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2014 Summary
Annual Report

Table of contents

  • Page 1
    2014 Summary Annual Report |1

  • Page 2
    ...-looking statements made by Exelon Corporation, Commonwealth Edison Company, PECO Energy Company, Baltimore Gas and Electric Company and Exelon Generation Company, LLC (Registrants) include those factors discussed herein, as well as the items discussed in (1) Exelon's 2014 Annual Report on Form 10...

  • Page 3
    ..., building new generating plants, expanding existing lines of business and moving into new technologies and markets. Our core operations remain excellent, and we delivered top quartile utility reliability and best-ever nuclear generation. Christopher M. Crane President and Chief Executive Officer...

  • Page 4
    ... in 2014. The three nuclear plants of CENG, our joint venture with Électricité de France, also operated very well at a 92.6 percent capacity factor, and were fully integrated into Exelon fleet management this year. The Exelon generation fleet, with its mix of nuclear, gas, hydro, solar, and wind...

  • Page 5
    ... service for our customers and a stable return for the company. We added 215 megawatts (MW) of new generation to the portfolio in 2014: nuclear uprates, wind projects and solar. The generation development pipeline is also robust with more than 2,100 MW in our two ERCOT combined-cycle gas turbine...

  • Page 6
    Exelon 2014 Summary Annual Report Letter to Our Shareholders We are leveraging our competencies and existing assets to move into adjacent markets. We are growing our distributed energy platform, including biomass, compressed natural gas fueling stations and behind-the-meter solar, to take ...

  • Page 7
    ... to progress- connecting customers to cleaner, more cost-effective energy resources and actively leading the conversation to help shape the future of clean energy. Exelon's employees are committed to building strong working partnerships - with each other and with the communities we serve. |7

  • Page 8
    Exelon 2014 Summary Annual Report Our Mission Our Mission Exelon's mission is to be the leading diversified energy company - by providing reliable, clean, affordable and innovative energy products. Exelon is fulfilling its mission by leveraging our integrated business model to create value and ...

  • Page 9
    ... and develop more efficient energy. In all we do, we passionately exceed the standards of our industry-and those we set for ourselves-creating value for our shareholders, customers and communities. We innovate to better serve our customers. We see every challenge as an opportunity to exercise...

  • Page 10
    ... lowest-cost power generation ï¬,eets. Constellation provides energy products and services to 2.5 million residential, business and public sector customers. Exelon's utilities deliver electricity to more than 6.6 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern...

  • Page 11
    Exelon 2014 Summary Annual Report Our Footprint Generation Facilities Exelon Generation has assets in 18 states and Canada. (see complete list on page 12) Constellation Constellation has a presence in 48 states and Washington D.C. | 11

  • Page 12
    Exelon 2014 Summary Annual Report Our Footprint Generation Facility Locations ALABAMA • Gas: Hillabee (Combined Cycle), 695 MW MASSACHUSETTS • Gas: Mystic 8&9 (Combined Cycle), 1,418 MW • Gas/Oil: Mystic 7, 575 MW • Oil: Mystic Jet, 9 MW • Oil: Framingham, 33 MW • Oil: New Boston, 16 ...

  • Page 13
    ... semi-annual innovation expos and introducing new solutions in their own operating companies: • ComEd employees Jerald Fitzpatrick and Victor Beltran, motivated by a desire to improve productivity and safety, developed a mobile meter reading app for smart phones. The app serves as a powerful tool...

  • Page 14
    Exelon 2014 Summary Annual Report Our Companies - Exelon Utilities Exelon Utilities Through its utilities - BGE, ComEd and PECO - Exelon delivers electricity to approximately 6.6 million customers in central Maryland, northern Illinois and southeastern Pennsylvania, and natural gas to ...

  • Page 15
    ... Electric Energy, Testing and Research and Application Center, and Toshiba International Corporation. • The expanded use of social media and customer self-service options has led to improved customer satisfaction. The offerings developed were based on lessons learned at each utility and industry...

  • Page 16
    Exelon 2014 Summary Annual Report Our Companies - Exelon Utilities Exelon Utilities by the Numbers 6.6 million electric customers 1,200,000 customers natural gas 15,800 square miles of combined service territory more than 3.7 million smart meters installed by year-end 2014. utilities all ...

  • Page 17
    Exelon 2014 Summary Annual Report Our Companies - BGE BGE Headquartered in Baltimore, BGE is led by Calvin G. Butler, Jr., its CEO. BGE has been implementing the Strategic Infrastructure Development and Enhancement (STRIDE) plan to replace outdated materials on the gas system. | 17

  • Page 18
    ... electricity usage on Energy Savings Days realized nearly $5.7 million in bill credits this past summer. Thousands of BGE customers every month receive mobile alerts about their energy use as part of the company's new Smart Energy Manager program, and access the Peak Rewards demand-response program...

  • Page 19
    Exelon 2014 Summary Annual Report Our Companies - BGE BGE by the Numbers 2,300 square miles 1.2 million electric customers service territory 655,000 gas customers 7,236 MW all-time peak load 3,400 employees | 19

  • Page 20
    ... Annual Report Our Companies - ComEd ComEd Headquartered in Chicago and led by President and CEO Anne R. Pramaggiore, ComEd serves 3.8 million electric customers in an 11,400 square mile service territory. ComEd, like its sister utilities BGE and PECO, is in the midst of an aggressive program...

  • Page 21
    ... of customers and employees. ComEd, like its sister utilities BGE and PECO, is in the midst of an aggressive program to modernize its electric grid in accordance with the Illinois Energy Infrastructure Modernization Act (EIMA); out of a planned 4 million smart meters, the company had installed more...

  • Page 22
    Exelon 2014 Summary Annual Report Our Companies - ComEd ComEd by the Numbers 5,400 employees 11,400 square miles 3.8 million electric customers service territory 3.2 million avoided customer interruptions due to smart switches since 2012 | 22

  • Page 23
    Exelon 2014 Summary Annual Report Our Companies - PECO PECO Headquartered in Philadelphia and led by President and CEO Craig L. Adams, PECO provides service to about 1.6 million electric and more than 500,000 natural gas customers in southeastern Pennsylvania. PECO's iconic "Crown LIghts," made ...

  • Page 24
    ... among large electric and natural gas utilities in 2013 - at 0.45, one of the lowest in the industry. PECO's continued investment in its electric system resulted in strong reliability performance, with one of the lowest number of outages in its history - just 0.77 outages per customer despite record...

  • Page 25
    Exelon 2014 Summary Annual Report Our Companies - PECO PECO by the Numbers 2,400 employees 2,100 square miles 1.6 million electric customers service territory 506,000 gas customers 8,983 MW all-time peak load | 25

  • Page 26
    Exelon 2014 Summary Annual Report Our Companies - Generation Generation Exelon Generation includes Nuclear, Power and Constellation and is led by its president and CEO, Kenneth Cornew. Generation is the leading competitive power generator in the nation, with owned generating assets totaling more ...

  • Page 27
    ...from the Nuclear Regulatory Commission a license extension for Limerick to operate through 2050 - an additional 20 years beyond its current license expiration date. Exelon Power's fleet provided more than 33 million megawatt-hours of reliable generation in 2014 with a gas and hydro dispatch match of...

  • Page 28
    Exelon 2014 Summary Annual Report Our Companies - Generation Generation by the Numbers 1,642 MW hydro 1,382 MW wind 66 MW landfill gas 410 MW solar 6,506 MW natural gas 19,316 MW nuclear | 28

  • Page 29
    ... of power, natural gas and energy products, serving commercial, industrial and public-sector power and gas users, including two-thirds of the Fortune 500, as well as small-business and residential customers. In 2014, Constellation managed sales and dispatch from Exelon's generation portfolio...

  • Page 30
    ... energy business beyond solar to include co-generation, standby generation, fuel cells, battery storage, and electric charging stations - and acquired a network of compressed natural gas stations - all emerging technologies that demonstrate the company's commitment to creating value for customers...

  • Page 31
    ... Summary Annual Report Our Companies - Constellation Constellation by the Numbers 150 TW 200 hours of electric load served billion cubic feet of retail gas served Serves more than 2/3 Presence in 48 states & DC of the Fortune 500 2.5 million residential, business and government customers...

  • Page 32
    Exelon 2014 Summary Annual Report Our Companies - Exelon Business Services Company Exelon Business Services Company Exelon Business Services Company (BSC) is a wholly-owned subsidiary of Exelon Corporation that provides governance, oversight and a wide range of support services throughout the ...

  • Page 33
    Exelon 2014 Summary Annual Report Our Companies - Exelon Business Services Company Business Services Company by the Numbers 112,691 $31,439,363 in community grants overseen by Corporate Relations employee volunteer hours on behalf of the companies managed by Corporate Relations Information ...

  • Page 34
    ... President and Chief Commercial Officer, Exelon and President and Chief Executive Officer, Exelon Generation Joseph Dominguez Executive Vice President, Government and Regulatory Affairs and Public Policy, Exelon James D. Firth Senior Vice President, Communications, Corporate Relations and Public...

  • Page 35
    Exelon 2014 Summary Annual Report Our Leadership 2015 Executive Committee Sunil Garg Senior Vice President and Chief Information and Innovation Officer, Exelon Joseph Nigro Executive Vice President, Exelon, and President and CEO, Constellation Denis P. O'Brien Senior Executive Vice President, ...

  • Page 36
    Exelon 2014 Summary Annual Report Our Leadership 2015 Board of Directors Richard W. Mies President and Chief Executive Officer, The Mies Group, Ltd.; Admiral (Retired), United States Navy William C. Richardson, Ph.D. President and Chief Executive Officer Emeritus, W. K. Kellogg Foundation John ...

  • Page 37
    Exelon 2014 Summary Annual Report Our Leadership 2015 Board of Directors Mayo A. Shattuck III Chairman Christopher M. Crane President and Chief Executive Officer, Exelon Anthony K. Anderson Retired Vice Chair and Midwest Area Managing Partner, Ernst & Young Ann C. Berzin Former Chairman and ...

  • Page 38
    ...2014. The 2014 Form 10-K Annual Report to the Securities and Exchange Commission was filed on Feb. 13, 2015. To obtain a copy without charge, write to Bruce G. Wilson, Senior Vice President, Deputy General Counsel and Corporate Secretary, Exelon Corporation, Post Office Box 805379, Chicago, Illinois...

  • Page 39
    Exelon Corporation P.O. Box 805398 Chicago, IL 60680-5398 exeloncorp.com © Exelon Corporation, 2015