Exelon 2007 Annual Report Download - page 5

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3
To our shareholders
2007 was a truly remarkable year. Exelon delivered the substantial increases
in both operating and GAAP earnings that the market expected – the latter
while bearing the costs of the Illinois settlement. We remain one of the
most profitable companies in the industry. Our operating performance
improved in both our generation and delivery businesses, led as always by
our world-class nuclear program.We successfully navigated a protracted
and painful transition to competition in Illinois. In my 24 years as a CEO,
I do not recall a better overall performance by a utility.
Through many challenges, we have protected and significantly increased
the value with which you have entrusted us. Some of that value already has
been returned to you in share repurchases and dividend increases. We
remain confident in our ability to protect and grow that value in the years
to come. We have the nation’s best portfolio of generation assets, a strong
record of financial discipline, and one of the most talented management
teams in the industry. We are absolutely committed to delivering reliable
and affordable service to our customers and superior value to you, our
shareholders – in good economic times and bad, in high price environments
and low, in favorable regulatory environments and unfavorable. For
customers and shareholders alike, Exelon provides sustainable value.