Exelon 2014 Annual Report Download - page 91

Pricing
The decrease in electric operating revenue net of purchased power expense as a result of pricing is primarily attributable to lower
overall effective rates due to increased usage across all major customer classes.
Regulatory Required Programs
This represents the change in operating revenue collected under approved riders to recover costs incurred for the smart
meter, energy efficiency and consumer education programs as well as the administrative costs for the GSA and AEPS
programs. The riders are designed to provide full and current cost recovery as well as a return. The offsetting 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.
Gross Receipts Tax
GRT is an excise tax on total electric revenue. As a result of decreases in operating revenue compared to 2012, GRT decreased.
Equal and offsetting decreases in GRT have been reflected in Taxes other than income.
Gas Distribution Tax Repair
The decrease in gas distribution tax repair reflected the 2012 tax benefit received from prior period gas distribution repairs for the
2011 tax year. There is an equal and offsetting tax benefit in Operating revenue, see Note 3—Regulatory Matters of the Combined
Notes to Consolidated Financial Statements for further explanation.
Other
The decrease in other electric revenue net of purchased power expense compared to the year ended December 31, 2012 reflected a
decrease in wholesale transmission revenue earned by PECO due to higher peak loads in the previous years.
Operating and Maintenance Expense
Twelve Months
Ended December 31, Increase
Twelve Months
Ended December 31, (Decrease)
2014 2013 2014 vs. 2013 2013 2012 2013 vs. 2012
Operating and maintenance expense—baseline ........ $761 $668 $ 93 $668 $723 $(55)
Operating and maintenance expense—regulatory
required programs (a) ............................ 105 80 $ 25 80 86 $ (6)
Total operating and maintenance expense ............ $866 $748 $118 $748 $809 $(61)
(a) Operating and maintenance expenses for regulatory required programs are costs for various legislative and/or regulatory programs that are recoverable from
customers on a full and current basis through approved regulated rates. An equal and offsetting amount has been reflected in operating revenue.
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