scott N. Peters Assistant Secretary
Unicom Assurance Company Ltd.
Directors
- -----------
C.F.A. Cooper Director
Odyssefs Drosou Director
Ruth Ann M. Gillis Director
Pamela B. Strobel Director
Officers
- ---------
Ruth Ann M. Gillis President
Glenn D. Newman Vice President
Pamela B. Strobel Vice President
May Coye Secretary
E. John Thompson Assistant Secretary
Unicom Investment Inc.
Directors
- ----------
J. Barry Mitchell Director
Officers
- ---------
J. Barry Mitchell Chairman, President and
Chief Executive Officer
101
Thomas R. Miller Vice President and
Treasurer
J. Barry Mitchell Vice President and
Treasurer
Thomas D. Terry Jr. Vice President
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Unicom Power Holdings Inc.
Directors
- ---------
Carter C. Culver Director
George H. Gilmore Jr. Director
Unicom Power Marketing Inc.
Directors
- ----------
Carter C. Culver Director
George H. Gilmore Jr. Director
Officers
- ---------
George H. Gilmore Jr. President
James Llende Vice President - Taxes
J. Barry Mitchell Vice President
J. Barry Mitchell Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
102
Scott N. Peters Assistant Secretary
Unicom Resources Inc.
Directors
- ---------
J. Barry Mitchell Director
Pamela B. Strobel Director
Officers
- ---------
J. Barry Mitchell Chairman, President
Thomas R. Miller Vice President and
Treasurer
J. Barry Mitchell Vice President and
Treasurer
Thomas D. Terry Jr. Vice President
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
UniGridEnergy, LLC
Universal Network Development Corp.
Wansley Holdings 1, LLC
Officers
- ---------
J. Barry Mitchell President
Thomas R. Miller Vice President
Thomas D. Terry Jr. Vice President
Charles S. Walls Vice President
Thomas R. Miller Treasurer
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Managers
- ---------
J. Barry Mitchell Member of Management
Committee
Andrew L Stidd Member of Management
Committee
Thomas D. Terry Jr. Member of Management
Committee
Charles S. Walls Member of Management
Committee
Wansley Holdings 2, LLC
Officers
- ---------
J. Barry Mitchell President
Thomas R. Miller Vice President
Thomas D. Terry Jr. Vice President
Charles S. Walls Vice President
Thomas R. Miller Treasurer
103
Katherine K. Combs Secretary
George R. Shicora Assistant Treasurer
Charles S. Walls Assistant Treasurer
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Managers
- ---------
J. Barry Mitchell Member of Management
Committee
Andrew L Stidd Member of Management
Committee
Thomas D. Terry Jr. Member of Management
Committee
104
Charles S. Walls Member of Management
Committee
WCB Services, LLC
Zion 1 NQF, LLC
Officers
- ---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
Zion 2 NQF, LLC
Officers
- ---------
J. Barry Mitchell President
Phillip S. Barnett Vice President
J. Barry Mitchell Treasurer
David A. Liskow Secretary
Thomas R. Miller Assistant Treasurer
Charles S. Walls Assistant Treasurer
Edward J. Cullen Jr. Assistant Secretary
Todd D. Cutler Assistant Secretary
Scott N. Peters Assistant Secretary
ITEM 6. OFFICERS AND DIRECTORS - PART II.
105
Financial Connections - The following is a list, as of December 31, 2003, of all
officers and directors of each system company who have financial connections
within the provisions of Section 17(c) of the Public Utility Holding Company Act
of 1935.
1. Edgar D. Jannotta: Member of Board of Directors of Unicom and
ComEd from 1994 through the merger closing; member of Board of
Directors of Exelon since the merger closing, and Chairman of
William Blair & Co., L.L.C., investment banker, Chicago,
Illinois. Authorized pursuant to Rule 70(b).
2. John W. Rogers: Member of Board of Directors of Unicom and ComEd
from 1999 through the merger closing; member of Board of
Directors of Exelon since the merger closing, and member of
Board of Directors of Bank One Corporation, commercial banking
institution, Chicago, Illinois. Authorized pursuant to Rule
70(a).
3. John W. Rowe: Member of Board of Directors of Unicom and ComEd
from 1998 through the merger closing; member of Board of
Directors of Exelon since the merger closing, and member of
Board of Directors of The Northern Trust Company, commercial
banking institution, Chicago, Illinois. Authorized pursuant to
Rule 7(a).
ITEM 6. OFFICER AND DIRECTORS - PART III.
(a), (b) and (c) Directors' and Executive Officers' Compensation, Interests in
Securities and Transactions with System Companies.
Information concerning compensation, interests in system securities, and
transactions with system companies is set forth in Exhibits A.1 and A.2
to this Form U5S and is incorporated herein by reference.
(d) Indebtedness of Directors or Executive Officers to System Companies.
None.
(e) Directors' and Executive Officers' Participation in Bonus and
Profit-Sharing Arrangements and Other Benefits.
See Exhibit A.2 for descriptions of the participation of directors and
executive officers of System companies in bonus and profit-sharing
arrangements and other benefits.
(f) Directors' and Executive Officers' rights to Indemnity.
The state laws under which each of the companies is incorporated provide
broadly for indemnification of directors and officers against claims and
liabilities against them in their capacities as such. Each of the
companies' charters or by-laws also provides for indemnification of
directors and officers. In addition, directors and executive offices of
Exelon and all subsidiary companies are insured under directors' and
officers' liability policies.
ITEM 7. CONTRIBUTIONS AND PUBLIC RELATIONS
106
Item 1. Political Contributions.
None
Several System Companies have established separate segregated funds
known as political action committees, established pursuant to the
Federal Election Campaign Act, in soliciting employee participation in
Federal, state and local elections.
Item 2. Citizens Groups and Public Relations.
Contributions were made to various chambers of commerce, industry
groups, and other groups for civic purposes.
ITEM 8. SERVICE, SALES AND CONSTRUCTION CONTRACTS
Part I. INTERCOMPANY SALES AND SERVICE
Intercompany Sales and Service filed herewith confidentially pursuant
to 17 CFR ss. 250.104 under the Public Utility Holding Company Act of
1935.
Part II. The System companies had no contracts to purchase services or
goods during 2003 from any affiliate (other than a System company) or
from a company, in which any officer or director of the receiving
company is a partner or owns 5 percent of more of any class of equity
securities, except as reported in Item 6.
Part III. The System companies do not employ any other person for the
performance on a continuing basis of management, supervisory or
financial advisory services.
ITEM 9. WHOLESALE GENERATORS AND FOREIGN UTILITY COMPANIES
Required information for investment in wholesale generation and foreign
utility companies as of December 31, 2003.
(a) Company name, business address, facilities and interest held;
(b) Capital invested, recourse debt, guarantees and transfer of
assets and affiliates.
(c) Ratio of debt to common equity and earnings.
(d) Contracts for services, sales or construction with affiliates.
Exelon does not have any investments in foreign utility companies.
Investments in EWGs are addressed below.
Part 1
- ------
1. Sithe Energies, Inc. (Sithe).
----------------------------
a) 335 Madison Avenue, 28th Fl. New York, New York 10017.
Owns and operates power generators in North America with a net
generation capacity of 1,097 MWs with 228Mws under construction.
Genco indirectly owns 50% of Sithe with another entity, with put and
call options that could result in either party owning all of Sithe
outright. While Exelon's intent is to fully divest Sithe, the timing of
the put and call options vary by acquirer and can extend through March
2006.
107
b) Capital invested -
Information on the capital investment is filed herewith confidentially
on Form SE.
Sithe debt for which there is recourse to Exelon or the system
companies None.
Guarantees by the registered holding company: $108 million for equity
and letters of credit.
Transfer of assets from an affiliate to Sithe - None.
c) Ratio of debt to common equity - .52 to 1.
Earnings - Information on earnings is filed herewith confidentially on
Form SE.
d) Contracts with affiliates -
Under a service agreement dated December 18, 2000, Genco provides
certain engineering and environmental services for fossil facilities
owned by Sithe and for certain developmental projects. Generation is
compensated for these services at cost. In 2003, these services
amounted to $1 million.
Under a service agreement dated December 18, 2000, Sithe provides
Generation certain fuel and project development services. Sithe is
compensated for these services at cost. In 2003, Sithe did not
provide these services to Genco.
2. AmerGen Energy Company, L.L.C. (AmerGen)
----------------------------------------
a) 200 Exelon Way, Suite 345 Kennett Square, Pennsylvania 19348.
Owns and operates Clinton Nuclear Power Station, Three Mile Island
Unit No. 1 Nuclear Generating Facility, and Oyster Creek Nuclear
Generation Facility with an aggregate capacity of 2,492 MW. Genco owns
100% of AmerGen.
b) Capital invested - Information on the capital investment is filed
herewith confidentially on Form SE.
AmerGen debt for which there is recourse to Exelon or the system
companies. $65 million
Guarantees by the registered holding company - Genco has agreed to
provide up to $200 million to AmerGen at any time for operating
expenses. Exelon anticipates that Genco's capital expenditures will
be funded by internally generated funds, Genco borrowings or capital
contributions from Exelon.
Transfer of assets from an affiliate to AmerGen - None.
(c) Ratio of debt to common equity - 0.11 to 1.
108
Earnings - Information on earnings is filed herewith confidentially on
Form SE.
(d) Contracts with affiliates -
AmerGen receives services from Exelon Generation including engineering,
regulatory support, systems integration, accounting and general
services. Exelon Generation provides operation and support services to
the nuclear facilities owned by AmerGen pursuant to a Service Agreement
dated as of March 1, 1999. This service agreement has an indefinite
term and may be terminated by Genco or by AmerGen on 90 days notice.
Generation is compensated for these services at cost. Genco provided
AmerGen with services valued at $111 million, pursuant to the Service
Agreement.
Generation entered into PPAs dated June 26, 2003, December 18, 2001 and
November 22, 1999 with AmerGen. Generation agreed to purchase 100% of
the energy generated by Oyster Creek through April 9, 2009. Generation
agreed to purchase from AmerGen all the energy from Unit No. 1 at Three
Mile Island Nuclear Station from January 1, 2002 through December 31,
2014. Generation agreed to purchase all of the residual energy from
Clinton not sold to Illinois Power through December 31, 2004.
Currently, the residual output is approximately 31% of the total output
of Clinton.
3. ExTex LaPorte Limited Partnership (ExTex)
-----------------------------------------
a) 300 Exelon Way, Kennett Square, PA 19348.
ExTex owns a 160-MW peaking plant in LaPorte, Texas, which commenced
operation in 2001.
Exelon Peaker Development Limited, LLC and Exelon Peaker Development
General, LLC. own 99% and 1%, respectively, of ExTex.
On April 25, 2002, Genco acquired two natural-gas and oil-fired plants
from TXU Corp. (TXU) for an aggregate purchase price of $443 million.
The purchase included the 893-megawatt Mountain Creek Steam Electric
Station in Dallas and the 1,441-megawatt Handley Steam Electric Station
in Fort Worth. The transaction included a purchased power agreement for
TXU to purchase power during the months of May through September from
2002 through 2006. During the periods covered by the purchased power
agreement, TXU will make fixed capacity payments, variable expense
payments, and will provide fuel to Exelon in return for exclusive
rights to the energy and capacity of the generation plants.
b) Capital invested - Information on the capital investment is filed
herewith confidentially on Form SE.
ExTex debt for which there is recourse to Exelon or the system
companies - None.
Guarantees by the registered holding company - None.
109
Transfer of assets from an affiliate to ExTex - None.
(c) Ratio of debt to common equity: No debt.
Earnings - Information on earnings is filed herewith confidentially on
Form SE.
(d) Contracts with affiliates -
See a) above for a purchase power agreement.
4. Exelon New England Holdings, LLC
--------------------------------
a) 300 Exelon Way, Kennett Square, PA 19348.
Genco owns indirectly 100.00% of the following Exelon New England
Holdings, LLC EWGs:
Exelon Mystic, LLC
Exelon Mystic Development, LLC
Exelon Fore River Development, LLC
Exelon Wyman, LLC
Exelon Framingham, LLC
Exelon West Medway, LLC
Exelon New Boston, LLC
b) Capital invested - Information on the capital investment is filed
herewith confidentially on Form SE.
On November 1, 2002, Genco purchased the assets of Sithe New England
Holdings, LLC (now Exelon New England Holdings, LLC), a subsidiary of
Sithe, and related power marketing operations. Exelon New England
Holdings, LLC's primary assets are gas-fired facilities currently under
development. The purchase price for the Exelon New England Holdings,
LLC assets consisted of a $534 million note to Sithe, $14 million of
direct acquisition costs and an adjustment to Genco's investment in
Sithe to reflect Sithe's sale of Sithe New England to Genco. Exelon New
England Holdings, LLC owns 3,145 megawatts (MWs) of generation
capacity. In July 2003, Generation commenced the process of an orderly
transition out of the ownership of Boston Generating. This transition
is anticipated to occur in 2004. Sithe New England's generation
facilities are located primarily in Massachusetts.
Debt for which there is recourse to Exelon or the system companies -
None.
Guarantees by the registered holding company -
After construction of the power stations is complete, Genco could be
required to guarantee up to $42 million in order to ensure that the
facilities have adequate funds available for potential outage and
other operating costs and requirements.
Transfer of assets from an affiliate - None.
110
c) Ratio of debt to common equity: Exelon Mystic, LLC has no debt.
Exelon Mystic Development, LLC has no debt. Exelon Fore River
Development, LLC has no debt. Exelon Wyman, LLC has no debt Exelon
Framingham, LLC has no debt Exelon West Medway, LLC has no debt Exelon
New Boston, LLC has no debt. Exelon Boston Generating, LLC a
development company, holds the non-recourse debt, $1.037 billion, of
these companies. Its debt to equity ratio is 7 to 1.
Earnings - Information on earnings is filed herewith confidentially on
Form SE for Exelon Mystic, LLC, Exelon Mystic Development, LLC, Exelon
Fore River Development, LLC, Exelon Wyman, LLC, Exelon Framingham, LLC,
Exelon West Medway, LLC, and Exelon New Boston, LLC .
d) Contracts with affiliates:
Exelon New England Holdings, LLC ("Holdings") receives services from
Exelon Generation including administrative, management, and power
marketing and procurement services pursuant to a Master Services
Agreement dated as of November 1, 2002 ("Master Services Agreement").
Exelon Generation is compensated for these services at cost.
Pursuant to a series of Operating and Maintenance Agreements between
Exelon Boston Services, LLC or Exelon New England Power Services,
Inc.(the "Operators"), on the one hand, and various Holdings EWG or
development subsidiaries, on the other hand, the Operators provide
various operating and maintenance services to such Holdings
subsidiaries. Exelon has announced its intention to exit ownership of
Boston Generating, one of those Holdings subsidiaries. In connection
with Exelon's exit from the ownership of Boston Generating, Exelon
will transfer plant operations and power marketing responsibility,
including ownership of the Operators.
5. Southeast Chicago Energy Project, LLC
a) 300 Exelon Way, Kennett Square, PA 19348.
Owns and operates gas peaking units in Chicago Illinois with a net
generation capacity of 350 MW.
Genco owns 100 % of Southeast Chicago.
b) Capital invested - Information on the capital investment is filed
herewith confidentially on Form SE.
Debt for which there is recourse to Exelon or the system companies -
$51 million.
Guarantees by the registered holding company - None.
Transfer of assets from an affiliate - None.
c) Ratio of debt to common equity - No debt.
Earnings - Information on earnings is filed herewith confidentially on
Form SE.
d) Contracts with affiliates - None.
Part II
- -------
An organization chart showing the relationship of each EWG to other
system companies is included as Exhibit H.
Part III
- --------
Rule 53(a) provides that a registered holding company's aggregate
investment in EWGs and FUCOs may not exceed 50% of its retained
earnings. Exelon was granted partial relief from this rule pursuant to
the December 8, 2000 Order, which provides for a Modified Rule 53 Test
applicable to Exelon's investments in EWGs and FUCOs of $4.0 billion.
At December 31, 2003, Exelon's "aggregate investment" (as defined in
rule 53(a) under PUHCA) in all EWGs and FUCOs was approximately $2.5
billion, and accordingly, at December 31, 2003, Exelon's remaining
investment capacity
111
under the Modified Rule 53 Test was approximately $1.5 billion. At
December 31, 2003, Exelon's "consolidated retained earnings" (as defined
in rule 53(a) under PUHCA) was $2.2 billion.
Ratio of aggregate investment in EWGs and FUCOs to the aggregate capital
investment of the registered holding company in its domestic public
utility subsidiary companies: 30.6%.
ITEM 10. FINANCIAL STATEMENTS AND EXHIBITS
Financial statements for other than Exelon, ComEd, PECO and Genco are filed
herewith confidentially pursuant to 17 CFR ss. 250.104 under the Public Utility
Holding Company Act of 1935.
FINANCIAL STATEMENTS
Exelon Corporation and Subsidiaries
Notes to Financial Statements
Reference is made to "Notes to Consolidated Financial Statements" contained in
the Exelon 2003 Annual Report to Shareholders, which information is incorporated
by reference.
Exelon Corporation and Subsidiary Companies Consolidated Statements of Income
and Comprehensive Income
For the Period Ending December 31, 2003
(in millions)
Commonwealth PECO Exelon
Exelon Edison Energy Generation
Corporation Company Company Company, LLC
Consolidated Consolidated Consolidated Consolidated
Operating revenues
Operating revenues $ 15,812 $ 5,749 $ 4,377 $ 4,010
Intercompany 0 65 11 4,125
- ----------------------------------------------------------------------------------------------------------------------------
Total operating revenues 15,812 5,814 4,388 8,135
- ----------------------------------------------------------------------------------------------------------------------------
Operating expenses
Purchased power 3,459 22 244 3,158
Purchased power from affiliates (0) 2,479 1,433 429
Purchased Power nonconsolidated affiliates 382 -
Fuel 2,534 419 1,533
Impairment of long-lived assets 945 - 945
Operating and maintenance 4,587 957 519 1,796
Services from affiliates - - 149
Operating and maintenance from affiliates 0 136 57
Depreciation and amortization 1,126 386 487 199
Taxes other than income 581 267 173 120
- ----------------------------------------------------------------------------------------------------------------------------
Total operating expenses 13,614 4,247 3,332 8,329
- ----------------------------------------------------------------------------------------------------------------------------
Operating income (loss) 2,198 1,567 1,056 (194)
- ----------------------------------------------------------------------------------------------------------------------------
Other income and deductions
Interest expense net of amounts capitalized (881) (423) (321) (75)
Interest expense to affiliates (0) (3) (13)
Distributions on mandatorily redeemable
preferred securities (39) (26) (8)
Equity in earnings of unconsolidated subsidiaries 33 0 49
Equity in earnings of consolidated companies (0) - 0
Interest income from affiliates (0) 25 0 1
Other, net (187) 24 2 (188)
- ----------------------------------------------------------------------------------------------------------------------------
Total other income and deductions (1,074) (400) (330) (226)
- ----------------------------------------------------------------------------------------------------------------------------
Income (loss) before income taxes and
cumulative effect of changes in
accounting principle 1,124 1,167 726 (420)
Income taxes (331) (465) (253) (179)
- ----------------------------------------------------------------------------------------------------------------------------
Income (loss) before cumulative effect of
changes in accounting principle 793 702 473 (241)
Cumulative effect of changes in
accounting principle 112 5 - (108)
Preferred stock dividends - (5)
- ----------------------------------------------------------------------------------------------------------------------------
Net income (loss) $ 905 $ 707 $ 468 $ (133)
- ----------------------------------------------------------------------------------------------------------------------------
May not add due to rounding
112
Exelon Corporation and Subsidiary Companies Consolidated Statements of Cash Flow
For the Period Ending December 31, 2003
(in millions)
Cash flows from operating activities
- ------------------------------------------------------------------------------- Exelon Commonwealth
Corporation Edison Company
Consolidated Consolidated
Net income $ 905 $ 707
Adjustments to reconcile net income to net cash
flows provided by operating activities:
Depreciation, amortization, accretion, including nuclear fuel 1,718 386
Provision for uncollectible accounts 94 46
Loss (gain) on sale of investments 25 (3)
Cumulative effect of changes in accounting principle (net of income tax) (112) (5)
Deferred income taxes and amortization of investment tax credits (337) 7
Impairment of investments 309
Impairment of goodwill and long-lived assets 990
Loss on sale of investments
Deferred energy costs
Equity in (earnings) losses of unconsolidated affiliates, net (33)
Net realized losses on nuclear decommissioning trust funds 16
Other operating activities 57 64
Changes in assets and liabilities:
Accounts receivable 21 57
Inventories (54) 14
Accounts payable, accrued axpenses and other current liabilities 18 (1)
Pension and non-pension postretirement benefits obligations (144) (48)
Payables to Affiliates (155)
Other current assets (84) (17)
Other noncurrent assets and liabilities (5) (104)
--------------------------------------------
Net cash flows provided by operating activities 3,384 948
--------------------------------------------
Cash flows from investing activities
Capital expenditures (1,954) (712)
Investment in affiliate money pool (405)
Proceeds from liquidating damages 92
Acquisitions of businesses, net of cash received (272)
Dividends from/(Investments in) subsidiaries
Note receivable from affiliate 213
Note receivable from unconsolidated affiliate 35
Proceeds from the sale of investments 263 5
Proceeds from nuclear decommissioning trust fund sales 2,341
Investment in nuclear decommissioning trust funds (2,564)
Change in restricted cash (92) (15)
Other Investing Activities 42 21
--------------------------------------------
Net cash flows used in investing activities (2,109) (893)
--------------------------------------------
Cash flows from financing activities
Change in short-term debt (71)
Change in note payable, affiliate
Issuance of long-term debt 3,015 1,497
Issuance of long-term debt to affiliates
Retirement of long-term debt (2,922) (1,425)
Change in short-term debt (355)
Issuance of long-term debt to financing affiliates 103
Issuance of mandatorily redeemable preferred securities 200 200
Retirement of mandatorily redeemable preferred securities (250) (200)
Payment on acquisition nate payable to Sithe Energies, Inc. (446)
Retirement of preferred stock (50)
Change in restricted cash
Proceeds from employee stock plans 181
Contribution from parent 451
Settlement of cash-flow hedges (45)
Contribution from minority interest of consolidated subsidiary
Dividends paid on preferred and common stock (620) (401)
Distribution to member
Proceeds on Settlement of Interest Rate Swap Agreements
Other financing activities (96) (43)
--------------------------------------------
Net cash flows provided by (used in) financing activities (1,240) (37)
--------------------------------------------
Increase (decrease) in cash and equivalents 35 18
Cash and cash equivalents at beginning of period 469 16
--------------------------------------------
Cash and cash equivalents at end of period 504 34
Cash classified as held for sale on the consolidated balance sheet 11
--------------------------------------------
Cash and cash equivalents at end of period $ 493 $ 34
--------------------------------------------
May not add due to rounding
113
PECO Energy Exelon Generation
Company Company, LLC
Cash flows from operating activities Consolidated Consolidated
Net income $ 473 $ (133)
Adjustments to reconcile net income to net cash
flows provided by operating activities:
Depreciation, amortization, accretion, including nuclear fuel 487 783
Provision for uncollectible accounts 52 (2)
Loss (gain) on sale of investments
Cumulative effect of changes in accounting principle (net of income tax) (108)
Deferred income taxes and amortization of investment tax credits (50) (249)
Impairment of investments 255
Impairment of goodwill and long-lived assets 952
Loss on sale of investments 25
Deferred energy costs (50)
Equity in (earnings) losses of unconsolidated affiliates, net (49)
Net realized losses on nuclear decommissioning trust funds 16
Other operating activities 8 6
Changes in assets and liabilities:
Accounts receivable (24) (71)
Inventories (32) (29)
Accounts payable, accrued axpenses and other current liabilities (38) 11
Pension and non-pension postretirement benefits obligations 9 (50)
Payables to Affiliates (31) 195
Other current assets (2) (35)
Other noncurrent assets and liabilities 12 (64)
-------------------------------------
Net cash flows provided by operating activities 814 1,453
-------------------------------------
Cash flows from investing activities
Capital expenditures (250) (953)
Investment in affiliate money pool
Proceeds from liquidating damages 92
Acquisitions of businesses, net of cash received (272)
Dividends from/(Investments in) subsidiaries
Note receivable from affiliate
Note receivable from unconsolidated affiliate 35
Proceeds from the sale of investments 82
Proceeds from nuclear decommissioning trust fund sales 2,341
Investment in nuclear decommissioning trust funds (2,564)
Change in restricted cash (63)
Other Investing Activities 4 1
-------------------------------------
Net cash flows used in investing activities (246) (1,301)
-------------------------------------
Cash flows from financing activities
Change in short-term debt (154)
Change in note payable, affiliate 87
Issuance of long-term debt 450 1,066
Issuance of long-term debt to affiliates 103
Retirement of long-term debt (718) (570)
Change in short-term debt
Issuance of long-term debt to financing affiliates
Issuance of mandatorily redeemable preferred securities
Retirement of mandatorily redeemable preferred securities (50)
Payment on acquisition nate payable to Sithe Energies, Inc. (446)
Retirement of preferred stock (50)
Change in restricted cash
Proceeds from employee stock plans
Contribution from parent 159
Settlement of cash-flow hedges
Contribution from minority interest of consolidated subsidiary
Dividends paid on preferred and common stock (327)
Distribution to member (189)
Proceeds on Settlement of Interest Rate Swap Agreements
Other financing activities
-------------------------------------
Net cash flows provided by (used in) financing activities (587) (52)
-------------------------------------
Increase (decrease) in cash and equivalents (19) 100
Cash and cash equivalents at beginning of period 63 58
-------------------------------------
Cash and cash equivalents at end of period 44 158
Cash classified as held for sale on the consolidated balance sheet
-------------------------------------
Cash and cash equivalents at end of period $ 44 $ 158
-------------------------------------
May not add due to rounding
114
Exelon Corporation and Subsidiary Companies Consolidated Balance Sheets
For the Period Ending December 31, 2003
(in millions)
Commonwealth PECO Exelon
Exelon Edison Energy Generation
Corporation Company Company Company
Consolidated Consolidated Consolidated Consolidated
Assets
Current assets
Cash and cash equivalents $ 493 $ 34 $ 44 $ 158
Restricted cash 97 20 (0) 75
Accounts receivable, net -
Customer 1,889 683 363 711
Other - A/R 343 68 27 112
Intercompany - A/R (0) 0 -
Nonconsol. Affiliates - A/R - 0 -
Inventories, at average cost
Fossil fuel 212 - 99 98
Intercompany fuel
Materials and supplies 310 43 7 259
Deferred income taxes 474 6 - 445
Note receivable 5
Receivable from affiliates 428 421
Deferred energy costs 81
Notes receivable from affiliates 92 - -
Other 428 31 11 233
Assets held for sale 242 - - 36
------------------------------------------------------------
Total current assets 4,580 1,313 632 2,553
------------------------------------------------------------
Property, plant and equipment, net 20,630 9,096 4,256 7,106
Deferred debits and other assets -
Regulatory assets 5,226 - 5,226 0
Nuclear decommissioning trust funds 4,721 - - 4,721
Investments 837 36 39 65
Investments in affiliates 59
Goodwill, net 4,719 4,719 - 0
Notes receivable from financing trusts 114 2,271 - -
Receivable from affiliates 117 22
Pension asset (0) - 68 79
Deferred income taxes - - - (0)
Other 1,114 457 8 218
Long-term receivable non-consolidated subsidiary - - - -
Assets held for sale - - - -
------------------------------------------------------------
Total deferred debits and other assets 16,731 7,542 5,458 5,105
------------------------------------------------------------
------------------------------------------------------------
Total assets $ 41,941 $ 17,951 $ 10,346 14,764
------------------------------------------------------------
115
Liabilities and member's equity
Current liabilities
Commercial paper $ 326 $ - $ 46 $ -
Notes payable 90 - - 506
Long-term debt due within one year 1,385 236 0 1,068
Long-term debt due to transitional trusts due within one year 470 317 153 -
Accounts payable 1,822 170 92 1,429
Payables to affiliates 207 150 1
Accrued expenses 1,228 540 237 434
Deferred income taxes 0 - 29 -
Customer deposits 78 -
Other 306 9 35 126
Liabilities held for sale 61 - - -
------------------------------------------------------------
Total current liabilities 5,688 1,557 742 3,564
------------------------------------------------------------
Long-term debt 7,889 4,167 1,359 1,649
Long-term debt intercompany 0 - - -
Long-term debt due to transitional trusts 5,055 1,359 3,696 -
Long-term debt due to financing trusts 545 -
Long-term debt to affiliates 361 184 -
Deferred credits and other liabilities -
Regulatory liabilities 1,891 1,891 - (0)
Deferred income taxes 4,357 1,672 2,893 299
Unamortized investment tax credit 288 48 22 218
Asset retirement obligation 2,997 - - 2,996
Pension obligations 1,668 - - 21
Non-pension postretirement benefits obligation 1,053 190 287 555
Spent nuclear fuel obligation 867 - - 867
Other intercompany - 28 - 1,195
Other 1,053 336 147 441
Liabilities held for sale -
------------------------------------------------------------
Total deferred credits and other liabilities 14,174 4,165 3,349 6,592
------------------------------------------------------------
Total liabilities 33,351 11,609 9,330 11,805
------------------------------------------------------------
- - -
116
Minority Interest Total - - 3
Preferred securities of subsidiaries 87 - - -
Common stock 7,292 1,588 1,999 (48)
Other paid-in capital (0) 4,115 - 4,810
Membership interest 0 - - (2,272)
Partnership interest - - - -
Receivable from parent - (250) (1,623) -
Preferred stock - 7 87 -
Deferred compensation - - - -
Retained / undistributed earnings 2,320 883 546 602
Accumulated other comprehensive income (1,109) (1) 7 (136)
------------------------------------------------------------
Total equity 8,503 6,342 1,016 2,956
------------------------------------------------------------
Total liabilities and member's equity $ 41,941 $ 17,951 $ 10,346 $ 14,764
------------------------------------------------------------
117
Exelon Corporation and Subsidiary Companies
Statement of Changes in Shareholder and Member's Retained Earnings
For the period ending December 31, 2003
Exelon Commonwealth PECO Energy Exelon
Corporation Edison Company Company Generation Co,
Consolidated Consolidated Consolidated LLC Consolidated
Balance at the Beginning of the Year $ 2,042 $ 577 $ 401 $ 924
Net Income 905 707 473 (133)
Appropriation of retained earnigs for future dividends (709)
Dividends
Common Stock (625) (401) (322)
Preferred Stock (5)
Distribution to member (189)
Redemption of preferred stock (1)
Other Comprehensive Income, net of tax (2)
-----------------------------------------------------------------------------
Balance at End of Year $ 2,320 $ 174 $ 546 $ 602
=============================================================================
118
EXHIBITS
The following exhibits are incorporated by reference to the indicated SEC file
number, unless an asterisk appears next to the exhibit reference. A single
asterisk indicates exhibits which are filed herewith.
EXHIBIT
NUMBER DESCRIPTION
A. ANNUAL REPORTS FILED UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
A.1 2003 Annual Report on Form 10-K for Exelon, ComEd, PECO and
Generation File Nos. 01-16169, 01-1839, 01-01401 and 333-85496
respectively.
A.2 2003 Proxy Statement of Exelon Corporation. File No. 01-16169.
A.3 Exelon Corporation Form 8-K filed February 20, 2004 containing
Exelon 2003 financial statements, footnotes and management's
discussion and analysis.
B. CHARTERS, ARTICLES OF INCORPORATION, TRUST AGREEMENTS, BY-LAWS, AND OTHER
FUNDAMENTAL DOCUMENTS OF ORGANIZATION
The articles and bylaws of Exelon, ComEd, PECO, PEPCO, SECO, and Genco,
are incorporated by reference to the following:
Exelon 10-K
Exhibit No. Description
3-1 Articles of Incorporation of Exelon Corporation (Registration
Statement No. 333-37082, Form S-4, Exhibit 3-1).
3-2 Amended and Restated Bylaws of Exelon Corporation, adopted
January 27, 2004.
3-3 Amended and Restated Articles of Incorporation of PECO Energy
Company (File No. 1-01401, 2000 Form 10-K, Exhibit 3-3).
3-4 Bylaws of PECO Energy Company, adopted February 26, 1990 and
amended January 26, 1998 (File No. 1-01401, 1997 Form 10-K,
Exhibit 3-2).
3-5 Restated Articles of Incorporation of Commonwealth Edison Company
effective February 20, 1985, including Statements of Resolution
Establishing Series, relating to the establishment of three new
series of Commonwealth Edison Company preference stock known as
the "$9.00 Cumulative Preference Stock," the "$6.875 Cumulative
Preference Stock" and the "$2.425 Cumulative Preference Stock"
(File No. 1-1839, 1994 Form 10-K, Exhibit 3-2).
3-6 Bylaws of Commonwealth Edison Company, effective September 2,
1998, as amended through October 20, 2000 (File No. 1-1839, 2000
Form 10-K, Exhibit 3-6).
3-7 Certificate of Formation of Exelon Generation Company, LLC
(Registration Statement No. 333-85496, Form S-4, Exhibit 3-1).
119
3-8 First Amended and Restated Operating Agreement of Exelon
Generation Company, LLC executed as of January 1, 2001.
3-9 PECO Energy Power Company's Certificate of Organization
and Charter, By-laws amended as of December 23, 1993, and
amendment to Articles of Incorporation filed February 8,
1994, are incorporated herein by reference (1991 Form U5S
and 1993 Form 10-K, File No. 1-1392).
3-10 Susquehanna Power Company's Certificate of Organization is
incorporated herein by reference (1991 Form U5S, File No.
1-1392); By-laws amended December 23, 1993, and Charter
amendment filed February 8, 1994 are incorporated herein
by reference (1993 Form U5S, File No. 1-1392).
3-11 The articles and bylaws of Exelon Delivery, and Ventures
are incorporated herein by reference (2001 Form U5S, File
No. 1-16169).
C. The indentures or other fundamental documents defining the rights of holders
of funded debt listed below are incorporated by reference:
Exelon 10-K
Exhibit No. Description
4-1 First and Refunding Mortgage dated May 1, 1923 between The
Counties Gas and Electric Company (predecessor to PECO Energy
Company) and Fidelity Trust Company, Trustee (First Union
National Bank, successor), (Registration No. 2-2281, Exhibit
B-1).
4-1-1 Supplemental Indentures to PECO Energy Company's First and
Refunding Mortgage:
Dated as of File Reference Exhibit No.
----------------------------- -------------------------------------- -----------------------------
May 1, 1927 2-2881 B-1(c)
March 1, 1937 2-2881 B-1(g)
December 1, 1941 2-4863 B-1(h)
November 1, 1944 2-5472 B-1(i)
December 1, 1946 2-6821 7-1(j)
September 1, 1957 2-13562 2(b)-17
May 1, 1958 2-14020 2(b)-18
March 1, 1968 2-34051 2(b)-24
March 1, 1981 2-72802 4-46
March 1, 1981 2-72802 4-47
December 1, 1984 1-01401, 1984 Form 10-K 4-2(b)
April 1, 1991 1-01401, 1991 Form 10-K 4(e)-76
December 1, 1991 1-01401, 1991 Form 10-K 4(e)-77
June 1, 1992 1-01401, June 30, 1992 4(e)-81
Form 10-Q
March 1, 1993 1-01401, 1992 Form 10-K 4(e)-86
May 1, 1993 1-01401, March 31, 1993 4(e)-88
Form 10-Q
May 1, 1993 1-01401, March 31, 1993 4(e)-89
Form 10-Q
August 15, 1993 1-01401, Form 8-A dated 4(e)-92
August 19, 1993
May 1, 1995 1-01401, Form 8-K dated 4(e)-96
May 24, 1995
September 15, 2002 1-01401, September 30, 2002 4-1
Form 10-Q
October 1, 2002 1-01401, September 30, 2002 4-2
Form 10-Q
April 15, 2003 0-16844, March 31, 2003 4.1
Form 10-Q
----------------------------- -------------------------------------- -----------------------------
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4-2 Exelon Corporation Dividend Reinvestment and Stock Purchase Plan
(Registration Statement No. 333-84446, Form S-3, Prospectus).
4-3 Mortgage of Commonwealth Edison Company to Illinois Merchants
Trust Company, Trustee (BNY Midwest Trust Company, as current
successor Trustee), dated July 1, 1923, as supplemented and
amended by Supplemental Indenture thereto dated August 1, 1944.
(File No. 2-60201, Form S-7, Exhibit 2-1).
4-3-1 Supplemental Indentures to aforementioned Commonwealth Edison
Mortgage.
Dated as of File Reference Exhibit No.
----------------------------- ----------------------------- --------------------------------------
August 1, 1946 2-60201, Form S-7 2-1
April 1, 1953 2-60201, Form S-7 2-1
March 31, 1967 2-60201, Form S-7 2-1
April 1,1967 2-60201, Form S-7 2-1
February 28, 1969 2-60201, Form S-7 2-1
May 29, 1970 2-60201, Form S-7 2-1
June 1, 1971 2-60201, Form S-7 2-1
April 1, 1972 2-60201, Form S-7 2-1
May 31, 1972 2-60201, Form S-7 2-1
June 15, 1973 2-60201, Form S-7 2-1
May 31, 1974 2-60201, Form S-7 2-1
June 13, 1975 2-60201, Form S-7 2-1
May 28, 1976 2-60201, Form S-7 2-1
June 3, 1977 2-60201, Form S-7 2-1
May 17, 1978 2-99665, Form S-3 4-3
August 31, 1978 2-99665, Form S-3 4-3
June 18, 1979 2-99665, Form S-3 4-3
June 20, 1980 2-99665, Form S-3 4-3
April 16, 1981 2-99665, Form S-3 4-3
April 30, 1982 2-99665, Form S-3 4-3
April 15, 1983 2-99665, Form S-3 4-3
April 13, 1984 2-99665, Form S-3 4-3
April 15, 1985 2-99665, Form S-3 4-3
April 15, 1986 33-6879, Form S-3 4-9
June 15, 1990 33-38232, Form S-3 4-12
October 1, 1991 33-40018, Form S-3 4-13
October 15, 1991 33-40018, Form S-3 4-14
May 15, 1992 33-48542, Form S-3 4-14
September 15, 1992 33-53766, Form S-3 4-14
February 1, 1993 1-1839, 1992 Form 10-K 4-14
April 1, 1993 33-64028, Form S-3 4-12
121
April 15, 1993 33-64028, Form S-3 4-13
June 15, 1993 1-1839, Form 8-K dated May 4-1
21, 1993
July 15, 1993 1-1839, Form 10-Q for 4-1
quarter ended June 30,
1993.
January 15, 1994 1-1839, 1993 Form 10-K 4-15
December 1, 1994 1-1839, 1994 Form 10-K 4-16
June 1, 1996 1-1839, 1996 Form 10-K 4-16
March 1, 2002 1-1839, 2001 Form 10-K 4-4-1
May 20, 2002
June 1, 2002
October 7, 2002
January 13, 2003 1-1839, Form 8-K dated 4-4
January 22, 2003
March 14, 2003 1-1839, Form 8-K dated 4-4
April 7, 2003
August 13, 2003 1-1839, Form 8-K dated 4-4
August 25, 2003
----------------------------- ----------------------------- --------------------------------------
4-3-2 Instrument of Resignation, Appointment and Acceptance dated as of
February 20, 2002, under the provisions of the Mortgage dated
July 1, 1923, and Indentures Supplemental thereto, regarding
corporate trustee (File No. 1-1839, 2001 Form 10-K, Exhibit
4-4-2).
4-3-3 Instrument dated as of January 31, 1996, under the provisions of
the Mortgage dated July 1, 1923 and Indentures Supplemental
thereto, regarding individual trustee (File No. 1-1839, 1995 Form
10-K, Exhibit 4-29).
4-4 Indenture dated as of September 1, 1987 between Commonwealth
Edison Company and Citibank, N.A., Trustee relating to Notes
(File No. 1-1839, Form S-3, Exhibit 4-13).
4-4-1 Supplemental Indentures to aforementioned Indenture.
Dated as of File Reference Exhibit No.
----------------------------- ----------------------------- --------------------------------------
September 1, 1987 33-32929, Form S-3 4-16
January 1, 1997 1-1839, 1999 Form 10-K 4-21
September 1, 2000 1-1839, 2000 Form 10-K 4-7-3
--------------------------------------------------------------------------------------------------
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4-5 Indenture dated June 1, 2001 between Generation and First Union
National Bank (now Wachovia Bank, National Association)
(Registration Statement No. 333-85496, Form S-4, Exhibit 4.1).
4-6 Indenture dated December 19, 2003 between Generation and Wachovia
Bank, National Association.
4-7 Indenture to Subordinated Debt Securities dated as of June 24,
2003 between PECO Energy Company, as Issuer, and Wachovia Bank
National Association, as Trustee (File No. 0-16844, PECO Energy
Company Form 10-Q for the quarter ended June 30, 2003, Exhibit
4.1).
4-8 Preferred Securities Guarantee Agreement between PECO Energy
Company, as Guarantor, and Wachovia Trust Company, National
Association, as Trustee, dated as of June 24, 2003 (File No.
0-16844, PECO Energy Company Form 10-Q for the quarter ended June
30, 2003, Exhibit 4.2).
4-9 PECO Energy Capital Trust IV Amended and Restated Declaration of
Trust among PECO Energy Company, as Sponsor, Wachovia Trust
Company, National Association, as Delaware Trustee and Property
Trustee, and J. Barry Mitchell, George R. Shicora and Charles S.
Walls as Administrative Trustees dated as of June 24, 2003 (File
No. 0-16844, PECO Energy Company Form 10-Q for the quarter ended
June 30, 2003, Exhibit 4.3).
- -------------------------------------------------------------------------------
Exelon Generation Company, LLC Form S-4, April 4, 2002, Indenture dated June 1,
2001 between registrant and First Union National Bank (now Wachovia Bank,
National Association)(Registration Statement No. 333-85496, Form S-4, Exhibit
4.1).
Outstanding and Uncompleted Contract or Agreement Entered by the Parent Holding
Company or any Subsidiary Thereof Relating to the Acquisition of any Securities:
On November 25, 2003, Exelon Generation Company, LLC, Reservoir Capital Group
(Reservoir) and Sithe Energies, Inc. completed a series of transactions
resulting in Generation and Reservoir each indirectly owning a 50% interest in
Sithe with put and call options that could result in either party owning Sithe
outright. While Generation's intent is to fully divest Sithe, the timing of the
put and call options vary by acquirer and can extend through March 2006. The
pricing of the put and call options is dependent on numerous factors, such as
the acquirer, date of acquisition and assets owned by Sithe at the time of
exercise. Currently, Sithe has a total generating capacity of 1,097 MWs in
operation and 228 MWs under construction. See 2003 Exelon's Annual Report on
Form 10-K for a further discussion of these transactions.
Exelon Corporation (Exelon) and Exelon Generation Company, LLC (Generation),
have commenced the process of an orderly transition out of the ownership of
Boston Generating, LLC (BG) and the Mystic 8 and 9 and Fore River generating
projects. Exelon's decision to transition out of the projects was made as a
result of its evaluation of the projects and discussions with the lenders under
BG's $1.25 billion credit facility, which was entered into primarily to finance
the development and construction of the generating projects.
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D. TAX ALLOCATION AGREEMENT PURSUANT TO RULE 45(c)
TAX SHARING AGREEMENT
THIS AGREEMENT, dated as of the 1st day of January, 2003, by and between
Exelon Corporation, a Pennsylvania corporation ("Parent"), Exelon Energy
Delivery Company, LLC, a Delaware limited liability company, Exelon Ventures
Company LLC, a Delaware limited liability company, Unicom Investment, Inc., an
Illinois corporation, and Exelon Business Services Company, a Pennsylvania
corporation and each of PECO Energy Company, Commonwealth Edison Corporation,
Exelon Generation Company, LLC, Exelon Enterprises Company, LLC and the
companies listed on Schedule A attached hereto (each a "Subsidiary").
W I T N E S S E T H
WHEREAS, Parent is the common parent corporation of an affiliated group
of corporations within the meaning of Section 1504(a) of the Internal Revenue
Code of 1986, as amended (the "Code");
WHEREAS, the Subsidiaries are each members of that affiliated group or
otherwise have taxable income included directly on the tax return of a member of
the group (i.e. such Subsidiary is treated as a disregarded entity for tax
purposes);
WHEREAS, the members of the affiliated group anticipate filing a
consolidated federal income tax return and combined, consolidated or unitary
state income tax returns where required or where elections to so file have or
will be made;
WHEREAS, Parent and the Subsidiaries wish to agree upon a fair and
equitable method for determining the share of the group's consolidated federal
income tax burdens and benefits properly attributable to each Subsidiary; and
WHEREAS, Parent and the Subsidiaries wish to agree upon a fair and
equitable method for determining the share of any state taxes to be borne by any
members of the Parent Group who file state and local income tax returns (or
other state returns) on a combined, unitary, consolidated or similar basis.
NOW, THEREFORE, in consideration of the premises and of the covenants
and agreements set forth below, the parties, intending to be legally bound,
agree as follows:
Section One: Definitions
For purposes of this Agreement, the terms set forth below shall have
the following meanings:
(a) Affiliated Group: The affiliated group of corporations (within the
meaning Section 1504(a) of the Code) of which Parent is the common
parent.
(b) Code: The Internal Revenue Code of 1986, as amended.
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(c) Computation Period: All Consolidated Return Years to which this
agreement applies.
(d) Consolidated Return: The consolidated federal income tax return of
the Parent Group.
(e) Consolidated Return Year: Any tax return period for which Parent or
any Subsidiary is or may be included in a Consolidated Return filed by
Parent.
(f) Consolidated Tax: The aggregate tax liability for a tax year, being
the tax shown on the consolidated return and any adjustments thereto
thereafter determined.
(g) Corporate Taxable Income: The amount of taxable income or loss of
Subsidiary for a tax year, computed as though such Subsidiary had filed
a separate return on the same basis as used in the Consolidated Return,
except that dividend income from Subsidiaries shall be disregarded, and
other intercompany transactions eliminated in the Consolidated Return
shall be given appropriate effect. It shall be further adjusted to
allow for applicable rights accrued to the Subsidiary under paragraph
(c) (4) of Title 17, Section 250.45 of the Code of Federal Regulations,
on the basis of other tax years, including net operating loss
carrybacks and net operating loss carryforwards to the extent such net
operating loss carryforwards or net operating loss carrybacks would
have been permitted under the Code had the Subsidiary filed a separate
return. If a Subsidiary is a member of the Affiliated Group for only
part of a tax year, that period will be deemed to be its tax year for
all purposes under this Agreement.
(h) Parent Tax Benefit: The excess of the Parent's Separate Return Tax
over the amounts allocated to Parent pursuant to Section 4 (other than
paragraph (c) thereof).
(i) Regulations: The Treasury Regulations promulgated under the Code.
(j) Separate Return Tax: The tax (net of allowable credits) on the
Corporate Taxable Income of Parent or any Subsidiary computed as though
such entity were not a member of a consolidated group. Separate Return
Tax may not be negative.
Section Two: Consolidated Return Election
Parent shall file a Consolidated Return for each taxable period in
respect of which this Agreement is in effect and for which Parent and one or
more of the Subsidiaries are required or permitted to file a consolidated
federal income tax return. Each Subsidiary hereby irrevocably designates Parent
as its agent for the purpose of taking any and all actions necessary or
incidental to the filing of any Consolidated Return, and further agrees to
furnish Parent with any and all information and to take any and all actions as
Parent may reasonably request that is necessary or appropriate for the proper
filing of a Consolidated Return or for implementing the provisions of this
Agreement. Each Subsidiary agrees that it will join in the Consolidated Returns
to the extent that such Subsidiary is required or permitted to do so by the
Code. Entities which are disregarded for federal income tax purposes pursuant to
Section 7701 of the Code and Treas. Reg. ss. 301.7701-2 shall be treated for all
purposes of the Agreement as if they were separate incorporated subsidiaries and
each such entity is included as a "Subsidiary" as that term is used in this
Agreement.
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Section Three: Liability for Consolidated Federal Income Tax
As between the parties hereto Parent agrees to pay the Consolidated Tax
of the Affiliated Group for Consolidated Return Years and each Subsidiary agrees
to make such payments to Parent as shall be required pursuant to Section 5
hereof. The Parent shall at all times be responsible to pay its Separate Return
Tax.
Section Four: Allocation of Consolidated Federal Income Tax Liability
(a) The Consolidated Tax (other than alternative minimum tax) shall be
allocated among the members of the Affiliated Group having a positive Separate
Return Tax as provided below. The allocation of the Consolidated Tax pursuant to
this section is intended to comply with Title 17, Section 250.45(c)(4) of the
Code of Federal Regulation, Section 1552(a)(2) of the Code and Treasury
Regulation Sections 1.1552-1(a)(2) and 1.1502-33(d)(2). In general, such method
allocates Consolidated Tax (other than alternative minimum tax) among
Subsidiaries having positive Separate Return Taxes in accordance with such
positive Separate Return Taxes. Net operating losses of Subsidiaries not having
positive Separate Return Taxes are deemed to be carried over or carried back by
the Subsidiaries to the extent permissible had the Subsidiaries filed separate
returns. Such net operating losses potentially serve to reduce allocations of
Consolidated Tax to such Subsidiaries in subsequent taxable years in which the
Subsidiaries have positive Separate Return Taxes, or to reduce allocations of
Consolidated Tax in prior years in which the Subsidiaries had positive Separate
Return Taxes. Consistently therewith, Consolidated Tax (other than alternative
minimum tax) shall be allocated as follows:
Step 1 - Preliminary Allocation. Each Subsidiary with a positive
Separate Return Tax shall be allocated its share of the Consolidated Tax based
on the ratio which the Separate Return Tax of the Subsidiary bears to the
aggregate Separate Return Tax of all Subsidiaries with a positive Separate
Return Tax.
Step 2 - Adjusting for Net Operating Loss Carrybacks. If a Subsidiary
has negative Corporate Taxable Income for a taxable year in the Computation
Period which, had it filed separate returns, under the rules of the Code could
have been carried back to a prior year in the Computation Period in which it had
positive Corporate Taxable Income (the "Carryback Year"), the Separate Return
Tax of such Subsidiary for the Carryback Year (and, to the extent required, for
subsequent years) shall be recalculated taking such loss carryback into account.
Consolidated Tax for the Carryback Year (and, to the extent required, for
subsequent years) shall be reallocated in accordance with the provisions of this
Section 4.
Step 3 - Allocation Cap. A Subsidiary's allocation of Consolidated Tax
under Step 1 may not exceed the excess if any of (a) the aggregate Separate
Return Tax of the Subsidiary for the Computation Period (including the current
year), determined as if the Subsidiary had filed separate returns, over (b) the
total amount of Consolidated Tax allocated to the Subsidiary for the Computation
Period (except the current year).
Step 4 - Reallocation of Capped Amounts. To the extent that the
Consolidated Tax allocated to a Subsidiary under Step 1 exceeds the limitation
under Step 3, the excess shall be allocated among the remaining Subsidiaries in
proportion to (but not to exceed the amount of) each Subsidiary's excess, if
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any, of (a) the aggregate Separate Return Tax of the Subsidiary for the
Computation Period (including the current year), determined as if the Subsidiary
had filed separate returns, over (b) the total amount of Consolidated Tax
allocated to the Subsidiary for the Computation Period (including for the
current year only the amount allocated under Step 1).
Step 5 - Reallocation of Excess Capped Amounts. Consolidated Tax which
is allocated away from a Subsidiary under Step 3 and is not allocated to other
Subsidiaries under Step 4 shall be allocated to the Parent.
(b) If a consolidated current alternative minimum tax liability exists,
such liability (as well as any associated minimum tax credit) will be allocated
to the members by multiplying the consolidated alternative minimum tax by a
fraction, the numerator of which is the separate adjusted alternative minimum
tax of the member for the year, and the denominator of which is the sum of each
member's separate alternative minimum tax for the year. The allocation of
alternative minimum tax provided for in this paragraph is intended to comply
with the principles set forth in Proposed Regulation Section 1.1502-55.
(c) To the extent there is a Parent Tax Benefit, the amount of such
Parent Tax Benefit shall be allocated to those Subsidiaries who have positive
Separate Return Tax liabilities and correspondingly allocated away from the
Parent. Any such allocation to the Subsidiaries' shall be made among the
Subsidiaries in proportion to the amount of the Subsidiaries' Separate Return
Tax liabilities.
(d) All recapture of previously claimed tax credits shall be assessed
against the member that generated the credits.
(e) Each Subsidiary will be allocated the material effects of any
particular features of the tax laws applicable to them.
Section Five: Payments of Taxes
To the extent any Subsidiary is allocated any share of the Consolidated
Tax under Section 4, such amount shall be paid to the Parent before thirty days
following the earlier of (i) the date on which the Consolidated Return is filed
or (ii) the date, following the close of such taxable year, on which Parent
notifies a Subsidiary of Parent's final determination of the liability of such
Subsidiary. To the extent any Consolidated Tax previously allocated to a
Subsidiary is reallocated to the Parent or another Subsidiary under Section
4(a), Step 2, the Subsidiary to whom the Consolidated Tax was previously
allocated shall be entitled to receive payment from the entity to which the
Consolidated Tax is reallocated under said Section. Payment shall be made within
thirty days of the date on which Parent notifies a Subsidiary of Parent's final
determination of the liability of such Subsidiary.
Section Six: Estimated Tax Payments
For purposes of computing estimated tax payments, the methodology
provided in Section 4 shall be applied on each due date for payments of any
estimated tax under Section 6655 of the Code (or any applicable state or local
tax provision). If the application of such provisions results in a payment due
to the Parent, such Subsidiary shall remit such amount to the Parent within
fifteen days of the due date for payments of estimated tax under Section 6655 of
the Code (or any applicable state or local tax provision). Any estimated tax
127
payments made by a Subsidiary to Parent under this Section 6 for any taxable
year shall be applied to reduce the amount, if any, owing by such Subsidiary to
Parent under Section 5 for that year. If the sum of the payments made by a
Subsidiary under this Section 6 for any taxable year exceeds the amount owing by
such Subsidiary to Parent under Section 5 for that taxable year, Parent shall
repay the excess to Subsidiary within thirty days after the Parent Group's
consolidated federal income return for that year is filed. The same rules shall
apply with respect to estimated tax payments for state and local income taxes
for which the Parent Group or any member of the Parent Group files income tax
returns on a combined, unitary, consolidated or similar basis, taking into
account the provisions of Section Eleven of this Agreement with respect to
determining any Subsidiaries state tax liability for the applicable period.
Section Seven: Carrybacks
(a) In the event that the Consolidated Return shows consolidated net
operating loss (as that term is defined in Section 1.1502-21(f) of the Treasury
Regulations) or a credit against federal income tax for any taxable year and
that consolidated net operating loss or tax credit is carried back to and
absorbed in a prior taxable year of Parent or any member of the Affiliated
Group, then the allocable share of such tax liability for the prior taxable year
shall be recomputed pursuant to Section 4 accordingly, and the amount of the
liabilities and payments determined under this Agreement shall be adjusted to
conform to those recomputations. The determination as to whether a net operating
loss or credit is carried back shall be entirely within the discretion of
Parent.
(b) Parent shall be responsible for carrying out any recomputations
required by Section Seven and shall promptly give each Subsidiary notice of any
conforming adjustment of affected liabilities under Section Four of this
Agreement. Within 10 days following the giving of that notice, each Subsidiary
shall pay Parent or Parent shall pay such Subsidiary, as the case may be, the
amount of any payment due in accordance with Section Five of this Agreement
resulting from any recomputations done in accordance with Section Seven, as
reflected in the notice.
(c) This Agreement shall have no application to the carryback of a net
operating loss or credit from a separate return year (within the meaning of
Section 1.1502-1(e) of the Treasury Regulations) of a Subsidiary or another
affiliated group of which a Subsidiary is a member, as the case may be, to any
taxable year of the Parent group.
Section Eight: Interest
If any payment required to be made pursuant to Section 5, 6, or 7 of
this Agreement is not made within the time periods specified in those Sections,
the delinquent payment shall bear interest from its due date until the date of
actual payment at the rate (or rates) charged by the Internal Revenue Service on
underpayments of tax for the periods in question.
Section Nine: Responsibility for Tax Calculations and Disputes
The tax department of Parent shall be responsible for preparing all
calculations required under this Agreement. The Vice President of Taxes and
General Tax Officer of Exelon shall review and approve each calculation prepared
by the tax department, and shall be responsible for resolving any disputes
regarding such calculations.
128
All disputes regarding application of the procedures set forth in this
Agreement shall be resolved by the Vice President of Taxes and General Tax
Officer of Parent in conjunction with such other members of Parent as he (or
she) shall deem necessary or appropriate.
Section Ten: Effective Date
This Agreement shall be effective for taxable years of the Parent Group
beginning after 2002.
Section Eleven: State Taxes
(a) State and local income taxes (and all other income taxes) shall be
borne by the entity (including entities that are "disregarded entities" for
federal income tax purposes) that incurs such taxes, except as provided below.
(b) For those state and local jurisdictions in which the Parent or any
member of the Parent Group files income tax returns on a combined, unitary,
consolidated or similar basis, (i) the total liability shown on each such return
shall be paid in full by Parent or such member of the Parent Group filing such
combined, unitary or consolidated return; (ii) the tax liability pursuant to
each combined, consolidated or unitary return shall be allocated in a manner
that is consistent with the manner set forth in Section 4, provided however,
that allocations shall be made only to those entities which have nexus to the
applicable state for whom tax is being allocated; and (iii) payments among
members included in any such combined, consolidated or unitary filings of
amounts so allocated shall be made consistently with the provisions of Section
Five. For purposes of this Section 11 only, the terms "Separate Return Tax",
"Consolidated Tax", and "Parent Tax Benefit" as well as any terms used herein to
define such terms shall be interpreted to refer to the applicable combined,
consolidated or unitary tax return for which tax is being allocated.
Section Twelve: Penalties & Interest
(a) Any penalties incurred by the Parent relating to filing the
Consolidated Return shall be specifically assigned to the member(s) of the
Parent Group to whom such penalty is directly attributable (and shall become
part of the Subsidiary's allocable share of the Consolidated Tax liability),
provided however, that penalties shall not be specifically assigned to any
particular Subsidiary if the imposition of such penalty is not directly
attributable to the acts, errors, or omissions of the Subsidiary. Penalties not
specifically assigned pursuant to the previous sentence shall be allocated among
the Parent and Subsidiaries on a pro rata basis in accordance with their
Separate Return Tax liabilities.
(b) Any interest incurred by the Parent related to filing the
Consolidated Return shall be specifically allocated to the Subsidiary to whom
such interest is directly attributable (and shall become part of the
Subsidiary's allocable share of the Consolidated Tax), provided however, that
interest shall not be specifically allocated to any Subsidiary if the imposition
of such interest is not directly attributable to the acts, errors, or omissions
of the Subsidiary. Interest not specifically allocated pursuant to the previous
sentence shall be allocated among the Parent and the Subsidiaries on a pro rata
basis in accordance with their separate tax liabilities.
Section Thirteen: Changes in Parties
(a) New direct or indirect subsidiaries, affiliates and associates of
Parent, which may come into existence after the effective date of this
Agreement, may become additional "Subsidiaries," and become subject to this
Agreement. In addition, entities which are, as of the effective date of this
Agreement, direct or indirect subsidiaries, affiliates and associates of Parent,
may thereafter leave the holding company system, in which case they will no
longer be subject to this Agreement for tax years after their departure.
(b) The addition of a new direct or indirect subsidiary, affiliate or
associate company is intended to be evidenced by the signing of a written
joinder to this Agreement but, notwithstanding the failure of a new subsidiary,
affiliate or associate company to sign a written joinder, the new subsidiary,
affiliate or associate company shall be conclusively deemed to have accepted and
agreed to the terms of this Agreement by reason of its inclusion in Parent's
consolidated Federal income tax return and/or any state and local income tax
returns filed on a combined, unitary, consolidated or similar basis with other
members of the Parent group.
Section Fourteen: Miscellaneous Provisions
(a) This Agreement contains the entire understanding of the parties with
respect to the subject matter of this Agreement. No alteration, amendment, or
129
modification of any of the terms of this Agreement shall be valid unless made by
an instrument signed in writing by an authorized officer of each party.
(b) This Agreement has been made in and shall be construed and enforced
in accordance with the laws of the Commonwealth of Pennsylvania from time to
time in effect.
(c) Notwithstanding any provision of this Agreement to the contrary,
income tax shall be allocated among the parties in a manner consistent with
Title 17, Section 250.45(c)(4) of the Code of Federal Regulations. Under no
circumstances shall the amount of tax liability allocated to or paid by a
Subsidiary under this Agreement during the Computation Period exceed the
aggregate Separate Return Tax for the Subsidiary for the Computation Period
determined as if the Subsidiary had filed separate returns.
(d) This Agreement may be executed simultaneously in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.
(e) All notices and other communications hereunder shall be deemed to
have been duly given if delivered by hand or mailed by certified or registered
mail, postage prepaid:
(i) if to Parent:
10 S. Dearborn Street,
Chicago, Illinois 60603
(ii) if to PECO Energy Company:
2301 Market Street
Philadelphia, Pennsylvania 19103
(iii) if to Exelon Ventures Company, LLC:
10 S. Dearborn Street
Chicago, Illinois 60603
130
(iv) if to Exelon Energy Delivery Company, LLC:
10 S. Dearborn Street
Chicago, Illinois 60603
(v) if to Commonwealth Edison Company
10 S. Dearborn Street
Chicago, Illinois 60603
(vi) if to Unicom Investment, Inc.:
10 S. Dearborn Street
Chicago, Illinois 60603
(vii) if to Exelon Business Services Company:
10 S. Dearborn Street
Chicago, Illinois 60603
(viii) if to Exelon Generation Company, LLC:
300 Exelon Way
Kennett Square, Pennsylvania 19348
(ix) if to Exelon Enterprises Company, LLC:
10 S. Dearborn Street
Chicago, Illinois 60603
(x) if to any other Subsidiary to the address listed for
such Subsidiary on Schedule A.
(f) The headings of the Sections of this Agreement are inserted for
convenience only and shall not constitute a part of the Agreement.
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
duly executed and their respective corporate seals to be affixed hereto, all as
of the date and year first above written.
Exelon Corporation
By: ___________________
Thomas D. Terry, Jr.
Vice President and General Tax Officer
Exelon Business Services Company
By:___________________
Thomas D. Terry, Jr.
Vice President, Taxes
131
Exelon Energy Delivery Company, LLC
By:___________________
Thomas D. Terry, Jr.
Vice President, Taxes
PECO Energy Company
By:___________________
Todd D. Cutler
Assistant Secretary
Exelon Ventures Company, LLC
By:___________________
Thomas D. Terry, Jr.
Vice President, Taxes
Unicom Investment, Inc.
By:___________________
Thomas D. Terry, Jr.
Vice President
Commonwealth Edison Company
By:___________________
Kathryn M. Houtsma
Vice President, Finance
132
Adwin Equipment Company
By:___________________
Todd D. Cutler
Assistant Secretary
Adwin Realty Company
By:____________________
Todd D. Cutler
Assistant Secretary
AllEnergy Gas & Electric Marketing
Company, LLC
By:____________________
Barbara A. Fatina
Vice President
AmerGen Clinton NQF, LLC
By:
Todd D. Cutler
Assistant Secretary of AmerGen
Energy Company, LLC, Member
AmerGen Consolidation, LLC
By:
J. Barry Mitchell
Manager
AmerGen Energy Company, LLC
By:
Todd D. Cutler
Assistant Secretary
AmerGen Oyster Creek NQF, LLC
By:
Todd D. Cutler
Assistant Secretary of AmerGen
Energy Company, LLC, Member
133
AmerGen TMI NQF, LLC
By:
Todd D. Cutler
Assistant Secretary of AmerGen
Energy Company, LLC, Member
AmerGen Vermont, LLC
By:
Todd D. Cutler
Assistant Secretary
ATNP Finance Company
By:____________________
John W. Wadson
President
Cenesco Company, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
ComEd Financing I
By:____________________
J. Barry Mitchell
Trustee
ComEd Financing II
By:____________________
J. Barry Mitchell
Trustee
ComEd Financing III
By:____________________
J. Barry Mitchell
Trustee
134
ComEd Funding, LLC
By:____________________
J. Barry Mitchell
President
ComEd Transitional Funding Trust
By:____________________
J. Barry Mitchell
Trustee
Commonwealth Edison Company of
Indiana, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Commonwealth Research Corporation
By:____________________
Todd D. Cutler
Assistant Secretary
ECP Telecommunications Holdings,
LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Edison Development Canada Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
135
Edison Development Company
By:____________________
Todd D. Cutler
Assistant Secretary
Edison Finance Partnership
By:____________________
Thomas D. Terry, Jr.
President
EEI Telecommunications Holdings, LLC
By:____________________
John M. Wadson
President
EGW Meter Services, LLC
By:____________________
George H. Gilmore Jr.
EIS Engineering, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
EIS Investments, LLC
By:____________________
George H. Gilmore Jr.
Manager
Energy Trading Company
By:____________________
Todd D. Cutler
Assistant Secretary
136
ETT Boston, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
ETT Canada, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
ETT Houston, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
ETT National Power, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
ETT Nevada, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
ETT North America, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
137
Exelon Allowance Management
Company, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon AOG Holding #1, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon AOG Holding #2, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Boston Generating, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Boston Services, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Capital Partners, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Communications Company, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
138
Exelon Communications Holdings, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Energy Company
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Enterprises Company, LLC
By:____________________
James Llende
Vice President - Taxes
Exelon Enterprises Investments, Inc.
By: ____________________
John M. Wadson
President
Exelon Enterprises Management, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon (Fossil) Holdings, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
139
Exelon Edgar, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Framingham, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Framingham Development, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Fore River Development, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Hamilton, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Generation Company, LLC
By:____________________
Thomas D. Terry, Jr.
Vice President, Taxes
Exelon Generation Finance Company
By:____________________
John M. Wadson
President
140
Exelon New Boston, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon New England Holdings, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon New England Power Marketing
Limited Partnership
By:____________________
Todd D. Cutler
Assistant Secretary of Exelon AOG
Holding #1, Inc., General Partner
Exelon Mystic, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Mystic Development, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon New England Development, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
141
Exelon New England Power Services,
Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Peaker Development General,
LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Peaker Development Limited, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon PowerLabs, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Power Holdings, LP
By:____________________
Exelon Services, Inc.
By:____________________
James Llende
Vice President, Taxes
142
Exelon Services Federal Group, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Thermal Development, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Thermal Holdings, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Thermal Technologies, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon West Medway, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon West Medway Expansion, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Exelon Wyman, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
143
ExTel Corporation, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
ExTex Marketing, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
ExTex La Porte Limited Partnership
By:____________________
Todd D. Cutler
Assistant Secretary of
Exelon Peaker Development
General, LLC, General Partner
ExTex Power, LP
By:____________________
Todd D. Cutler
Assistant Secretary of
Exelon Generation Company, General Partner
Fischbach and Moore Electric, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
Fischbach and Moore, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
144
Fischbach and Moore Electrical
Contracting, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
Horizon Energy Company
By:____________________
Todd D. Cutler
Assistant Secretary
InfraSource Environmental Services,
LLC
By:
George H. Gilmore Jr.
InfraSource Field Services,
LLC
By:
George H. Gilmore Jr.
InfraSource Integrated Services, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
NEWCOSY, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
145
NEWCOTRA, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
Northwind
Chicago, LLC
By:____________________
Ronald S. Rooth
Manager
Northwind Midway, LLC
By:____________________
David A. Bump
Manager
Northwind Thermal Technologies
Canada, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
PEC Financial Services, LLC
By:____________________
Todd D. Cutler
Secretary
PECO Energy Capital Corp.
By:____________________
Todd D. Cutler
Secretary
PECO Energy Power Company
By:____________________
Todd D. Cutler
Assistant Secretary
146
PECO Energy Transition Trust
By:____________________
Thomas R. Miller
Trustee
Penesco Company, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
PHT Holdings, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Port City Power, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Rand-Bright Corporation
By:____________________
Harvey B. Dikter
Assistant Secretary
Scherer Holdings 1, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Scherer Holdings 2, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
147
Scherer Holdings 3, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Southeast Chicago Energy Project, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Spruce Holdings G.P. 2000, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Spruce Holdings L.P. 2000, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Susquehanna Electric Company
By:____________________
Todd D. Cutler
Assistant Secretary
Susquehanna Power Company
By:____________________
Todd D. Cutler
Assistant Secretary
148
Texas Ohio Gas, Inc.
By:____________________
Barbara A. Fatina
Secretary
T.H. Green
Electric Company, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
Unicom Power Holdings, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
Unicom Power Marketing, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
Unicom Resources, Inc.
By:____________________
Todd D. Cutler
Assistant Secretary
VSI Group, Inc.
By:____________________
Harvey B. Dikter
Assistant Secretary
Wansley Holdings 1, LLC
By:____________________
Todd D. Cutler
Assistant Secretary
149
Wansley Holdings 2, LLC
By: _____________________________
Todd D. Cutler
Assistant Secretary
SCHEDULE A
Aconite Corporation
Adwin Equipment Company
Adwin Realty Company
AllEnergy Gas & Electric Marketing Company, LLC
AmerGen Consolidation, LLC
AmerGen Clinton NQF, LLC AmerGen Energy Company, LLC AmerGen
TMI NQF, LLC AmerGen Oyster Creek NQF, LLC AmerGen Vermont,
LLC ATNP Finance Company Cenesco Company, LLC Chowns
Communications, Inc. ComEd Financing I ComEd Financing II
ComEd Financing III ComEd Funding, LLC ComEd Transitional
Funding Trust
Commonwealth Edison Company of Indiana, Inc.
Commonwealth Research Corporation
Dacon Corporation
Dashiell Corporation
Dashiell Holdings Corp.
Edison Development Canada Inc.
Edison Development Company
Edison Finance Partnership
ECP Telecommunications Holdings, LLC
EEI Telecommunications Holdings, LLC
EGW Meter Services, LLC
EIS Engineering, Inc.
150
EIS Investments, LLC
Electric Services, Inc.
Energy Trading Company
ETT Boston, Inc.
ETT Canada, Inc.
ETT Houston, Inc.
ETT National Power, Inc.
ETT Nevada, Inc.
ETT North America, Inc.
Exelon AOG Holding #1, Inc.
Exelon AOG Holding #2, Inc.
Exelon Allowance Management Company, LLC
Exelon Boston Services, LLC
Exelon Capital Partners, Inc.
Exelon Communications Holdings, LLC
Exelon Communications Company, LLC
Exelon Edgar, LLC
Exelon Energy Company
Exelon Energy Delivery Company, LLC
Exelon Enterprises Company, LLC
Exelon Enterprises Investments, Inc.
Exelon Enterprises Management, Inc.
Exelon (Fossil) Holdings, Inc.
Exelon Framingham, LLC
Exelon Framingham Development, LLC
Exelon Fore River Development, LLC
Exelon Generation Company, LLC
Exelon Generation Finance Company
Exelon Generation Company International, Inc.
Exelon Hamilton, LLC
Exelon Infrastructure Services of Pennsylvania, Inc.
Exelon Mystic, LLC
Exelon Mystic Development, LLC
Exelon New Boston, Inc.
Exelon New England Development, LLC Exelon New England Power
Marketing Limited Partnership Exelon New England Power
Services, Inc. Exelon Peaker Development General, LLC Exelon
Peaker Development Limited, LLC Exelon Power Holdings, L.P.
Exelon PowerLabs, LLC
Exelon Services, Inc.
Exelon Services Federal Group, Inc.
Exelon Thermal Development, Inc.
Exelon Thermal Holdings, Inc.
Exelon Thermal Technologies, Inc.
151
Exelon West Medway, LLC
Exelon West Medway Expansion, LLC
Exelon Wyman, LLC
ExTel Corporation, LLC
ExTex La Porte Limited Partnership
ExTex Power, LP
Fischbach and Moore Electric, Inc.
Fischbach and Moore Electrical Contracting, Inc.
Fischbach and Moore, Inc.
Gas Distribution Contractors, Inc.
Horizon Energy Company
Infrasource, Inc.
InfraSource Environmental Services, LLC
InfraSource Field Services, LLC
Infrasource Integrated Services, Inc.
International Communications Services, Inc.
M.J. Electric, Inc.
Mechanical Specialties Incorporated
Michigan Trenching Service, Inc.
Mid-Atlantic Pipeliners, Inc.
MRM Technical Group, Inc.
Mueller Distribution Contractors, Inc.
Mueller Energy Services, Inc.
Mueller Pipeliners, Inc.
NEWCOSY, Inc.
NEWCOTRA, Inc.
Northwind Chicago, LLC
Northwind Midway LLC
OSP Consultants, Inc.
OSP, Inc.
OSP Telecom, Inc.
PEC Financial Services, LLC
PECO Energy Company
PECO Energy Capital Corp.
PECO Energy Power Company
PECO Energy Transition Trust
Penesco Company, LLC
PHT Holdings, LLC
Port City Power, LLC
Rand-Bright Corporation
RJE Telecom, Inc.
Scherer Holding 1, LLC
Scherer Holding 2, LLC
Scherer Holding 3, LLC
Southeast Chicago Energy Project, LLC
Spruce Holdings G.P. 2000, LLC
152
Spruce Holdings L.P. 2000, LLC
Sunesys, Inc.
Sunesys of Virginia, Inc.
Susquehanna Electric Company
Susquehanna Power Company
Syracuse Merit Electric, Inc.
Texas Ohio Gas, Inc.
T.H. Green Electric Company, Inc.
Trinity Industries, Inc.
Unicom Power Holdings, Inc.
Unicom Power Marketing, Inc.
Unicom Resources, Inc.
Utility Locate & Mapping Services, Inc.
VSI Group, Inc.
Wansley Holdings 1, LLC
Wansley Holdings 2, LLC
E. COPIES OF OTHER DOCUMENTS PRESCRIBED BY RULE OR ORDER.
None.
F. SCHEDULES SUPPORTING ITEMS OF THE REPORT.
*F.1 The consent of the independent accountants as to their opinion
on Exelon's consolidated financial statements and the footnotes
is included in Exhibit F.1.
*F.2 Supporting plant, depreciation and reserve schedules for
Commonwealth Edison Company and Commonwealth Edison Company of
Indiana, Inc. from FERC Form No. 1 - Annual Report of Major
Electric Utilities, Licensees, and Others as follows, filed
herewith of Form SE:
Summary of Utility Plant and Accumulated Provisions for
Depreciation, Amortization and Depletion
Nuclear Fuel Materials
Electric Plant in Service
Electric Plant Held for Future Use
Construction Work in Progress - Electric
Accumulated Provision for Depreciation of Electric Utility Plant
Non-utility Property
*F.3 Supporting plant, depreciation and reserve schedules for
SECO from FERC Form No. 1 - Annual Report of Major Electric
Utilities, Licensees, and Others and the Annual Report to the
Pennsylvania Public Utility Commission filed herewith on Form
SE.
153
Summary of Utility Plant and Accumulated Provisions for
Depreciation, Amortization and Depletion
Nuclear Fuel Materials
Electric Plant in Service
Electric Plant Held for Future Use
Construction Work in Progress - Electric
Accumulated Provision for Depreciation of Electric Utility Plant
Non-utility Property
Utility Plant and Adjustments
Completed Construction not Classified
Preliminary Retirement Estimates
Accumulated Provision for Depreciation, Amortization, and
Depletion of Plant and Adjustments
*G. ORGANIZATION CHART
(Filed on Form SE)
H. EWG OR FOREIGN UTILITY COMPANY FINANCIAL STATEMENTS
*I.1 AmerGen Energy Company, LLC Financial Statements
Filed confidentially on Form SE.
*I.2 Sithe Energies, Inc. and Subsidiaries Consolidated Financial
Statements
Filed confidentially on Form SE.
*I.3 ExTex LaPorte
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
*I.4 Southeast Chicago Energy Project, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
*I.5 Exelon Mystic Holding, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
*I.6 Exelon Mystic Development, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
*I.7 Exelon ForeRiver Development, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
154
*I.8 Exelon Wyman, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
*I.9 Exelon Framingham, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
*I.10 Exelon West Medway, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
*I.11 Exelon New Boston, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
*I.12 Exelon New England Holding, LLC
Filed confidentially on Form SE, See Item 10, FINANCIAL
STATEMENTS.
SIGNATURE
Exelon Corporation, a registered holding company, has duly caused this annual
report for the year ended December 31, 2003 to be signed on its behalf by the
undersigned thereunto duly authorized, pursuant to the requirements of the
Public Utility Holding Company Act of 1935.
EXELON CORPORATION
By: /S/Robert S. Shapard
---------------------
Robert S. Shapard
Executive Vice President and
Chief Financial Officer
April 30, 2004
155
Exhibit F.1
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in this 2003 Annual Report
on Form U-5S of our report dated January 28, 2004 relating to the financial
statements, which appears in the 2003 Annual Report to Shareholders of Exelon
Corporation, which is incorporated by reference in Exelon Corporation's Annual
Report on Form 10-K for the year ended December 31, 2003. We also consent to the
incorporation by reference of our report dated January 28, 2004 relating to the
financial statement schedule of Exelon Corporation, which appears in such Annual
Report on Form 10-K. We also consent to the incorporation by reference in such
Form U-5S of our reports dated January 28, 2004, relating to the financial
statements and financial statement schedules of Commonwealth Edison Company,
PECO Energy Company, and Exelon Generation Company, LLC (collectively, the
subsidiaries), which appear in the respectively Subsidiaries' Annual Report on
Form 10-K for the year ended December 31, 2003.
PricewaterhouseCoopers
Chicago, Illinois
April 30, 2004
156