ComEd 2015 Annual Report Download - page 144

Table of Contents
and natural gas businesses, very cold weather in winter months are referred to as “favorable weather conditions” because these weather conditions
result in increased deliveries of electricity and natural gas. Conversely, mild weather reduces demand. Operating revenue net of purchased power
and fuel expense for the year ended December 31, 2015 was higher primarily due to the impact of favorable 2015 summer and first quarter winter
weather conditions, partially offset by the impact of unfavorable fourth quarter 2015 winter weather conditions in PECO’s service territory.
Operating revenue net of purchased power and fuel expense for the year ended December 31, 2014, was lower due to the impact of
unfavorable 2014 summer and fourth quarter weather conditions, partially offset by the impact of favorable first quarter 2014 winter weather
conditions in PECO’s service territory.
Heating and cooling degree days are quantitative indices that reflect the demand for energy needed to heat or cool a home or business.
Normal weather is determined based on historical average heating and cooling degree days for a 30-year period in PECO’s service territory. The
changes in heating and cooling degree days in PECO’s service territory for the years ended December 31, 2015 and December 31, 2014 compared
to the same periods in 2014 and 2013, respectively, and normal weather consisted of the following:
For the Years Ended
December 31, % Change
Heating and Cooling Degree-Days 2015 2014 Normal 2015 vs. 2014 2015 vs. Normal
Heating Degree-Days 4,245 4,749 4,613 (10.6)% (8.0)%
Cooling Degree-Days 1,720 1,311 1,301 31.2% 32.2%
For the Years Ended
December 31, % Change
Heating and Cooling Degree-Days 2014 2013 Normal 2014 vs. 2013 2014 vs. Normal
Heating Degree-Days 4,749 4,474 4,603 6.1% 3.2%
Cooling Degree-Days 1,311 1,411 1,301 (7.1)% 0.8%
The increase in Operating revenue net of purchased power and fuel expense related to delivery volume, exclusive of the effects of
weather, for the year ended December 31, 2015, primarily reflects the impact of moderate economic and customer growth partially offset by energy
efficiency initiatives on customer usages for gas and residential and small commercial and industrial electric classes. Additionally, the increase
represents a shift in the volume profile across classes from large commercial and industrial classes to residential and small commercial and
industrial classes for electric.
The increase in Operating revenue net of purchased power and fuel expense related to delivery volume, exclusive of the effects of weather,
for the year ended December 31, 2014, primarily reflects the impact of moderate economic and customer growth partially offset by energy
efficiency initiatives on customer usages for gas and residential electric and a shift in the volume profile across classes from commercial and
industrial classes to residential classes for electric.
The increase in electric operating revenue net of purchased power expense as a result of pricing for the year ended December 31,
2015 is primarily attributable to increased monthly customer demand in the commercial and industrial classes. The increase in natural gas
operating revenue net of fuel expense as a result of pricing for the year ended December 31, 2015, is primarily attributable to higher overall
effective rates due to decreased retail gas usage.
The decrease in natural gas operating revenue net of fuel expense as a result of pricing for the year ended December 31, 2014, is primarily
attributable to lower overall effective rates due to increased retail gas usage.
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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