FORM 8-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report December 11, 1995
PECO ENERGY COMPANY
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 1-1401 23-0970240
(State or other (Commission (IRS Employer
jurisdiction of file number) Identification
incorporation) Number)
230l Market Street, Philadelphia, Pennsylvania 19101
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including
area code: (215) 841-4000
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ITEM 5. OTHER EVENTS
The Company has been informed by Public Service Electric and Gas Company (PSE&G)
that, on December 11, 1995, PSE&G presented to the Nuclear Regulatory Commission
(NRC) details of its Restart Plan for the Salem Nuclear Generating Station
(Salem) at a public meeting held at the station's site in Lower Alloways Creek,
New Jersey. The Restart Plan is based on the detailed examination of the
equipment, procedural and personnel issues that have had an impact on Salem's
performance. The scope of work necessary to implement the Plan has been
identified for each of the station's two 1,100 megawatt (MW) units. Based on
this work scope, Unit No. 2's return to service is now scheduled for the third
quarter of 1996 while Unit No. 1's return remains scheduled for the second
quarter of the year.
The overall Restart Plan includes action plans for implementing improvements in
nine key areas: self assessment, corrective action, human performance,
operations, maintenance, work control, engineering, systems equipment
reliability, and training.
PSE&G now estimates that its share of 1996 operation and maintenance (O&M)
expenses associated with restart of the Salem units will be $22 million which is
about the same level of restart-associated O&M projected for 1995. In addition,
PSE&G now estimates that its share of restart-related capital costs in 1996 is
expected to be approximately $7 million.
PECO Energy and PSE&G each own 42.59% of Salem. As a result, based on PSE&G's
estimates, PECO Energy now estimates that its share of 1996 O&M expenses
associated with restart of the Salem units will be $22 million which is about
the same level of restart-associated O&M projected for 1995. In addition, PECO
Energy's share of restart-related capital costs in 1996 is expected to be
approximately $7 million.
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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.
PECO ENERGY COMPANY
\s\ J. B. Mitchell
Vice President - Finance
and Treasurer
December 11, 1995
