Exelon 2008 Annual Report Download - page 30
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Please find page 30 of the 2008 Exelon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.DiscussionofFinancialResults-Exelon
PurchasedPowerandFuelExpense.Purchasedpowerandfuelexpensedecreasedduetonetmark-to-marketgainsoneconomichedgingactivities;favorablesettlements
reached in 2008 related to uranium supply agreements; unfavorable weather conditions in the ComEd and PECO service territories; and the impact of a 2007 loss
associatedwithGeneration’stollingagreementwithGeorgiaPowerrelatedtoacontractwithTenaska.Thesedecreaseswerepartiallyoffsetbyincreasednuclearfuel
costsatGeneration;increasedtransmissionexpenseatPECO;andtheimpactofthefavorablePJMbillingdisputesettlementwithPPLin2007.
OperatingandMaintenanceExpense.OperatingandmaintenanceexpenseincreasedprimarilyduetoincreasedallowanceforuncollectibleaccountsexpenseatPECO
andComEdaswellastheestablishmentofareserverelatedtoGeneration’saccountsreceivablefromLehman;discretedisallowances,netofallowedregulatoryassets,
mandated by the September 2008 Illinois Commerce Commission (ICC) order in ComEd’s 2007 delivery service rate case; labor-related ination; increased expenses
relatedtoahighernumberofplannednuclearrefuelingoutages,includingplannednuclearrefuelingoutagecostsatSalemGeneratingStation;anddecreasednuclear
insurancecreditsaccruedbyGenerationin2008.Theseincreasesarepartiallyoffsetbyadecreaseincostsassociatedwiththeevaluationanddevelopmentofanew
nucleargeneratingfacilityinTexas;decreasedcharitablecontributionstotheExelonFoundation;anddecreasedstock-basedcompensationcosts.
DepreciationandAmortizationExpense.DepreciationandamortizationexpenseincreasedprimarilyduetoincreasedscheduledCTCamortizationexpenseatPECOand
higherplantbalancesduetoadditionalplantplacedinserviceacrossExelon.
TaxesOtherThanIncome.TaxesotherthanincomedecreasedprimarilyduetoanIllinoisdistributiontaxrefundreceivedin2008andtheamortizationoftheregulatory
liabilityrecordedinconnectionwiththe2007PURTAsettlement,whichbeganinJanuary2008andisoffsetbylowerrevenuesduetoareductioninthedistributionrates
torefundthePURTAtaxestocustomers.Thesefactorsarepartiallyoffsetbytheimpactofincreasedpropertytaxesandpayrolltaxes.
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