ComEd 2015 Annual Report Download - page 408

Table of Contents
Combined Notes to Consolidated Financial Statements—(Continued)
(Dollars in millions, except per share data unless otherwise noted)
Under the settlement agreement, Generation has received cumulative cash reimbursements for costs incurred as follows:
Total
Net
Cumulative cash reimbursements $945 $804
(a) Total after considering amounts due to co-owners of certain nuclear stations and to the former owner of Oyster Creek.
(b) Includes $53 million and $49 million, respectively, for amounts received since April 1, 2014, for costs incurred under the CENG DOE Settlement Agreements prior to the
consolidation of CENG.
As of December 31, 2015, and 2014, the amount of SNF storage costs for which reimbursement has been or will be requested from the DOE
under the DOE settlement agreements is as follows:
December 31, 2015 December 31, 2014
DOE receivable—current $ 76 $ 82
DOE receivable—noncurrent 14 7
Amounts owed to co-owners (5) (5)
(a) Recorded in Accounts receivable, other.
(b) Recorded in Deferred debits and other assets, other
(c) Non-CENG amounts owed to co-owners are recorded in Accounts receivable, other. CENG amounts owed to co-owners are recorded in Accounts payable. Represents amounts
owed to the co-owners of Peach Bottom, Quad Cities, and Nine Mile Point Unit 2 generating facilities.
The Standard Contracts with the DOE also required the payment to the DOE of a one-time fee applicable to nuclear generation through
April 6, 1983. The fee related to the former PECO units has been paid. Pursuant to the Standard Contracts, ComEd previously elected to defer
payment of the one-time fee of $277 million for its units (which are now part of Generation), with interest to the date of payment, until just prior to
the first delivery of SNF to the DOE. As of December 31, 2015, the unfunded SNF liability for the one-time fee with interest was $1,021 million.
Interest accrues at the 13-week Treasury Rate. The 13-week Treasury Rate in effect, for calculation of the interest accrual at December 31, 2015,
was 0.112%. The liabilities for SNF disposal costs, including the one-time fee, were transferred to Generation as part of Exelon’s 2001 corporate
restructuring. The outstanding one-time fee obligations for the Nine Mile Point, Ginna, Oyster Creek and TMI units remain with the former owners.
The Clinton and Calvert Cliffs units have no outstanding obligation. See Note 12—Fair Value of Financial Assets and Liabilities for additional
information.
Environmental Matters
General. The Registrants’ operations have in the past, and may in the future, require substantial expenditures in order to comply with
environmental laws. Additionally, under Federal and state environmental laws, the Registrants are generally liable for the costs of remediating
environmental contamination of property now or formerly owned by them and of property contaminated by hazardous substances generated by
them. The Registrants own or lease a number of real estate parcels, including parcels on which their operations or the operations of others may
have resulted in contamination by substances that are considered hazardous under environmental laws. In addition, the Registrants are currently
involved in a number of proceedings relating to sites where hazardous substances have been deposited and may be subject to additional
proceedings in the future.
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(a)
(b)
(a)
(b)
(a)(c)
Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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