exelonform8-k.htm
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
October
8, 2008
Date of Report (Date of earliest
event reported)
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Commission File
Number
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Exact
Name of Registrant as Specified in Its Charter; State of Incorporation;
Address of Principal Executive Offices; and Telephone
Number
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IRS
Employer
Identification Number
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1-16169
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EXELON
CORPORATION
(a
Pennsylvania corporation)
10
South Dearborn Street
P.O.
Box 805379
Chicago,
Illinois 60680-5379
(312)
394-7398
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23-2990190
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000-16844
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PECO
ENERGY COMPANY
(a
Pennsylvania corporation)
P.O.
Box 8699
2301
Market Street
Philadelphia,
Pennsylvania 19101-8699
(215)
841-4000
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23-0970240
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Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
£ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
£ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
£
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))
£
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))
Section
8 – Other Events
Item
8.01. Other Events.
On
October 8, 2008, the Pennsylvania General Assembly passed House Bill No. 2200,
which will become law upon the signature of the Governor of
Pennsylvania. This legislation requires that Pennsylvania electric
utility companies meet energy-conservation and demand-reduction targets,
beginning in 2011, to enhance the Commonwealth’s energy independence and enable
programs to help consumers manage their energy use. By July 1, 2009,
PECO Energy Company (PECO) will file with the Pennsylvania Public Utility
Commission (PAPUC) plans to meet these energy-efficiency and demand-response
goals. Also, PECO will be required to transition its electric
customers to smart-meter technology over a fifteen-year period and to make
available time-of-use rates and real-time price plans. The
legislation allows recovery of costs for each of these programs, subject to
approval by the PAPUC. Finally, House Bill No. 2200 provides
guidelines associated with electricity procurement that support competitive,
market-based procurement through auctions, requests for proposal or bilateral
agreements with a prudent mix of spot market purchases, short-term contracts and
long-term (more than four year) purchase contracts.
As of the
conclusion of the Fall legislative session of the Pennsylvania Senate on October
8, 2008, no legislation was passed associated with the mitigation of the
potential impacts of electricity price increases upon the ending of retail
electric generation rate cap transition periods. As previously
disclosed, PECO continues to support the phase-in of expected higher electricity
prices for its customers in 2011 through the plan it filed with the PUC in
September 2008.
* * * *
*
This
combined Form 8-K is being furnished separately by Exelon Corporation (Exelon)
and PECO (Registrants). Information contained herein relating to any
individual Registrant has been furnished by such Registrant on its own
behalf. No Registrant makes any representation as to information
relating to any other Registrant.
This
Current Report includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, that are subject to risks and
uncertainties. The factors that could cause actual results to differ materially
from these forward-looking statements include those discussed herein as well as
those discussed in (1) Exelon’s 2007 Annual Report on Form 10-K in (a) ITEM 1A.
Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial
Condition and Results of Operations and (c) ITEM 8. Financial Statements and
Supplementary Data: Note 19; (2) Exelon’s Second Quarter 2008 Quarterly Report
on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors and (b)
Part I, Financial Information, ITEM 1. Financial Statements: Note 12; and (3)
other factors discussed in filings with the SEC by the
Registrants. Readers are cautioned not to place undue reliance on
these forward-looking statements, which apply only as of the date of this
Current Report. None of the Registrants undertakes any obligation to publicly
release any revision to its forward-looking statements to reflect events or
circumstances after the date of this Current Report.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, each Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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EXELON
CORPORATION
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/s/
Matthew F.
Hilzinger
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Matthew
F. Hilzinger
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Senior
Vice President and Chief Financial Officer
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Exelon
Corporation
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PECO
ENERGY COMPANY
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/s/
Phillip S. Barnett
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Phillip
S. Barnett
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Senior
Vice President and Chief Financial Officer
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PECO
Energy Company
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