SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 9, 1995
Commission Registrant; State of Incorporation; IRS Employer
File Number Address; and Telephone Number Identification No.
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1-11375 UNICOM CORPORATION 36-3961038
(an Illinois corporation)
37th Floor, 10 South Dearborn Street
Post Office Box A-3005
Chicago, Illinois 60690-3005
312/394-7399
1-1839 COMMONWEALTH EDISON COMPANY 36-0938600
(an Illinois corporation)
37th Floor, 10 South Dearborn Street
Post Office Box 767
Chicago, Illinois 60690-0767
312/394-4321
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Item 5. Other Events
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Rate Proceeding.
On January 9, 1995, the Illinois Commerce Commission
("ICC") issued an order ("Order") in the proceedings relating to
Commonwealth Edison Company's ("ComEd") February 10, 1994 rate
increase request. The Order provides, among other things, for
(i) an increase in ComEd's total revenues of approximately $301.8
million (excluding add-on revenue taxes) or 5.2%, on an annual
basis, including a $303.2 million increase in base rates, (ii)
the continued collection of municipal franchise costs as an adder
to base rates until May 1, 1995, when such costs will be
collected prospectively on an individual municipality basis
through a rider, and (iii) the use of a rider, with annual review
proceedings, to pass on to ratepayers increases or decreases in
estimated costs associated with the decommissioning of ComEd's
nuclear generating units. The rates provided in the Order became
effective on January 14, 1995; however, they are being collected
subject to refund as a result of subsequent judicial action.
ComEd expects the Order to be appealed by the intervenors in the
rate proceeding.
In the Order, the ICC determined that Byron Unit 2 and
Braidwood Units 1 and 2, ComEd's most recently-completed nuclear
generating units, were 100% "used and useful" and that the
previously determined reasonable costs of such units, as
depreciated, should be included in full in ComEd's rate base.
The ICC also determined, however, that ComEd's annual nuclear
plant decommissioning cost collections from its ratepayers should
be reduced from the $127 million previously authorized in a March
8, 1991 ICC rate order to $112.7 million. The reduction resulted
from the ICC's decision to exclude from estimated costs subject
to collection both a contingency factor and site restoration
costs for demolition and disposal of non-radiological structures.
As noted above, the Order establishes a rider which will allow
annual adjustments to decommissioning cost collections outside of
the context of a traditional rate proceeding. Such rider is
intended to allow adjustments in decommissioning cost recoveries
from ratepayers as changes in cost estimates become specifically
identifiable. Under Illinois law, decommissioning cost
collections are required to be deposited in external trust funds.
For additional information regarding ComEd's rate
increase request and its nuclear plant decommissioning costs, see
Notes 3 and 1, respectively, of Notes to Financial Statements in
Unicom Corporation's and ComEd's Quarterly Report on Form 10-Q
for the quarterly period ended September 30, 1994.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrants have duly caused this report to be signed on
their behalf by the undersigned thereunto duly authorized.
UNICOM CORPORATION
(Registrant)
Date: January 19, 1995 By: David A. Scholz
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David A. Scholz
Secretary
COMMONWEALTH EDISON COMPANY
(Registrant)
Date: January 19, 1995 By: David A. Scholz
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David A. Scholz
Secretary
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