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

January 30, 2010

Date of Report (Date of earliest event reported)

 

 

 

Commission File Number		Exact Name of Registrant as Specified in Its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone Number		IRS Employer Identification Number
1-16169		EXELON CORPORATION (a Pennsylvania corporation) 10 South Dearborn Street P.O. Box 805379 Chicago, Illinois 60680-5379 (312) 394-7398		23-2990190
333-85496		EXELON GENERATION COMPANY, LLC (a Pennsylvania limited liability company) 300 Exelon Way Kennett Square, Pennsylvania 19348-2473 (610) 765-5959		23-3064219

 

 

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:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

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Section 8 – Other Events

 

Item 8.01.

Other Events.

On January 30, 2010, Exelon Corporation (Exelon) announced that Exelon Generation Company, LLC (Generation) intends to become a member of the FutureGen Alliance (FutureGen), which has been established to help fund a clean coal technology demonstration plant in Mattoon, Illinois. A copy of the Exelon press release is attached as Exhibit 99.1.

The proposed arrangement between Generation and FutureGen is subject to a number of conditions, including the execution of definitive agreements for participation by Generation and other contributing members. The proposed arrangement contemplates that Generation would make phased contributions of up to $32.1 million over a period of up to six years, commencing with the execution of a Cooperative Agreement between FutureGen and the U.S. Department of Energy (DOE) to provide partial funding for the project. Contributing members would have rights to withdraw from participation before a decision is made to start actual construction of the project or if there are insufficient funds to complete the project. Construction of the project is dependent on funding from contributing members, a grant of more than $1 billion from DOE, and financing from other sources.

Section 9 – Financial Statements and Exhibits

 

Item 9.01.

Financial Statements and Exhibits.

 

(d)

Exhibits.

 

Exhibit No.		Description
99.1		Press release

* * * * *

This combined Form 8-K is being furnished separately by Exelon and Generation (Registrants). Information contained herein relating to any individual Registrant has been furnished by such Registrant on its own behalf. No Registrant makes any representation as to information relating to any other Registrant.

This Current Report includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from these forward-looking statements include those discussed herein as well as those discussed in (1) Exelon’s 2008 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 18; (2) Exelon’s Third Quarter 2009 Quarterly Report on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors and (b) Part I, Financial Information, ITEM 1. Financial Statements: Note 14; and (3) other factors discussed in filings with the Securities and Exchange Commission by the Registrants. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Current Report. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this Current Report.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

February 1, 2010

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EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press release

Exhibit 99.1

 

Contacts:		Kathleen Cantillon Exelon Communications 312-394-7417		FOR IMMEDIATE RELEASE

Exelon Announces Intent to Help Fund

Clean Coal Demonstration Plant in Illinois

Chicago-based utility to join FutureGen Alliance

CHICAGO (Jan. 30, 2010) – Exelon Corporation today announced that it intends to join the FutureGen Alliance, a non-profit organization developing a state-of-the-art clean coal demonstration facility to be located in Mattoon, Ill.

“Coal plays an enormously important role in our nation’s energy supply, so it is critical that we explore the most promising technologies for reducing – and even eliminating – harmful emissions at coal-fired power plants,” said John W. Rowe, chairman and CEO, Exelon. “The FutureGen project represents an important opportunity, here in Illinois, to leverage private and public funds and expertise to advance clean coal technologies that may one day help solve climate change.”

Rowe added that the FutureGen project will strengthen industry and government knowledge of advanced technology for producing low-carbon coal power, giving the United States another domestically available tool in the fight against global warming.

Exelon itself is a leader in the energy industry in addressing climate change through Exelon 2020, an environmental and business strategy to reduce, offset or displace more than 15 million metric tons of greenhouse gas emissions per year by 2020. In April 2009, Exelon announced that it had reduced its greenhouse gas emissions by more than 35 percent from 2001 to 2008.

As currently proposed, the FutureGen plant will be a 275-megawatt integrated gasification combined-cycle (IGCC) power plant. The plant will be designed to capture carbon emitted by its operation and store it underground. In addition, the plant will be designed to achieve near-zero emissions of other air pollutants. The U.S. Department of Energy has committed to provide over $1 billion in funding to the project if the details of a public-private partnership can be worked out to the satisfaction of all parties.

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Exelon Corporation is one of the nation’s largest electric utilities with approximately $17 billion in annual revenues. The company has one of the industry’s largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and southeastern Pennsylvania and natural gas to approximately 485,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.