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File No. 1-1401
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM U-3A-2
STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION
UNDER RULE U-3A-2 FROM PROVISIONS OF THE
PUBLIC UTILITY HOLDING COMPANY ACT OF 1935
PECO Energy Company
(Name of Company)
<PAGE>2
PECO Energy Company
(Name of Company)
hereby files with the Securities and Exchange Commission, pursuant to Rule 2,
its statement claiming exemption as a holding company from the provisions of the
Public Utility Holding Company Act of 1935 and submits the following
information.
1. NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF CLAIMANT
AND EVERY SUBSIDIARY THEREOF OTHER THAN ANY EXEMPT WHOLESALE GENERATOR
(EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY OR INDIRECTLY
HOLDS AN INTEREST.
PECO Energy Company (PECO Energy or Claimant), is a corporation organized
under the laws of the Commonwealth of Pennsylvania.
Claimant supplies electric service in Philadelphia and in southeastern
Pennsylvania adjacent to Philadelphia, including Delaware and Chester
Counties, substantial parts of Bucks and Montgomery Counties and a small
part of York County, comprising an area of 2,340 square miles having a
population of about 3,700,000. It also supplies at wholesale part of the
requirements of a subsidiary operating in northern Maryland. Electric
energy is interchanged with other electric utilities operating in adjacent
territories.
Claimant supplies natural gas service in substantial portions of Delaware,
Chester, Montgomery and Bucks Counties, and in a small part of Lancaster
County in southeastern Pennsylvania near Philadelphia, comprising an area
of 1,475 square miles having a population of about 1,900,000.
Of the total electric and gas business done by Claimant and its
subsidiaries in 1994, the predominant portion was done directly by Claimant
as indicated in the following:
<TABLE>
<CAPTION>
Claimant after
eliminating Claimant and
inter-Company subsidiaries
transactions consolidated
<S> <C> <C>
Operating Revenue
Electric & Gas $4,021,330,000 $4,087,797,000
Electric Sales -
MKWH (Gross) 44,182,702 44,257,633
Electric Customers -
December 31 1,492,839 1,492,843
Gas Sales -
MCF (Natural Gas) 60,209,355 (1) 60,210,000 (1)
Gas Customers -
December 31 372,226 372,225
<FN>
(1) Claimant also transported 29,801,491 MCF of gas for its gas customers.
</FN>
</TABLE>
<PAGE>3
Following is a list of the subsidiary companies of Claimant, and of their States
of organization, together with a description of the location and nature of their
business:
PECO Energy Power Company - Incorporated in Pennsylvania
This company, a wholly owned subsidiary of Claimant and a registered
holding company, together with its wholly owned subsidiary, Susquehanna
Power Company, owns the Conowingo Hydroelectric Project (Conowingo
Project), which was constructed under a federal license dated February 20,
1926, issued by the Federal Power Commission under the Federal Water Power
Act of 1920. The original license expired in 1976 after its 50-year term
was completed. Subsequently, the Company was issued annual licenses pending
Federal Energy Regulatory Commission (FERC) action on the application for a
new license. The new license was issued August 14, 1980 and will expire
September 1, 2014. PECO Energy Power Company owns that portion of the
Conowingo Project located in Pennsylvania, and its portion of the
transmission line is leased to and operated by Claimant.
Susquehanna Power Company - Incorporated in Maryland
Owns that portion of the Conowingo Project located in Maryland. This
property is leased to and operated by The Susquehanna Electric Company, a
wholly owned subsidiary of Claimant.
The Proprietors of the Susquehanna Canal - Incorporated in Maryland
Inactive.
Susquehanna Electric Company - Incorporated in Maryland
Operates the Maryland portion of the Conowingo Project. It sells most of
the energy produced to Claimant and the balance to Conowingo Power Company.
Conowingo Power Company - Incorporated in Maryland
Supplies electric service to 36,810 customers in portions of Cecil and
Harford Counties in northern Maryland, in territory adjacent to Claimant's.
It is a wholly owned subsidiary of Claimant.
Eastern Pennsylvania Development Company (EPDC) -
Incorporated in Pennsylvania
Airport Business Center, 300 Stevens Drive, Lester, PA. The Company's sole
function is to act as a holding company for Adwin Equipment Company, Adwin
Realty Company, Adwin Investment Company and Energy Performance Services,
Inc.
Adwin Equipment Company (AEC) - Incorporated in Pennsylvania
Airport Business Center, 300 Stevens Drive, Lester, PA. This company is a
whollyowned subsidiary of EPDC and is primarily engaged in electrical
distribution equipment rental, and owns a 50% managing partnership interest
in a co-generation plant.
<PAGE>4
Adwin Realty Company (ARC) - Incorporated in Pennsylvania
Airport Business Center, 300 Stevens Drive, Lester PA. This company is a
whollyowned subsidiary of EPDC and is engaged in real estate development.
Adwin Investment Company (AIC) - Incorporated in Delaware
1105 N. Market Street, Wilmington, DE. This company is engaged in passive
investing in various financial instruments and real estate holdings.
Eastern Pennsylvania Exploration Company (EPEC) -
Incorporated in Pennsylvania
West Conshohocken Gas Facility, 300 Front Street, West Conshohocken, PA.
This wholly owned subsidiary of Claimant is a partner with one or more
subsidiaries of other utility companies in a joint venture originally
engaged in natural gas exploration and drilling. EPEC no longer
participates in new drilling and exploration programs. All gas production,
as well as oil and gas liquids are sold where they are produced. The area
of production is the Gulf Coast, both on shore and in state water, but
excluding federal waters.
Energy Performance Services, Inc. (EPS) -
Incorporated In Pennsylvania
Airport Business Center, 300 Stevens Drive, Lester PA. EPS is 96% owned by
EPDC and is engaged in providing engineering, construction and management
services to industrial, commercial and institutional customers, worldwide.
EPS has two wholly owned subsidiaries, Energy Performance Services
(EPS/Canada), Inc. and EPS CR s.r.o., a Czech Republic limited liability
company.
PECO Energy Capital L.P. (PECLP) -
Incorporated in Delaware
1013 Centre Road, Wilmington, DE.
PECLP exists for the sole purpose of issuing partner interests represented
by the Claimant's Series A Preferred Securities.
PECO Energy Capital Corp (PECC) -
Incorporated in Delaware
1013 Centre Road, Wilmington, DE.
PECC is the General Partner of PECLP.
<PAGE>5
2. A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF ITS
SUBSIDIARY PUBLIC UTILITY COMPANIES USED FOR THE GENERATION, TRANSMISSION,
AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE PRODUCTION,
TRANSMISSION, AND DISTRIBUTION OF NATURAL OR MANUFACTURED GAS, INDICATING
THE LOCATION OF PRINCIPAL GENERATING PLANTS, TRANSMISSION LINES, PRODUCING
FIELDS, GAS MANUFACTURING PLANTS, AND ELECTRIC AND GAS DISTRIBUTION
FACILITIES, INCLUDING ALL SUCH PROPERTIES WHICH ARE OUTSIDE THE STATE IN
WHICH CLAIMANT AND ITS SUBSIDIARIES ARE ORGANIZED AND ALL TRANSMISSION OR
PIPELINES WHICH DELIVER OR RECEIVE ELECTRIC ENERGY OR GAS AT THE BORDERS OF
SUCH STATE.
The properties of Claimant and PECO Energy Power Company are located within
Pennsylvania, except that the Claimant holds a 42.59 percent ownership interest
in certain generating facilities located in Salem, N.J. which presently consist
of 942 megawatts of nuclear and 18 megawatts of internal combustion generation
as of January 1995, and claimant leases regeneration facilities at the Allied
Chemical Corporation in Claymont, DE and the Essex Chemical Corporation in
Newark, NJ. The regeneration facilities are a necessary portion of the sulfur
dioxide removal systems operating at Claimant's Eddystone and Cromby generating
stations. Claimant is also joint operator of a reservoir located near
Phillipsburg, NJ. The properties of Claimant's other public utility subsidiaries
are located wholly within Maryland. The location of the principal electric
generating plants, electric and gas transmission and distribution facilities,
including all transmission or pipelines which deliver or receive electric energy
or gas at state borders, with the exception of the jointly owned Keystone and
Conemaugh minemouth electric generating stations located near Johnstown, PA, and
the Salem plant are located within Pennsylvania.
The following information, unless otherwise indicated, is as of December 31,
1994:
The electric facilities of Claimant and its subsidiaries with a total net summer
capacity of 8,956 net megawatts, include seventeen generating stations of which
2,811 megawatts are fossil-fired steam; 815 megawatts are internal combustion;
1,393 megawatts are hydroelectric; and 3,938 megawatts are nuclear. The
seventeen generating stations are interconnected through transmission lines,
substations and related facilities.
The electric facilities of Claimant also include 93,943 conductor miles of
transmission, distribution and street lighting lines serving 1,608,404 electric
meters installed on customers' premises. Additional electric generating capacity
is available to Claimant through the Pennsylvania-New Jersey-Maryland
Interconnection Association among the properties of Claimant, Pennsylvania Power
& Light Company, Public Service Electric and Gas Company, Baltimore Gas and
Electric Company, Pennsylvania Electric Company, Metropolitan Edison Company,
Jersey Central Power & Light Company, Potomac Electric Power Company, Atlantic
Electric Company and Delmarva Power & Light Company. The maximum peak load
(hourly demand) for the calendar year 1994, on the facilities of Claimant and
subsidiaries was 7,227 megawatts which occurred on July 8, 1994.
<PAGE>6
The electricity generating plants of Claimant and subsidiary companies at
December 31, 1994 are as follows:
<TABLE>
<CAPTION>
NET SUMMER
NAME OF PLANT LOCATION TYPE CAPACITY -
MEGAWATTS
<S> <C> <C> <C>
Chester Chester, PA on Internal 39.0
Delaware River Combustion
Cromby Phoenixville, PA on Steam and
Schuylkill River Internal
Combustion 347.7
Delaware Central Philadelphia Steam and
on Delaware River Internal
Combustion 306.7
Richmond Northeast Philadelphia Internal
on Delaware River Combustion 96.0
Schuylkill Central Philadelphia Steam and
on Schuylkill River Internal
Combustion 196.8
Southwark Southeast Philadelphia Internal
on Delaware River Combustion 52.0
Eddystone Eddystone, PA on Steam and
Delaware River Internal
Combustion 1,397.0
Peach Bottom
Atomic Power Near Delta, PA on
Station Susquehanna River Nuclear 886.0
Keystone Near Johnstown, PA Mine-mouth
Steam and
Internal
Combustion 359.3
Muddy Run 13 miles up-stream
from Conowingo Dam on Hydro-Pumped
the Susquehanna River Storage 880.0
Conemaugh Near Johnston, PA Mine-mouth and
Internal
Combustion 354.3
Moser Substation Moser Rd., Pottstown, Internal
PA Combustion 45.0
Falls Substation Falls Twp., Bucks Co., Internal
PA Combustion 45.0
Salem Generating Salem Co., NJ Nuclear and
Station Internal
Combustion 960.0
Croydon Bristol Twp., PA Internal
Combustion 369.0
Limerick Limerick Twp.,
Montgomery Co., PA Nuclear 2,110.0
-------
Total for Claimant's
Stations 8,443.8
PECO ENERGY POWER COMPANY
SUSQUEHANNA POWER COMPANY
Conowingo Near Conowingo, MD,
on Susquehanna River Hydroelectric 512.0
-------
Total for Claimant
and Subsidiaries 8,955.8
=======
</TABLE>
<PAGE>7
The following summary shows the relationship of the principal properties by
Claimant to those owned by subsidiaries,
<TABLE>
<CAPTION>
OWNED BY OWNED BY
ELECTRIC PROPERTIES CLAIMANT SUBSIDIARIES TOTAL
<S> <C> <C> <C>
Generating Capacity-MW 8,443.8 512.0 8,955.8
Substation Transformer
Capacity-KVA -------- 35,734,888 997,000 36,731,888
Transmission and
Distribution Lines -
Conductor Miles 89,698.3 4244.85 93,431.1
GAS PROPERTIES
Liquified Natural Gas
Storage Capacity (MCF) 1,200,000 -0- 1,200,000
Max. Daily Sendout
(MCF/Day) 200,000 -0- 200,000
Propane-Air
Storage Capacity
(Gallons) 1,980,000 -0- 1,980,000
Max. Daily Sendout
(MCF/Day) 30,000 -0- 30,000
Distribution Main
(Miles) 5,379 -0- 5,379
</TABLE>
In addition to the electric generating plants described above, Claimant owns
89,698 conductor miles of transmission and distribution lines including 772
conductor miles of 500,000 volts; 1,618 conductor miles of 220,000 volts; 458
conductor miles of 132,000 volts; 591 conductor miles of 66,000 volts; 49,179
conductor miles of 33,000, 13,000 and 4,000 volts; 37,065 conductor miles of
220-110 volts; and 16 conductor miles of street lighting line.
Claimant owns and operates 465 substations with a total installed capacity of
35,734,888 KVA in transformer equipment and 123,000 KW in 25 cycle frequency
converter equipment.
The capacities used in this statement are nameplate ratings, except where
limited by associated equipment or operating conditions, in which case the
limited capacity is used.
Claimant's transmission lines which deliver or receive electric energy at the
borders of Pennsylvania make five connections with Public Service Electric and
Gas Company (New Jersey) at the Pennsylvania-New Jersey line: two near New Hope,
Pennsylvania, one at Biles Island on the Delaware River near Morrisville,
Pennsylvania, one is near Bristol, Pennsylvania and one is on the Pennsylvania
Railroad Company bridge extending between Philadelphia, Pennsylvania and Camden,
New Jersey. Claimant's lines also connect with those of Delmarva Power & Light
Company at the Pennsylvania-Delaware line at Naamans, Pennsylvania, near
Claymont, Delaware. Connection is also made with the Atlantic
<PAGE>8
Electric Company transmission line at the Pennsylvania-New Jersey state line in
Chester, Pennsylvania. Two connections are made with the Baltimore Gas and
Electric Company transmission line at the Pennsylvania-Maryland state line, near
Delta, Pennsylvania. Connection is made with Conowingo Power Company, a
subsidiary of the Claimant, at the Pennsylvania-Maryland state line near
Pleasant Grove, Pennsylvania. Connection also is made with Susquehanna Power
Company, a subsidiary of the Claimant, at the Pennsylvania-Maryland state line
near Goat Hill, Pennsylvania by the transmission lines which the Claimant leases
from its subsidiary, PECO Energy Power Company. A line of PECO Energy Company
connects with a line of Susquehanna Power Company at the Pennsylvania-Maryland
state line near Slate Hill, Pennsylvania.
GAS PLANTS
Claimant owns and operates the following gate stations where natural gas is
received from suppliers:
<TABLE>
<CAPTION>
TRANS- PROPANE/
TEXAS EASTERN CONTINENTAL LNG AIR
STATION METER STATION METER STATION FACILITIES FACILITIES
<S> <C> <C> <C> <C>
Tilghman St., Chester * *
West Conshohocken * * * *
Ivyland *
Oreland *
Pottstown *
East Greenville *
Kennett Square *
Coatesville *
Parkesburg *
U. S. Steel-Dolington *
Morrisville *
Cromby-Phoenixville *
Lukens-Conshohocken *
Corson-Plymouth Meeting *
Planebrook *
Hatfield *
Merck-Worcester *
Upper Providence *
Eddystone *
</TABLE>
Claimant owns and operates a natural gas liquefaction and storage plant at
West Conshohocken, Pennsylvania, having the following characteristics:
Gross Liquefaction Capacity: 6600 MCF/Day (Net 6000 MCF/Day after
boiloff)
Design Sendout Capacity: 200,000 MCF/Day
LNG Tank Capacity: 1,200,000 MCF of Natural Gas
Claimant also owns and operates a propane air peak shaving facility at
Chester, Pennsylvania, having the following characteristics:
Design Capacity: 30,000 MCF/Day Propane - Air
On Site LPG Capacity: Twenty-two 90,000 gallon tanks
<PAGE>9
Claimant has contracts with Texas Eastern Transmission Corporation (TETCO),
Transcontinental Gas Pipe Line Corporation (Transco), and storage services under
Service Agreements and Tariffs on file with the FERC. Aggregate annual
entitlements are approximately 55 million dekatherms for supply and 18.7 million
dekatherms for storage.
<TABLE>
<CAPTION>
MAXIMUM MAXIMUM
SUPPLY EXPIRATION DAILY ANNUAL
<S> <C> <C> <C>
Direct Produce 4/94-3/01 199,319 dth(w) 55,443,185 dth
135,533 dth(s)
MAXIMUM
STORAGE EXPIRATION DAILY CAPACITY
CNB GSS Storage Service 3/31/06 34,663 dth 3,326,029 dth
Equitrans SS-3 Storage 3/31/02 12,495 1,306,250
Texas Eastern SS-1A 4/30/00 43,601 2,616,030
Texas Eastern SS-1B 4/30/00 10,381 726,670
Texas Eastern SS-1C 4/30/00 12,419 1,466,737
Transco GSS Storage 3/31/92* 54,508 2,794,365
Transco WSS Storage 3/31/98 43,382 3,687,492
Transco S-2 Storage Annual 31,142 2,800,347
MAXIMUM
TRANSPORTATION EXPIRATION DAILY USE
Equitrans STS 3/31/02 12,495 to SS-3 Storage
Texas Eastern FT-1 10/31/99 35,000 Firm Transport
Texas Eastern CDS 10/31/99 49,286 Firm Transport
Texas Eastern FTS-2 3/31/02 13,486 From SS-3
Storage
Texas Eastern FTS-7 4/15/00 24,170 From CNG GSS
Storage
Texas Eastern FTS-8 4/30/15 9,850 From CNG GSS
Storage
Transco FT 4/31/06 158,832 Firm Transport
<FN>
*Initial contract term expired continuing subject to service agreement term and
FERC Section 7 certification.
</FN>
</TABLE>
In addition to the pipeline services rendered under the above contracts,
Claimant also purchases short-term spot supplies on a best efforts basis from
various gas producers and gas marketing companies. During 1993, total natural
gas throughput from all sources, including transportation of customer-owned gas
delivered in the Commonwealth of Pennsylvania, was approximately 92.2 million
dekatherms.
Claimant purchased no gas from its subsidiary, EPEC, during 1994.
The maximum one-day sendout of Claimant for calendar year 1994 occurred on
January 19 and amounted to 617,961,000 cubic feet of gas.
<PAGE>10
PECO ENERGY POWER COMPANY AND SUSQUEHANNA POWER COMPANY
PECO Energy Power Company and its subsidiary, Susquehanna Power Company, own the
Conowingo Project, which they constructed under a federal license dated February
20, 1926, issued by the Federal Power Commission under the Federal Water Power
Act of 1920. The original license expired in 1976 after its 50-year term was
completed. A new license was issued August 14, 1980 and will expire September 1,
2014. This expiration date is concurrent with the license for the Claimant's
Muddy Run Pumped Storage Project. The common expiration date was based on FERC's
desire to provide for concurrent future relicensing of both projects since they
are contiguous and are coordinated in operation.
Susquehanna Power Company owns the dam, power plant and substations which are
located at Conowingo, Maryland, on the Susquehanna River about four miles above
tidewater, and also owns the portion of the pool and transmission lines in
Maryland. PECO Energy Power Company owns the portion of the pool and
transmission lines in Pennsylvania. These properties are operated under lease by
the affiliated company as described under Item 1.
The dam is of solid concrete masonry construction and is approximately 4,650
feet in length, including the powerhouse, headworks, regulating gates,
gate-controlled spillway and abutments. The power station has a total rated
installed generating capacity of 512,000 kilowatts consisting of seven original
hydroelectric generating units each rated at 36,000 kilowatts capacity, and four
additional units installed in 1964 each rated at 65,000 kilowatts capacity. The
total station capacity has been reduced to 410 MW in the summer season due to
the water releases required by FERC. The reservoir extends upstream about 15
miles over land on which licensee subsidiaries of the Claimant have flowage
rights where not owned in fee.
There are two transmission substations having a total rated capacity of 610,000
KVA. One, located on the roof of Conowingo Station, has a rated capacity of
560,000 KVA and steps up the energy generated at Conowingo Station from 13,200
volts to 230,000 volts for transmission to the electric lines of the Claimant.
The other is a 13,200-34,000 volt substation with a rated capacity of 50,000
KVA, from which energy is supplied to Conowingo Power Company, an affiliate, and
to the Claimant for local distribution.
There are 21 circuit miles of 230,000 volt transmission lines and ten circuit
miles of 34,000 volt transmission lines. The 230,000 volt transmission lines
consist of two single circuit lines supported on steel towers, of which 14
circuit miles, from the Conowingo plant to the Maryland-Pennsylvania state line,
near Goat Hill, Pennsylvania, are owned by Susquehanna Power Company, and the
balance of seven circuit miles from the Maryland-Pennsylvania state line to a
point at the boundary between West Nottingham and East Nottingham Townships in
Pennsylvania are owned by PECO Energy Power Company. The 34,000 volt
transmission lines are owned by Susquehanna Power Company.
<PAGE>11
CONOWINGO POWER COMPANY
Conowingo Power Company owns and operates 45 substations with a total capacity
of 387,000 KVA. It receives its energy requirements from the Claimant and
Claimant's subsidiary, Susquehanna Electric Company.
Conowingo Power Company's lines connect with Delmarva Power & Light Company's
lines at three locations at the Maryland-Delaware state line - one near Elkton,
Maryland in the vicinity of Greys Hill, one near Bethel, Maryland and one in the
vicinity of Elkton, Maryland. The lines of Conowingo Power Company and of PECO
Energy Company are inter-connected at the Maryland-Pennsylvania state line in
four places - one near Rising Sun, one near Calvert, one near Cardiff, and one
near Appleton, all in Maryland.
3. THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR WITH RESPECT TO
CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES:
(A) NUMBER OF KWH OF ELECTRIC ENERGY SOLD (AT RETAIL OR WHOLESALE), AND
MCF OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL.
<TABLE>
<CAPTION>
KWH SOLD (AT RETAIL OR WHOLESALE)
ELECTRIC SALES INTERCOMPANY OTHER TOTAL
<S> <C> <C> <C>
PECO Energy Co. 671,501,221 43,586,131,396(a) 44,257,632,617
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. 1,954,107,434 - 1,954,107,434
Conowingo Power
Co. 127,373 783,916,412 784,043,785
<FN>
Note: (a) - Reflects gross deliveries including 768,281,000
kilowatthours accounted for under the purchased and
interchange power account.
</FN>
</TABLE>
GAS SALES MCF OF GAS DISTRIBUTED AT RETAIL
PECO Energy Co. 60,209,000
(B)- NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR MANUFACTURED
GAS DISTRIBUTED AT RETAIL OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY
IS ORGANIZED.
None
(C)- NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR MANUFACTURED
GAS SOLD AT WHOLESALE OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY IS
ORGANIZED, OR AT THE STATE LINE.
<PAGE>12
<TABLE>
<CAPTION>
KWH SOLD (AT RETAIL OR WHOLESALE)
ELECTRIC SALES INTERCOMPANY OTHER TOTAL
<S> <C> <C> <C>
PECO Energy Co. 671,501,221 29,348,000(a) 700,849,221
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. 1,795,465,571 - 1,795,465,571
Conowingo Power
Co. 113,998 - 113,998
<FN>
Note:(a)- PECO Energy Company also had a delivery of 1,168,706,000 kilowatthours
of energy to the Pennsylvania-New Jersey-Maryland Interconnection,
some portion of which was sold at state lines, but the amount so sold
cannot be determined. This energy is accounted for under the purchased
and interchange power account.
</FN>
</TABLE>
GAS SALES MCF OF GAS DISTRIBUTED AT WHOLESALE
PECO Energy Co. None
(D) NUMBER OF KWH OF ELECTRIC ENERGY AND MCF OF NATURAL OR MANUFACTURED
GAS PURCHASED OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY IS
ORGANIZED, OR AT THE STATE LINE.
KWH PURCHASED AT STATE LINE
<TABLE>
<CAPTION>
ELECTRIC
PURCHASES INTERCOMPANY OTHER TOTAL
<S> <C> <C> <C>
PECO Energy Co. 1,795,579,569 1,489,002,000(a) 3,284,581,569
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. - - -
Conowingo Power
Co. 671,615,219 - 671,615,219
<FN>
Note:(a)- PECO Energy Company also received 3,490,731,000 kilowatthours of
energy from the Pennsylvania-New Jersey-Maryland Interconnection, a
portion of which was purchased at state lines, but the amount
purchased cannot be determined. This energy is accounted for under the
purchased and interchange power account.
</FN>
</TABLE>
GAS PURCHASED MMCF OF GAS PURCHASED AT STATE LINE
PECO Energy Co. 60,209,000
<PAGE>13
4. THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH RESPECT TO CLAIMANT
AND EACH INTEREST IT HOLDS DIRECTLY OR INDIRECTLY IN AN EWG OR A FOREIGN
UTILITY COMPANY, STATING MONETARY AMOUNTS IN UNITED STATES DOLLARS:
(A) NAME, LOCATION, BUSINESS ADDRESS AND DESCRIPTION OF THE FACILITIES
USED BY THE EWG OR FOREIGN UTILITY COMPANY FOR THE GENERATION, TRANSMISSION AND
DISTRIBUTION OF ELECTRIC ENERGY FOR SALE OR FOR THE DISTRIBUTION AT RETAIL OF
NATURAL OR MANUFACTURED GAS.
None
(B) NAME OF EACH SYSTEM COMPANY THAT HOLDS AN INTEREST IN SUCH EWG OR
FOREIGN UTILITY COMPANY; AND DESCRIPTION OF THE INTEREST HELD.
None
(C) TYPE AND AMOUNT OF CAPITAL INVESTED, DIRECTLY OR INDIRECTLY, BY
THE HOLDING COMPANY CLAIMING EXEMPTION; ANY DIRECT OR INDIRECT GUARANTEE OF THE
SECURITY OF THE EWG OR FOREIGN UTILITY COMPANY BY THE HOLDING COMPANY CLAIMING
EXEMPTION; AND ANY DEBT OR OTHER FINANCIAL OBLIGATION FOR WHICH THERE IS
RECOURSE, DIRECTLY OR INDIRECTLY, TO THE HOLDING COMPANY CLAIMING EXEMPTION OR
ANOTHER SYSTEM COMPANY, OTHER THAN THE EWG OR FOREIGN UTILITY COMPANY.
None
(D) CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY COMPANY
DURING THE REPORTING PERIOD.
None
(E) IDENTIFY ANY SERVICE, SALES OR CONSTRUCTION CONTRACT(S) BETWEEN
THE EWG OR FOREIGN UTILITY COMPANY AND A SYSTEM COMPANY, AND DESCRIBE THE
SERVICES TO BE RENDERED OR GOODS SOLD AND FEES OR REVENUES UNDER SUCH
AGREEMENT(S).
None
<PAGE>14
EXHIBITS
Exhibit A - Consolidating statement of income and surplus of Claimant and its
subsidiary companies for the calendar year 1994, together with a
consolidating balance sheet of Claimant and its subsidiary
companies as of the close of such calendar year.
Exhibit B - Financial Data Schedule.
Exhibit C - Not Applicable.
*****************************************************************
<PAGE>15
SIGNATURES
The above-named Claimant has caused this statement to be duly executed on its
behalf by its authorized officer on this 28th day of February, 1995.
PECO Energy Company
2301 Market Street
Philadelphia, PA 19103
/s/ J. Barry Mitchell
----------------------------------
Vice President - Finance
and Treasurer
CORPORATE SEAL
Attest:
/s/ K. K. Dodd
- -----------------------------
Corporate Secretary
Name, title and address of officer to whom notices and correspondence concerning
this statement should be addressed:
J. Barry Mitchell Vice President - Finance and Treasurer
- -------------------------------------------------------------------------------
(Name) (Title)
PECO Energy Company
2301 Market Street, P.O. Box 8699, Philadelphia, PA 19101
----------------------------------------------------------------
(Mailing Address)
<TABLE> <S> <C>
<ARTICLE> OPUR3
<CIK> 0000078100
<NAME> PECO ENERGY COMPANY
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> $15,092,759,000
<TOTAL-OPERATING-REVENUES> $4,040,632,000
<NET-INCOME> $426,713,000
</TABLE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Statement of Income 1 of 32
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Consolidated Combined
Totals Eliminations Totals
<S> <C> <C> <C>
Operating Revenues
Electric $3,624,797 $88,710 $3,713,507
Gas 415,835 415,835
Non-Utility Subsidiaries 18,523 18,523
---------- ------- ----------
Total Operating Rev. 4,059,155 88,710 4,147,865
---------- ------- ----------
Operating Expenses
Fuel and Energy
Interchange 703,590 71,925 775,515
Other Operating 1,214,469 16,785 1,231,254
Maintenance 330,497 330,497
Depreciation 446,392 446,392
Income Taxes 232,306 232,306
Other Taxes 312,760 312,760
---------- ------- ----------
Total Operating
Expenses 3,240,014 88,710 3,328,724
---------- ------- ----------
Operating Income 819,141 0 819,141
---------- ------- ----------
Other Income and Deductions
Allowance for Other
Funds Used During
Construction 10,180 10,180
Equity in Subsidiary
Companies (7,121) (7,121)
Income Taxes (15,291) (15,291)
Other, Net 37,200 10,801 48,001
---------- ------- ----------
Total Other Income
and Deductions 32,089 3,680 35,769
---------- ------- ----------
Income Before Interest
Charges 851,230 3,680 854,910
---------- ------- ----------
Interest Charges
Long-Term Debt 390,949 390,949
Short-Term Debt 36,987 10,801 47,788
Dividends on Preferred
Securities of Subsidiary 8,570 8,570
Allowance for Borrowed
Funds Used During
Construction (11,989) (11,989)
---------- ------- ----------
Net Interest Charges 424,517 10,801 435,318
---------- ------- ----------
Net Income $ 426,713 ($ 7,121) $ 419,592
========== ======= ==========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Statement of Income 2 of 32
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO
PECO Energy Susquehanna
Energy Power Power
Company Company Company
<S> <C> <C> <C>
Operating Revenues
Electric $3,593,563 $1,030 $ 14,684
Gas 415,835
Non-Utility Subsidiaries
---------- ------- ----------
Total Operating Rev. 4,009,398 1,030 14,684
---------- ------- ----------
Operating Expenses
Fuel and Energy
Interchange 717,969
Other Operating 1,183,040 27 37
Maintenance 320,961
Depreciation 437,620 45 1,544
Income Taxes 228,084 43 3,496
Other Taxes 305,031 366 1,951
---------- ------- ----------
Total Operating
Expenses 3,192,705 481 7,028
---------- ------- ----------
Operating Income 816,693 549 7,656
---------- ------- ----------
Other Income and Deductions
Allowance for Other
Funds Used During
Construction 10,022 133
Equity in Subsidiary
Companies (1,103) 7,850
Income Taxes (14,743) (40)
Other, Net 37,883 1 (8)
---------- ------ -----------
Total Other Income
and Deductions 32,059 7,851 85
---------- ------ -----------
Income Before Interest
Charges 848,752 8,400 7,741
---------- ------ -----------
Interest Charges
Long-Term Debt 387,245 34
Short-Term Debt 38,031 108 44
Dividends on Preferred
Securities of Subsidiary 8,570
Allowance for Borrowed
Funds Used During
Construction (11,807) (153)
---------- ------- -----------
Net Interest Charges 422,039 142 (109)
---------- ------- -----------
Net Income $ 426,713 $8,258 $ 7,850
========== ======= ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Statement of Income 3 of 32
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO
Conowingo Susquehanna Energy
Power Electric Capital
Company Company Corporation
<S> <C> <C> <C>
Operating Revenues
Electric $ 78,411 $25,819 $
Gas
Non-Utility Subsidiaries
---------- ------- ----------
Total Operating Rev. 78,411 25,819 0
---------- ------- ----------
Operating Expenses
Fuel and Energy
Interchange 57,546
Other Operating 5,055 20,571 6
Maintenance 2,266 4,486
Depreciation 2,892
Income Taxes 2,389 21
Other Taxes 3,600 741
---------- ------- ----------
Total Operating
Expenses 73,748 25,819 6
---------- ------- ----------
Operating Income 4,663 0 (6)
---------- ------- ----------
Other Income and Deductions
Allowance for Other
Funds Used During
Construction 25
Equity in Subsidiary
Companies (5)
Income Taxes (73) (14) (421)
Other, Net 155 40 1,201
---------- ------- ----------
Total Other Income
and Deductions 107 26 775
---------- ------- ----------
Income Before Interest
Charges 4,770 26 769
---------- ------- ----------
Interest Charges
Long-Term Debt
Short-Term Debt 5 4 761
Dividends on Preferred
Securities of Subsidiary
Allowance for Borrowed
Funds Used During
Construction (29)
---------- ------- ----------
Net Interest Charges (24) 4 761
---------- ------- ----------
Net Income $4,794 $ 22 $ 8
========== ======= ==========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Statement of Income 4 of 32
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Peco Energy Eastern
Capital Pennsylvania Adwin
Limited Development Investment
Partnership Company Company
<S> <C> <C> <C>
Operating Revenues
Electric $ $ $
Gas
Non-Utility Subsidiaries 47 212
---------- ------- ----------
Total Operating Rev. 0 47 212
---------- ------- ----------
Operating Expenses
Fuel and Energy
Interchange
Other Operating 5 2 72
Maintenance
Depreciation
Income Taxes 19 35
Other Taxes
---------- ------- ----------
Total Operating
Expenses 5 21 107
---------- ------- ----------
Operating Income (5) 26 105
---------- ------- ----------
Other Income and Deductions
Allowance for Other
Funds Used During
Construction
Equity in Subsidiary
Companies (13,863)
Income Taxes
Other, Net 8,835
---------- ------- ----------
Total Other Income
and Deductions 8,835 (13,863) 0
---------- ------- ----------
Income Before Interest
Charges 8,830 (13,837) 105
---------- ------- ----------
Interest Charges
Long-Term Debt
Short-Term Debt 8,835
Allowance for Borrowed
Funds Used During
Construction
---------- ------- ----------
Net Interest Charges 8,835 0 0
---------- ------- ----------
Net Income $ (5) ($13,837) $ 105
========== ======= ==========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Statement of Income 5 of 32
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Energy
Adwin Adwin Performance
Realty Equipment Services
Company Company Inc.
<S> <C> <C> <C>
Operating Revenues
Electric $ $ $
Gas
Non-Utility Subsidiaries 10,362 1,513 6,246
---------- ------- ----------
Total Operating Rev. 10,362 1,513 6,246
---------- ------- ----------
Operating Expenses
Fuel and Energy
Interchange
Other Operating 15,866 564 5,715
Maintenance 1,366 1,418
Depreciation 1,907 15 2,162
Income Taxes (619) 441 (1,481)
Other Taxes 1,065
---------- ------- ----------
Total Operating
Expenses 19,585 1,020 7,814
---------- ------- ----------
Operating Income (9,223) 493 (1,568)
---------- ------- ----------
Other Income and Deductions
Allowance for Other
Funds Used During
Construction
Equity in Subsidiary
Companies
Income Taxes
Other, Net
---------- ------- ----------
Total Other Income
and Deductions 0 0 0
---------- ------- ----------
Income Before Interest
Charges (9,223) 493 (1,568)
---------- ------- ----------
Interest Charges
Long-Term Debt 3,193 477
Short-Term Debt
Dividends on Preferred
Securities of Subsidiary
Allowance for Borrowed
Funds Used During
Construction
---------- ------- ----------
Net Interest Charges 3,193 0 477
---------- ------- ----------
Net Income ($12,416) $ 493 ($ 2,045)
========== ======= ==========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Statement of Income 6 of 32
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
Eastern
Pennsylvania
Exploration
Company
Operating Revenues
Electric $
Gas
Non-Utility Subsidiaries 143
----------
Total Operating Rev. 143
----------
Operating Expenses
Fuel and Energy
Interchange
Other Operating 294
Maintenance
Depreciation 207
Income Taxes (122)
Other Taxes 6
----------
Total Operating
Expenses 385
----------
Operating Income (242)
----------
Other Income and Deductions
Allowance for Other
Funds Used During
Construction
Equity in Subsidiary
Companies
Income Taxes
Other, Net (106)
----------
Total Other Income
and Deductions (106)
----------
Income Before Interest
Charges (348)
----------
Interest Charges
Long-Term Debt
Short-Term Debt
Dividends on Preferred
Securities of Subsidiary
Allowance for Borrowed
Funds Used During
Construction
----------
Net Interest Charges 0
----------
Net Income ($ 348)
==========
<PAGE>
Exhibit A
7 of 32
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME ELIMINATIONS
TWELVE MONTHS ENDED DECEMBER 31, 1994
(THOUSANDS OF DOLLARS)
ELIMINATION NO. 1
Operating Revenues $88,710
Operating Expenses $88,710
For eliminating intercompany
transactions with respect to
sales of energy and
rentals, as follows:
Operating Operating
Revenues Expenses
The Susquehanna Power Company $14,684
Rental of generating and trans-
mission facilities to The
Susquehanna Electric Company 14,684
PECO Energy Company 46,538
Sales of electric energy to
Conowingo Power Company 46,538
Susquehanna Electric Company 8,804
Sales of electric energy to
Conowingo Power Company 8,804
Susquehanna Electric Company 16,571
Sales of electric energy to
PECO Energy Company 16,571
PECO Energy Power Company 806
Rental of transmission facilities
to PECO Energy Company 806
Conowingo Power Company 1,296
Rental of transmission facilities
to PECO Energy Company 1,296
Conowingo Power Company 11
Sales of electric energy to
PECO Energy Company 11
------- -------
TOTAL $88,710 $88,710
======= =======
<PAGE>
Exhibit A
8 of 32
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING STATEMENT OF INCOME ELIMINATIONS
TWELVE MONTHS ENDED DECEMBER 31, 1994
(Thousands of Dollars)
<TABLE>
<S> <C> <C>
ELIMINATION NO. 2
Other Income $ 3,680
Interest Charges $10,801
Equity in Earnings of
Subsidiary Companies (7,121)
</TABLE>
<TABLE>
<CAPTION>
For eliminating
intercompany items in
connection with interest on notes and
subsidiary earnings as follows:
Equity in Earnings
Other Interest of Subsidiary
Income Charges Companies
<S> <C> <C> <C>
PECO Energy Company $ 765
Interest from Susquehanna
Electric Company $ 4
Interest from PECO Energy
Capital Corporation 761
PECO Energy Capital Corporation 1,201
Interest from PECO Energy Capital
Limited Partnership 265
Interest from PECO Energy Company 936
PECO Energy Capital Limited 8,835
Partnership
Interest from PECO Energy Company 8,835
PECO Energy Company (1,103)
Equity in Earnings of
Subsidiary Companies
PECO Energy Power Co. $ 8,258
Conowingo Power Co. 4,794
Susquehanna Electric Co. 22
PECO Energy Capital Corporation 8
Eastern Pennsylvania Develop-
ment Co. (13,837)
Eastern Pennsylvania Explora-
tion Co. (348)
PECO Energy Capital Corporation (5)
Equity in Earnings of Subsidiary
Company
PECO Energy Capital Limited
Partnership (5)
PECO Energy Power Company 7,850
Equity in Earnings of Subsidiary
Company
Susquehanna Power Co. 7,850
Eastern Pennsylvania Development
Company (13,863)
Equity in Earnings of Subsidiary
Companies
Adwin Investment Company 105
Adwin Realty Company (12,416)
Adwin Equipment Company 493
Energy Performance Services
Incorporated (2,045)
------ ------- -------
$3,680 $10,801 ($7,121)
====== ======= =======
</TABLE>
<PAGE>
Exhibit A
9 of 32
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Consolidated Combined
Totals Eliminations Totals
<S> <C> <C> <C>
Balance at January 1, 1994 $ 773,727 $ $ 773,727
Additions:
Net Income for twelve months
ended December 31, 1994
(excluding Equity in
Earnings of Subsidiary
Companies) 426,713 426,713
Dividends Received from
Subsidiary Companies 18,977 18,977
---------- ------- ----------
Total Additions 426,713 18,977 445,690
---------- ------- ----------
Deductions:
Expenses in Connection
with Issuance of
Preferred Stock 11,662 11,662
Cash Dividend Declared
Preferred Stock 35,706 35,706
Common Stock 342,177 18,977 361,154
Issuance of Stock
Long-Term Incentive Plan 388 388
---------- ------- ----------
Total Deductions 389,933 18,977 408,910
---------- ------- ----------
Balance at December 31, 1994 $ 810,507 $ 0 $ 810,507
========== ======= ==========
</TABLE>
<PAGE>
Exhibit A
10 of 32
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO
PECO Energy Susquehanna
Energy Power Power
Company Company Company
<S> <C> <C> <C>
Balance at January 1, 1994 $ 728,343 $ 884 $ 6,536
Additions:
Net Income for twelve months
ended December 31, 1994
(excluding Equity in
Earnings of Subsidiary
Companies) 427,816 408 7,850
Dividends Received from
Subsidiary Companies 8,588 7,791
---------- ------- ----------
Total Additions 436,404 8,199 7,850
---------- ------- ----------
Deductions:
Expenses in Connection
with Issuance of
Preferred Stock 11,662
Cash Dividend Declared
Preferred Stock 35,706
Common Stock 342,177 8,207 7,791
Issuance of Stock
Long-Term Incentive Plan 388
---------- ------- ----------
Total Deductions 389,933 8,207 7,791
---------- ------- ----------
Balance at December 31, 1994 $ 774,814 $ 876 $ 6,595
========== ======= ==========
</TABLE>
<PAGE>
Exhibit A
11 of 32
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO
Conowingo Susquehanna Energy
Power Electric Capital
Company Company Corporation
<S> <C> <C> <C>
Balance at January 1, 1994 $ 56,294 $ (110) $
Additions:
Net Income for twelve months
ended December 31, 1994
(excluding Equity in
Earnings of Subsidiary
Companies) 4,794 22 13
Dividends Received from
Subsidiary Companies
---------- ------- ----------
Total Additions 4,794 22 13
---------- ------- ----------
Deductions:
Expenses in Connection
with Issuance of
Preferred Stock
Cash Dividend Declared
Preferred Stock
Common Stock 381
Issuance of Stock
Long-Term Incentive Plan
---------- ------- ----------
Total Deductions 381
---------- ------- ----------
Balance at December 31, 1994 $ 61,088 $ (88) $ (368)
========== ======= ==========
</TABLE>
<PAGE>
Exhibit A
12 of 32
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO Energy Eastern
Capital Pennsylvania Adwin
Limited Development Investment
Partnership Company Company
<S> <C> <C> <C>
Balance at January 1, 1994 $ $ 448 $ (78)
Additions:
Net Income for twelve months
ended December 31, 1994
(excluding Equity in
Earnings of Subsidiary
Companies) (5) 26 105
Dividends Received from
Subsidiary Companies 2,598
---------- ------- ----------
Total Additions (5) 2,624 105
---------- ------- ----------
Deductions:
Expenses in Connection
with Issuance of
Preferred Stock
Cash Dividend Declared
Preferred Stock
Common Stock
Issuance of Stock
Long-Term Incentive Plan
---------- ------- ----------
Total Deductions
---------- ------- ----------
Balance at December 31, 1994 $ (5) $ 3,072 $ 27
========== ======= ==========
</TABLE>
<PAGE>
Exhibit A
13 of 32
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Energy
Adwin Adwin Performance
Realty Equipment Services
Company Company Inc.
<S> <C> <C> <C>
Balance at January 1, 1994 $ 1,737 ($3,958) $
Additions:
Net Income for twelve months
ended December 31, 1994
(excluding Equity in
Earnings of Subsidiary
Companies) (12,416) 493 (2,045)
Dividends Received from
Subsidiary Companies
---------- ------- ----------
Total Additions (12,416) 493 (2,045)
---------- ------- ----------
Deductions:
Expenses in Connection
with Issuance of
Preferred Stock
Cash Dividend Declared
Preferred Stock
Common Stock 35 2,403 160
Issuance of Stock
Long-Term Incentive Plan
---------- ------- ----------
Total Deductions 35 2,403 160
---------- ------- ----------
Balance at December 31, 1994 $ (10,714) $(5,868) $ (2,205)
========== ======= ==========
</TABLE>
<PAGE>
Exhibit A
14 of 32
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1994
(Thousands of Dollars)
Eastern
Pennsylvania
Exploration
Company
Balance at January 1, 1994 $ (16,369)
Additions:
Net Income for twelve months
ended December 31, 1994
(excluding Equity in
Earnings of Subsidiary
Companies) (348)
Dividends Received from
Subsidiary Companies
----------
Total Additions (348)
----------
Deductions:
Expenses in Connection
with Issuance of
Preferred Stock
Cash Dividend Declared
Preferred Stock
Common Stock
Issuance of Stock
Long-Term Incentive Plan
----------
Total Deductions 0
----------
Balance at December 31, 1994 $ (16,717)
==========
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 15 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Consolidated Combined
Totals Eliminations Totals
<S> <C> <C> <C>
Assets
Utility Plant, at Original
Cost
Electric $13,283,888 $ $13,283,888
Gas 895,946 895,946
Common 324,309 324,309
----------- ----------- -----------
14,504,143 0 14,504,143
Less: Accumulated Provision
for Depreciation 4,269,100 4,269,100
----------- ----------- -----------
10,235,043 0 10,235,043
Nuclear Fuel, Net 184,161 184,161
Construction Work in
Progress 472,512 472,512
Leased Property, Net 174,565 174,565
----------- ----------- -----------
Net Utility Plant 11,066,281 0 11,066,281
----------- ----------- -----------
Current Assets
Cash and Temporary
Cash Investment 51,966 51,966
Accounts Receivable, Net
Customers 97,193 97,193
Other 56,577 262,371 318,948
Inventories, at Average Cost
Fossil Fuel 72,732 72,732
Materials and Supplies 118,230 118,230
Deferred Income Taxes 13,189 13,189
Other 58,450 58,450
----------- ----------- -----------
Total Current Assets 468,337 262,371 730,708
----------- ----------- -----------
Deferred Debits and Other Assets
Recoverable Deferred
Income Taxes 2,138,079 2,138,079
Deferred Limerick Costs 413,885 413,885
Deferred Non-Pension Post-
retirement Benefit Costs 261,912 261,912
Investments 220,969 220,969
Investments in Subsidiary
Companies 0 584,449 584,449
Loss on Reacquired Debt 320,879 320,879
Other 264,268 (36) 264,232
----------- ----------- -----------
Total Deferred Debits
and Other Assets 3,619,992 584,413 4,204,405
----------- ----------- -----------
TOTAL $15,154,610 $ 846,784 $16,001,394
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 16 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO
PECO Energy Susquehanna
Energy Power Power
Company Company Company
<S> <C> <C> <C>
Assets
Utility Plant, at Original
Cost
Electric $13,045,227 $ 6,103 $ 117,879
Gas 895,946
Common 234,769
----------- ----------- -----------
14,175,942 6,103 117,879
Less: Accumulated Provision
for Drpreciation 4,167,848 553 39,213
----------- ----------- -----------
10,008,094 5,550 78,666
Nuclear Fuel, Net 184,161
Construction Work in
Progress 467,441 3,798
Leased Property, Net 174,565
----------- ----------- -----------
Net Utility Plant 10,834,261 5,550 82,464
----------- ----------- -----------
Current Assets
Cash and Temporary
Cash Investment 43,975 144 47
Accounts Receivable, Net
Customers 89,651
Other 55,703 (285) 1,953
Inventories, at Average Cost
Fossil Fuel 72,732
Material and Supplies 117,505
Deferred Income Taxes 12,220
Other 53,107 30 1,388
----------- ----------- -----------
Total Current Assets 444,893 (111) 3,388
----------- ----------- -----------
Deferred Debits and Other Assets
Recoverable Deferred
Income Taxes 2,121,859 119 9,534
Deferred Limerick Costs 413,885
Deferred Non-Pension Post-
retirement Benefits Costs 260,652
Investments 193,438 385 1,008
Investments in Subsidiary
Companies 453,401 75,843
Loss on Reacquired Debt 320,879
Other 236,478 1 27
----------- ----------- -----------
Total Deferred Debits
and Other Assets 4,000,592 76,348 10,569
----------- ----------- -----------
TOTAL $15,279,746 $ 81,787 $ 96,421
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 17 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO
Conowingo Susquehanna Energy
Power Electric Capital
Company Company Corporation
<S> <C> <C> <C>
Assets
Utility Plant, at Original
Cost
Electric $ 114,678 $ 1 $
Gas
Common
----------- ----------- -----------
114,678 1 0
Less: Accumulated Provision
for Depreciation 34,962
----------- ----------- -----------
79,716 1 0
Nuclear Fuel, Net
Construction Work in
Progress 1,044 229
Leased Property, Net
----------- ----------- -----------
Net Utility Plant 80,760 230 0
----------- ----------- -----------
Current Assets
Cash and Temporary
Cash Investment 2,778 (22) 48
Accounts Receivable, Net
Customers 7,234 103
Other 498 3,453 22,809
Inventories, at Average Cost
Fossil Fuel
Material and Supplies 187 538
Deferred Income Taxes (199) (19)
Other 3,188 355
----------- ----------- -----------
Total Current Assets 13,686 4,408 22,857
----------- ----------- -----------
Deferred Debits and Other Assets
Recoverable Deferred
Income Taxes 6,754 (187)
Deferred Limerick Costs
Deferred Non-Pension Post-
retirement Benefit Costs 630 630
Investments 180
Investments in Subsidiary
Companies 6,843
Loss on Reacquired Debt
Other 27,003 (236)
----------- ----------- -----------
Total Deferred Debits
and Other Assets 34,567 207 6,843
----------- ----------- -----------
TOTAL $ 129,013 $ 4,845 $ 29,700
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 18 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO Energy Eastern
Capital Pennsylvania Adwin
Limited Development Investment
Partnership Company Company
<S> <C> <C> <C>
Assets
Utility Plant, at Original
Cost
Electric $ $ $
Gas
Common
----------- ----------- -----------
0 0 0
Less: Accumulated Provision
for Depreciation
----------- ----------- -----------
0 0 0
Nuclear Fuel, Net
Construction Work in
Progress
Leased Property, Net
----------- ----------- -----------
Net Utility Plant 0 0 0
----------- ----------- -----------
Current Assets
Cash and Temporary
Cash Investment 2 6
Accounts Receivable, Net
Customers
Other 228,093 1 51
Inventories, at Average Cost
Fossil Fuel
Material and Supplies
Deferred Income Taxes 1 97
Other
----------- ----------- -----------
Total Current Assets 228,093 4 154
----------- ----------- -----------
Deferred Debits and Other Assets
Recoverable Deferred
Income Taxes
Deferred Limerick Costs
Deferred Non-Pension Post-
retirement Benefit Costs
Investments 506 3,383
Investments in Subsidiary
Companies 48,362
Loss on Reacquired Debt
Other
----------- ----------- -----------
Total Deferred Debits
and Other Assets 0 48,868 3,383
----------- ----------- -----------
TOTAL $ 228,093 $ 48,872 $ 3,537
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 19 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Energy
Adwin Adwin Performance
Realty Equipment Services
Company Company Incorporated
<S> <C> <C> <C>
Assets
Utility Plant, at Original
Cost
Electric $ $ $
Gas
Common 62,953 407 6,855
----------- ----------- -----------
62,953 407 6,855
Less: Accumulated Provision
for Depreciation 5,268 38 2,064
----------- ----------- -----------
57,685 369 4,791
Nuclear Fuel, Net
Construction Work in
Progress
Leased Property, Net
----------- ----------- -----------
Net Utility Plant 57,685 369 4,791
----------- ----------- -----------
Current Assets
Cash and Temporary
Cash Investment 2,263 1,120 1,118
Accounts Receivable, Net
Customers
Other 1,623 1,758 3,290
Inventories, at Average Cost
Fossil Fuel
Material and Supplies
Deferred Income Taxes 1,089
Other 319 20 36
----------- ----------- -----------
Total Current Assets 4,205 2,898 5,533
----------- ----------- -----------
Deferred Debits and Other Assets
Recoverable Deferred
Income Taxes
Deferred Limerick Costs
Deferred Non-Pension Post-
retirement Benefit Costs
Investments 10,505 1,382 10,182
Investments in Subsidiary
Companies
Loss on Reacquired Debt
Other 894 65
----------- ----------- -----------
Total Deferred Debits
and Other Assets 11,399 1,382 10,247
----------- ----------- -----------
TOTAL $ 73,289 $ 4,649 $ 20,571
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 20 of 32
December 31, 1994
(Thousands of Dollars)
Eastern
Pennsylvania
Exploration
Company
Assets
Utility Plant, at Original
Cost
Electric $
Gas
Common 19,325
-----------
19,325
Less: Accumulated Provision
for Depreciation 19,154
-----------
171
Nuclear Fuel, Net
Construction Work in
Progress
Leased Property, Net
-----------
Net Utility Plant 171
-----------
Current Assets
Cash and Temporary
Cash Investment 487
Accounts Receivable, Net
Customers 205
Other 1
Inventories, at Average Cost
Fossil Fuel
Material and Supplies
Deferred Income Taxes
Other 7
-----------
Total Current Assets 700
-----------
Deferred Debits and Other Assets
Recoverable Deferred
Income Taxes
Deferred Limerick Costs
Deferred Non-Pension Post-
retirement Benefit Costs
Investments
Investments in Subsidiary
Companies
Loss on Reacquired Debt
Other
-----------
Total Deferred Debits
and Other Assets 0
-----------
TOTAL $ 871
===========
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 21 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Consolidated Combined
Totals Eliminations Totals
<S> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 3,490,728 $84,219 $ 3,574,947
Other Paid-In Capital 1,271 255,397 256,668
Retained Earnings 810,507 23,523 834,030
----------- ----------- -----------
4,302,506 363,139 4,665,645
Preferred and Preference Stock
Without Mandatory
Redemption 277,472 221,250 498,722
With Mandatory Redemption 92,700 92,700
Minority Interest in Preferred
Securities of Subsidiaries 221,250 221,250
Long-Term Debt 4,816,779 228,093 5,044,872
Advances from Subsidiary
Companies 22,869 22,869
----------- ----------- -----------
Total Capitalization 9,710,707 835,351 10,546,058
----------- ----------- -----------
Current Liabilities
Notes Payable, Bank 11,499 11,499
Long-Term Debt Due Within
One Year 222,578 222,578
Capital Lease Obligations
Due Within One Year 60,476 60,476
Accounts Payable 312,996 11,433 324,429
Taxes Accrued 87,659 87,659
Deferred Energy Costs 15,486 15,486
Interest Accrued 93,159 93,159
Dividends Payable 15,096 15,096
Other 85,728 85,728
----------- ----------- -----------
Total Current Liabilities 904,677 11,433 916,110
----------- ----------- -----------
Deferred Credits and Other
Liabilities
Capital Lease Obligations 114,089 114,089
Deferred Income Taxes 3,229,475 3,229,475
Unamortized Investment
Tax Credits 374,100 374,100
Pension Obligation for Early
Retirement Plan 238,250 238,250
Non-Pension Postretirement
Benefits Obligation 354,458 354,458
Other 228,854 228,854
----------- ----------- -----------
Total Deferred Credits
and Other Liabilities 4,539,226 0 4,539,226
----------- ----------- -----------
TOTAL $15,154,610 $ 846,784 $16,001,394
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 22 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO
PECO Energy Susquehanna
Energy Power Power
Company Company Company
<S> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 3,490,728 $ 24,600 $ 47,048
Other Paid-In Capital 1,271 36,500 22,200
Retained Earnings 810,507 7,471 6,595
----------- ----------- -----------
4,302,506 68,571 75,843
Preferred and Preference Stock
Without Mandatory
Redemption 277,472
With Mandatory Redemption 92,700
Minority Interest in Preferred
Securities of Subsidiaries 221,250
Long-Term Debt 5,013,724
Advances from Subsidiary
Companies 22,809
----------- ----------- -----------
Total Capitalization 9,930,461 68,571 75,843
----------- ----------- -----------
Current Liabilities
Notes Payable, Bank 7,500 2,350 1,649
Long-Term Debt Due Within
One Year 191,463 9,750
Capital Lease Obligations
Due Within One Year 60,476
Accounts Payable 312,767 328 (139)
Taxes Accrued 80,645 404 2,738
Deferred Energy Costs 15,221
Interest Accrued 93,008 151 3
Dividends Payable 15,096
Other 85,112 9
----------- ----------- -----------
Total Current Liabilities 861,288 12,992 4,251
----------- ----------- -----------
Deferred Credits and Other
Liabilities
Capital Lease Obligations 114,089
Deferred Income Taxes 3,186,889 154 15,363
Unamortized Investment
Tax Credits 372,067 963
Pension Obligation for Early
Retirement Plan 234,502
Non-Pension Postretirement
Benefits Obligation 353,198
Other 227,252 70 1
----------- ----------- -----------
Total Deferred Credits
and Other Liabilities 4,487,997 224 16,327
----------- ----------- -----------
TOTAL $15,279,746 $ 81,787 $ 96,421
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 23 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO
Conowingo Susquehanna Energy
Power Electric Capital
Company Company Corporation
<S> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 12,555 $ 10 $
Other Paid-In Capital 19,100 29,652
Retained Earnings 61,088 (88) (373)
----------- ----------- -----------
92,743 (78) 29,279
Preferred and Preference Stock
Without Mandatory
Redemption
With Mandatory Redemption
Minority Interest in Preferred
Securities of Subsidiaries
Long-Term Debt
Advances from Subsidiary
Companies 60
----------- ----------- -----------
Total Capitalization 92,743 (18) 29,279
----------- ----------- -----------
Current Liabilities
Notes Payable, Bank
Long-Term Debt Due Within
One Year
Capital Lease Obligations
Due Within One Year
Accounts Payable 4,414 2,894
Taxes Accrued 3,045 (68) 421
Deferred Energy Costs 265
Interest Accrued (3)
Dividends Payable
Other 36 492
----------- ----------- -----------
Total Current Liabilities 7,757 3,318 421
----------- ----------- -----------
Deferred Credits and Other
Liabilities
Capital Lease Obligations
Deferred Income Taxes 23,899 (390)
Unamortized Investment
Tax Credits 1,070
Pension Obligation for Early
Retirement Plan 2,442 1,306
Non-Pension Postretirement
Benefits Obligation 630 630
Other 472 (1)
----------- ----------- -----------
Total Deferred Credits
and Other Liabilities 28,513 1,545 0
----------- ----------- -----------
TOTAL $ 129,013 $ 4,845 $ 29,700
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 24 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
PECO Energy Eastern
Capital Pennsylvania Adwin
Limited Development Investment
Partnership Company Company
<S> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ $ 1 $ 1
Other Paid-In Capital 6,848 57,985 3,500
Retained Earnings (5) (15,688) 27
----------- ----------- -----------
6,843 42,298 3,528
Preferred and Preference Stock
Without Mandatory
Redemption 221,250
With Mandatory Redemption
Minority Interest in Preferred
Securities of Subsidiaries
Long-Term Debt 6,550
Advances from Subsidiary
Companies
----------- ----------- -----------
Total Capitalization 228,093 48,848 3,528
----------- ----------- -----------
Current Liabilities
Notes Payable, Bank
Long-Term Debt Due Within
One Year
Capital Lease Obligations
Due Within One Year
Accounts Payable 5 2
Taxes Accrued 19 7
Deferred Energy Costs
Interest Accrued
Dividends Payable
Other
----------- ----------- -----------
Total Current Liabilities 0 24 9
----------- ----------- -----------
Deferred Credits and Other
Liabilities
Capital Lease Obligations
Deferred Income Taxes
Unamortized Investment
Tax Credits
Pension Obligation for Early
Retirement Plan
Non-Pension Postretirement
Benefits Obligation
Other
----------- ----------- -----------
Total Deferred Credits
and Other Liabilities 0 0 0
----------- ----------- -----------
TOTAL $ 228,093 $ 48,872 $ 3,537
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 25 of 32
December 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Energy
Adwin Adwin Performance
Realty Equipment Services
Company Company Incorporated
<S> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 1 $ 1 $ 1
Other Paid-In Capital 40,029 9,450 14,139
Retained Earnings (10,714) (5,868) (2,205)
----------- ----------- -----------
29,316 3,583 11,935
Preferred and Preference Stock
Without Mandatory
Redemption
With Mandatory Redemption
Minority Interest in Preferred
Securities of Subsidiaries
Long-Term Debt 19,937 4,661
Advances from Subsidiary
Companies
----------- ----------- -----------
Total Capitalization 49,253 3,583 16,596
----------- ----------- -----------
Current Liabilities
Notes Payable, Bank
Long-Term Debt Due Within
One Year 20,500 865
Capital Lease Obligations
Due Within One Year
Accounts Payable 2,313 451 961
Taxes Accrued 520
Deferred Energy Costs
Interest Accrued
Dividends Payable
Other 79
----------- ----------- -----------
Total Current Liabilities 22,892 971 1,826
----------- ----------- -----------
Deferred Credits and Other
Liabilities
Capital Lease Obligations
Deferred Income Taxes 336 3 1,989
Unamortized Investment
Tax Credits
Pension Obligation for Early
Retirement Plan
Non-Pension Postretirement
Benefits Obligation
Other 808 92 160
----------- ----------- -----------
Total Deferred Credits
and Other Liabilities 1,144 95 2,149
----------- ----------- -----------
TOTAL $ 73,289 $ 4,649 $ 20,571
=========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies Exhibit A
Consolidating Balance Sheet 26 of 32
December 31, 1994
(Thousands of Dollars)
Eastern
Pennsylvania
Exploration
Company
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 1
Other Paid-In Capital 15,994
Retained Earnings (16,717)
-----------
(722)
Preferred and Preference Stock
Without Mandatory
Redemption
With Mandatory Redemption
Minority Interest in Preferred
Securities of Subsidiaries
Long-Term Debt
Advances from Subsidiary
Companies
-----------
Total Capitalization (722)
-----------
Current Liabilities
Notes Payable, Bank
Long-Term Debt Due Within
One Year
Capital Lease Obligations
Due Within One Year
Accounts Payable 433
Taxes Accrued (72)
Deferred Energy Costs
Interest Accrued
Dividends Payable
Other
-----------
Total Current Liabilities 361
-----------
Deferred Credits and Other
Liabilities
Capital Lease Obligations
Deferred Income Taxes 1,232
Unamortized Investment
Tax Credits
Pension Obligation for Early
Retirement Plan
Other
-----------
Total Deferred Credits
and Other Liabilities 1,232
-----------
TOTAL $ 871
===========
<PAGE>
Exhibit A
27 of 32
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES
SCHEDULE OF CAPITAL STOCK, DECEMBER 31, 1994
<TABLE>
<CAPTION>
NUMBER OF SHARES AMOUNT
AUTHORIZED OUTSTANDING (IN THOUSANDS)
<S> <C> <C> <C>
PECO Energy Company
Cumulative Preferred Stock -
Without Par (NOTE)
$7.96 Series 1,400,000 1,400,000 140,000
$7.48 Series 500,000 500,000 50,000
$6.12 Series 927,000 927,000 92,700
$4.68 Series 150,000 150,000 15,000
$4.4 Series 274,720 274,720 27,472
$4.3 Series 150,000 150,000 15,000
$3.8 Series 300,000 300,000 30,000
Unclassified 11,298,280
----------- ----------- ----------
Total Preferred Stock 15,000,000 3,701,720 370,172
Common Stock no par 500,000,000 221,608,984 3,490,728
----------- ----------- ----------
Total Capital Stock $3,860,900
</TABLE>
NOTE: Redeemable, at the option of the Company, at the following dollar
amounts per share, plus accrued dividends:
$4.68 Series - $104.00 $4.3 Series - $102.00
$4.4 Series - $112.50 $3.8 Series - $106.00
$7.96 Series - $100.00 beginning October 1, 1997
$7.48 Series - $103.74 beginning April 1, 2003
<PAGE>
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES Exhibit A
SCHEDULE OF LONG-TERM DEBT, DECEMBER 31, 1994 28 of 32A
<TABLE>
<CAPTION>
DUE WITHIN ONE
YEAR INCLUDED
IN LONG-TERM
DEBT
(Amount in Thousands)
<S> <C> <C>
PECO Energy Company:
First and Refunding Mortgage Bonds:
6-1/8% Series due 1997 $ 75,000 ---
5-3/8% Series due 1998 225,000 ---
7-1/2% Series due 1999 250,000 ---
9-1/4% Series due 1999 75,000 ---
10 % Series due 2000 30,069 ---
5-5/8% Series due 2001 250,000 ---
7-3/8% Series due 2001 80,000 ---
8 % Series due 2002 200,000 ---
7-1/8% Series due 2002 200,000 ---
7-1/2% Series due 2002 100,000 ---
6-1/2% Series due 2003 200,000 ---
6-5/8% Series due 2003 250,000 ---
6-3/8% Series due 2005 75,000 ---
10-1/4% Series due 2007 52,813 4,063
8.875% Series due 2016 34,000 ---
10 % Series due 2019 71,000 ---
9-7/8% Series due 2019 40,281 ---
10-1/2% Series due 2020 58,150 ---
7-3/8% Series due 2021 90,000 ---
7.60 % Series due 2021 27,030 ---
6.70 % Series due 2021 160,560 ---
6-5/8% Series due 2022 29,540 ---
8-1/4% Series due 2022 250,000 ---
8-5/8% Series due 2022 125,000 ---
8-3/4% Series due 2022 150,000 ---
7-1/8% Series due 2023 200,000 ---
7-3/4% Series due 2023 100,000 ---
7-3/4% Series due 2023 250,000 ---
7-1/4% Series due 2024 225,000 ---
Floating Rate Delaware County 50,000 ---
Floating Rate Delaware County 50,000 ---
Floating Rate Delaware County 50,000 ---
Floating Rate Salem County 4,200 ---
---------- --------
4,027,643 4,063
Medium-Term Notes 134,200 12,400
Notes Payable - Banks 692,000 175,000
Pollution Control Notes 161,465 ---
Unamortized Premium on
Long-Term Debt 11 ---
Unamortized Discount on
Long-Term Debt (38,225) ---
--------
Total PECO Energy Company $4,977,094 $191,463
========
PECO Energy Power Company - a subsidiary:
Sinking Fund Debentures:
4-1/2% Series due 1995 $ 9,750 $ 9,750
Unamortized Discount on
Long-Term Debt --- ---
---------- --------
Total PECO Energy Power Co. $ 9,750 $ 9,750
========== ========
</TABLE>
<PAGE>
Exhibit A
29 of 32
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES
NOTE TO FINANCIAL STATEMENTS
(Thousands of Dollars)
1. Utility Plant in the balance sheet consists of the following:
COMPANY CONSOLIDATED
Plant at Original Cost
Electric $13,045,227 $13,283,888
Gas 895,946 895,946
Common, Used in All Services 234,769 324,309
----------- -----------
$14,175,942 $14,504,143
=========== ===========
<PAGE>
Exhibit A
30 of 32
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET ELIMINATIONS
DECEMBER 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Elimination No. 1
<S> <C> <C>
Capital Stock - Subsidiary Companies, Consolidated $84,219
Investments in Capital Stock of Subsidiary
Companies, Consolidated $84,219
</TABLE>
<TABLE>
<CAPTION>
For eliminating investments of PECO Energy Company and Subsidiary
Companies, consolidated, in Capital Stock of Subsidiary Companies, as follows:
Stated Value Investment of
of Capital Stock Owning Company
<S> <C> <C>
Susquehanna Power Company $47,048
PECO Energy Power Company 24,600 $47,048
Conowingo Power Company 12,555
Susquehanna Electric Company 10
PECO Energy Capital Limited Partnership 0
PECO Energy Capital Corporation 0 0
Adwin Investment Company 1
Adwin Realty Company 1
Adwin Equipment Company 1
Energy Performance Services Incorporated 1
Eastern Pennsylvania Development Company 1 4
Eastern Pennsylvania Exploration Company 1
PECO Energy Company 37,167
--------- ---------
$84,219 $84,219
========= =========
Elimination No. 2
Paid-In Capital - Subsidiary Companies,
Consolidated $255,397
Investments in Paid-In Capital of
Subsidiary Companies, Consolidated $255,397
For eliminating investments of PECO Energy
Company and Subsidiary Companies,
consolidated, in Paid-In Capital of
Subsidiary Companies as follows:
Paid-In Investment of
Capital Owning Company
Susquehanna Power Company $22,200
PECO Energy Power Company 36,500 $22,200
Conowingo Power Company 19,100
PECO Energy Capital Limited Partnership 6,848
PECO Energy Capital Corporation 29,652 6,848
Adwin Investment Company 3,500
Adwin Realty Company 40,029
Adwin Equipment Company 9,450
Energy Performance Services Incorporated 14,139
Eastern Pennsylvania Development Company 57,985 67,118
Eastern Pennsylvania Exploration Company 15,994
PECO Energy Company 159,231
--------- ---------
$255,397 $255,397
========= =========
</TABLE>
<PAGE>
Exhibit A
31 of 32
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET ELIMINATIONS
DECEMBER 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Elimination No. 3
<S> <C> <C>
Retained Earnings - Undistributed
Subsidiary Earnings, $23,523
Consolidated Investments in
Retained Earnings of
Subsidiary Companies, Consolidated $23,523
</TABLE>
<TABLE>
<CAPTION>
For eliminating investments of PECO Energy Company and Subsidiary Companies,
consolidated, in Retained Earnings of Subsidiary Companies, as follows:
Retained Investment of
Earnings Owning Company
<S> <C> <C>
Susquehanna Power Company $6,595
PECO Energy Power Company 7,471 $6,595
Conowingo Power Company 61,088
Susquehanna Electric Company (88)
PECO Energy Capital Limited Partnership (5)
PECO Energy Capital Corporation (373) (5)
Adwin Investment Company 27
Adwin Realty Company (10,714)
Adwin Equipment Company (5,868)
Energy Performance Services Incorporated (2,205)
Eastern Pennsylvania Development Company (15,688) (18,760)
Eastern Pennsylvania Exploration Company (16,717)
PECO Energy Company 0 35,693
--------- ----------
$23,523 $23,523
========= ==========
Elimination No. 4
Preferred Securities - Subsidiary Companies
Consolidated $221,250
Investments in Preferred Securities of
Subsidiary Companies, Consolidated $221,250
For eliminating investments of PECO Energy
Company and Subsidiary Companies,
consolidated, in Preferred Securities of
Subsidiary Companies as follows:
Investment of
Preferred Secur. Owning Company
PECO Energy Capital Limited Partnership $ 221,250
PECO Energy Company $ 221,250
------------ ------------
$ 221,250 $ 221,250
============ ============
</TABLE>
<PAGE>
Exhibit A
32 of 32
PECO ENERGY COMPANY AND SUBSIDIARY COMPANIES
CONSOLIDATING BALANCE SHEET ELIMINATIONS
DECEMBER 31, 1994
(Thousands of Dollars)
<TABLE>
<CAPTION>
Elimination No. 5
<S> <C> <C>
Long-Term Debt - Advances from Subsidiary
Companies, Consolidated $22,869
Long-Term Debt - Debentures from Subsidiary
Companies, Consolidated $228,093
Accounts Receivable - Associated Companies,
Consolidated $250,902
Investments in Indebtedness of Subsidiary Companies,
Consolidated $60
</TABLE>
For eliminating investments of PECO Energy Company and
Subsidiary Companies, consolidated, in Indebtedness of Subsidiary
Companies as follows:
<TABLE>
<CAPTION>
Other Accounts Investment of
Advances Debentures Receivable Owning Company
<S> <C> <C> <C> <C>
Susquehanna Electric Company $ 60
PECO Energy Capital Limited Partnership $228,093
PECO Energy Capital Corporation 22,809
PECO Energy Company 22,809 $228,093 0 $ 60
-------- -------- -------- ---------
$ 22,869 $228,093 $250,902 $ 60
======== ======== ======== =========
</TABLE>
<TABLE>
<CAPTION>
Elimination No. 6
<S> <C> <C>
Accounts Payable - Associated Companies, $11,433
Consolidated
Other Deferred Debits 36
Accounts Receivable - Associated Companies,
Consolidated $11,469
</TABLE>
For adjusting and eliminating intercompany Accounts
Receivable and Payable, as follows:
<TABLE>
<CAPTION>
Other
Accounts Accounts Deferred
Payable Receivable Debits
<S> <C> <C> <C>
Susquehanna Power Company $ 316
PECO Energy Power Company 84 $ 1,636
Conowingo Power Company 4,589 319
Susquehanna Electric Company 3,138 3,305
PECO Energy Company 3,306 6,209
Other Deferred Debits $ (36)
-------- -------- ----------
$ 11,433 $11,469 $ (36)
======== ======== ==========
</TABLE>
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