Exelon Corporation
Exelon Corporation (Exelon), a registered public utility holding company, through
its subsidiaries, operates in three business segments – Energy Delivery, Generation
and Enterprises. In addition to Exelon’s three business segments, Exelon Business
Services Company (BSC), a subsidiary of Exelon, provides Exelon and its subsidiaries
with financial, human resource, legal, information technology, supply management
and corporate governance services.
Energy Delivery
Exelon’s energy delivery business consists of the regulated sale of electricity
and distribution and transmission services by Commonwealth Edison Company (ComEd)
in northern Illinois and by PECO Energy Company (PECO) in southeastern Pennsylvania
and the regulated sale of natural gas and distribution services by PECO in the
Pennsylvania counties surrounding the City of Philadelphia.
Generation
Exelon’s generation business consists of the owned and contracted for electric
generating facilities and energy marketing operations of Exelon Generation Company,
LLC (Generation), a 50% interest in Sithe Energies, Inc.
Enterprises
Exelon’s enterprise business consists primarily of the energy services business
of Exelon Services, Inc. (Exelon Services), the district cooling business of
Exelon Thermal Holdings, Inc. (Thermal), the electrical contracting business
of F&M Holdings, Inc., a communications joint venture and other investments
weighted towards the communications, energy services and retail services industries.
Energy Delivery
Energy Delivery consists of Exelon’s regulated energy delivery operations conducted
by ComEd and PECO.
ComEd is engaged principally in the purchase, transmission, distribution and
sale of electricity to a diverse base of residential, commercial, industrial
and wholesale customers in northern Illinois. ComEd is subject to extensive
regulation by the ICC as to rates, the issuance of securities, and certain other
aspects of ComEd’s operations. ComEd is also subject to regulation by the FERC
as to transmission rates and certain other aspects of its business.
Retail Electric Services
Electric utility restructuring legislation was adopted in Pennsylvania in December
1996 and in Illinois in December 1997. Both Illinois and Pennsylvania permit
competition by alternative generation suppliers for retail generation supply
while transmission and distribution service remains fully regulated. Both states,
through their regulatory agencies, established a phased approach for allowing
customers to choose an alternative electric generation supplier; required rate
reductions and imposed caps on rates during a transition period; and allowed
the collection of competitive transition charges (CTCs) from customers to recover
costs that might not otherwise be recovered in a competitive market (stranded
costs).
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