Exelon 2012 Annual Report Download

Download and view the complete annual report

Please find the complete 2012 Exelon annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 33

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33

2012 Summary Annual Report

Table of contents

  • Page 1
    2012 Summary Annual Report

  • Page 2
    Exelon 2012 Summary Annual Report Letter to Shareholders 2 Our Vision 6 Our Footprint 9 Our Companies 11 Our Leadership 26 Adjusted (non-GAAP) operating earnings: This report includes a discussion of adjusted (non-GAAP) operating earnings. For a reconciliation of adjusted (non-GAAP) ...

  • Page 3
    ... of Exelon and Constellation in March 2012 gives us the scale, platform, and markets to effectively capitalize on a market recovery. The merger was transformational, making Exelon the leading competitive energy company in the U.S., operating from a truly national footprint. We have generating assets...

  • Page 4
    ... to 2011 earnings due to the addition of Constellation and BGE to Exelon's financial results in March of 2012. However, the overall decrease in non-GAAP operating earnings reflects a year driven by challenging power prices and lower earned ROE at ComEd, only partially offset by post-merger synergies...

  • Page 5
    ... Despite substantial economic headwinds, our growth investments in 2012 have paid off. We added nearly 500 MW of new, clean generating capacity in 2012: 404 MW in new wind power projects, 31 MW in new solar at our Antelope Valley Solar Ranch project, and 63 MW in nuclear power uprates. We will add...

  • Page 6
    ... challenging pricing environment. Closing Exelon delivered value in 2012 in the face of a very challenging pricing environment. Those economics remain the principal challenge in 2013. But with a sound financial strategy, a healthy balance sheet, a sustainable dividend, opportunities to grow, and...

  • Page 7
    Exelon 2012 Summary Annual Report Our Vision and Values Pillars Performance Excellence Our commitment to excellence and to continuous improvement drives sustainable growth and builds shareholder value. From the safety, reliability, and efficiency of our operations, to the innovative solutions we ...

  • Page 8
    Exelon 2012 Summary Annual Report Our Vision and Values Vision Performance that drives progress Our ... the potential of energy. Safely. Reliably. Sustainably. We vigorously compete to give our customers greater choice and value, and drive innovations that help businesses function more effectively ...

  • Page 9
    Exelon 2012 Summary Annual Report Our Vision and Values Values We are dedicated to safety. We actively pursue excellence. We innovate to better serve our customers. e act with integrity and are accountable to our W communities and the environment. We succeed as an inclusive and diverse team....

  • Page 10
    ... one of the nation's cleanest and lowest-cost power generation fleets. Constellation provides energy products and services to approximately 100,000 business and public sector customers and approximately 1 million residential customers. Exelon's utilities deliver electricity and natural gas to more...

  • Page 11
    ... Framingham, 31 MW • Gas: Fore River (Combined Cycle), 688 MW • Oil: New Boston, 16 MW • Oil: West Medway, 119 MW PENNSYLVANIA • Oil: Schuylkill, 33 MW • Oil: Southwark, 52 MW • Oil: Chester, 39 MW • Oil: Eddystone, 760 MW, Oil/Gas; 60 MW • Hydro: Muddy Run, 1,070 MW • Hydro: Safe...

  • Page 12
    ... business. At PECO's Transmission Operations center in Philadelphia, operators keep close watch on the regional electric grid. PECO serves 1.6 million electric customers and 500,000 natural gas customers. ComEd's West Loop station provides Chicago substations with multiple sources of energy supply...

  • Page 13
    Exelon 2012 Summary Annual Report Our Companies Exelon Utilities by the Numbers 6.6 million customers 15,800 square miles of combined 1,144,000 natural gas service territory customers 13,660 miles of natural gas lines 143,500 miles of power lines 12

  • Page 14
    Exelon 2012 Summary Annual Report Our Companies ComEd Headquartered in Chicago, ComEd serves about 3.8 million customers in an 11,400 square mile service territory. In 2012, ComEd improved its storm restoration by 15 percent in major storms over the summer by adding more first responders and ...

  • Page 15
    Exelon 2012 Summary Annual Report Our Companies ComEd by the Numbers 11,400 square miles service territory 5,800 employees 3.8 million electric customers 23,753 MW all-time peak load 14

  • Page 16
    Exelon 2012 Summary Annual Report Our Companies BGE Headquartered in Baltimore, BGE is Maryland's oldest and largest utility, serving more than 1.2 million electric customers and 700,000 gas customers in an economically diverse, 2,300-square-mile area encompassing Baltimore City and all or part of...

  • Page 17
    Exelon 2012 Summary Annual Report Our Companies BGE by the Numbers 2,300 square miles 1.2 million electric customers service territory 700,000 gas customers 7,616 MW all-time peak load 3,400 employees 16

  • Page 18
    Exelon 2012 Summary Annual Report Our Companies PECO Headquartered in Philadelphia, PECO provides service to 1.6 million electric and 497,000 natural gas customers in southeastern Pennsylvania. In 2012, PECO endured Superstorm Sandy, the worst storm in the company's history, leaving half of its ...

  • Page 19
    Exelon 2012 Summary Annual Report Our Companies PECO by the Numbers 2,100 square miles 1.6 million electric customers service territory employees 2,400 500,000 gas customers 8,983 MW all-time peak load 18

  • Page 20
    Exelon 2012 Summary Annual Report Our Companies Constellation Headquartered in Baltimore, Constellation is Exelon's competitive retail and wholesale energy business. Constellation provides integrated energy solutions that help residential and business customers buy, manage and use energy, from ...

  • Page 21
    Exelon 2012 Summary Annual Report Our Companies Constellation by the Numbers of the Fortune 100 are Constellation clients 2/3 One million residential customers Presence More than business customers 150,000 in 47 states 20

  • Page 22
    ... capacity) natural gas, coal, hydro, oil, wind, solar and landfill gas. The merger expanded Exelon Nuclear's fleet to include a majority share of Constellation Energy Nuclear Group (CENG), which operates Calvert Cliffs in Maryland, and R.E. Ginna and Nine Mile Point in New York. CENG is a joint...

  • Page 23
    Exelon 2012 Summary Annual Report Our Companies • T hree Maryland coal facilities were divested to Raven Power Holdings as part of the merger settlement agreement. • E xelon Power built six new wind assets totaling more than 440 MW of new generation and began construction of a 230-MW ...

  • Page 24
    Exelon 2012 Summary Annual Report Our Companies Generation by the Numbers 164 MW solar 1,300 MW 60 MW landfill gas wind fossil natural gas coal oil 12,000 MW nuclear 19,165 MW 1,900 MW hydro 23

  • Page 25
    ... 7. 8. 9. BSC Operations Communications, Public Advocacy and Corporate Relations Legal Corporate Strategy Development Finance Government Affairs & Public Policy Human Resources Information Technology The green roof atop the PECO headquarters is just one example of how Exelon is reducing its carbon...

  • Page 26
    ...2012 Summary Annual Report Our Companies Business Services by the Numbers BSC reduced the number of its commercial buildings by 14.7% 105,827 employee volunteer hours managed by $27,677,198 in community grants overseen by Corporate Relations 30,395 Exelon - related monitored/managed Corporate...

  • Page 27
    ... 2012 Summary Annual Report Our Leadership Executive Committee Christopher M. Crane President and Chief Executive Officer, Exelon, and President, Exelon Generation Craig L. Adams President and Chief Executive Officer, PECO Amy E. Best Senior Vice President and Chief Human Resources Officer...

  • Page 28
    ... Dominguez Senior Vice President, Government and Regulatory Affairs and Public Policy, Exelon James D. Firth Senior Vice President, Communications, Public Advocacy and Corporate Relations Sunil Garg Senior Vice President and Chief Information and Innovation Officer, Exelon Ruth Ann M. Gillis...

  • Page 29
    ... Anne R. Pramaggiore President and Chief Executive Officer, ComEd M. Bridget Reidy Senior Vice President and Chief Supply Officer, Exelon Jonathan W. Thayer Executive Vice President and Chief Financial Officer, Exelon William A. Von Hoene, Jr. Senior Executive Vice President and Chief Strategy...

  • Page 30
    Exelon 2012 Summary Annual Report Our Leadership Board of Directors Mayo A. Shattuck III Chairman Christopher M. Crane President and Chief Executive Officer, Exelon, and President, Exelon Generation Anthony K. Anderson Retired Vice Chair and Midwest Area Managing Partner, Ernst & Young Ann C. ...

  • Page 31
    ... A. Diaz Partner, Dilworth Paxson LLP Sue L. Gin Chairman and Chief Executive Officer, Flying Food Group, LLC Paul L. Joskow, Ph.D., President, Alfred P. Sloan Foundation Robert J. Lawless Former Chairman and CEO, McCormick & Company Richard W. Mies President and Chief Executive Officer, The...

  • Page 32
    Exelon 2012 Summary Annual Report Our Leadership Board of Directors William C. Richardson, Ph.D. President and Chief Executive Officer Emeritus, W. K. Kellogg Foundation Thomas J. Ridge, Former Secretary, Department of Homeland Security; Former Governor of Pennsylvania John W. Rogers, Jr., ...

  • Page 33
    Exelon Corporation P.O. Box 805398 Chicago, IL 60680-5398 exeloncorp.com © Exelon Corporation, 2013