Exelon 2015 Annual Report Download - page 26

Table of Contents
ComEd
ComEd is engaged principally in the purchase and regulated retail sale of electricity and the provision of electricity distribution and
transmission services to retail customers in northern Illinois. ComEd is a public utility under the Illinois Public Utilities Act subject to regulation by
the ICC related to distribution rates and service, the issuance of securities and certain other aspects of ComEd’s business. ComEd is a public
utility under the Federal Power Act subject to regulation by FERC related to transmission rates and certain other aspects of ComEd’s business.
Specific operations of ComEd are also subject to the jurisdiction of various other Federal, state, regional and local agencies. Additionally, ComEd
is subject to NERC mandatory reliability standards.
ComEd’s franchises are sufficient to permit it to engage in the business it now conducts. ComEd’s franchise rights are generally
nonexclusive rights documented in agreements and, in some cases, certificates of public convenience issued by the ICC. With few exceptions,
the franchise rights have stated expiration dates ranging from 2016 to 2066. ComEd anticipates working with the appropriate governmental bodies
to extend or replace the franchise agreements prior to expiration.
PECO
PECO is engaged principally in the purchase and regulated retail sale of electricity and the provision of electricity distribution and
transmission services to retail customers in southeastern Pennsylvania, including the City of Philadelphia, as well as the purchase and regulated
retail sale of natural gas and the provision of gas distribution services to retail customers in the Pennsylvania counties surrounding the City of
Philadelphia. PECO is a public utility under the Pennsylvania Public Utility Code subject to regulation by the PAPUC related to electric and gas
distribution rates and service, the issuances of certain securities and certain other aspects of PECO’s business. PECO is a public utility under the
Federal Power Act subject to regulation by FERC related to transmission rates and certain other aspects of PECO’s business and by the U.S.
Department of Transportation related to pipeline safety and other areas of gas operations. Specific operations of PECO are subject to the
jurisdiction of various other Federal, state, regional and local agencies. Additionally, PECO is also subject to NERC mandatory reliability
standards.
PECO has the necessary authorizations to provide regulated electric and natural gas distribution services in the various municipalities or
territories in which it now supplies such services. PECO’s authorizations consist of charter rights and certificates of public convenience issued by
the PAPUC and/or “grandfathered rights,” with all of such rights generally unlimited as to time and generally exclusive from competition from other
electric and natural gas utilities. In a few defined municipalities, PECO’s natural gas service territory authorizations overlap with that of another
natural gas utility; however, PECO does not consider those situations as posing a material competitive or financial threat.
BGE
BGE is engaged principally in the purchase and regulated retail sale of electricity and the provision of electricity distribution and transmission
services to retail customers in central Maryland, including the City of Baltimore, as well as the purchase and regulated retail sale of natural gas
and the provision of gas distribution services to retail customers in central Maryland, including the City of Baltimore. BGE is a public utility under
the Public Utilities Article of the Maryland Annotated Code subject to regulation by the MDPSC related to electric and gas distribution rates and
service, the issuances of certain securities and certain other aspects of BGE’s business. BGE is a public utility under the Federal Power Act
subject to regulation by FERC related to transmission rates and certain other aspects of BGE’s business and by the U.S. Department of
Transportation related to pipeline safety and other areas of gas operations. Specific operations of BGE are subject to the jurisdiction of various
other Federal, state, regional and local agencies. Additionally, BGE is also subject to NERC mandatory reliability standards.
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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