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


                                January 15, 2003
                                (Date of earliest
                                 event reported)





Commission File           Name of Registrant; State of Incorporation; Address of        IRS Employer
Number                    Principal Executive Offices; and Telephone Number             Identification Number
---------------------     ----------------------------------------------------------    ------------------------
                                                                                  
1-16169                   EXELON CORPORATION                                            23-2990190
                          (a Pennsylvania corporation)
                          10 South Dearborn Street - 37th Floor
                          P.O. Box 805379
                          Chicago, Illinois 60680-5379
                          (312) 394-7398
1-1839                    COMMONWEALTH EDISON COMPANY                                   36-0938600
                          (an Illinois corporation)
                          10 South Dearborn Street - 37th Floor
                          P.O. Box 805379
                          Chicago, Illinois 60680-5379
                          (312) 394-4321
1-1401                    PECO ENERGY COMPANY                                           23-0970240
                          (a Pennsylvania corporation)
                          P.O. Box 8699
                          2301 Market Street
                          Philadelphia, Pennsylvania 19101-8699
                          (215) 841-4000
333-85496                 EXELON GENERATION COMPANY, LLC                                23-3064219
                          (a Pennsylvania limited liability company)
                          300 Exelon Way
                          Kennett Square, Pennsylvania 19348
                          (610) 765-8200




Item 9. Regulation FD Disclosure

On January 15, 2002, John W. Rowe, Chairman and CEO, met with investors.  During
these meetings, Mr. Rowe confirmed:
o     Exelon's earnings guidance for 2002, which was previously  disclosed in an
      8-K dated October 21, 2002, of $4.65 to $4.80 per share, and
o     Exelon's earnings guidance for 2003, which was previously  disclosed in an
      8-K dated November 4, 2002, of $4.70 to $5.00 per share.

This  combined  Form  8-K is  being  filed  separately  by  Exelon  Corporation,
Commonwealth Edison Company,  PECO Energy Company and Exelon Generation Company,
LLC  (Registrants).  Information  contained  herein  relating to any  individual
registrant  has been filed by such  registrant on its own behalf.  No registrant
makes any representation as to information relating to any other registrant.

Except for the historical  information contained herein,  certain of the matters
discussed  in this  Report are  forward-looking  statements  that are subject to
risks and  uncertainties.  The factors that could cause actual results to differ
materially  from the  forward-looking  statements  made by a registrant  include
those  discussed  herein  as  well  as  those  listed  in  Note  8 of  Notes  to
Consolidated Financial Statements,  those discussed in "Management's  Discussion
and  Analysis of  Financial  Condition  and Results of  Operations--Outlook"  in
Exelon  Corporation's  2001 Annual Report,  those discussed in "Risk Factors" in
PECO Energy Company's  Registration  Statement on Form S-3, Reg. No.  333-99361,
those discussed in "Risk Factors" and  "Management's  Discussion and Analysis of
Financial  Condition and Results of  Operations" in Exelon  Generation  Company,
LLC's Registration Statement on Form S-4, Reg. No. 333-85496, those discussed in
"Risk Factors" in Commonwealth Edison Company's  Registration  Statement of Form
S-3,  Reg.  No.  333-99363  and other  factors  discussed  in  filings  with the
Securities and Exchange Commission by the Registrants. Readers are cautioned not
to place undue reliance on these forward-looking statements, which apply only as
of the date of this Report. None of the Registrants  undertake any obligation to
publicly  release any  revision  to its  forward-looking  statements  to reflect
events or circumstances after the date of this Report.




                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.




                                            EXELON CORPORATION
                                            COMMONWEALTH EDISON COMPANY
                                            PECO ENERGY COMPANY
                                            EXELON GENERATION COMPANY, LLC

                                            /S/  Robert S. Shapard
                                            ------------------------------------
                                            Robert S. Shapard
                                            Executive Vice President and Chief
                                            Financial Officer
                                            Exelon Corporation


January 15, 2003