Exelon 2014 Annual Report Download - page 76

Generation’s supply sources by region are summarized below:
2014 vs. 2013 2013 vs. 2012
Supply source (GWh) 2014 2013 Variance % Change 2012 (a) Variance % Change
Nuclear generation (b)
Mid-Atlantic ............................... 58,809 48,881 9,928 20.3% 47,337 1,544 3.3%
Midwest .................................. 94,000 93,245 755 0.8% 92,525 720 0.8%
New York ................................. 13,645 — 13,645 n.m. — — — %
166,454 142,126 24,328 17.1% 139,862 2,264 1.6%
Fossil and renewables (b)
Mid-Atlantic (b)(d) ............................ 11,025 11,714 (689) (5.9)% 8,808 2,906 33.0%
Midwest .................................. 1,372 1,478 (106) (7.2)% 971 507 52.2%
New England .............................. 5,233 10,896 (5,663) (52.0)% 9,965 931 9.3%
New York ................................. 4 — 4 n.m. — — n.m.
ERCOT ................................... 7,164 6,453 711 11.0% 6,182 271 4.4%
Other Regions (e) ........................... 7,955 6,664 1,291 19.4% 5,913 751 12.7%
32,753 37,205 (4,452) (12.0)% 31,839 5,366 16.9%
Purchased power
Mid-Atlantic (c) .............................. 6,082 14,092 (8,010) (56.8)% 20,830 (6,738) (32.3)%
Midwest .................................. 2,004 4,408 (2,404) (54.5)% 9,805 (5,397) (55.0)%
New England .............................. 12,354 7,655 4,699 61.4% 9,273 (1,618) (17.4)%
New York (c) ............................... 2,857 13,642 (10,785) (79.1)% 11,457 2,185 19.1%
ERCOT ................................... 10,108 15,063 (4,955) (32.9)% 23,302 (8,239) (35.4)%
Other Regions (e) ........................... 14,795 14,931 (136) (0.9)% 17,327 (2,396) (13.8)%
48,200 69,791 (21,591) (30.9)% 91,994 (22,203) (24.1)%
Total supply by region (f)
Mid-Atlantic (g) .............................. 75,916 74,687 1,229 1.6% 76,975 (2,288) (3.0)%
Midwest (h) ................................ 97,376 99,131 (1,755) (1.8)% 103,301 (4,170) (4.0)%
New England .............................. 17,587 18,551 (964) (5.2)% 19,238 (687) (3.6)%
New York ................................. 16,506 13,642 2,864 21.0% 11,457 2,185 19.1%
ERCOT ................................... 17,272 21,516 (4,244) (19.7)% 29,484 (7,968) (27.0)%
Other Regions (e) ........................... 22,750 21,595 1,155 5.3% 23,240 (1,645) (7.1)%
Total supply ................................... 247,407 249,122 (1,715) (0.7)% 263,695 (14,573) (5.5)%
(a) Includes results for Constellation beginning on March 12, 2012, the date the merger was completed.
(b) Includes the proportionate share of output where Generation has an undivided ownership interest in jointly-owned generating plants and includes the total output of
plants that are fully consolidated (e.g. CENG). Nuclear generation for the year ended December 31, 2014 includes physical volumes of 11,408 GWh in Mid-Atlantic
and 13,645 GWh in New York for CENG.
(c) Purchased power includes physical volumes of 2,489 GWh, 12,067 GWh, and 9,925 GWh in the Mid-Atlantic and 2,857 GWh, 12,165 GWh, and 9,350 GWh in New
York as a result of the PPA with CENG for the years ended December 31, 2014, 2013, and 2012, respectively. On April 1, 2014, Generation assumed operational
control of CENG’s nuclear fleet. As a result, 100% of CENG volumes are included in nuclear generation.
(d) Excludes generation under the reliability-must-run rate schedule and generation of Brandon Shores, H.A. Wagner, and C.P. Crane, the generating facilities divested
in the fourth quarter of 2012 as a result of the Exelon and Constellation merger.
(e) Other Regions includes South, West and Canada, which are not considered individually significant.
(f) Excludes physical proprietary trading volumes of 10,571 GWh, 8,762 GWh, and 12,958 GWh for the years ended December 31, 2014, 2013, and 2012, respectively.
(g) Includes sales to PECO through the competitive procurement process of 2,520 GWh, 5,070 GWh, and 7,762 GWh for the years ended December 31, 2014, 2013,
and 2012, respectively. Sales to BGE of 5,093 GWh, 5,595 GWh, and 3,766 GWh were included for the years ended December 31, 2014, 2013, and 2012,
respectively.
(h) Includes sales to ComEd under the RFP procurement of 5,259 GWh, 7,491 GWh and 4,152 GWh for the years ended December 31, 2014, 2013, and 2012,
respectively.
Mid-Atlantic
Year Ended December 31, 2014 Compared to Year Ended December 31, 2013. The increase in revenue net of purchased power
and fuel expense in the Mid-Atlantic of $147 million was primarily due to the consolidation of CENG, the cancellation of the DOE
spent nuclear fuel disposal fees, and favorable portfolio management optimization activities, partially offset by higher procurement
costs for replacement power, lower nuclear volumes (excluding CENG), lower capacity revenues, and lower realized energy prices
related to executing Generation’s ratable hedging strategy.
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