Exelon 2015 Annual Report Download - page 159

Table of Contents
Generation’s net mark-to-market position, as well as Exelon’s decision to post more cash collateral in 2014 compared to using letters of
credit in 2015 to support the PHI merger financing.
• During 2015, 2014 and 2013, Generation had net collections/(payments) of approximately $58 million, $38 million and $(36) million,
respectively, related to purchases and sales of options. The level of option activity in a given year may vary due to several factors,
including changes in market conditions as well as changes in hedging strategy.

• During 2015, 2014 and 2013, ComEd’s payables for Generation energy purchases increased/(decreased) by $(28) million, $5 million and
$(16) million, respectively, and payables to other energy suppliers for energy purchases increased by $2 million, $27 million and $35
million, respectively.
• During 2015, ComEd posted $31 million of cash collateral to PJM. During 2014, ComEd posted no cash collateral to PJM. ComEd’s
collateral posted with PJM has increased year over year primarily due to higher RPM credit requirements and higher PJM billings
resulting from increased load being served by ComEd as a result of City of Chicago customers switching back to ComEd.

• During 2015, 2014 and 2013, PECO’s payables to Generation for energy purchases increased/(decreased) by $7 million, $(9) million and
$(17) million, respectively, and payables to other energy suppliers for energy purchases increased/(decreased) by $(38) million, $10
million and $39 million, respectively.

• During 2015, 2014 and 2013, BGE’s payables to Generation for energy purchases increased/(decreased) by $(9) million, $13 million and
$(4) million, respectively, and payables to other energy suppliers for energy purchases decreased by $(25) million, $(7) million and $(12)
million, respectively.
Cash Flows from Investing Activities
Cash flows used in investing activities for the year ended December 31, 2015, 2014, and 2013 by Registrant were as follows:
2015 2014 2013
Exelon $(7,822) $(4,599) $(5,394)
Generation (4,069) (1,767) (2,916)
ComEd (2,362) (1,655) (1,387)
PECO (588) (649) (531)
BGE (675) (622) (571)
(a) On April 1, 2014, Generation assumed operational control of CENG’s nuclear fleet. As a result, the 2015 and 2014 activity includes CENG on a fully consolidated basis beginning
April 1, 2014.
152
(a)
(a)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
The information contained herein may not be copied, adapted or distributed and is not warranted to be accurate, complete or timely. The user assumes all risks for any damages or losses arising from any use of this information,
except to the extent such damages or losses cannot be limited or excluded by applicable law. Past financial performance is no guarantee of future results.