UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
October
2, 2006
Date
of Report (Date of earliest event reported)
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Commission File
Number
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Exact
Name of Registrant as Specified in Its Charter;
State
of Incorporation; Address of Principal Executive Offices;
and
Telephone Number
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IRS
Employer
Identification Number
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1-1839
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COMMONWEALTH
EDISON COMPANY
(an
Illinois corporation)
440
South LaSalle Street
Chicago,
Illinois 60605-1028
(312)
394-4321
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36-0938600
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1-16169
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EXELON
CORPORATION
(a
Pennsylvania corporation)
10
South Dearborn Street - 37th Floor
P.O.
Box 805379
Chicago,
Illinois 60680-5379
(312)
394-7398
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23-2990190
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act
(17 CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Section
8—Other Events
Item
8.01 Other Events.
On
September 14, 2006, the Illinois Commerce Commission (ICC) voted unanimously
to
allow the results of the State’s first auction to procure electric power for
fixed-price customers of Commonwealth Edison Company (ComEd) and other Illinois
utilities to go into effect. New electric rates will apply to electricity usage
beginning on January 2, 2007. The new rates will be the first general rate
increase since 1995. ComEd reduced its rates by 15% for residential customers
in
1998, with an additional 5% reduction during 2001.
On
October 2, 2006, the Speaker of the Illinois House of Representatives (the
“Speaker”) wrote to the Governor of Illinois asking that he convene a special
session of the Illinois General Assembly within seven days to consider
legislation identical in content to House Bill 5766, which would keep the
current electric rate freeze in effect until 2010 (“Rate Freeze Legislation”).
The Speaker asserted that the issue should be addressed before the November
veto
session. In response to the Speaker’s letter, on October 2, 2006 the Governor of
Illinois wrote to the Speaker, the President of the Illinois Senate, and the
Minority Leaders of both houses to inform them that he intended to work with
them to secure sufficient support to pass Rate Freeze Legislation and that
he
would immediately call a special session once they had enough votes to pass
Rate
Freeze Legislation. He also stated that he would call a special session if
they
were unable to reach consensus on Rate Freeze Legislation in the near future.
On
October 2, 2006, Frank M. Clark, ComEd’s Chairman and CEO, issued a statement on
the call for a special session on rate freeze extension legislation. A copy
of
the statement is attached as Exhibit 99 to this Current Report on Form
8-K.
*
* * *
*
This
combined Form 8-K is being filed separately by ComEd and Exelon Corporation
(Exelon) (together, the Registrants). Information contained herein relating
to
any individual Registrant has been filed by such Registrant on its own behalf.
No Registrant makes any representation as to information relating to any other
Registrant.
Forward-Looking
Statements
Except
for the historical information contained herein, certain of the matters
discussed in this Report are forward-looking statements, within the meaning
of
the Private Securities Litigation Reform Act of 1995, which are subject to
risks
and uncertainties. The factors that could cause actual results to differ
materially from the forward-looking statements made by a Registrant include
those factors discussed herein, as well as the items discussed in (a) Exelon’s
2005 Annual Report on Form 10-K—ITEM 1A Risk Factors, (b) Exelon’s 2005 Annual
Report on Form 10-K—ITEM 8 Financial Statements and Supplementary Data:
ComEd—Note 17 and Exelon—Note 20 and (c) other factors discussed in filings with
the SEC by ComEd and Exelon. Readers are cautioned not to place undue reliance
on these forward-looking statements, which apply only as of the date of this
Report. Neither ComEd nor Exelon undertakes any obligation to publicly release
any revision to its forward-looking statements to reflect events or
circumstances after the date of this Report.
Section
9—Financial Statements and Exhibits
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
Exhibit
No. Description
99
ComEd Press Release
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
COMMONWEALTH
EDISON COMPANY
/s/
Robert K.
McDonald
Robert
K. McDonald
Senior
Vice President, Chief Financial Officer
and
Treasurer
EXELON
CORPORATION
&#
160; /s/
John F.
Young
John
F. Young
Executive
Vice
President, Finance and Markets,
and
Chief Financial
Officer Exelon Corporation
October
3, 2006
EXHIBIT
INDEX
Exhibit
No. Description
99 ComEd Press Release
From:
ComEd
Media
Relations October
2,
2006
Chicago,
IL 60680-5379
Contact: 312-394-3500
Statement
from ComEd Chairman and CEO Frank M. Clark on Speaker Madigan’s
Call
for a Special Session on Rate Freeze Extension Legislation
With
the
projected 2007 rate increase, ComEd rates will be lower than they were
in 1995
and lower than almost every other comparable metropolitan center in the
country.
An
extension of the rate freeze, on the other hand, would be very bad for
Illinois.
Such a measure would have severely negative consequences for our state,
our
economy and all consumers. Forcing ComEd into a position where it buys
electricity for more than it is allowed to collect from customers would
immediately threaten the company’s financial stability and put us at risk of
bankruptcy.
Illinois
must have a strong and stable electric system. It is in everyone’s interest to
make sure ComEd has the resources it needs to continue to maintain its
system to
ensure reliable service and meet the growing demands of our state.
ComEd
remains committed to helping our customers adjust to rate increases. Our
CARE
(Customers’ Affordable Reliable Energy) initiative has a number of different
resources to help our customers manage their electricity usage in these
times of
rising energy costs. We also have a proposal before the Illinois Commerce
Commission to allow customers to elect to have the 2007 rate increase phased-in
over three years.
###
Commonwealth
Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE:
EXC), one of the nation’s largest electric utilities with approximately 5.2
million customers and more than $15 billion in annual revenues. ComEd provides
service to approximately 3.7 million customers across Northern Illinois,
or 70
percent of the state’s population.