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): July 1, 1999
Commission Registrant; State of Incorporation; IRS Employer
File Number Address; and Telephone Number Identification No.
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
On July 1, 1999, Unicom Corporation (the "Company") announced that
it expects to meet or exceed analyst earnings expectations of
$0.43 per common share for the second quarter of 1999. The 10
nuclear generating units of the Company's subsidiary, Commonwealth
Edison Company ("ComEd")posted an average capacity factor of 83
percent for the quarter, which has helped significantly to reduce
ComEd's purchased power costs. The Company further indicated that
it expects to meet or exceed earnings goals of $2.50 and $3.00 per
common share for the years 1999 and 2000, respectively, and expects
to achieve average annual earnings growth of eight percent to 10
percent thereafter through the year 2003. The earnings growth
expectation is influenced by various factors, including a planned
reduction in ComEd's operation and maintenance expenses to $1.9
billion by 2001, the planned reinvestment of $2.5 billion in cash
proceeds from the sale of the fossil plants at an average pre-tax
earnings rate of five percent in the years 2000 and 2001 and 8.3
percent in 2002 and beyond, the achievement of nuclear generation
capacity factors in excess of 80 percent in the years 2000 and
beyond, and the achievement of earnings per share of $0.20 from the
Unicom Enterprises Group by 2001.
The information contained in this report constitutes forward-
looking statements. Forward-looking statements are inherently
uncertain and subject to risks. Such statements should be viewed
with caution. Actual results or experience could differ
materially from the forward-looking statements as a result of
many factors. Please see the Current Report on Form 8-K filed
earlier today for a discussion of factors that could affect the
Company's ability to meet the above goals.
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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: July 1, 1999 By: John C. Bukovski
------------------------
John C. Bukovski
Senior Vice President
COMMONWEALTH EDISON COMPANY
(Registrant)
Date: July 1, 1999 By: John C. Bukovski
------------------------
John C. Bukovski
Senior Vice President
