ComEd 2006 Annual Report Download - page 288

Exelon Corporation and Subsidiary Companies
Exelon Generation Company, LLC and Subsidiary Companies
Commonwealth Edison Company and Subsidiary Companies
PECO Energy Company and Subsidiary Companies
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
liability and current liability, respectively, within the Consolidated Balance Sheets of Generation as of December 31, 2006
related to this guarantee. The terms of the guarantee do not limit the potential future payments that Exelon New England
could be required to make under the guarantee. Other guarantees associated with Exelon New England included in current
liabilities total less than $1 million.
ComEd’s commercial commitments as of December 31, 2006, representing commitments
potentially triggered by future events, were as follows:
Expiration within
Total 2007 2008-2009 2010-2011
2012
and beyond
Letters of credit (non-debt) (a) ...................... $44 $44 $— $— $—
Midwest Generation Capacity Reservation Agreement
guarantee (b) .................................. 22 4 8 8 2
Surety bonds (c) ................................. 2 2 — — —
Other .......................................... 6 6 — — —
Total commercial commitments .................... $74 $56 $ 8 $ 8 $ 2
(a) Letters of credit (non-debt)—ComEd maintains non-debt letters of credit to provide credit support for certain transactions as
requested by third parties.
(b) Midwest Generation Capacity Reservation Agreement guarantee—In connection with ComEd’s agreement with Chicago
entered into on February 20, 2003, Midwest Generation assumed from Chicago a Capacity Reservation Agreement that
Chicago had entered into with Calumet Energy Team, LLC. ComEd has agreed to reimburse Chicago for any
nonperformance by Midwest Generation under the Capacity Reservation Agreement. Under FIN 45, “Guarantor’s
Accounting and Disclosure Requirements for Guarantees, Including Indirect Guarantees of Indebtedness to Others” (FIN
45), $2 million is included as a liability on ComEd’s Consolidated Balance Sheets at December 31, 2006.
(c) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.
PECO’s commercial commitments as of December 31, 2006, representing commitments
potentially triggered by future events, were as follows:
Expiration within
Total 2007 2008-2009 2010-2011
2012
and beyond
Letters of credit (non-debt) (a) ...................... $31 $31 $— $— $—
Surety bonds (b) ................................. 25 25 — — —
Other .......................................... 2 2 — — —
Total commercial commitments .................... $58 $58 $— $— $—
(a) Letters of credit (non-debt)—PECO maintains non-debt letters of credit to provide credit support for certain transactions as
requested by third parties.
(b) Surety bonds—Guarantees issued related to contract and commercial agreements, excluding bid bonds.
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