Exelon 2015 Annual Report Download - page 129

Table of Contents
(b) Purchased power includes physical volumes of 2,489 GWh and 12,067 GWh in the Mid-Atlantic and 2,857 GWh and 12,165 GWh in New York as a result of the PPA with CENG
for the years ended December 31, 2014 and 2013, respectively. Since the integration date of April 1, 2014, CENG volumes are included in nuclear generation.
(c) Excludes physical proprietary trading volumes of 7,310 GWh, 10,571 GWh, and 8,762 GWh for the years ended December 31, 2015, 2014, and 2013, respectively.
(d) Includes affiliate sales to PECO and BGE in the Mid-Atlantic region and affiliate sales to ComEd in the Midwest region.

. The increase in revenue net of purchased power and fuel
expense in the Mid-Atlantic of $140 million was primarily due to the inclusion of CENG’s results on a fully consolidated basis for the full year in
2015, the benefit of lower cost to serve load (which includes the absence of higher procurement costs for replacement power due to extreme cold
weather in the first quarter of 2014), increased load volumes served, higher nuclear volumes, the cancellation of the DOE spent nuclear fuel
disposal fee, and favorability from portfolio management optimization activities, partially offset by lower capacity revenues, and lower generation
volumes due to the sale of generating assets.
. The increase in revenue net of purchased power and fuel
expense in the Mid-Atlantic of $161 million was primarily due to the consolidation of CENG, the cancellation of the DOE spent nuclear fuel
disposal fees in 2014, and favorable portfolio management optimization activities, partially offset by higher procurement costs for replacement
power, lower nuclear volumes (excluding CENG), lower capacity revenues, and lower realized energy prices related to executing Generation’s
ratable hedging strategy.

. The increase in revenue net of purchased power and fuel
expense in the Midwest of $293 million was primarily due to higher capacity revenues, increased load volumes served, the inclusion of Integrys’
results in 2015, the cancellation of the DOE spent nuclear fuel disposal fee in 2014, and favorability from portfolio management optimization
activities, partially offset by lower nuclear volumes.
. The increase in revenue net of purchased power and fuel
expense in the Midwest of $13 million was primarily due to higher capacity prices, higher nuclear volumes, and the cancellation of the DOE spent
nuclear fuel disposal fee, partially offset by lower realized energy prices related to executing Generation’s ratable hedging strategy.

. The increase in revenue net of purchased power and fuel
expense in New England of $110 million was primarily due to the benefit of lower cost to serve load, increased load volumes served, the inclusion
of Integrys’ results in 2015, and favorability from portfolio management optimization activities, partially offset by lower generation volumes due to
the sale of a generating asset.
. The increase in revenue net of purchased power and fuel
expense in New England of $166 million was primarily due to higher realized energy prices and favorable impacts from the restructuring of a fuel
supply contract, partially offset by lower generation volume.

 The $151 million increase in revenue net of purchased power
and fuel expense in New York was primarily due to the
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Source: BALTIMORE GAS & ELECTRIC CO, 10-K, February 10, 2016 Powered by Morningstar® Document Research℠
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