Exelon 2014 Annual Report Download - page 90

Volume
The increase in Operating revenue net of purchased power and fuel expense related to delivery volume, exclusive of the effects of
weather, primarily reflects the impact of moderate economic and customer growth partially offset by energy efficiency initiatives on
customer usages for gas and residential electric and a shift in the volume profile across classes from commercial and industrial
classes to residential classes for electric.
Pricing
The decrease in gas operating revenue net of fuel expense as a result of pricing is primarily attributable to lower overall effective
rates due to increased retail gas usage.
Regulatory Required Programs
This represents the change in operating revenue collected under approved riders to recover costs incurred for regulatory programs
such as smart meter, energy efficiency and the GSA. The riders are designed to provide full and current cost recovery as well as a
return. The costs of these programs are included in Operating and maintenance expense, Depreciation and amortization expense
and Income taxes. Refer to the Operating and maintenance expense discussion below for additional information on included
programs.
The changes in PECO’s operating revenue net of purchased power and fuel expense for the year ended December 31, 2013
compared to the same period in 2012 consisted of the following:
Increase (Decrease)
Electric Gas Total
Weather ................................................................................... $ 6 $ 31 $37
Volume .................................................................................... (3) (3) (6)
Pricing ..................................................................................... (14) 2 (12)
Regulatory required programs ................................................................. (6) — (6)
Gross receipts tax ........................................................................... (8) — (8)
Gas distribution tax repair ..................................................................... — (8) (8)
Other ...................................................................................... (7) (1) (8)
Total increase (decrease) ..................................................................... $(32) $ 21 $(11)
Weather
Operating revenue net of purchased power and fuel expense were higher due to the impact of favorable 2013 winter weather
conditions.
The changes in heating and cooling degree days in PECO’s service territory for the year ended December 31, 2013 compared to the
same period in 2012 and normal weather consisted of the following:
Twelve Months Ended
December 31, % Change
Heating and Cooling Degree-Days 2013 2012 Normal From 2012 From Normal
Heating Degree-Days ...................................... 4,474 3,747 4,603 19.4% (2.8)%
Cooling Degree-Days ...................................... 1,411 1,603 1,301 (12.0)% 8.5%
Volume
The decrease in electric revenue net of purchased power expense related to delivery volume, exclusive of the effects of weather,
reflected the impact of energy efficiency initiatives on customer usages as well as a shift in the volume profile across classes from
residential classes to commercial and industrial classes, partially offset by the oil refineries returning to full production in 2013 as well
as moderate economic growth. The decrease in gas revenue net of fuel expense related to delivery volume, exclusive of the effects
of weather, primarily reflected a decline in residential use per customer.
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