0001109357-24-000187 | 10-Q | XBRL Viewer

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Statements of Cash Flows (Unaudited) - Pepco - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,813	$ 1,711
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	2,683	2,616
Deferred income taxes and amortization of investment tax credits	102	210
Other non-cash operating activities	441	(237)
Changes in assets and liabilities:
Accounts receivable	(489)	82
Inventories	(57)	(8)
Accounts payable and accrued expenses	(309)	(454)
Collateral paid, net	21	(183)
Income taxes	(18)	50
Regulatory assets and liabilities, net	194	(395)
Pension and non-pension postretirement benefit contributions	(140)	(97)
Other assets and liabilities	(87)	(24)
Net cash flows provided by operating activities	4,143	3,292
Cash flows from investing activities
Capital expenditures	(5,161)	(5,540)
Other investing activities	9	25
Net cash flows used in investing activities	(5,114)	(5,515)
Cash flows from financing activities
Changes in short-term borrowings	(1,093)	(1,116)
Issuance of long-term debt	4,975	5,300
Retirement of long-term debt	(1,336)	(1,209)
Dividends paid on common stock	(1,142)	(1,074)
Other financing activities	(83)	(101)
Net cash flows provided by financing activities	1,103	2,080
Decrease in cash, restricted cash, and cash equivalents	132	(143)
Cash, restricted cash, and cash equivalents at beginning of period	1,101	1,090
Cash, restricted cash, and cash equivalents at end of period	1,233	947
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	6	(169)
Potomac Electric Power Company
Cash flows from operating activities
Net income	323	249
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	307	329
Deferred income taxes and amortization of investment tax credits	22	22
Other non-cash operating activities	(11)	38
Changes in assets and liabilities:
Accounts receivable	(37)	(84)
Receivables from and payables to affiliates, net	1	(2)
Inventories	(10)	(12)
Accounts payable and accrued expenses	61	33
Collateral paid, net	(1)	(26)
Income taxes	(45)	15
Regulatory assets and liabilities, net	(54)	(7)
Pension and non-pension postretirement benefit contributions	(7)	(9)
Other assets and liabilities	(56)	(13)
Net cash flows provided by operating activities	493	533
Cash flows from investing activities
Capital expenditures	(672)	(710)
Changes in PHI intercompany money pool	0	(7)
Other investing activities	0	8
Net cash flows used in investing activities	(672)	(709)
Cash flows from financing activities
Changes in short-term borrowings	(83)	(299)
Issuance of long-term debt	675	350
Retirement of long-term debt	(400)	0
Dividends paid on common stock	(286)	(200)
Contributions from parent	260	308
Other financing activities	(19)	(26)
Net cash flows provided by financing activities	147	133
Decrease in cash, restricted cash, and cash equivalents	(32)	(43)
Cash, restricted cash, and cash equivalents at beginning of period	72	99
Cash, restricted cash, and cash equivalents at end of period	40	56
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	$ (27)	$ (39)

Accounts Receivable - Purchases and Sales of Accounts Receivable (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	$ 3,177	$ 3,124
Commonwealth Edison Co
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	750	726
PECO Energy Co
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	854	843
Baltimore Gas and Electric Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	606	628
Pepco Holdings LLC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	967	927
Potomac Electric Power Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	607	600
Delmarva Power and Light Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	191	174
Atlantic City Electric Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Purchase	$ 169	$ 153

Balance Sheets (Unaudited) - BGE - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616	$ 445
Restricted cash and cash equivalents	552	482
Accounts receivable
Customer accounts receivable	2,971	2,659
Customer allowance for credit losses	(426)	(317)
Customer accounts receivable, net	2,545	2,342
Other accounts receivable	1,226	1,101
Other allowance for credit losses	(111)	(82)
Other accounts receivable, net	1,115	1,019
Inventories, net
Fossil fuel	78	94
Materials and supplies	777	707
Regulatory assets	1,869	2,215
Other	471	473
Total current assets	8,023	7,777
Property, plant and equipment, net	76,661	73,593
Deferred debits and other assets
Regulatory assets	8,657	8,698
Investments	279	251
Other	1,498	1,365
Total deferred debits and other assets	21,386	20,176
Total assets	106,070	101,546
Current liabilities
Short-term borrowings	1,031	2,523
Accrued expenses	1,284	1,375
Customer deposits	432	411
Regulatory liabilities	430	389
Other	569	557
Total current liabilities	7,384	9,591
Long-term debt	43,701	39,692
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	12,551	11,956
Regulatory liabilities	10,563	9,576
Asset retirement obligations	289	267
Non-pension postretirement benefit obligations	528	527
Other	2,287	2,088
Total deferred credits and other liabilities	27,973	26,118
Total liabilities	79,448	75,791
Commitments and contingencies
Shareholders’ equity
Common stock	21,320	21,114
Retained earnings	6,161	5,490
Total shareholders’ equity	26,622	25,755
Total liabilities and shareholders’ equity	106,070	101,546
Related Party
Current liabilities
Accounts payable	5	5
Nonrelated Party
Current liabilities
Accounts payable	2,648	2,846
Baltimore Gas and Electric Company
Current assets
Cash and cash equivalents	330	47
Restricted cash and cash equivalents	0	1
Accounts receivable
Customer accounts receivable	504	527
Customer allowance for credit losses	(60)	(46)
Customer accounts receivable, net	444	481
Other accounts receivable	100	106
Other allowance for credit losses	(6)	(7)
Other accounts receivable, net	94	99
Inventories, net
Fossil fuel	31	35
Materials and supplies	83	74
Prepaid utility taxes	3	56
Regulatory assets	217	229
Other	20	25
Total current assets	1,222	1,047
Property, plant and equipment, net	12,765	12,102
Deferred debits and other assets
Regulatory assets	764	727
Investments	10	9
Prepaid pension asset	230	248
Total deferred debits and other assets	1,051	1,035
Total assets	15,038	14,184
Current liabilities
Short-term borrowings	0	336
Accrued expenses	176	203
Customer deposits	118	114
Regulatory liabilities	17	27
Other	48	9
Total current liabilities	835	1,093
Long-term debt	5,395	4,602
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	2,041	1,945
Regulatory liabilities	681	773
Asset retirement obligations	36	32
Non-pension postretirement benefit obligations	151	158
Other	95	91
Total deferred credits and other liabilities	3,004	2,999
Total liabilities	9,234	8,694
Commitments and contingencies
Shareholders’ equity
Common stock	3,483	3,246
Retained earnings	2,321	2,244
Total shareholders’ equity	5,804	5,490
Total liabilities and shareholders’ equity	15,038	14,184
Baltimore Gas and Electric Company \| Related Party
Current liabilities
Accounts payable	48	35
Baltimore Gas and Electric Company \| Nonrelated Party
Deferred debits and other assets
Other	47	51
Current liabilities
Accounts payable	398	344
Other	$ 78	$ 34

Commitments and Contingencies - Schedule of Accruals for Environmental Matters (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	$ 410	$ 428
Commonwealth Edison Co
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	290	303
PECO Energy Co
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	31	27
Baltimore Gas and Electric Company
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	14	14
Pepco Holdings LLC
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	75	81
Potomac Electric Power Company
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	73	79
Delmarva Power and Light Company
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	1	1
Atlantic City Electric Company
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	1	1
Environmental Remediation
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	328	338
Environmental Remediation \| Commonwealth Edison Co
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	289	302
Environmental Remediation \| PECO Energy Co
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	28	25
Environmental Remediation \| Baltimore Gas and Electric Company
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	11	11
Environmental Remediation \| Pepco Holdings LLC
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	0	0
Environmental Remediation \| Potomac Electric Power Company
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	0	0
Environmental Remediation \| Delmarva Power and Light Company
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	0	0
Environmental Remediation \| Atlantic City Electric Company
Site Contingency [Line Items]
Total environmental investigation and remediation reserve	$ 0	$ 0

Shareholders' Equity (Exelon)	9 Months Ended
Shareholders' Equity (Exelon)	Sep. 30, 2024
Equity [Abstract]
Shareholders' Equity (Exelon)	Shareholders' Equity (Exelon) At-the-Market Program On August 4, 2022, Exelon executed an equity distribution agreement (“Equity Distribution Agreement”), with certain sales agents and forward sellers and certain forward purchasers, establishing an ATM equity distribution program under which it may offer and sell shares of its Common stock, having an aggregate gross sales price of up to $1.0 billion. Exelon has no obligation to offer or sell any shares of Common stock under the Equity Distribution Agreement and may, at any time, suspend or terminate offers and sales under the Equity Distribution Agreement. In the fourth quarter 2023, Exelon issued approximately 3.6 million shares of Common stock at an average gross price of $39.58 per share. In the third quarter 2024, Exelon issued approximately 4.0 million shares of Common Stock at an average gross price of $37.60 per share. The net proceeds from the fourth quarter 2023 and third quarter 2024 issuances were $140 million and $147 million, respectively, which were used for general corporate purposes. As of September 30, 2024, $708 million of Common stock remained available for sale pursuant to the ATM program.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Derivative Financial Instruments - Summary of Notional Amounts of Outstanding Derivative Positions (Details) - Cash Flow Hedging - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
InterestRateSwapNotional5YR
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 602	$ 655
InterestRateSwapNotional10YR
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	603	655
Interest Rate Swap
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Notional Amount	$ 1,205	$ 1,310

Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Change in Contract with Customer, Asset and Liability

The following table provides a rollforward of the contract liabilities reflected in Exelon's, PHI's, Pepco's, DPL's, and ACE's Consolidated Balance Sheets for the three and nine months ended September 30, 2024 and 2023. At September 30, 2024 and December 31, 2023, ComEd's, PECO's, and BGE's contract liabilities were immaterial.



	Exelon(a)		PHI(a)		Pepco(a)		DPL		ACE
Balance at December 31, 2023	$	133	$	133	$	107	$	13	$	13
Revenues recognized	(2)		(2)		(2)		—		—
Balance at March 31, 2024	$	131	$	131	$	105	$	13	$	13
Revenues recognized	(1)		(1)		(1)		—		—
Balance at June 30, 2024	$	130	$	130	$	104	$	13	$	13
Revenues recognized	(2)		(2)		(2)		—		—
Balance at September 30, 2024	$	128	$	128	$	102	$	13	$	13

	Exelon(a)		PHI(a)		Pepco(a)		DPL		ACE
Balance at December 31, 2022	$	101	$	101	$	81	$	10	$	10
Revenues recognized	(1)		(1)		(1)		—		—
Balance at March 31, 2023	$	100	$	100	$	80	$	10	$	10
Revenues recognized	(2)		(2)		(2)		—		—
Balance at June 30, 2023	$	98	$	98	$	78	$	10	$	10
Revenues recognized	(2)		(2)		(1)		—		(1)
Balance at September 30, 2023	$	96	$	96	$	77	$	10	$	9

__________

(a)Revenues recognized in the three and nine months ended September 30, 2024 and 2023, were included in the contract liabilities at December 31, 2023 and 2022, respectively.

Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction

The following table shows the amounts of future revenues expected to be recorded in each year for performance obligations that are unsatisfied or partially unsatisfied as of September 30, 2024. This disclosure only includes contracts for which the total consideration is fixed and determinable at contract inception. The average contract term varies by customer type and commodity but ranges from one month to several years.

This disclosure excludes the Utility Registrants' gas and electric tariff sales contracts and transmission revenue contracts as they generally have an original expected duration of one year or less and, therefore, do not contain any future, unsatisfied performance obligations to be included in this disclosure.


Year	Exelon		PHI		Pepco		DPL		ACE
2024	$	1	$	1	$	1	$	—	$	—
2025	7		7		5		1		1
2026	6		6		5		1		—
2027	5		5		5		—		—
2028 and thereafter	109		109		86		11		12
Total	$	128	$	128	$	102	$	13	$	13

Revenue from Contracts with Customers - Change in Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	$ 130	$ 131	$ 133	$ 98	$ 100	$ 101
Revenues recognized	(2)	(1)	(2)	(2)	(2)	(1)
Ending Balance - Contract Liabilities	128	130	131	96	98	100
Pepco Holdings LLC
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	130	131	133	98	100	101
Revenues recognized	(2)	(1)	(2)	(2)	(2)	(1)
Ending Balance - Contract Liabilities	128	130	131	96	98	100
Potomac Electric Power Company
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	104	105	107	78	80	81
Revenues recognized	(2)	(1)	(2)	(1)	(2)	(1)
Ending Balance - Contract Liabilities	102	104	105	77	78	80
Delmarva Power and Light Company
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	13	13	13	10	10	10
Revenues recognized	0	0	0	0	0	0
Ending Balance - Contract Liabilities	13	13	13	10	10	10
Atlantic City Electric Company
Contract Liabilities [Roll Forward]
Beginning Balance - Contract Liabilities	13	13	13	10	10	10
Revenues recognized	0	0	0	(1)	0	0
Ending Balance - Contract Liabilities	$ 13	$ 13	$ 13	$ 9	$ 10	$ 10

Changes in Accumulated Other Comprehensive Income - Schedule of Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended					9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	$ 26,152	$ 25,755	$ 25,079	$ 25,066	$ 24,744	$ 25,755	$ 24,744
Other comprehensive income (loss), net of income taxes	(24)	14	34	9	(1)	(10)	42
Ending balance	26,622	26,061	25,470	25,079	25,066	26,622	25,470
Gains (Losses) on Cash Flow Hedges
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	27	(3)	17		2	(3)	2
OCI before reclassifications	(28)		22			4	37
Amounts reclassified from AOCI	(1)		(1)			(3)	(1)
Other comprehensive income (loss), net of income taxes	(29)		21			1	36
Ending balance	(2)		38	17		(2)	38
Pension and Non-Pension Postretirement Benefit Plan Items
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	(739)	(723)	(647)		(640)	(723)	(640)
OCI before reclassifications	0		(3)			(26)	(16)
Amounts reclassified from AOCI	5		16			15	22
Other comprehensive income (loss), net of income taxes	5		13			(11)	6
Ending balance	(734)		(634)	(647)		(734)	(634)
Total
Movement in Accumulated Other Comprehensive Income [Roll Forward]
Beginning balance	(712)	(726)	(630)	(639)	(638)	(726)	(638)
OCI before reclassifications	(28)		19			(22)	21
Amounts reclassified from AOCI	4		15			12	21
Other comprehensive income (loss), net of income taxes	(24)	14	34	9	(1)	(10)	42
Ending balance	$ (736)	$ (712)	$ (596)	$ (630)	$ (639)	$ (736)	$ (596)

- Definition

Amount after tax, before reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

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-Name Accounting Standards Codification
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+ Details

- Definition

Amount after tax of reclassification adjustments of other comprehensive income (loss).

+ References + Details

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

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+ Details

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - PHI - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Revenues from alternative revenue programs	$ (54)	$ 108	$ (29)	$ 513
Total operating revenues	6,154	5,980	17,557	16,360
Operating expenses
Operating and maintenance	1,275	1,187	3,756	3,535
Depreciation and amortization	908	890	2,681	2,616
Taxes other than income taxes	395	383	1,127	1,063
Total operating expenses	4,961	4,857	14,348	13,429
Operating income	1,196	1,123	3,221	2,931
Other income and (deductions)
Interest expense, net	(490)	(431)	(1,428)	(1,259)
Other, net	57	81	196	331
Total other income and (deductions)	(439)	(356)	(1,250)	(946)
Income before income taxes	757	767	1,971	1,985
Income taxes	50	67	158	274
Net income	707	700	1,813	1,711
Comprehensive income	683	734	1,803	1,753
Pepco Holdings LLC
Operating revenues
Revenues from alternative revenue programs	8	(15)	40	59
Total operating revenues	1,862	1,773	4,938	4,615
Operating expenses
Operating and maintenance	275	288	780	815
Depreciation and amortization	235	257	716	741
Taxes other than income taxes	140	134	395	366
Total operating expenses	1,439	1,440	3,977	3,864
Operating income	423	333	961	751
Other income and (deductions)
Interest expense, net	(95)	(80)	(279)	(238)
Other, net	22	28	79	80
Total other income and (deductions)	(73)	(52)	(200)	(158)
Income before income taxes	350	281	761	593
Income taxes	72	49	158	103
Net income	278	232	603	490
Comprehensive income	278	232	603	490
Pepco Holdings LLC \| Related Party
Operating revenues
Operating revenues from affiliates	3	2	7	7
Operating expenses
Operating and maintenance from affiliates	47	51	147	137
Electricity, US Regulated
Operating revenues
Electric operating revenues	6,012	5,684	16,379	14,579
Operating expenses
Purchased power and/or fuel	2,349	2,364	6,483	5,766
Electricity, US Regulated \| Pepco Holdings LLC
Operating revenues
Electric operating revenues	1,828	1,762	4,769	4,399
Operating expenses
Purchased power and/or fuel	735	701	1,895	1,729
Natural Gas, US Regulated
Operating revenues
Electric operating revenues	196	188	1,207	1,268
Operating expenses
Purchased power and/or fuel	34	33	301	449
Natural Gas, US Regulated \| Pepco Holdings LLC
Operating revenues
Electric operating revenues	23	24	122	150
Operating expenses
Purchased power and/or fuel	$ 7	$ 9	$ 44	$ 76

Consolidated Balance Sheets - ComEd (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accumulated depreciation and amortization	$ 18,227	$ 17,251
Commonwealth Edison Co
Accumulated depreciation and amortization	$ 7,663	$ 7,222

Changes in Accumulated Other Comprehensive Income (Exelon)

9 Months Ended

Sep. 30, 2024

Changes in Accumulated Other Comprehensive Income [Abstract]

Changes in Accumulated Other Comprehensive Income

Changes in Accumulated Other Comprehensive Income (Loss) (Exelon)

The following table presents changes in Exelon's AOCI, net of tax, by component:


Three Months Ended September 30, 2024	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items(a)		Total
Balance at June 30, 2024	$	27	$	(739)	$	(712)
OCI before reclassifications	(28)		—		(28)
Amounts reclassified from AOCI	(1)		5		4
Net current-period OCI	(29)		5		(24)
Balance at September 30, 2024	$	(2)	$	(734)	$	(736)


Three Months Ended September 30, 2023	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items(a)		Total
Balance at June 30, 2023	$	17	$	(647)	$	(630)
OCI before reclassifications	22		(3)		19
Amounts reclassified from AOCI	(1)		16		15
Net current-period OCI	21		13		34
Balance at September 30, 2023	$	38	$	(634)	$	(596)


Nine Months Ended September 30, 2024	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items(a)		Total
Balance at December 31, 2023	$	(3)	$	(723)	$	(726)
OCI before reclassifications	4		(26)		(22)
Amounts reclassified from AOCI	(3)		15		12
Net current-period OCI	1		(11)		(10)
Balance at September 30, 2024	$	(2)	$	(734)	$	(736)


Nine Months Ended September 30, 2023	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items(a)		Total
Balance at December 31, 2022	$	2	$	(640)	$	(638)

OCI before reclassifications	37		(16)		21
Amounts reclassified from AOCI	(1)		22		21
Net current-period OCI	$	36	$	6	$	42
Balance at September 30, 2023	$	38	$	(634)	$	(596)

__________

(a)This AOCI component is included in the computation of net periodic pension and OPEB cost. See Note 14 — Retirement Benefits of the 2023 Form 10-K and Note 7 — Retirement Benefits for additional information. See Exelon's Statements of Operations and Comprehensive Income for individual components of AOCI.

The following table presents Income tax benefit (expense) allocated to each component of Exelon's Other comprehensive income (loss):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Pension and non-pension postretirement benefit plans:

Actuarial losses reclassified to periodic benefit cost	$	(2)	$	(5)	$	(6)	$	(7)
Pension and non-pension postretirement benefit plans valuation adjustments	—		1		8		5
Unrealized gains on cash flow hedges	10		(7)		—		(11)

Consolidated Statements of Changes in Shareholders Equity (Unaudited) - Exelon - USD ($) shares in Thousands, $ in Millions	Total	Common Stock	Treasury Stock, Common	Retained Earnings	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance (in shares) at Dec. 31, 2022	995,830
Beginning balance at Dec. 31, 2022	$ 24,744	$ 20,908	$ (123)	$ 4,597	$ (638)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 669			669
Long -Term Incentive Plan Activity (shares)	306
Long-Term Incentive Plan Activity	$ 1	1
Employee stock purchase plan issuances (shares)	266
Employee stock purchase plan issuances	$ 12	12
Common stock dividends	(359)			(359)
Other comprehensive income (loss), net of income taxes	$ (1)				(1)
Ending balance (in shares) at Mar. 31, 2023	996,402
Ending balance at Mar. 31, 2023	$ 25,066	20,921	(123)	4,907	(639)
Beginning balance (in shares) at Dec. 31, 2022	995,830
Beginning balance at Dec. 31, 2022	$ 24,744	20,908	(123)	4,597	(638)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,711
Issuance of common stock	0
Other comprehensive income (loss), net of income taxes	$ 42				42
Ending balance (in shares) at Sep. 30, 2023	997,270
Ending balance at Sep. 30, 2023	$ 25,470	20,956	(123)	5,233	(596)
Beginning balance (in shares) at Mar. 31, 2023	996,402
Beginning balance at Mar. 31, 2023	$ 25,066	20,921	(123)	4,907	(639)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 343			343
Long -Term Incentive Plan Activity (shares)	372
Long-Term Incentive Plan Activity	$ 9	9
Employee stock purchase plan issuances (shares)	278
Employee stock purchase plan issuances	$ 11	11
Common stock dividends	(359)			(359)
Other comprehensive income (loss), net of income taxes	$ 9				9
Ending balance (in shares) at Jun. 30, 2023	997,052
Ending balance at Jun. 30, 2023	$ 25,079	20,941	(123)	4,891	(630)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 700			700
Long -Term Incentive Plan Activity (shares)	84
Long-Term Incentive Plan Activity	$ 3	3
Employee stock purchase plan issuances (shares)	302
Employee stock purchase plan issuances	$ 12	12
Common stock dividends	(358)			(358)
Other comprehensive income (loss), net of income taxes	$ 34				34
Ending balance (in shares) at Sep. 30, 2023	997,270
Ending balance at Sep. 30, 2023	$ 25,470	20,956	(123)	5,233	(596)
Beginning balance (in shares) at Dec. 31, 2023	1,001,249
Beginning balance at Dec. 31, 2023	$ 25,755	21,114	(123)	5,490	(726)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 658			658
Long -Term Incentive Plan Activity (shares)	333
Long-Term Incentive Plan Activity	$ 2	2
Employee stock purchase plan issuances (shares)	276
Employee stock purchase plan issuances	$ 13	13
Common stock dividends	(381)			(381)
Other comprehensive income (loss), net of income taxes	$ 14				14
Ending balance (in shares) at Mar. 31, 2024	1,001,858
Ending balance at Mar. 31, 2024	$ 26,061	21,129	(123)	5,767	(712)
Beginning balance (in shares) at Dec. 31, 2023	1,001,249
Beginning balance at Dec. 31, 2023	$ 25,755	21,114	(123)	5,490	(726)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,813
Issuance of common stock	148
Other comprehensive income (loss), net of income taxes	$ (10)				(10)
Ending balance (in shares) at Sep. 30, 2024	1,006,666
Ending balance at Sep. 30, 2024	$ 26,622	21,320	(123)	6,161	(736)
Beginning balance (in shares) at Mar. 31, 2024	1,001,858
Beginning balance at Mar. 31, 2024	$ 26,061	21,129	(123)	5,767	(712)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 448			448
Long -Term Incentive Plan Activity (shares)	76
Long-Term Incentive Plan Activity	$ 11	11
Employee stock purchase plan issuances (shares)	396
Employee stock purchase plan issuances	$ 12	12
Common stock dividends	$ (380)			(380)
Ending balance (in shares) at Jun. 30, 2024	1,002,330
Ending balance at Jun. 30, 2024	$ 26,152	21,152	(123)	5,835	(712)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 707			707
Long -Term Incentive Plan Activity (shares)	7
Long-Term Incentive Plan Activity	$ 7	7
Employee stock purchase plan issuances (shares)	349
Employee stock purchase plan issuances	$ 13	13
Issuance of common stock	148	148
Common stock dividends	(381)			(381)
Other comprehensive income (loss), net of income taxes	$ (24)				(24)
Ending balance (in shares) at Sep. 30, 2024	1,006,666
Ending balance at Sep. 30, 2024	$ 26,622	$ 21,320	$ (123)	$ 6,161	$ (736)

Related Party Transactions - Long Term Debt to Financing Trusts (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Long-term debt to financing trusts	$ 390	$ 390
ComEd Financing III
Related Party Transaction [Line Items]
Long-term debt to financing trusts	206	206
PECO Trust III
Related Party Transaction [Line Items]
Long-term debt to financing trusts	81	81
PECO Trust IV
Related Party Transaction [Line Items]
Long-term debt to financing trusts	103	103
Related Party
Related Party Transaction [Line Items]
Long-term debt to financing trusts	390	390
Commonwealth Edison Co \| ComEd Financing III
Related Party Transaction [Line Items]
Long-term debt to financing trusts	206	205
Commonwealth Edison Co \| PECO Trust III
Related Party Transaction [Line Items]
Long-term debt to financing trusts	0	0
Commonwealth Edison Co \| PECO Trust IV
Related Party Transaction [Line Items]
Long-term debt to financing trusts	0	0
Commonwealth Edison Co \| Related Party
Related Party Transaction [Line Items]
Long-term debt to financing trusts	206	205
PECO Energy Co \| ComEd Financing III
Related Party Transaction [Line Items]
Long-term debt to financing trusts	0	0
PECO Energy Co \| PECO Trust III
Related Party Transaction [Line Items]
Long-term debt to financing trusts	81	81
PECO Energy Co \| PECO Trust IV
Related Party Transaction [Line Items]
Long-term debt to financing trusts	103	103
PECO Energy Co \| Related Party
Related Party Transaction [Line Items]
Long-term debt to financing trusts	$ 184	$ 184

Derivative Financial Instruments - Summary of Economic Hedges (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) on Derivatives	$ (1)	$ (21)
Interest Rate Cap \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) on Derivatives	0	(20)
Interest Rate Cap \| Not Designated as Hedging Instrument, Economic Hedge [Member] \| Electric Operating Revenues
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) on Derivatives	0	(21)
Interest Rate Cap \| Not Designated as Hedging Instrument, Economic Hedge [Member] \| Interest Expense
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Unrealized Gain (Loss) on Derivatives	$ 0	$ 1

- Definition

The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.

+ References + Details

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

PHI Merger Commitments

The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligations for Exelon, PHI, Pepco, DPL, and ACE at September 30, 2024:


Description	Exelon		PHI		Pepco		DPL		ACE
Total commitments	$	513	$	320	$	120	$	89	$	111
Remaining commitments(a)	30		27		24		2		1

__________

(a)Remaining commitments extend through 2026 and include escrow funds, charitable contributions, and rate credits.

Commercial Commitments

The Registrants’ commercial commitments at September 30, 2024, representing commitments potentially triggered by future events, were as follows:


			Expiration within
	Total		2024		2025		2026		2027		2028		2029 and beyond
Exelon
Letters of credit(a)	$	54	$	11	$	43	$	—	$	—	$	—	$	—
Surety bonds(b)	195		86		107		—		2		—		—
Financing trust guarantees(c)	378		—		—		—		—		78		300
Guaranteed lease residual values(d)	26		—		2		5		4		6		9
Total commercial commitments	$	653	$	97	$	152	$	5	$	6	$	84	$	309

ComEd
Letters of credit(a)	$	17	$	4	$	13	$	—	$	—	$	—	$	—
Surety bonds(b)	36		5		29		—		2		—		—
Financing trust guarantees(c)	200		—		—		—		—		—		200
Total commercial commitments	$	253	$	9	$	42	$	—	$	2	$	—	$	200

PECO
Letters of credit(a)	$	4	$	—	$	4	$	—	$	—	$	—	$	—
Surety bonds(b)	2		—		2		—		—		—		—
Financing trust guarantees(c)	178		—		—		—		—		78		100
Total commercial commitments	$	184	$	—	$	6	$	—	$	—	$	78	$	100

BGE
Letters of credit(a)	$	27	$	6	$	21	$	—	$	—	$	—	$	—
Surety bonds(b)	3		1		2		—		—		—		—
Total commercial commitments	$	30	$	7	$	23	$	—	$	—	$	—	$	—

PHI
Letters of credit(a)	$	3	$	—	$	3	$	—	$	—	$	—	$	—
Surety bonds(b)	97		76		21		—		—		—		—
Guaranteed lease residual values(d)	26		—		2		5		4		6		9
Total commercial commitments	$	126	$	76	$	26	$	5	$	4	$	6	$	9

Pepco
Letters of credit(a)	$	2	$	—	$	2	$	—	$	—	$	—	$	—
Surety bonds(b)	85		71		14		—		—		—		—
Guaranteed lease residual values(d)	9		—		1		2		1		2		3
Total commercial commitments	$	96	$	71	$	17	$	2	$	1	$	2	$	3

DPL
Letters of credit(a)	$	1	$	—	$	1	$	—	$	—	$	—	$	—
Surety bonds(b)	7		3		4		—		—		—		—
Guaranteed lease residual values(d)	10		—		1		2		2		2		3
Total commercial commitments	$	18	$	3	$	6	$	2	$	2	$	2	$	3

ACE
Surety bonds(b)	$	5	$	2	$	3	$	—	$	—	$	—	$	—
Guaranteed lease residual values(d)	7		—		—		1		1		2		3
Total commercial commitments	$	12	$	2	$	3	$	1	$	1	$	2	$	3

__________

(a)Exelon and certain of its subsidiaries maintain non-debt letters of credit to provide credit support for certain transactions as requested by third parties.

(b)Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds. Historically, payments under the guarantees have not been made and the likelihood of payments being required is remote.

(c)Reflects guarantee of ComEd and PECO securities held by ComEd Financing III, PECO Trust III, and PECO Trust IV.

(d)Represents the maximum potential obligation in the event the fair value of certain leased equipment and fleet vehicles is zero at the end of the maximum lease term. The lease term associated with these assets ranges from 1 to 9 years. The maximum potential obligation at the end of the minimum lease term would be $60 million guaranteed by Exelon and PHI, of which $21 million, $22 million, and $17 million is guaranteed by Pepco, DPL, and ACE, respectively. Historically, payments under the guarantees have not been made and PHI believes the likelihood of payments being required under the guarantees is remote.

Accrued environmental liabilities

At September 30, 2024 and December 31, 2023, the Registrants had accrued the following undiscounted amounts for environmental liabilities in Accrued expenses, Other current liabilities, and Other deferred credits and other liabilities in their respective Consolidated Balance Sheets:


	September 30, 2024				December 31, 2023
	Total Environmental Investigation and Remediation Liabilities		Portion of Total Related to MGP Investigation and Remediation		Total Environmental Investigation and Remediation Liabilities		Portion of Total Related to MGP Investigation and Remediation
Exelon	$	410	$	328	$	428	$	338
ComEd	290		289		303		302
PECO	31		28		27		25
BGE	14		11		14		11
PHI	75		—		81		—
Pepco	73		—		79		—
DPL	1		—		1		—
ACE	1		—		1		—

Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2024

Retirement Benefits [Abstract]

Calculation of Net Periodic Benefit Costs

A portion of the net periodic benefit cost for all plans is capitalized within the Consolidated Balance Sheets. The following tables present the components of Exelon's net periodic benefit costs, prior to capitalization, for the three and nine months ended September 30, 2024 and 2023.


	Pension Benefits				OPEB
	Three Months Ended September 30,				Three Months Ended September 30,
	2024		2023		2024		2023
Components of net periodic benefit cost
Service cost	$	43	$	39	$	6	$	6
Interest cost	141		145		24		25
Expected return on assets	(184)		(189)		(21)		(21)
Amortization of:
Prior service cost (credit)	1		1		(2)		(2)
Actuarial loss	53		41		—		—

Settlement charges	—		18		—		—
Net periodic benefit cost	$	54	$	55	$	7	$	8

	Pension Benefits				OPEB
	Nine Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Components of net periodic benefit cost
Service cost	$	125	$	116	$	20	$	18
Interest cost	423		434		72		76
Expected return on assets	(552)		(566)		(63)		(63)
Amortization of:
Prior service cost (credit)	2		2		(6)		(7)
Actuarial loss (gain)	160		125		—		(1)

Settlement charges	—		18		—		—
Net periodic benefit cost	$	158	$	129	$	23	$	23

Allocated Portion of Pension and Postretirement Benefit Costs

The amounts below represent the Registrants' allocated pension and OPEB costs. For Exelon, the service cost component is included in Operating and maintenance expense and Property, plant, and equipment, net while the non-service cost components are included in Other, net and Regulatory assets. For the Utility Registrants, which apply multi-employer accounting, the service cost and non-service cost components are included in Operating and maintenance expense and Property, plant, and equipment, net in their consolidated financial statements.


	Three Months Ended September 30,				Nine Months Ended September 30,
Pension and OPEB Costs (Benefit)	2024		2023		2024		2023
Exelon	$	61	$	63	$	181	$	152
ComEd	17		6		53		19
PECO	(1)		(3)		(1)		(10)
BGE	14		14		45		42
PHI	25		25		71		74
Pepco	8		9		24		26
DPL	4		4		11		13
ACE	3		3		10		10

Defined Contribution Savings Plans

The Registrants participate in a 401(k) defined contribution savings plan that is sponsored by Exelon. The plan is qualified under applicable sections of the IRC and allows employees to contribute a portion of their pre-tax and/or after-tax income in accordance with specified guidelines. All Registrants match a percentage of the employee contributions up to certain limits. The following table presents the employer contributions and employer matching contributions to the savings plan for the three and nine months ended September 30, 2024 and 2023.


	Three Months Ended September 30,				Nine Months Ended September 30,
Savings Plan Employer Contributions	2024		2023		2024		2023
Exelon	$	25	$	27	$	76	$	74
ComEd	12		12		32		31
PECO	3		3		11		10
BGE	2		3		8		8
PHI	4		5		12		13
Pepco	1		1		3		3
DPL	1		1		3		3
ACE	1		1		2		2

Consolidated Balance Sheets (Unaudited) - Exelon - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616	$ 445
Restricted cash and cash equivalents	552	482
Accounts receivable
Customer accounts receivable	2,971	2,659
Customer allowance for credit losses	(426)	(317)
Customer accounts receivable, net	2,545	2,342
Other accounts receivable	1,226	1,101
Other allowance for credit losses	(111)	(82)
Other accounts receivable, net	1,115	1,019
Inventories, net
Fossil fuel	78	94
Materials and supplies	777	707
Regulatory assets	1,869	2,215
Other	471	473
Total current assets	8,023	7,777
Property, plant and equipment, net	76,661	73,593
Deferred debits and other assets
Regulatory assets	8,657	8,698
Goodwill	6,630	6,630
Receivable related to Regulatory Agreement Units	4,322	3,232
Investments	279	251
Other	1,498	1,365
Total deferred debits and other assets	21,386	20,176
Total assets	106,070	101,546
Current liabilities
Short-term borrowings	1,031	2,523
Long-term debt due within one year	954	1,403
Accrued expenses	1,284	1,375
Customer deposits	432	411
Regulatory liabilities	430	389
Mark-to-market derivative liabilities	25	74
Unamortized energy contract liabilities	6	8
Other	569	557
Total current liabilities	7,384	9,591
Long-term debt	43,701	39,692
Long-term debt to financing trusts	390	390
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	12,551	11,956
Regulatory liabilities	10,563	9,576
Pension obligations	1,553	1,571
Non-pension postretirement benefit obligations	528	527
Asset retirement obligations	289	267
Mark-to-market derivative liabilities	180	106
Unamortized energy contract liabilities	22	27
Other	2,287	2,088
Total deferred credits and other liabilities	27,973	26,118
Total liabilities	79,448	75,791
Commitments and contingencies
Shareholders’ equity
Common stock	21,320	21,114
Treasury stock, at cost	(123)	(123)
Retained earnings	6,161	5,490
Accumulated other comprehensive loss, net	(736)	(726)
Total shareholders’ equity	26,622	25,755
Total liabilities and shareholders’ equity	106,070	101,546
Related Party
Current liabilities
Accounts payable	5	5
Long-term debt to financing trusts	390	390
Nonrelated Party
Current liabilities
Accounts payable	$ 2,648	$ 2,846

Statements of Changes in Shareholders Equity (Unaudited) - DPL - USD ($) $ in Millions	Total	Retained Earnings	Delmarva Power and Light Company	Delmarva Power and Light Company Common Stock	Delmarva Power and Light Company Retained Earnings
Beginning Balance at Dec. 31, 2022			$ 1,950	$ 1,356	$ 594
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 669	$ 669	60		60
Common stock dividends	(359)	(359)	(42)		(42)
Contributions from parent			99	99
Ending Balance at Mar. 31, 2023			2,067	1,455	612
Beginning Balance at Dec. 31, 2022			1,950	1,356	594
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,711		128
Ending Balance at Sep. 30, 2023			2,080	1,455	625
Beginning Balance at Mar. 31, 2023			2,067	1,455	612
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343	343	25		25
Common stock dividends	(359)	(359)	(18)		(18)
Ending Balance at Jun. 30, 2023			2,074	1,455	619
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	700	700	43		43
Common stock dividends	(358)	(358)	(37)		(37)
Ending Balance at Sep. 30, 2023			2,080	1,455	625
Beginning Balance at Dec. 31, 2023	25,755		2,093	1,455	638
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	658	658	66		66
Common stock dividends	(381)	(381)	(45)		(45)
Contributions from parent			154	154
Ending Balance at Mar. 31, 2024			2,268	1,609	659
Beginning Balance at Dec. 31, 2023	25,755		2,093	1,455	638
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,813		156
Ending Balance at Sep. 30, 2024	26,622		2,246	1,615	631
Beginning Balance at Mar. 31, 2024			2,268	1,609	659
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	448	448	34		34
Common stock dividends	(380)	(380)	(39)		(39)
Ending Balance at Jun. 30, 2024			2,263	1,609	654
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	707	707	55		55
Common stock dividends	(381)	$ (381)	(78)		(78)
Contributions from parent			6	6
Ending Balance at Sep. 30, 2024	$ 26,622		$ 2,246	$ 1,615	$ 631

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-28

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 205
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(16))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

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+ Details

Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table provides a summary of the Utility Registrants’ primary derivative hedging instruments, listed by commodity and accounting treatment.


Registrant	Commodity	Accounting Treatment	Hedging Instrument
ComEd	Electricity	NPNS	Fixed price contracts based on all requirements in the IPA procurement plans.
	Electricity	Changes in fair value of economic hedge recorded to an offsetting regulatory asset or liability(a)	20-year floating-to-fixed energy swap contracts beginning June 2012 based on the renewable energy resource procurement requirements in the Illinois Settlement Legislation of approximately 1.3 million MWhs per year.
PECO	Electricity	NPNS	Fixed price contracts for default supply requirements through full requirements contracts.
	Gas	NPNS	Fixed price contracts to cover about 10% of planned natural gas purchases in support of projected firm sales.
BGE	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
	Gas	NPNS	Fixed price purchases associated with forecasted gas supply requirements.
Pepco	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
DPL	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
	Gas	NPNS	Fixed and index priced contracts through full requirements contracts.
	Gas	Changes in fair value of economic hedge recorded to an offsetting regulatory asset or liability(b)	Exchange traded future contracts for up to 50% of estimated monthly purchase requirements each month, including purchases for storage injections.
ACE	Electricity	NPNS	Fixed price contracts for all BGS requirements through full requirements contracts.

__________

(a)See Note 3 — Regulatory Matters of the 2023 Form 10-K for additional information.

(b)The fair value of the DPL economic hedge is not material at September 30, 2024 and December 31, 2023.

Schedule of Interest Rate Derivatives

Below is a summary of the interest rate hedge balances at September 30, 2024 and December 31, 2023.


	September 30, 2024
	Derivatives Designated as Hedging Instruments		Economic Hedges		Total




Mark-to-market derivative liabilities (noncurrent liabilities)	$	(39)	—		$	(39)
Total mark-to-market derivative liabilities	(39)		—		(39)
Total mark-to-market derivative net liabilities	$	(39)	$	—	$	(39)


	December 31, 2023
	Derivatives Designated as Hedging Instruments		Economic Hedges		Total
Other current assets	$	11	$	1	$	12

Total derivative assets	11		1		12
Mark-to-market derivative liabilities (current liabilities)	(24)		(22)		(46)

Total mark-to-market derivative liabilities	(24)		(22)		(46)
Total mark-to-market derivative net liabilities	$	(13)	$	(21)	$	(34)

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table provides the notional amounts outstanding held by Exelon at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
5-year maturity floating-to-fixed swaps	$	602	$	655
10-year maturity floating-to-fixed swaps	603		655
Total	$	1,205	$	1,310

Economic Hedges (Commodity Price Risk)

Exelon Corporate recognized the following net pre-tax mark-to-market (losses) which are also recognized in Net fair value changes related to derivatives in Exelon's Consolidated Statements of Cash Flows.


	Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
Income Statement Location	Gain (Loss)		Gain (Loss)
Electric operating revenues	$	—	$	(21)
Interest expense	—		1
Total	$	—	$	(20)

Cash collateral held with external counterparties

The following table reflects the Registrants' cash collateral held from external counterparties, which is recorded in Other current liabilities on their respective Consolidated Balance Sheets, as of September 30, 2024 and December 31, 2023:


	September 30, 2024		December 31, 2023
Exelon	$	170	$	148
ComEd	167		146
PECO(a)	—		—
BGE	1		1
PHI	2		1
Pepco(b)	—		1
DPL	2		—
ACE(a)	—		—

__________

(a)PECO and ACE had less than one million in cash collateral held with external parties at September 30, 2024 and December 31, 2023.

(b)Pepco had less than one million in cash collateral held with external parties at September 30, 2024.

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References + Details

Consolidated Statements of Cash Flows (Unaudited) - PHI - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,813	$ 1,711
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	2,683	2,616
Deferred income taxes and amortization of investment tax credits	102	210
Other non-cash operating activities	441	(237)
Changes in assets and liabilities:
Accounts receivable	(489)	82
Inventories	(57)	(8)
Accounts payable and accrued expenses	(309)	(454)
Collateral received (paid), net	21	(183)
Income taxes	(18)	50
Regulatory assets and liabilities, net	194	(395)
Pension and non-pension postretirement benefit contributions	(140)	(97)
Other assets and liabilities	(87)	(24)
Net cash flows provided by operating activities	4,143	3,292
Cash flows from investing activities
Capital expenditures	(5,161)	(5,540)
Other investing activities	9	25
Net cash flows used in investing activities	(5,114)	(5,515)
Cash flows from financing activities
Changes in short-term borrowings	(1,093)	(1,116)
Issuance of long-term debt	4,975	5,300
Retirement of long-term debt	(1,336)	(1,209)
Other financing activities	(83)	(101)
Net cash flows provided by financing activities	1,103	2,080
Decrease in cash, restricted cash, and cash equivalents	132	(143)
Cash, restricted cash, and cash equivalents at beginning of period	1,101	1,090
Cash, restricted cash, and cash equivalents at end of period	1,233	947
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	6	(169)
Pepco Holdings LLC
Cash flows from operating activities
Net income	603	490
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation and amortization	716	741
Deferred income taxes and amortization of investment tax credits	56	44
Other non-cash operating activities	96	80
Changes in assets and liabilities:
Accounts receivable	(116)	(160)
Receivables from and payables to affiliates, net	(8)	(8)
Inventories	(32)	(22)
Accounts payable and accrued expenses	37	23
Collateral received (paid), net	1	(191)
Income taxes	(55)	37
Regulatory assets and liabilities, net	(158)	(2)
Pension and non-pension postretirement benefit contributions	(79)	(15)
Other assets and liabilities	(74)	(98)
Net cash flows provided by operating activities	987	919
Cash flows from investing activities
Capital expenditures	(1,343)	(1,510)
Other investing activities	0	8
Net cash flows used in investing activities	(1,343)	(1,502)
Cash flows from financing activities
Changes in short-term borrowings	(176)	(241)
Issuance of long-term debt	1,100	550
Retirement of long-term debt	(583)	0
Intercompany Money Pool Investments (Borrowings) Exelon		18
Intercompany Money Pool Investments Contributions Exelon	10
Distributions to member	(549)	(410)
Contributions from member	505	475
Other financing activities	(33)	(36)
Net cash flows provided by financing activities	274	356
Decrease in cash, restricted cash, and cash equivalents	(82)	(227)
Cash, restricted cash, and cash equivalents at beginning of period	204	373
Cash, restricted cash, and cash equivalents at end of period	122	146
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	$ (27)	$ (96)

Commitments and Contingencies (All Registrants)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies (All Registrants)

The following is an update to the current status of commitments and contingencies set forth in Note 18 — Commitments and Contingencies of the 2023 Form 10-K.

Commitments

PHI Merger Commitments (Exelon, PHI, Pepco, DPL, and ACE). Approval of the PHI Merger in Delaware, New Jersey, Maryland, and the District of Columbia was conditioned upon Exelon and PHI agreeing to certain commitments. The following amounts represent total commitment costs that have been recorded since the acquisition date and the total remaining obligations for Exelon, PHI, Pepco, DPL, and ACE at September 30, 2024:


Description	Exelon		PHI		Pepco		DPL		ACE
Total commitments	$	513	$	320	$	120	$	89	$	111
Remaining commitments(a)	30		27		24		2		1

__________

(a)Remaining commitments extend through 2026 and include escrow funds, charitable contributions, and rate credits.

Commercial Commitments (All Registrants). The Registrants’ commercial commitments at September 30, 2024, representing commitments potentially triggered by future events, were as follows:


			Expiration within
	Total		2024		2025		2026		2027		2028		2029 and beyond
Exelon
Letters of credit(a)	$	54	$	11	$	43	$	—	$	—	$	—	$	—
Surety bonds(b)	195		86		107		—		2		—		—
Financing trust guarantees(c)	378		—		—		—		—		78		300
Guaranteed lease residual values(d)	26		—		2		5		4		6		9
Total commercial commitments	$	653	$	97	$	152	$	5	$	6	$	84	$	309

ComEd
Letters of credit(a)	$	17	$	4	$	13	$	—	$	—	$	—	$	—
Surety bonds(b)	36		5		29		—		2		—		—
Financing trust guarantees(c)	200		—		—		—		—		—		200
Total commercial commitments	$	253	$	9	$	42	$	—	$	2	$	—	$	200

PECO
Letters of credit(a)	$	4	$	—	$	4	$	—	$	—	$	—	$	—
Surety bonds(b)	2		—		2		—		—		—		—
Financing trust guarantees(c)	178		—		—		—		—		78		100
Total commercial commitments	$	184	$	—	$	6	$	—	$	—	$	78	$	100

BGE
Letters of credit(a)	$	27	$	6	$	21	$	—	$	—	$	—	$	—
Surety bonds(b)	3		1		2		—		—		—		—
Total commercial commitments	$	30	$	7	$	23	$	—	$	—	$	—	$	—

PHI
Letters of credit(a)	$	3	$	—	$	3	$	—	$	—	$	—	$	—
Surety bonds(b)	97		76		21		—		—		—		—
Guaranteed lease residual values(d)	26		—		2		5		4		6		9
Total commercial commitments	$	126	$	76	$	26	$	5	$	4	$	6	$	9

Pepco
Letters of credit(a)	$	2	$	—	$	2	$	—	$	—	$	—	$	—
Surety bonds(b)	85		71		14		—		—		—		—
Guaranteed lease residual values(d)	9		—		1		2		1		2		3
Total commercial commitments	$	96	$	71	$	17	$	2	$	1	$	2	$	3

DPL
Letters of credit(a)	$	1	$	—	$	1	$	—	$	—	$	—	$	—
Surety bonds(b)	7		3		4		—		—		—		—
Guaranteed lease residual values(d)	10		—		1		2		2		2		3
Total commercial commitments	$	18	$	3	$	6	$	2	$	2	$	2	$	3

ACE
Surety bonds(b)	$	5	$	2	$	3	$	—	$	—	$	—	$	—
Guaranteed lease residual values(d)	7		—		—		1		1		2		3
Total commercial commitments	$	12	$	2	$	3	$	1	$	1	$	2	$	3

__________

(a)Exelon and certain of its subsidiaries maintain non-debt letters of credit to provide credit support for certain transactions as requested by third parties.

(c)Reflects guarantee of ComEd and PECO securities held by ComEd Financing III, PECO Trust III, and PECO Trust IV.

Environmental Remediation Matters

General (All Registrants). The Registrants’ operations have in the past, and may in the future, require substantial expenditures to comply with environmental laws. Additionally, under federal and state environmental laws, the Registrants are generally liable for the costs of remediating environmental contamination of property now or formerly owned by them and of property contaminated by hazardous substances generated by them. The Registrants own or lease a number of real estate parcels, including parcels on which their operations or the operations of others may have resulted in contamination by substances that are considered hazardous under environmental laws. In addition, the Registrants are currently involved in a number of proceedings relating to sites where hazardous substances have been deposited and may be subject to additional proceedings in the future. Unless otherwise disclosed, the Registrants cannot reasonably estimate whether they will incur significant liabilities for additional investigation and remediation costs at these or additional sites identified by the Registrants, environmental agencies, or others, or whether such costs will be recoverable from third parties, including customers. Additional costs could have a material, unfavorable impact on the Registrants' financial statements.

MGP Sites (All Registrants). ComEd, PECO, BGE, and DPL have identified sites where former MGP or gas purification activities have or may have resulted in actual site contamination. For some sites, there are additional PRPs that may share responsibility for the ultimate remediation of each location.

•ComEd has 16 sites that are currently under some degree of active study and/or remediation. ComEd expects the majority of the remediation at these sites to continue through at least 2031.

•PECO has 6 sites that are currently under some degree of active study and/or remediation. PECO expects the majority of the remediation at these sites to continue through at least 2027.

•BGE has 4 sites that currently require some level of remediation and/or ongoing activity. BGE expects the majority of the remediation at these sites to continue through at least 2025.

•DPL has 1 site that is currently under study and the required cost at the site is not expected to be material.

The historical nature of the MGP and gas purification sites and the fact that many of the sites have been buried and built over, impacts the ability to determine a precise estimate of the ultimate costs prior to initial sampling and determination of the exact scope and method of remedial activity. Management determines its best estimate of remediation costs using all available information at the time of each study, including probabilistic and deterministic modeling for ComEd and PECO, and the remediation standards currently required by the applicable state environmental agency. Prior to completion of any significant clean up, each site remediation plan is approved by the appropriate state environmental agency.

ComEd, pursuant to an ICC order, and PECO, pursuant to a PAPUC order, are currently recovering environmental remediation costs of former MGP facility sites through customer rates. While BGE and DPL do not have riders for MGP clean-up costs, they have historically received recovery of actual clean-up costs in distribution rates.

During the third quarter of 2024, ComEd and PECO completed an annual study of their future estimated MGP remediation requirements. The study resulted in increases of $13 million and $4 million to the environmental liability and related Regulatory asset for ComEd and PECO, respectively. The increases were primarily due to increased costs resulting from inflation and changes in remediation plans.


	September 30, 2024				December 31, 2023
	Total Environmental Investigation and Remediation Liabilities		Portion of Total Related to MGP Investigation and Remediation		Total Environmental Investigation and Remediation Liabilities		Portion of Total Related to MGP Investigation and Remediation
Exelon	$	410	$	328	$	428	$	338
ComEd	290		289		303		302
PECO	31		28		27		25
BGE	14		11		14		11
PHI	75		—		81		—
Pepco	73		—		79		—
DPL	1		—		1		—
ACE	1		—		1		—

Benning Road Site (Exelon, PHI, and Pepco). In September 2010, PHI received a letter from the EPA identifying the Benning Road site as one of six land-based sites potentially contributing to contamination of the lower Anacostia River. A portion of the site, which is owned by Pepco, was formerly the location of an electric generating facility owned by Pepco subsidiary, Pepco Energy Services (PES), which became a part of Generation following the 2016 merger between PHI and Exelon. This generating facility was deactivated in June 2012. The remaining portion of the site consists of a Pepco transmission and distribution service center that remains in operation. In December 2011, the U.S. District Court for the District of Columbia approved a Consent Decree entered into by Pepco and Pepco Energy Services (hereinafter "Pepco Entities") with the DOEE, which requires the Pepco Entities to conduct a Remedial Investigation and Feasibility Study (RI/FS) for the Benning Road site and an approximately 10 to 15-acre portion of the adjacent Anacostia River. The purpose of this RI/FS is to define the nature and extent of contamination from the Benning Road site and to evaluate remedial alternatives.

Pursuant to an internal agreement between the Pepco Entities, since 2013, Pepco has performed the work required by the Consent Decree and has been reimbursed for that work by an agreed upon allocation of costs between the Pepco Entities. In September 2019, the Pepco Entities issued a draft “final” RI report which the DOEE approved on February 3, 2020. The Pepco Entities are completing a FS to evaluate possible remedial alternatives for submission to the DOEE. In October 2022, the DOEE approved dividing the work to complete the landside portion of the FS from the waterside portion to expedite the overall schedule for completion of the project. The landside FS was approved by the DOEE on March 15, 2024, and the waterside FS is scheduled to be complete and approved by the DOEE by the end of the fourth quarter of 2024. Following the completion of each FS, the DOEE will issue a Proposed Plan for public comment and then issue a Record of Decision (ROD) identifying the remedial actions determined to be necessary for the area in question. On October 3, 2023, the DOEE and Pepco entered into an addendum to the Benning Consent Decree pursuant to which Pepco has agreed to fund or perform the remedial actions to be selected by the DOEE for the landside and waterside areas. This addendum to the Benning Consent Decree was entered by the Court on February 27, 2024 and became effective on that date.

As part of the separation between Exelon and Constellation in February 2022, the internal agreement between the Pepco Entities for completion and payment for the remaining Consent Decree work was memorialized in a formal agreement for post-separation activities. A second post-separation assumption agreement between Exelon and Constellation transferred any of the potential remaining remediation liability, if any, of PES/Generation to a non-utility subsidiary of Exelon which going forward will be responsible for those liabilities. Exelon, PHI, and Pepco have determined that a loss associated with this matter is probable and have accrued an estimated liability, which is included in the table above.

Anacostia River Tidal Reach (Exelon, PHI, and Pepco). Contemporaneous with the Benning Road site RI/FS being performed by the Pepco Entities, the DOEE and NPS have been conducting a separate RI/FS focused on the entire tidal reach of the Anacostia River extending from just north of the Maryland-District of Columbia boundary line to the confluence of the Anacostia and Potomac Rivers. The riverwide RI incorporated the results

of the river sampling performed by the Pepco Entities as part of the Benning RI/FS, as well as similar sampling efforts conducted by owners of other sites adjacent to this segment of the river and supplemental river sampling conducted by the DOEE’s contractor.

On September 30, 2020, the DOEE released its Interim ROD for the Anacostia River sediments. The Interim ROD reflects an adaptive management approach which will require several identified “hot spots” in the river to be addressed first while continuing to conduct studies and to monitor the river to evaluate improvements and determine potential future remediation plans. The adaptive management process chosen by the DOEE is less intrusive, provides more long-term environmental certainty, is less costly, and allows for site specific remediation plans already underway, including the plan for the Benning Road site to proceed to conclusion.

On July 15, 2022, Pepco received a letter from the District of Columbia's Office of the Attorney General (D.C. OAG) on behalf of the DOEE conveying a settlement offer to resolve all PRPs' liability to the District of Columbia (District) for their past costs and their anticipated future costs to complete the work for the Interim ROD. Pepco responded on July 27, 2022 agreeing to enter into settlement discussions. On October 3, 2023, Pepco and the District entered into another consent decree (the “Anacostia River Consent Decree”) pursuant to which Pepco agreed to pay $47 million to resolve its liability to the District for all past costs to perform the riverwide RI/FS and all future costs to complete the work required by the Interim ROD. This amount was agreed to be paid in four equal annual installments beginning a year after the effective date of the Anacostia River Consent Decree. The funds will be deposited into the DOEE’s Clean Land Fund for the District’s costs of the Interim ROD work. The Anacostia River Consent Decree caps Pepco’s liability for these costs and provides Pepco with the right to seek contributions from other potentially responsible parties. The Anacostia River Consent Decree was signed by the judge for the U.S. District Court for the District of Columbia and became effective on April 11, 2024. Exelon, PHI, and Pepco have accrued a liability for Pepco’s payment obligations under the Anacostia Consent Decree and management's best estimate of its share of any other future Anacostia River response costs. Pepco has concluded that incremental exposure remains reasonably possible, but management cannot reasonably estimate a range of loss beyond the amounts recorded, which are included in the table above.

In addition to the activities associated with the remedial process outlined above, CERCLA separately requires federal and state (here including Washington, D.C.) Natural Resource Trustees (federal or state agencies designated by the President or the relevant state, respectively, or Indian tribes) to conduct an assessment of any damages to natural resources within their jurisdiction as a result of the contamination that is being remediated. The Trustees can seek compensation from responsible parties for such damages, including restoration costs. During the second quarter of 2018, Pepco became aware that the Trustees are in the beginning stages of a NRD assessment, a process that often takes many years beyond the remedial decision to complete. Pepco has concluded that a loss associated with the eventual NRD assessment is reasonably possible. Due to the very early stage of the NRD process, Pepco cannot reasonably estimate the final range of loss potentially resulting from this process.

As noted in the Benning Road Site disclosure above, as part of the separation of Exelon and Constellation in February 2022, an assumption agreement was executed transferring any potential future remediation liabilities associated with the Benning Site remediation to a non-utility subsidiary of Exelon. Similarly, any potential future liability associated with the Anacostia River Sediment Project was also assumed by this entity.

Buzzard Point Site (Exelon, PHI, and Pepco). On December 8, 2022, Pepco received a letter from the D.C. OAG, alleging wholly past violations of the District's stormwater discharge and waste disposal requirements related to operations at the Buzzard Point facility, a 9-acre parcel of waterfront property in Washington, D.C. occupied by an active substation and former steam plant building. The letter also alleged wholly past violations by Pepco of stormwater discharge requirements related to its district-wide system of underground vaults. On October 3, 2023, Pepco entered into a Consent Order with the District of Columbia to resolve the alleged violations without any admission of liability. The Consent Order requires Pepco to pay a civil penalty of $10 million. In addition, Pepco has agreed to assess the environmental conditions at its Buzzard Point facility and conduct any remedial actions deemed necessary as a result of the assessment, and also to assess potential environmental impacts associated with the operation of its underground vaults. The court signed and entered the Consent Order, and it became effective on February 2, 2024. Exelon, PHI, and Pepco have accrued a liability for the penalty payments and for the projected costs for the required environmental assessments and remediation. Pepco has concluded that incremental exposure is reasonably possible, but the range of loss cannot be reasonably estimated beyond the amounts included in the table above.

Litigation and Regulatory Matters

DPA and Related Matters (Exelon and ComEd). Exelon and ComEd received a grand jury subpoena in the second quarter of 2019 from the U.S. Attorney’s Office for the Northern District of Illinois (USAO) requiring production of information concerning their lobbying activities in the State of Illinois. On October 4, 2019, Exelon and ComEd received a second grand jury subpoena from the USAO requiring production of records of any communications with certain individuals and entities. On October 22, 2019, the SEC notified Exelon and ComEd that it had also opened an investigation into their lobbying activities. On July 17, 2020, ComEd entered into a DPA with the USAO to resolve the USAO investigation, which included a payment to the U.S. Treasury of $200 million, which was paid in November 2020. The three-year term of the DPA ended on July 17, 2023, and on that same date the court granted the USAO’s motion to dismiss the pending charge against ComEd that had been deferred by the DPA.

On September 28, 2023, Exelon and ComEd reached a settlement with the SEC, concluding and resolving in its entirety the SEC investigation, which related to the conduct identified in the DPA that was entered into by ComEd in July 2020 and successfully exited in July 2023. Under the terms of the settlement, Exelon has agreed to pay a civil penalty of $46.2 million and Exelon and ComEd have agreed to cease and desist from committing or causing any violations and any future violations of specified provisions of the federal securities laws and rules promulgated thereunder. Exelon recorded an accrual for the full amount of the penalty in the second quarter of 2023, which was reflected in Operating and maintenance expense within Exelon's Consolidated Statements of Operations and Comprehensive Income and in Accrued expenses on the Consolidated Balance Sheets. Exelon paid the civil penalty in full on October 4, 2023.

Subsequent to Exelon announcing the receipt of the USAO subpoenas, various lawsuits were filed, and various demand letters were received related to the subject of the subpoenas, the conduct described in the DPA and the SEC's investigation, including:

•Four putative class action lawsuits against ComEd and Exelon were filed in federal court on behalf of ComEd customers in the third quarter of 2020 alleging, among other things, civil violations of federal racketeering laws. The court granted ComEd and Exelon's motion to dismiss these actions in 2021 and that dismissal was affirmed on appeal in 2022. Plaintiffs have no further appeal rights and therefore the dismissal is final.

•Three putative class action lawsuits against ComEd and Exelon were filed in Illinois state court in the third quarter of 2020 seeking restitution and compensatory damages on behalf of ComEd customers. The cases were consolidated into a single action in October of 2020. In 2021, the plaintiffs that filed the class action lawsuits in federal court (“federal plaintiffs”) refiled their dismissed state law claims in state court. ComEd and Exelon moved to dismiss both lawsuits. The court dismissed the original consolidated state court lawsuit in December 2021 and dismissed the federal plaintiffs’ refiled claims in February 2022. Both sets of plaintiffs appealed their dismissals, and the appeals were consolidated in March 2022. On September 8, 2023, the appellate court affirmed the dismissals. On December 22, 2023, plaintiffs collectively filed a petition for leave to appeal to the Illinois Supreme Court, which ComEd and Exelon responded to on January 12, 2024. On March 27, 2024, the Illinois Supreme Court denied plaintiffs' petition for leave to appeal. The dismissal of this action is final.

•On November 3, 2022, a plaintiff filed a putative class action complaint in Lake County, Illinois Circuit Court against ComEd and Exelon for unjust enrichment and deceptive business practices in connection with the conduct giving rise to the DPA. Plaintiff seeks an accounting and disgorgement of any benefits ComEd allegedly obtained from said conduct. ComEd and Exelon filed a motion to dismiss the Complaint on February 3, 2023. On June 16, 2023, the court granted ComEd and Exelon's motion to dismiss the action with prejudice. Plaintiff filed its notice of appeal of that dismissal on July 17, 2023. On April 12, 2024, the appellate court issued its decision affirming dismissal of the action. On June 3, 2024, plaintiff filed a petition for leave to appeal the dismissal to the Illinois Supreme Court, which is a discretionary appeal. ComEd and Exelon filed its response to that petition on July 19, 2024. On September 25, 2024, the Illinois Supreme Court denied plaintiff’s petition for leave to appeal. The dismissal of this action is now final.

•A putative class action lawsuit against Exelon and certain officers of Exelon and ComEd was filed in federal court in December 2019 alleging misrepresentations and omissions in Exelon’s SEC filings

related to ComEd’s lobbying activities and the related investigations. The complaint was amended on September 16, 2020, to dismiss two of the original defendants and add other defendants, including ComEd. Defendants filed a motion to dismiss in November 2020. The court denied the motion in April 2021. Following mediation, the parties reached a settlement of the lawsuit, under which defendants agreed to pay plaintiffs $173 million. On May 26, 2023, plaintiffs filed a motion for preliminary approval of the settlement, which the court granted on June 9, 2023. The court granted final settlement approval on September 7, 2023. The settlement was fully covered by insurance and has been paid in full.

•Several shareholders have sent letters to the Exelon Board of Directors since 2020 demanding, among other things, that the Exelon Board of Directors investigate and address alleged breaches of fiduciary duties and other alleged violations by Exelon and ComEd officers and directors related to the conduct described in the DPA. In the first quarter of 2021, the Exelon Board of Directors appointed a Special Litigation Committee (SLC) consisting of disinterested and independent parties to investigate and address these shareholders’ allegations and make recommendations to the Exelon Board of Directors based on the outcome of the SLC’s investigation. In July 2021, one of the demand letter shareholders filed a derivative action against current and former Exelon and ComEd officers and directors, and against Exelon, as nominal defendant, asserting the same claims made in its demand letter. Since that date, multiple parties have filed separate derivative lawsuits that were subsequently consolidated. On October 12, 2021, the parties filed an agreed motion to stay the litigation for 120 days in order to allow the SLC to continue its investigation, which the court granted. The stay was extended several times. Through mediation efforts, a settlement of the derivative claims was reached by the SLC, the Independent Review Committee of the Board (which had been formed in the third quarter of 2022, to ensure the Board’s consideration of any SLC recommendations would be independent and objective), the Board, and certain of the derivative shareholders. On June 16, 2023, the SLC filed a motion for preliminary approval of the settlement, attaching the Stipulation and Agreement of Settlement (Stipulation), which contained the terms of the proposed settlement. The proposed settlement terms include but are not limited to: a payment of $40 million to Exelon by Exelon’s insurers of which $10 million constitutes the attorneys’ fee award to be paid to the Settling Shareholders’ counsel; various compliance and disclosure-related reforms; and certain changes in Board and Committee composition. On June 30, 2023, the court granted the non-settling shareholders’ request for limited discovery into the settlement. Following that discovery, on October 26, 2023, the SLC filed its renewed motion for preliminary approval with supporting submissions filed by the Independent Review Committee, Exelon, and the Settling Shareholders on that same day. The parties briefing on preliminary approval was completed on January 18, 2024. On September 20, 2024, the court denied without prejudice the SLC’s motion for preliminary approval. The court’s order provides that if the SLC can substantiate or otherwise revise the attorneys’ fees aspect of the settlement, then the SLC can renew its motion for preliminary approval by October 21, 2024. Otherwise, the court directed the parties to file a joint status report by October 30, 2024, proposing next steps to advance the case. On October 21, 2024, the SLC filed its second renewed motion for preliminary approval, and the Settling Shareholders filed a brief in support of the SLC's second renewed motion for preliminary approval.

In August 2022, the ICC concluded its investigation initiated on August 12, 2021 into rate impacts of conduct admitted in the DPA, including the costs recovered from customers related to the DPA and Exelon's funding of the fine paid by ComEd. On August 17, 2022, the ICC issued its final order accepting ComEd's voluntary customer refund offer of approximately $38 million (of which about $31 million was ICC jurisdictional; the remaining balance was FERC jurisdictional) that resolved the question of whether customer funds were used for DPA related activities. The customer refund included the cost of every individual or entity that was either (i) identified in the DPA or (ii) identified by ComEd as an associate of the former Speaker of the Illinois House of Representatives in the ICC proceeding. The ICC’s DPA investigation is now closed. The ICC jurisdictional refund was made to customers during the April 2023 billing cycle, as required by the ICC. The FERC jurisdictional refund was completed as of May 2024 as part of ComEd's transmission formula rate update proceeding, submitted on May 12, 2023. The customer refund was not recovered in rates or charged to customers and ComEd will not seek or accept reimbursement or indemnification from any source other than Exelon.

General (All Registrants). The Registrants are involved in various other litigation matters that are being defended and handled in the ordinary course of business. The Registrants are also from time to time subject to audits and investigations by the FERC and other regulators. The assessment of whether a loss is probable or reasonably possible, and whether the loss or a range of loss is estimable, often involves a series of complex

judgments about future events. The Registrants maintain accruals for such losses that are probable of being incurred and subject to reasonable estimation. Management is sometimes unable to estimate an amount or range of reasonably possible loss, particularly where (1) the damages sought are indeterminate, (2) the proceedings are in the early stages, or (3) the matters involve novel or unsettled legal theories. In such cases, there is considerable uncertainty regarding the timing or ultimate resolution of such matters, including a possible eventual loss.

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	1 Months Ended		3 Months Ended		9 Months Ended
	Aug. 22, 2024	Dec. 06, 2023	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Aug. 04, 2022
At-the-Market Program [Line Items]
Stock Issued During Period, Shares, New Issues			3,980
Issuance of common stock			$ 148		$ 148	$ 0
Equity Distribution Agreement
At-the-Market Program [Line Items]
Stock Issued During Period, Shares, New Issues				3,600
Share Price		$ 39.58					$ 37.60
Issuance of common stock	$ 147	$ 140
Equity Distribution Agreement \| 2024
At-the-Market Program [Line Items]
Stock Issued During Period, Shares, New Issues			4,000
Common Stock
At-the-Market Program [Line Items]
Equity Distribution Agreement			$ 708		$ 708		$ 1,000

Balance Sheets (Unaudited) - DPL - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616	$ 445
Restricted cash and cash equivalents	552	482
Accounts receivable
Customer accounts receivable	2,971	2,659
Customer allowance for credit losses	(426)	(317)
Customer accounts receivable, net	2,545	2,342
Other accounts receivable	1,226	1,101
Other allowance for credit losses	(111)	(82)
Other accounts receivable, net	1,115	1,019
Inventories, net
Fossil fuel	78	94
Materials and supplies	777	707
Regulatory assets	1,869	2,215
Other	471	473
Total current assets	8,023	7,777
Property, plant and equipment, net	76,661	73,593
Deferred debits and other assets
Regulatory assets	8,657	8,698
Other	1,498	1,365
Total deferred debits and other assets	21,386	20,176
Total assets	106,070	101,546
Current liabilities
Short-term borrowings	1,031	2,523
Long-term debt due within one year	954	1,403
Accrued expenses	1,284	1,375
Customer deposits	432	411
Regulatory liabilities	430	389
Other	569	557
Total current liabilities	7,384	9,591
Long-term debt	43,701	39,692
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	12,551	11,956
Regulatory liabilities	10,563	9,576
Asset retirement obligations	289	267
Non-pension postretirement benefit obligations	528	527
Other	2,287	2,088
Total deferred credits and other liabilities	27,973	26,118
Total liabilities	79,448	75,791
Commitments and contingencies
Shareholders’ equity
Common stock	21,320	21,114
Retained earnings	6,161	5,490
Total shareholders’ equity	26,622	25,755
Total liabilities and shareholders’ equity	106,070	101,546
Related Party
Current liabilities
Accounts payable	5	5
Nonrelated Party
Current liabilities
Accounts payable	2,648	2,846
Delmarva Power and Light Company
Current assets
Cash and cash equivalents	8	16
Restricted cash and cash equivalents	2	0
Accounts receivable
Customer accounts receivable	169	183
Customer allowance for credit losses	(17)	(19)
Customer accounts receivable, net	152	164
Other accounts receivable	60	52
Other allowance for credit losses	(7)	(8)
Other accounts receivable, net	53	44
Inventories, net
Fossil fuel	7	9
Materials and supplies	91	72
Prepaid utility taxes	20	24
Regulatory assets	60	54
Other	11	14
Total current assets	404	398
Property, plant and equipment, net	5,415	5,165
Deferred debits and other assets
Regulatory assets	215	218
Prepaid pension asset	124	135
Other	46	50
Total deferred debits and other assets	385	403
Total assets	6,204	5,966
Current liabilities
Short-term borrowings	0	63
Long-term debt due within one year	130	84
Accrued expenses	63	64
Customer deposits	34	31
Regulatory liabilities	47	50
Total current liabilities	476	497
Long-term debt	2,091	1,996
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	935	904
Regulatory liabilities	331	365
Asset retirement obligations	13	12
Non-pension postretirement benefit obligations	5	6
Other	107	93
Total deferred credits and other liabilities	1,391	1,380
Total liabilities	3,958	3,873
Commitments and contingencies
Shareholders’ equity
Common stock	1,615	1,455
Retained earnings	631	638
Total shareholders’ equity	2,246	2,093
Total liabilities and shareholders’ equity	6,204	5,966
Delmarva Power and Light Company \| Related Party
Accounts receivable
Receivables from affiliates	0	1
Current liabilities
Accounts payable	21	25
Delmarva Power and Light Company \| Nonrelated Party
Current liabilities
Accounts payable	161	159
Other	$ 20	$ 21

Consolidated Balance Sheets - PHI (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accumulated depreciation and amortization	$ 18,227	$ 17,251
Pepco Holdings LLC
Accumulated depreciation and amortization	$ 3,574	$ 3,175

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - ACE - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Revenues from alternative revenue programs	$ (54)	$ 108	$ (29)	$ 513
Total operating revenues	6,154	5,980	17,557	16,360
Operating expenses
Operating and maintenance	1,275	1,187	3,756	3,535
Depreciation and amortization	908	890	2,681	2,616
Taxes other than income taxes	395	383	1,127	1,063
Total operating expenses	4,961	4,857	14,348	13,429
Operating income	1,196	1,123	3,221	2,931
Other income and (deductions)
Interest expense, net	(490)	(431)	(1,428)	(1,259)
Other, net	57	81	196	331
Total other income and (deductions)	(439)	(356)	(1,250)	(946)
Income before income taxes	757	767	1,971	1,985
Income taxes	50	67	158	274
Net income	707	700	1,813	1,711
Related Party
Other income and (deductions)
Interest expense to affiliates	(6)	(6)	(18)	(18)
Atlantic City Electric Company
Operating revenues
Revenues from alternative revenue programs	6	5	(3)	21
Total operating revenues	540	502	1,280	1,172
Operating expenses
Operating and maintenance	58	56	155	147
Depreciation and amortization	67	77	214	212
Taxes other than income taxes	2	2	7	7
Total operating expenses	410	394	1,052	971
Operating income	130	108	228	201
Other income and (deductions)
Interest expense, net	(21)	(19)	(59)	(52)
Other, net	4	5	12	13
Total other income and (deductions)	(17)	(14)	(47)	(39)
Income before income taxes	113	94	181	162
Income taxes	30	23	48	40
Net income	83	71	133	122
Comprehensive income	83	71	133	122
Atlantic City Electric Company \| Related Party
Operating revenues
Operating revenues from affiliates	1	0	2	1
Operating expenses
Operating and maintenance from affiliates	38	38	119	112
Electricity, US Regulated
Operating revenues
Electric operating revenues	6,012	5,684	16,379	14,579
Operating expenses
Purchased power and/or fuel	2,349	2,364	6,483	5,766
Electricity, US Regulated \| Atlantic City Electric Company
Operating revenues
Electric operating revenues	533	497	1,281	1,150
Operating expenses
Purchased power and/or fuel	245	221	557	493
Natural Gas, US Regulated
Operating revenues
Electric operating revenues	196	188	1,207	1,268
Operating expenses
Purchased power and/or fuel	$ 34	$ 33	$ 301	$ 449

Segment Information - Narrative (Details)	9 Months Ended
Segment Information - Narrative (Details)	Sep. 30, 2024 Reportable_segment
Segment Reporting Information [Line Items]
Number of reportable segments	6
Pepco Holdings LLC
Segment Reporting Information [Line Items]
Number of reportable segments	3

Regulatory Matters (All Registrants)

9 Months Ended

Sep. 30, 2024

Regulated Operations [Abstract]

Regulatory Matters (All Registrants)

As discussed in Note 3 — Regulatory Matters of the 2023 Form 10-K, the Registrants are involved in rate and regulatory proceedings at FERC and their state commissions. The following discusses developments in 2024 and updates to the 2023 Form 10-K.

Distribution Base Rate Case Proceedings

The following tables show the completed and pending distribution base rate case proceedings in 2024.

Completed Distribution Base Rate Case Proceedings


Registrant/Jurisdiction	Filing Date	Service	Requested Revenue Requirement Increase		Approved Revenue Requirement Increase		Approved ROE	Approval Date	Rate Effective Date
ComEd - Illinois	January 17, 2023	Electric	$	1,487	$	501	8.905%	December 14, 2023(a)	January 1, 2024
			$	838	$	810	8.905%	April 18, 2024(b)	May 1, 2024
	April 21, 2023(c)	Electric	$	247	$	259	8.91%	November 30, 2023	January 1, 2024
BGE - Maryland(d)	February 17, 2023	Electric	$	313	$	179	9.50%	December 14, 2023	January 1, 2024
		Natural Gas	$	289	$	229	9.45%

Pepco - Maryland(e)	May 16, 2023 (amended February 23, 2024)	Electric	$	111	$	45	9.50%	June 10, 2024	April 1, 2024
DPL - Maryland(f)	May 19, 2022	Electric	$	38	$	29	9.60%	December 14, 2022	January 1, 2023
DPL - Delaware(g)	December 15, 2022 (amended September 29, 2023)	Electric	$	39	$	28	9.60%	April 18, 2024	July 15, 2023
ACE - New Jersey(h)	February 15, 2023 (amended August 21, 2023)	Electric	$	92	$	45	9.60%	November 17, 2023	December 1, 2023

__________

(a)Reflects a four-year cumulative multi-year rate plan for January 1, 2024 to December 31, 2027. On December 14, 2023, the ICC approved year-over-year distribution revenue requirement increases in 2024-2027, with an amendatory order on January 10, 2024, of approximately $451 million effective January 1, 2024, $14 million effective January 1, 2025, $6 million effective January 1, 2026, and $30 million effective January 1, 2027, based on an ROE of 8.905%, an equity ratio of 50%, and year end 2022 rate base. The ICC rejected ComEd’s Grid Plan, requiring ComEd to file a revised Grid Plan by March 13, 2024, 90 days after the issuance of the December final order. The ICC also directed that the revised Grid Plan would be reviewed through further formal proceedings in that docket. On January 10, 2024, the ICC granted one portion of ComEd’s application for rehearing of the December 14, 2023 final order, and directed that a rehearing process extending no more than 150 days reconsider certain components of the revenue requirements for the test years (2024-2027), absent an approved Grid Plan. On January 10, 2024, ComEd also filed with the Illinois appellate court an appeal of various aspects of the ICC’s final order on which rehearing was denied, including the 8.905% ROE and 50% equity ratio and denial of any return on ComEd’s pension asset. On March 13, 2024, ComEd filed its revised Grid Plan (Refiled Grid Plan) with supporting testimony and schedules with the ICC. On March 15, 2024, ComEd filed a petition to adjust its MRP to authorize increased rates consistent with the Refiled Grid Plan.

(b)Reflects four-year cumulative increase to the revenue requirement approved on December 14, 2023 and amended on January 10, 2024 of $810 million for January 1, 2024 to December 31, 2027 resulting from the rehearing on certain components of the rate plan. On February 16, 2024, ComEd filed a revised revenue request for an $838 million increase in its 2024-2027 revenue requirements based on the ICC’s limited scope for rehearing which included the value of the 2023 forecasted year-end rate base. On April 18, 2024, the ICC issued an order on the rehearing filing which increased the revenue requirements previously approved by the ICC in its January 10, 2024, amendatory order by $150 million in 2024, $186 million in 2025, $221 million in 2026, and $253 million in 2027. ComEd anticipates that the revenue requirements determined during the rehearing process will be further adjusted upon approval of the Refiled Grid Plan and the pending petition to adjust rates.

(c)On November 30, 2023, the Delivery Reconciliation Amount for 2022 defined in Rider Delivery Service Pricing Reconciliation (Rider DSPR) was approved. The delivery reconciliation amount allows for the reconciliation of the revenue

requirement in effect in the final years in which formula rates are determined and until such time as new rates are established under ComEd’s approved MRP. The 2023 filing reconciled the delivery service rates in effect in 2022 with the actual delivery service costs incurred in 2022. The reconciliation revenue requirement provides for a weighted average debt and equity return on distribution rate base of 6.48%, inclusive of an allowed ROE of 8.91%, reflecting the monthly yields on 30-year treasury bonds plus 580 basis points.

(d)Reflects a three-year cumulative multi-year plan for January 1, 2024 through December 31, 2026. The MDPSC awarded BGE electric revenue requirement increases of $41 million, $113 million, and $25 million in 2024, 2025, and 2026, respectively, and natural gas revenue requirement increases of $126 million, $62 million, and $41 million in 2024, 2025, and 2026, respectively. Requested revenue requirement increases will be used to recover capital investments designed to increase the resilience of the electric and gas distribution systems and support Maryland's climate and regulatory initiatives. The MDPSC also approved a portion of the requested 2021 and 2022 reconciliation amounts, which will be recovered through separate electric and gas riders between March 2024 through February 2025. As such, the reconciliation amounts are not included in the approved revenue requirement increases. The 2021 reconciliation amounts are $13 million and $7 million for electric and gas, respectively, and the 2022 reconciliation amounts are $39 million and $15 million for electric and gas, respectively. In April 2024, BGE filed with the MDPSC its request for recovery of the 2023 reconciliation amounts of $79 million and $73 million for electric and gas, respectively, with supporting testimony and schedules.

(e)Reflects the amounts requested (before offsets) and awarded for a one-year multi-year plan for April 1, 2024 through March 31, 2025. The MDPSC awarded Pepco an electric incremental revenue requirement increase of $45 million for the 12-month period ending March 31, 2025. The MDPSC did not adopt the requested revenue requirement increases of $80 million (before offsets), $51 million, and $14 million as filed for 2025, 2026, and the 2027 nine-month extension period, respectively. The order allows for Pepco to perform an annual reconciliation after the 2024 rate year. The MDPSC also approved the requested reconciliation amounts for the 12-month periods ending March 31, 2022, and March 31, 2023, which will be recovered through a rider between August 2024 through March 2026. As such, the reconciliation amounts are not included in the approved revenue requirement increases. The reconciliation amounts are $1 million, and $7 million, for the 12-month periods ending March 31, 2022, and March 31, 2023, respectively. In July 2024, Pepco filed its request with the MDPSC for recovery of $31 million for the 12-month period ended March 31, 2024, with supporting testimony and schedules.

(f)Reflects a three-year cumulative multi-year plan for January 1, 2023 through December 31, 2025. The MDPSC awarded DPL electric incremental revenue requirement increases of $17 million, $6 million, and $6 million for 2023, 2024, and 2025, respectively.

(g)On April 18, 2024, the DEPSC approved the Significant Storm Expense Rate Rider (Rider SSER) which will allow DPL to recover expenses associated with qualified storms. A qualified storm will be an individual storm for which DPL incurs expenses between $5 million and $15 million. The Rider SSER allows DPL to recover significant storm damage expenses for the previous 12-month period over a future 24-month period. For individual storm events for which DPL incurs expenses of more than $15 million, the future recovery period will be evaluated on a case-by-case basis and the unamortized balance will earn a return at DPL's authorized long-term cost of debt. The Rider SSER will have an annual true-up filing, subject to DEPSC review and approval.

(h)Requested and approved increases are before New Jersey sales and use tax. The NJBPU awarded ACE electric revenue requirement increases of $36 million and $9 million effective December 1, 2023 and February 1, 2024, respectively.

Pending Distribution Base Rate Case Proceedings


Registrant/Jurisdiction	Filing Date	Service	Requested Revenue Requirement Increase		Requested ROE	Expected Approval Timing
ComEd - Illinois	March 15, 2024 (amended August 13, 2024)	Electric(a)	$	667	8.905%	December 2024
	April 26, 2024 (amended September 11, 2024)	Electric(b)	$	624	9.89%	Fourth quarter of 2024
PECO - Pennsylvania	March 28, 2024	Electric(c)(d)	$	464	10.95%	Fourth quarter of 2024
		Natural Gas(d)	$	111	11.15%
Pepco - District of Columbia(e)	April 13, 2023 (amended February 27, 2024)	Electric	$	186	10.50%	Fourth quarter of 2024
DPL - Delaware	September 20, 2024	Natural Gas(f)	$	36	10.65%	First quarter of 2026

__________

(a)On March 13, 2024, ComEd filed its Refiled Grid Plan with the ICC and on March 15, 2024, ComEd filed a petition to adjust its multi-year rate plan to be aligned with ComEd’s Refiled Grid Plan. The adjusted rate plan incorporates changes in the Refiled Grid Plan, which was updated in ComEd's July 31, 2024 surrebuttal testimony and updated again on August 13, 2024, to request a $667 million increase in revenue requirements over four years above those granted in the ICC’s January 10, 2024 amendatory order. The requested year-over-year increases are $309 million in 2024, $95 million in 2025, $128 million in 2026, and $135 million in 2027. A final order on both the Refiled Grid Plan and the adjusted rate plan petition is expected by December 2024 with new rates effective on or before January 1, 2025.

(b)On April 26, 2024, ComEd filed its proposed Delivery Reconciliation Amount, which was updated in ComEd's surrebuttal testimony on September 11, 2024, of $624 million under Rider DSPR which allows for the reconciliation of the revenue requirement in effect. The 2024 filing reconciles those rates with the actual delivery service costs incurred in 2023. The final order is expected in the fourth quarter of 2024 and the reconciliation amount will adjust customer rates in 2025.

(c)PECO requested an annual electric revenue requirement increase of $464 million, which is partially offset by a one-time credit of $64 million in 2025.

(d)On August 30, 2024, PECO and the settling parties filed with the PAPUC two petitions for non-unanimous joint settlements, which included among other things, an increase of $354 million and $78 million in annual distribution service revenue for electric and gas, respectively. No overall ROE was specified in either settlement. On October 15, 2024, the Administrative Law Judges (ALJs) issued Recommended Decisions approving the requested revenue increases of $354 million for electric and $78 million for gas. On October 22, 2024, PECO filed an exception to the ALJs ruling against the Gas Weather Normalization Adjustment. The Commission’s final order, addressing the exception, is expected by December 2024. If approved, the new electric and gas rates take effect January 1, 2025.

(e)Reflects a three-year cumulative multi-year plan for January 1, 2024 through December 31, 2026 submitted to the DCPSC. Pepco requested total electric revenue requirement increases of $116 million, $35 million, and $35 million in 2024, 2025, and 2026, respectively. Requested revenue requirement increases will be used to recover capital investments designed to advance system-readiness and support the District of Columbia’s climate and clean energy goals.

(f)DPL can implement interim rates on April 20, 2025, subject to refund.

Transmission Formula Rates

The Utility Registrants' transmission rates are each established based on a FERC-approved formula. ComEd, BGE, Pepco, DPL, and ACE are required to file an annual update to the FERC-approved formula on or before May 15, and PECO is required to file on or before May 31, with the resulting rates effective on June 1 of the same year. The annual update for ComEd is based on prior year actual costs and current year projected capital additions (initial year revenue requirement). The update for ComEd also reconciles any differences between the revenue requirement in effect beginning June 1 of the prior year and actual costs incurred for that year (annual reconciliation). The annual update for PECO is based on prior year actual costs and current year projected capital additions, accumulated depreciation and accumulated deferred income taxes. The annual update for BGE, Pepco, DPL, and ACE is based on prior year actual costs and current year projected capital additions,

accumulated depreciation, depreciation and amortization expense, and accumulated deferred income taxes. The update for PECO, BGE, Pepco, DPL, and ACE also reconciles any differences between the actual costs and actual revenues for the calendar year (annual reconciliation).

For 2024, the following increases/(decreases) were included in the Utility Registrants' electric transmission formula rate updates:


Registrant(a)	Initial Revenue Requirement Increase		Annual Reconciliation (Decrease) Increase		Total Revenue Requirement Increase			Allowed Return on Rate Base(b)		Allowed ROE(c)
ComEd	$	32	$	(12)	$	20		8.14	%	11.50	%
PECO	$	2	$	3	$	5		7.45	%	10.35	%
BGE	$	42	$	13	$	53	(d)	7.47	%	10.50	%
Pepco	$	58	$	15	$	73		7.62	%	10.50	%
DPL	$	7	$	17	$	24		7.23	%	10.50	%
ACE	$	14	$	18	$	32		7.11	%	10.50	%

__________

(a)All rates are effective June 1, 2024 - May 31, 2025, subject to review by interested parties pursuant to review protocols of each Utility Registrants' tariffs.

(b)Represents the weighted average debt and equity return on transmission rate bases. For PECO, the common equity component of the ratio used to calculate the weighted average debt and equity return on the transmission formula rate base is currently capped at 55.75%.

(c)The rate of return on common equity for each Utility Registrant includes a 50-basis-point incentive adder for being a member of an RTO.

(d)The increase in BGE's transmission revenue requirement includes a $2 million reduction related to a FERC-approved dedicated facilities charge to recover the costs of providing transmission service to specifically designated load by BGE.

Other State Regulatory Matters

Illinois Regulatory Matters

CEJA (Exelon and ComEd). On September 15, 2021, the Governor of Illinois signed into law CEJA. CEJA includes, among other features, (1) procurement of CMCs from qualifying nuclear-powered generating facilities, (2) a requirement to file a general rate case or a new four-year MRP no later than January 20, 2023 to establish rates effective after ComEd’s existing performance-based distribution formula rate sunsets, (3) requirements that ComEd and the ICC initiate and conduct various regulatory proceedings on subjects including ethics, spending, grid investments, and performance metrics.

ComEd Electric Distribution Rates

ComEd filed, and received approval for, its last performance-based electric distribution formula rate update under EIMA in 2022; those rates were in effect throughout 2023.

On February 3, 2022, the ICC approved a tariff that establishes the process under which ComEd reconciled its 2022 and 2023 rate year revenue requirements with actual costs. Those reconciliation amounts are determined using the same process used for prior reconciliations under the performance-based electric distribution formula rate. Using that process, for the rate years 2022 and 2023 ComEd will ultimately collect revenues from customers reflecting each year’s actual recoverable costs, year-end rate base, and a weighted average debt and equity return on distribution rate base, with the ROE component based on the annual average of the monthly yields of the 30-year U.S. Treasury bonds plus 580 basis points. In April 2023, ComEd filed its first petition with the ICC to reconcile its 2022 actual costs with the approved revenue requirement that was in effect in 2022; the final order was issued on November 30, 2023, for rates beginning January 2024. On April 26, 2024, ComEd filed with the ICC its 2023 actual costs with the approved revenue requirement that was in effect in 2023; the final order is expected in the fourth quarter of 2024, for rates beginning January 2025.

Beginning in 2024, ComEd will recover from retail customers, subject to certain exceptions, the costs it incurs to provide electric delivery services either through its electric distribution rate or other recovery mechanisms authorized by CEJA. On January 17, 2023, ComEd filed a petition with the ICC seeking approval of a MRP for 2024-2027. The MRP supports a multi-year grid plan (Grid Plan), also filed on January 17, covering planned

investments on the electric distribution system within ComEd’s service area through 2027. Costs incurred during each year of the MRP are subject to ICC review and the plan’s revenue requirement for each year will be reconciled with the actual costs that the ICC determines are prudently and reasonably incurred for that year. The reconciliation is subject to adjustment for certain costs, including a limitation on recovery of costs that are more than 105% of certain costs in the previously approved MRP revenue requirement, absent a modification of the rate plan itself. Thus, for example, the rate adjustments necessary to reconcile 2024 revenues to ComEd’s actual 2024 costs incurred would take effect in January 2026 after the ICC’s review during 2025.

On December 14, 2023, the ICC issued a final order. The ICC rejected ComEd’s Grid Plan as non-compliant with certain requirements of CEJA, and required ComEd to file a revised Grid Plan by March 13, 2024, 90 days after the issuance of the final order. In the absence of an approved Grid Plan, the ICC set ComEd’s forecast revenue requirements for 2024-2027 based on ComEd's approved year-end 2022 rate base. This resulted in a total cumulative revenue requirement increase of $501 million, a $986 million total revenue reduction from the requested cumulative revenue requirement increase but remains subject to annual reconciliation in accordance with CEJA. The final order approved the process and formulas associated with the MRP reconciliation mechanisms. The ICC did not approve a previously proposed phase-in of the ICC's approved year-over-year revenue increases, and it also denied ComEd's ability to earn a return on its pension asset.

On December 22, 2023, ComEd filed an application for rehearing on several findings in the final order including the use of the 2022 year-end rate base to establish forecast revenue requirements for 2024-2027, ROE, pension asset return, and capital structure. On January 10, 2024, ComEd’s application for rehearing was denied on all issues except for the order’s use of the 2022 year-end rate base. On January 31, 2024, the ICC granted ComEd's motion seeking additional clarification on the scope on rehearing, generally accepting ComEd's proposal and confirming that the rehearing will determine if the forecasted year-end 2023 rate base should be used to set rates for 2024 through 2027 until a refiled Grid Plan is approved. On April 18, 2024, the ICC issued its final order on rehearing and approved increased revenue requirements for 2024-2027.

On January 10, 2024, ComEd also filed an appeal in the Illinois Appellate Court of the issues on which rehearing was denied, including but not limited to the allowed ROE and denial of a return on ComEd’s pension asset. There is no deadline by when the appellate court must rule. On March 7, 2024, the ICC adopted an interim order on scheduling, which confirmed that it intends to issue a final order on ComEd’s Refiled Grid Plan by the end of 2024 and that it will implement rates that will go into effect January 1, 2025, inclusive of a Grid Plan. On March 13, 2024, ComEd filed its Refiled Grid Plan with supporting testimony and schedules with the ICC. The Refiled Grid Plan is designed to meet or exceed every requirement identified by the ICC in its December order that rejected ComEd’s initial Grid Plan. On March 15, 2024, ComEd filed a petition to adjust its MRP to authorize increased rates consistent with the Refiled Grid Plan. Staff and Intervenor direct testimony was filed in May 2024. ComEd filed rebuttal and surrebuttal testimony in June and July, respectively, which provided, among other things, defense of its Refiled Grid Plan capital investments. Evidentiary hearings were held in August; the ALJs' proposed order was issued on October 18, 2024. ComEd has completed and placed in service additional utility plant assets in 2023 and 2024 and will continue to complete and place in service additional utility plant assets prior to the approval of the new Grid Plan. There are still significant unknowns, but ComEd does not currently believe that it is probable that the initially uncollected depreciation or return on the recently completed plant will ultimately be disallowed.

In January 2022, ComEd filed a request with the ICC proposing performance metrics that would be used in determining ROE incentives and penalties in the event ComEd filed a MRP in January 2023. On September 27, 2022, the ICC issued a final order approving seven performance metrics that provide symmetrical performance adjustments of 32 total basis points to ComEd’s rate of return on common equity based on the extent to which ComEd achieves the annual performance goals. On November 10, 2022, the ICC granted ComEd's application for rehearing, in part. On April 5, 2023, the ICC issued its final order on rehearing for the performance and tracking metrics proceeding, in which the ICC declined to adopt ComEd's proposed modifications to the reliability and peak load reduction performance metrics. Efforts are underway to implement the performance metrics, which took effect on January 1, 2024. ComEd will make its initial filing in 2025 to assess performance achieved under the metrics in 2024, and to determine any ROE adjustment, which would take effect in 2026.

Carbon Mitigation Credit

CEJA establishes decarbonization requirements for Illinois as well as programs to support the retention and development of emissions-free sources of electricity. ComEd is required to purchase CMCs from participating

nuclear-powered generating facilities between June 1, 2022 and May 31, 2027. The price to be paid for each CMC was established through a competitive bidding process that included consumer-protection measures that capped the maximum acceptable bid amount and a formula that reduces CMC prices by an energy price index, the base residual auction capacity price in the ComEd zone of PJM, and the monetized value of any federal tax credit or other subsidy if applicable. The consumer protection measures contained in CEJA will result in net payments to ComEd ratepayers if the energy index, the capacity price and applicable federal tax credits or subsidy exceed the CMC contract price. Beginning with the June 2022 monthly billing period, ComEd began issuing credits and/or charges to its retail customers under its new CMC rider. A regulatory asset is recorded for the difference between ComEd's costs associated with the procurement of CMCs from participating nuclear-power generating facilities and revenues received from customers. The balance as of September 30, 2024 is $183 million.

Under CEJA, the costs of procuring CMCs, including carrying costs, are recovered through a rider, the Rider Carbon-Free Resource Adjustment (Rider CFRA). As originally approved by the ICC, Rider CFRA provides for an annual reconciliation and true-up to actual costs incurred or credits received by ComEd to purchase CMCs, with any difference to be credited to or collected from ComEd’s retail customers in subsequent periods. The difference between the net payments to (or receivables from) ComEd ratepayers and the credits received by ComEd to purchase CMCs is recorded to Purchased power expense with an offset to the regulatory asset (or regulatory liability). On December 21, 2022, ComEd filed an amendment to Rider CFRA proposing that it recover costs or provide credits faster than the tariff allows, implement monthly reconciliations, and allow ComEd to adjust Rider CFRA rates based not only on anticipated differences but also past payments or credits, and implement monthly reconciliations beginning with the June 2023 delivery period. The ICC approved the proposal on January 19, 2023. In addition, on March 24, 2023, ComEd submitted revisions to Rider CFRA which clarified the methodology for calculating interest to be included in the annual reconciliation associated with the June 2022 through May 2023 delivery year. The ICC approved the proposal on April 20, 2023. On February 2, 2024, ComEd filed a petition with the ICC to initiate the reconciliation proceeding for the costs incurred in connection with the procurement of CMCs during the delivery year beginning June 1, 2022 and extending through May 31, 2023.

Beneficial Electrification Plan

On March 23, 2023, the ICC issued its final order approving the beneficial electrification plan (BE Plan) for ComEd. The ICC rejected ComEd’s request to treat a large portion of beneficial electrification costs as a regulatory asset and ordered ComEd to seek cost recovery through the multi-year rate plan filing for 2024 and 2025, and the final formula rate reconciliation docket for 2023, rather than through a separate charge. The order also authorized an overall annual budget of $77 million per year for the three-year plan period (2023 through 2025), with flexibility to roll forward unused funds to future years within the same plan period. On April 18, 2023, ComEd filed an application for rehearing in the beneficial electrification plan docket. The Chicago Transit Authority and City of Chicago, jointly, and the Office of the Illinois Attorney General (ILAG) also filed applications for rehearing. On April 27, 2023, ICC staff filed a motion for clarification, seeking clarification from the ICC on the precise budget described in the final order. On May 8, 2023, the ICC denied all applications for rehearing, and entered an amendatory order regarding the annual beneficial electrification plan budgets. ComEd has been directed to use good faith efforts to spend $77 million annually. ComEd subsequently filed its compliance filing in May 2023, detailing project related spending, clarifying the procedure that will be used to seek stakeholder feedback related to beneficial electrification pilot programs, and including the timeline for tariff changes required to implement the programs. ComEd and the ILAG both filed appeals of the ICC’s interim order that addressed the permissible scope of utility beneficial electrification programs outside of transportation and the rate impact cap. The ILAG also filed an appeal seeking reversal of portions of the ICC’s final decision. The final order partly mooted ComEd’s appeal of the interim order and ComEd has decided not to pursue the other issues. As such, ComEd moved to voluntarily dismiss its appeal and the appellate court granted that request. The ILAG consolidated their appeals; briefing has been completed. Oral arguments are scheduled for December 11, 2024. Any ruling on the appeals, even a negative ruling removing programs from the BE Plan or lowering the overall budget of the BE Plan, will only impact forward-looking costs.

Energy Efficiency

CEJA extends ComEd’s current cumulative annual energy efficiency MWh savings goals through 2040, adds expanded electrification measures to those goals, increases low-income commitments and adds a new performance adjustment to the energy efficiency formula rate. ComEd expects its annual spend to increase in 2023 through 2040 to achieve these energy efficiency MWh savings goals, which will be deferred as a separate

regulatory asset that will be recovered through the energy efficiency formula rate over the weighted average useful life, as approved by the ICC, of the related energy efficiency measures.

Energy Efficiency Formula Rate (Exelon and ComEd). ComEd filed its annual energy efficiency formula rate update with the ICC on May 30, 2024. The filing establishes the revenue requirement used to set the rates that will take effect in January 2025 after the ICC's review and approval. The requested revenue requirement update is based on a reconciliation of the 2023 actual costs plus projected 2025 expenditures. The ICC's final order is expected in the fourth quarter of 2024.


Initial Revenue Requirement Increase		Annual Reconciliation Decrease		Total Revenue Requirement Increase		Requested Return on Rate Base(a)		Requested ROE
$	66	$	(8)	$	58	7.02	%	9.89	%

__________

(a)The requested revenue requirement increase provides for a weighted average debt and equity return on the energy efficiency regulatory asset and rate base of 7.02% inclusive of an allowed ROE of 9.89%, reflecting the monthly average yields for 30-year treasury bonds plus 580 basis points. For the 2023 reconciliation year, the requested revenue requirement provides for a weighted average debt and equity return on the energy efficiency regulatory asset and rate base of 7.25% inclusive of an allowed ROE of 10.34%, which includes an upward performance adjustment that increased the ROE. The performance adjustment can either increase or decrease the ROE based upon the achievement of energy efficiency savings goals.

New Jersey Regulatory Matters

Termination of Energy Procurement Provisions of PPAs (Exelon, PHI, and ACE). On December 22, 2021, ACE filed with the NJBPU a petition to terminate the provisions in the PPAs to purchase electricity from two coal-powered generation facilities located in the state of New Jersey. The petition was approved by the NJBPU on March 23, 2022. Upon closing of the transaction on March 31, 2022, ACE recognized a liability of $203 million for the contract termination fee, which is to be paid by the end of 2024, and recognized a corresponding regulatory asset of $203 million.

As of September 30, 2024, the $10 million liability for the contract termination fee is included in Other current liabilities in Exelon's Consolidated Balance Sheet and PPA termination obligation in PHI's and ACE's Consolidated Balance Sheets. For the nine months ended September 30, 2024 and 2023, ACE has respectively paid $40 million and $65 million of the liability, which is recorded in Changes in Other assets and liabilities in Exelon's, PHI's, and ACE's Consolidated Statements of Cash Flows.

Other Federal Regulatory Matters

FERC Audit (Exelon and ComEd). The Utility Registrants are subject to periodic audits and investigations by FERC. FERC’s Division of Audits and Accounting initiated a nonpublic audit of ComEd in April 2021 evaluating ComEd’s compliance with (1) approved terms, rates and conditions of its federally regulated service; (2) accounting requirements of the Uniform System of Accounts; (3) reporting requirements of the FERC Form 1; and (4) the requirements for record retention. The audit period extends back to January 1, 2017.

On July 27, 2023, FERC issued a final audit report which included, among other things, findings and recommendations related to ComEd's methodology regarding the allocation of certain overhead costs to capitalized construction costs under FERC regulations, including a suggestion that refunds may be due to customers for amounts collected in previous years. On August 28, 2023, ComEd filed a formal notice of the issues it contested within the audit report. On December 14, 2023, FERC appointed a settlement judge for the contested overhead allocation findings and set the matter for a trial-type hearing. That hearing process was held in abeyance while a formal settlement process, which began in February 2024, took place.

On July 30, 2024, ComEd reached an agreement in principle on the contested overhead allocation finding. As a result of the settlement process, ComEd recorded a charge for the probable disallowance of $70 million of certain currently capitalized construction costs to operating expenses, which are not expected to be recovered in future rates. The final settlement is subject to FERC approval. The existing loss estimate is reflected in Exelon and ComEd's financial statements as of September 30, 2024.

Regulatory Assets and Liabilities

The Utility Registrants' regulatory assets and liabilities have not changed materially since December 31, 2023, unless noted below. See Note 3 — Regulatory Matters of the 2023 Form 10-K for additional information on the specific regulatory assets and liabilities.

ComEd. Regulatory assets decreased $414 million primarily due to a decrease of $490 million in the CMC regulatory asset. Regulatory liabilities increased $1,155 million primarily due to an increase of $1,029 million in the Decommissioning the Regulatory Agreement Units regulatory liability.

PECO. Regulatory assets increased $69 million primarily due to an increase of $96 million in the Deferred Income Taxes regulatory asset. Regulatory liabilities increased $53 million primarily due to an increase of $60 million in the Decommissioning the Regulatory Agreement Units regulatory liability.

BGE. Regulatory liabilities decreased $102 million primarily due to a decrease of $101 million in the Deferred income taxes regulatory liability.

Pepco. Regulatory assets increased $29 million primarily due to an increase of $27 million in the Multi-year plan reconciliations regulatory asset and an increase of $9 million in the Revenue deferral mechanism regulatory asset, as a result of the Pepco Maryland multi-year plan order issued on June 10, 2024. Regulatory liabilities decreased $46 million primarily due to a decrease of $46 million in the Deferred income taxes regulatory liability.

DPL. Regulatory liabilities decreased $37 million primarily due to a decrease of $20 million in the Deferred income taxes regulatory liability.

ACE. Regulatory assets decreased $10 million primarily due to a decrease of $37 million in the Electric energy and natural gas costs regulatory asset. Regulatory liabilities increased $10 million primarily due to an increase of $12 million in the Transmission formula rate annual reconciliations regulatory liability.

Capitalized Ratemaking Amounts Not Recognized

The following table presents authorized amounts capitalized for ratemaking purposes related to earnings on shareholders' investment that are not recognized for financial reporting purposes in the Registrants' Consolidated Balance Sheets. These amounts will be recognized as revenues in the related Consolidated Statements of Operations and Comprehensive Income in the periods they are billable to the Utility Registrants' customers. PECO had no related amounts at September 30, 2024 and December 31, 2023.


	Exelon		ComEd(a)		BGE(b)		PHI		Pepco(c)		DPL(d)		ACE(e)
September 30, 2024	$	126	$	43	$	22	$	61	$	47	$	1	$	13

December 31, 2023	110		32		33		45		34		1		10

__________

(a)Reflects ComEd's unrecognized equity returns earned for ratemaking purposes on its electric distribution and energy efficiency formula rate regulatory assets.

(b)BGE's amount capitalized for ratemaking purposes primarily relates to earnings on shareholders' investment on AMI programs and investments in rate base included in the multi-year plan reconciliations.

(c)Pepco's authorized amounts capitalized for ratemaking purposes relate to earnings on shareholders' investment on AMI programs, Energy efficiency and demand response programs, investments in rate base and revenues included in the multi-year plan reconciliations, and a portion of Pepco District of Columbia's revenue decoupling.

(d)DPL's authorized amounts capitalized for ratemaking purposes relate to earnings on shareholders' investment on AMI programs and Energy efficiency and demand response programs.

(e)ACE's authorized amounts capitalized for ratemaking purposes primarily relate to earnings on shareholders' investment on AMI programs.

Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Analysis and reconciliation of reportable segment information

An analysis and reconciliation of the Registrants’ reportable segment information to the respective information in the consolidated financial statements for the three and nine months ended September 30, 2024 and 2023 is as follows:

Three Months Ended September 30, 2024 and 2023



	ComEd		PECO		BGE		PHI		Other(a)		Intersegment Eliminations		Exelon
Operating revenues(b):
2024
Electric revenues	$	2,229	$	960	$	925	$	1,836	$	—	$	(6)	$	5,944
Natural gas revenues	—		70		119		23		—		(2)		210
Shared service and other revenues	—		—		—		3		441		(444)		—
Total operating revenues	$	2,229	$	1,030	$	1,044	$	1,862	$	441	$	(452)	$	6,154
2023
Electric revenues	$	2,268	$	970	$	836	$	1,747	$	—	$	(28)	$	5,793
Natural gas revenues	—		67		96		24		—		—		187
Shared service and other revenues	—		—		—		2		445		(447)		—
Total operating revenues	$	2,268	$	1,037	$	932	$	1,773	$	445	$	(475)	$	5,980
Intersegment revenues(c):
2024	$	2	$	4	$	3	$	3	$	438	$	(450)	$	—
2023	9		2		2		2		443		(458)		—
Depreciation and amortization:
2024	$	387	$	108	$	162	$	235	$	16	$	—	$	908
2023	357		100		161		257		15		—		890
Operating expenses:
2024	$	1,731	$	868	$	949	$	1,439	$	439	$	(465)	$	4,961
2023	1,738		847		835		1,440		475		(478)		4,857
Interest expense, net:
2024	$	128	$	58	$	57	$	95	$	158	$	—	$	496
2023	119		52		47		80		139		—		437



Income Taxes:
2024	$	36	$	(4)	$	4	$	72	$	(58)	$	—	$	50
2023	94		3		11		49		(90)		—		67
Net income (loss):
2024	$	360	$	117	$	45	$	278	$	(93)	$	—	$	707
2023	333		146		45		232		(41)		(15)		700
Capital Expenditures:
2024	$	508	$	382	$	365	$	440	$	—	$	—	$	1,695
2023	664		361		330		488		12		—		1,855

______________

(a)Other primarily includes Exelon’s corporate operations, shared service entities, and other financing and investment activities.

(b)Includes gross utility tax receipts from customers. The offsetting remittance of utility taxes to the governing bodies is recorded in Taxes other than income taxes in the Registrants’ Consolidated Statements of Operations and Comprehensive Income. See Note 14 — Supplemental Financial Information for additional information on total utility taxes.

(c)See Note 15 — Related Party Transactions for additional information on intersegment revenues.

PHI:



	Pepco		DPL		ACE		Other(a)		Intersegment Eliminations		PHI
Operating revenues(b):
2024
Electric revenues	$	861	$	439	$	540	$	—	$	(4)	$	1,836
Natural gas revenues	—		23		—		—		—		23
Shared service and other revenues	—		—		—		103		(100)		3
Total operating revenues	$	861	$	462	$	540	$	103	$	(104)	$	1,862
2023
Electric revenues	$	822	$	426	$	502	$	—	$	(3)	$	1,747
Natural gas revenues	—		24		—		—		—		24
Shared service and other revenues	—		—		—		103		(101)		2
Total operating revenues	$	822	$	450	$	502	$	103	$	(104)	$	1,773
Intersegment revenues(c):
2024	$	2	$	2	$	1	$	103	$	(105)	$	3
2023	1		2		—		103		(104)		2
Depreciation and amortization:
2024	$	102	$	62	$	67	$	4	$	—	$	235
2023	112		62		77		6		—		257
Operating expenses:
2024	$	650	$	377	$	410	$	106	$	(104)	$	1,439
2023	658		386		394		105		(103)		1,440
Interest expense, net:
2024	$	50	$	22	$	21	$	3	$	(1)	$	95
2023	41		18		19		3		(1)		80



Income Taxes:
2024	$	32	$	14	$	30	$	(4)	$	—	$	72
2023	21		8		23		(3)		—		49
Net income (loss):
2024	$	140	$	55	$	83	$	—	$	—	$	278
2023	120		43		71		(2)		—		232
Capital Expenditures:
2024	$	218	$	136	$	85	$	1	$	—	$	440
2023	227		158		101		2		—		488

__________

(a)Other primarily includes PHI’s corporate operations, shared service entities, and other financing and investment activities.

(c)Includes intersegment revenues with ComEd, PECO, and BGE, which are eliminated at Exelon.


	ComEd		PECO		BGE		PHI		Other(a)		Intersegment Eliminations		Exelon
Operating revenues(b):
2024
Electric revenues	$	6,403	$	2,537	$	2,588	$	4,809	$	—	$	(17)	$	16,320
Natural gas revenues	—		438		680		122		—		(3)		1,237
Shared service and other revenues	—		—		—		7		1,369		(1,376)		—
Total operating revenues	$	6,403	$	2,975	$	3,268	$	4,938	$	1,369	$	(1,396)	$	17,557
2023
Electric revenues	$	5,836	$	2,484	$	2,322	$	4,459	$	—	$	(45)	$	15,056
Natural gas revenues	—		493		664		150		—		(3)		1,304
Shared service and other revenues	—		—		—		6		1,316		(1,322)		—
Total operating revenues	$	5,836	$	2,977	$	2,986	$	4,615	$	1,316	$	(1,370)	$	16,360

Intersegment revenues(c):
2024	$	6	$	7	$	7	$	7	$	1,362	$	(1,389)	$	—
2023	14		6		6		7		1,310		(1,343)		—
Depreciation and amortization:
2024	$	1,124	$	318	$	474	$	716	$	49	$	—	$	2,681
2023	1,045		297		487		741		46		—		2,616
Operating expenses:
2024	$	5,192	$	2,471	$	2,751	$	3,977	$	1,382	$	(1,425)	$	14,348
2023	4,472		2,436		2,503		3,864		1,521		(1,367)		13,429
Interest expense, net:
2024	$	374	$	170	$	159	$	279	$	466	$	(2)	$	1,446
2023	357		149		135		238		402		(4)		1,277



Income taxes:
2024	$	85	$	9	$	32	$	158	$	(126)	$	—	$	158
2023	235		8		76		103		(149)		1		274
Net income (loss):
2024	$	823	$	356	$	353	$	603	$	(322)	$	—	$	1,813
2023	822		410		286		490		(275)		(22)		1,711
Capital expenditures:
2024	$	1,619	$	1,125	$	1,033	$	1,343	$	41	$	—	$	5,161
2023	1,926		1,068		986		1,510		50		—		5,540
Total assets:
September 30, 2024	$	44,718	$	16,748	$	15,038	$	27,672	$	5,804	$	(3,910)	$	106,070
December 31, 2023	42,827		15,595		14,184		26,903		6,374		(4,337)		101,546

__________

(a)Other primarily includes Exelon’s corporate operations, shared service entities, and other financing and investment activities.

(c)See Note 15 — Related Party Transactions for additional information on intersegment revenues.

PHI:


	Pepco		DPL		ACE		Other(a)		Intersegment Eliminations		PHI
Operating revenues(b):
2024
Electric revenues	$	2,320	$	1,221	$	1,280	$	—	$	(12)	$	4,809
Natural gas revenues	—		122		—		—		—		122
Shared service and other revenues	—		—		—		328		(321)		7
Total operating revenues	$	2,320	$	1,343	$	1,280	$	328	$	(333)	$	4,938
2023
Electric revenues	$	2,174	$	1,123	$	1,172	$	1	$	(11)	$	4,459
Natural gas revenues	—		150		—		—		—		150
Shared service and other revenues	—		—		—		309		(303)		6
Total operating revenues	$	2,174	$	1,273	$	1,172	$	310	$	(314)	$	4,615
Intersegment revenues(c):
2024	$	5	$	5	$	2	$	328	$	(333)	$	7
2023	5		5		1		309		(313)		7
Depreciation and amortization:
2024	$	307	$	183	$	214	$	12	$	—	$	716
2023	329		182		212		18		—		741
Operating expenses:
2024	$	1,824	$	1,099	$	1,052	$	335	$	(333)	$	3,977
2023	1,810		1,079		971		318		(314)		3,864
Interest expense, net:
2024	$	142	$	69	$	59	$	10	$	(1)	$	279
2023	122		53		52		9		2		238



Income taxes:
2024	$	74	$	39	$	48	$	(3)	$	—	$	158
2023	43		25		40		(5)		—		103
Net income (loss):
2024	$	323	$	156	$	133	$	(9)	$	—	$	603
2023	249		128		122		(9)		—		490
Capital expenditures:
2024	$	672	$	404	$	265	$	2	$	—	$	1,343
2023	710		416		376		8		—		1,510
Total assets:
September 30, 2024	$	11,602	$	6,204	$	5,329	$	4,573	$	(36)	$	27,672
December 31, 2023	11,194		5,966		5,157		4,627		(41)		26,903

__________

(a)Other primarily includes PHI’s corporate operations, shared service entities, and other financing and investment activities.

(c)Includes intersegment revenues with ComEd, PECO, and BGE, which are eliminated at Exelon.

Schedule of Revenue by Major Customers by Reporting Segments

The following tables disaggregate the Registrants' revenues recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. For the Utility Registrants, the disaggregation of revenues reflects the two primary utility services of electric sales and natural gas sales (where applicable), with further disaggregation of these tariff sales provided by major customer groups. Exelon’s disaggregated revenues are consistent with the Utility Registrants, but exclude any intercompany revenues.



	Three Months Ended September 30, 2024
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	1,117	$	641	$	558	$	1,016	$	426	$	267	$	323
Small commercial & industrial	603		153		96		203		52		69		82
Large commercial & industrial	286		73		154		365		281		31		53
Public authorities & electric railroads	11		7		8		18		9		4		5
Other(a)	280		74		110		225		85		70		71
Total electric revenues(b)	$	2,297	$	948	$	926	$	1,827	$	853	$	441	$	534
Natural gas revenues
Residential	$	—	$	44	$	58	$	11	$	—	$	11	$	—
Small commercial & industrial	—		17		11		6		—		6		—
Large commercial & industrial	—		—		32		1		—		1		—
Transportation	—		7		—		4		—		4		—
Other(c)	—		2		3		1		—		1		—
Total natural gas revenues(d)	$	—	$	70	$	104	$	23	$	—	$	23	$	—
Total revenues from contracts with customers	$	2,297	$	1,018	$	1,030	$	1,850	$	853	$	464	$	534
Other revenues
Revenues from alternative revenue programs	$	(76)	$	5	$	9	$	8	$	5	$	(3)	$	6
Other electric revenues(e)	8		7		4		4		3		1		—
Other natural gas revenues(e)	—		—		1		—		—		—		—

Total other revenues	$	(68)	$	12	$	14	$	12	$	8	$	(2)	$	6
Total revenues for reportable segments	$	2,229	$	1,030	$	1,044	$	1,862	$	861	$	462	$	540



	Three Months Ended September 30, 2023
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	1,047	$	654	$	512	$	959	$	405	$	255	$	299
Small commercial & industrial	540		148		86		199		54		70		75
Large commercial & industrial	263		67		144		386		303		32		51
Public authorities & electric railroads	11		7		7		16		9		3		4
Other(a)	265		80		104		201		67		67		68
Total electric revenues(b)	$	2,126	$	956	$	853	$	1,761	$	838	$	427	$	497
Natural gas revenues
Residential	$	—	$	43	$	57	$	12	$	—	$	12	$	—
Small commercial & industrial	—		16		10		7		—		7		—
Large commercial & industrial	—		—		25		1		—		1		—
Transportation	—		7		—		3		—		3		—
Other(c)	—		1		4		1		—		1		—
Total natural gas revenues(d)	$	—	$	67	$	96	$	24	$	—	$	24	$	—
Total revenues from contracts with customers	$	2,126	$	1,023	$	949	$	1,785	$	838	$	451	$	497
Other revenues
Revenues from alternative revenue programs	$	135	$	11	$	(22)	$	(15)	$	(18)	$	(2)	$	5
Other electric revenues(e)	7		3		4		3		2		1		—
Other natural gas revenues(e)	—		—		1		—		—		—		—

Total other revenues	$	142	$	14	$	(17)	$	(12)	$	(16)	$	(1)	$	5
Total revenues for reportable segments	$	2,268	$	1,037	$	932	$	1,773	$	822	$	450	$	502

__________

(a)Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue.

(b)Includes operating revenues from affiliates in 2024 and 2023 respectively of:

•$2 million, $9 million at ComEd

•$3 million, $2 million at PECO

•$2 million, $1 million at BGE

•$3 million, $2 million at PHI

•$2 million, $1 million at Pepco

•$2 million, $2 million at DPL

•$1 million, less than $1 million at ACE

(c)Includes off-system natural gas sales.

(d)Includes operating revenues from affiliates in 2024 and 2023 respectively of:

•$1 million, less than $1 million at PECO

•$1 million, $1 million at BGE

(e)Includes late payment charge revenues.

sales provided by major customer groups. Exelon’s disaggregated revenues are consistent with the Utility Registrants, but exclude any intercompany revenues.



	Nine Months Ended September 30, 2024
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	3,017	$	1,683	$	1,556	$	2,537	$	1,085	$	725	$	727
Small commercial & industrial	1,755		407		274		519		141		191		187
Large commercial & industrial	875		191		425		1,034		794		91		149
Public authorities & electric railroads	43		21		24		52		26		12		14
Other(a)	803		221		303		623		224		198		206
Total electric revenues(b)	$	6,493	$	2,523	$	2,582	$	4,765	$	2,270	$	1,217	$	1,283
Natural gas revenues
Residential	$	—	$	300	$	418	$	72	$	—	$	72	$	—
Small commercial & industrial	—		106		76		29		—		29		—
Large commercial & industrial	—		—		143		4		—		4		—
Transportation	—		20		—		12		—		12		—
Other(c)	—		11		12		5		—		5		—
Total natural gas revenues(d)	$	—	$	437	$	649	$	122	$	—	$	122	$	—
Total revenues from contracts with customers	$	6,493	$	2,960	$	3,231	$	4,887	$	2,270	$	1,339	$	1,283
Other revenues
Revenues from alternative revenue programs	$	(100)	$	3	$	28	$	40	$	42	$	1	$	(3)
Other electric revenues(e)	10		11		7		11		8		3		—
Other natural gas revenues(e)	—		1		2		—		—		—		—

Total other revenues	$	(90)	$	15	$	37	$	51	$	50	$	4	$	(3)
Total revenues for reportable segments	$	6,403	$	2,975	$	3,268	$	4,938	$	2,320	$	1,343	$	1,280



	Nine Months Ended September 30, 2023
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	2,744	$	1,617	$	1,308	$	2,181	$	954	$	626	$	601
Small commercial & industrial	1,363		415		253		503		134		189		180
Large commercial & industrial	553		196		412		1,099		838		98		163
Public authorities & electric railroads	33		23		22		49		25		11		13
Other(a)	716		219		303		563		187		186		194
Total electric revenues(b)	$	5,409	$	2,470	$	2,298	$	4,395	$	2,138	$	1,110	$	1,151
Natural gas revenues
Residential	$	—	$	335	$	406	$	88	$	—	$	88	$	—
Small commercial & industrial	—		123		66		40		—		40		—
Large commercial & industrial	—		1		124		3		—		3		—
Transportation	—		20		—		11		—		11		—
Other(c)	—		12		28		8		—		8		—
Total natural gas revenues(d)	$	—	$	491	$	624	$	150	$	—	$	150	$	—
Total revenues from contracts with customers	$	5,409	$	2,961	$	2,922	$	4,545	$	2,138	$	1,260	$	1,151
Other revenues
Revenues from alternative revenue programs	$	405	$	1	$	47	$	59	$	28	$	10	$	21
Other electric revenues(e)	22		13		12		11		8		3		—
Other natural gas revenues(e)	—		2		5		—		—		—		—

Total other revenues	$	427	$	16	$	64	$	70	$	36	$	13	$	21
Total revenues for reportable segments	$	5,836	$	2,977	$	2,986	$	4,615	$	2,174	$	1,273	$	1,172

__________

(a)Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue.

(b)Includes operating revenues from affiliates in 2024 and 2023 respectively of:

•$6 million, $14 million at ComEd

•$5 million, $5 million at PECO

•$4 million, $4 million at BGE

•$7 million, $7 million at PHI

•$5 million, $5 million at Pepco

•$5 million, $5 million at DPL

•$2 million, $1 million at ACE

(c)Includes off-system natural gas sales.

(d)Includes operating revenues from affiliates in 2024 and 2023 respectively of:

•$2 million, $1 million at PECO

•$3 million, $2 million at BGE

(e)Includes late payment charge revenues.

Fair Value of Financial Assets and Liabilities - Fair Value Assets Liabilities Measured On Recurring Basis Unobservable Input Reconciliation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Footnotes To Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Mark-to-market derivative liabilities (current liabilities)	$ 25		$ 25		$ 74
Mark-to-market derivative liabilities (noncurrent liabilities)	180		180		106
Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	(116)	$ (91)	(90)	$ (44)
Total realized / unrealized gains (losses)
Included in net income	0	0	1	2
Included in regulatory assets/liabilities	(26)	(1)	(32)	(50)
Purchases, sales, issuances and settlements
Settlements	(1)		(22)
Ending Balance	(143)	(92)	(143)	(92)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	0	0	2	2
Commonwealth Edison Co
Footnotes To Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Mark-to-market derivative liabilities (current liabilities)	25		25		27
Mark-to-market derivative liabilities (noncurrent liabilities)	140		140		106
Commonwealth Edison Co \| Fair Value, Recurring [Member]
Footnotes To Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Mark-to-market derivative liabilities (current liabilities)	25		25		27
Mark-to-market derivative liabilities (noncurrent liabilities)	140		140		$ 106
Other current assets	0		0
Other deferred debits (noncurrent assets)	0		0
Commonwealth Edison Co \| Derivative [Member] \| Interest Rate Swap
Footnotes To Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Realized Investment Gains (Losses)	5	4	28	23
Commonwealth Edison Co \| Fair Value, Inputs, Level 3 [Member] \| Derivative [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	(139)	(133)	(133)	(84)
Total realized / unrealized gains (losses)
Included in net income	0	0	0	0
Included in regulatory assets/liabilities	(26)	(1)	(32)	(50)
Purchases, sales, issuances and settlements
Settlements	0		0
Ending Balance	(165)	(134)	(165)	(134)
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	0	0	0	0
Footnotes To Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Abstract]
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Period Increase (Decrease)	(31)	(5)	(60)	(73)
Pepco Holdings LLC \| Fair Value, Inputs, Level 3 [Member] \| 6311 Life Insurance [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	22	42	41	40
Total realized / unrealized gains (losses)
Included in net income	0	(2)	2	0
Included in regulatory assets/liabilities	0	0	0	0
Purchases, sales, issuances and settlements
Settlements	(1)		(22)
Ending Balance	21	40	21	40
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	0	(2)	2	0
Potomac Electric Power Company \| Fair Value, Inputs, Level 3 [Member] \| 6311 Life Insurance [Member]
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]
Beginning Balance	22	42	41	40
Total realized / unrealized gains (losses)
Included in net income	0	(2)	2	0
Included in regulatory assets/liabilities	0	0	0	0
Purchases, sales, issuances and settlements
Settlements	(1)		(22)
Ending Balance	21	40	21	40
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss)	$ 0	$ (2)	$ 2	$ 0

Consolidated Statements of Changes in Shareholders Equity - Exelon (Parentheticals) - $ / shares	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Common stock dividends (in dollars per share)	$ 0.38	$ 0.38	$ 0.38	$ 0.36	$ 0.36	$ 0.36

Related Party Transactions - BSC and PHISCO Service Companies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Exelon Business Services Co Affiliate
Related Party Transaction [Line Items]
Related party transaction capitalized costs support services	$ 141	$ 162	$ 458	$ 502
Exelon Business Services Co Affiliate \| Commonwealth Edison Co
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	102	92	306	263
Related party transaction capitalized costs support services	55	71	189	230
Exelon Business Services Co Affiliate \| PECO Energy Co
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	61	55	180	160
Related party transaction capitalized costs support services	23	29	81	89
Exelon Business Services Co Affiliate \| Baltimore Gas and Electric Company
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	61	58	182	166
Related party transaction capitalized costs support services	25	23	74	69
Exelon Business Services Co Affiliate \| Pepco Holdings LLC
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	46	50	145	135
Related party transaction capitalized costs support services	38	39	114	114
Exelon Business Services Co Affiliate \| Potomac Electric Power Company
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	29	30	92	85
Related party transaction capitalized costs support services	16	13	51	41
Exelon Business Services Co Affiliate \| Delmarva Power and Light Company
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	19	19	58	54
Related party transaction capitalized costs support services	11	12	36	32
Exelon Business Services Co Affiliate \| Atlantic City Electric Company
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	16	16	48	45
Related party transaction capitalized costs support services	9	13	24	39
PHI Service Co Affiliate
Related Party Transaction [Line Items]
Related party transaction capitalized costs support services	27	25	85	74
PHI Service Co Affiliate \| Pepco Holdings LLC
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	0	0	0	0
Related party transaction capitalized costs support services	27	24	85	73
PHI Service Co Affiliate \| Potomac Electric Power Company
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	28	31	94	91
Related party transaction capitalized costs support services	12	9	36	30
PHI Service Co Affiliate \| Delmarva Power and Light Company
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	24	24	75	73
Related party transaction capitalized costs support services	8	7	25	22
PHI Service Co Affiliate \| Atlantic City Electric Company
Related Party Transaction [Line Items]
Operating and maintenance from affiliates	23	23	71	67
Related party transaction capitalized costs support services	$ 7	$ 7	$ 24	$ 20

Consolidated Statements of Changes in Shareholders Equity (Unaudited) - ACE - USD ($) $ in Millions	Total	Retained Earnings	Atlantic City Electric Company	Atlantic City Electric Company Common Stock	Atlantic City Electric Company Retained Earnings
Beginning Balance at Dec. 31, 2022			$ 1,753	$ 1,765	$ (12)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 669	$ 669	33		33
Common stock dividends	(359)	(359)	(21)		(21)
Contributions from parent			63	63
Ending Balance at Mar. 31, 2023			1,828	1,828	0
Beginning Balance at Dec. 31, 2022			1,753	1,765	(12)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,711		122
Ending Balance at Sep. 30, 2023			1,829	1,830	(1)
Beginning Balance at Mar. 31, 2023			1,828	1,828	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343	343	18		18
Common stock dividends	(359)	(359)	(15)		(15)
Ending Balance at Jun. 30, 2023			1,831	1,828	3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	700	700	71		71
Common stock dividends	(358)	(358)	(75)		(75)
Contributions from parent			2	2
Ending Balance at Sep. 30, 2023			1,829	1,830	(1)
Beginning Balance at Dec. 31, 2023	25,755		1,812	1,830	(18)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	658	658	29		29
Common stock dividends	(381)	(381)	(22)		(22)
Contributions from parent			81	81
Ending Balance at Mar. 31, 2024			1,900	1,911	(11)
Beginning Balance at Dec. 31, 2023	25,755		1,812	1,830	(18)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,813		133
Ending Balance at Sep. 30, 2024	26,622		1,930	1,915	15
Beginning Balance at Mar. 31, 2024			1,900	1,911	(11)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	448	448	21		21
Common stock dividends	(380)	(380)	(22)		(22)
Ending Balance at Jun. 30, 2024			1,899	1,911	(12)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	707	707	83		83
Common stock dividends	(381)	$ (381)	(56)		(56)
Contributions from parent			4	4
Ending Balance at Sep. 30, 2024	$ 26,622		$ 1,930	$ 1,915	$ 15

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Changes in Accumulated Other Comprehensive Income - Income Taxes Allocated to Other Comprehensive Income (Loss) Components (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Actuarial losses
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	$ (2)	$ (5)	$ (6)	$ (7)
Pension and Non-Pension Postretirement Benefit Plan Items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	0	1	8	5
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Tax	$ 10	$ (7)	$ 0	$ (11)

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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+ Details

Balance Sheets (Unaudited) - Pepco - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616	$ 445
Restricted cash and cash equivalents	552	482
Accounts receivable
Customer accounts receivable	2,971	2,659
Customer allowance for credit losses	(426)	(317)
Customer accounts receivable, net	2,545	2,342
Other accounts receivable	1,226	1,101
Other allowance for credit losses	(111)	(82)
Other accounts receivable, net	1,115	1,019
Inventories, net
Regulatory assets	1,869	2,215
Other	471	473
Total current assets	8,023	7,777
Property, plant and equipment, net	76,661	73,593
Deferred debits and other assets
Regulatory assets	8,657	8,698
Investments	279	251
Other	1,498	1,365
Total deferred debits and other assets	21,386	20,176
Total assets	106,070	101,546
Current liabilities
Short-term borrowings	1,031	2,523
Long-term debt due within one year	954	1,403
Accrued expenses	1,284	1,375
Customer deposits	432	411
Regulatory liabilities	430	389
Other	569	557
Total current liabilities	7,384	9,591
Long-term debt	43,701	39,692
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	12,551	11,956
Regulatory liabilities	10,563	9,576
Asset retirement obligations	289	267
Other	2,287	2,088
Total deferred credits and other liabilities	27,973	26,118
Total liabilities	79,448	75,791
Commitments and contingencies
Shareholders’ equity
Common stock	21,320	21,114
Retained earnings	6,161	5,490
Total shareholders’ equity	26,622	25,755
Total liabilities and shareholders’ equity	106,070	101,546
Related Party
Current liabilities
Accounts payable	5	5
Nonrelated Party
Current liabilities
Accounts payable	2,648	2,846
Potomac Electric Power Company
Current assets
Cash and cash equivalents	20	48
Restricted cash and cash equivalents	20	24
Accounts receivable
Customer accounts receivable	385	369
Customer allowance for credit losses	(58)	(52)
Customer accounts receivable, net	327	317
Other accounts receivable	166	166
Other allowance for credit losses	(26)	(28)
Other accounts receivable, net	140	138
Inventories, net
Inventories, net	169	159
Regulatory assets	157	150
Other	18	51
Total current assets	851	889
Property, plant and equipment, net	9,863	9,430
Deferred debits and other assets
Regulatory assets	472	450
Investments	133	124
Prepaid pension asset	228	246
Total deferred debits and other assets	888	875
Total assets	11,602	11,194
Current liabilities
Short-term borrowings	49	132
Long-term debt due within one year	6	405
Accrued expenses	182	191
Customer deposits	54	47
Regulatory liabilities	17	15
Merger related obligation	22	25
Total current liabilities	698	1,229
Long-term debt	4,356	3,691
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	1,500	1,431
Regulatory liabilities	334	382
Asset retirement obligations	38	37
Other	235	280
Total deferred credits and other liabilities	2,107	2,130
Total liabilities	7,161	7,050
Commitments and contingencies
Shareholders’ equity
Common stock	3,335	3,075
Retained earnings	1,106	1,069
Total shareholders’ equity	4,441	4,144
Total liabilities and shareholders’ equity	11,602	11,194
Potomac Electric Power Company \| Related Party
Accounts receivable
Receivables from affiliates	0	2
Current liabilities
Accounts payable	31	32
Potomac Electric Power Company \| Nonrelated Party
Deferred debits and other assets
Other	55	55
Current liabilities
Accounts payable	304	321
Other	$ 33	$ 61

Consolidated Statements of Cash Flows (Unaudited) - PECO - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,813	$ 1,711
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	2,683	2,616
Gain (Loss) on Sale of Assets and Asset Impairment Charges	(12)	0
Deferred income taxes and amortization of investment tax credits	102	210
Other non-cash operating activities	441	(237)
Changes in assets and liabilities:
Accounts receivable	(489)	82
Inventories	(57)	(8)
Accounts payable and accrued expenses	(309)	(454)
Income taxes	(18)	50
Regulatory assets and liabilities, net	194	(395)
Pension and non-pension postretirement benefit contributions	(140)	(97)
Other assets and liabilities	(87)	(24)
Net cash flows provided by operating activities	4,143	3,292
Cash flows from investing activities
Capital expenditures	(5,161)	(5,540)
Other investing activities	9	25
Net cash flows used in investing activities	(5,114)	(5,515)
Cash flows from financing activities
Changes in short-term borrowings	(1,093)	(1,116)
Issuance of long-term debt	4,975	5,300
Retirement of long-term debt	(1,336)	(1,209)
Dividends paid on common stock	(1,142)	(1,074)
Other financing activities	(83)	(101)
Net cash flows provided by financing activities	1,103	2,080
Decrease in cash, restricted cash, and cash equivalents	132	(143)
Cash, restricted cash, and cash equivalents at beginning of period	1,101	1,090
Cash, restricted cash, and cash equivalents at end of period	1,233	947
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	6	(169)
PECO Energy Co
Cash flows from operating activities
Net income	356	410
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	318	297
Gain (Loss) on Sale of Assets and Asset Impairment Charges	(4)	0
Deferred income taxes and amortization of investment tax credits	(27)	(44)
Other non-cash operating activities	58	2
Changes in assets and liabilities:
Accounts receivable	(75)	135
Receivables from and payables to affiliates, net	(2)	(2)
Inventories	(2)	35
Accounts payable and accrued expenses	(65)	(132)
Income taxes	(55)	76
Regulatory assets and liabilities, net	17	1
Pension and non-pension postretirement benefit contributions	(3)	(1)
Other assets and liabilities	(19)	0
Net cash flows provided by operating activities	497	777
Cash flows from investing activities
Capital expenditures	(1,125)	(1,068)
Intercompany Money Pool Investments Contributions Exelon	(89)	(51)
Other investing activities	5	1
Net cash flows used in investing activities	(1,209)	(1,118)
Cash flows from financing activities
Changes in short-term borrowings	(165)	(239)
Issuance of long-term debt	575	575
Retirement of long-term debt	0	(50)
Dividends paid on common stock	(300)	(303)
Contributions from parent	595	348
Other financing activities	(7)	(6)
Net cash flows provided by financing activities	698	325
Decrease in cash, restricted cash, and cash equivalents	(14)	(16)
Cash, restricted cash, and cash equivalents at beginning of period	51	68
Cash, restricted cash, and cash equivalents at end of period	37	52
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	$ 60	$ (22)

Balance Sheets - DPL (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accumulated depreciation and amortization	$ 18,227	$ 17,251
Delmarva Power and Light Company
Accumulated depreciation and amortization	$ 2,032	$ 1,925

Income Taxes (All Registrants)

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Income Taxes (All Registrants)

Rate Reconciliation

The effective income tax rate from continuing operations varies from the U.S. federal statutory rate principally due to the following:


	Three Months Ended September 30, 2024(a)
	Exelon		ComEd(b)		PECO(c)		BGE(b)		PHI		Pepco		DPL		ACE
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	5.7		7.6		(2.1)		6.5		6.5		6.2		6.3		7.4
Plant basis differences	(4.8)		(0.8)		(19.5)		(0.8)		(0.8)		(1.2)		(0.8)		—
Excess deferred tax amortization	(14.0)		(16.6)		(2.6)		(18.6)		(5.5)		(6.7)		(5.9)		(1.6)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.1)		(0.1)
Tax credits	(0.9)		(2.6)		—		(0.6)		(0.6)		(0.5)		(0.6)		(0.5)
Other	(0.3)		0.6		(0.3)		0.8		0.1		(0.2)		0.4		0.3
Effective income tax rate	6.6	%	9.1	%	(3.5)	%	8.2	%	20.6	%	18.6	%	20.3	%	26.5	%


	Three Months Ended September 30, 2023(a)
	Exelon		ComEd		PECO(c)		BGE		PHI		Pepco		DPL		ACE
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit (d)	(2.7)		7.8		(1.2)		6.6		6.2		5.5		6.1		7.0
Plant basis differences	(4.4)		(0.4)		(15.6)		(0.2)		(1.5)		(2.4)		(0.9)		(0.5)
Excess deferred tax amortization	(6.4)		(5.3)		(2.4)		(5.4)		(8.0)		(9.2)		(10.0)		(3.1)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.1)		(0.1)
Tax credits	(0.5)		(1.2)		—		(2.0)		(0.5)		(0.6)		(0.4)		(0.3)
Other	1.8		0.2		0.2		(0.3)		0.3		0.6		—		0.5
Effective income tax rate	8.7	%	22.0	%	2.0	%	19.6	%	17.4	%	14.9	%	15.7	%	24.5	%

__________

(a)Positive percentages represent income tax expense. Negative percentages represent income tax benefit.

(b)For ComEd, the lower effective tax rate is primarily due to CEJA which resulted in the acceleration of certain income tax benefits. For BGE, the lower effective tax rate is primarily due to the Maryland multi-year plan which resulted in the acceleration of certain income tax benefits.

(c)For PECO, the lower effective tax rate is primarily related to plant basis differences attributable to tax repair deductions.

(d)For Exelon, the lower state income taxes, net of federal income tax expense, is primarily due to the long-term marginal state income tax rate change of $54 million.


	Nine Months Ended September 30, 2024(a)
	Exelon		ComEd(b)		PECO(c)		BGE(b)		PHI		Pepco		DPL		ACE
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	5.8		7.7		(1.2)		6.3		6.5		6.2		6.2		7.4
Plant basis differences	(4.2)		(0.8)		(14.7)		(1.2)		(0.9)		(1.3)		(0.9)		0.1
Excess deferred tax amortization	(14.1)		(17.4)		(2.4)		(17.6)		(5.4)		(6.8)		(5.8)		(1.6)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.1)		(0.1)		—		—		(0.1)		—		(0.1)		(0.1)
Tax credits	(0.6)		(1.4)		—		(0.4)		(0.5)		(0.4)		(0.4)		(0.4)
Other	0.2		0.4		(0.2)		0.2		0.2		(0.1)		—		0.1
Effective income tax rate	8.0	%	9.4	%	2.5	%	8.3	%	20.8	%	18.6	%	20.0	%	26.5	%


	Nine Months Ended September 30, 2023(a)
	Exelon		ComEd		PECO(c)		BGE		PHI		Pepco		DPL		ACE
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit(d)	2.8		7.8		(1.3)		6.5		6.1		5.5		6.2		6.9
Plant basis differences	(4.3)		(0.4)		(15.5)		(0.5)		(1.6)		(2.5)		(1.0)		(0.5)
Excess deferred tax amortization	(6.6)		(5.5)		(2.4)		(5.4)		(7.7)		(9.2)		(9.4)		(2.6)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.1)		(0.1)
Tax credits	(0.5)		(0.7)		—		(0.7)		(0.6)		(0.7)		(0.4)		(0.3)
Other	1.5		0.1		0.1		0.2		0.3		0.6		—		0.3
Effective income tax rate	13.8	%	22.2	%	1.9	%	21.0	%	17.4	%	14.7	%	16.3	%	24.7	%

__________

(a)Positive percentages represent income tax expense. Negative percentages represent income tax benefit.

(c)For PECO, the lower effective tax rate is primarily related to plant basis differences attributable to tax repair deductions.

(d)For Exelon, the lower state income taxes, net of federal income tax expense, is primarily due to the long-term marginal state income tax rate change of $54 million.

Unrecognized Tax Benefits

Exelon, PHI and ACE have the following unrecognized tax benefits at September 30, 2024 and December 31, 2023. ComEd's, PECO's, BGE's, Pepco's, and DPL's amounts are not material.


	Exelon(a)		PHI		ACE
September 30, 2024	$	85	$	38	$	1
December 31, 2023	94		51		15

__________

(a)At September 30, 2024 and December 31, 2023, Exelon's unrecognized tax benefits is inclusive of $31 million related to Constellation's share of unrecognized tax benefits for periods prior to the separation. Exelon reflected an offsetting receivable of $31 million in Other deferred debits and other assets in the Consolidated Balance Sheet for these amounts.

Other Tax Matters

Tax Matters Agreement (Exelon)

In connection with the separation, Exelon entered into a TMA with Constellation. The TMA governs the respective rights, responsibilities, and obligations between Exelon and Constellation after the separation with respect to tax liabilities, refunds and attributes for open tax years that Constellation was part of Exelon’s consolidated group for U.S. federal, state, and local tax purposes.

Indemnification for Taxes. As a former subsidiary of Exelon, Constellation has joint and several liability with Exelon to the IRS and certain state jurisdictions relating to the taxable periods prior to the separation. The TMA specifies that Constellation is liable for their share of taxes required to be paid by Exelon with respect to taxable periods prior to the separation to the extent Constellation would have been responsible for such taxes under the existing Exelon tax sharing agreement.

Tax Refunds. The TMA specifies that Constellation is entitled to their share of any future tax refunds claimed by Exelon with respect to taxable periods prior to the separation to the extent that Constellation would have received such tax refunds under the existing Exelon tax sharing agreement.

Tax Attributes. At the date of separation certain tax attributes, primarily pre-closing tax credit carryforwards, that were generated by Constellation were required by law to be allocated to Exelon. The TMA provides that Exelon will reimburse Constellation when those allocated tax credit carryforwards are utilized. As of September 30, 2024, Exelon recorded a payable of $130 million and $201 million in Other current liabilities and Other deferred credits and other liabilities, respectively, in the Consolidated Balance Sheet for tax attribute carryforwards that are expected to be utilized and reimbursed to Constellation.

Corporate Alternative Minimum Tax (All Registrants)

On August 16, 2022, the IRA was signed into law and implements a new corporate alternative minimum tax (CAMT) that imposes a 15.0% tax on modified GAAP net income. Corporations are entitled to a tax credit (minimum tax credit) to the extent the CAMT liability exceeds the regular tax liability. This amount can be carried forward indefinitely and used in future years when regular tax exceeds the CAMT.

Beginning in 2023, based on the existing statute, Exelon and each of the Utility Registrants will be subject to and will report the CAMT on a separate Registrant basis in the Consolidated Statements of Operations and Comprehensive Income and the Consolidated Balance Sheets. The deferred tax asset related to the minimum tax credit carryforward will be realized to the extent Exelon’s consolidated deferred tax liabilities exceed the minimum tax credit carryforward. Exelon’s deferred tax liabilities are expected to exceed the minimum tax credit carryforward for the foreseeable future and thus no valuation allowance is required.

On September 12, 2024, the U.S. Treasury issued proposed regulations providing further guidance addressing the implementation of CAMT. The proposed regulations are consistent with Exelon’s prior interpretation and therefore there are no financial statement impacts. Exelon will continue to monitor and assess the potential financial statement impacts of final regulations or other guidance when issued.

Allocation of Tax Benefits (All Registrants)

The Utility Registrants are party to an agreement with Exelon that provides for the allocation of consolidated tax liabilities and benefits (Tax Sharing Agreement). The Tax Sharing Agreement provides that each party is allocated an amount of tax similar to that which would be owed had the party been separately subject to tax. In addition, any net benefit attributable to Exelon is reallocated to the Utility Registrants. That allocation is treated as a contribution to capital from Exelon to the party receiving the benefit.

The following table presents the allocation of tax benefits from Exelon under the Tax Sharing Agreement, for the three and nine months ended September 30, 2024, and 2023.


	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
September 30, 2024	$	30	$	15	$	14	$	16	$	9	$	5	$	2
September 30, 2023	$	13	$	19	$	—	$	10	$	4	$	—	$	2

Allocation of Income Taxes to Regulated Utilities (All Registrants)

In Q2 2024, the IRS issued a series of private letter rulings (PLR), to another taxpayer, providing guidance with respect to the application of the tax normalization rules to the allocation of consolidated tax benefits among the members of a consolidated group associated with NOLC for ratemaking purposes. The rulings provide that for ratemaking purposes the tax benefit of NOLC should be reflected on a separate company basis not taking into consideration any payments received for the utilization of losses by other affiliates under a tax sharing agreement.

For the Registrants, the impact of these PLRs could result in a material reduction of the regulatory liability established for EDITs arising from the TCJA corporate tax rate change that are being amortized and flowed through to customers as well as a reduction in the accumulated deferred income taxes that reduce rate base for ratemaking purposes.

A PLR issued to another taxpayer may not be relied on as precedent. However, Management is analyzing this guidance and plans to work collaboratively with Exelon's regulatory commissions to address potential impacts. The Registrants will record the impact, if any, after either obtaining approval from their regulatory commissions or upon receiving their own PLRs from the IRS.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Regulatory Matters (Tables)

9 Months Ended

Sep. 30, 2024

Regulated Operations [Abstract]

Public Utilities Distribution Rate Cases [Table Text Block]

The following tables show the completed and pending distribution base rate case proceedings in 2024.

Completed Distribution Base Rate Case Proceedings


Registrant/Jurisdiction	Filing Date	Service	Requested Revenue Requirement Increase		Approved Revenue Requirement Increase		Approved ROE	Approval Date	Rate Effective Date
ComEd - Illinois	January 17, 2023	Electric	$	1,487	$	501	8.905%	December 14, 2023(a)	January 1, 2024
			$	838	$	810	8.905%	April 18, 2024(b)	May 1, 2024
	April 21, 2023(c)	Electric	$	247	$	259	8.91%	November 30, 2023	January 1, 2024
BGE - Maryland(d)	February 17, 2023	Electric	$	313	$	179	9.50%	December 14, 2023	January 1, 2024
		Natural Gas	$	289	$	229	9.45%

Pepco - Maryland(e)	May 16, 2023 (amended February 23, 2024)	Electric	$	111	$	45	9.50%	June 10, 2024	April 1, 2024
DPL - Maryland(f)	May 19, 2022	Electric	$	38	$	29	9.60%	December 14, 2022	January 1, 2023
DPL - Delaware(g)	December 15, 2022 (amended September 29, 2023)	Electric	$	39	$	28	9.60%	April 18, 2024	July 15, 2023
ACE - New Jersey(h)	February 15, 2023 (amended August 21, 2023)	Electric	$	92	$	45	9.60%	November 17, 2023	December 1, 2023

__________

Pending Distribution Base Rate Case Proceedings


Registrant/Jurisdiction	Filing Date	Service	Requested Revenue Requirement Increase		Requested ROE	Expected Approval Timing
ComEd - Illinois	March 15, 2024 (amended August 13, 2024)	Electric(a)	$	667	8.905%	December 2024
	April 26, 2024 (amended September 11, 2024)	Electric(b)	$	624	9.89%	Fourth quarter of 2024
PECO - Pennsylvania	March 28, 2024	Electric(c)(d)	$	464	10.95%	Fourth quarter of 2024
		Natural Gas(d)	$	111	11.15%
Pepco - District of Columbia(e)	April 13, 2023 (amended February 27, 2024)	Electric	$	186	10.50%	Fourth quarter of 2024
DPL - Delaware	September 20, 2024	Natural Gas(f)	$	36	10.65%	First quarter of 2026

__________

(c)PECO requested an annual electric revenue requirement increase of $464 million, which is partially offset by a one-time credit of $64 million in 2025.

(f)DPL can implement interim rates on April 20, 2025, subject to refund.

Public Utilities Transmission Rate Filings [Table Text Block]

For 2024, the following increases/(decreases) were included in the Utility Registrants' electric transmission formula rate updates:


Registrant(a)	Initial Revenue Requirement Increase		Annual Reconciliation (Decrease) Increase		Total Revenue Requirement Increase			Allowed Return on Rate Base(b)		Allowed ROE(c)
ComEd	$	32	$	(12)	$	20		8.14	%	11.50	%
PECO	$	2	$	3	$	5		7.45	%	10.35	%
BGE	$	42	$	13	$	53	(d)	7.47	%	10.50	%
Pepco	$	58	$	15	$	73		7.62	%	10.50	%
DPL	$	7	$	17	$	24		7.23	%	10.50	%
ACE	$	14	$	18	$	32		7.11	%	10.50	%

__________

(a)All rates are effective June 1, 2024 - May 31, 2025, subject to review by interested parties pursuant to review protocols of each Utility Registrants' tariffs.

(c)The rate of return on common equity for each Utility Registrant includes a 50-basis-point incentive adder for being a member of an RTO.

Public Utilities Energy Efficiency Revenue [Table Text Block]

ComEd filed its annual energy efficiency formula rate update with the ICC on May 30, 2024. The filing establishes the revenue requirement used to set the rates that will take effect in January 2025 after the ICC's review and approval. The requested revenue requirement update is based on a reconciliation of the 2023 actual costs plus projected 2025 expenditures. The ICC's final order is expected in the fourth quarter of 2024.


Initial Revenue Requirement Increase		Annual Reconciliation Decrease		Total Revenue Requirement Increase		Requested Return on Rate Base(a)		Requested ROE
$	66	$	(8)	$	58	7.02	%	9.89	%

__________

Capitalized Ratemaking Amounts Not Recognized [Table Text Block]


	Exelon		ComEd(a)		BGE(b)		PHI		Pepco(c)		DPL(d)		ACE(e)
September 30, 2024	$	126	$	43	$	22	$	61	$	47	$	1	$	13

December 31, 2023	110		32		33		45		34		1		10

__________

(a)Reflects ComEd's unrecognized equity returns earned for ratemaking purposes on its electric distribution and energy efficiency formula rate regulatory assets.

(d)DPL's authorized amounts capitalized for ratemaking purposes relate to earnings on shareholders' investment on AMI programs and Energy efficiency and demand response programs.

(e)ACE's authorized amounts capitalized for ratemaking purposes primarily relate to earnings on shareholders' investment on AMI programs.

Consolidated Balance Sheets (Unaudited) - PECO - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616	$ 445
Restricted cash and cash equivalents	552	482
Accounts receivable
Customer accounts receivable	2,971	2,659
Customer allowance for credit losses	(426)	(317)
Customer accounts receivable, net	2,545	2,342
Other accounts receivable	1,226	1,101
Other allowance for credit losses	(111)	(82)
Other accounts receivable, net	1,115	1,019
Inventories, net
Fossil fuel	78	94
Materials and supplies	777	707
Regulatory assets	1,869	2,215
Other	471	473
Total current assets	8,023	7,777
Property, plant and equipment, net	76,661	73,593
Deferred debits and other assets
Regulatory assets	8,657	8,698
Receivable related to Regulatory Agreement Units	4,322	3,232
Investments	279	251
Other	1,498	1,365
Total deferred debits and other assets	21,386	20,176
Total assets	106,070	101,546
Current liabilities
Short-term borrowings	1,031	2,523
Accrued expenses	1,284	1,375
Customer deposits	432	411
Regulatory liabilities	430	389
Other	569	557
Total current liabilities	7,384	9,591
Long-term debt	43,701	39,692
Long-term debt to financing trusts	390	390
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	12,551	11,956
Regulatory liabilities	10,563	9,576
Asset retirement obligations	289	267
Non-pension postretirement benefit obligations	528	527
Other	2,287	2,088
Total deferred credits and other liabilities	27,973	26,118
Total liabilities	79,448	75,791
Commitments and contingencies
Shareholders’ equity
Common stock	21,320	21,114
Retained earnings	6,161	5,490
Total shareholders’ equity	26,622	25,755
Total liabilities and shareholders’ equity	106,070	101,546
Related Party
Current liabilities
Accounts payable	5	5
Long-term debt to financing trusts	390	390
Nonrelated Party
Current liabilities
Accounts payable	2,648	2,846
PECO Energy Co
Current assets
Cash and cash equivalents	28	42
Restricted cash and cash equivalents	9	9
Accounts receivable
Customer accounts receivable	546	527
Customer allowance for credit losses	(135)	(95)
Customer accounts receivable, net	411	432
Other accounts receivable	160	117
Other allowance for credit losses	(20)	(8)
Other accounts receivable, net	140	109
Inventories, net
Fossil fuel	39	50
Materials and supplies	79	67
Prepaid utility taxes	37	2
Regulatory assets	86	127
Other	63	63
Total current assets	982	903
Property, plant and equipment, net	14,021	13,128
Deferred debits and other assets
Regulatory assets	903	793
Receivable related to Regulatory Agreement Units	338	278
Investments	39	35
Prepaid pension asset	434	429
Total deferred debits and other assets	1,745	1,564
Total assets	16,748	15,595
Current liabilities
Short-term borrowings	0	165
Accrued expenses	148	236
Customer deposits	76	79
Regulatory liabilities	83	92
Total current liabilities	963	1,182
Long-term debt	5,703	5,134
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	2,389	2,321
Regulatory liabilities	376	314
Asset retirement obligations	28	26
Non-pension postretirement benefit obligations	287	286
Other	98	79
Total deferred credits and other liabilities	3,178	3,026
Total liabilities	10,028	9,526
Commitments and contingencies
Shareholders’ equity
Common stock	4,645	4,050
Retained earnings	2,075	2,019
Total shareholders’ equity	6,720	6,069
Total liabilities and shareholders’ equity	16,748	15,595
PECO Energy Co \| Related Party
Accounts receivable
Receivables from affiliates	1	2
Receivable from PHI intercompany money pool	89	0
Current liabilities
Accounts payable	36	39
Long-term debt to financing trusts	184	184
PECO Energy Co \| Nonrelated Party
Deferred debits and other assets
Other	31	29
Current liabilities
Accounts payable	556	512
Other	$ 64	$ 59

Commitments and Contingencies - Merger Commitment (Details) $ in Millions	Sep. 30, 2024 USD ($)
Other Commitments [Line Items]
Other Commitment	$ 653
Pepco Holdings LLC
Other Commitments [Line Items]
Other Commitment	126
Potomac Electric Power Company
Other Commitments [Line Items]
Other Commitment	96
Delmarva Power and Light Company
Other Commitments [Line Items]
Other Commitment	18
Atlantic City Electric Company
Other Commitments [Line Items]
Other Commitment	12
Pepco Holdings Inc [Member]
Other Commitments [Line Items]
Other Commitment	513
Pepco Holdings Inc [Member] \| Remaining commitment
Other Commitments [Line Items]
Other Commitment	30
Pepco Holdings Inc [Member] \| Pepco Holdings LLC
Other Commitments [Line Items]
Other Commitment	320
Pepco Holdings Inc [Member] \| Pepco Holdings LLC \| Remaining commitment
Other Commitments [Line Items]
Other Commitment	27
Pepco Holdings Inc [Member] \| Potomac Electric Power Company
Other Commitments [Line Items]
Other Commitment	120
Pepco Holdings Inc [Member] \| Potomac Electric Power Company \| Remaining commitment
Other Commitments [Line Items]
Other Commitment	24
Pepco Holdings Inc [Member] \| Delmarva Power and Light Company
Other Commitments [Line Items]
Other Commitment	89
Pepco Holdings Inc [Member] \| Delmarva Power and Light Company \| Remaining commitment
Other Commitments [Line Items]
Other Commitment	2
Pepco Holdings Inc [Member] \| Atlantic City Electric Company
Other Commitments [Line Items]
Other Commitment	111
Pepco Holdings Inc [Member] \| Atlantic City Electric Company \| Remaining commitment
Other Commitments [Line Items]
Other Commitment	$ 1

Supplemental Financial Information - Taxes Other Than Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Supplemental Statement of Operations Information [Line Items]
Utility taxes	$ 248	$ 244	$ 695	$ 665
Property	111	104	323	300
Payroll	33	31	100	93
Commonwealth Edison Co
Supplemental Statement of Operations Information [Line Items]
Utility taxes	80	82	229	228
Property	7	9	25	27
Payroll	9	8	27	22
PECO Energy Co
Supplemental Statement of Operations Information [Line Items]
Utility taxes	51	50	134	128
Property	5	4	14	12
Payroll	4	4	13	13
Baltimore Gas and Electric Company
Supplemental Statement of Operations Information [Line Items]
Utility taxes	25	23	78	73
Property	57	53	164	153
Payroll	5	5	14	14
Pepco Holdings LLC
Supplemental Statement of Operations Information [Line Items]
Utility taxes	92	89	254	236
Property	41	38	119	108
Payroll	7	7	22	22
Potomac Electric Power Company
Supplemental Statement of Operations Information [Line Items]
Utility taxes	84	82	230	213
Property	28	25	81	73
Payroll	2	2	6	5
Delmarva Power and Light Company
Supplemental Statement of Operations Information [Line Items]
Utility taxes	7	6	21	20
Property	12	12	35	34
Payroll	1	1	3	3
Atlantic City Electric Company
Supplemental Statement of Operations Information [Line Items]
Utility taxes	1	1	3	3
Property	1	1	2	1
Payroll	$ 0	$ 1	$ 2	$ 3

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - ComEd - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Revenues from alternative revenue programs	$ (54)	$ 108	$ (29)	$ 513
Total operating revenues	6,154	5,980	17,557	16,360
Operating expenses
Operating and maintenance	1,275	1,187	3,756	3,535
Depreciation and amortization	908	890	2,681	2,616
Taxes other than income taxes	395	383	1,127	1,063
Total operating expenses	4,961	4,857	14,348	13,429
Gain on sales of assets	3	0	12	0
Operating income	1,196	1,123	3,221	2,931
Other income and (deductions)
Interest expense, net	(490)	(431)	(1,428)	(1,259)
Other, net	57	81	196	331
Total other income and (deductions)	(439)	(356)	(1,250)	(946)
Income before income taxes	757	767	1,971	1,985
Income taxes	50	67	158	274
Net income	707	700	1,813	1,711
Related Party
Other income and (deductions)
Interest expense to affiliates	(6)	(6)	(18)	(18)
Commonwealth Edison Co
Operating revenues
Revenues from alternative revenue programs	(76)	135	(100)	405
Total operating revenues	2,229	2,268	6,403	5,836
Operating expenses
Operating and maintenance	307	293	970	814
Depreciation and amortization	387	357	1,124	1,045
Taxes other than income taxes	99	100	287	282
Total operating expenses	1,731	1,738	5,192	4,472
Gain on sales of assets	0	0	5	0
Operating income	498	530	1,216	1,364
Other income and (deductions)
Interest expense, net	(125)	(116)	(364)	(347)
Other, net	26	16	66	50
Total other income and (deductions)	(102)	(103)	(308)	(307)
Income before income taxes	396	427	908	1,057
Income taxes	36	94	85	235
Net income	360	333	823	822
Comprehensive income	360	333	823	822
Commonwealth Edison Co \| Related Party
Operating revenues
Operating revenues from affiliates	2	9	6	14
Operating expenses
Operating and maintenance from affiliates	103	92	307	263
Other income and (deductions)
Interest expense to affiliates	(3)	(3)	(10)	(10)
Electricity, US Regulated
Operating revenues
Electric operating revenues	6,012	5,684	16,379	14,579
Operating expenses
Purchased power and/or fuel	2,349	2,364	6,483	5,766
Electricity, US Regulated \| Commonwealth Edison Co
Operating revenues
Electric operating revenues	2,303	2,124	6,497	5,417
Operating expenses
Purchased power and/or fuel	835	896	2,504	2,068
Rate-regulated natural gas revenues
Operating revenues
Electric operating revenues	196	188	1,207	1,268
Operating expenses
Purchased power and/or fuel	$ 34	$ 33	$ 301	$ 449

Debt and Credit Agreements (All Registrants)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Debt and Credit Agreements (All Registrants)

Short-Term Borrowings

Exelon Corporate, ComEd, and BGE meet their short-term liquidity requirements primarily through the issuance of commercial paper. PECO meets its short-term liquidity requirements primarily through the issuance of commercial paper and borrowings from the Exelon intercompany money pool. Pepco, DPL, and ACE meet their short-term liquidity requirements primarily through the issuance of commercial paper and borrowings from the PHI intercompany money pool. PHI Corporate meets its short-term liquidity requirements primarily through the issuance of short-term notes and borrowings from the Exelon intercompany money pool. The Registrants may use their respective credit facilities for general corporate purposes, including meeting short-term funding requirements and the issuance of letters of credit.

Commercial Paper

The following table reflects the Registrants' commercial paper programs supported by the revolving credit agreements at September 30, 2024 and December 31, 2023.


	Outstanding Commercial Paper at				Average Interest Rate on Commercial Paper Borrowings at
Commercial Paper Issuer	September 30, 2024		December 31, 2023		September 30, 2024		December 31, 2023
Exelon(a)	$	531	$	1,624	4.94	%	5.58	%
ComEd	$	73	$	202	4.90	%	5.53	%
PECO	$	—	$	165	—	%	5.57	%
BGE	$	—	$	336	—	%	5.59	%
PHI(b)	$	218	$	394	4.94	%	5.60	%

Pepco	$	49	$	132	4.93	%	5.59	%
DPL	$	—	$	63	—	%	5.60	%
ACE	$	169	$	199	4.94	%	5.60	%

__________

(a)Exelon Corporate had $240 million and $527 million in outstanding commercial paper borrowings at September 30, 2024 and December 31, 2023, respectively.

(b)Represents the consolidated amounts of Pepco, DPL, and ACE.

Revolving Credit Agreements

On August 29, 2024, Exelon Corporate and each of the Utility Registrants amended and restated their respective syndicated revolving credit facility, extending the maturity date to August 29, 2029. The following table reflects the credit agreements:


Borrower	Aggregate Bank Commitment		Interest Rate
Exelon Corporate	$	900	SOFR plus 1.275	%
ComEd	$	1,000	SOFR plus 1.000	%
PECO	$	600	SOFR plus 0.900	%
BGE	$	600	SOFR plus 0.900	%
Pepco	$	300	SOFR plus 1.075	%
DPL	$	300	SOFR plus 1.000	%
ACE	$	300	SOFR plus 1.000	%

Exelon Corporate and the Utility Registrants had no outstanding amounts on the revolving credit facilities as of September 30, 2024.

The Utility Registrants have credit facility agreements, arranged at minority and community banks, which may be utilized to issue letters of credit. The facility agreements have aggregate commitments of $40 million, $40 million, $15 million, $15 million, $15 million, and $15 million, at ComEd, PECO, BGE, Pepco, DPL, and ACE, respectively. These facilities expire on October 3, 2025.

See Note 16 — Debt and Credit Agreements of the 2023 Form 10-K for additional information on the Registrants' credit facilities.

Short-Term Loan Agreements

On March 23, 2017, Exelon Corporate entered into a term loan agreement for $500 million. The loan agreement was renewed in the first quarter of 2024 and was bifurcated into two tranches of $350 million and $150 million on March 14, 2024. The agreements will expire on March 14, 2025. Pursuant to the loan agreements, loans made thereunder bear interest at a variable rate equal to SOFR plus 1.05% and all indebtedness thereunder is unsecured. The loan agreement is reflected in Exelon's Consolidated Balance Sheets within Short-term borrowings.

On May 9, 2023, ComEd entered into a 364-day term loan agreement for $400 million with a variable rate equal to SOFR plus 1.00% and an expiration date of May 7, 2024. On May 1, 2024, ComEd entered into an agreement to extend the loan through the expiration date of June 28, 2024. The original proceeds from the loan were used to repay outstanding commercial paper obligations and for general corporate purposes. The balance of the loan was repaid on May 16, 2024. Refer to the Issuance of Long-term Debt Table below for further information.

Long-Term Debt

Issuance of Long-Term Debt

During the nine months ended September 30, 2024, the following long-term debt was issued:

Company

Type

Interest Rate

Maturity

Amount

Use of Proceeds

Exelon

Notes

5.15%

March 15, 2029

$650

Repay Exelon SMBC Term Loan, outstanding commercial paper, and for general corporate purposes.

Exelon

Notes

5.45%

March 15, 2034

$650

Repay Exelon SMBC Term Loan, outstanding commercial paper, and for general corporate purposes.

Exelon

Notes

5.60%

March 15, 2053

$400

Repay Exelon SMBC Term Loan, outstanding commercial paper, and for general corporate purposes.

ComEd

First Mortgage Bonds

5.30%

June 1, 2034

$400

Repay existing indebtedness, repay outstanding commercial paper obligations, and to fund other general corporate purposes.

ComEd

First Mortgage Bonds

5.65%

June 1, 2054

$400

Repay existing indebtedness, repay outstanding commercial paper obligations, and to fund other general corporate purposes.

PECO

First Mortgage Bonds

5.25%

September 15, 2054

$575

Refinance outstanding commercial paper and for general corporate purposes

BGE

Notes

5.30%

June 1, 2034

$400

Repay outstanding commercial paper obligations and for general corporate purposes

BGE

Notes

5.65%

June 1, 2054

$400

Repay outstanding commercial paper obligations and for general corporate purposes

Pepco

First Mortgage Bonds

5.20%

March 15, 2034

$375

Refinance existing indebtedness, refinance outstanding commercial paper obligations, and for general corporate purposes.

Pepco

First Mortgage Bonds

5.50%

March 15, 2054

$300

Refinance existing indebtedness, refinance outstanding commercial paper obligations, and for general corporate purposes.

DPL

First Mortgage Bonds

5.24%

March 20, 2034

$100

Repay existing indebtedness and for general corporate purposes.

DPL

First Mortgage Bonds

5.55%

March 20, 2054

$75

Repay existing indebtedness and for general corporate purposes.

ACE

First Mortgage Bonds

5.55%

March 20, 2054

$75

Repay existing indebtedness and for general corporate purposes.

ACE

First Mortgage Bonds

5.29%

August 28, 2034

$75

Repay existing indebtedness and for general corporate purposes.

ACE

First Mortgage Bonds

5.49%

August 28, 2039

$100

Repay existing indebtedness and for general corporate purposes.

Debt Covenants

As of September 30, 2024, the Registrants are in compliance with debt covenants.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
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-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - PECO - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Revenues from alternative revenue programs	$ (54)	$ 108	$ (29)	$ 513
Total operating revenues	6,154	5,980	17,557	16,360
Operating expenses
Operating and maintenance	1,275	1,187	3,756	3,535
Depreciation and amortization	908	890	2,681	2,616
Taxes other than income taxes	395	383	1,127	1,063
Total operating expenses	4,961	4,857	14,348	13,429
Gain on sales of assets	3	0	12	0
Operating income	1,196	1,123	3,221	2,931
Other income and (deductions)
Interest expense, net	(490)	(431)	(1,428)	(1,259)
Other, net	57	81	196	331
Total other income and (deductions)	(439)	(356)	(1,250)	(946)
Income before income taxes	757	767	1,971	1,985
Income taxes	50	67	158	274
Net income	707	700	1,813	1,711
Related Party
Other income and (deductions)
Interest expense to affiliates	(6)	(6)	(18)	(18)
PECO Energy Co
Operating revenues
Revenues from alternative revenue programs	5	11	3	1
Total operating revenues	1,030	1,037	2,975	2,977
Operating expenses
Operating and maintenance	251	217	695	622
Depreciation and amortization	108	100	318	297
Taxes other than income taxes	61	59	164	156
Total operating expenses	868	847	2,471	2,436
Gain on sales of assets	0	0	4	0
Operating income	162	190	508	541
Other income and (deductions)
Interest expense, net	(55)	(51)	(161)	(142)
Other, net	9	11	27	26
Total other income and (deductions)	(49)	(41)	(143)	(123)
Income before income taxes	113	149	365	418
Income taxes	(4)	3	9	8
Net income	117	146	356	410
Comprehensive income	117	146	356	410
PECO Energy Co \| Related Party
Operating revenues
Operating revenues from affiliates	4	2	7	6
Operating expenses
Operating and maintenance from affiliates	62	60	181	164
Other income and (deductions)
Interest expense to affiliates	(3)	(1)	(9)	(7)
Electricity, US Regulated
Operating revenues
Electric operating revenues	6,012	5,684	16,379	14,579
Operating expenses
Purchased power and/or fuel	2,349	2,364	6,483	5,766
Electricity, US Regulated \| PECO Energy Co
Operating revenues
Electric operating revenues	952	957	2,529	2,478
Operating expenses
Purchased power and/or fuel	372	396	977	994
Natural Gas, US Regulated
Operating revenues
Electric operating revenues	196	188	1,207	1,268
Operating expenses
Purchased power and/or fuel	34	33	301	449
Natural Gas, US Regulated \| PECO Energy Co
Operating revenues
Electric operating revenues	69	67	436	492
Operating expenses
Purchased power and/or fuel	$ 14	$ 15	$ 136	$ 203

Accounts Receivable (All Registrants)

9 Months Ended

Sep. 30, 2024

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Accounts Receivable (All Registrants)

Allowance for Credit Losses on Accounts Receivable

The following tables present the rollforward of Allowance for Credit Losses on Customer Accounts Receivable.


	Three Months Ended September 30, 2024
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at June 30, 2024	$	372	$	112	$	112	$	45	$	103	$	53	$	16	$	34
Plus: Current period provision for expected credit losses(a)(b)(c)	84		16		28		20		20		12		4		4
Less: Write-offs(d), net of recoveries(e)	30		7		5		5		13		7		3		3
Balance at September 30, 2024	$	426	$	121	$	135	$	60	$	110	$	58	$	17	$	35

	Three Months Ended September 30, 2023
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at June 30, 2023	$	323	$	67	$	101	$	50	$	105	$	50	$	21	$	34
Plus: Current period provision for expected credit losses	72		24		13		9		26		11		6		9
Less: Write-offs, net of recoveries	54		15		19		7		13		5		4		4
Balance at September 30, 2023	$	341	$	76	$	95	$	52	$	118	$	56	$	23	$	39

	Nine Months Ended September 30, 2024
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at December 31, 2023	$	317	$	69	$	95	$	46	$	107	$	52	$	19	$	36
Plus: Current period provision for expected credit losses(c)(f)(g)	221		77		63		34		47		30		8		9
Less: Write-offs(d)(h)(i), net of recoveries(e)	112		25		23		20		44		24		10		10
Balance at September 30, 2024	$	426	$	121	$	135	$	60	$	110	$	58	$	17	$	35

	Nine Months Ended September 30, 2023
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at December 31, 2022	$	327	$	59	$	105	$	54	$	109	$	47	$	21	$	41
Plus: Current period provision for expected credit losses	144		45		32		23		44		24		10		10
Less: Write-offs, net of recoveries	130		28		42		25		35		15		8		12
Balance at September 30, 2023	$	341	$	76	$	95	$	52	$	118	$	56	$	23	$	39

_________

(a)For PECO, the increase is primarily a result of increased aging of receivables.

(b)For BGE and ACE, the change is primarily a result of changes in customer risk profile. For BGE, also reflects increased receivable balances.

(c)For DPL, the decrease is primarily a result of decreased receivable balances.

(d)For PECO, the decrease is primarily a result of decreased disconnection activities.

(e)Recoveries were not material to the Registrants.

(f)For PECO and ComEd, the increase is primarily a result of increased aging of receivables.

(g)For BGE and Pepco, the increase is primarily a result of changes in customer risk profile. For BGE, also reflects increased receivable balances.

(h)For BGE, the decrease is primarily a result of increased collection activities.

(i)For Pepco and DPL, the increase is primarily attributable to unfavorable customer payment behavior.

The following tables present the rollforward of Allowance for Credit Losses on Other Accounts Receivable.


	Three Months Ended September 30, 2024
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at June 30, 2024	$	108	$	29	$	20	$	5	$	54	$	34	$	7	$	13
Plus: Current period provision (benefit) for expected credit losses(a)	7		10		1		3		(7)		(8)		—		1
Less: Write-offs, net of recoveries(b)	4		—		1		2		1		—		—		1
Balance at September 30, 2024	$	111	$	39	$	20	$	6	$	46	$	26	$	7	$	13

	Three Months Ended September 30, 2023
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at June 30, 2023	$	87	$	18	$	8	$	8	$	53	$	31	$	9	$	13
Plus: Current period provision (benefit) for expected credit losses	6		3		2		3		(2)		(2)		—		—
Less: Write-offs, net of recoveries	5		1		2		2		—		—		—		—
Balance at September 30, 2023	$	88	$	20	$	8	$	9	$	51	$	29	$	9	$	13

	Nine Months Ended September 30, 2024
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at December 31, 2023	$	82	$	17	$	8	$	7	$	50	$	28	$	8	$	14
Plus: Current period provision (benefit) for expected credit losses(a)(c)	43		25		15		4		(1)		(2)		(1)		2
Less: Write-offs, net of recoveries(b)	14		3		3		5		3		—		—		3
Balance at September 30, 2024	$	111	$	39	$	20	$	6	$	46	$	26	$	7	$	13

	Nine Months Ended September 30, 2023
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at December 31, 2022	$	82	$	17	$	9	$	10	$	46	$	25	$	7	$	14
Plus: Current period provision for expected credit losses	21		6		3		5		7		4		2		1
Less: Write-offs, net of recoveries	15		3		4		6		2		—		—		2
Balance at September 30, 2023	$	88	$	20	$	8	$	9	$	51	$	29	$	9	$	13

_________

(a)For Pepco, the decrease is primarily a result of decreased receivable balances.

(b)Recoveries were not material to the Registrants.

(c)For PECO and ComEd, the increase is primarily a result of increased aging of receivables.

Unbilled Customer Revenue

The following table provides additional information about unbilled customer revenues recorded in the Registrants' Consolidated Balance Sheets at September 30, 2024 and December 31, 2023.


	Unbilled customer revenues(a)
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
September 30, 2024	$	812	$	338	$	149	$	135	$	190	$	83	$	46	$	61
December 31, 2023	991		351		185		208		247		109		64		74

__________

(a)Unbilled customer revenues are classified in Customer accounts receivable, net in the Registrants' Consolidated Balance Sheets.

Other Purchases of Customer and Other Accounts Receivables

For the nine months ended September 30, 2024 and 2023 the Utility Registrants were required, under separate legislation and regulations in Illinois, Pennsylvania, Maryland, District of Columbia, Delaware, and New Jersey, to purchase certain receivables from alternative retail electric and, as applicable, natural gas suppliers that participated in the utilities' consolidated billing. The following table presents the total receivables purchased.


	Total receivables purchased
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Nine months ended September 30, 2024	$	3,177	$	750	$	854	$	606	$	967	$	607	$	191	$	169
Nine months ended September 30, 2023	3,124		726		843		628		927		600		174		153

Consolidated Balance Sheets (Unaudited) - ACE - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616	$ 445
Accounts receivable
Customer accounts receivable	2,971	2,659
Customer allowance for credit losses	(426)	(317)
Customer accounts receivable, net	2,545	2,342
Other accounts receivable	1,226	1,101
Other allowance for credit losses	(111)	(82)
Other accounts receivable, net	1,115	1,019
Inventory, net
Regulatory assets	1,869	2,215
Other	471	473
Total current assets	8,023	7,777
Property, plant and equipment, net	76,661	73,593
Deferred debits and other assets
Regulatory assets	8,657	8,698
Other	1,498	1,365
Total deferred debits and other assets	21,386	20,176
Total assets	106,070	101,546
Current liabilities
Short-term borrowings	1,031	2,523
Long-term debt due within one year	954	1,403
Accrued expenses	1,284	1,375
Customer deposits	432	411
Regulatory liabilities	430	389
Other	569	557
Total current liabilities	7,384	9,591
Long-term debt	43,701	39,692
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	12,551	11,956
Regulatory liabilities	10,563	9,576
Non-pension postretirement benefit obligations	528	527
Other	2,287	2,088
Total deferred credits and other liabilities	27,973	26,118
Total liabilities	79,448	75,791
Commitments and contingencies
Shareholders’ equity
Common stock	21,320	21,114
Retained earnings	6,161	5,490
Total shareholders’ equity	26,622	25,755
Total liabilities and shareholders’ equity	106,070	101,546
Related Party
Current liabilities
Accounts payable	5	5
Nonrelated Party
Current liabilities
Accounts payable	2,648	2,846
Atlantic City Electric Company
Current assets
Cash and cash equivalents	17	21
Accounts receivable
Customer accounts receivable	252	194
Customer allowance for credit losses	(35)	(36)
Customer accounts receivable, net	217	158
Other accounts receivable	98	92
Other allowance for credit losses	(13)	(14)
Other accounts receivable, net	85	78
Inventory, net
Inventories, net	60	55
Prepaid utility taxes	9	0
Regulatory assets	102	125
Other	7	5
Total current assets	502	445
Property, plant and equipment, net	4,300	4,192
Deferred debits and other assets
Regulatory assets	496	483
Prepaid pension asset	0	3
Other	31	34
Total deferred debits and other assets	527	520
Total assets	5,329	5,157
Current liabilities
Short-term borrowings	169	199
Long-term debt due within one year	4	154
Accrued expenses	42	42
Customer deposits	23	23
Regulatory liabilities	8	6
PPA termination obligation	10	49
Total current liabilities	446	702
Long-term debt	1,931	1,679
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	809	771
Regulatory liabilities	148	140
Non-pension postretirement benefit obligations	2	4
Other	63	49
Total deferred credits and other liabilities	1,022	964
Total liabilities	3,399	3,345
Commitments and contingencies
Shareholders’ equity
Common stock	1,915	1,830
Retained earnings	15	(18)
Total shareholders’ equity	1,930	1,812
Total liabilities and shareholders’ equity	5,329	5,157
Atlantic City Electric Company \| Related Party
Accounts receivable
Receivables from affiliates	5	3
Current liabilities
Accounts payable	19	25
Atlantic City Electric Company \| Nonrelated Party
Current liabilities
Accounts payable	162	192
Other	$ 9	$ 12

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2024

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation

The effective income tax rate from continuing operations varies from the U.S. federal statutory rate principally due to the following:


	Three Months Ended September 30, 2024(a)
	Exelon		ComEd(b)		PECO(c)		BGE(b)		PHI		Pepco		DPL		ACE
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	5.7		7.6		(2.1)		6.5		6.5		6.2		6.3		7.4
Plant basis differences	(4.8)		(0.8)		(19.5)		(0.8)		(0.8)		(1.2)		(0.8)		—
Excess deferred tax amortization	(14.0)		(16.6)		(2.6)		(18.6)		(5.5)		(6.7)		(5.9)		(1.6)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.1)		(0.1)
Tax credits	(0.9)		(2.6)		—		(0.6)		(0.6)		(0.5)		(0.6)		(0.5)
Other	(0.3)		0.6		(0.3)		0.8		0.1		(0.2)		0.4		0.3
Effective income tax rate	6.6	%	9.1	%	(3.5)	%	8.2	%	20.6	%	18.6	%	20.3	%	26.5	%


	Three Months Ended September 30, 2023(a)
	Exelon		ComEd		PECO(c)		BGE		PHI		Pepco		DPL		ACE
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit (d)	(2.7)		7.8		(1.2)		6.6		6.2		5.5		6.1		7.0
Plant basis differences	(4.4)		(0.4)		(15.6)		(0.2)		(1.5)		(2.4)		(0.9)		(0.5)
Excess deferred tax amortization	(6.4)		(5.3)		(2.4)		(5.4)		(8.0)		(9.2)		(10.0)		(3.1)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.1)		(0.1)
Tax credits	(0.5)		(1.2)		—		(2.0)		(0.5)		(0.6)		(0.4)		(0.3)
Other	1.8		0.2		0.2		(0.3)		0.3		0.6		—		0.5
Effective income tax rate	8.7	%	22.0	%	2.0	%	19.6	%	17.4	%	14.9	%	15.7	%	24.5	%

__________

(a)Positive percentages represent income tax expense. Negative percentages represent income tax benefit.

(c)For PECO, the lower effective tax rate is primarily related to plant basis differences attributable to tax repair deductions.

(d)For Exelon, the lower state income taxes, net of federal income tax expense, is primarily due to the long-term marginal state income tax rate change of $54 million.


	Nine Months Ended September 30, 2024(a)
	Exelon		ComEd(b)		PECO(c)		BGE(b)		PHI		Pepco		DPL		ACE
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit	5.8		7.7		(1.2)		6.3		6.5		6.2		6.2		7.4
Plant basis differences	(4.2)		(0.8)		(14.7)		(1.2)		(0.9)		(1.3)		(0.9)		0.1
Excess deferred tax amortization	(14.1)		(17.4)		(2.4)		(17.6)		(5.4)		(6.8)		(5.8)		(1.6)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.1)		(0.1)		—		—		(0.1)		—		(0.1)		(0.1)
Tax credits	(0.6)		(1.4)		—		(0.4)		(0.5)		(0.4)		(0.4)		(0.4)
Other	0.2		0.4		(0.2)		0.2		0.2		(0.1)		—		0.1
Effective income tax rate	8.0	%	9.4	%	2.5	%	8.3	%	20.8	%	18.6	%	20.0	%	26.5	%


	Nine Months Ended September 30, 2023(a)
	Exelon		ComEd		PECO(c)		BGE		PHI		Pepco		DPL		ACE
U.S. Federal statutory rate	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%	21.0	%
Increase (decrease) due to:
State income taxes, net of federal income tax benefit(d)	2.8		7.8		(1.3)		6.5		6.1		5.5		6.2		6.9
Plant basis differences	(4.3)		(0.4)		(15.5)		(0.5)		(1.6)		(2.5)		(1.0)		(0.5)
Excess deferred tax amortization	(6.6)		(5.5)		(2.4)		(5.4)		(7.7)		(9.2)		(9.4)		(2.6)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.1)		(0.1)		—		(0.1)		(0.1)		—		(0.1)		(0.1)
Tax credits	(0.5)		(0.7)		—		(0.7)		(0.6)		(0.7)		(0.4)		(0.3)
Other	1.5		0.1		0.1		0.2		0.3		0.6		—		0.3
Effective income tax rate	13.8	%	22.2	%	1.9	%	21.0	%	17.4	%	14.7	%	16.3	%	24.7	%

__________

(a)Positive percentages represent income tax expense. Negative percentages represent income tax benefit.

(c)For PECO, the lower effective tax rate is primarily related to plant basis differences attributable to tax repair deductions.

(d)For Exelon, the lower state income taxes, net of federal income tax expense, is primarily due to the long-term marginal state income tax rate change of $54 million.

Schedule of Unrecognized Tax Benefits Roll Forward

Exelon, PHI and ACE have the following unrecognized tax benefits at September 30, 2024 and December 31, 2023. ComEd's, PECO's, BGE's, Pepco's, and DPL's amounts are not material.


	Exelon(a)		PHI		ACE
September 30, 2024	$	85	$	38	$	1
December 31, 2023	94		51		15

__________

Allocation of Tax Benefits

The following table presents the allocation of tax benefits from Exelon under the Tax Sharing Agreement, for the three and nine months ended September 30, 2024, and 2023.


	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
September 30, 2024	$	30	$	15	$	14	$	16	$	9	$	5	$	2
September 30, 2023	$	13	$	19	$	—	$	10	$	4	$	—	$	2

Debt and Credit Agreements (All Registrants) - Commercial Paper Borrowings (Details) - Commercial Paper - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Short-term Debt [Line Items]
Commercial paper	$ 531	$ 1,624
Short-term debt, weighted average interest rate, at point in time	4.94%	5.58%
Corporate
Short-term Debt [Line Items]
Commercial paper	$ 240	$ 527
Commonwealth Edison Co
Short-term Debt [Line Items]
Commercial paper	$ 73	$ 202
Short-term debt, weighted average interest rate, at point in time	4.90%	5.53%
PECO Energy Co
Short-term Debt [Line Items]
Commercial paper	$ 0	$ 165
Short-term debt, weighted average interest rate, at point in time	0.00%	5.57%
Baltimore Gas and Electric Company
Short-term Debt [Line Items]
Commercial paper	$ 0	$ 336
Short-term debt, weighted average interest rate, at point in time	0.00%	5.59%
Pepco Holdings LLC
Short-term Debt [Line Items]
Commercial paper	$ 218	$ 394
Short-term debt, weighted average interest rate, at point in time	4.94%	5.60%
Potomac Electric Power Company
Short-term Debt [Line Items]
Commercial paper	$ 49	$ 132
Short-term debt, weighted average interest rate, at point in time	4.93%	5.59%
Delmarva Power and Light Company
Short-term Debt [Line Items]
Commercial paper	$ 0	$ 63
Short-term debt, weighted average interest rate, at point in time	0.00%	5.60%
Atlantic City Electric Company
Short-term Debt [Line Items]
Commercial paper	$ 169	$ 199
Short-term debt, weighted average interest rate, at point in time	4.94%	5.60%

Consolidated Statements of Changes in Shareholders Equity (Unaudited) - PECO - USD ($) $ in Millions	Total	Retained Earnings	PECO Energy Co	PECO Energy Co Common Stock	PECO Energy Co Retained Earnings
Beginning Balance at Dec. 31, 2022			$ 5,563	$ 3,702	$ 1,861
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 669	$ 669	166		166
Common stock dividends	(359)	(359)	(101)		(101)
Contributions from parent			330	330
Ending Balance at Mar. 31, 2023			5,958	4,032	1,926
Beginning Balance at Dec. 31, 2022			5,563	3,702	1,861
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,711		410
Ending Balance at Sep. 30, 2023			6,017	4,050	1,967
Beginning Balance at Mar. 31, 2023			5,958	4,032	1,926
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343	343	97		97
Common stock dividends	(359)	(359)	(101)		(101)
Ending Balance at Jun. 30, 2023			5,954	4,032	1,922
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	700	700	146		146
Common stock dividends	(358)	(358)	(101)		(101)
Contributions from parent			18	18
Ending Balance at Sep. 30, 2023			6,017	4,050	1,967
Beginning Balance at Dec. 31, 2023	25,755		6,069	4,050	2,019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	658	658	149		149
Common stock dividends	(381)	(381)	(100)		(100)
Contributions from parent			580	580
Ending Balance at Mar. 31, 2024			6,698	4,630	2,068
Beginning Balance at Dec. 31, 2023	25,755		6,069	4,050	2,019
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,813		356
Ending Balance at Sep. 30, 2024	26,622		6,720	4,645	2,075
Beginning Balance at Mar. 31, 2024			6,698	4,630	2,068
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	448	448	90		90
Common stock dividends	(380)	(380)	(100)		(100)
Ending Balance at Jun. 30, 2024			6,688	4,630	2,058
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	707	707	117		117
Common stock dividends	(381)	$ (381)	(100)		(100)
Contributions from parent			15	15
Ending Balance at Sep. 30, 2024	$ 26,622		$ 6,720	$ 4,645	$ 2,075

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481687/323-10-50-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Retirement Benefits - Calculation of Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amortization of:
Non-service net periodic benefit cost	$ (13)	$ (18)	$ (29)	$ (18)
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	43	39	125	116
Interest cost	141	145	423	434
Expected return on assets	(184)	(189)	(552)	(566)
Amortization of:
Prior service cost (credit)	1	1	2	2
Actuarial loss	53	41	160	125
Settlement charges	0	18	0	18
Non-service net periodic benefit cost	54	55	158	129
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	6	6	20	18
Interest cost	24	25	72	76
Expected return on assets	(21)	(21)	(63)	(63)
Amortization of:
Prior service cost (credit)	(2)	(2)	(6)	(7)
Actuarial loss	0	0	0	(1)
Settlement charges	0	0	0	0
Non-service net periodic benefit cost	$ 7	$ 8	$ 23	$ 23

Supplemental Financial Information (Tables)

9 Months Ended

Sep. 30, 2024

Supplemental Financial Information [Abstract]

Taxes Other Than Income Taxes

The following tables provide additional information about material items recorded in the Registrants' Consolidated Statements of Operations and Comprehensive Income:


	Taxes other than income taxes
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Three Months Ended September 30, 2024
Utility taxes(a)	$	248	$	80	$	51	$	25	$	92	$	84	$	7	$	1
Property	111		7		5		57		41		28		12		1
Payroll	33		9		4		5		7		2		1		—

Three Months Ended September 30, 2023
Utility taxes(a)	$	244	$	82	$	50	$	23	$	89	$	82	$	6	$	1
Property	104		9		4		53		38		25		12		1
Payroll	31		8		4		5		7		2		1		1

Nine Months Ended September 30, 2024
Utility taxes(a)	$	695	$	229	$	134	$	78	$	254	$	230	$	21	$	3
Property	323		25		14		164		119		81		35		2
Payroll	100		27		13		14		22		6		3		2

Nine Months Ended September 30, 2023
Utility taxes(a)	$	665	$	228	$	128	$	73	$	236	$	213	$	20	$	3
Property	300		27		12		153		108		73		34		1
Payroll	93		22		13		14		22		5		3		3

_________

(a)The Registrants' utility taxes represent municipal and state utility taxes and gross receipts taxes related to their operating revenues. The offsetting collection of utility taxes from customers is recorded in revenues in the Registrants’ Consolidated Statements of Operations and Comprehensive Income.

Schedule of Other Nonoperating Income, by Component


	Other, net
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Three Months Ended September 30, 2024
AFUDC — Equity	$	38	$	13	$	7	$	5	$	12	$	8	$	3	$	1
Non-service net periodic benefit cost	(13)		—		—		—		—		—		—		—

Three Months Ended September 30, 2023
AFUDC — Equity	$	40	$	7	$	10	$	4	$	19	$	15	$	3	$	1
Non-service net periodic benefit cost	(18)		—		—		—		—		—		—		—

Nine Months Ended September 30, 2024
AFUDC — Equity	$	116	$	32	$	24	$	18	$	42	$	32	$	9	$	1
Non-service net periodic benefit cost	(29)		—		—		—		—		—		—		—

Nine Months Ended September 30, 2023
AFUDC — Equity	$	113	$	25	$	22	$	11	$	55	$	42	$	7	$	6
Non-service net periodic benefit cost	(18)		—		—		—		—		—		—		—

Schedule of Cash Flow, Supplemental Disclosures

The following tables provide additional information about material items recorded in the Registrants' Consolidated Statements of Cash Flows.


	Depreciation, amortization, and accretion
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Nine Months Ended September 30, 2024
Property, plant, and equipment(a)	$	2,168	$	869	$	308	$	369	$	581	$	249	$	162	$	158
Amortization of regulatory assets and liabilities, net(a)	507		255		10		105		135		58		21		56
Amortization of intangible assets, net(a)	6		—		—		—		—		—		—		—


ARO accretion(b)	2		—		—		—		—		—		—		—
Total depreciation, amortization and accretion	$	2,683	$	1,124	$	318	$	474	$	716	$	307	$	183	$	214

Nine Months Ended September 30, 2023
Property, plant, and equipment(a)	$	2,073	$	815	$	287	$	381	$	550	$	232	$	155	$	145
Amortization of regulatory assets and liabilities, net(a)	537		230		10		106		191		97		27		67
Amortization of intangible assets, net(a)	6		—		—		—		—		—		—		—


ARO accretion(b)	—		—		—		—		—		—		—		—
Total depreciation and amortization	$	2,616	$	1,045	$	297	$	487	$	741	$	329	$	182	$	212

__________

(a)Included in Depreciation and amortization expense in the Registrants' Consolidated Statements of Operations and Comprehensive Income.

(b)Included in Operating and maintenance expense in Exelon's Consolidated Statements of Operations and Comprehensive Income.


	Other non-cash operating activities
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Nine Months Ended September 30, 2024
Pension and OPEB costs (benefit)	$	181	$	53	$	(1)	$	45	$	71	$	24	$	11	$	10
Allowance for credit losses	170		17		79		23		51		25		7		19


True-up adjustments to decoupling mechanisms and formula rates(a)	49		100		(3)		(28)		(20)		(42)		7		15





Amortization of operating ROU asset	28		—		—		5		19		4		6		2


AFUDC — Equity	(116)		(32)		(24)		(18)		(42)		(32)		(9)		(1)

Nine Months Ended September 30, 2023
Pension and OPEB costs (benefit)	$	152	$	19	$	(10)	$	41	$	74	$	26	$	13	$	10
Allowance for credit losses	86		4		31		4		47		27		9		11


True-up adjustments to decoupling mechanisms and formula rates(a)	(522)		(405)		(1)		(47)		(69)		(28)		(15)		(26)





Amortization of operating ROU asset	29		2		—		4		21		5		6		2

Change in environmental liabilities	37		—		—		—		37		37		—		—
AFUDC — Equity	(113)		(25)		(22)		(11)		(55)		(42)		(7)		(6)

__________

(a)For ComEd, reflects the true-up adjustments in Regulatory assets and liabilities associated with its distribution, energy efficiency, distributed generation, and transmission formula rates. For PECO, reflects the change in Regulatory assets and liabilities associated with its transmission formula rates. For BGE, Pepco, DPL, and ACE, reflects the change in Regulatory assets and liabilities associated with their decoupling mechanisms and transmission formula rates. See Note 3 — Regulatory Matters of the 2023 Form 10-K for additional information.

The following tables provide a reconciliation of cash, cash equivalents, and restricted cash reported within the Registrants’ Consolidated Balance Sheets that sum to the total of the same amounts in their Consolidated Statements of Cash Flows.


	Cash, cash equivalents, and restricted cash
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at September 30, 2024
Cash and cash equivalents	$	616	$	109	$	28	$	330	$	100	$	20	$	8	$	17
Restricted cash and cash equivalents	552		481		9		—		22		20		2		—
Restricted cash included in Other deferred debits and other assets	65		65		—		—		—		—		—		—
Total cash, restricted cash, and cash equivalents	$	1,233	$	655	$	37	$	330	$	122	$	40	$	10	$	17

Balance at December 31, 2023
Cash and cash equivalents	$	445	$	110	$	42	$	47	$	180	$	48	$	16	$	21
Restricted cash and cash equivalents	482		402		9		1		24		24		—		—
Restricted cash included in Other deferred debits and other assets	174		174		—		—		—		—		—		—
Total cash, restricted cash, and cash equivalents	$	1,101	$	686	$	51	$	48	$	204	$	72	$	16	$	21

Balance at September 30, 2023
Cash and cash equivalents	$	300	$	79	$	43	$	15	$	121	$	31	$	5	$	14
Restricted cash and cash equivalents	435		360		9		1		25		25		1		—
Restricted cash included in Other deferred debits and other assets	212		212		—		—		—		—		—		—
Total cash, restricted cash, and cash equivalents	$	947	$	651	$	52	$	16	$	146	$	56	$	6	$	14

Balance at December 31, 2022
Cash and cash equivalents	$	407	$	67	$	59	$	43	$	198	$	45	$	31	$	72
Restricted cash and cash equivalents	566		327		9		24		175		54		121		—
Restricted cash included in Other deferred debits and other assets	117		117		—		—		—		—		—		—

Total cash, restricted cash, and cash equivalents	$	1,090	$	511	$	68	$	67	$	373	$	99	$	152	$	72

For additional information on restricted cash see Note 1 — Significant Accounting Policies of the 2023 Form 10-K.

Consolidated Balance Sheet

The following table provides additional information about material items recorded in the Registrants' Consolidated Balance Sheets.


	Accrued expenses
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at September 30, 2024
Compensation-related accruals(a)	$	546	$	165	$	68	$	70	$	100	$	28	$	19	$	12
Taxes accrued	203		89		19		28		101		89		15		5
Interest accrued	431		92		55		74		85		38		27		18


Balance at December 31, 2023
Compensation-related accruals(a)	$	661	$	206	$	87	$	81	$	107	$	27	$	17	$	12
Taxes accrued	221		204		96		75		137		116		30		10
Interest accrued	414		148		49		44		72		38		13		15

__________

(a)Primarily includes accrued payroll, bonuses and other incentives, vacation, and benefits.

Debt and Credit Agreements (All Registrants) - Summary of Revolving Credit Agreements (Details) - Revolving Credit Facility $ in Millions	Sep. 30, 2024 USD ($)
Commonwealth Edison Co
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,000
Line of credit facility, interest rate at period end	1.00%
PECO Energy Co
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600
Line of credit facility, interest rate at period end	0.90%
Baltimore Gas and Electric Company
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600
Line of credit facility, interest rate at period end	0.90%
Potomac Electric Power Company
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 300
Line of credit facility, interest rate at period end	1.075%
Delmarva Power and Light Company
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 300
Line of credit facility, interest rate at period end	1.00%
Atlantic City Electric Company
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 300
Line of credit facility, interest rate at period end	1.00%
Corporate, Non-Segment
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 900
Line of credit facility, interest rate at period end	1.275%

Debt and Credit Agreements (All Registrants) - Narrative (Details) - USD ($)		9 Months Ended
	May 09, 2023	Sep. 30, 2024	Mar. 14, 2024	Mar. 23, 2017
Corporate, Non-Segment \| ShortTermDebt03232017
Short-term Debt [Line Items]
Short-term bank loans and notes payable				$ 500,000,000
Corporate, Non-Segment \| ShortTermDebtAmend2 Mar142024
Short-term Debt [Line Items]
Short-term bank loans and notes payable			$ 350,000,000
Debt instrument, interest rate terms		1.05%
Corporate, Non-Segment \| ShortTermDebtAmend7 Mar142024
Short-term Debt [Line Items]
Short-term bank loans and notes payable			$ 150,000,000
Debt instrument, interest rate terms		1.05%
Commonwealth Edison Co \| ShortTermDebtSOFRplus100May72024
Short-term Debt [Line Items]
Short-term bank loans and notes payable	$ 400,000,000
Debt instrument, interest rate terms	1.00%
Revolving Credit Facility \| Corporate, Non-Segment
Short-term Debt [Line Items]
Line of credit facility, maximum amount outstanding during period		$ 0
Line of credit facility, maximum borrowing capacity		900,000,000
Revolving Credit Facility \| Commonwealth Edison Co
Short-term Debt [Line Items]
Line of credit facility, maximum amount outstanding during period		0
Line of credit facility, maximum borrowing capacity		1,000,000,000
Revolving Credit Facility \| PECO Energy Co
Short-term Debt [Line Items]
Line of credit facility, maximum amount outstanding during period		0
Line of credit facility, maximum borrowing capacity		600,000,000
Revolving Credit Facility \| Baltimore Gas and Electric Company
Short-term Debt [Line Items]
Line of credit facility, maximum amount outstanding during period		0
Line of credit facility, maximum borrowing capacity		600,000,000
Revolving Credit Facility \| Potomac Electric Power Company
Short-term Debt [Line Items]
Line of credit facility, maximum amount outstanding during period		0
Line of credit facility, maximum borrowing capacity		300,000,000
Revolving Credit Facility \| Delmarva Power and Light Company
Short-term Debt [Line Items]
Line of credit facility, maximum amount outstanding during period		0
Line of credit facility, maximum borrowing capacity		300,000,000
Revolving Credit Facility \| Atlantic City Electric Company
Short-term Debt [Line Items]
Line of credit facility, maximum amount outstanding during period		0
Line of credit facility, maximum borrowing capacity		300,000,000
Letter of Credit \| Commonwealth Edison Co
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		40,000,000
Letter of Credit \| PECO Energy Co
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		40,000,000
Letter of Credit \| Baltimore Gas and Electric Company
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		15,000,000
Letter of Credit \| Potomac Electric Power Company
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		15,000,000
Letter of Credit \| Delmarva Power and Light Company
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		15,000,000
Letter of Credit \| Atlantic City Electric Company
Short-term Debt [Line Items]
Line of credit facility, maximum borrowing capacity		$ 15,000,000

Regulatory Matters - Schedule of Pending Rate Cases (Details) - USD ($) $ in Millions	Sep. 20, 2024	Sep. 11, 2024	Aug. 30, 2024	Aug. 13, 2024	Mar. 28, 2024	Feb. 27, 2024
Commonwealth Edison Co \| Illinois 2024 Refiled Grid Plan
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease), Amended				$ 667
Requested Return on Equity, Percentage				8.905%
Commonwealth Edison Co \| Illinois 2024 Refiled Grid Plan \| 2024
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease), Amended				$ 309
Commonwealth Edison Co \| Illinois 2024 Refiled Grid Plan \| 2025
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease), Amended				95
Commonwealth Edison Co \| Illinois 2024 Refiled Grid Plan \| 2026
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease), Amended				128
Commonwealth Edison Co \| Illinois 2024 Refiled Grid Plan \| 2027
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease), Amended				$ 135
Commonwealth Edison Co \| Illinois 2024 Electric Distribution Reconciliation Rate Case
Regulatory Matters Pending Rate Cases [Line Items]
Public Utilities Requested Rate Increase (Decrease), Prior Year Annual Reconciliation		$ 624
Requested Return on Equity, Percentage		9.89%
PECO Energy Co \| Pennsylvania 2024 Electric Distribution Base Rate Case
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)			$ 354		$ 464
Requested Return on Equity, Percentage					10.95%
PECO Energy Co \| Pennsylvania 2024 Electric Distribution Base Rate Case \| 2025
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)					$ (64)
PECO Energy Co \| Pennsylvania 2023 Natural Gas Distribution Base Rate Case
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)					$ 111
Requested Return on Equity, Percentage					11.15%
PECO Energy Co \| Pennsylvania 2024 Gas Distribution Base Rate Case
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)			$ 78
Potomac Electric Power Company \| District of Columbia 2023 Electric Distribution Base Rate Case
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease), Amended						$ 186
Requested Return on Equity, Percentage						10.50%
Potomac Electric Power Company \| District of Columbia 2023 Electric Distribution Base Rate Case \| 2024
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)						$ 116
Potomac Electric Power Company \| District of Columbia 2023 Electric Distribution Base Rate Case \| 2025
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)						35
Potomac Electric Power Company \| District of Columbia 2023 Electric Distribution Base Rate Case \| 2026
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)						$ 35
Delmarva Power and Light Company \| DPL 2024 Natural Gas Distribution Base Rate Case
Regulatory Matters Pending Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)	$ 36
Requested Return on Equity, Percentage	10.65%

Derivative Financial Instruments (All Registrants)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments (All Registrants)

The Registrants use derivative instruments to manage commodity price risk and interest rate risk related to ongoing business operations. The Registrants do not execute derivatives for speculative or proprietary trading purposes.

Authoritative guidance requires that derivative instruments be recognized as either assets or liabilities at fair value, with changes in fair value of the derivative recognized in earnings immediately. Other accounting treatments are available through special election and designation, provided they meet specific, restrictive criteria both at the time of designation and on an ongoing basis. These alternative permissible accounting treatments include NPNS, cash flow hedges, and fair value hedges. At ComEd, derivative economic hedges related to commodities are recorded at fair value and offset by a corresponding regulatory asset or liability. At Exelon, derivative economic hedges related to interest rates are recorded at fair value and offsets are recorded to Electric operating revenues or Interest expense based on the activity the transaction is economically hedging. For all NPNS derivative instruments, accounts receivable or accounts payable are recorded when derivatives settle and revenue or expense is recognized in earnings as the underlying physical commodity is sold or consumed. At Exelon, derivative hedges that qualify and are designated as cash flow hedges are recorded at fair value and offsets are recorded to AOCI.

ComEd’s use of cash collateral is generally unrestricted unless ComEd is downgraded below investment grade. Cash collateral held by PECO, BGE, Pepco, DPL, and ACE must be deposited in an unaffiliated major U.S. commercial bank or foreign bank with a U.S. branch office that meets certain qualifications.

Commodity Price Risk

The Utility Registrants employ established policies and procedures to manage their risks associated with market fluctuations in commodity prices by entering into physical and financial derivative contracts, which are either determined to be non-derivative or classified as economic hedges. The Utility Registrants procure electric and natural gas supply through a competitive procurement process approved by each of the respective state utility commissions. The Utility Registrants’ hedging programs are intended to reduce exposure to energy and natural gas price volatility and have no direct earnings impact as the costs are fully recovered from customers through regulatory-approved recovery mechanisms. The following table provides a summary of the Utility Registrants’ primary derivative hedging instruments, listed by commodity and accounting treatment.


Registrant	Commodity	Accounting Treatment	Hedging Instrument
ComEd	Electricity	NPNS	Fixed price contracts based on all requirements in the IPA procurement plans.
	Electricity	Changes in fair value of economic hedge recorded to an offsetting regulatory asset or liability(a)	20-year floating-to-fixed energy swap contracts beginning June 2012 based on the renewable energy resource procurement requirements in the Illinois Settlement Legislation of approximately 1.3 million MWhs per year.
PECO	Electricity	NPNS	Fixed price contracts for default supply requirements through full requirements contracts.
	Gas	NPNS	Fixed price contracts to cover about 10% of planned natural gas purchases in support of projected firm sales.
BGE	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
	Gas	NPNS	Fixed price purchases associated with forecasted gas supply requirements.
Pepco	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
DPL	Electricity	NPNS	Fixed price contracts for all SOS requirements through full requirements contracts.
	Gas	NPNS	Fixed and index priced contracts through full requirements contracts.
	Gas	Changes in fair value of economic hedge recorded to an offsetting regulatory asset or liability(b)	Exchange traded future contracts for up to 50% of estimated monthly purchase requirements each month, including purchases for storage injections.
ACE	Electricity	NPNS	Fixed price contracts for all BGS requirements through full requirements contracts.

__________

(a)See Note 3 — Regulatory Matters of the 2023 Form 10-K for additional information.

(b)The fair value of the DPL economic hedge is not material at September 30, 2024 and December 31, 2023.

The fair value of derivative economic hedges is presented in Other current assets and current and noncurrent Mark-to-market derivative liabilities in Exelon's and ComEd's Consolidated Balance Sheets.

Interest Rate and Other Risk (Exelon)

Exelon Corporate uses a combination of fixed-rate and variable-rate debt to manage interest rate exposure. Exelon Corporate may utilize interest rate derivatives to lock in rate levels in anticipation of future financings, which are typically designated as cash flow hedges. In addition, Exelon Corporate utilized interest rate swaps to manage interest rate exposure and manage potential fluctuations in Electric operating revenues at the corporate level in consolidation. These interest rate swaps are accounted for as economic hedges. A hypothetical 50 basis point change in the interest rates associated with Exelon's interest rate swaps as of September 30, 2024 would result in an immaterial impact to Exelon's Consolidated Net Income.

Below is a summary of the interest rate hedge balances at September 30, 2024 and December 31, 2023.


	September 30, 2024
	Derivatives Designated as Hedging Instruments		Economic Hedges		Total




Mark-to-market derivative liabilities (noncurrent liabilities)	$	(39)	—		$	(39)
Total mark-to-market derivative liabilities	(39)		—		(39)
Total mark-to-market derivative net liabilities	$	(39)	$	—	$	(39)


	December 31, 2023
	Derivatives Designated as Hedging Instruments		Economic Hedges		Total
Other current assets	$	11	$	1	$	12

Total derivative assets	11		1		12
Mark-to-market derivative liabilities (current liabilities)	(24)		(22)		(46)

Total mark-to-market derivative liabilities	(24)		(22)		(46)
Total mark-to-market derivative net liabilities	$	(13)	$	(21)	$	(34)

Cash Flow Hedges (Interest Rate Risk)

For derivative instruments that qualify and are designated as cash flow hedges, the changes in fair value each period are initially recorded in AOCI and reclassified into earnings when the underlying transaction affects earnings.

In February 2024, Exelon terminated the previously issued floating-to-fixed swaps with a total notional of $1.3 billion upon issuance of $1.7 billion of debt. See Note 9 – Debt and Credit Agreements for additional information on the debt issuance. Prior to the termination, the 2024 year-to-date AOCI derivative gain was $33 million (net of tax). The settlements resulted in a cash receipt of $30 million. The accumulated AOCI gain of $23 million (net of tax) is being amortized into Interest expense in Exelon's Consolidated Statement of Operations and Comprehensive Income over the 5-year and 10-year terms of the swaps. During the third quarter of 2024, Exelon Corporate entered into $205 million notional of 5-year maturity floating-to-fixed swaps and $205 million notional of 10-year maturity floating-to-fixed swaps, for a total notional of $410 million designated as cash flow hedges. The following table provides the notional amounts outstanding held by Exelon at September 30, 2024 and December 31, 2023.


	September 30, 2024		December 31, 2023
5-year maturity floating-to-fixed swaps	$	602	$	655
10-year maturity floating-to-fixed swaps	603		655
Total	$	1,205	$	1,310

The related AOCI derivative loss for the three and nine months ended September 30, 2024 was $29 million and $30 million (net of tax), respectively. The related AOCI derivative gain for the three and nine months ended September 30, 2023 was $22 million and $31 million (net of tax), respectively. See Note 13 – Changes in Accumulated Other Comprehensive Income (Loss) for additional information.

Economic Hedges (Interest Rate and Other Risk)

Exelon Corporate executes derivative instruments to mitigate exposure to fluctuations in interest rates but for which the fair value or cash flow hedge elections were not made. For derivatives intended to serve as economic hedges, fair value is recorded on the balance sheet and changes in fair value each period are recognized in earnings or as a regulatory asset or liability, if regulatory requirements are met, each period.

Exelon Corporate entered into floating-to-fixed interest rate cap swaps to manage a portion of interest rate exposure in connection with existing borrowings. As of December 31, 2023, Exelon held $1,000 million notional

of floating-to-fixed interest rate cap swaps, which matured in March 2024. Exelon received payments on the interest rate cap when the floating rate exceeded the fixed rate. Settlements received were immaterial.

Additionally, to manage potential fluctuations in Electric operating revenues related to ComEd's distribution formula rate, Exelon Corporate entered into a total $4,875 million of notional of 30-year constant maturity treasury interest rate (Corporate 30-year treasury) swaps from 2022 through 2023. The Corporate 30-year treasury swaps matured on December 31, 2023 and Exelon recorded a Mark-to-market liability of $22 million for the final settlement amount, which was paid in January 2024.


	Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
Income Statement Location	Gain (Loss)		Gain (Loss)
Electric operating revenues	$	—	$	(21)
Interest expense	—		1
Total	$	—	$	(20)

Credit Risk

The Registrants would be exposed to credit-related losses in the event of non-performance by counterparties on executed derivative instruments. The credit exposure of derivative contracts, before collateral, is represented by the fair value of contracts at the reporting date. The Utility Registrants have contracts to procure electric and natural gas supply that provide suppliers with a certain amount of unsecured credit. If the exposure on the supply contract exceeds the amount of unsecured credit, the suppliers may be required to post collateral. The net credit exposure is mitigated primarily by the ability to recover procurement costs through customer rates. The amount of cash collateral received from external counterparties remained relatively consistent as of September 30, 2024 due to stable energy prices. The following table reflects the Registrants' cash collateral held from external counterparties, which is recorded in Other current liabilities on their respective Consolidated Balance Sheets, as of September 30, 2024 and December 31, 2023:


	September 30, 2024		December 31, 2023
Exelon	$	170	$	148
ComEd	167		146
PECO(a)	—		—
BGE	1		1
PHI	2		1
Pepco(b)	—		1
DPL	2		—
ACE(a)	—		—

__________

(a)PECO and ACE had less than one million in cash collateral held with external parties at September 30, 2024 and December 31, 2023.

(b)Pepco had less than one million in cash collateral held with external parties at September 30, 2024.

The Utility Registrants’ electric supply procurement contracts do not contain provisions that would require them to post collateral. PECO’s, BGE’s, and DPL’s natural gas procurement contracts contain provisions that could require PECO, BGE, and DPL to post collateral in the form of cash or credit support, which vary by contract and counterparty, with thresholds contingent upon PECO’s, BGE's, and DPL’s credit rating. As of September 30, 2024, PECO, BGE, and DPL were not required to post collateral for any of these agreements. If PECO, BGE, or DPL lost their investment grade credit rating as of September 30, 2024, they could have been required to post collateral to their counterparties of $18 million, $37 million, and $9 million, respectively.

Cover Page	9 Months Ended
Cover Page	Sep. 30, 2024 shares
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-16169
Entity Registrant Name	EXELON CORPORATION
Entity Tax Identification Number	23-2990190
Entity Incorporation, State or Country Code	PA
Entity Address, Address Line One	10 South Dearborn Street
Entity Address, Address Line Two	P.O. Box 805379
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60680-5379
City Area Code	(800)
Local Phone Number	483-3220
Title of 12(b) Security	Common stock, without par value
Trading Symbol	EXC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	1,004,833,655
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001109357
Amendment Flag	false
Commonwealth Edison Co
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-01839
Entity Registrant Name	COMMONWEALTH EDISON COMPANY
Entity Tax Identification Number	36-0938600
Entity Incorporation, State or Country Code	IL
Entity Address, Address Line One	10 South Dearborn Street
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60603-2300
City Area Code	(312)
Local Phone Number	394-4321
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	127,021,416
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000022606
Amendment Flag	false
PECO Energy Co
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	000-16844
Entity Registrant Name	PECO ENERGY COMPANY
Entity Tax Identification Number	23-0970240
Entity Incorporation, State or Country Code	PA
Entity Address, Address Line One	P.O. Box 8699
Entity Address, Address Line Two	2301 Market Street
Entity Address, City or Town	Philadelphia
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19101-8699
City Area Code	(215)
Local Phone Number	841-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	170,478,507
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000078100
Amendment Flag	false
Baltimore Gas and Electric Company
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-01910
Entity Registrant Name	BALTIMORE GAS AND ELECTRIC COMPANY
Entity Tax Identification Number	52-0280210
Entity Incorporation, State or Country Code	MD
Entity Address, Address Line One	2 Center Plaza
Entity Address, Address Line Two	110 West Fayette Street
Entity Address, City or Town	Baltimore
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21201-3708
City Area Code	(410)
Local Phone Number	234-5000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	1,000
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000009466
Amendment Flag	false
Pepco Holdings LLC
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-31403
Entity Registrant Name	PEPCO HOLDINGS LLC
Entity Tax Identification Number	52-2297449
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	701 Ninth Street, N.W.
Entity Address, City or Town	Washington
Entity Address, State or Province	DC
Entity Address, Postal Zip Code	20068-0001
City Area Code	(202)
Local Phone Number	872-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001135971
Amendment Flag	false
Potomac Electric Power Company
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-01072
Entity Registrant Name	POTOMAC ELECTRIC POWER COMPANY
Entity Tax Identification Number	53-0127880
Entity Address, Address Line One	701 Ninth Street, N.W.
Entity Address, City or Town	Washington
Entity Address, State or Province	DC
Entity Address, Postal Zip Code	20068-0001
City Area Code	(202)
Local Phone Number	872-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	100
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000079732
Amendment Flag	false
Delmarva Power and Light Company
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-01405
Entity Registrant Name	DELMARVA POWER & LIGHT COMPANY
Entity Tax Identification Number	51-0084283
Entity Address, Address Line One	500 North Wakefield Drive
Entity Address, City or Town	Newark
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19702-5440
City Area Code	(202)
Local Phone Number	872-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	1,000
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000027879
Amendment Flag	false
Atlantic City Electric Company
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-03559
Entity Registrant Name	ATLANTIC CITY ELECTRIC COMPANY
Entity Tax Identification Number	21-0398280
Entity Incorporation, State or Country Code	NJ
Entity Address, Address Line One	500 North Wakefield Drive
Entity Address, City or Town	Newark
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19702-5440
City Area Code	(202)
Local Phone Number	872-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock Shares Outstanding	8,546,017
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000008192
Amendment Flag	false
DISTRICT OF COLUMBIA \| Potomac Electric Power Company
Document Information [Line Items]
Entity Incorporation, State or Country Code	DC
VIRGINIA \| Potomac Electric Power Company
Document Information [Line Items]
Entity Incorporation, State or Country Code	VA
VIRGINIA \| Delmarva Power and Light Company
Document Information [Line Items]
Entity Incorporation, State or Country Code	VA
DELAWARE \| Delmarva Power and Light Company
Document Information [Line Items]
Entity Incorporation, State or Country Code	DE

Debt and Credit Agreements (All Registrants) - Issuance of Long-Term Debt (Details) $ in Millions	Sep. 30, 2024 USD ($)
Corporate \| Notes515DueMar2029 \| Notes Payable to Banks
Debt Instrument [Line Items]
Interest Rate	5.15%
Amount	$ 650
Corporate \| Notes545DueMar2034 \| Notes Payable to Banks
Debt Instrument [Line Items]
Interest Rate	5.45%
Amount	$ 650
Corporate \| Note560DueMar2053 \| Notes Payable to Banks
Debt Instrument [Line Items]
Interest Rate	5.60%
Amount	$ 400
Commonwealth Edison Co \| Notes530DueJune2034 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.30%
Amount	$ 400
Commonwealth Edison Co \| Notes565DueJune2054 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.65%
Amount	$ 400
PECO Energy Co \| Notes525DueSeptember2054 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.25%
Amount	$ 575
Baltimore Gas and Electric Company \| Notes530DueJune2034 \| Notes Payable to Banks
Debt Instrument [Line Items]
Interest Rate	5.30%
Amount	$ 400
Baltimore Gas and Electric Company \| Notes565DueJune2054 \| Notes Payable to Banks
Debt Instrument [Line Items]
Interest Rate	5.65%
Amount	$ 400
Potomac Electric Power Company \| Note520DueMar2034 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.20%
Amount	$ 375
Potomac Electric Power Company \| Notes550DueMar2054 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.50%
Amount	$ 300
Delmarva Power and Light Company \| Notes524DueMar2034 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.24%
Amount	$ 100
Delmarva Power and Light Company \| Notes555DueMar2054 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.55%
Amount	$ 75
Atlantic City Electric Company \| Notes555DueMar2054 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.55%
Amount	$ 75
Atlantic City Electric Company \| Notes529DueAug2034 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.29%
Amount	$ 75
Atlantic City Electric Company \| Notes549DueAug2039 \| First Mortgage Bonds
Debt Instrument [Line Items]
Interest Rate	5.49%
Amount	$ 100

Consolidated Balance Sheets (Unaudited) - ComEd - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616	$ 445
Restricted cash and cash equivalents	552	482
Accounts receivable
Customer accounts receivable	2,971	2,659
Customer allowance for credit losses	(426)	(317)
Customer accounts receivable, net	2,545	2,342
Other accounts receivable	1,226	1,101
Other allowance for credit losses	(111)	(82)
Other accounts receivable, net	1,115	1,019
Inventories, net
Regulatory assets	1,869	2,215
Other	471	473
Total current assets	8,023	7,777
Property, plant and equipment, net	76,661	73,593
Deferred debits and other assets
Regulatory assets	8,657	8,698
Goodwill	6,630	6,630
Receivable related to Regulatory Agreement Units	4,322	3,232
Investments	279	251
Other	1,498	1,365
Total deferred debits and other assets	21,386	20,176
Total assets	106,070	101,546
Current liabilities
Short-term borrowings	1,031	2,523
Long-term debt due within one year	954	1,403
Accrued expenses	1,284	1,375
Customer deposits	432	411
Regulatory liabilities	430	389
Mark-to-market derivative liabilities	25	74
Other	569	557
Total current liabilities	7,384	9,591
Long-term debt	43,701	39,692
Long-term debt to financing trusts	390	390
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	12,551	11,956
Regulatory liabilities	10,563	9,576
Asset retirement obligations	289	267
Non-pension postretirement benefit obligations	528	527
Mark-to-market derivative liabilities	180	106
Other	2,287	2,088
Total deferred credits and other liabilities	27,973	26,118
Total liabilities	79,448	75,791
Commitments and contingencies
Shareholders’ equity
Common stock	21,320	21,114
Retained earnings	6,161	5,490
Total shareholders’ equity	26,622	25,755
Total liabilities and shareholders’ equity	106,070	101,546
Related Party
Current liabilities
Accounts payable	5	5
Long-term debt to financing trusts	390	390
Nonrelated Party
Current liabilities
Accounts payable	2,648	2,846
Commonwealth Edison Co
Current assets
Cash and cash equivalents	109	110
Restricted cash and cash equivalents	481	402
Accounts receivable
Customer accounts receivable	1,116	860
Customer allowance for credit losses	(121)	(69)
Customer accounts receivable, net	995	791
Other accounts receivable	321	242
Other allowance for credit losses	(39)	(17)
Other accounts receivable, net	282	225
Inventories, net
Inventories, net	294	279
Regulatory assets	1,050	1,335
Other	151	123
Total current assets	3,366	3,268
Property, plant and equipment, net	29,874	29,088
Deferred debits and other assets
Regulatory assets	2,665	2,794
Goodwill	2,625	2,625
Receivable related to Regulatory Agreement Units	3,983	2,954
Investments	6	6
Prepaid pension asset	1,180	1,217
Total deferred debits and other assets	11,478	10,471
Total assets	44,718	42,827
Current liabilities
Short-term borrowings	73	602
Long-term debt due within one year	0	250
Accrued expenses	367	576
Customer deposits	127	118
Regulatory liabilities	247	191
Mark-to-market derivative liabilities	25	27
Total current liabilities	1,951	2,922
Long-term debt	12,028	11,236
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	5,539	5,327
Regulatory liabilities	8,592	7,493
Asset retirement obligations	165	149
Non-pension postretirement benefit obligations	166	161
Mark-to-market derivative liabilities	140	106
Other	1,210	865
Total deferred credits and other liabilities	15,812	14,101
Total liabilities	29,997	28,464
Commitments and contingencies
Shareholders’ equity
Common stock	1,588	1,588
Other paid-in capital	10,518	10,401
Retained earnings	2,615	2,374
Total shareholders’ equity	14,721	14,363
Total liabilities and shareholders’ equity	44,718	42,827
Commonwealth Edison Co \| Related Party
Accounts receivable
Receivables from affiliates	4	3
Current liabilities
Accounts payable	116	72
Long-term debt to financing trusts	206	205
Commonwealth Edison Co \| Nonrelated Party
Deferred debits and other assets
Other	1,019	875
Current liabilities
Accounts payable	736	867
Other	$ 260	$ 219

Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2024

BSC and PHISCO Service Companies

The following table presents the service company costs allocated to the Registrants:


	Operating and maintenance from affiliates								Capitalized costs
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023		2024		2023		2024		2023
Exelon
BSC									$	141	$	162	$	458	$	502
PHISCO									27		25		85		74
ComEd
BSC	$	102	$	92	$	306	$	263	55		71		189		230
PECO
BSC	61		55		180		160		23		29		81		89
BGE
BSC	61		58		182		166		25		23		74		69
PHI
BSC	46		50		145		135		38		39		114		114
PHISCO	—		—		—		—		27		24		85		73
Pepco
BSC	29		30		92		85		16		13		51		41
PHISCO	28		31		94		91		12		9		36		30

DPL
BSC	19		19		58		54		11		12		36		32
PHISCO	24		24		75		73		8		7		25		22

ACE
BSC	16		16		48		45		9		13		24		39
PHISCO	23		23		71		67		7		7		24		20

Current Receivables From/Payables To Affiliates

The following tables present current Receivables from affiliates and current Payables to affiliates:

September 30, 2024


				Receivables from affiliates:
	Payables to affiliates:			ComEd			PECO			BGE			Pepco			DPL			ACE			BSC			PHISCO			Other			Total
ComEd					$	1		$	—		$	—		$	—		$	—		$	57		$	—		$	58		$	116
PECO		$	—					—			—			—						30			—			6			36
BGE		1			—						—			—			—			32			—			15			48
PHI		—			—			—			—			—			—			6			1			10			17
Pepco		—			—			—						—			—			17			13			1			31
DPL		—			—			—			—						—			10			10			1			21
ACE		—			—			—			—			—						8			10			1			19
Other		3			—			—			—			—			5			—			—						8
Total		$	4		$	1		$	—		$	—		$	—		$	5		$	160		$	34		$	92		$	296

December 31, 2023


				Receivables from affiliates:
	Payables to affiliates:			ComEd			PECO			BGE			Pepco			DPL			ACE			BSC			PHISCO			Other			Total
ComEd					$	—		$	—		$	—		$	—		$	—		$	64		$	—		$	8		$	72
PECO		$	—					—			—			—			—			36			—			3			39
BGE		—			—						—			—			—			33			—			2			35
PHI		—			—			—			—			—			—			5			—			10			15
Pepco		—			—			—						—			—			17			14			1			32
DPL		—			1			—			—						—			12			11			1			25
ACE		—			1			—			1			1						11			11			—			25
Other		3			—			—			1			—			3			1			—						8
Total		$	3		$	2		$	—		$	2		$	1		$	3		$	179		$	36		$	25		$	251

Long Term Debt to Financing Trusts

The following table presents Long-term debt to financing trusts:


	September 30, 2024						December 31, 2023
	Exelon		ComEd		PECO		Exelon		ComEd		PECO
ComEd Financing III	$	206	$	206	$	—	$	206	$	205	$	—
PECO Trust III	81		—		81		81		—		81
PECO Trust IV	103		—		103		103		—		103
Total	$	390	$	206	$	184	$	390	$	205	$	184

Statements of Cash Flows (Unaudited) - DPL - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,813	$ 1,711
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	2,683	2,616
Deferred income taxes and amortization of investment tax credits	102	210
Other non-cash operating activities	441	(237)
Changes in assets and liabilities:
Accounts receivable	(489)	82
Inventories	(57)	(8)
Accounts payable and accrued expenses	(309)	(454)
Collateral received (paid), net	21	(183)
Income taxes	(18)	50
Regulatory assets and liabilities, net	194	(395)
Payment for Pension and Other Postretirement Benefits	(140)	(97)
Other assets and liabilities	(87)	(24)
Net cash flows provided by operating activities	4,143	3,292
Cash flows from investing activities
Capital expenditures	(5,161)	(5,540)
Net cash flows used in investing activities	(5,114)	(5,515)
Cash flows from financing activities
Changes in short-term borrowings	(1,093)	(1,116)
Issuance of long-term debt	4,975	5,300
Repayments of Long-Term Debt	(1,336)	(1,209)
Dividends paid on common stock	(1,142)	(1,074)
Other financing activities	(83)	(101)
Net cash flows provided by financing activities	1,103	2,080
Decrease in cash, restricted cash, and cash equivalents	132	(143)
Cash, restricted cash, and cash equivalents at beginning of period	1,101	1,090
Cash, restricted cash, and cash equivalents at end of period	1,233	947
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	6	(169)
Delmarva Power and Light Company
Cash flows from operating activities
Net income	156	128
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	183	182
Deferred income taxes and amortization of investment tax credits	12	4
Other non-cash operating activities	29	11
Changes in assets and liabilities:
Accounts receivable	(1)	9
Receivables from and payables to affiliates, net	(3)	3
Inventories	(17)	2
Accounts payable and accrued expenses	14	(1)
Collateral received (paid), net	2	(120)
Income taxes	(25)	15
Regulatory assets and liabilities, net	(41)	33
Payment for Pension and Other Postretirement Benefits	(1)	0
Other assets and liabilities	19	8
Net cash flows provided by operating activities	327	274
Cash flows from investing activities
Capital expenditures	(404)	(416)
Changes in PHI intercompany money pool	0	(10)
Net cash flows used in investing activities	(404)	(426)
Cash flows from financing activities
Changes in short-term borrowings	(63)	(115)
Issuance of long-term debt	175	125
Repayments of Long-Term Debt	(33)	0
Dividends paid on common stock	(162)	(97)
Contributions from parent	160	99
Other financing activities	(6)	(6)
Net cash flows provided by financing activities	71	6
Decrease in cash, restricted cash, and cash equivalents	(6)	(146)
Cash, restricted cash, and cash equivalents at beginning of period	16	152
Cash, restricted cash, and cash equivalents at end of period	10	6
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	$ 9	$ 0

Consolidated Balance Sheets - PECO (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accumulated depreciation and amortization	$ 18,227	$ 17,251
PECO Energy Co
Accumulated depreciation and amortization	$ 4,003	$ 4,097

Supplemental Financial Information - Cash Flow (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Depreciation, Amortization and Accretion [Abstract]
Property, plant and equipment			$ 2,168	$ 2,073
Amortization of regulatory assets			507	537
Amortization of intangible assets, net			6	6
Accretion expense			2	0
Depreciation and amortization			2,683	2,616
Other Non-Cash Operating Activities [Abstract]
Pension and non-pension postretirement benefit costs			181	152
Allowance for credit losses			170	86
True-up adjustments to decoupling mechanisms and formula rates	$ (54)	$ 108	(29)	513
Amortization of operating ROU asset			28	29
Change in environmental liabilities				37
AFUDC - Equity	(38)	(40)	(116)	(113)
Other Non-Cash Activity
Other Non-Cash Operating Activities [Abstract]
True-up adjustments to decoupling mechanisms and formula rates			49	(522)
Return on borrowed funds
Other Non-Cash Operating Activities [Abstract]
AFUDC - Equity			(116)	(113)
Commonwealth Edison Co
Depreciation, Amortization and Accretion [Abstract]
Property, plant and equipment			869	815
Amortization of regulatory assets			255	230
Amortization of intangible assets, net			0	0
Accretion expense			0	0
Depreciation and amortization			1,124	1,045
Other Non-Cash Operating Activities [Abstract]
Pension and non-pension postretirement benefit costs			53	19
Allowance for credit losses			17	4
True-up adjustments to decoupling mechanisms and formula rates	(76)	135	(100)	405
Amortization of operating ROU asset			0	2
Change in environmental liabilities				0
AFUDC - Equity	(13)	(7)	(32)	(25)
Commonwealth Edison Co \| Other Non-Cash Activity
Other Non-Cash Operating Activities [Abstract]
True-up adjustments to decoupling mechanisms and formula rates			100	(405)
Commonwealth Edison Co \| Return on borrowed funds
Other Non-Cash Operating Activities [Abstract]
AFUDC - Equity			(32)	(25)
PECO Energy Co
Depreciation, Amortization and Accretion [Abstract]
Property, plant and equipment			308	287
Amortization of regulatory assets			10	10
Amortization of intangible assets, net			0	0
Accretion expense			0	0
Depreciation and amortization			318	297
Other Non-Cash Operating Activities [Abstract]
Pension and non-pension postretirement benefit costs			(1)	(10)
Allowance for credit losses			79	31
True-up adjustments to decoupling mechanisms and formula rates	5	11	3	1
Amortization of operating ROU asset			0	0
Change in environmental liabilities				0
AFUDC - Equity	(7)	(10)	(24)	(22)
PECO Energy Co \| Other Non-Cash Activity
Other Non-Cash Operating Activities [Abstract]
True-up adjustments to decoupling mechanisms and formula rates			(3)	(1)
PECO Energy Co \| Return on borrowed funds
Other Non-Cash Operating Activities [Abstract]
AFUDC - Equity			(24)	(22)
Baltimore Gas and Electric Company
Depreciation, Amortization and Accretion [Abstract]
Property, plant and equipment			369	381
Amortization of regulatory assets			105	106
Amortization of intangible assets, net			0	0
Accretion expense			0	0
Depreciation and amortization			474	487
Other Non-Cash Operating Activities [Abstract]
Pension and non-pension postretirement benefit costs			45	41
Allowance for credit losses			23	4
True-up adjustments to decoupling mechanisms and formula rates	9	(22)	28	47
Amortization of operating ROU asset			5	4
Change in environmental liabilities				0
AFUDC - Equity	(5)	(4)	(18)	(11)
Baltimore Gas and Electric Company \| Other Non-Cash Activity
Other Non-Cash Operating Activities [Abstract]
True-up adjustments to decoupling mechanisms and formula rates			(28)	(47)
Baltimore Gas and Electric Company \| Return on borrowed funds
Other Non-Cash Operating Activities [Abstract]
AFUDC - Equity			(18)	(11)
Pepco Holdings LLC
Depreciation, Amortization and Accretion [Abstract]
Property, plant and equipment			581	550
Amortization of regulatory assets			135	191
Amortization of intangible assets, net			0	0
Accretion expense			0	0
Depreciation and amortization			716	741
Other Non-Cash Operating Activities [Abstract]
Pension and non-pension postretirement benefit costs			71	74
Allowance for credit losses			51	47
True-up adjustments to decoupling mechanisms and formula rates	8	(15)	40	59
Amortization of operating ROU asset			19	21
Change in environmental liabilities				37
AFUDC - Equity	(12)	(19)	(42)	(55)
Pepco Holdings LLC \| Other Non-Cash Activity
Other Non-Cash Operating Activities [Abstract]
True-up adjustments to decoupling mechanisms and formula rates			(20)	(69)
Pepco Holdings LLC \| Return on borrowed funds
Other Non-Cash Operating Activities [Abstract]
AFUDC - Equity			(42)	(55)
Potomac Electric Power Company
Depreciation, Amortization and Accretion [Abstract]
Property, plant and equipment			249	232
Amortization of regulatory assets			58	97
Amortization of intangible assets, net			0	0
Accretion expense			0	0
Depreciation and amortization			307	329
Other Non-Cash Operating Activities [Abstract]
Pension and non-pension postretirement benefit costs			24	26
Allowance for credit losses			25	27
True-up adjustments to decoupling mechanisms and formula rates	5	(18)	42	28
Amortization of operating ROU asset			4	5
Change in environmental liabilities				37
AFUDC - Equity	(8)	(15)	(32)	(42)
Potomac Electric Power Company \| Other Non-Cash Activity
Other Non-Cash Operating Activities [Abstract]
True-up adjustments to decoupling mechanisms and formula rates			(42)	(28)
Potomac Electric Power Company \| Return on borrowed funds
Other Non-Cash Operating Activities [Abstract]
AFUDC - Equity			(32)	(42)
Delmarva Power and Light Company
Depreciation, Amortization and Accretion [Abstract]
Property, plant and equipment			162	155
Amortization of regulatory assets			21	27
Amortization of intangible assets, net			0	0
Accretion expense			0	0
Depreciation and amortization			183	182
Other Non-Cash Operating Activities [Abstract]
Pension and non-pension postretirement benefit costs			11	13
Allowance for credit losses			7	9
True-up adjustments to decoupling mechanisms and formula rates	(3)	(2)	1	10
Amortization of operating ROU asset			6	6
Change in environmental liabilities				0
AFUDC - Equity	(3)	(3)	(9)	(7)
Delmarva Power and Light Company \| Other Non-Cash Activity
Other Non-Cash Operating Activities [Abstract]
True-up adjustments to decoupling mechanisms and formula rates			7	(15)
Delmarva Power and Light Company \| Return on borrowed funds
Other Non-Cash Operating Activities [Abstract]
AFUDC - Equity			(9)	(7)
Atlantic City Electric Company
Depreciation, Amortization and Accretion [Abstract]
Property, plant and equipment			158	145
Amortization of regulatory assets			56	67
Amortization of intangible assets, net			0	0
Accretion expense			0	0
Depreciation and amortization			214	212
Other Non-Cash Operating Activities [Abstract]
Pension and non-pension postretirement benefit costs			10	10
Allowance for credit losses			19	11
True-up adjustments to decoupling mechanisms and formula rates	6	5	(3)	21
Amortization of operating ROU asset			2	2
Change in environmental liabilities				0
AFUDC - Equity	$ (1)	$ (1)	(1)	(6)
Atlantic City Electric Company \| Other Non-Cash Activity
Other Non-Cash Operating Activities [Abstract]
True-up adjustments to decoupling mechanisms and formula rates			15	(26)
Atlantic City Electric Company \| Return on borrowed funds
Other Non-Cash Operating Activities [Abstract]
AFUDC - Equity			$ (1)	$ (6)

Supplemental Financial Information (All Registrants)

9 Months Ended

Sep. 30, 2024

Supplemental Financial Information [Abstract]

Supplemental Financial Information (All Registrants)

Supplemental Statement of Operations Information

The following tables provide additional information about material items recorded in the Registrants' Consolidated Statements of Operations and Comprehensive Income:


	Taxes other than income taxes
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Three Months Ended September 30, 2024
Utility taxes(a)	$	248	$	80	$	51	$	25	$	92	$	84	$	7	$	1
Property	111		7		5		57		41		28		12		1
Payroll	33		9		4		5		7		2		1		—

Three Months Ended September 30, 2023
Utility taxes(a)	$	244	$	82	$	50	$	23	$	89	$	82	$	6	$	1
Property	104		9		4		53		38		25		12		1
Payroll	31		8		4		5		7		2		1		1

Nine Months Ended September 30, 2024
Utility taxes(a)	$	695	$	229	$	134	$	78	$	254	$	230	$	21	$	3
Property	323		25		14		164		119		81		35		2
Payroll	100		27		13		14		22		6		3		2

Nine Months Ended September 30, 2023
Utility taxes(a)	$	665	$	228	$	128	$	73	$	236	$	213	$	20	$	3
Property	300		27		12		153		108		73		34		1
Payroll	93		22		13		14		22		5		3		3

_________


	Other, net
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Three Months Ended September 30, 2024
AFUDC — Equity	$	38	$	13	$	7	$	5	$	12	$	8	$	3	$	1
Non-service net periodic benefit cost	(13)		—		—		—		—		—		—		—

Three Months Ended September 30, 2023
AFUDC — Equity	$	40	$	7	$	10	$	4	$	19	$	15	$	3	$	1
Non-service net periodic benefit cost	(18)		—		—		—		—		—		—		—

Nine Months Ended September 30, 2024
AFUDC — Equity	$	116	$	32	$	24	$	18	$	42	$	32	$	9	$	1
Non-service net periodic benefit cost	(29)		—		—		—		—		—		—		—

Nine Months Ended September 30, 2023
AFUDC — Equity	$	113	$	25	$	22	$	11	$	55	$	42	$	7	$	6
Non-service net periodic benefit cost	(18)		—		—		—		—		—		—		—

Supplemental Cash Flow Information

The following tables provide additional information about material items recorded in the Registrants' Consolidated Statements of Cash Flows.


	Depreciation, amortization, and accretion
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Nine Months Ended September 30, 2024
Property, plant, and equipment(a)	$	2,168	$	869	$	308	$	369	$	581	$	249	$	162	$	158
Amortization of regulatory assets and liabilities, net(a)	507		255		10		105		135		58		21		56
Amortization of intangible assets, net(a)	6		—		—		—		—		—		—		—


ARO accretion(b)	2		—		—		—		—		—		—		—
Total depreciation, amortization and accretion	$	2,683	$	1,124	$	318	$	474	$	716	$	307	$	183	$	214

Nine Months Ended September 30, 2023
Property, plant, and equipment(a)	$	2,073	$	815	$	287	$	381	$	550	$	232	$	155	$	145
Amortization of regulatory assets and liabilities, net(a)	537		230		10		106		191		97		27		67
Amortization of intangible assets, net(a)	6		—		—		—		—		—		—		—


ARO accretion(b)	—		—		—		—		—		—		—		—
Total depreciation and amortization	$	2,616	$	1,045	$	297	$	487	$	741	$	329	$	182	$	212

__________

(a)Included in Depreciation and amortization expense in the Registrants' Consolidated Statements of Operations and Comprehensive Income.

(b)Included in Operating and maintenance expense in Exelon's Consolidated Statements of Operations and Comprehensive Income.


	Other non-cash operating activities
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Nine Months Ended September 30, 2024
Pension and OPEB costs (benefit)	$	181	$	53	$	(1)	$	45	$	71	$	24	$	11	$	10
Allowance for credit losses	170		17		79		23		51		25		7		19


True-up adjustments to decoupling mechanisms and formula rates(a)	49		100		(3)		(28)		(20)		(42)		7		15





Amortization of operating ROU asset	28		—		—		5		19		4		6		2


AFUDC — Equity	(116)		(32)		(24)		(18)		(42)		(32)		(9)		(1)

Nine Months Ended September 30, 2023
Pension and OPEB costs (benefit)	$	152	$	19	$	(10)	$	41	$	74	$	26	$	13	$	10
Allowance for credit losses	86		4		31		4		47		27		9		11


True-up adjustments to decoupling mechanisms and formula rates(a)	(522)		(405)		(1)		(47)		(69)		(28)		(15)		(26)





Amortization of operating ROU asset	29		2		—		4		21		5		6		2

Change in environmental liabilities	37		—		—		—		37		37		—		—
AFUDC — Equity	(113)		(25)		(22)		(11)		(55)		(42)		(7)		(6)

__________


	Cash, cash equivalents, and restricted cash
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at September 30, 2024
Cash and cash equivalents	$	616	$	109	$	28	$	330	$	100	$	20	$	8	$	17
Restricted cash and cash equivalents	552		481		9		—		22		20		2		—
Restricted cash included in Other deferred debits and other assets	65		65		—		—		—		—		—		—
Total cash, restricted cash, and cash equivalents	$	1,233	$	655	$	37	$	330	$	122	$	40	$	10	$	17

Balance at December 31, 2023
Cash and cash equivalents	$	445	$	110	$	42	$	47	$	180	$	48	$	16	$	21
Restricted cash and cash equivalents	482		402		9		1		24		24		—		—
Restricted cash included in Other deferred debits and other assets	174		174		—		—		—		—		—		—
Total cash, restricted cash, and cash equivalents	$	1,101	$	686	$	51	$	48	$	204	$	72	$	16	$	21

Balance at September 30, 2023
Cash and cash equivalents	$	300	$	79	$	43	$	15	$	121	$	31	$	5	$	14
Restricted cash and cash equivalents	435		360		9		1		25		25		1		—
Restricted cash included in Other deferred debits and other assets	212		212		—		—		—		—		—		—
Total cash, restricted cash, and cash equivalents	$	947	$	651	$	52	$	16	$	146	$	56	$	6	$	14

Balance at December 31, 2022
Cash and cash equivalents	$	407	$	67	$	59	$	43	$	198	$	45	$	31	$	72
Restricted cash and cash equivalents	566		327		9		24		175		54		121		—
Restricted cash included in Other deferred debits and other assets	117		117		—		—		—		—		—		—

Total cash, restricted cash, and cash equivalents	$	1,090	$	511	$	68	$	67	$	373	$	99	$	152	$	72

For additional information on restricted cash see Note 1 — Significant Accounting Policies of the 2023 Form 10-K.

Supplemental Balance Sheet Information

The following table provides additional information about material items recorded in the Registrants' Consolidated Balance Sheets.


	Accrued expenses
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at September 30, 2024
Compensation-related accruals(a)	$	546	$	165	$	68	$	70	$	100	$	28	$	19	$	12
Taxes accrued	203		89		19		28		101		89		15		5
Interest accrued	431		92		55		74		85		38		27		18


Balance at December 31, 2023
Compensation-related accruals(a)	$	661	$	206	$	87	$	81	$	107	$	27	$	17	$	12
Taxes accrued	221		204		96		75		137		116		30		10
Interest accrued	414		148		49		44		72		38		13		15

__________

(a)Primarily includes accrued payroll, bonuses and other incentives, vacation, and benefits.

Book Overdrafts (BGE)

Book overdrafts representing outstanding checks in excess of funds on deposit are included in Other current liabilities on the Registrants' Consolidated Balance Sheet. The balance of BGE's book overdrafts was $48 million and $9 million as of September 30, 2024 and December 31, 2023, respectively.

Debt and Credit Agreements (All Registrants) (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Commercial Paper Borrowings

The following table reflects the Registrants' commercial paper programs supported by the revolving credit agreements at September 30, 2024 and December 31, 2023.


	Outstanding Commercial Paper at				Average Interest Rate on Commercial Paper Borrowings at
Commercial Paper Issuer	September 30, 2024		December 31, 2023		September 30, 2024		December 31, 2023
Exelon(a)	$	531	$	1,624	4.94	%	5.58	%
ComEd	$	73	$	202	4.90	%	5.53	%
PECO	$	—	$	165	—	%	5.57	%
BGE	$	—	$	336	—	%	5.59	%
PHI(b)	$	218	$	394	4.94	%	5.60	%

Pepco	$	49	$	132	4.93	%	5.59	%
DPL	$	—	$	63	—	%	5.60	%
ACE	$	169	$	199	4.94	%	5.60	%

__________

(a)Exelon Corporate had $240 million and $527 million in outstanding commercial paper borrowings at September 30, 2024 and December 31, 2023, respectively.

(b)Represents the consolidated amounts of Pepco, DPL, and ACE.

Schedule of Revolving Credit Agreements


Borrower	Aggregate Bank Commitment		Interest Rate
Exelon Corporate	$	900	SOFR plus 1.275	%
ComEd	$	1,000	SOFR plus 1.000	%
PECO	$	600	SOFR plus 0.900	%
BGE	$	600	SOFR plus 0.900	%
Pepco	$	300	SOFR plus 1.075	%
DPL	$	300	SOFR plus 1.000	%
ACE	$	300	SOFR plus 1.000	%

Schedule of Long-term Debt Instruments

During the nine months ended September 30, 2024, the following long-term debt was issued:

Company

Type

Interest Rate

Maturity

Amount

Use of Proceeds

Exelon

Notes

5.15%

March 15, 2029

$650

Repay Exelon SMBC Term Loan, outstanding commercial paper, and for general corporate purposes.

Exelon

Notes

5.45%

March 15, 2034

$650

Repay Exelon SMBC Term Loan, outstanding commercial paper, and for general corporate purposes.

Exelon

Notes

5.60%

March 15, 2053

$400

Repay Exelon SMBC Term Loan, outstanding commercial paper, and for general corporate purposes.

ComEd

First Mortgage Bonds

5.30%

June 1, 2034

$400

Repay existing indebtedness, repay outstanding commercial paper obligations, and to fund other general corporate purposes.

ComEd

First Mortgage Bonds

5.65%

June 1, 2054

$400

Repay existing indebtedness, repay outstanding commercial paper obligations, and to fund other general corporate purposes.

PECO

First Mortgage Bonds

5.25%

September 15, 2054

$575

Refinance outstanding commercial paper and for general corporate purposes

BGE

Notes

5.30%

June 1, 2034

$400

Repay outstanding commercial paper obligations and for general corporate purposes

BGE

Notes

5.65%

June 1, 2054

$400

Repay outstanding commercial paper obligations and for general corporate purposes

Pepco

First Mortgage Bonds

5.20%

March 15, 2034

$375

Refinance existing indebtedness, refinance outstanding commercial paper obligations, and for general corporate purposes.

Pepco

First Mortgage Bonds

5.50%

March 15, 2054

$300

Refinance existing indebtedness, refinance outstanding commercial paper obligations, and for general corporate purposes.

DPL

First Mortgage Bonds

5.24%

March 20, 2034

$100

Repay existing indebtedness and for general corporate purposes.

DPL

First Mortgage Bonds

5.55%

March 20, 2054

$75

Repay existing indebtedness and for general corporate purposes.

ACE

First Mortgage Bonds

5.55%

March 20, 2054

$75

Repay existing indebtedness and for general corporate purposes.

ACE

First Mortgage Bonds

5.29%

August 28, 2034

$75

Repay existing indebtedness and for general corporate purposes.

ACE

First Mortgage Bonds

5.49%

August 28, 2039

$100

Repay existing indebtedness and for general corporate purposes.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

Statements of Operations and Comprehensive Income (Unaudited) - Pepco - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Revenues from alternative revenue programs	$ (54)	$ 108	$ (29)	$ 513
Total operating revenues	6,154	5,980	17,557	16,360
Operating expenses
Operating and maintenance	1,275	1,187	3,756	3,535
Depreciation and amortization	908	890	2,681	2,616
Taxes other than income taxes	395	383	1,127	1,063
Total operating expenses	4,961	4,857	14,348	13,429
Gain on sales of assets	3	0	12	0
Operating income	1,196	1,123	3,221	2,931
Other income and (deductions)
Interest expense, net	(490)	(431)	(1,428)	(1,259)
Other, net	57	81	196	331
Total other income and (deductions)	(439)	(356)	(1,250)	(946)
Income before income taxes	757	767	1,971	1,985
Income taxes	50	67	158	274
Net income	707	700	1,813	1,711
Related Party
Other income and (deductions)
Interest expense to affiliates	(6)	(6)	(18)	(18)
Potomac Electric Power Company
Operating revenues
Revenues from alternative revenue programs	5	(18)	42	28
Total operating revenues	861	822	2,320	2,174
Operating expenses
Operating and maintenance	82	89	206	264
Depreciation and amortization	102	112	307	329
Taxes other than income taxes	114	109	317	291
Total operating expenses	650	658	1,824	1,810
Operating income	211	164	496	364
Other income and (deductions)
Interest expense, net	(50)	(41)	(142)	(122)
Other, net	11	18	43	50
Total other income and (deductions)	(39)	(23)	(99)	(72)
Income before income taxes	172	141	397	292
Income taxes	32	21	74	43
Net income	140	120	323	249
Comprehensive income	140	120	323	249
Potomac Electric Power Company \| Related Party
Operating revenues
Operating revenues from affiliates	2	1	5	5
Operating expenses
Operating and maintenance from affiliates	58	60	186	176
Electricity, US Regulated
Operating revenues
Electric operating revenues	6,012	5,684	16,379	14,579
Operating expenses
Purchased power and/or fuel	2,349	2,364	6,483	5,766
Electricity, US Regulated \| Potomac Electric Power Company
Operating revenues
Electric operating revenues	854	839	2,273	2,141
Operating expenses
Purchased power and/or fuel	294	288	808	750
Natural Gas, US Regulated
Operating revenues
Electric operating revenues	196	188	1,207	1,268
Operating expenses
Purchased power and/or fuel	$ 34	$ 33	$ 301	$ 449

Regulatory Matters - Energy Efficiency Formula Rate (Details) - Commonwealth Edison Co $ in Millions			9 Months Ended
	May 30, 2024 USD ($)	Feb. 03, 2022	Sep. 30, 2023
Schedule of Energy Efficiency Formula Rate Updates [Line Items]
Basis points for ComEd's Revenue Requirement		580
ComEd 2024 Energy Efficiency Formula Rate
Schedule of Energy Efficiency Formula Rate Updates [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount	$ 66
Public Utilities Requested Rate Increase (Decrease), Prior Year Annual Reconciliation	(8)
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount	$ 58
Public Utilities, Requested Equity Capital Structure, Percentage	7.02%
Requested Return on Equity, Percentage	9.89%
ComEd 2024 Energy Efficiency Formula Rate \| 2024
Schedule of Energy Efficiency Formula Rate Updates [Line Items]
Basis points for ComEd's Revenue Requirement	580
ComEd 2023 Energy Efficiency Formula Rate
Schedule of Energy Efficiency Formula Rate Updates [Line Items]
Public Utilities, Approved Equity Capital Structure, Percentage			7.25%
Public Utilities, Approved Return on Equity, Percentage			10.34%

Retirement Benefits (All Registrants)

9 Months Ended

Sep. 30, 2024

Retirement Benefits [Abstract]

Retirement Benefits (All Registrants)

Defined Benefit Pension and OPEB

The majority of the 2024 pension benefit cost for the Exelon-sponsored plans is calculated using an expected long-term rate of return on plan assets of 7.00% and a discount rate of 5.19%. The majority of the 2024 OPEB cost is calculated using an expected long-term rate of return on plan assets of 6.50% for funded plans and a discount rate of 5.17%.

During the first quarter of 2024, Exelon received an updated valuation of its pension and OPEB to reflect actual census data as of January 1, 2024. This valuation resulted in an increase to the pension obligation of $98 million and a decrease to the OPEB obligation of $1 million. Additionally, AOCI increased by $25 million (after-tax) and regulatory assets and liabilities increased by $66 million and $2 million, respectively.


	Pension Benefits				OPEB
	Three Months Ended September 30,				Three Months Ended September 30,
	2024		2023		2024		2023
Components of net periodic benefit cost
Service cost	$	43	$	39	$	6	$	6
Interest cost	141		145		24		25
Expected return on assets	(184)		(189)		(21)		(21)
Amortization of:
Prior service cost (credit)	1		1		(2)		(2)
Actuarial loss	53		41		—		—

Settlement charges	—		18		—		—
Net periodic benefit cost	$	54	$	55	$	7	$	8

	Pension Benefits				OPEB
	Nine Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Components of net periodic benefit cost
Service cost	$	125	$	116	$	20	$	18
Interest cost	423		434		72		76
Expected return on assets	(552)		(566)		(63)		(63)
Amortization of:
Prior service cost (credit)	2		2		(6)		(7)
Actuarial loss (gain)	160		125		—		(1)

Settlement charges	—		18		—		—
Net periodic benefit cost	$	158	$	129	$	23	$	23


	Three Months Ended September 30,				Nine Months Ended September 30,
Pension and OPEB Costs (Benefit)	2024		2023		2024		2023
Exelon	$	61	$	63	$	181	$	152
ComEd	17		6		53		19
PECO	(1)		(3)		(1)		(10)
BGE	14		14		45		42
PHI	25		25		71		74
Pepco	8		9		24		26
DPL	4		4		11		13
ACE	3		3		10		10

Defined Contribution Savings Plan


	Three Months Ended September 30,				Nine Months Ended September 30,
Savings Plan Employer Contributions	2024		2023		2024		2023
Exelon	$	25	$	27	$	76	$	74
ComEd	12		12		32		31
PECO	3		3		11		10
BGE	2		3		8		8
PHI	4		5		12		13
Pepco	1		1		3		3
DPL	1		1		3		3
ACE	1		1		2		2

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 70
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
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-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Related Party Transactions (All Registrants)

9 Months Ended

Sep. 30, 2024

Service Company Costs for Corporate Support

The Registrants receive a variety of corporate support services from BSC. Pepco, DPL, and ACE also receive corporate support services from PHISCO. See Note 1 — Significant Accounting Policies for additional information regarding BSC and PHISCO.

The following table presents the service company costs allocated to the Registrants:


	Operating and maintenance from affiliates								Capitalized costs
	Three Months Ended September 30,				Nine Months Ended September 30,				Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023		2024		2023		2024		2023
Exelon
BSC									$	141	$	162	$	458	$	502
PHISCO									27		25		85		74
ComEd
BSC	$	102	$	92	$	306	$	263	55		71		189		230
PECO
BSC	61		55		180		160		23		29		81		89
BGE
BSC	61		58		182		166		25		23		74		69
PHI
BSC	46		50		145		135		38		39		114		114
PHISCO	—		—		—		—		27		24		85		73
Pepco
BSC	29		30		92		85		16		13		51		41
PHISCO	28		31		94		91		12		9		36		30

DPL
BSC	19		19		58		54		11		12		36		32
PHISCO	24		24		75		73		8		7		25		22

ACE
BSC	16		16		48		45		9		13		24		39
PHISCO	23		23		71		67		7		7		24		20

Current Receivables from/Payables to Affiliates

The following tables present current Receivables from affiliates and current Payables to affiliates:

September 30, 2024


				Receivables from affiliates:
	Payables to affiliates:			ComEd			PECO			BGE			Pepco			DPL			ACE			BSC			PHISCO			Other			Total
ComEd					$	1		$	—		$	—		$	—		$	—		$	57		$	—		$	58		$	116
PECO		$	—					—			—			—						30			—			6			36
BGE		1			—						—			—			—			32			—			15			48
PHI		—			—			—			—			—			—			6			1			10			17
Pepco		—			—			—						—			—			17			13			1			31
DPL		—			—			—			—						—			10			10			1			21
ACE		—			—			—			—			—						8			10			1			19
Other		3			—			—			—			—			5			—			—						8
Total		$	4		$	1		$	—		$	—		$	—		$	5		$	160		$	34		$	92		$	296

December 31, 2023


				Receivables from affiliates:
	Payables to affiliates:			ComEd			PECO			BGE			Pepco			DPL			ACE			BSC			PHISCO			Other			Total
ComEd					$	—		$	—		$	—		$	—		$	—		$	64		$	—		$	8		$	72
PECO		$	—					—			—			—			—			36			—			3			39
BGE		—			—						—			—			—			33			—			2			35
PHI		—			—			—			—			—			—			5			—			10			15
Pepco		—			—			—						—			—			17			14			1			32
DPL		—			1			—			—						—			12			11			1			25
ACE		—			1			—			1			1						11			11			—			25
Other		3			—			—			1			—			3			1			—						8
Total		$	3		$	2		$	—		$	2		$	1		$	3		$	179		$	36		$	25		$	251

Borrowings from Exelon/PHI intercompany money pool

To provide an additional short-term borrowing option that will generally be more favorable to the borrowing participants than the cost of external financing both Exelon and PHI operate an intercompany money pool. PECO and PHI Corporate participate in the Exelon intercompany money pool. Pepco, DPL, and ACE participate in the PHI intercompany money pool.

Long-term debt to financing trusts

The following table presents Long-term debt to financing trusts:


	September 30, 2024						December 31, 2023
	Exelon		ComEd		PECO		Exelon		ComEd		PECO
ComEd Financing III	$	206	$	206	$	—	$	206	$	205	$	—
PECO Trust III	81		—		81		81		—		81
PECO Trust IV	103		—		103		103		—		103
Total	$	390	$	206	$	184	$	390	$	205	$	184

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

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+ Details

Revenue from Contracts with Customers (All Registrants)

9 Months Ended

Sep. 30, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers (All Registrants)

The Registrants recognize revenue from contracts with customers to depict the transfer of goods or services to customers at an amount that the entities expect to be entitled to in exchange for those goods or services. The primary sources of revenue include regulated electric and gas tariff sales, distribution, and transmission services.

See Note 4 — Revenue from Contracts with Customers of the 2023 Form 10-K for additional information regarding the primary sources of revenue for the Registrants.

Contract Liabilities

The Registrants record contract liabilities when consideration is received or due prior to the satisfaction of the performance obligations. The Registrants record contract liabilities in Other current liabilities and Other noncurrent deferred credits and other liabilities in their Consolidated Balance Sheets.

For Pepco, DPL, and ACE these contract liabilities primarily relate to upfront consideration received in the third quarter of 2020 for a collaborative arrangement ("Agreement") with an unrelated owner and manager of communication infrastructure, as well as additional consideration received for the payment option amendment ("Amendment") executed during the fourth quarter of 2023, which is discussed in further detail within Note 4 — Revenue from Contracts with Customers of the 2023 Form 10-K. The contract liability balance attributable to the Agreement and the Amendment is being recognized as Electric operating revenues over a 35 year period and 31 year period, respectively.



	Exelon(a)		PHI(a)		Pepco(a)		DPL		ACE
Balance at December 31, 2023	$	133	$	133	$	107	$	13	$	13
Revenues recognized	(2)		(2)		(2)		—		—
Balance at March 31, 2024	$	131	$	131	$	105	$	13	$	13
Revenues recognized	(1)		(1)		(1)		—		—
Balance at June 30, 2024	$	130	$	130	$	104	$	13	$	13
Revenues recognized	(2)		(2)		(2)		—		—
Balance at September 30, 2024	$	128	$	128	$	102	$	13	$	13

	Exelon(a)		PHI(a)		Pepco(a)		DPL		ACE
Balance at December 31, 2022	$	101	$	101	$	81	$	10	$	10
Revenues recognized	(1)		(1)		(1)		—		—
Balance at March 31, 2023	$	100	$	100	$	80	$	10	$	10
Revenues recognized	(2)		(2)		(2)		—		—
Balance at June 30, 2023	$	98	$	98	$	78	$	10	$	10
Revenues recognized	(2)		(2)		(1)		—		(1)
Balance at September 30, 2023	$	96	$	96	$	77	$	10	$	9

__________

(a)Revenues recognized in the three and nine months ended September 30, 2024 and 2023, were included in the contract liabilities at December 31, 2023 and 2022, respectively.

Transaction Price Allocated to Remaining Performance Obligations


Year	Exelon		PHI		Pepco		DPL		ACE
2024	$	1	$	1	$	1	$	—	$	—
2025	7		7		5		1		1
2026	6		6		5		1		—
2027	5		5		5		—		—
2028 and thereafter	109		109		86		11		12
Total	$	128	$	128	$	102	$	13	$	13

Revenue Disaggregation

The Registrants disaggregate revenue recognized from contracts with customers into categories that depict how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors. See Note 4 — Segment Information for the presentation of the Registrants' revenue disaggregation.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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+ Details

Consolidated Statements of Changes in Shareholders Equity (Unaudited) - ComEd - USD ($) $ in Millions	Total	Retained Earnings	Commonwealth Edison Co	Commonwealth Edison Co Common Stock	Commonwealth Edison Co Other Paid-in-Capital [Member]	Commonwealth Edison Co Retained Earnings
Beginning Balance at Dec. 31, 2022			$ 13,364	$ 1,588	$ 9,746	$ 2,030
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 669	$ 669	241			241
Common stock dividends	(359)	(359)	(187)			(187)
Contributions from parent			186		186
Ending Balance at Mar. 31, 2023			13,604	1,588	9,932	2,084
Beginning Balance at Dec. 31, 2022			13,364	1,588	9,746	2,030
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,711		822
Ending Balance at Sep. 30, 2023			14,198	1,588	10,316	2,294
Beginning Balance at Mar. 31, 2023			13,604	1,588	9,932	2,084
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343	343	249			249
Common stock dividends	(359)	(359)	(187)			(187)
Contributions from parent			186		186
Ending Balance at Jun. 30, 2023			13,852	1,588	10,118	2,146
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	700	700	333			333
Common stock dividends	(358)	(358)	(185)			(185)
Contributions from parent			198		198
Ending Balance at Sep. 30, 2023			14,198	1,588	10,316	2,294
Beginning Balance at Dec. 31, 2023	25,755		14,363	1,588	10,401	2,374
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	658	658	193			193
Common stock dividends	(381)	(381)	(194)			(194)
Contributions from parent			39		39
Ending Balance at Mar. 31, 2024			14,401	1,588	10,440	2,373
Beginning Balance at Dec. 31, 2023	25,755		14,363	1,588	10,401	2,374
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,813		823
Ending Balance at Sep. 30, 2024	26,622		14,721	1,588	10,518	2,615
Beginning Balance at Mar. 31, 2024			14,401	1,588	10,440	2,373
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	448	448	270			270
Common stock dividends	(380)	(380)	(194)			(194)
Contributions from parent			39		39
Ending Balance at Jun. 30, 2024			14,516	1,588	10,479	2,449
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	707	707	360			360
Common stock dividends	(381)	$ (381)	(194)			(194)
Contributions from parent			39		39
Ending Balance at Sep. 30, 2024	$ 26,622		$ 14,721	$ 1,588	$ 10,518	$ 2,615

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Consolidated Balance Sheets - ACE (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accumulated depreciation and amortization	$ 18,227	$ 17,251
Atlantic City Electric Company
Accumulated depreciation and amortization	$ 1,763	$ 1,684

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - Exelon - USD ($)
shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Operating revenues

Revenues from alternative revenue programs

$ (54)

$ 108

$ (29)

$ 513

Total operating revenues

6,154

5,980

17,557

16,360

Operating expenses

Operating and maintenance

1,275

1,187

3,756

3,535

Depreciation and amortization

908

890

2,681

2,616

Taxes other than income taxes

395

383

1,127

1,063

Total operating expenses

4,961

4,857

14,348

13,429

Gain on sales of assets

Operating income

1,196

1,123

3,221

2,931

Other income and (deductions)

Interest expense, net

(490)

(431)

(1,428)

(1,259)

Other, net

196

331

Total other income and (deductions)

(439)

(356)

(1,250)

(946)

Income (Loss) before income taxes

757

767

1,971

1,985

Income taxes

158

274

Net income attributable to common shareholders

707

700

1,813

1,711

Net income

707

700

1,813

1,711

Other comprehensive (loss) income, net of income taxes

Actuarial losses reclassified to periodic benefit cost

Pension and non-pension postretirement benefit plans valuation adjustments

(3)

(26)

(16)

Unrealized (loss) gain on cash flow hedges

(29)

Other comprehensive (loss) income

(24)

(10)

Comprehensive income

$ 683

$ 734

$ 1,803

$ 1,753

Average shares of common stock outstanding:

Basic average shares of common stock outstanding (in shares)

1,003

996

1,002

996

Assumed exercise and/or distributions of stock-based awards (in shares)

^[1]

Diluted average shares of common stock outstanding (in shares)

1,004

997

1,002

996

Earnings Per Share [Abstract]

Earnings Per Share, Basic

$ 0.70

$ 1.81

$ 1.72

Earnings Per Share, Diluted

$ 0.70

$ 1.81

$ 1.72

Related Party

Other income and (deductions)

Interest expense to affiliates

$ (6)

$ (18)

Electricity, US Regulated

Operating revenues

Electric operating revenues

6,012

5,684

16,379

14,579

Operating expenses

Purchased power and/or fuel

2,349

2,364

6,483

5,766

Natural Gas, US Regulated

Operating revenues

Electric operating revenues

196

188

1,207

1,268

Operating expenses

Purchased power and/or fuel

$ 34

$ 33

$ 301

$ 449

[1]	The dilutive effects of stock-based compensation awards are calculated using the treasury stock method for all periods presented.

Significant Accounting Policies (All Registrants)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Significant Accounting Policies (All Registrants)

Description of Business

Exelon is a utility services holding company engaged in the energy transmission and distribution businesses through ComEd, PECO, BGE, Pepco, DPL, and ACE.

Name of Registrant

Business

Service Territories

Commonwealth Edison Company

Purchase and regulated retail sale of electricity

Northern Illinois, including the City of Chicago

Transmission and distribution of electricity to retail customers

PECO Energy Company

Purchase and regulated retail sale of electricity and natural gas

Southeastern Pennsylvania, including the City of Philadelphia (electricity)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Pennsylvania counties surrounding the City of Philadelphia (natural gas)

Baltimore Gas and Electric Company

Purchase and regulated retail sale of electricity and natural gas

Central Maryland, including the City of Baltimore (electricity and natural gas)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Pepco Holdings LLC

Utility services holding company engaged, through its reportable segments Pepco, DPL, and ACE

Service Territories of Pepco, DPL, and ACE

Potomac Electric
Power Company

Purchase and regulated retail sale of electricity

District of Columbia, and major portions of Montgomery and Prince George’s Counties, Maryland

Transmission and distribution of electricity to retail customers

Delmarva Power &
Light Company

Purchase and regulated retail sale of electricity and natural gas

Portions of Delaware and Maryland (electricity)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Portions of New Castle County, Delaware (natural gas)

Atlantic City Electric Company

Purchase and regulated retail sale of electricity

Portions of Southern New Jersey

Transmission and distribution of electricity to retail customers

Basis of Presentation

This is a combined quarterly report of all Registrants. The Notes to the Consolidated Financial Statements apply to the Registrants as indicated parenthetically next to each corresponding disclosure. When appropriate, the Registrants are named specifically for their related activities and disclosures. Each of the Registrant’s Consolidated Financial Statements includes the accounts of its subsidiaries. All intercompany transactions have been eliminated.

Through its business services subsidiary, BSC, Exelon provides its subsidiaries with a variety of support services at cost, including legal, human resources, financial, information technology, and supply management services. PHI also has a business services subsidiary, PHISCO, which provides a variety of support services at cost, including legal, finance, engineering, customer operations, distribution and transmission planning, asset management, system operations, and power procurement, to PHI operating companies. The costs of BSC and PHISCO are directly charged or allocated to the applicable subsidiaries. The results of Exelon’s corporate operations are presented as “Other” in the consolidated financial statements and include intercompany eliminations unless otherwise disclosed.

The accompanying consolidated financial statements as of September 30, 2024 and for the three and nine months ended September 30, 2024 and 2023 are unaudited but, in the opinion of each Registrant's management, the Registrants include all adjustments that are considered necessary for a fair statement of the Registrants’ respective financial statements in accordance with GAAP. All adjustments are of a normal, recurring nature, except as otherwise disclosed. The December 31, 2023 Consolidated Balance Sheets were derived from audited financial statements. The interim financial statements are to be read in conjunction with prior annual financial statements and notes. Additionally, financial results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the fiscal year ending December 31, 2024. These Combined Notes to Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the SEC for Quarterly Reports on Form 10-Q. Certain information and note disclosures normally included in

financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations.

New Accounting Standards (All Registrants)

New Accounting Standards Issued and Not Yet Adopted as of September 30, 2024: The following new authoritative accounting guidance issued by the FASB has not yet been adopted and reflected by the Registrants in their consolidated financial statements as of September 30, 2024. Unless otherwise indicated, the Registrants are currently assessing the impacts such guidance may have (which could be material) in their Consolidated Balance Sheets, Consolidated Statements of Operations and Comprehensive Income, Consolidated Statements of Cash Flows and disclosures, as well as the potential to early adopt where applicable. The Registrants have assessed other FASB issuances of new standards which are not listed below given the current expectation that such standards will not significantly impact the Registrants' financial reporting.

Segment Reporting (Issued November 2023). Improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The objective of the revised guidance is to introduce a new requirement to disclose significant segment expenses regularly provided to the CODM, extend certain annual disclosures to interim periods, clarify single reportable segment entities must apply ASC 280 in its entirety, permit more than one measure of segment profit or loss to be reported under certain conditions, and require disclosure of the title and position of the CODM. The standard is effective for annual periods beginning January 1, 2024 and interim periods beginning January 1, 2025, with early adoption permitted. The standard will be applied retrospectively.

Improvement to Income Tax Disclosures (Issued December 2023). Provides additional disclosure requirements related to the effective tax rate reconciliation and income taxes paid. Under the revised guidance for the effective tax reconciliations, entities would be required to disclose: (1) eight specific categories in the effective tax rate reconciliation in both percentages and reporting currency amount, (2) additional information for reconciling items over a certain threshold, (3) explanation of individual reconciling items disclosed, and (4) provide a qualitative description of the state and local jurisdictions that contribute to the majority of the state income tax expense. For each annual period presented, the new standard requires disclosure of the year-to-date amount of income taxes paid (net of refunds received) disaggregated by federal, state, and foreign. It also requires additional disaggregated information on income taxes paid (net of refunds received) to an individual jurisdiction equal to or greater than 5% of total income taxes paid (net of refunds received). The standard is effective January 1, 2025, with early adoption permitted.

Income Taxes - Allocation of Tax Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2024	Sep. 30, 2023
Commonwealth Edison Co
Income Tax Contingency [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	$ 30	$ 13
PECO Energy Co
Income Tax Contingency [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	15	19
Baltimore Gas and Electric Company
Income Tax Contingency [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	14	0
Pepco Holdings LLC
Income Tax Contingency [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	16	10
Potomac Electric Power Company
Income Tax Contingency [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	9	4
Delmarva Power and Light Company
Income Tax Contingency [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	5	0
Atlantic City Electric Company
Income Tax Contingency [Line Items]
Allocation Of Federal Tax Benefit Under Tax Sharing Agreement	$ 2	$ 2

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Nov. 30, 2020	Sep. 30, 2024
Commonwealth Edison Co
Commitments And Contingencies Additional Narrative Information [Line Items]
Mgp Site Contingency Monitoring Count		16
Deferred Prosecution Agreement Payments	$ 200.0
Loss Contingency Accrual		$ 46.2
Customer Refund Liability, Current		38.0
Commonwealth Edison Co \| Accrual For MGP Investigation And Remediation
Commitments And Contingencies Additional Narrative Information [Line Items]
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)		13.0
Commonwealth Edison Co \| Illinois Chamber of Commerce
Commitments And Contingencies Additional Narrative Information [Line Items]
Customer Refund Liability, Current		$ 31.0
PECO Energy Co
Commitments And Contingencies Additional Narrative Information [Line Items]
Mgp Site Contingency Monitoring Count		6
PECO Energy Co \| Accrual For MGP Investigation And Remediation
Commitments And Contingencies Additional Narrative Information [Line Items]
Accrual for Environmental Loss Contingencies, Period Increase (Decrease)		$ 4.0
Baltimore Gas and Electric Company
Commitments And Contingencies Additional Narrative Information [Line Items]
Mgp Site Contingency Monitoring Count		4
Delmarva Power and Light Company
Commitments And Contingencies Additional Narrative Information [Line Items]
Mgp Site Contingency Monitoring Count		1
Potomac Electric Power Company
Commitments And Contingencies Additional Narrative Information [Line Items]
Environmental Liability - Anacostia		$ 47.0
Environmental Liability - Buzzard Point		10.0
Exelon Business Services Co Affiliate
Commitments And Contingencies Additional Narrative Information [Line Items]
Deferred Prosecution Agreement Liability, Current		173.0
Insurers' Settlement Payment		40.0
Settling Shareholders' Attorney Fees		$ 10.0

Statements of Changes in Shareholders Equity (Unaudited) - BGE - USD ($) $ in Millions	Total	Retained Earnings	Baltimore Gas and Electric Company	Baltimore Gas and Electric Company Common Stock	Baltimore Gas and Electric Company Retained Earnings
Beginning Balance at Dec. 31, 2022			$ 4,936	$ 2,861	$ 2,075
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 669	$ 669	200		200
Common stock dividends	(359)	(359)	(80)		(80)
Contributions from parent			237	237
Ending Balance at Mar. 31, 2023			5,293	3,098	2,195
Beginning Balance at Dec. 31, 2022			4,936	2,861	2,075
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,711		286
Ending Balance at Sep. 30, 2023			5,222	3,098	2,124
Beginning Balance at Mar. 31, 2023			5,293	3,098	2,195
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343	343	42		42
Common stock dividends	(359)	(359)	(79)		(79)
Ending Balance at Jun. 30, 2023			5,256	3,098	2,158
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	700	700	45		45
Common stock dividends	(358)	(358)	(79)		(79)
Ending Balance at Sep. 30, 2023			5,222	3,098	2,124
Beginning Balance at Dec. 31, 2023	25,755		5,490	3,246	2,244
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	658	658	264		264
Common stock dividends	(381)	(381)	(92)		(92)
Ending Balance at Mar. 31, 2024			5,662	3,246	2,416
Beginning Balance at Dec. 31, 2023	25,755		5,490	3,246	2,244
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,813		353
Ending Balance at Sep. 30, 2024	26,622		5,804	3,483	2,321
Beginning Balance at Mar. 31, 2024			5,662	3,246	2,416
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	448	448	44		44
Common stock dividends	(380)	(380)	(92)		(92)
Contributions from parent			197	197
Ending Balance at Jun. 30, 2024			5,811	3,443	2,368
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	707	707	45		45
Common stock dividends	(381)	$ (381)	(92)		(92)
Contributions from parent			40	40
Ending Balance at Sep. 30, 2024	$ 26,622		$ 5,804	$ 3,483	$ 2,321

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
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-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480175/815-40-65-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479168/946-830-55-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478009/946-205-45-3

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479105/946-220-45-7

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482765/220-10-50-6

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Liabilities Recorded at Amortized Cost

The following tables present the carrying amounts and fair values of the Registrants’ short-term liabilities, long-term debt, and trust preferred securities (long-term debt to financing trusts or junior subordinated debentures) as of September 30, 2024 and December 31, 2023. The Registrants have no financial liabilities measured using the NAV practical expedient.

The carrying amounts of the Registrants’ short-term liabilities as presented in their Consolidated Balance Sheets are representative of their fair value (Level 2) because of the short-term nature of these instruments.


	September 30, 2024										December 31, 2023
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Level 1		Level 2		Level 3		Total				Level 1		Level 2		Level 3		Total
Long-Term Debt, including amounts due within one year(a)
Exelon	$	44,655	$	—	$	37,642	$	3,937	$	41,579	$	41,095	$	—	$	33,804	$	3,442	$	37,246
ComEd	12,028		—		10,957		—		10,957		11,486		—		10,210		—		10,210
PECO	5,703		—		5,156		—		5,156		5,134		—		4,562		—		4,562
BGE	5,395		—		5,021		—		5,021		4,602		—		4,145		—		4,145
PHI	9,135		—		4,333		3,937		8,270		8,648		—		4,160		3,442		7,602
Pepco	4,362		—		2,638		1,634		4,272		4,096		—		2,311		1,600		3,911
DPL	2,221		—		667		1,329		1,996		2,080		—		694		1,134		1,828
ACE	1,935		—		809		974		1,783		1,833		—		939		708		1,647
Long-Term Debt to Financing Trusts
Exelon	$	390	$	—	$	—	$	409	$	409	$	390	$	—	$	—	$	390	$	390
ComEd	206		—		—		215		215		205		—		—		208		208
PECO	184		—		—		194		194		184		—		—		182		182

__________

(a)Includes unamortized debt issuance costs, unamortized debt discount and premium, net, purchase accounting fair value adjustments, and finance lease liabilities which are not fair valued. Refer to Note 16 — Debt and Credit Agreements of the 2023 Form 10-K for unamortized debt issuance costs, unamortized debt discount and premium, net, and purchase accounting fair value adjustments and Note 10 — Leases of the 2023 Form 10-K for finance lease liabilities.

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Recurring Fair Value Measurements

The following tables present assets and liabilities measured and recorded at fair value in the Registrants' Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy at September 30, 2024 and December 31, 2023. Exelon and the Utility Registrants have immaterial and no financial assets or liabilities measured using the NAV practical expedient, respectively:

Exelon


	At September 30, 2024						At December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	861	$	—	$	—	$	861	$	618	$	—	$	—	$	618
Rabbi trust investments
Cash equivalents	93		—		—		93		67		—		—		67
Mutual funds	62		—		—		62		53		—		—		53
Fixed income	—		7		—		7		—		7		—		7
Life insurance contracts	—		70		22		92		—		61		43		104
Rabbi trust investments subtotal	155		77		22		254		120		68		43		231

Interest rate derivative assets
Derivatives designated as hedging instruments	—		—		—		—		—		11		—		11
Economic hedges	—		—		—		—		—		1		—		1
Interest rate derivative assets subtotal	—		—		—		—		—		12		—		12
Total assets	1,016		77		22		1,115		738		80		43		861
Liabilities
Commodity derivative liabilities	—		—		(165)		(165)		—		—		(133)		(133)
Interest rate derivative liabilities
Derivatives designated as hedging instruments	—		(39)		—		(39)		—		(24)		—		(24)
Economic hedges	—		—		—		—		—		(22)		—		(22)
Interest rate derivative liabilities subtotal	—		(39)		—		(39)		—		(46)		—		(46)
Deferred compensation obligation	—		(75)		—		(75)		—		(75)		—		(75)
Total liabilities	—		(114)		(165)		(279)		—		(121)		(133)		(254)
Total net assets (liabilities)	$	1,016	$	(37)	$	(143)	$	836	$	738	$	(41)	$	(90)	$	607

__________

(a)Exelon excludes cash of $205 million and $334 million at September 30, 2024 and December 31, 2023, respectively, and restricted cash of $167 million and $149 million at September 30, 2024 and December 31, 2023, respectively, and includes long-term restricted cash of $65 million and $174 million at September 30, 2024 and December 31, 2023, respectively, which is reported in Other deferred debits and other assets in the Consolidated Balance Sheets.

ComEd, PECO, and BGE


	ComEd								PECO								BGE
At September 30, 2024	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	403	$	—	$	—	$	403	$	18	$	—	$	—	$	18	$	313	$	—	$	—	$	313
Rabbi trust investments

Mutual funds	—		—		—		—		11		—		—		11		10		—		—		10
Life insurance contracts	—		—		—		—		—		21		—		21		—		—		—		—
Rabbi trust investments subtotal	—		—		—		—		11		21		—		32		10		—		—		10

Total assets	403		—		—		403		29		21		—		50		323		—		—		323
Liabilities
Commodity derivative liabilities(b)	—		—		(165)		(165)		—		—		—		—		—		—		—		—
Deferred compensation obligation	—		(9)		—		(9)		—		(7)		—		(7)		—		(4)		—		(4)
Total liabilities	—		(9)		(165)		(174)		—		(7)		—		(7)		—		(4)		—		(4)
Total net assets (liabilities)	$	403	$	(9)	$	(165)	$	229	$	29	$	14	$	—	$	43	$	323	$	(4)	$	—	$	319


	ComEd								PECO								BGE
At December 31, 2023	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	453	$	—	$	—	$	453	$	9	$	—	$	—	$	9	$	—	$	—	$	—	$	—
Rabbi trust investments
Mutual funds	—		—		—		—		9		—		—		9		9		—		—		9
Life insurance contracts	—		—		—		—		—		18		—		18		—		—		—		—
Rabbi trust investments subtotal	—		—		—		—		9		18		—		27		9		—		—		9
Total assets	453		—		—		453		18		18		—		36		9		—		—		9
Liabilities
Commodity derivative liabilities(b)	—		—		(133)		(133)		—		—		—		—		—		—		—		—
Deferred compensation obligation	—		(8)		—		(8)		—		(8)		—		(8)		—		(4)		—		(4)
Total liabilities	—		(8)		(133)		(141)		—		(8)		—		(8)		—		(4)		—		(4)
Total net assets (liabilities)	$	453	$	(8)	$	(133)	$	312	$	18	$	10	$	—	$	28	$	9	$	(4)	$	—	$	5

__________

(a)ComEd excludes cash of $84 million and $86 million at September 30, 2024 and December 31, 2023, respectively, and restricted cash of $167 million and $147 million at September 30, 2024 and December 31, 2023, respectively. Additionally, ComEd includes long-term restricted cash of $65 million and $174 million at September 30, 2024 and December 31, 2023, respectively, which is reported in Other deferred debits and other assets in the Consolidated Balance Sheets. PECO excludes cash of $19 million and $42 million at September 30, 2024 and December 31, 2023, respectively. BGE excludes

cash of $18 million and $47 million at September 30, 2024 and December 31, 2023, respectively, and restricted cash of zero and $1 million at September 30, 2024 and December 31, 2023, respectively.

(b)The Level 3 balance consists of the current and noncurrent liability of $25 million and $140 million, respectively, at September 30, 2024 and $27 million and $106 million, respectively, at December 31, 2023 related to floating-to-fixed energy swap contracts with unaffiliated suppliers.

PHI, Pepco, DPL, and ACE


	At September 30, 2024								At December 31, 2023
PHI	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	74	$	—	$	—	$	74	$	107	$	—	$	—	$	107
Rabbi trust investments
Cash equivalents	90		—		—		90		64		—		—		64
Mutual funds	9		—		—		9		9		—		—		9
Fixed income	—		7		—		7		—		7		—		7
Life insurance contracts	—		23		21		44		—		21		41		62
Rabbi trust investments subtotal	99		30		21		150		73		28		41		142
Total assets	173		30		21		224		180		28		41		249
Liabilities
Deferred compensation obligation	—		(11)		—		(11)		—		(13)		—		(13)



Total liabilities	—		(11)		—		(11)		—		(13)		—		(13)
Total net assets	$	173	$	19	$	21	$	213	$	180	$	15	$	41	$	236


	Pepco								DPL								ACE
At September 30, 2024	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	21	$	—	$	—	$	21	$	3	$	—	$	—	$	3	$	—	$	—	$	—	$	—




Rabbi trust investments
Cash equivalents	90		—		—		90		—		—		—		—		—		—		—		—

Life insurance contracts	—		23		21		44		—		—		—		—		—		—		—		—
Rabbi trust investments subtotal	90		23		21		134		—		—		—		—		—		—		—		—
Total assets	111		23		21		155		3		—		—		3		—		—		—		—
Liabilities
Deferred compensation obligation	—		(1)		—		(1)		—		—		—		—		—		—		—		—



Total liabilities	—		(1)		—		(1)		—		—		—		—		—		—		—		—
Total net assets	$	111	$	22	$	21	$	154	$	3	$	—	$	—	$	3	$	—	$	—	$	—	$	—


	Pepco								DPL								ACE
At December 31, 2023	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	23	$	—	$	—	$	23	$	1	$	—	$	—	$	1	$	—	$	—	$	—	$	—
Rabbi trust investments
Cash equivalents	63		—		—		63		—		—		—		—		—		—		—		—


Life insurance contracts	—		21		41		62		—		—		—		—		—		—		—		—
Rabbi trust investments subtotal	63		21		41		125		—		—		—		—		—		—		—		—
Total assets	86		21		41		148		1		—		—		1		—		—		—		—
Liabilities
Deferred compensation obligation	—		(1)		—		(1)		—		—		—		—		—		—		—		—



Total liabilities	—		(1)		—		(1)		—		—		—		—		—		—		—		—
Total net assets	$	86	$	20	$	41	$	147	$	1	$	—	$	—	$	1	$	—	$	—	$	—	$	—

__________

(a)PHI excludes cash of $48 million and $96 million at September 30, 2024 and December 31, 2023, respectively, and restricted cash of zero and $1 million at September 30, 2024 and December 31, 2023, respectively. Pepco excludes cash of $19 million and $48 million at September 30, 2024 and December 31, 2023, respectively, and restricted cash of zero and $1 million at September 30, 2024 and December 31, 2023, respectively. DPL excludes cash of $7 million and $15 million at September 30, 2024 and December 31, 2023, respectively. ACE excludes cash of $17 million and $21 million at September 30, 2024 and December 31, 2023, respectively.

Fair Value Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis

Reconciliation of Level 3 Assets and Liabilities

The following tables present the fair value reconciliation of Level 3 assets and liabilities measured at fair value on a recurring basis during the three and nine months ended September 30, 2024 and 2023:



	Exelon		ComEd			PHI and Pepco
Three Months Ended September 30, 2024	Total		Commodity Derivatives			Life Insurance Contracts
Balance at June 30, 2024	$	(116)	$	(139)		$	22
Total realized / unrealized gains (losses)
Included in net income(a)	—		—			—


Included in regulatory assets/liabilities	(26)		(26)		(b)	—

Purchases, sales, and settlements



Settlements	(1)		—			(1)


Balance at September 30, 2024	$	(143)	$	(165)	(c)	$	21
The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at September 30, 2024	$	—	$	—		$	—



	Exelon		ComEd			PHI and Pepco
Three Months Ended September 30, 2023	Total		Commodity Derivatives			Life Insurance Contracts
Balance at June 30, 2023	$	(91)	$	(133)		$	42
Total realized / unrealized gains (losses)
Included in net income(a)	—		—			(2)

Included in regulatory assets/liabilities	(1)		(1)		(b)	—








Balance at September 30, 2023	$	(92)	$	(134)		$	40
The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at September 30, 2023	$	—	$	—		$	(2)


	Exelon		ComEd			PHI and Pepco
Nine Months Ended September 30, 2024	Total		Commodity Derivatives			Life Insurance Contracts
Balance at December 31, 2023	$	(90)	$	(133)		$	41
Total realized / unrealized gains (losses)
Included in net income(a)	1		—			2


Included in regulatory assets/liabilities	(32)		(32)		(b)	—

Purchases, sales, and settlements



Settlements	(22)		—			(22)


Balance at September 30, 2024	$	(143)	$	(165)	(c)	$	21
The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at September 30, 2024	$	2	$	—		$	2


	Exelon		ComEd			PHI and Pepco
Nine Months Ended September 30, 2023	Total		Commodity Derivatives			Life Insurance Contracts
Balance at December 31, 2022	$	(44)	$	(84)		$	40
Total realized / unrealized gains (losses)
Included in net income(a)	2		—			—


Included in regulatory assets/liabilities	(50)		(50)		(b)	—








Balance at September 30, 2023	$	(92)	$	(134)		$	40
The amount of total gains included in income attributed to the change in unrealized gain related to assets and liabilities at September 30, 2023	$	2	$	—		$	—

__________

(a)Classified in Operating and maintenance expense in the Consolidated Statements of Operations and Comprehensive Income.

(b)Includes $31 million of decreases in fair value and an increase for realized gains due to settlements of $5 million recorded in Purchased power expense associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the three months ended September 30, 2024. Includes $5 million of decreases in fair value and an increase for realized gains due to settlements of $4 million recorded in Purchased power expense associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the three months ended September 30, 2023. Includes $60 million of decreases in fair value and an increase for realized gains due to settlements of $28 million recorded in Purchased power expense associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the nine months ended September 30, 2024. Includes $73 million of decreases in fair value and an increase for realized gains due to settlements of $23 million recorded in Purchased power expense associated with floating-to-fixed energy swap contracts with unaffiliated suppliers for the nine months ended September 30, 2023.

(c)The balance of the current and noncurrent asset was effectively zero as of September 30, 2024. The balance consists of a current and noncurrent liability of $25 million and $140 million, respectively, as of September 30, 2024.

Fair Value Reconciliation of Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis, Valuation Technique

Commodity Derivatives (Exelon and ComEd)

The table below discloses the significant unobservable inputs to the forward curve used to value mark-to-market derivatives.


Type of trade	Fair Value at September 30, 2024		Fair Value at December 31, 2023		Valuation Technique	Unobservable Input	2024 Range & Arithmetic Average				2023 Range & Arithmetic Average
Commodity derivatives	$	(165)	$	(133)	Discounted Cash Flow	Forward power price(a)	$22.68	-	$55.35	$36.45	$30.27	-	$73.71	$43.35

________

(a)An increase to the forward power price would increase the fair value.

Income Taxes - Reconciliation to Effective Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit (d)	5.70%	(2.70%)	5.80%	2.80%
Plant basis differences	(4.80%)	(4.40%)	(4.20%)	(4.30%)
Excess deferred tax amortization	(14.00%)	(6.40%)	(14.10%)	(6.60%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Tax credits	(0.90%)	(0.50%)	(0.60%)	(0.50%)
Other	(0.30%)	1.80%	0.20%	1.50%
Effective income tax rate	6.60%	8.70%	8.00%	13.80%
Federal and State
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
Effective income tax rate reconciliation, state and local income taxes, amount	$ (54)		$ (54)
Commonwealth Edison Co
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit (d)	7.60%	7.80%	7.70%	7.80%
Plant basis differences	(0.80%)	(0.40%)	(0.80%)	(0.40%)
Excess deferred tax amortization	(16.60%)	(5.30%)	(17.40%)	(5.50%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Tax credits	(2.60%)	(1.20%)	(1.40%)	(0.70%)
Other	0.60%	0.20%	0.40%	0.10%
Effective income tax rate	9.10%	22.00%	9.40%	22.20%
PECO Energy Co
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit (d)	(2.10%)	(1.20%)	(1.20%)	(1.30%)
Plant basis differences	(19.50%)	(15.60%)	(14.70%)	(15.50%)
Excess deferred tax amortization	(2.60%)	(2.40%)	(2.40%)	(2.40%)
Amortization of investment tax credit, including deferred taxes on basis difference	0.00%	0.00%	0.00%	0.00%
Tax credits	0.00%	0.00%	0.00%	0.00%
Other	(0.30%)	0.20%	(0.20%)	0.10%
Effective income tax rate	(3.50%)	2.00%	2.50%	1.90%
Baltimore Gas and Electric Company
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit (d)	6.50%	6.60%	6.30%	6.50%
Plant basis differences	(0.80%)	(0.20%)	(1.20%)	(0.50%)
Excess deferred tax amortization	(18.60%)	(5.40%)	(17.60%)	(5.40%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	0.00%	(0.10%)
Tax credits	(0.60%)	(2.00%)	(0.40%)	(0.70%)
Other	0.80%	(0.30%)	0.20%	0.20%
Effective income tax rate	8.20%	19.60%	8.30%	21.00%
Pepco Holdings LLC
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit (d)	6.50%	6.20%	6.50%	6.10%
Plant basis differences	(0.80%)	(1.50%)	(0.90%)	(1.60%)
Excess deferred tax amortization	(5.50%)	(8.00%)	(5.40%)	(7.70%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Tax credits	(0.60%)	(0.50%)	(0.50%)	(0.60%)
Other	0.10%	0.30%	0.20%	0.30%
Effective income tax rate	20.60%	17.40%	20.80%	17.40%
Potomac Electric Power Company
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit (d)	6.20%	5.50%	6.20%	5.50%
Plant basis differences	(1.20%)	(2.40%)	(1.30%)	(2.50%)
Excess deferred tax amortization	(6.70%)	(9.20%)	(6.80%)	(9.20%)
Amortization of investment tax credit, including deferred taxes on basis difference	0.00%	0.00%	0.00%	0.00%
Tax credits	(0.50%)	(0.60%)	(0.40%)	(0.70%)
Other	(0.20%)	0.60%	(0.10%)	0.60%
Effective income tax rate	18.60%	14.90%	18.60%	14.70%
Delmarva Power and Light Company
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit (d)	6.30%	6.10%	6.20%	6.20%
Plant basis differences	(0.80%)	(0.90%)	(0.90%)	(1.00%)
Excess deferred tax amortization	(5.90%)	(10.00%)	(5.80%)	(9.40%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Tax credits	(0.60%)	(0.40%)	(0.40%)	(0.40%)
Other	0.40%	0.00%	0.00%	0.00%
Effective income tax rate	20.30%	15.70%	20.00%	16.30%
Atlantic City Electric Company
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate [Line Items]
U.S. Federal statutory rate	21.00%	21.00%	21.00%	21.00%
State income taxes, net of federal income tax benefit (d)	7.40%	7.00%	7.40%	6.90%
Plant basis differences	0.00%	(0.50%)	0.10%	(0.50%)
Excess deferred tax amortization	(1.60%)	(3.10%)	(1.60%)	(2.60%)
Amortization of investment tax credit, including deferred taxes on basis difference	(0.10%)	(0.10%)	(0.10%)	(0.10%)
Tax credits	(0.50%)	(0.30%)	(0.40%)	(0.30%)
Other	0.30%	0.50%	0.10%	0.30%
Effective income tax rate	26.50%	24.50%	26.50%	24.70%

Segment Information (All Registrants)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Segment Information (All Registrants)

Operating segments for each of the Registrants are determined based on information used by the CODMs in deciding how to evaluate performance and allocate resources at each of the Registrants.

Exelon has six reportable segments, which include ComEd, PECO, BGE, and PHI's three reportable segments consisting of Pepco, DPL, and ACE. ComEd, PECO, BGE, Pepco, DPL, and ACE each represent a single reportable segment, and as such, no separate segment information is provided for these Utility Registrants. Exelon, ComEd, PECO, BGE, Pepco, DPL, and ACE's CODMs evaluate the performance of and allocate resources to the segments based on net income.

Three Months Ended September 30, 2024 and 2023



	ComEd		PECO		BGE		PHI		Other(a)		Intersegment Eliminations		Exelon
Operating revenues(b):
2024
Electric revenues	$	2,229	$	960	$	925	$	1,836	$	—	$	(6)	$	5,944
Natural gas revenues	—		70		119		23		—		(2)		210
Shared service and other revenues	—		—		—		3		441		(444)		—
Total operating revenues	$	2,229	$	1,030	$	1,044	$	1,862	$	441	$	(452)	$	6,154
2023
Electric revenues	$	2,268	$	970	$	836	$	1,747	$	—	$	(28)	$	5,793
Natural gas revenues	—		67		96		24		—		—		187
Shared service and other revenues	—		—		—		2		445		(447)		—
Total operating revenues	$	2,268	$	1,037	$	932	$	1,773	$	445	$	(475)	$	5,980
Intersegment revenues(c):
2024	$	2	$	4	$	3	$	3	$	438	$	(450)	$	—
2023	9		2		2		2		443		(458)		—
Depreciation and amortization:
2024	$	387	$	108	$	162	$	235	$	16	$	—	$	908
2023	357		100		161		257		15		—		890
Operating expenses:
2024	$	1,731	$	868	$	949	$	1,439	$	439	$	(465)	$	4,961
2023	1,738		847		835		1,440		475		(478)		4,857
Interest expense, net:
2024	$	128	$	58	$	57	$	95	$	158	$	—	$	496
2023	119		52		47		80		139		—		437



Income Taxes:
2024	$	36	$	(4)	$	4	$	72	$	(58)	$	—	$	50
2023	94		3		11		49		(90)		—		67
Net income (loss):
2024	$	360	$	117	$	45	$	278	$	(93)	$	—	$	707
2023	333		146		45		232		(41)		(15)		700
Capital Expenditures:
2024	$	508	$	382	$	365	$	440	$	—	$	—	$	1,695
2023	664		361		330		488		12		—		1,855

______________

(a)Other primarily includes Exelon’s corporate operations, shared service entities, and other financing and investment activities.

(c)See Note 15 — Related Party Transactions for additional information on intersegment revenues.

PHI:



	Pepco		DPL		ACE		Other(a)		Intersegment Eliminations		PHI
Operating revenues(b):
2024
Electric revenues	$	861	$	439	$	540	$	—	$	(4)	$	1,836
Natural gas revenues	—		23		—		—		—		23
Shared service and other revenues	—		—		—		103		(100)		3
Total operating revenues	$	861	$	462	$	540	$	103	$	(104)	$	1,862
2023
Electric revenues	$	822	$	426	$	502	$	—	$	(3)	$	1,747
Natural gas revenues	—		24		—		—		—		24
Shared service and other revenues	—		—		—		103		(101)		2
Total operating revenues	$	822	$	450	$	502	$	103	$	(104)	$	1,773
Intersegment revenues(c):
2024	$	2	$	2	$	1	$	103	$	(105)	$	3
2023	1		2		—		103		(104)		2
Depreciation and amortization:
2024	$	102	$	62	$	67	$	4	$	—	$	235
2023	112		62		77		6		—		257
Operating expenses:
2024	$	650	$	377	$	410	$	106	$	(104)	$	1,439
2023	658		386		394		105		(103)		1,440
Interest expense, net:
2024	$	50	$	22	$	21	$	3	$	(1)	$	95
2023	41		18		19		3		(1)		80



Income Taxes:
2024	$	32	$	14	$	30	$	(4)	$	—	$	72
2023	21		8		23		(3)		—		49
Net income (loss):
2024	$	140	$	55	$	83	$	—	$	—	$	278
2023	120		43		71		(2)		—		232
Capital Expenditures:
2024	$	218	$	136	$	85	$	1	$	—	$	440
2023	227		158		101		2		—		488

__________

(a)Other primarily includes PHI’s corporate operations, shared service entities, and other financing and investment activities.

(c)Includes intersegment revenues with ComEd, PECO, and BGE, which are eliminated at Exelon.

Electric and Gas Revenue by Customer Class (Utility Registrants):



	Three Months Ended September 30, 2024
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	1,117	$	641	$	558	$	1,016	$	426	$	267	$	323
Small commercial & industrial	603		153		96		203		52		69		82
Large commercial & industrial	286		73		154		365		281		31		53
Public authorities & electric railroads	11		7		8		18		9		4		5
Other(a)	280		74		110		225		85		70		71
Total electric revenues(b)	$	2,297	$	948	$	926	$	1,827	$	853	$	441	$	534
Natural gas revenues
Residential	$	—	$	44	$	58	$	11	$	—	$	11	$	—
Small commercial & industrial	—		17		11		6		—		6		—
Large commercial & industrial	—		—		32		1		—		1		—
Transportation	—		7		—		4		—		4		—
Other(c)	—		2		3		1		—		1		—
Total natural gas revenues(d)	$	—	$	70	$	104	$	23	$	—	$	23	$	—
Total revenues from contracts with customers	$	2,297	$	1,018	$	1,030	$	1,850	$	853	$	464	$	534
Other revenues
Revenues from alternative revenue programs	$	(76)	$	5	$	9	$	8	$	5	$	(3)	$	6
Other electric revenues(e)	8		7		4		4		3		1		—
Other natural gas revenues(e)	—		—		1		—		—		—		—

Total other revenues	$	(68)	$	12	$	14	$	12	$	8	$	(2)	$	6
Total revenues for reportable segments	$	2,229	$	1,030	$	1,044	$	1,862	$	861	$	462	$	540



	Three Months Ended September 30, 2023
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	1,047	$	654	$	512	$	959	$	405	$	255	$	299
Small commercial & industrial	540		148		86		199		54		70		75
Large commercial & industrial	263		67		144		386		303		32		51
Public authorities & electric railroads	11		7		7		16		9		3		4
Other(a)	265		80		104		201		67		67		68
Total electric revenues(b)	$	2,126	$	956	$	853	$	1,761	$	838	$	427	$	497
Natural gas revenues
Residential	$	—	$	43	$	57	$	12	$	—	$	12	$	—
Small commercial & industrial	—		16		10		7		—		7		—
Large commercial & industrial	—		—		25		1		—		1		—
Transportation	—		7		—		3		—		3		—
Other(c)	—		1		4		1		—		1		—
Total natural gas revenues(d)	$	—	$	67	$	96	$	24	$	—	$	24	$	—
Total revenues from contracts with customers	$	2,126	$	1,023	$	949	$	1,785	$	838	$	451	$	497
Other revenues
Revenues from alternative revenue programs	$	135	$	11	$	(22)	$	(15)	$	(18)	$	(2)	$	5
Other electric revenues(e)	7		3		4		3		2		1		—
Other natural gas revenues(e)	—		—		1		—		—		—		—

Total other revenues	$	142	$	14	$	(17)	$	(12)	$	(16)	$	(1)	$	5
Total revenues for reportable segments	$	2,268	$	1,037	$	932	$	1,773	$	822	$	450	$	502

__________

(a)Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue.

(b)Includes operating revenues from affiliates in 2024 and 2023 respectively of:

•$2 million, $9 million at ComEd

•$3 million, $2 million at PECO

•$2 million, $1 million at BGE

•$3 million, $2 million at PHI

•$2 million, $1 million at Pepco

•$2 million, $2 million at DPL

•$1 million, less than $1 million at ACE

(c)Includes off-system natural gas sales.

(d)Includes operating revenues from affiliates in 2024 and 2023 respectively of:

•$1 million, less than $1 million at PECO

•$1 million, $1 million at BGE

(e)Includes late payment charge revenues.

Nine Months Ended September 30, 2024 and 2023


	ComEd		PECO		BGE		PHI		Other(a)		Intersegment Eliminations		Exelon
Operating revenues(b):
2024
Electric revenues	$	6,403	$	2,537	$	2,588	$	4,809	$	—	$	(17)	$	16,320
Natural gas revenues	—		438		680		122		—		(3)		1,237
Shared service and other revenues	—		—		—		7		1,369		(1,376)		—
Total operating revenues	$	6,403	$	2,975	$	3,268	$	4,938	$	1,369	$	(1,396)	$	17,557
2023
Electric revenues	$	5,836	$	2,484	$	2,322	$	4,459	$	—	$	(45)	$	15,056
Natural gas revenues	—		493		664		150		—		(3)		1,304
Shared service and other revenues	—		—		—		6		1,316		(1,322)		—
Total operating revenues	$	5,836	$	2,977	$	2,986	$	4,615	$	1,316	$	(1,370)	$	16,360

Intersegment revenues(c):
2024	$	6	$	7	$	7	$	7	$	1,362	$	(1,389)	$	—
2023	14		6		6		7		1,310		(1,343)		—
Depreciation and amortization:
2024	$	1,124	$	318	$	474	$	716	$	49	$	—	$	2,681
2023	1,045		297		487		741		46		—		2,616
Operating expenses:
2024	$	5,192	$	2,471	$	2,751	$	3,977	$	1,382	$	(1,425)	$	14,348
2023	4,472		2,436		2,503		3,864		1,521		(1,367)		13,429
Interest expense, net:
2024	$	374	$	170	$	159	$	279	$	466	$	(2)	$	1,446
2023	357		149		135		238		402		(4)		1,277



Income taxes:
2024	$	85	$	9	$	32	$	158	$	(126)	$	—	$	158
2023	235		8		76		103		(149)		1		274
Net income (loss):
2024	$	823	$	356	$	353	$	603	$	(322)	$	—	$	1,813
2023	822		410		286		490		(275)		(22)		1,711
Capital expenditures:
2024	$	1,619	$	1,125	$	1,033	$	1,343	$	41	$	—	$	5,161
2023	1,926		1,068		986		1,510		50		—		5,540
Total assets:
September 30, 2024	$	44,718	$	16,748	$	15,038	$	27,672	$	5,804	$	(3,910)	$	106,070
December 31, 2023	42,827		15,595		14,184		26,903		6,374		(4,337)		101,546

__________

(a)Other primarily includes Exelon’s corporate operations, shared service entities, and other financing and investment activities.

(c)See Note 15 — Related Party Transactions for additional information on intersegment revenues.

PHI:


	Pepco		DPL		ACE		Other(a)		Intersegment Eliminations		PHI
Operating revenues(b):
2024
Electric revenues	$	2,320	$	1,221	$	1,280	$	—	$	(12)	$	4,809
Natural gas revenues	—		122		—		—		—		122
Shared service and other revenues	—		—		—		328		(321)		7
Total operating revenues	$	2,320	$	1,343	$	1,280	$	328	$	(333)	$	4,938
2023
Electric revenues	$	2,174	$	1,123	$	1,172	$	1	$	(11)	$	4,459
Natural gas revenues	—		150		—		—		—		150
Shared service and other revenues	—		—		—		309		(303)		6
Total operating revenues	$	2,174	$	1,273	$	1,172	$	310	$	(314)	$	4,615
Intersegment revenues(c):
2024	$	5	$	5	$	2	$	328	$	(333)	$	7
2023	5		5		1		309		(313)		7
Depreciation and amortization:
2024	$	307	$	183	$	214	$	12	$	—	$	716
2023	329		182		212		18		—		741
Operating expenses:
2024	$	1,824	$	1,099	$	1,052	$	335	$	(333)	$	3,977
2023	1,810		1,079		971		318		(314)		3,864
Interest expense, net:
2024	$	142	$	69	$	59	$	10	$	(1)	$	279
2023	122		53		52		9		2		238



Income taxes:
2024	$	74	$	39	$	48	$	(3)	$	—	$	158
2023	43		25		40		(5)		—		103
Net income (loss):
2024	$	323	$	156	$	133	$	(9)	$	—	$	603
2023	249		128		122		(9)		—		490
Capital expenditures:
2024	$	672	$	404	$	265	$	2	$	—	$	1,343
2023	710		416		376		8		—		1,510
Total assets:
September 30, 2024	$	11,602	$	6,204	$	5,329	$	4,573	$	(36)	$	27,672
December 31, 2023	11,194		5,966		5,157		4,627		(41)		26,903

__________

(a)Other primarily includes PHI’s corporate operations, shared service entities, and other financing and investment activities.

(c)Includes intersegment revenues with ComEd, PECO, and BGE, which are eliminated at Exelon.

Electric and Gas Revenue by Customer Class (Utility Registrants):

sales provided by major customer groups. Exelon’s disaggregated revenues are consistent with the Utility Registrants, but exclude any intercompany revenues.



	Nine Months Ended September 30, 2024
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	3,017	$	1,683	$	1,556	$	2,537	$	1,085	$	725	$	727
Small commercial & industrial	1,755		407		274		519		141		191		187
Large commercial & industrial	875		191		425		1,034		794		91		149
Public authorities & electric railroads	43		21		24		52		26		12		14
Other(a)	803		221		303		623		224		198		206
Total electric revenues(b)	$	6,493	$	2,523	$	2,582	$	4,765	$	2,270	$	1,217	$	1,283
Natural gas revenues
Residential	$	—	$	300	$	418	$	72	$	—	$	72	$	—
Small commercial & industrial	—		106		76		29		—		29		—
Large commercial & industrial	—		—		143		4		—		4		—
Transportation	—		20		—		12		—		12		—
Other(c)	—		11		12		5		—		5		—
Total natural gas revenues(d)	$	—	$	437	$	649	$	122	$	—	$	122	$	—
Total revenues from contracts with customers	$	6,493	$	2,960	$	3,231	$	4,887	$	2,270	$	1,339	$	1,283
Other revenues
Revenues from alternative revenue programs	$	(100)	$	3	$	28	$	40	$	42	$	1	$	(3)
Other electric revenues(e)	10		11		7		11		8		3		—
Other natural gas revenues(e)	—		1		2		—		—		—		—

Total other revenues	$	(90)	$	15	$	37	$	51	$	50	$	4	$	(3)
Total revenues for reportable segments	$	6,403	$	2,975	$	3,268	$	4,938	$	2,320	$	1,343	$	1,280



	Nine Months Ended September 30, 2023
Revenues from contracts with customers	ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Electric revenues
Residential	$	2,744	$	1,617	$	1,308	$	2,181	$	954	$	626	$	601
Small commercial & industrial	1,363		415		253		503		134		189		180
Large commercial & industrial	553		196		412		1,099		838		98		163
Public authorities & electric railroads	33		23		22		49		25		11		13
Other(a)	716		219		303		563		187		186		194
Total electric revenues(b)	$	5,409	$	2,470	$	2,298	$	4,395	$	2,138	$	1,110	$	1,151
Natural gas revenues
Residential	$	—	$	335	$	406	$	88	$	—	$	88	$	—
Small commercial & industrial	—		123		66		40		—		40		—
Large commercial & industrial	—		1		124		3		—		3		—
Transportation	—		20		—		11		—		11		—
Other(c)	—		12		28		8		—		8		—
Total natural gas revenues(d)	$	—	$	491	$	624	$	150	$	—	$	150	$	—
Total revenues from contracts with customers	$	5,409	$	2,961	$	2,922	$	4,545	$	2,138	$	1,260	$	1,151
Other revenues
Revenues from alternative revenue programs	$	405	$	1	$	47	$	59	$	28	$	10	$	21
Other electric revenues(e)	22		13		12		11		8		3		—
Other natural gas revenues(e)	—		2		5		—		—		—		—

Total other revenues	$	427	$	16	$	64	$	70	$	36	$	13	$	21
Total revenues for reportable segments	$	5,836	$	2,977	$	2,986	$	4,615	$	2,174	$	1,273	$	1,172

__________

(a)Includes transmission revenue from PJM, wholesale electric revenue, and mutual assistance revenue.

(b)Includes operating revenues from affiliates in 2024 and 2023 respectively of:

•$6 million, $14 million at ComEd

•$5 million, $5 million at PECO

•$4 million, $4 million at BGE

•$7 million, $7 million at PHI

•$5 million, $5 million at Pepco

•$5 million, $5 million at DPL

•$2 million, $1 million at ACE

(c)Includes off-system natural gas sales.

(d)Includes operating revenues from affiliates in 2024 and 2023 respectively of:

•$2 million, $1 million at PECO

•$3 million, $2 million at BGE

(e)Includes late payment charge revenues.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Fair Value of Financial Assets and Liabilities - Fair Value Inputs Assets Quantitative Information (Details) - Fair Value, Inputs, Level 3 [Member] - Derivative [Member] - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$ (165,000,000)	$ (133,000,000)
Discounted Cash Flow [Member] \| Minimum [Member]
Derivatives, Fair Value [Line Items]
Fair Value Inputs Forward Power Price	22.68	30.27
Discounted Cash Flow [Member] \| Maximum [Member]
Derivatives, Fair Value [Line Items]
Fair Value Inputs Forward Power Price	55.35	73.71
Discounted Cash Flow [Member] \| Arithmetic Average [Member]
Derivatives, Fair Value [Line Items]
Fair Value Inputs Forward Power Price	36.45	43.35
Commonwealth Edison Co
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Amount Not Offset Against Collateral	$ (165,000,000)	$ (133,000,000)
Commonwealth Edison Co \| Discounted Cash Flow [Member] \| Minimum [Member]
Derivatives, Fair Value [Line Items]
Fair Value Inputs Forward Power Price	22.68	30.27
Commonwealth Edison Co \| Discounted Cash Flow [Member] \| Maximum [Member]
Derivatives, Fair Value [Line Items]
Fair Value Inputs Forward Power Price	55.35	73.71
Commonwealth Edison Co \| Discounted Cash Flow [Member] \| Arithmetic Average [Member]
Derivatives, Fair Value [Line Items]
Fair Value Inputs Forward Power Price	36.45	43.35

Derivative Financial Instruments - Schedule of Derivative Instruments (Details) - MWh MWh in Millions	1 Months Ended	3 Months Ended
	Jun. 30, 2012	Sep. 30, 2024
Commonwealth Edison Co
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Long-term Purchase Commitment, Minimum Energy Volume Required	1.3
PECO Energy Co
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimated Percent of Gas Purchases Being Hedged		10.00%
Delmarva Power and Light Company
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Estimated Percent of Gas Purchases Being Hedged		50.00%

Statements of Cash Flows (Unaudited) - BGE - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,813	$ 1,711
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	2,683	2,616
Deferred income taxes and amortization of investment tax credits	102	210
Other non-cash operating activities	441	(237)
Changes in assets and liabilities:
Accounts receivable	(489)	82
Inventories	(57)	(8)
Accounts payable and accrued expenses	(309)	(454)
Collateral received (paid), net	21	(183)
Income taxes	(18)	50
Regulatory assets and liabilities, net	194	(395)
Pension and non-pension postretirement benefit contributions	(140)	(97)
Other assets and liabilities	(87)	(24)
Net cash flows provided by operating activities	4,143	3,292
Cash flows from investing activities
Capital expenditures	(5,161)	(5,540)
Other investing activities	9	25
Net cash flows used in investing activities	(5,114)	(5,515)
Cash flows from financing activities
Changes in short-term borrowings	(1,093)	(1,116)
Proceeds from short-term borrowings with maturities greater than 90 days	150	400
Repayments on short-term borrowings with maturities greater than 90 days	(549)	(150)
Issuance of long-term debt	4,975	5,300
Retirement of long-term debt	(1,336)	(1,209)
Issuance of common stock	148	0
Dividends paid on common stock	(1,142)	(1,074)
Proceeds from employee stock plans	33	30
Other financing activities	(83)	(101)
Net cash flows provided by financing activities	1,103	2,080
Increase (decrease) in cash, restricted cash, and cash equivalents	132	(143)
Cash, restricted cash, and cash equivalents at beginning of period	1,101	1,090
Cash, restricted cash, and cash equivalents at end of period	1,233	947
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	6	(169)
Baltimore Gas and Electric Company
Cash flows from operating activities
Net income	353	286
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	474	487
Deferred income taxes and amortization of investment tax credits	(5)	41
Other non-cash operating activities	49	0
Changes in assets and liabilities:
Accounts receivable	25	194
Receivables from and payables to affiliates, net	14	(7)
Inventories	(6)	45
Accounts payable and accrued expenses	37	(38)
Collateral received (paid), net	0	(22)
Income taxes	(51)	19
Regulatory assets and liabilities, net	(69)	(151)
Pension and non-pension postretirement benefit contributions	(34)	(15)
Other assets and liabilities	102	46
Net cash flows provided by operating activities	889	885
Cash flows from investing activities
Capital expenditures	(1,033)	(986)
Other investing activities	10	6
Net cash flows used in investing activities	(1,023)	(980)
Cash flows from financing activities
Changes in short-term borrowings	(336)	(349)
Issuance of long-term debt	800	700
Retirement of long-term debt	0	(300)
Dividends paid on common stock	(276)	(237)
Contributions from parent	237	237
Other financing activities	(9)	(7)
Net cash flows provided by financing activities	416	44
Increase (decrease) in cash, restricted cash, and cash equivalents	282	(51)
Cash, restricted cash, and cash equivalents at beginning of period	48	67
Cash, restricted cash, and cash equivalents at end of period	330	16
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	$ 38	$ (17)

Derivative Financial Instruments - Summary of Counterparty Collateral (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	$ 569	$ 557
Baltimore Gas and Electric Company
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	48	9
External Counterparties \| Commodity Contract [Member] \| Collateral [Member]
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	170	148
External Counterparties \| Commodity Contract [Member] \| Collateral [Member] \| Commonwealth Edison Co
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	167	146
External Counterparties \| Commodity Contract [Member] \| Collateral [Member] \| PECO Energy Co
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	0	0
External Counterparties \| Commodity Contract [Member] \| Collateral [Member] \| Baltimore Gas and Electric Company
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	1	1
External Counterparties \| Commodity Contract [Member] \| Collateral [Member] \| Pepco Holdings LLC
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	2	1
External Counterparties \| Commodity Contract [Member] \| Collateral [Member] \| Potomac Electric Power Company
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	0	1
External Counterparties \| Commodity Contract [Member] \| Collateral [Member] \| Delmarva Power and Light Company
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	2	0
External Counterparties \| Commodity Contract [Member] \| Collateral [Member] \| Atlantic City Electric Company
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other	$ 0	$ 0

Accounts Receivable - Allowance for Credit Losses Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Current period provision for expected credit losses			$ 170	$ 86
Commonwealth Edison Co
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Current period provision for expected credit losses			17	4
PECO Energy Co
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Current period provision for expected credit losses			79	31
Baltimore Gas and Electric Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Current period provision for expected credit losses			23	4
Pepco Holdings LLC
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Current period provision for expected credit losses			51	47
Potomac Electric Power Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Current period provision for expected credit losses			25	27
Delmarva Power and Light Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Current period provision for expected credit losses			7	9
Atlantic City Electric Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Current period provision for expected credit losses			19	11
Customer accounts receivable
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 372	$ 323	317	327
Current period provision for expected credit losses	84	72	221	144
Writeoffs, net of recoveries	30	54	112	130
Ending balance	426	341	426	341
Customer accounts receivable \| Commonwealth Edison Co
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	112	67	69	59
Current period provision for expected credit losses	16	24	77	45
Writeoffs, net of recoveries	7	15	25	28
Ending balance	121	76	121	76
Customer accounts receivable \| PECO Energy Co
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	112	101	95	105
Current period provision for expected credit losses	28	13	63	32
Writeoffs, net of recoveries	5	19	23	42
Ending balance	135	95	135	95
Customer accounts receivable \| Baltimore Gas and Electric Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	45	50	46	54
Current period provision for expected credit losses	20	9	34	23
Writeoffs, net of recoveries	5	7	20	25
Ending balance	60	52	60	52
Customer accounts receivable \| Pepco Holdings LLC
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	103	105	107	109
Current period provision for expected credit losses	20	26	47	44
Writeoffs, net of recoveries	13	13	44	35
Ending balance	110	118	110	118
Customer accounts receivable \| Potomac Electric Power Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	53	50	52	47
Current period provision for expected credit losses	12	11	30	24
Writeoffs, net of recoveries	7	5	24	15
Ending balance	58	56	58	56
Customer accounts receivable \| Delmarva Power and Light Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	16	21	19	21
Current period provision for expected credit losses	4	6	8	10
Writeoffs, net of recoveries	3	4	10	8
Ending balance	17	23	17	23
Customer accounts receivable \| Atlantic City Electric Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	34	34	36	41
Current period provision for expected credit losses	4	9	9	10
Writeoffs, net of recoveries	3	4	10	12
Ending balance	35	39	35	39
Other receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	108	87	82	82
Current period provision for expected credit losses	7	6	43	21
Writeoffs, net of recoveries	4	5	14	15
Ending balance	111	88	111	88
Other receivables \| Commonwealth Edison Co
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	29	18	17	17
Current period provision for expected credit losses	10	3	25	6
Writeoffs, net of recoveries	0	1	3	3
Ending balance	39	20	39	20
Other receivables \| PECO Energy Co
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	20	8	8	9
Current period provision for expected credit losses	1	2	15	3
Writeoffs, net of recoveries	1	2	3	4
Ending balance	20	8	20	8
Other receivables \| Baltimore Gas and Electric Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	5	8	7	10
Current period provision for expected credit losses	3	3	4	5
Writeoffs, net of recoveries	2	2	5	6
Ending balance	6	9	6	9
Other receivables \| Pepco Holdings LLC
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	54	53	50	46
Current period provision for expected credit losses	(7)	(2)	(1)	7
Writeoffs, net of recoveries	1	0	3	2
Ending balance	46	51	46	51
Other receivables \| Potomac Electric Power Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	34	31	28	25
Current period provision for expected credit losses	(8)	(2)	(2)	4
Writeoffs, net of recoveries	0	0	0	0
Ending balance	26	29	26	29
Other receivables \| Delmarva Power and Light Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	7	9	8	7
Current period provision for expected credit losses	0	0	(1)	2
Writeoffs, net of recoveries	0	0	0	0
Ending balance	7	9	7	9
Other receivables \| Atlantic City Electric Company
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	13	13	14	14
Current period provision for expected credit losses	1	0	2	1
Writeoffs, net of recoveries	1	0	3	2
Ending balance	$ 13	$ 13	$ 13	$ 13

Fair Value of Financial Assets and Liabilities (All Registrants)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Assets and Liabilities (All Registrants)

Exelon measures and classifies fair value measurements in accordance with the hierarchy as defined by GAAP. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three levels as follows:

•Level 1 — quoted prices (unadjusted) in active markets for identical assets or liabilities that the Registrants have the ability to liquidate as of the reporting date.

•Level 2 — inputs other than quoted prices included within Level 1 that are directly observable for the asset or liability or indirectly observable through corroboration with observable market data.

•Level 3 — unobservable inputs, such as internally developed pricing models or third-party valuations for the asset or liability due to little or no market activity for the asset or liability.

Exelon’s valuation techniques used to measure the fair value of the assets and liabilities shown in the tables below are in accordance with the policies discussed in Note 17 — Fair Value of Financial Assets and Liabilities of the 2023 Form 10-K.

Fair Value of Financial Liabilities Recorded at Amortized Cost


	September 30, 2024										December 31, 2023
	Carrying Amount		Fair Value								Carrying Amount		Fair Value
			Level 1		Level 2		Level 3		Total				Level 1		Level 2		Level 3		Total
Long-Term Debt, including amounts due within one year(a)
Exelon	$	44,655	$	—	$	37,642	$	3,937	$	41,579	$	41,095	$	—	$	33,804	$	3,442	$	37,246
ComEd	12,028		—		10,957		—		10,957		11,486		—		10,210		—		10,210
PECO	5,703		—		5,156		—		5,156		5,134		—		4,562		—		4,562
BGE	5,395		—		5,021		—		5,021		4,602		—		4,145		—		4,145
PHI	9,135		—		4,333		3,937		8,270		8,648		—		4,160		3,442		7,602
Pepco	4,362		—		2,638		1,634		4,272		4,096		—		2,311		1,600		3,911
DPL	2,221		—		667		1,329		1,996		2,080		—		694		1,134		1,828
ACE	1,935		—		809		974		1,783		1,833		—		939		708		1,647
Long-Term Debt to Financing Trusts
Exelon	$	390	$	—	$	—	$	409	$	409	$	390	$	—	$	—	$	390	$	390
ComEd	206		—		—		215		215		205		—		—		208		208
PECO	184		—		—		194		194		184		—		—		182		182

__________

Recurring Fair Value Measurements

Exelon


	At September 30, 2024						At December 31, 2023
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	861	$	—	$	—	$	861	$	618	$	—	$	—	$	618
Rabbi trust investments
Cash equivalents	93		—		—		93		67		—		—		67
Mutual funds	62		—		—		62		53		—		—		53
Fixed income	—		7		—		7		—		7		—		7
Life insurance contracts	—		70		22		92		—		61		43		104
Rabbi trust investments subtotal	155		77		22		254		120		68		43		231

Interest rate derivative assets
Derivatives designated as hedging instruments	—		—		—		—		—		11		—		11
Economic hedges	—		—		—		—		—		1		—		1
Interest rate derivative assets subtotal	—		—		—		—		—		12		—		12
Total assets	1,016		77		22		1,115		738		80		43		861
Liabilities
Commodity derivative liabilities	—		—		(165)		(165)		—		—		(133)		(133)
Interest rate derivative liabilities
Derivatives designated as hedging instruments	—		(39)		—		(39)		—		(24)		—		(24)
Economic hedges	—		—		—		—		—		(22)		—		(22)
Interest rate derivative liabilities subtotal	—		(39)		—		(39)		—		(46)		—		(46)
Deferred compensation obligation	—		(75)		—		(75)		—		(75)		—		(75)
Total liabilities	—		(114)		(165)		(279)		—		(121)		(133)		(254)
Total net assets (liabilities)	$	1,016	$	(37)	$	(143)	$	836	$	738	$	(41)	$	(90)	$	607

__________

ComEd, PECO, and BGE


	ComEd								PECO								BGE
At September 30, 2024	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	403	$	—	$	—	$	403	$	18	$	—	$	—	$	18	$	313	$	—	$	—	$	313
Rabbi trust investments

Mutual funds	—		—		—		—		11		—		—		11		10		—		—		10
Life insurance contracts	—		—		—		—		—		21		—		21		—		—		—		—
Rabbi trust investments subtotal	—		—		—		—		11		21		—		32		10		—		—		10

Total assets	403		—		—		403		29		21		—		50		323		—		—		323
Liabilities
Commodity derivative liabilities(b)	—		—		(165)		(165)		—		—		—		—		—		—		—		—
Deferred compensation obligation	—		(9)		—		(9)		—		(7)		—		(7)		—		(4)		—		(4)
Total liabilities	—		(9)		(165)		(174)		—		(7)		—		(7)		—		(4)		—		(4)
Total net assets (liabilities)	$	403	$	(9)	$	(165)	$	229	$	29	$	14	$	—	$	43	$	323	$	(4)	$	—	$	319


	ComEd								PECO								BGE
At December 31, 2023	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	453	$	—	$	—	$	453	$	9	$	—	$	—	$	9	$	—	$	—	$	—	$	—
Rabbi trust investments
Mutual funds	—		—		—		—		9		—		—		9		9		—		—		9
Life insurance contracts	—		—		—		—		—		18		—		18		—		—		—		—
Rabbi trust investments subtotal	—		—		—		—		9		18		—		27		9		—		—		9
Total assets	453		—		—		453		18		18		—		36		9		—		—		9
Liabilities
Commodity derivative liabilities(b)	—		—		(133)		(133)		—		—		—		—		—		—		—		—
Deferred compensation obligation	—		(8)		—		(8)		—		(8)		—		(8)		—		(4)		—		(4)
Total liabilities	—		(8)		(133)		(141)		—		(8)		—		(8)		—		(4)		—		(4)
Total net assets (liabilities)	$	453	$	(8)	$	(133)	$	312	$	18	$	10	$	—	$	28	$	9	$	(4)	$	—	$	5

__________

cash of $18 million and $47 million at September 30, 2024 and December 31, 2023, respectively, and restricted cash of zero and $1 million at September 30, 2024 and December 31, 2023, respectively.

PHI, Pepco, DPL, and ACE


	At September 30, 2024								At December 31, 2023
PHI	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	74	$	—	$	—	$	74	$	107	$	—	$	—	$	107
Rabbi trust investments
Cash equivalents	90		—		—		90		64		—		—		64
Mutual funds	9		—		—		9		9		—		—		9
Fixed income	—		7		—		7		—		7		—		7
Life insurance contracts	—		23		21		44		—		21		41		62
Rabbi trust investments subtotal	99		30		21		150		73		28		41		142
Total assets	173		30		21		224		180		28		41		249
Liabilities
Deferred compensation obligation	—		(11)		—		(11)		—		(13)		—		(13)



Total liabilities	—		(11)		—		(11)		—		(13)		—		(13)
Total net assets	$	173	$	19	$	21	$	213	$	180	$	15	$	41	$	236


	Pepco								DPL								ACE
At September 30, 2024	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	21	$	—	$	—	$	21	$	3	$	—	$	—	$	3	$	—	$	—	$	—	$	—




Rabbi trust investments
Cash equivalents	90		—		—		90		—		—		—		—		—		—		—		—

Life insurance contracts	—		23		21		44		—		—		—		—		—		—		—		—
Rabbi trust investments subtotal	90		23		21		134		—		—		—		—		—		—		—		—
Total assets	111		23		21		155		3		—		—		3		—		—		—		—
Liabilities
Deferred compensation obligation	—		(1)		—		(1)		—		—		—		—		—		—		—		—



Total liabilities	—		(1)		—		(1)		—		—		—		—		—		—		—		—
Total net assets	$	111	$	22	$	21	$	154	$	3	$	—	$	—	$	3	$	—	$	—	$	—	$	—


	Pepco								DPL								ACE
At December 31, 2023	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Cash equivalents(a)	$	23	$	—	$	—	$	23	$	1	$	—	$	—	$	1	$	—	$	—	$	—	$	—
Rabbi trust investments
Cash equivalents	63		—		—		63		—		—		—		—		—		—		—		—


Life insurance contracts	—		21		41		62		—		—		—		—		—		—		—		—
Rabbi trust investments subtotal	63		21		41		125		—		—		—		—		—		—		—		—
Total assets	86		21		41		148		1		—		—		1		—		—		—		—
Liabilities
Deferred compensation obligation	—		(1)		—		(1)		—		—		—		—		—		—		—		—



Total liabilities	—		(1)		—		(1)		—		—		—		—		—		—		—		—
Total net assets	$	86	$	20	$	41	$	147	$	1	$	—	$	—	$	1	$	—	$	—	$	—	$	—

__________

Reconciliation of Level 3 Assets and Liabilities



	Exelon		ComEd			PHI and Pepco
Three Months Ended September 30, 2024	Total		Commodity Derivatives			Life Insurance Contracts
Balance at June 30, 2024	$	(116)	$	(139)		$	22
Total realized / unrealized gains (losses)
Included in net income(a)	—		—			—


Included in regulatory assets/liabilities	(26)		(26)		(b)	—

Purchases, sales, and settlements



Settlements	(1)		—			(1)


Balance at September 30, 2024	$	(143)	$	(165)	(c)	$	21
The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at September 30, 2024	$	—	$	—		$	—



	Exelon		ComEd			PHI and Pepco
Three Months Ended September 30, 2023	Total		Commodity Derivatives			Life Insurance Contracts
Balance at June 30, 2023	$	(91)	$	(133)		$	42
Total realized / unrealized gains (losses)
Included in net income(a)	—		—			(2)

Included in regulatory assets/liabilities	(1)		(1)		(b)	—








Balance at September 30, 2023	$	(92)	$	(134)		$	40
The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at September 30, 2023	$	—	$	—		$	(2)


	Exelon		ComEd			PHI and Pepco
Nine Months Ended September 30, 2024	Total		Commodity Derivatives			Life Insurance Contracts
Balance at December 31, 2023	$	(90)	$	(133)		$	41
Total realized / unrealized gains (losses)
Included in net income(a)	1		—			2


Included in regulatory assets/liabilities	(32)		(32)		(b)	—

Purchases, sales, and settlements



Settlements	(22)		—			(22)


Balance at September 30, 2024	$	(143)	$	(165)	(c)	$	21
The amount of total gains included in income attributed to the change in unrealized gains related to assets and liabilities at September 30, 2024	$	2	$	—		$	2


	Exelon		ComEd			PHI and Pepco
Nine Months Ended September 30, 2023	Total		Commodity Derivatives			Life Insurance Contracts
Balance at December 31, 2022	$	(44)	$	(84)		$	40
Total realized / unrealized gains (losses)
Included in net income(a)	2		—			—


Included in regulatory assets/liabilities	(50)		(50)		(b)	—








Balance at September 30, 2023	$	(92)	$	(134)		$	40
The amount of total gains included in income attributed to the change in unrealized gain related to assets and liabilities at September 30, 2023	$	2	$	—		$	—

__________

(a)Classified in Operating and maintenance expense in the Consolidated Statements of Operations and Comprehensive Income.

Commodity Derivatives (Exelon and ComEd)

The table below discloses the significant unobservable inputs to the forward curve used to value mark-to-market derivatives.


Type of trade	Fair Value at September 30, 2024		Fair Value at December 31, 2023		Valuation Technique	Unobservable Input	2024 Range & Arithmetic Average				2023 Range & Arithmetic Average
Commodity derivatives	$	(165)	$	(133)	Discounted Cash Flow	Forward power price(a)	$22.68	-	$55.35	$36.45	$30.27	-	$73.71	$43.35

________

(a)An increase to the forward power price would increase the fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Significant Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2024

Accounting Policies [Abstract]

Description of Business and Basis of Presentation (All Registrants)

Description of Business

Exelon is a utility services holding company engaged in the energy transmission and distribution businesses through ComEd, PECO, BGE, Pepco, DPL, and ACE.

Name of Registrant

Business

Service Territories

Commonwealth Edison Company

Purchase and regulated retail sale of electricity

Northern Illinois, including the City of Chicago

Transmission and distribution of electricity to retail customers

PECO Energy Company

Purchase and regulated retail sale of electricity and natural gas

Southeastern Pennsylvania, including the City of Philadelphia (electricity)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Pennsylvania counties surrounding the City of Philadelphia (natural gas)

Baltimore Gas and Electric Company

Purchase and regulated retail sale of electricity and natural gas

Central Maryland, including the City of Baltimore (electricity and natural gas)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Pepco Holdings LLC

Utility services holding company engaged, through its reportable segments Pepco, DPL, and ACE

Service Territories of Pepco, DPL, and ACE

Potomac Electric
Power Company

Purchase and regulated retail sale of electricity

District of Columbia, and major portions of Montgomery and Prince George’s Counties, Maryland

Transmission and distribution of electricity to retail customers

Delmarva Power &
Light Company

Purchase and regulated retail sale of electricity and natural gas

Portions of Delaware and Maryland (electricity)

Transmission and distribution of electricity and distribution of natural gas to retail customers

Portions of New Castle County, Delaware (natural gas)

Atlantic City Electric Company

Purchase and regulated retail sale of electricity

Portions of Southern New Jersey

Transmission and distribution of electricity to retail customers

Basis of Presentation

financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations.

New Accounting Standards (All Registrants)

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Feb. 29, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax		$ (736)		$ (736)			$ (726)
Corporate, Non-Segment \| Notes Payable to Banks
Derivative [Line Items]
Derivative, Notional Amount	$ 1,700
Derivative, cash received on hedge	30
PECO Energy Co
Derivative [Line Items]
Incremental collateral for loss of investment grade credit rating		18		18
Baltimore Gas and Electric Company
Derivative [Line Items]
Incremental collateral for loss of investment grade credit rating		37		37
Delmarva Power and Light Company
Derivative [Line Items]
Incremental collateral for loss of investment grade credit rating		9		9
InterestRateSwapNotionalTerminated \| Cash Flow Hedging
Derivative [Line Items]
Derivative, Notional Amount	1,300
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 33					$ 23
InterestRateSwapNotional5YR \| Cash Flow Hedging
Derivative [Line Items]
Derivative, Notional Amount		$ 602		602			655
Derivative, term of contract		5 years
InterestRateSwapNotional5YR \| Cash Flow Hedging \| Corporate, Non-Segment
Derivative [Line Items]
Derivative, Notional Amount		$ 205		205
InterestRateSwapNotional10YR \| Cash Flow Hedging
Derivative [Line Items]
Derivative, Notional Amount		$ 603		603			655
Derivative, term of contract		10 years
InterestRateSwapNotional10YR \| Cash Flow Hedging \| Corporate, Non-Segment
Derivative [Line Items]
Derivative, Notional Amount		$ 205		205
Interest Rate Swap \| Cash Flow Hedging
Derivative [Line Items]
Derivative, Notional Amount		1,205		1,205			1,310
Derivative, Gain (Loss) on Derivative, Net		29	$ 22	30	$ 31
Derivative, Gain (Loss) on Derivative, Net		29	$ 22	30	$ 31
Interest Rate Swap \| Cash Flow Hedging \| Corporate, Non-Segment
Derivative [Line Items]
Derivative, Notional Amount		$ 410		$ 410
Interest Rate Cap \| Economic Hedges
Derivative [Line Items]
Derivative, Notional Amount							1,000
Constant Maturity Treasury Interest Rate Swaps \| Not Designated as Hedging Instrument, Economic Hedge [Member]
Derivative [Line Items]
Total mark-to-market derivative liabilities							(22)
Constant Maturity Treasury Interest Rate Swaps \| Not Designated as Hedging Instrument, Economic Hedge [Member] \| 2023
Derivative [Line Items]
Derivative, Notional Amount							$ 4,875

Consolidated Balance Sheets (Unaudited) - PHI - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 616	$ 445
Restricted cash and cash equivalents	552	482
Accounts receivable
Customer accounts receivable	2,971	2,659
Customer allowance for credit losses	(426)	(317)
Customer accounts receivable, net	2,545	2,342
Other accounts receivable	1,226	1,101
Other allowance for credit losses	(111)	(82)
Other accounts receivable, net	1,115	1,019
Inventories, net
Fossil fuel	78	94
Materials and supplies	777	707
Regulatory assets	1,869	2,215
Other	471	473
Total current assets	8,023	7,777
Property, plant and equipment, net	76,661	73,593
Deferred debits and other assets
Regulatory assets	8,657	8,698
Goodwill	6,630	6,630
Investments	279	251
Other	1,498	1,365
Total deferred debits and other assets	21,386	20,176
Total assets	106,070	101,546
Current liabilities
Short-term borrowings	1,031	2,523
Long-term debt due within one year	954	1,403
Accrued expenses	1,284	1,375
Customer deposits	432	411
Regulatory liabilities	430	389
Unamortized energy contract liabilities	6	8
Other	569	557
Total current liabilities	7,384	9,591
Long-term debt	43,701	39,692
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	12,551	11,956
Regulatory liabilities	10,563	9,576
Asset retirement obligations	289	267
Non-pension postretirement benefit obligations	528	527
Unamortized energy contract liabilities	22	27
Other	2,287	2,088
Total deferred credits and other liabilities	27,973	26,118
Total liabilities	79,448	75,791
Commitments and contingencies
Members' Equity [Abstract]
Retained earnings	6,161	5,490
Total liabilities and shareholders’ equity	106,070	101,546
Related Party
Current liabilities
Accounts payable	5	5
Nonrelated Party
Current liabilities
Accounts payable	2,648	2,846
Pepco Holdings LLC
Current assets
Cash and cash equivalents	100	180
Restricted cash and cash equivalents	22	24
Accounts receivable
Customer accounts receivable	806	745
Customer allowance for credit losses	(110)	(107)
Customer accounts receivable, net	696	638
Other accounts receivable	321	310
Other allowance for credit losses	(46)	(50)
Other accounts receivable, net	275	260
Inventories, net
Fossil fuel	7	9
Materials and supplies	320	287
Regulatory assets	326	337
Other	70	100
Total current assets	1,822	1,838
Property, plant and equipment, net	19,632	18,851
Deferred debits and other assets
Regulatory assets	1,597	1,587
Goodwill	4,005	4,005
Investments	151	143
Prepaid pension asset	272	268
Total deferred debits and other assets	6,218	6,214
Total assets	27,672	26,903
Current liabilities
Short-term borrowings	218	394
Long-term debt due within one year	140	644
Accrued expenses	330	338
Customer deposits	111	100
Regulatory liabilities	73	71
Unamortized energy contract liabilities	6	8
PPA termination obligation	10	49
Total current liabilities	1,754	2,549
Long-term debt	8,995	8,004
Deferred credits and other liabilities
Deferred income taxes and unamortized investment tax credits	3,157	3,031
Regulatory liabilities	828	904
Asset retirement obligations	56	55
Non-pension postretirement benefit obligations	36	40
Unamortized energy contract liabilities	23	27
Other	481	511
Total deferred credits and other liabilities	4,581	4,568
Total liabilities	15,330	15,121
Commitments and contingencies
Members' Equity [Abstract]
Membership interest	12,562	12,057
Retained earnings	(220)	(275)
Total members' equity	12,342	11,782
Total liabilities and shareholders’ equity	27,672	26,903
Pepco Holdings LLC \| Related Party
Accounts receivable
Receivables from affiliates	6	3
Current liabilities
Accounts payable	54	59
Other	75	65
Pepco Holdings LLC \| Nonrelated Party
Deferred debits and other assets
Other	193	211
Current liabilities
Accounts payable	635	683
Other	$ 102	$ 138

Supplemental Financial Information - Operations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other, Net [Abstract]
AFUDC - Equity	$ 38	$ 40	$ 116	$ 113
Non-service net periodic benefit cost	(13)	(18)	(29)	(18)
Commonwealth Edison Co
Other, Net [Abstract]
AFUDC - Equity	13	7	32	25
Non-service net periodic benefit cost	0	0	0	0
PECO Energy Co
Other, Net [Abstract]
AFUDC - Equity	7	10	24	22
Non-service net periodic benefit cost	0	0	0	0
Baltimore Gas and Electric Company
Other, Net [Abstract]
AFUDC - Equity	5	4	18	11
Non-service net periodic benefit cost	0	0	0	0
Pepco Holdings LLC
Other, Net [Abstract]
AFUDC - Equity	12	19	42	55
Non-service net periodic benefit cost	0	0	0	0
Potomac Electric Power Company
Other, Net [Abstract]
AFUDC - Equity	8	15	32	42
Non-service net periodic benefit cost	0	0	0	0
Delmarva Power and Light Company
Other, Net [Abstract]
AFUDC - Equity	3	3	9	7
Non-service net periodic benefit cost	0	0	0	0
Atlantic City Electric Company
Other, Net [Abstract]
AFUDC - Equity	1	1	1	6
Non-service net periodic benefit cost	$ 0	$ 0	$ 0	$ 0

Consolidated Statements of Changes in Member's Equity (Unaudited) - PHI - USD ($) $ in Millions	Total	Undistributed (Losses)/Gains	Pepco Holdings LLC	Pepco Holdings LLC Membership Interest	Pepco Holdings LLC Undistributed (Losses)/Gains
Beginning balance at Dec. 31, 2022			$ 11,230	$ 11,582	$ (352)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 669	$ 669	155		155
Distributions to member			(112)		(112)
Contributions from member			405	405
Ending balance at Mar. 31, 2023			11,678	11,987	(309)
Beginning balance at Dec. 31, 2022			11,230	11,582	(352)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,711		490
Ending balance at Sep. 30, 2023			11,785	12,057	(272)
Beginning balance at Mar. 31, 2023			11,678	11,987	(309)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343	343	103		103
Distributions to member			(100)		(100)
Ending balance at Jun. 30, 2023			11,681	11,987	(306)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	700	700	232		232
Distributions to member			(198)		(198)
Contributions from member			70	70
Ending balance at Sep. 30, 2023			11,785	12,057	(272)
Beginning balance at Dec. 31, 2023			11,782	12,057	(275)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	658	658	168		168
Distributions to member			(118)		(118)
Contributions from member			487	487
Ending balance at Mar. 31, 2024			12,319	12,544	(225)
Beginning balance at Dec. 31, 2023			11,782	12,057	(275)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,813		603
Ending balance at Sep. 30, 2024			12,342	12,562	(220)
Beginning balance at Mar. 31, 2024			12,319	12,544	(225)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	448	448	158		158
Distributions to member			(164)		(164)
Ending balance at Jun. 30, 2024			12,313	12,544	(231)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 707	$ 707	278		278
Distributions to member			(267)		(267)
Contributions from member			18	18
Ending balance at Sep. 30, 2024			$ 12,342	$ 12,562	$ (220)

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
-SubTopic 60
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476176/805-60-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 323
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (g)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478666/740-323-65-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
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+ Details

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 85	$ 94
Offsetting receivable	4,322	3,232
Constellation Energy Corp
Income Tax Contingency [Line Items]
Unrecognized tax benefits	31	31
Deferred Costs and Other Assets
Income Tax Contingency [Line Items]
Offsetting receivable	31	31
Pepco Holdings LLC
Income Tax Contingency [Line Items]
Unrecognized tax benefits	38	51
Atlantic City Electric Company
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 1	$ 15

Statements of Changes in Shareholders Equity (Unaudited) - Pepco - USD ($) $ in Millions	Total	Retained Earnings	Potomac Electric Power Company	Potomac Electric Power Company Common Stock	Potomac Electric Power Company Retained Earnings
Beginning Balance at Dec. 31, 2022			$ 3,782	$ 2,767	$ 1,015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 669	$ 669	65		65
Common stock dividends	(359)	(359)	(48)		(48)
Contributions from parent			243	243
Ending Balance at Mar. 31, 2023			4,042	3,010	1,032
Beginning Balance at Dec. 31, 2022			3,782	2,767	1,015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,711		249
Ending Balance at Sep. 30, 2023			4,139	3,075	1,064
Beginning Balance at Mar. 31, 2023			4,042	3,010	1,032
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	343	343	64		64
Common stock dividends	(359)	(359)	(67)		(67)
Ending Balance at Jun. 30, 2023			4,039	3,010	1,029
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	700	700	120		120
Common stock dividends	(358)	(358)	(85)		(85)
Contributions from parent			65	65
Ending Balance at Sep. 30, 2023			4,139	3,075	1,064
Beginning Balance at Dec. 31, 2023	25,755		4,144	3,075	1,069
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	658	658	75		75
Common stock dividends	(381)	(381)	(51)		(51)
Contributions from parent			251	251
Ending Balance at Mar. 31, 2024			4,419	3,326	1,093
Beginning Balance at Dec. 31, 2023	25,755		4,144	3,075	1,069
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,813		323
Ending Balance at Sep. 30, 2024	26,622		4,441	3,335	1,106
Beginning Balance at Mar. 31, 2024			4,419	3,326	1,093
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	448	448	108		108
Common stock dividends	(380)	(380)	(102)		(102)
Ending Balance at Jun. 30, 2024			4,425	3,326	1,099
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	707	707	140		140
Common stock dividends	(381)	$ (381)	(133)		(133)
Contributions from parent			9	9
Ending Balance at Sep. 30, 2024	$ 26,622		$ 4,441	$ 3,335	$ 1,106

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481203/810-10-50-1A

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

+ Details

Derivative Financial Instruments - Summary of Interest Rate Hedge Balances (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Mark-to-market derivative liabilities (noncurrent liabilities)	$ 180	$ 106
Mark-to-market derivative liabilities (current liabilities)	25	74
Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other current assets		12
Total derivative assets		12
Mark-to-market derivative liabilities (noncurrent liabilities)	39
Mark-to-market derivative liabilities (current liabilities)		46
Total mark-to-market derivative liabilities	(39)	(46)
Total mark-to-market derivative net liabilities	(39)	(34)
Interest Rate Contract \| Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other current assets		11
Total derivative assets		11
Mark-to-market derivative liabilities (noncurrent liabilities)	39
Mark-to-market derivative liabilities (current liabilities)		24
Total mark-to-market derivative liabilities	(39)	(24)
Total mark-to-market derivative net liabilities	(39)	(13)
Interest Rate Contract \| Economic Hedges
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other current assets		1
Total derivative assets		1
Mark-to-market derivative liabilities (noncurrent liabilities)	0
Mark-to-market derivative liabilities (current liabilities)		22
Total mark-to-market derivative liabilities	0	(22)
Total mark-to-market derivative net liabilities	$ 0	$ (21)

Statements of Operations and Comprehensive Income (Unaudited) - DPL - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Revenues from alternative revenue programs	$ (54)	$ 108	$ (29)	$ 513
Total operating revenues	6,154	5,980	17,557	16,360
Operating expenses
Operating and maintenance	1,275	1,187	3,756	3,535
Depreciation and amortization	908	890	2,681	2,616
Taxes other than income taxes	395	383	1,127	1,063
Total operating expenses	4,961	4,857	14,348	13,429
Operating income	1,196	1,123	3,221	2,931
Other income and (deductions)
Interest expense, net	(490)	(431)	(1,428)	(1,259)
Other, net	57	81	196	331
Total other income and (deductions)	(439)	(356)	(1,250)	(946)
Income before income taxes	757	767	1,971	1,985
Income taxes	50	67	158	274
Net income	707	700	1,813	1,711
Delmarva Power and Light Company
Operating revenues
Revenues from alternative revenue programs	(3)	(2)	1	10
Total operating revenues	462	450	1,343	1,273
Operating expenses
Operating and maintenance	49	60	151	150
Depreciation and amortization	62	62	183	182
Taxes other than income taxes	20	19	59	57
Total operating expenses	377	386	1,099	1,079
Operating income	85	64	244	194
Other income and (deductions)
Interest expense, net	(22)	(18)	(69)	(53)
Other, net	6	5	20	12
Total other income and (deductions)	(16)	(13)	(49)	(41)
Income before income taxes	69	51	195	153
Income taxes	14	8	39	25
Net income	55	43	156	128
Comprehensive income	55	43	156	128
Delmarva Power and Light Company \| Related Party
Operating revenues
Operating revenues from affiliates	2	2	5	5
Operating expenses
Operating and maintenance from affiliates	43	44	133	128
Electricity, US Regulated
Operating revenues
Electric operating revenues	6,012	5,684	16,379	14,579
Operating expenses
Purchased power and/or fuel	2,349	2,364	6,483	5,766
Electricity, US Regulated \| Delmarva Power and Light Company
Operating revenues
Electric operating revenues	440	426	1,215	1,108
Operating expenses
Purchased power and/or fuel	196	192	529	486
Natural Gas, US Regulated
Operating revenues
Electric operating revenues	196	188	1,207	1,268
Operating expenses
Purchased power and/or fuel	34	33	301	449
Natural Gas, US Regulated \| Delmarva Power and Light Company
Operating revenues
Electric operating revenues	23	24	122	150
Operating expenses
Purchased power and/or fuel	$ 7	$ 9	$ 44	$ 76

Regulatory Matters - Narrative (Details) $ in Millions				9 Months Ended		36 Months Ended	48 Months Ended
Regulatory Matters - Narrative (Details) $ in Millions	Dec. 14, 2023 USD ($)	Sep. 27, 2022	Feb. 03, 2022	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2025 USD ($)	Dec. 31, 2027 USD ($)	Mar. 31, 2022 USD ($)
Commonwealth Edison Co
Regulatory Matters Additional Narrative Information [Line Items]
Basis points for ComEd's Revenue Requirement			580
Maximum increase of revenue requirement				105.00%
Basis Points - ComEd Symmetrical Performance Adjustments		32
Increase (Decrease) in Regulatory Assets				$ 414
Increase (Decrease) in Regulatory Liabilities				1,155
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Base Rate Case
Regulatory Matters Additional Narrative Information [Line Items]
Approved Revenue Requirement Increase (Decrease)	$ 501
Commonwealth Edison Co \| Forecast [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Beneficial electrification approved annual spending						$ 77
Commonwealth Edison Co \| Forecast [Member] \| 2023 \| Illinois 2023 Electric Distribution Base Rate Case
Regulatory Matters Additional Narrative Information [Line Items]
Approved Revenue Requirement Increase (Decrease)							$ (986)
Commonwealth Edison Co \| Nuclear Decommissioning [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Liabilities				1,029
Commonwealth Edison Co \| ComEd FERC Audit Settlement Regulatory Liability
Regulatory Matters Additional Narrative Information [Line Items]
Regulatory Liabilities				70
Commonwealth Edison Co \| Carbon Mitigation Credit rider
Regulatory Matters Additional Narrative Information [Line Items]
Regulatory Assets				183
Increase (Decrease) in Regulatory Assets				490
PECO Energy Co
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets				69
Increase (Decrease) in Regulatory Liabilities				53
PECO Energy Co \| Nuclear Decommissioning [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Liabilities				60
PECO Energy Co \| Deferred Income Tax Charge [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets				96
Baltimore Gas and Electric Company
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Liabilities				(102)
Baltimore Gas and Electric Company \| Deferred Income Tax Charge [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Liabilities				(101)
Potomac Electric Power Company
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets				29
Increase (Decrease) in Regulatory Liabilities				(46)
Potomac Electric Power Company \| Deferred Income Tax Charge [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Liabilities				(46)
Potomac Electric Power Company \| Multi-year plan reconciliation
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets				27
Potomac Electric Power Company \| Revenue deferral mechanism
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets				9
Atlantic City Electric Company
Regulatory Matters Additional Narrative Information [Line Items]
Contract Termination Liability				10				$ 203
Gain (Loss) on Contract Termination				40	$ 65
Increase (Decrease) in Regulatory Assets				(10)
Increase (Decrease) in Regulatory Liabilities				10
Atlantic City Electric Company \| Under/Over Recovered Transmission Costs
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Liabilities				12
Atlantic City Electric Company \| Under Recovered Energy and Natural Gas Costs
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Assets				(37)
Delmarva Power and Light Company
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Liabilities				(37)
Delmarva Power and Light Company \| Deferred Income Tax Charge [Member]
Regulatory Matters Additional Narrative Information [Line Items]
Increase (Decrease) in Regulatory Liabilities				$ (20)

Accounts Receivable (Tables)

9 Months Ended

Sep. 30, 2024

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Allowance for credit loss rollforward

The following tables present the rollforward of Allowance for Credit Losses on Customer Accounts Receivable.


	Three Months Ended September 30, 2024
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at June 30, 2024	$	372	$	112	$	112	$	45	$	103	$	53	$	16	$	34
Plus: Current period provision for expected credit losses(a)(b)(c)	84		16		28		20		20		12		4		4
Less: Write-offs(d), net of recoveries(e)	30		7		5		5		13		7		3		3
Balance at September 30, 2024	$	426	$	121	$	135	$	60	$	110	$	58	$	17	$	35

	Three Months Ended September 30, 2023
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at June 30, 2023	$	323	$	67	$	101	$	50	$	105	$	50	$	21	$	34
Plus: Current period provision for expected credit losses	72		24		13		9		26		11		6		9
Less: Write-offs, net of recoveries	54		15		19		7		13		5		4		4
Balance at September 30, 2023	$	341	$	76	$	95	$	52	$	118	$	56	$	23	$	39

	Nine Months Ended September 30, 2024
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at December 31, 2023	$	317	$	69	$	95	$	46	$	107	$	52	$	19	$	36
Plus: Current period provision for expected credit losses(c)(f)(g)	221		77		63		34		47		30		8		9
Less: Write-offs(d)(h)(i), net of recoveries(e)	112		25		23		20		44		24		10		10
Balance at September 30, 2024	$	426	$	121	$	135	$	60	$	110	$	58	$	17	$	35

	Nine Months Ended September 30, 2023
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at December 31, 2022	$	327	$	59	$	105	$	54	$	109	$	47	$	21	$	41
Plus: Current period provision for expected credit losses	144		45		32		23		44		24		10		10
Less: Write-offs, net of recoveries	130		28		42		25		35		15		8		12
Balance at September 30, 2023	$	341	$	76	$	95	$	52	$	118	$	56	$	23	$	39

_________

(a)For PECO, the increase is primarily a result of increased aging of receivables.

(b)For BGE and ACE, the change is primarily a result of changes in customer risk profile. For BGE, also reflects increased receivable balances.

(c)For DPL, the decrease is primarily a result of decreased receivable balances.

(d)For PECO, the decrease is primarily a result of decreased disconnection activities.

(e)Recoveries were not material to the Registrants.

(f)For PECO and ComEd, the increase is primarily a result of increased aging of receivables.

(g)For BGE and Pepco, the increase is primarily a result of changes in customer risk profile. For BGE, also reflects increased receivable balances.

(h)For BGE, the decrease is primarily a result of increased collection activities.

(i)For Pepco and DPL, the increase is primarily attributable to unfavorable customer payment behavior.

The following tables present the rollforward of Allowance for Credit Losses on Other Accounts Receivable.


	Three Months Ended September 30, 2024
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at June 30, 2024	$	108	$	29	$	20	$	5	$	54	$	34	$	7	$	13
Plus: Current period provision (benefit) for expected credit losses(a)	7		10		1		3		(7)		(8)		—		1
Less: Write-offs, net of recoveries(b)	4		—		1		2		1		—		—		1
Balance at September 30, 2024	$	111	$	39	$	20	$	6	$	46	$	26	$	7	$	13

	Three Months Ended September 30, 2023
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at June 30, 2023	$	87	$	18	$	8	$	8	$	53	$	31	$	9	$	13
Plus: Current period provision (benefit) for expected credit losses	6		3		2		3		(2)		(2)		—		—
Less: Write-offs, net of recoveries	5		1		2		2		—		—		—		—
Balance at September 30, 2023	$	88	$	20	$	8	$	9	$	51	$	29	$	9	$	13

	Nine Months Ended September 30, 2024
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at December 31, 2023	$	82	$	17	$	8	$	7	$	50	$	28	$	8	$	14
Plus: Current period provision (benefit) for expected credit losses(a)(c)	43		25		15		4		(1)		(2)		(1)		2
Less: Write-offs, net of recoveries(b)	14		3		3		5		3		—		—		3
Balance at September 30, 2024	$	111	$	39	$	20	$	6	$	46	$	26	$	7	$	13

	Nine Months Ended September 30, 2023
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Balance at December 31, 2022	$	82	$	17	$	9	$	10	$	46	$	25	$	7	$	14
Plus: Current period provision for expected credit losses	21		6		3		5		7		4		2		1
Less: Write-offs, net of recoveries	15		3		4		6		2		—		—		2
Balance at September 30, 2023	$	88	$	20	$	8	$	9	$	51	$	29	$	9	$	13

_________

(a)For Pepco, the decrease is primarily a result of decreased receivable balances.

(b)Recoveries were not material to the Registrants.

(c)For PECO and ComEd, the increase is primarily a result of increased aging of receivables.

Unbilled customer revenue

The following table provides additional information about unbilled customer revenues recorded in the Registrants' Consolidated Balance Sheets at September 30, 2024 and December 31, 2023.


	Unbilled customer revenues(a)
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
September 30, 2024	$	812	$	338	$	149	$	135	$	190	$	83	$	46	$	61
December 31, 2023	991		351		185		208		247		109		64		74

__________

(a)Unbilled customer revenues are classified in Customer accounts receivable, net in the Registrants' Consolidated Balance Sheets.

Purchases of accounts receivable


	Total receivables purchased
	Exelon		ComEd		PECO		BGE		PHI		Pepco		DPL		ACE
Nine months ended September 30, 2024	$	3,177	$	750	$	854	$	606	$	967	$	607	$	191	$	169
Nine months ended September 30, 2023	3,124		726		843		628		927		600		174		153

Retirement Benefits - Defined Contribution Savings Plans (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Savings Plan Employer Contributions	$ 25	$ 27	$ 76	$ 74
Commonwealth Edison Co
Defined Benefit Plan Disclosure [Line Items]
Savings Plan Employer Contributions	12	12	32	31
PECO Energy Co
Defined Benefit Plan Disclosure [Line Items]
Savings Plan Employer Contributions	3	3	11	10
Baltimore Gas and Electric Company
Defined Benefit Plan Disclosure [Line Items]
Savings Plan Employer Contributions	2	3	8	8
Pepco Holdings LLC
Defined Benefit Plan Disclosure [Line Items]
Savings Plan Employer Contributions	4	5	12	13
Potomac Electric Power Company
Defined Benefit Plan Disclosure [Line Items]
Savings Plan Employer Contributions	1	1	3	3
Delmarva Power and Light Company
Defined Benefit Plan Disclosure [Line Items]
Savings Plan Employer Contributions	1	1	3	3
Atlantic City Electric Company
Defined Benefit Plan Disclosure [Line Items]
Savings Plan Employer Contributions	$ 1	$ 1	$ 2	$ 2

Supplemental Financial Information - Balance Sheet (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	$ 616	$ 445	$ 300	$ 407
Restricted cash	552	482	435	566
Restricted cash included in other long-term assets	65	174	212	117
Total cash, restricted cash, and cash equivalents	1,233	1,101	947	1,090
Accrued Expenses [Abstract]
Compensation-related accruals	546	661
Taxes accrued	203	221
Interest accrued	431	414
Other	569	557
Commonwealth Edison Co
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	109	110	79	67
Restricted cash	481	402	360	327
Restricted cash included in other long-term assets	65	174	212	117
Total cash, restricted cash, and cash equivalents	655	686	651	511
Accrued Expenses [Abstract]
Compensation-related accruals	165	206
Taxes accrued	89	204
Interest accrued	92	148
PECO Energy Co
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	28	42	43	59
Restricted cash	9	9	9	9
Restricted cash included in other long-term assets	0	0	0	0
Total cash, restricted cash, and cash equivalents	37	51	52	68
Accrued Expenses [Abstract]
Compensation-related accruals	68	87
Taxes accrued	19	96
Interest accrued	55	49
Baltimore Gas and Electric Company
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	330	47	15	43
Restricted cash	0	1	1	24
Restricted cash included in other long-term assets	0	0	0	0
Total cash, restricted cash, and cash equivalents	330	48	16	67
Accrued Expenses [Abstract]
Compensation-related accruals	70	81
Taxes accrued	28	75
Interest accrued	74	44
Other	48	9
Pepco Holdings LLC
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	100	180	121	198
Restricted cash	22	24	25	175
Restricted cash included in other long-term assets	0	0	0	0
Total cash, restricted cash, and cash equivalents	122	204	146	373
Accrued Expenses [Abstract]
Compensation-related accruals	100	107
Taxes accrued	101	137
Interest accrued	85	72
Potomac Electric Power Company
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	20	48	31	45
Restricted cash	20	24	25	54
Restricted cash included in other long-term assets	0	0	0	0
Total cash, restricted cash, and cash equivalents	40	72	56	99
Accrued Expenses [Abstract]
Compensation-related accruals	28	27
Taxes accrued	89	116
Interest accrued	38	38
Delmarva Power and Light Company
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	8	16	5	31
Restricted cash	2	0	1	121
Restricted cash included in other long-term assets	0	0	0	0
Total cash, restricted cash, and cash equivalents	10	16	6	152
Accrued Expenses [Abstract]
Compensation-related accruals	19	17
Taxes accrued	15	30
Interest accrued	27	13
Atlantic City Electric Company
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and cash equivalents	17	21	14	72
Restricted cash	0	0	0	0
Restricted cash included in other long-term assets	0	0	0	0
Total cash, restricted cash, and cash equivalents	17	21	$ 14	$ 72
Accrued Expenses [Abstract]
Compensation-related accruals	12	12
Taxes accrued	5	10
Interest accrued	$ 18	$ 15

Regulatory Matters - Annual Electric Transmission Fillings (Details) - USD ($) $ in Millions	May 30, 2024	May 10, 2024	Apr. 24, 2024
Commonwealth Edison Co \| 2024 Transmission Formula Rate Annual Update
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount			$ 32
Annual Reconciliation Increase			(12)
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount			$ 20
Public Utilities, Approved Equity Capital Structure, Percentage			8.14%
Public Utilities, Approved Return on Equity, Percentage			11.50%
Basis points for Transmission Formula Rate			50
PECO Energy Co \| 2024 Transmission Formula Rate Annual Update
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount	$ 2
Annual Reconciliation Increase	3
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount	$ 5
Public Utilities, Approved Equity Capital Structure, Percentage	7.45%
Public Utilities, Approved Return on Equity, Percentage	10.35%
Cap on Equity Component of Rate of Return on Common Equity in Federal Energy Regulatory Committee Complaint	55.75%
Basis points for Transmission Formula Rate	50
Baltimore Gas and Electric Company \| 2024 Transmission Formula Rate Annual Update
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount			$ 42
Annual Reconciliation Increase			13
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount			$ 53
Public Utilities, Approved Equity Capital Structure, Percentage			7.47%
Public Utilities, Approved Return on Equity, Percentage			10.50%
Basis points for Transmission Formula Rate			50
Baltimore Gas and Electric Company \| 2024 Transmission Formula Rate Revenue Reduction
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount			$ 2
Potomac Electric Power Company \| 2024 Transmission Formula Rate Annual Update
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		$ 58
Annual Reconciliation Increase		15
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount		$ 73
Public Utilities, Approved Equity Capital Structure, Percentage		7.62%
Public Utilities, Approved Return on Equity, Percentage		10.50%
Basis points for Transmission Formula Rate		50
Delmarva Power and Light Company \| 2024 Transmission Formula Rate Annual Update
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		$ 7
Annual Reconciliation Increase		17
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount		$ 24
Public Utilities, Approved Equity Capital Structure, Percentage		7.23%
Public Utilities, Approved Return on Equity, Percentage		10.50%
Basis points for Transmission Formula Rate		50
Atlantic City Electric Company \| 2024 Transmission Formula Rate Annual Update
Public Utilities, General Disclosures [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amount		$ 14
Annual Reconciliation Increase		18
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount		$ 32
Public Utilities, Approved Equity Capital Structure, Percentage		7.11%
Public Utilities, Approved Return on Equity, Percentage		10.50%
Basis points for Transmission Formula Rate		50

Changes in Accumulated Other Comprehensive Income (Tables)

9 Months Ended

Sep. 30, 2024

Changes in Accumulated Other Comprehensive Income [Abstract]

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)

The following table presents changes in Exelon's AOCI, net of tax, by component:


Three Months Ended September 30, 2024	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items(a)		Total
Balance at June 30, 2024	$	27	$	(739)	$	(712)
OCI before reclassifications	(28)		—		(28)
Amounts reclassified from AOCI	(1)		5		4
Net current-period OCI	(29)		5		(24)
Balance at September 30, 2024	$	(2)	$	(734)	$	(736)


Three Months Ended September 30, 2023	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items(a)		Total
Balance at June 30, 2023	$	17	$	(647)	$	(630)
OCI before reclassifications	22		(3)		19
Amounts reclassified from AOCI	(1)		16		15
Net current-period OCI	21		13		34
Balance at September 30, 2023	$	38	$	(634)	$	(596)


Nine Months Ended September 30, 2024	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items(a)		Total
Balance at December 31, 2023	$	(3)	$	(723)	$	(726)
OCI before reclassifications	4		(26)		(22)
Amounts reclassified from AOCI	(3)		15		12
Net current-period OCI	1		(11)		(10)
Balance at September 30, 2024	$	(2)	$	(734)	$	(736)


Nine Months Ended September 30, 2023	Cash Flow Hedges		Pension and Non-Pension Postretirement Benefit Plan Items(a)		Total
Balance at December 31, 2022	$	2	$	(640)	$	(638)

OCI before reclassifications	37		(16)		21
Amounts reclassified from AOCI	(1)		22		21
Net current-period OCI	$	36	$	6	$	42
Balance at September 30, 2023	$	38	$	(634)	$	(596)

__________

Schedule of Income Taxes Allocated to Other Comprehensive Income (Loss) Components

The following table presents Income tax benefit (expense) allocated to each component of Exelon's Other comprehensive income (loss):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Pension and non-pension postretirement benefit plans:

Actuarial losses reclassified to periodic benefit cost	$	(2)	$	(5)	$	(6)	$	(7)
Pension and non-pension postretirement benefit plans valuation adjustments	—		1		8		5
Unrealized gains on cash flow hedges	10		(7)		—		(11)

Income Taxes - Narrative (Details) - USD ($) $ in Millions	Aug. 16, 2022	Sep. 30, 2024
Income Tax Additional Narrative Information [Line Items]
Notes payable, current		$ 130
Notes payable, noncurrent		201
Tax credit carryforward, valuation allowance		0
Commonwealth Edison Co
Income Tax Additional Narrative Information [Line Items]
Tax credit carryforward, valuation allowance		0
PECO Energy Co
Income Tax Additional Narrative Information [Line Items]
Tax credit carryforward, valuation allowance		0
Baltimore Gas and Electric Company
Income Tax Additional Narrative Information [Line Items]
Tax credit carryforward, valuation allowance		0
Pepco Holdings LLC
Income Tax Additional Narrative Information [Line Items]
Tax credit carryforward, valuation allowance		0
Potomac Electric Power Company
Income Tax Additional Narrative Information [Line Items]
Tax credit carryforward, valuation allowance		0
Delmarva Power and Light Company
Income Tax Additional Narrative Information [Line Items]
Tax credit carryforward, valuation allowance		0
Atlantic City Electric Company
Income Tax Additional Narrative Information [Line Items]
Tax credit carryforward, valuation allowance		$ 0
US Treasury (UST) Interest Rate
Income Tax Additional Narrative Information [Line Items]
Excess deferred tax amortization	15.00%

Accounts Receivable - Unbilled Customer Revenue (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenue	$ 812	$ 991
Commonwealth Edison Co
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenue	338	351
PECO Energy Co
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenue	149	185
Baltimore Gas and Electric Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenue	135	208
Pepco Holdings LLC
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenue	190	247
Potomac Electric Power Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenue	83	109
Delmarva Power and Light Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenue	46	64
Atlantic City Electric Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unbilled customer revenue	$ 61	$ 74

Segment Information - Reconciliation to Consolidated Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total operating revenues	$ 6,154			$ 5,980			$ 17,557	$ 16,360
Income taxes	50			67			158	274
Net income (loss):	707	$ 448	$ 658	700	$ 343	$ 669	1,813	1,711
Total assets	106,070						106,070		$ 101,546
Pepco Holdings LLC
Segment Reporting Information [Line Items]
Total operating revenues	1,862			1,773			4,938	4,615
Income taxes	72			49			158	103
Net income (loss):	278	$ 158	$ 168	232	$ 103	$ 155	603	490
Total assets	27,672						27,672		26,903
Related Party
Segment Reporting Information [Line Items]
Interest expense, net	6			6			18	18
Related Party \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Operating revenues from affiliates	3			2			7	7
Operating Segment
Segment Reporting Information [Line Items]
Total operating revenues	6,154			5,980			17,557	16,360
Depreciation and amortization	908			890			2,681	2,616
Operating expenses	4,961			4,857			14,348	13,429
Interest expense, net	496			437			1,446	1,277
Income taxes	50			67			158	274
Net income (loss):	707			700			1,813	1,711
Capital expenditures	1,695			1,855			5,161	5,540
Total assets	106,070						106,070		101,546
Operating Segment \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	0			0			0	0
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total operating revenues	(452)			(475)			(1,396)	(1,370)
Depreciation and amortization	0			0			0	0
Operating expenses	(465)			(478)			(1,425)	(1,367)
Interest expense, net	0			0			(2)	(4)
Income taxes	0			0			0	1
Net income (loss):	0			(15)			0	(22)
Capital expenditures	0			0			0	0
Total assets	(3,910)						(3,910)		(4,337)
Intersegment Eliminations \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Total operating revenues	(104)			(104)			(333)	(314)
Depreciation and amortization	0			0			0	0
Operating expenses	(104)			(103)			(333)	(314)
Interest expense, net	(1)			(1)			(1)	2
Income taxes	0			0			0	0
Net income (loss):	0			0			0	0
Capital expenditures	0			0			0	0
Total assets	(36)						(36)		(41)
Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	(450)			(458)			(1,389)	(1,343)
Intersegment Eliminations \| Related Party \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Operating revenues from affiliates	(105)			(104)			(333)	(313)
Commonwealth Edison Co \| Operating Segment
Segment Reporting Information [Line Items]
Total operating revenues	2,229			2,268			6,403	5,836
Depreciation and amortization	387			357			1,124	1,045
Operating expenses	1,731			1,738			5,192	4,472
Interest expense, net	128			119			374	357
Income taxes	36			94			85	235
Net income (loss):	360			333			823	822
Capital expenditures	508			664			1,619	1,926
Total assets	44,718						44,718		42,827
Commonwealth Edison Co \| Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	2			9			6	14
PECO Energy Co \| Operating Segment
Segment Reporting Information [Line Items]
Total operating revenues	1,030			1,037			2,975	2,977
Depreciation and amortization	108			100			318	297
Operating expenses	868			847			2,471	2,436
Interest expense, net	58			52			170	149
Income taxes	(4)			3			9	8
Net income (loss):	117			146			356	410
Capital expenditures	382			361			1,125	1,068
Total assets	16,748						16,748		15,595
PECO Energy Co \| Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	4			2			7	6
Baltimore Gas and Electric Company \| Operating Segment
Segment Reporting Information [Line Items]
Total operating revenues	1,044			932			3,268	2,986
Depreciation and amortization	162			161			474	487
Operating expenses	949			835			2,751	2,503
Interest expense, net	57			47			159	135
Income taxes	4			11			32	76
Net income (loss):	45			45			353	286
Capital expenditures	365			330			1,033	986
Total assets	15,038						15,038		14,184
Baltimore Gas and Electric Company \| Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	3			2			7	6
Pepco Holdings LLC \| Operating Segment
Segment Reporting Information [Line Items]
Total operating revenues	1,862			1,773			4,938	4,615
Depreciation and amortization	235			257			716	741
Operating expenses	1,439			1,440			3,977	3,864
Interest expense, net	95			80			279	238
Income taxes	72			49			158	103
Net income (loss):	278			232			603	490
Capital expenditures	440			488			1,343	1,510
Total assets	27,672						27,672		26,903
Pepco Holdings LLC \| Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	3			2			7	7
Potomac Electric Power Company \| Operating Segment
Segment Reporting Information [Line Items]
Total operating revenues	861			822			2,320	2,174
Depreciation and amortization	102			112			307	329
Operating expenses	650			658			1,824	1,810
Interest expense, net	50			41			142	122
Income taxes	32			21			74	43
Net income (loss):	140			120			323	249
Capital expenditures	218			227			672	710
Total assets	11,602						11,602		11,194
Potomac Electric Power Company \| Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	2			1			5	5
Delmarva Power and Light Company \| Operating Segment
Segment Reporting Information [Line Items]
Total operating revenues	462			450			1,343	1,273
Depreciation and amortization	62			62			183	182
Operating expenses	377			386			1,099	1,079
Interest expense, net	22			18			69	53
Income taxes	14			8			39	25
Net income (loss):	55			43			156	128
Capital expenditures	136			158			404	416
Total assets	6,204						6,204		5,966
Delmarva Power and Light Company \| Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	2			2			5	5
Atlantic City Electric Company \| Operating Segment
Segment Reporting Information [Line Items]
Total operating revenues	540			502			1,280	1,172
Depreciation and amortization	67			77			214	212
Operating expenses	410			394			1,052	971
Interest expense, net	21			19			59	52
Income taxes	30			23			48	40
Net income (loss):	83			71			133	122
Capital expenditures	85			101			265	376
Total assets	5,329						5,329		5,157
Atlantic City Electric Company \| Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	1			0			2	1
Corporate and Other \| Corporate, Non-Segment
Segment Reporting Information [Line Items]
Total operating revenues	441			445			1,369	1,316
Depreciation and amortization	16			15			49	46
Operating expenses	439			475			1,382	1,521
Interest expense, net	158			139			466	402
Income taxes	(58)			(90)			(126)	(149)
Net income (loss):	(93)			(41)			(322)	(275)
Capital expenditures	0			12			41	50
Total assets	5,804						5,804		6,374
Corporate and Other \| Corporate, Non-Segment \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Total operating revenues	103			103			328	310
Depreciation and amortization	4			6			12	18
Operating expenses	106			105			335	318
Interest expense, net	3			3			10	9
Income taxes	(4)			(3)			(3)	(5)
Net income (loss):	0			(2)			(9)	(9)
Capital expenditures	1			2			2	8
Total assets	4,573						4,573		$ 4,627
Corporate and Other \| Intersegment Eliminations \| Related Party
Segment Reporting Information [Line Items]
Operating revenues from affiliates	438			443			1,362	1,310
Corporate and Other \| Intersegment Eliminations \| Related Party \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Operating revenues from affiliates	103			103			328	309
Rate-regulated electric revenues
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	6,012			5,684			16,379	14,579
Rate-regulated electric revenues \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	1,828			1,762			4,769	4,399
Rate-regulated electric revenues \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	5,944			5,793			16,320	15,056
Rate-regulated electric revenues \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	(6)			(28)			(17)	(45)
Rate-regulated electric revenues \| Intersegment Eliminations \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	(4)			(3)			(12)	(11)
Rate-regulated electric revenues \| Commonwealth Edison Co \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	2,229			2,268			6,403	5,836
Rate-regulated electric revenues \| PECO Energy Co \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	960			970			2,537	2,484
Rate-regulated electric revenues \| Baltimore Gas and Electric Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	925			836			2,588	2,322
Rate-regulated electric revenues \| Pepco Holdings LLC \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	1,836			1,747			4,809	4,459
Rate-regulated electric revenues \| Potomac Electric Power Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	861			822			2,320	2,174
Rate-regulated electric revenues \| Delmarva Power and Light Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	439			426			1,221	1,123
Rate-regulated electric revenues \| Atlantic City Electric Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	540			502			1,280	1,172
Rate-regulated electric revenues \| Corporate and Other \| Corporate, Non-Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Rate-regulated electric revenues \| Corporate and Other \| Corporate, Non-Segment \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	1
Rate-regulated natural gas revenues
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	196			188			1,207	1,268
Rate-regulated natural gas revenues \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	23			24			122	150
Rate-regulated natural gas revenues \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	210			187			1,237	1,304
Rate-regulated natural gas revenues \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	(2)			0			(3)	(3)
Rate-regulated natural gas revenues \| Intersegment Eliminations \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Rate-regulated natural gas revenues \| Commonwealth Edison Co \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Rate-regulated natural gas revenues \| PECO Energy Co \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	70			67			438	493
Rate-regulated natural gas revenues \| Baltimore Gas and Electric Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	119			96			680	664
Rate-regulated natural gas revenues \| Pepco Holdings LLC \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	23			24			122	150
Rate-regulated natural gas revenues \| Potomac Electric Power Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Rate-regulated natural gas revenues \| Delmarva Power and Light Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	23			24			122	150
Rate-regulated natural gas revenues \| Atlantic City Electric Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Rate-regulated natural gas revenues \| Corporate and Other \| Corporate, Non-Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Rate-regulated natural gas revenues \| Corporate and Other \| Corporate, Non-Segment \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Shared service and other revenues \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Shared service and other revenues \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	(444)			(447)			(1,376)	(1,322)
Shared service and other revenues \| Intersegment Eliminations \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	(100)			(101)			(321)	(303)
Shared service and other revenues \| Commonwealth Edison Co \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Shared service and other revenues \| PECO Energy Co \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Shared service and other revenues \| Baltimore Gas and Electric Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Shared service and other revenues \| Pepco Holdings LLC \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	3			2			7	6
Shared service and other revenues \| Potomac Electric Power Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Shared service and other revenues \| Delmarva Power and Light Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Shared service and other revenues \| Atlantic City Electric Company \| Operating Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	0			0			0	0
Shared service and other revenues \| Corporate and Other \| Corporate, Non-Segment
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	441			445			1,369	1,316
Shared service and other revenues \| Corporate and Other \| Corporate, Non-Segment \| Pepco Holdings LLC
Segment Reporting Information [Line Items]
Electric and natural gas operating revenues	$ 103			$ 103			$ 328	$ 309

Balance Sheets - BGE (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accumulated depreciation and amortization	$ 18,227	$ 17,251
Baltimore Gas and Electric Company
Accumulated depreciation and amortization	$ 4,933	$ 4,744

Regulatory Matters - Capitalized Ratemaking Amount Not Recognized (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Public Utility, Property, Plant and Equipment [Line Items]
Public Utilities, Amount of Allowance for Earnings on Equity Capitalized for Rate Making Purposes	$ 126	$ 110
Commonwealth Edison Co
Public Utility, Property, Plant and Equipment [Line Items]
Public Utilities, Amount of Allowance for Earnings on Equity Capitalized for Rate Making Purposes	43	32
PECO Energy Co
Public Utility, Property, Plant and Equipment [Line Items]
Public Utilities, Amount of Allowance for Earnings on Equity Capitalized for Rate Making Purposes	0	0
Baltimore Gas and Electric Company
Public Utility, Property, Plant and Equipment [Line Items]
Public Utilities, Amount of Allowance for Earnings on Equity Capitalized for Rate Making Purposes	22	33
Pepco Holdings LLC
Public Utility, Property, Plant and Equipment [Line Items]
Public Utilities, Amount of Allowance for Earnings on Equity Capitalized for Rate Making Purposes	61	45
Potomac Electric Power Company
Public Utility, Property, Plant and Equipment [Line Items]
Public Utilities, Amount of Allowance for Earnings on Equity Capitalized for Rate Making Purposes	47	34
Delmarva Power and Light Company
Public Utility, Property, Plant and Equipment [Line Items]
Public Utilities, Amount of Allowance for Earnings on Equity Capitalized for Rate Making Purposes	1	1
Atlantic City Electric Company
Public Utility, Property, Plant and Equipment [Line Items]
Public Utilities, Amount of Allowance for Earnings on Equity Capitalized for Rate Making Purposes	$ 13	$ 10

Consolidated Balance Sheets - Exelon (Parentheticals) - USD ($) shares in Millions, $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Accumulated depreciation and amortization	$ 18,227	$ 17,251
Common stock (in dollars)	$ 0	$ 0
Common stock, shares authorized (in shares)	2,000	2,000
Common stock, shares outstanding (in shares)	1,005	999
Treasury stock, common (in shares)	2	2

Balance Sheets (Unaudited) - Pepco (Parentheticals) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Accumulated depreciation and amortization	$ 18,227	$ 17,251
Potomac Electric Power Company
Accumulated depreciation and amortization	$ 4,457	$ 4,284

Statements of Operations and Comprehensive Income (Unaudited) - BGE - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating revenues
Revenues from alternative revenue programs	$ (54)	$ 108	$ (29)	$ 513
Total operating revenues	6,154	5,980	17,557	16,360
Operating expenses
Operating and maintenance	1,275	1,187	3,756	3,535
Depreciation and amortization	908	890	2,681	2,616
Taxes other than income taxes	395	383	1,127	1,063
Total operating expenses	4,961	4,857	14,348	13,429
Operating income	1,196	1,123	3,221	2,931
Other income and (deductions)
Interest expense, net	(490)	(431)	(1,428)	(1,259)
Other, net	57	81	196	331
Total other income and (deductions)	(439)	(356)	(1,250)	(946)
Income before income taxes	757	767	1,971	1,985
Income taxes	50	67	158	274
Net income	707	700	1,813	1,711
Baltimore Gas and Electric Company
Operating revenues
Revenues from alternative revenue programs	9	(22)	28	47
Total operating revenues	1,044	932	3,268	2,986
Operating expenses
Operating and maintenance	221	156	613	467
Depreciation and amortization	162	161	474	487
Taxes other than income taxes	86	80	254	239
Total operating expenses	949	835	2,751	2,503
Operating income	95	97	517	483
Other income and (deductions)
Interest expense, net	(57)	(47)	(159)	(135)
Other, net	11	6	27	14
Total other income and (deductions)	(46)	(41)	(132)	(121)
Income before income taxes	49	56	385	362
Income taxes	4	11	32	76
Net income	45	45	353	286
Comprehensive income	45	45	353	286
Baltimore Gas and Electric Company \| Related Party
Operating revenues
Operating revenues from affiliates	3	2	7	6
Operating expenses
Operating and maintenance from affiliates	60	58	182	165
Electricity, US Regulated
Operating revenues
Electric operating revenues	6,012	5,684	16,379	14,579
Operating expenses
Purchased power and/or fuel	2,349	2,364	6,483	5,766
Electricity, US Regulated \| Baltimore Gas and Electric Company
Operating revenues
Electric operating revenues	928	856	2,585	2,306
Operating expenses
Purchased power and/or fuel	407	371	1,108	975
Natural Gas, US Regulated
Operating revenues
Electric operating revenues	196	188	1,207	1,268
Operating expenses
Purchased power and/or fuel	34	33	301	449
Natural Gas, US Regulated \| Baltimore Gas and Electric Company
Operating revenues
Electric operating revenues	104	96	648	627
Operating expenses
Purchased power and/or fuel	$ 13	$ 9	$ 120	$ 170

Consolidated Statements of Cash Flows (Unaudited) - Exelon - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,813	$ 1,711
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	2,683	2,616
Gain on sales of assets and businesses	(12)	0
Deferred income taxes and amortization of investment tax credits	102	210
Net fair value changes related to derivatives	1	21
Other non-cash operating activities	441	(237)
Changes in assets and liabilities:
Accounts receivable	(489)	82
Inventories	(57)	(8)
Accounts payable and accrued expenses	(309)	(454)
Collateral received (paid), net	21	(183)
Income taxes	(18)	50
Regulatory assets and liabilities, net	194	(395)
Pension and non-pension postretirement benefit contributions	(140)	(97)
Other assets and liabilities	(87)	(24)
Net cash flows provided by operating activities	4,143	3,292
Cash flows from investing activities
Capital expenditures	(5,161)	(5,540)
Proceeds from sales of assets and businesses	38	0
Other investing activities	9	25
Net cash flows used in investing activities	(5,114)	(5,515)
Cash flows from financing activities
Changes in short-term borrowings	(1,093)	(1,116)
Proceeds from short-term borrowings with maturities greater than 90 days	150	400
Repayments on short-term borrowings with maturities greater than 90 days	(549)	(150)
Issuance of long-term debt	4,975	5,300
Retirement of long-term debt	(1,336)	(1,209)
Issuance of common stock	148	0
Dividends paid on common stock	(1,142)	(1,074)
Proceeds from employee stock plans	33	30
Other financing activities	(83)	(101)
Net cash flows provided by financing activities	1,103	2,080
Increase (decrease) in cash, restricted cash, and cash equivalents	132	(143)
Cash, restricted cash, and cash equivalents at beginning of period	1,101	1,090
Cash, restricted cash, and cash equivalents at end of period	1,233	947
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	6	(169)
Increase (decrease) in PP&E related to ARO update	$ 16	$ (4)

Consolidated Statements of Cash Flows (Unaudited) - ACE - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,813	$ 1,711
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	2,683	2,616
Deferred income taxes and amortization of investment tax credits	102	210
Other non-cash operating activities	441	(237)
Changes in assets and liabilities:
Accounts receivable	(489)	82
Inventories	(57)	(8)
Accounts payable and accrued expenses	(309)	(454)
Collateral received (paid), net	21	(183)
Income taxes	(18)	50
Regulatory assets and liabilities, net	194	(395)
Pension and non-pension postretirement benefit contributions	(140)	(97)
Other assets and liabilities	(87)	(24)
Net cash flows provided by operating activities	4,143	3,292
Cash flows from investing activities
Capital expenditures	(5,161)	(5,540)
Net cash flows used in investing activities	(5,114)	(5,515)
Cash flows from financing activities
Changes in short-term borrowings	(1,093)	(1,116)
Issuance of long-term debt	4,975	5,300
Repayments of Long-Term Debt	(1,336)	(1,209)
Dividends paid on common stock	(1,142)	(1,074)
Other financing activities	(83)	(101)
Net cash flows provided by financing activities	1,103	2,080
Decrease in cash, restricted cash, and cash equivalents	132	(143)
Cash, restricted cash, and cash equivalents at beginning of period	1,101	1,090
Cash, restricted cash, and cash equivalents at end of period	1,233	947
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	6	(169)
Atlantic City Electric Company
Cash flows from operating activities
Net income	133	122
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	214	212
Deferred income taxes and amortization of investment tax credits	33	24
Other non-cash operating activities	49	(2)
Changes in assets and liabilities:
Accounts receivable	(77)	(85)
Receivables from and payables to affiliates, net	(8)	(6)
Inventories	(5)	(11)
Accounts payable and accrued expenses	(18)	(4)
Collateral received (paid), net	0	(45)
Income taxes	(2)	6
Regulatory assets and liabilities, net	(62)	(28)
Pension and non-pension postretirement benefit contributions	(7)	(1)
Other assets and liabilities	(39)	(80)
Net cash flows provided by operating activities	211	102
Cash flows from investing activities
Capital expenditures	(265)	(376)
Net cash flows used in investing activities	(265)	(376)
Cash flows from financing activities
Changes in short-term borrowings	(30)	173
Issuance of long-term debt	250	75
Repayments of Long-Term Debt	(150)	0
Changes in PHI intercompany money pool	0	17
Dividends paid on common stock	(100)	(111)
Contributions from parent	85	65
Other financing activities	(5)	(3)
Net cash flows provided by financing activities	50	216
Decrease in cash, restricted cash, and cash equivalents	(4)	(58)
Cash, restricted cash, and cash equivalents at beginning of period	21	72
Cash, restricted cash, and cash equivalents at end of period	17	14
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	$ (10)	$ (56)

Consolidated Statements of Cash Flows (Unaudited) - ComEd - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities
Net income	$ 1,813	$ 1,711
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	2,683	2,616
Gain on sales of assets and businesses	(12)	0
Deferred income taxes and amortization of investment tax credits	102	210
Net fair value changes related to derivatives	1	21
Other non-cash operating activities	441	(237)
Changes in assets and liabilities:
Accounts receivable	(489)	82
Inventories	(57)	(8)
Accounts payable and accrued expenses	(309)	(454)
Collateral received (paid), net	21	(183)
Income taxes	(18)	50
Regulatory assets and liabilities, net	194	(395)
Pension and non-pension postretirement benefit contributions	(140)	(97)
Other assets and liabilities	(87)	(24)
Net cash flows provided by operating activities	4,143	3,292
Cash flows from investing activities
Capital expenditures	(5,161)	(5,540)
Other investing activities	9	25
Net cash flows used in investing activities	(5,114)	(5,515)
Cash flows from financing activities
Changes in short-term borrowings	(1,093)	(1,116)
Proceeds from short-term borrowings with maturities greater than 90 days	150	400
Repayments on short-term borrowings with maturities greater than 90 days	(549)	(150)
Issuance of long-term debt	4,975	5,300
Retirement of long-term debt	(1,336)	(1,209)
Dividends paid on common stock	(1,142)	(1,074)
Other financing activities	(83)	(101)
Net cash flows provided by financing activities	1,103	2,080
Increase (decrease) in cash, restricted cash, and cash equivalents	132	(143)
Cash, restricted cash, and cash equivalents at beginning of period	1,101	1,090
Cash, restricted cash, and cash equivalents at end of period	1,233	947
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	6	(169)
Commonwealth Edison Co
Cash flows from operating activities
Net income	823	822
Adjustments to reconcile net income to net cash flows provided by operating activities:
Depreciation, amortization, and accretion	1,124	1,045
Gain (Loss) on Disposition of Property Plant Equipment	(5)	0
Deferred income taxes and amortization of investment tax credits	(16)	164
Other non-cash operating activities	161	(392)
Changes in assets and liabilities:
Accounts receivable	(327)	(111)
Receivables from and payables to affiliates, net	43	(12)
Inventories	(17)	(64)
Accounts payable and accrued expenses	(207)	(199)
Collateral received (paid), net	21	28
Income taxes	(109)	50
Regulatory assets and liabilities, net	422	(248)
Pension and non-pension postretirement benefit contributions	(11)	(26)
Other assets and liabilities	134	(72)
Net cash flows provided by operating activities	2,036	985
Cash flows from investing activities
Capital expenditures	(1,619)	(1,926)
Other investing activities	8	8
Net cash flows used in investing activities	(1,611)	(1,918)
Cash flows from financing activities
Changes in short-term borrowings	(129)	(150)
Proceeds from short-term borrowings with maturities greater than 90 days	0	400
Repayments on short-term borrowings with maturities greater than 90 days	(400)	(150)
Issuance of long-term debt	800	975
Retirement of long-term debt	(250)	0
Dividends paid on common stock	(582)	(560)
Contributions from parent	117	570
Other financing activities	(12)	(12)
Net cash flows provided by financing activities	(456)	1,073
Increase (decrease) in cash, restricted cash, and cash equivalents	(31)	140
Cash, restricted cash, and cash equivalents at beginning of period	686	511
Cash, restricted cash, and cash equivalents at end of period	655	651
Supplemental cash flow information
Increase (decrease) in capital expenditures not paid	$ (31)	$ (27)

Retirement Benefits - Narrative (Details) $ in Millions	9 Months Ended
Retirement Benefits - Narrative (Details) $ in Millions	Sep. 30, 2024 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Increase (Decrease) in Obligation, Pension Benefits	$ 98
Increase (Decrease) in Obligation, Other Postretirement Benefits	1
Accumulated Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), after Tax	25
Defined Benefit Plan Amounts Recognized In Regulatory Assets Before Tax	66
Defined Benefit Plan Amounts Recognized In Regulatory Liabilities Before Tax	$ 2
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected return on assets	7.00%
Discount rate	5.19%
Other Postretirement Benefit Plan, Defined Benefit [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected return on assets	6.50%
Discount rate	5.17%

Fair Value of Financial Assets and Liabilities - Fair Value of Financial Liabilities Recorded at Amortized Cost (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	$ 44,655	$ 41,095
Reported Value Measurement [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	390	390
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	41,579	37,246
Estimate of Fair Value Measurement [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	409	390
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	0	0
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	37,642	33,804
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	0	0
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	3,937	3,442
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	409	390
Long-term debt to financing trusts	390	390
Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	390	390
Commonwealth Edison Co \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	12,028	11,486
Commonwealth Edison Co \| Reported Value Measurement [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	206	205
Commonwealth Edison Co \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	10,957	10,210
Commonwealth Edison Co \| Estimate of Fair Value Measurement [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	215	208
Commonwealth Edison Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Commonwealth Edison Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	0	0
Commonwealth Edison Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	10,957	10,210
Commonwealth Edison Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	0	0
Commonwealth Edison Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Commonwealth Edison Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	215	208
Commonwealth Edison Co \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	206	205
PECO Energy Co \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	5,703	5,134
PECO Energy Co \| Reported Value Measurement [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	184	184
PECO Energy Co \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	5,156	4,562
PECO Energy Co \| Estimate of Fair Value Measurement [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	194	182
PECO Energy Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
PECO Energy Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	0	0
PECO Energy Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	5,156	4,562
PECO Energy Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	0	0
PECO Energy Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
PECO Energy Co \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member] \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	194	182
PECO Energy Co \| Related Party
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt to financing trusts	184	184
Baltimore Gas and Electric Company \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	5,395	4,602
Baltimore Gas and Electric Company \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	5,021	4,145
Baltimore Gas and Electric Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Baltimore Gas and Electric Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	5,021	4,145
Baltimore Gas and Electric Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Pepco Holdings LLC \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	9,135	8,648
Pepco Holdings LLC \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	8,270	7,602
Pepco Holdings LLC \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Pepco Holdings LLC \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	4,333	4,160
Pepco Holdings LLC \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	3,937	3,442
Potomac Electric Power Company \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	4,362	4,096
Potomac Electric Power Company \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	4,272	3,911
Potomac Electric Power Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Potomac Electric Power Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	2,638	2,311
Potomac Electric Power Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	1,634	1,600
Delmarva Power and Light Company \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	2,221	2,080
Delmarva Power and Light Company \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	1,996	1,828
Delmarva Power and Light Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Delmarva Power and Light Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	667	694
Delmarva Power and Light Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	1,329	1,134
Atlantic City Electric Company \| Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	1,935	1,833
Atlantic City Electric Company \| Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	1,783	1,647
Atlantic City Electric Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	0	0
Atlantic City Electric Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	809	939
Atlantic City Electric Company \| Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt (including amounts due within one year)	$ 974	$ 708

Revenue from Contracts with Customers - Narrative (Details)	Sep. 30, 2024	Dec. 31, 2023	Jul. 01, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Pepco Holdings LLC \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Pepco Holdings LLC \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Pepco Holdings LLC \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Pepco Holdings LLC \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Pepco Holdings LLC \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Potomac Electric Power Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period			35 years
Potomac Electric Power Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		31 years
Potomac Electric Power Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Potomac Electric Power Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Potomac Electric Power Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Potomac Electric Power Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Potomac Electric Power Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Delmarva Power and Light Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period			35 years
Delmarva Power and Light Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		31 years
Delmarva Power and Light Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Delmarva Power and Light Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Delmarva Power and Light Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Delmarva Power and Light Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Delmarva Power and Light Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Atlantic City Electric Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-07-01 \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period			35 years
Atlantic City Electric Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 \| Collaborative Arrangement, Transaction with Party to Collaborative Arrangement
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period		31 years
Atlantic City Electric Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Atlantic City Electric Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Atlantic City Electric Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Atlantic City Electric Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Atlantic City Electric Company \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Related Party Transactions - Current Receivables From/Payables To Affiliates (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Related Party
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	$ 296	$ 251
Accounts payable	5	5
Commonwealth Edison Co \| Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable	116	72
Commonwealth Edison Co \| PECO Energy Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Commonwealth Edison Co \| Baltimore Gas And Electric Company Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	1	0
Commonwealth Edison Co \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Commonwealth Edison Co \| Potomac Electric Power Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Commonwealth Edison Co \| Delmarva Power and Light Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Commonwealth Edison Co \| Atlantic City Electric Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Commonwealth Edison Co \| Other Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	3	3
Commonwealth Edison Co \| Related Party
Related Party Transaction [Line Items]
Accounts payable	116	72
Receivables from affiliates	4	3
PECO Energy Co \| Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable	36	39
PECO Energy Co \| Commonwealth Edison Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	1	0
PECO Energy Co \| Baltimore Gas And Electric Company Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
PECO Energy Co \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
PECO Energy Co \| Potomac Electric Power Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
PECO Energy Co \| Delmarva Power and Light Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	1
PECO Energy Co \| Atlantic City Electric Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	1
PECO Energy Co \| Other Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
PECO Energy Co \| Related Party
Related Party Transaction [Line Items]
Accounts payable	36	39
Receivables from affiliates	1	2
Baltimore Gas and Electric Company \| Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable	48	35
Baltimore Gas and Electric Company \| Commonwealth Edison Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Baltimore Gas and Electric Company \| PECO Energy Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Baltimore Gas and Electric Company \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Baltimore Gas and Electric Company \| Potomac Electric Power Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Baltimore Gas and Electric Company \| Delmarva Power and Light Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Baltimore Gas and Electric Company \| Atlantic City Electric Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Baltimore Gas and Electric Company \| Other Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Baltimore Gas and Electric Company \| Related Party
Related Party Transaction [Line Items]
Accounts payable	48	35
Receivables from affiliates	0	0
Pepco Holdings LLC \| Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable	17	15
Pepco Holdings LLC \| Related Party
Related Party Transaction [Line Items]
Accounts payable	54	59
Receivables from affiliates	6	3
Potomac Electric Power Company \| Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable	31	32
Potomac Electric Power Company \| Commonwealth Edison Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Potomac Electric Power Company \| PECO Energy Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Potomac Electric Power Company \| Baltimore Gas And Electric Company Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Potomac Electric Power Company \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Potomac Electric Power Company \| Delmarva Power and Light Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Potomac Electric Power Company \| Atlantic City Electric Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	1
Potomac Electric Power Company \| Other Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	1
Potomac Electric Power Company \| Related Party
Related Party Transaction [Line Items]
Accounts payable	31	32
Receivables from affiliates	0	2
Delmarva Power and Light Company \| Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable	21	25
Delmarva Power and Light Company \| Commonwealth Edison Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Delmarva Power and Light Company \| PECO Energy Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Delmarva Power and Light Company \| Baltimore Gas And Electric Company Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Delmarva Power and Light Company \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Delmarva Power and Light Company \| Potomac Electric Power Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Delmarva Power and Light Company \| Atlantic City Electric Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	1
Delmarva Power and Light Company \| Other Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Delmarva Power and Light Company \| Related Party
Related Party Transaction [Line Items]
Accounts payable	21	25
Receivables from affiliates	0	1
Atlantic City Electric Company \| Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable	19	25
Atlantic City Electric Company \| Commonwealth Edison Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Atlantic City Electric Company \| PECO Energy Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current		0
Atlantic City Electric Company \| Baltimore Gas And Electric Company Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Atlantic City Electric Company \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Atlantic City Electric Company \| Potomac Electric Power Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Atlantic City Electric Company \| Delmarva Power and Light Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
Atlantic City Electric Company \| Other Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	5	3
Atlantic City Electric Company \| Related Party
Related Party Transaction [Line Items]
Accounts payable	19	25
Receivables from affiliates	5	3
Business Services Company \| Commonwealth Edison Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	57	64
Business Services Company \| PECO Energy Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	30	36
Business Services Company \| Baltimore Gas And Electric Company Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	32	33
Business Services Company \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	6	5
Business Services Company \| Potomac Electric Power Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	17	17
Business Services Company \| Delmarva Power and Light Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	10	12
Business Services Company \| Atlantic City Electric Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	8	11
Business Services Company \| Other Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	1
Business Services Company \| Related Party
Related Party Transaction [Line Items]
Receivables from affiliates	160	179
PHI Service Company \| Commonwealth Edison Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
PHI Service Company \| PECO Energy Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
PHI Service Company \| Baltimore Gas And Electric Company Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
PHI Service Company \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	1	0
PHI Service Company \| Potomac Electric Power Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	13	14
PHI Service Company \| Delmarva Power and Light Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	10	11
PHI Service Company \| Atlantic City Electric Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	10	11
PHI Service Company \| Other Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	0	0
PHI Service Company \| Related Party
Related Party Transaction [Line Items]
Receivables from affiliates	34	36
Other Legal Entities \| Affiliated Entity
Related Party Transaction [Line Items]
Accounts payable	8	8
Other Legal Entities \| Commonwealth Edison Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	58	8
Other Legal Entities \| PECO Energy Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	6	3
Other Legal Entities \| Baltimore Gas And Electric Company Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	15	2
Other Legal Entities \| Pepco Holdings LLC Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	10	10
Other Legal Entities \| Potomac Electric Power Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	1	1
Other Legal Entities \| Delmarva Power and Light Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	1	1
Other Legal Entities \| Atlantic City Electric Co Affiliate
Related Party Transaction [Line Items]
Related party transaction, due from (to) related party, current	1	0
Other Legal Entities \| Related Party
Related Party Transaction [Line Items]
Receivables from affiliates	$ 92	$ 25

Revenue from Contract with Customer - Performance Obligations (Details) $ in Millions	Sep. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 128
Pepco Holdings LLC
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	128
Potomac Electric Power Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	102
Delmarva Power and Light Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	13
Atlantic City Electric Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	13
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Pepco Holdings LLC
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Potomac Electric Power Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Delmarva Power and Light Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 \| Atlantic City Electric Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Pepco Holdings LLC
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Potomac Electric Power Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Delmarva Power and Light Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 \| Atlantic City Electric Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Pepco Holdings LLC
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Potomac Electric Power Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Delmarva Power and Light Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 1
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 \| Atlantic City Electric Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Pepco Holdings LLC
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Potomac Electric Power Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Delmarva Power and Light Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 \| Atlantic City Electric Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 109
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Pepco Holdings LLC
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 109
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Potomac Electric Power Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 86
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Delmarva Power and Light Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 11
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01 \| Atlantic City Electric Company
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, amount	$ 12
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year

Regulatory Matters - Schedule of Completed Rate Cases (Details) $ in Millions															9 Months Ended	48 Months Ended
	Jun. 10, 2024 USD ($)	Apr. 18, 2024 USD ($)	Feb. 23, 2024 USD ($)	Dec. 14, 2023 USD ($)	Nov. 30, 2023 USD ($)	Nov. 17, 2023 USD ($)	Sep. 29, 2023 USD ($)	Aug. 21, 2023 USD ($)	Apr. 21, 2023 USD ($)	Feb. 17, 2023 USD ($)	Jan. 17, 2023 USD ($)	Dec. 14, 2022 USD ($)	May 19, 2022 USD ($)	Feb. 03, 2022	Sep. 30, 2024 USD ($)	Dec. 31, 2027 USD ($)
Commonwealth Edison Co
Regulatory Matters Completed Rate Cases [Line Items]
Basis points for ComEd's Revenue Requirement														580
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Base Rate Case
Regulatory Matters Completed Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)											$ 1,487
Approved Revenue Requirement Increase (Decrease)				$ 501
Approved Return on Equity, Percentage				8.905%
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Base Rate Case \| Forecast [Member]
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Approved Debt Capital Structure, Percentage																50.00%
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Base Rate Case \| 2023 \| Forecast [Member]
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)																$ (986)
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Base Rate Case \| 2024
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				$ 451
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Base Rate Case \| 2025
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				14
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Base Rate Case \| 2026
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				6
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Base Rate Case \| 2027
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				30
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Order on Rehearing
Regulatory Matters Completed Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)											$ 838
Approved Revenue Requirement Increase (Decrease)		$ 810
Approved Return on Equity, Percentage		8.905%
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Order on Rehearing \| 2024
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)		$ 150
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Order on Rehearing \| 2025
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)		186
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Order on Rehearing \| 2026
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)		221
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Order on Rehearing \| 2027
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)		253
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Reconciliation Rate Case
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities Requested Rate Increase (Decrease), Prior Year Annual Reconciliation									$ 247
Approved Revenue Requirement Increase (Decrease)					$ 259
Approved Return on Equity, Percentage					8.91%
Public Utilities, Approved Equity Capital Structure, Percentage					6.48%
Commonwealth Edison Co \| Illinois 2023 Electric Distribution Reconciliation Rate Case \| 2023
Regulatory Matters Completed Rate Cases [Line Items]
Basis points for ComEd's Revenue Requirement					580
Baltimore Gas and Electric Company \| Maryland 2023 Electric Distribution Base Rate Case
Regulatory Matters Completed Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)										$ 313
Approved Revenue Requirement Increase (Decrease)				$ 179
Approved Return on Equity, Percentage				9.50%
Baltimore Gas and Electric Company \| Maryland 2023 Electric Distribution Base Rate Case \| 2024
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				$ 41
Baltimore Gas and Electric Company \| Maryland 2023 Electric Distribution Base Rate Case \| 2025
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				113
Baltimore Gas and Electric Company \| Maryland 2023 Electric Distribution Base Rate Case \| 2026
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				25
Baltimore Gas and Electric Company \| Maryland 2023 Gas Distribution Base Rate Case
Regulatory Matters Completed Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)										$ 289
Approved Revenue Requirement Increase (Decrease)				$ 229
Approved Return on Equity, Percentage				9.45%
Baltimore Gas and Electric Company \| Maryland 2023 Gas Distribution Base Rate Case \| 2024
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				$ 126
Baltimore Gas and Electric Company \| Maryland 2023 Gas Distribution Base Rate Case \| 2025
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				62
Baltimore Gas and Electric Company \| Maryland 2023 Gas Distribution Base Rate Case \| 2026
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)				$ 41
Baltimore Gas and Electric Company \| Maryland 2023 Electric Distribution Reconciliation Rate Case \| 2021
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)															$ 13
Baltimore Gas and Electric Company \| Maryland 2023 Electric Distribution Reconciliation Rate Case \| 2022
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)															39
Baltimore Gas and Electric Company \| Maryland 2023 Electric Distribution Reconciliation Rate Case \| 2023
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)															79
Baltimore Gas and Electric Company \| Maryland 2023 Gas Distribution Reconciliation Rate Case \| 2021
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)															7
Baltimore Gas and Electric Company \| Maryland 2023 Gas Distribution Reconciliation Rate Case \| 2022
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)															15
Baltimore Gas and Electric Company \| Maryland 2023 Gas Distribution Reconciliation Rate Case \| 2023
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)															$ 73
Potomac Electric Power Company \| Pepco Maryland 2023 Electric Distribution Base Rate Case
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount			$ 111
Approved Revenue Requirement Increase (Decrease)	$ 45
Approved Return on Equity, Percentage	9.50%
Potomac Electric Power Company \| Pepco Maryland 2023 Electric Distribution Base Rate Case \| 2024
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)	$ 45
Potomac Electric Power Company \| Pepco Maryland 2023 Electric Distribution Base Rate Case \| 2025
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount	80
Potomac Electric Power Company \| Pepco Maryland 2023 Electric Distribution Base Rate Case \| 2026
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount	51
Potomac Electric Power Company \| Pepco Maryland 2023 Electric Distribution Base Rate Case \| 2027
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount	14
Potomac Electric Power Company \| Pepco Maryland 2023 Electric Distribution Reconciliation Rate Case \| 2022
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)	1
Potomac Electric Power Company \| Pepco Maryland 2023 Electric Distribution Reconciliation Rate Case \| 2023
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)	7
Potomac Electric Power Company \| Pepco Maryland 2023 Electric Distribution Reconciliation Rate Case \| 2024
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)	$ 31
Delmarva Power and Light Company \| Maryland 2022 Electric Distribution Base Rate Case
Regulatory Matters Completed Rate Cases [Line Items]
Requested Revenue Requirement Increase (Decrease)													$ 38
Approved Revenue Requirement Increase (Decrease)												$ 29
Approved Return on Equity, Percentage												9.60%
Delmarva Power and Light Company \| Maryland 2022 Electric Distribution Base Rate Case \| 2023
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)												$ 17
Delmarva Power and Light Company \| Maryland 2022 Electric Distribution Base Rate Case \| 2024
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)												6
Delmarva Power and Light Company \| Maryland 2022 Electric Distribution Base Rate Case \| 2025
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)												$ 6
Delmarva Power and Light Company \| Delaware 2022 Electric Distribution Base Rate Case
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount							$ 39
Approved Revenue Requirement Increase (Decrease)		$ 28
Approved Return on Equity, Percentage		9.60%
Delmarva Power and Light Company \| Delaware 2022 Electric Distribution Base Rate Case \| Minimum [Member]
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease) Annual Reconciliation		$ 5
Delmarva Power and Light Company \| Delaware 2022 Electric Distribution Base Rate Case \| Maximum [Member]
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease) Annual Reconciliation		$ 15
Atlantic City Electric Company \| New Jersey 2023 Electric Distribution Base Rate Case
Regulatory Matters Completed Rate Cases [Line Items]
Public Utilities, Requested Rate Increase (Decrease), Amended, Amount								$ 92
Approved Revenue Requirement Increase (Decrease)						$ 45
Approved Return on Equity, Percentage						9.60%
Atlantic City Electric Company \| New Jersey 2023 Electric Distribution Base Rate Case \| 2023
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)						$ 36
Atlantic City Electric Company \| New Jersey 2023 Electric Distribution Base Rate Case \| 2024
Regulatory Matters Completed Rate Cases [Line Items]
Approved Revenue Requirement Increase (Decrease)						$ 9