UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 30, 2007
Date of Report (Date of earliest event reported)
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Exact Name of Registrant as Specified in Its Charter; State of Incorporation; |
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IRS Employer |
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Address of Principal Executive Offices; and Telephone Number |
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Identification Number |
1-16169
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EXELON CORPORATION
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23-2990190 |
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(a Pennsylvania corporation)
10 South Dearborn Street
P.O. Box 805379
Chicago, Illinois 60680-5379
(312) 394-7398 |
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333-85496
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EXELON GENERATION COMPANY, LLC
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23-3064219 |
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(a Pennsylvania limited liability company)
300 Exelon Way
Kennett Square, Pennsylvania 19348
(610) 765-5959 |
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1-1839
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COMMONWEALTH EDISON COMPANY
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36-0938600 |
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(an Illinois corporation)
440 South LaSalle Street
Chicago, Illinois 60605-1028
(312) 394-4321 |
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Section 8 — Other Events
Item 8.01 Other Events.
In the Current Report on Form 8-K filed on May 30, 2007, Exelon Corporation (Exelon) disclosed that
Floor Amendment No. 4 to Senate Bill 1592 was posted in the Illinois House of Representatives and
was assigned to the House Electric Utility Oversight Committee, which approved the amendment by a
vote of 5 to 4. The text of the amended bill is attached as Exhibit 99.1 to this Current Report on
Form 8-K.
As previously disclosed, on March 6, 2007, the Illinois House of Representatives approved
legislation, known as House Bill 1750, that, if enacted into law, would roll back the current
electricity rates of Commonwealth Edison Company (ComEd) and other Illinois utilities to rates that
were in effect on December 29, 2006, would provide for a refund, with interest, of the charges
collected from residential customers in excess of those rolled-back rates since January 2, 2007,
and would generally limit rate increases for the electric energy component of rates for all bundled
service customers until 2010. On May 30, 2007 the Illinois Senate Executive Committee voted to
approve House Bill 1750 by a vote of 7 yes, 3 no, and three members voting “present”. The full
Illinois Senate did not vote on the bill during the regular session. In order for the bill to
become effective immediately upon becoming law, it must now pass the Illinois Senate by a
supermajority of 60%. Otherwise, it can be amended to change the effective date to 2008 and be
approved by a simple majority, but in that case the Illinois House would also need to approve the
change to the bill. If the same version of the bill were approved by both chambers by the requisite
majority, the bill would then go to the Governor for signature. The Governor has previously
expressed support for rate freeze legislation. Exelon, ComEd and Exelon Generation Company, LLC
(Generation) (collectively, the Registrants) believe the proposed legislation is unconstitutional,
and if enacted, the Registrants would pursue all available legal remedies.
ComEd, Generation and other interested parties have been actively engaged in discussions with
Illinois legislative leaders to explore alternatives to rate freeze and other legislation that
would provide rate relief for Illinois electric customers, including financial assistance for
Illinois electric customers with unusually high electric bills and other customers in need of
financial assistance. ComEd and Generation are unable to predict the
outcome of the discussions of alternatives to
rate freeze and other legislation or the ultimate outcome of the legislative process or the
coverage or content of any legislation that may be adopted.
* * * * *
This
combined Form 8-K is being furnished separately by each of the Registrants. Information contained herein
relating to any individual registrant has been furnished by such registrant on its own behalf. No
registrant makes any representation as to information relating to any other registrant.
This Current Report includes forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, that are subject to risks and uncertainties. The factors
that could cause actual results to differ materially from these forward-looking statements include
those discussed herein as well as those discussed in (1) Exelon’s, Generation’s and ComEd’s 2006
Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and
Analysis of Financial Condition and Results of Operation and (c) ITEM 8, Financial Statements and
Supplementary Data: Note 18; (2) Exelon’s First Quarter 2007 Quarterly Report on Form 10-Q in (a)
Part II, Other Information, ITEM 1A. Risk Factors and (b) Part I, Financial Information, ITEM 1.
Financial Statements: Note 13; and (3) other factors discussed in filings with the SEC by Exelon,
Generation and ComEd. Readers are cautioned not to place undue reliance on these forward-looking
statements, which apply only as of the date of this Current Report. Exelon, Generation and ComEd do
not undertake any obligation to publicly release any revision to its forward-looking statements to
reflect events or circumstances after the date of this Current Report.