UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

June 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
1-1839		COMMONWEALTH EDISON COMPANY (an Illinois corporation) 440 South LaSalle Street Chicago, Illinois 60605-1028 (312) 394-4321		36-0938600

 

 

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 June 30, 2010, Commonwealth Edison Company (ComEd) requested Illinois Commerce Commission (ICC) approval to increase electric distribution rates beginning in June 2011 to allow the utility to continue modernizing its electric delivery system and recover the cost of substantial investments made since the last rate filing in 2007. ComEd has requested an annual increase of $396 million, which if granted, would increase the average residential customer’s monthly electric bill by approximately seven percent. Attached as Exhibits 99.1 and 99.2 to this Current Report on Form 8-K are ComEd’s press release regarding its filing with the ICC and the slide presentation summarizing the details of the electric distribution rate case.

Section 9 – Financial Statements and Exhibits

 

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits.

 

Exhibit No.		Description
99.1		Press Release
99.2		ComEd Electric Distribution Rate Case – Presentation Slides

* * * * *

This combined Form 8-K is being furnished separately by Exelon Corporation and ComEd (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 2009 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 First Quarter 2010 Quarterly Report on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors, (b) Part 1, Financial Information, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 12; 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.

 

June 30, 2010

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EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Press Release
99.2		ComEd Electric Distribution Rate Case – Presentation Slides

Exhibit 99.1

June 30, 2010

Contact:

ComEd Media Relations

(312) 394-3500

ComEd Seeks Rate Increase for Essential Delivery System Modernization Efforts

First request in three years would increase average residential bills by approximately 7 percent

CHICAGO (June 30, 2010) ComEd filed today a rate increase request with the Illinois Commerce Commission (ICC) to allow the utility to continue modernizing its electric delivery system and recover the cost of substantial investments made since the last rate filing in 2007. The requested increase would raise the average $86 residential monthly bill by approximately 7% or less than $6 per month.

“ComEd is making key investments to ensure that our region has a modern and reliable electric system, which is critical to economic development in this state,” said Anne Pramaggiore, president and chief operating officer for ComEd. “This rate filing is a necessary step to continue our ongoing work to provide reliability that is in the top quartile nationally, while keeping rates for our customers comparable to other major metropolitan utilities.”

The ICC will determine any increase in rates after an 11-month proceeding with input from all stakeholders. If approved, new rates would not take effect until June 2011.

ComEd has a number of programs available to customers to offset the proposed rate increase. A monthly bill of $100 can be offset by 20 percent by participating in three ComEd programs: appliance recycling, central air conditioning cycling, and residential lighting programs. Also, ComEd’s assistance program fund continues to help eligible customers manage electric bills. By the end of 2010 ComEd will distribute approximately $10 million to assist consumers through this fund.

System modernization and increased reliability help support economic development.

ComEd is improving system performance by investing in new technologies that will reduce the length and number of outages, including mid-circuit reclosers which allow faster restoration after major storms; increased fire protection to minimize damage to equipment and reduce outages; and mobile dispatch technologies to manage crews more efficiently and communicate more effectively in the field. The company is also investing in innovative smart grid technologies such as smart meters to provide customers with tools to better manage energy use.

These investments are having a positive impact. ComEd now ranks in the top 25 percent among US electric utilities for system reliability. This helps the northern Illinois region offer a more attractive business environment that helps drive economic development.

ComEd’s infrastructure investments also provide a significant boost to the northern Illinois economy. According to a report by the Regional Economic Applications Laboratory at the University of Illinois, ComEd’s annual spending of $1.6 billion has a positive effect on the regional economy equivalent to approximately 20,400 jobs, $1 billion in associated salaries and wages and $3.2 billion in production activity.

 

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Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), one of the nation’s largest electric utilities with approximately 5.4 million customers. ComEd provides service to approximately 3.8 million customers across Northern Illinois, or 70 percent of the state’s population.

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