ComEd 2013 Annual Report Download - page 256

December 31,
2013 2012
Investmentsinaffiliates:
ComEd FinancingIII............................................................................. $ 6 $ 6
PECO Energy Capital Corporation ................................................................. 4 4
PECO TrustIV ................................................................................. 4 4
BGE Capital TrustII ............................................................................. 8 8
Total investmentsinaffiliates...................................................................... $ 22 $22
Receivablesfromaffiliates(current):
CENG (b) ...................................................................................... $ 3$16
Payablesto affiliates(current):
CENG (c) ...................................................................................... $ 85 $ 83
ComEd FinancingIII............................................................................. 4 4
PECO TrustIII.................................................................................. 11
BGE Capital TrustII ............................................................................. 4 4
Keystone Fuels,LLC ............................................................................ 12 11
Conemaugh Fuels,LLC .......................................................................... 9 9
Other ......................................................................................... 1—
Total payablesto affiliates(current) ................................................................ $116$112
Long-termdebtdue to financingtrusts:
ComEd FinancingIII............................................................................. $206$206
PECO TrustIII.................................................................................. 8181
PECO TrustIV ................................................................................. 103 103
BGE Capital TrustII ............................................................................. 258 258
Total long-termdebtdue to financingtrusts .......................................................... $648 $648
(a)Theintersegment profitassociatedwiththesale ofcertain productsandservicesbyandbetween Exelon’s segmentsisnot eliminatedinconsolidation due to the
recognition ofintersegment profitinaccordancewithregulatoryaccountingguidance.For Exelon,theseamountsare includedin operatingrevenuesinthe
ConsolidatedStatement ofOperations. See Note 3—RegulatoryMattersfor additional information.
(b) Exelon hasasharedservicesagreement (SSA)with CENG, which expiresin 2017. Pursuant to an agreement between Exelon and EDF, thepricingintheSSAfor
servicesreflectactual costsdeterminedon thesamebasis that BSC chargesitsaffiliatesfor similar servicessubject to an annual cap for mostSSAservices
provided. Inaddition to theSSA,Generation hasapower servicesagency agreement (PSAA)withtheCENG plants, which expireson December 31,2014. The
PSAA is afive-year agreement under which Generation provides scheduling, asset management andbillingservicesto theCENG plantsfor a specifiedmonthlyfee.
Thechargesfor servicesreflectthecostoftheservices. At theclosing, asdescribedunder theMaster Agreement,thePSAA will beamendedandextendeduntilthe
complete andpermanent cessation ofoperation oftheCENG generation plants. For further information regardingtheInvestment inCENG see Note 5—Investment in
Constellation Energy Nuclear Group, LLC.
(c) CENG owns100%offour nuclear unitsinMarylandandNewYorkand82%ofNine Mile Point Unit2inNewYork. Generation hasaPPAunder which itis
purchasing 85% ofthenuclear plant output owned by CENG that is not soldto thirdpartiesunder pre-existingfirmandunit-contingent PPAsthrough 2014. Beginning
on January1,2015andcontinuingto theendofthelifeoftherespective plants, Generation will purchaseonaunit-contingent basis 50.01%ofthenuclear plant
output owned by CENG andasubsidiaryof EDF will purchaseonaunit-contingent basis 49.99% ofthenuclear plant output owned by CENG (EDF PPA). This
agreement will continue to beeffectiveandisnot affectedbytheMaster Agreement,except that if the put option under theMaster Agreement is exercised, then the
EDF PPAwouldtransfer to Generation upon completion ofthePut Option Agreement transaction.For further information regardingtheInvestment inCENG see Note
5—Investment inConstellation Energy Nuclear Group, LLC.
(d) Exelon Foundation is a nonconsolidatednot-for-profitIllinois corporation.TheExelon Foundation wasestablishedin 2007to serveeducational andenvironmental
philanthropic purposesanddoesnot serveadirectbusiness or political purposeofExelon.
(e)Generation’s total gain(loss) inequitymethodinvestmentsincludesequityinvestment income(loss) andamortization ofbasis difference.For further information
regardingtheInvestment inCENG see Note 5—Investment inConstellation Energy Nuclear Group, LLC.
(f) TheBGE Capital TrustII portion ofExelon’s interestexpensetoaffiliates, net,for December 31,2012 excludes$4million ofexpenseincurredin 2012 prior to the
closingofExelon’s merger withConstellation on March 12,2012.
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