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Previous: PENOBSCOT SHOE CO, DEF 14A, 1996-02-29 |
Next: JEFFERSON PILOT SEPARATE ACCOUNT A, 24F-2NT, 1996-02-29 |
File No. 1-1401
FORM U-3A-2
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.
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)
For the Year Ended December 31, 1995
<PAGE>
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. In support of such claim for
exemption the following information is submitted.
1. NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF CLAIMANT
AND EVERY SUBSIDIARY THEREOF.
PECO Energy Company (PECO Energy), 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 2,107 square miles having a
population of about 3,700,000. 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 1995, 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 $4,186,156,280 $4,228,003,002
Electric Sales -
MKWH (Gross) 48,531,191 50,180,303
Electric Customers -
December 31 1,467,385 1,467,409
Gas Sales -
MCF (Natural Gas) 53,969,709 (1) 53,969,709 (1)
Gas Customers -
December 31 385,322 385,322
(1) Claimant also transported 48,531,016 MCF of gas for its gas customers.
<PAGE>
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, The
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 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 Conowingo Project. It sells most of
the energy produced to 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 wholly-owned subsidiary of EPDC and is primarily
engaged in electrical distribution equipment rental, and owns a 50%
managing partnership interest in a co-generation plant.
Adwin Realty Company (ARC) - Incorporated in Pennsylvania
Airport Business Center, 300 Stevens Drive, Lester PA
This company is a wholly-owned 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.
<PAGE>
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
2003 Renaissance Blvd., King of Prussia, PA
EPS is 92% owned by EPDC and is engaged in providing engineering,
construction and management services to industrial, commercial and
institutional customers, worldwide. EPS has four majority owned
subsidiaries, Energy Performance Services (EPS/Canada),Inc., EPS CR.
sr., a Czech Republic limited liability company, EPS Portugal and EPS
Chile.
PECO Energy Capital LP (PECLP) -
Incorporated in Delaware
1013 Center 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 Crop (PECC) -
Incorporated in Delaware
1013 Center Road, Wilmington, DE
PECC is the General Partner of PECLP.
PECO Gas Supply Company (PGSC) -
Incorporated in Pennsylvania
300 Front Street, West Conshohocken, PA
This wholly owned subsidiary of the Claimant is engaged in the purchase
and sale of natural gas.
In June 1995, the Company completed the sale of its subsidiary Conowingo Power
Company to Delmarva Power & Light Company.
<PAGE>
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.
CLAIMANT TOGETHER WITH ITS PUBLIC UTILITY SUBSIDIARIES
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, NJ which presently consist of
940 megawatts of nuclear and 18 megawatts of internal combustion generation as
of December 31, 1995. 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.
The following information, unless otherwise indicated, is as of December 31,
1995:
The electric facilities of Claimant and its subsidiaries with a total net summer
capacity of 9,078 net megawatts, include seventeen generating stations of which
2,811 megawatts are fossil-fired steam; 819 megawatts are internal combustion;
1,392 megawatts are hydro; and 4,056 megawatts are nuclear. The seventeen
generating stations are interconnected through transmission lines, substations
and related facilities.
The electric facilities of Claimant also include 89,977 conductor miles of
transmission, distribution and street lighting lines serving 1,565,148 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 Company. The maximum peak load (hourly
demand) for the calendar year 1995, on the facilities of Claimant and
subsidiaries was 7,244 megawatts which occurred on August 4, 1994.
<PAGE>
The electricity generating plants of Claimant and subsidiary companies at
December 31, 1995 are as follows:
</TABLE>
<TABLE>
<CAPTION>
NET SUMMER
NAME OF PLANT LOCATION TYPE CAPACITY -
CLAIMANT MEGAWATTS
<S> <C> <C> <C>>
Chester Chester, PA on Internal 39.0
Delaware River Combustion
Cromby Phoenixville on Steam and
Schuylkill River Internal
Combustion 347.7
Delaware Central Philadelphia Steam and
on Delaware River Internal
Combustion 312.7
Richmond Northeast Philadelphia Internal
on Delaware River Combustion 96.0
Schuylkill Central Philadelphia Steam and
on Schuylkill River Internal
Combustion 198.8
Southwark Southeast Philadelphia Internal
on Delaware River Combustion 53.0
Eddystone Eddystone, PA on Steam and
Delaware River Internal
Combustion 1,403.0
Peach Bottom
Atomic Power Near Delta, PA on
Station Susquehanna River Nuclear 928.0
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 48.0
Falls Substation Falls Twp., Bucks Co., Internal
PA Combustion 48.0
Salem Generating Salem Co., New Jersey Nuclear and
Station Internal
Combustion 958.0
Croydon Bristol Twp., PA Internal
Combustion 370.0
Limerick Limerick Twp.,
Montgomery Co., PA Nuclear 2,170.0
-------
Total for Claimant's Stations 8,565.8
PECO ENERGY POWER COMPANY
SUSQUEHANNA POWER COMPANY
Conowingo Near Conowingo, MD,
on Susquehanna River Hydro 512.0
-------
Total for Claimant and Subsidiaries 9,077.8
=======
</TABLE>
<PAGE>
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 8,566 512 9,078
Substation Transformer
Capacity-KVA -------- 35,767,603 -0- 35,767,603
Transmission and
Distribution Lines -
Conductor Miles 89,789 94 89,977
GAS PROPERTIES
Liquefied 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) 5,458 -0- 5,458
</TABLE>
In addition to the electric generating plants described above, Claimant owns
89,882 conductor miles of transmission and distribution lines including 825
conductor miles of 500,000 volts, 1,683 conductor miles of 220,000 volts, 656
conductor miles of 132,000 volts, 646 conductor miles of 66,000 volts, 48,779
conductor miles of 33,000, 13,000 and 4,000 volts, 37,276 conductor miles of
220-110 volts, and 16 conductor miles of street lighting line.
Claimant owns and operates 442 substations with a total installed capacity of
35,767,603 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 Company
at the Pennsylvania-Delaware line at Naamans, Pennsylvania, near Claymont,
Delaware. Connection is also made with the Atlantic Electric Company
transmission line at the Pennsylvania-New Jersey state line in Chester,
Pennsylvania. Two connections are made with the Baltimore Gas and Electric
<PAGE>
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>
PROPANE/
TRANS-
TEXAS EASTERN CONTINENTAL LNG AIR
STATION METER STATION METER STATION FACILITIES FACILITIES
<S> <C> <C> <C> <C>
Buckingham *
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 *
Centerpoint *
</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>
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 21.5 million
dekatherms for storage.
<TABLE>
<CAPTION>
MAXIMUM MAXIMUM
SUPPLY EXPIRATION DAILY ANNUAL
<S> <C> <C> <C>
Direct Produce 3/01 219,884dth(w) 57,101,987dth
125,533dth(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
Panhandle Eastern 3/01/15 30,511 2,745,990
FS Storage
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
Panhandle Eastern 3/31/15 29,973 From FS
FT Storage
Panhandle Eastern 10/31/15 29,973 From FS
FT1 Storage
Panhandle Eastern 10/31/15 29,973 From FS
LLFT Storage
</TABLE>
*Initial contract term expired continuing subject to service agreement term and
FERC Section 7 certification.
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
<PAGE>
producers and gas marketing companies. During 1995, total natural gas throughput
from all sources, including transportation of customer-owned gas delivered in
the Commonwealth of Pennsylvania, was approximately 104.9 million dekatherms.
Claimant purchased no gas from its subsidiary, EPEC, during 1995.
The maximum one day sendout of Claimant for calendar year 1995 occurred on
January 5 and amounted to 557,280,000 cubic feet of gas.
PECO ENERGY POWER COMPANY AND SUSQUEHANNA POWER COMPANY
PECO Energy Power Company and its subsidiary, Susquehanna Power Company, own the
Conowingo Hydroelectric 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
hydro-electric 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 13,200-33,000 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 distribution.
There are 63 circuit miles of 220,000 volt transmission lines and 29 circuit
miles of 33,000 volt transmission lines. The 220,000 volt transmission lines
consist of two single circuit lines supported on steel towers, of which 42
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 21 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 33,000 volt
transmission lines are owned by Susquehanna Power Company.
<PAGE>
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 BY INTERCOMPANY OTHER TOTAL
<S> <C> <C> <C>
PECO Energy Co. 298,006,730 48,087,732,003(a) 48,385,738,733
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. 1,351,067,332 54,575,640 1,405,642,972
Conowingo Power
Co. 37,641 388,883,357 388,920,998
</TABLE>
Note: (a) - Reflects gross deliveries including 496,175,000
kilowatthours accounted for under the purchased and
interchange power account.
GAS SALES BY MCF OF GAS DISTRIBUTED AT RETAIL
PECO Energy Co. 53,969,709
(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>
<TABLE>
<CAPTION>
KWH SOLD (AT RETAIL OR WHOLESALE)
ELECTRIC SALES BY INTERCOMPANY OTHER TOTAL
<S> <C> <C> <C>
PECO Energy Co. 298,006,730 14,482,688,420(a) 14,780,695,150
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. 1,351,067,332 54,575,640 1,405,642,972
Conowingo Power
Co. 37,641 4,245 41,886
</TABLE>
Note: (a) - PECO Energy Company also had a delivery of 496,175,000
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.
GAS SALES BY 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.
<TABLE>
<CAPTION>
KWH PURCHASED AT STATE LINE
ELECTRIC
PURCHASES BY INTERCOMPANY OTHER TOTAL
<S> <C> <C> <C>
PECO Energy Co. 1,293,453,011 2,000,000,000(a)* 3,284,581,569
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. - - -
Conowingo Power
Co. 240,323,812 - 240,323,812
</TABLE>
* Estimated
Note: (a) - PECO Energy Company also received 13,181,000,000 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.
GAS PURCHASED BY MMCF OF GAS PURCHASED AT STATE LINE
PECO Energy Co. 52,969,709
<PAGE>
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>
EXHIBITS
Exhibit A - Consolidated statement of income and surplus of Claimant and
its subsidiary companies for the calendar year 1994, together
with a consolidated 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>
EXHIBITS
The above-named Claimant has caused this statement to be duly executed on its
behalf by its authorized officer on this 29th day of February, 1996.
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, PO Box 8699, Philadelphia, PA 19101
----------------------------------------------------------------
(Mailing Address)
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> OPUR3
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> $15,007,756,000
<TOTAL-OPERATING-REVENUES> $4,204,040,000
<NET-INCOME> $609,732,000
</TABLE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
1 of 28
<TABLE>
<CAPTION>
Consolidated PECO Energy
Totals Eliminations Combined Totals Company
--------------- ------------- --------------- -------------
<S> <C> <C> <C> <C>
Operating Revenues
Electric $3,775,326 $58,273 $3,833,599 $3,753,464
Gas 410,830 410,830 410,830
Nonutility Subsidiaries 17,884 17,884
--------------- -------------- ------------- --------------
Total Operating Revenues 4,204,040 58,273 4,262,313 4,164,294
--------------- -------------- -------------- --------------
Operating Expenses
Fuel and Energy Interchange 762,762 41,846 804,608 781,316
Other Operating 962,288 16,427 978,715 933,116
Maintenance 308,430 --- 308,430 302,150
Depreciation 458,966 --- 458,966 454,193
Income Taxes 395,872 --- 395,872 392,203
Other Taxes 315,065 --- 315,065 308,027
--------------- -------------- -------------- --------------
Total Operating Revenues 3,203,383 58,273 3,261,656 3,171,005
--------------- -------------- -------------- --------------
Operating Income 1,000,657 --- 1,000,657 993,289
--------------- -------------- -------------- --------------
Other Income and Deductions
Allowance for Other Funds 14,371 --- 14,371 14,292
used During Construction
Gain on Sale of Subsidiary 58,745 --- 58,745 58,745
Equity in Subsidiary
Companies --- 5,609 5,609 3,779
Income Taxes (34,820) --- (34,820) (33,612)
Other, Net 7,061 26,726 33,788 8,461
--------------- -------------- -------------- --------------
Total Other Income and
Deductions 45,358 32,335 77,693 51,665
--------------- -------------- -------------- --------------
Income Before Interest Charges 1,046,015 32,335 1,078,350 1,044,954
--------------- -------------- -------------- --------------
Interest Charges
Long-Term Debt 389,262 --- 389,262 386,200
Short-Term Debt 38,712 26,726 65,438 40,642
Dividends on Preferred 20,987 --- 20,987 20,987
Securities of Subsidiary
Allowance for Borrowed (12,678) --- (12,678) (12,607)
Funds Used During --------------- ------------- -------------- --------------
Construction
Net Interest Charges 436,283 26,726 463,009 435,222
-------------- -------------- -------------- --------------
Net Income $ 609,732 $ 5,609 $ 615,341 $ 609,732
============== ============== ============== ==============
</TABLE>
<PAGE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
2 of 28
<TABLE>
<CAPTION>
Susquehanna
PECO Energy Susquehanna Conowingo Power Electric Company
Power Company Power Company Company --------------
-------------- -------------- ---------------
<S> <C> <C> <C> <C>
Operating Revenues
Electric $1,003 $15,680 $36,714 $26,738
Gas --- --- --- ---
Nonutility Subsidiaries --- --- --- ---
------------- -------------- ---------------- ---------------
Total Operating Revenues 1,003 15,680 36,714 26,738
------------- -------------- ---------------- ---------------
Operating Expenses
Fuel and Energy Interchange --- --- 23,292 ---
Other Operating 50 54 4,033 22,528
Maintenance --- 1 2,059 3,586
Depreciation 45 1,594 1,422 ---
Income Taxes 218 3,508 1,049 (80)
Other Taxes 129 2,383 2,827 704
------------- -------------- ---------------- ---------------
Total Operating Revenues 442 7,540 34,682 26,738
------------- -------------- ---------------- ---------------
Operating Income 561 8,140 2,032 ---
------------- -------------- ---------------- ---------------
Other Income and Deductions
Allowance for Other Funds --- 54 25 ---
used During Construction
Gain on Sale of Subsidiary --- --- --- ---
Equity in Subsidiary
Companies 8,257 --- --- ---
Income Taxes (3) (65) (37) (31)
Other, Net 8 82 98 81
-------------- -------------- ---------------- ---------------
Total Other Income and
Deductions 8,262 71 86 50
-------------- -------------- ---------------- --------------
Income Before Interest Charges 8,823 8,211 2,118 50
-------------- -------------- ---------------- ---------------
Interest Charges
Long-Term Debt 5 --- --- ---
Short-Term Debt 8 1 1 4
Dividends on Preferred --- --- --- ---
Securities of Subsidiary
Allowance for Borrowed --- (47) (24) ---
Funds Used During -------------- -------------- ---------------- ---------------
Construction
Net Interest Charges 13 (46) (23) 4
-------------- -------------- ---------------- ---------------
Net Income $ 8,810 $ 8,257 $ 2,141 $ 46
============== ============== ================ ===============
</TABLE>
<PAGE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
3 of 28
<TABLE>
<CAPTION>
PECO Energy Eastern
PECO Energy Capital Limited Pennsylvania Adwin Investment
Capital Partnership Development Company
Corporation ------------- Company ---------------
------------- ----------------
<S> <C> <C> <C> <C>
Operating Revenues
Electric --- --- --- ---
Gas --- --- --- ---
Nonutility Subsidiaries --- --- --- $326
------------- -------------- ---------------- ---------------
Total Operating Revenues --- --- --- 326
------------- -------------- ---------------- ---------------
Operating Expenses
Fuel and Energy Interchange --- --- --- ---
Other Operating $8 $115 --- 8
Maintenance --- --- --- ---
Depreciation --- --- --- ---
Income Taxes --- --- --- 93
Other Taxes 2 --- --- ---
------------- -------------- ---------------- ---------------
Total Operating Revenues 10 115 --- 101
------------- -------------- ---------------- ---------------
Operating Income (10) (115) --- 225
------------- -------------- ---------------- ---------------
Other Income and Deductions
Allowance for Other Funds --- --- --- ---
used During Construction
Gain on Sale of Subsidiary --- --- --- ---
Equity in Subsidiary
Companies (113) --- ($6,314) ---
Income Taxes (1,072) --- --- ---
Other, Net 3,146 21,638 --- ---
-------------- -------------- ---------------- ---------------
Total Other Income and
Deductions 1,961 21,638 (6,314) ---
-------------- -------------- ---------------- --------------
Income Before Interest Charges 1,951 21,523 (6,314) 225
-------------- -------------- ---------------- ---------------
Interest Charges
Long-Term Debt --- --- --- ---
Short-Term Debt 3,146 21,636 --- ---
Dividends on Preferred --- --- --- ---
Securities of Subsidiary
Allowance for Borrowed --- --- --- ---
Funds Used During -------------- -------------- ---------------- ---------------
Construction
Net Interest Charges 3,146 21,636 --- ---
-------------- -------------- ---------------- ---------------
Net Income $ (1,195) $ (113) $ (6,314) $ 225
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
4 of 28
<TABLE>
<CAPTION>
Energy Eastern
Adwin Equipment Performance Pennsylvania
Adwin Realty Company Services Exploration
Company ------------- Incorporated Company
-------------- ---------------- ---------------
<S> <C> <C> <C> <C>
Operating Revenues
Electric --- --- --- ---
Gas --- --- --- ---
Nonutility Subsidiaries $6,593 $247 $10,479 $ 79
------------- -------------- ---------------- ---------------
Total Operating Revenues 6,593 247 10,479 79
------------- -------------- ---------------- ---------------
Operating Expenses
Fuel and Energy Interchange --- --- --- ---
Other Operating 4,223 168 14,193 51
Maintenance 551 83 --- ---
Depreciation 1,485 19 78 130
Income Taxes 716 (15) (1,496) (324)
Other Taxes 983 6 --- 4
------------- -------------- ---------------- ---------------
Total Operating Revenues 7,958 261 12,775 (139)
------------- -------------- ---------------- ---------------
Operating Income (1,365) (14) (2,296) 218
------------- -------------- ---------------- ---------------
Other Income and Deductions
Allowance for Other Funds --- --- --- ---
used During Construction
Gain on Sale of Subsidiary --- --- --- ---
Equity in Subsidiary
Companies --- --- --- ---
Income Taxes --- --- --- ---
Other, Net --- --- 193 73
-------------- -------------- ---------------- ---------------
Total Other Income and
Deductions --- --- 193 73
-------------- -------------- ---------------- --------------
Income Before Interest Charges (1,365) (14) (2,103) 291
-------------- -------------- ---------------- ---------------
Interest Charges
Long-Term Debt 2,738 --- 319 ---
Short-Term Debt --- --- --- ---
Dividends on Preferred --- --- --- ---
Securities of Subsidiary
Allowance for Borrowed --- --- --- ---
Funds Used During -------------- -------------- ---------------- ---------------
Construction
Net Interest Charges 2,738 --- 319 ---
-------------- -------------- ---------------- ---------------
Net Income $ (4,103) $ (14) $ (2,422) $ 291
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
5 of 28
PA Gas Supply
Company
-------------
Operating Revenues
Electric ---
Gas ---
Nonutility Subsidiaries $160
-------------
Total Operating Revenues 160
-------------
Operating Expenses
Fuel and Energy Interchange ---
Other Operating 168
Maintenance ---
Depreciation ---
Income Taxes ---
Other Taxes ---
-------------
Total Operating Revenues 168
-------------
Operating Income (8)
-------------
Other Income and Deductions
Allowance for Other Funds ---
used During Construction
Gain on Sale of Subsidiary ---
Equity in Subsidiary
Companies ---
Income Taxes ---
Other, Net 8
-------------
Total Other Income and
Deductions 8
-------------
Income Before Interest Charges ---
-------------
Interest Charges
Long-Term Debt ---
Short-Term Debt ---
Dividends on Preferred ---
Securities of Subsidiary
Allowance for Borrowed ---
Funds Used During -------------
Construction
Net Interest Charges ---
-------------
Net Income $ ---
===========
<PAGE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
6 of 28
<TABLE>
<CAPTION>
PECO
Consolidated Combined Energy
Totals Eliminations Totals Company
<S> <C> <C> <C> <C>
Balance at January 1, 1995 $ 810,507 $ 810,507 $ 774,814
Additions:
Net Income for twelve months ended
December 31, 1995 (excluding
Equity In Earnings of Subsidiary
Companies) 669,323 669,323 665,544
Dividends Received from
Subsidiary Companies - 21,138 21,138 12,543
----------- ----------- ----------- -----------
Total Additions 669,323 21,138 690,461 678,087
----------- ----------- ----------- -----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock 4,035 4,035 (6,338)
Cash Dividend Declared
Preferred Stock 24,253 24,253 24,253
Common Stock 366,087 21,138 387,225 366,087
Divestment/Other 59,591 59,591
Issuance of Stock
Long-Term Incentive Plan 2,156 2,156 2,156
----------- ----------- ----------- -----------
Total Deductions 456,122 21,138 477,260 386,158
----------- ----------- ----------- -----------
Balance at December 31, 1995 $1,023,708 - 1,023,708 1,066,743
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
7 of 28
<TABLE>
<CAPTION>
PECO
Energy Susquehanna Conowingo Susquehanna
Power Power Power Electric
Company Company Company Company
<S> <C> <C> <C> <C>
Balance at January 1, 1995 $ 876 $ 6,595 $ 61,088 $ (88)
Additions:
Net Income for twelve months ended
December 31, 1995 (excluding
Equity In Earnings of Subsidiary
Companies) 553 8,257 2,141 46
Dividends Received from
Subsidiary Companies 8,402 - - -
----------- ----------- ----------- -----------
Total Additions 8,955 8,257 2,141 46
----------- ----------- ----------- -----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock - - - -
Cash Dividend Declared
Preferred Stock - - - -
Common Stock 8,905 8,402 3,638 -
Divestment/Other 59,591
Issuance of Stock
Long-Term Incentive Plan - - - -
----------- ----------- ----------- -----------
Total Deductions 8,905 8,402 63,229 -
----------- ----------- ----------- -----------
Balance at December 31, 1995 $ 926 $ 6,450 $ - $ (42)
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
8 of 28
<TABLE>
<CAPTION>
PECO
PECO Energy Eastern
Energy Capital Pennsylvania Adwin
Capital Limited Development Investment
Corporation Partnership Company Company
<S> <C> <C> <C> <C>
Balance at January 1, 1995 $ (368) $ (5) $ 3,072 $ 27
Additions:
Net Income for twelve months ended
December 31, 1995 (excluding
Equity In Earnings of Subsidiary
Companies) (1,082) (113) - 225
Dividends Received from
Subsidiary Companies - 193 -
----------- ----------- ----------- -----------
Total Additions (1,082) (113) 193 225
----------- ----------- ----------- -----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock 10,373 - -
Cash Dividend Declared
Preferred Stock -
Common Stock - 30
Divestment/Other - -
Issuance of Stock
Long-Term Incentive Plan - - -
----------- ----------- ----------- -----------
Total Deductions - 10,373 - 30
----------- ----------- ----------- -----------
Balance at December 31, 1995 $ (1,450) $ (10,491) $ 3,265 $ 222
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
9 of 28
<TABLE>
<CAPTION>
Energy Eastern
Adwin Adwin Performance Pennsylvania
Realty Equipment Services Exploration
Company Company Incorporated Company
<S> <C> <C> <C> <C>
Balance at January 1, 1995 $ (10,714) $ (5,868) $ (2,205) $ (16,717)
Additions:
Net Income for twelve months ended
December 31, 1995 (excluding
Equity In Earnings of Subsidiary
Companies) (4,103) (14) (2,422) 291
Dividends Received from
Subsidiary Companies - - - -
----------- ----------- ----------- -----------
Total Additions (4,103) (14) (2,422) 291
----------- ----------- ----------- -----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock - - -
Cash Dividend Declared
Preferred Stock - - - -
Common Stock 299 (136) -
Divestment/Other - - - -
Issuance of Stock
Long-Term Incentive Plan - - - -
----------- ----------- ----------- -----------
Total Deductions 299 (136) - -
----------- ----------- ----------- -----------
Balance at December 31, 1995 $ (15,116) $ (5,746) $ (4,627) $ (16,426)
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
Exhibit A
10 of 28
PECO
Gas
Supply
Company
Balance at January 1, 1995 $ -
Additions:
Net Income for twelve months ended
December 31, 1995 (excluding
Equity In Earnings of Subsidiary
Companies) -
Dividends Received from
Subsidiary Companies -
-----------
Total Additions -
-----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock -
Cash Dividend Declared
Preferred Stock -
Common Stock -
Divestment/Other -
Issuance of Stock
Long-Term Incentive Plan -
-----------
Total Deductions -
-----------
Balance at December 31, 1995 $ -
===========
<PAGE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
Exhibit A
11 of 28
<TABLE>
<CAPTION>
PECO
Consolidated Combined Energy
Totals Eliminations Totals Company
<S> <C> <C> <C> <C>
Assets
Utility Plant, at Original Cost
Electric $13,441,880 $13,441,880 $13,314,427
Gas 954,180 954,180 954,180
Common 377,427 377,427 299,899
----------- ----------- ----------- -----------
14,773,487 - 14,773,487 14,568,506
Less: Accumulated Provision
for Depreciation 4,649,165 4,649,165 4,585,175
----------- ----------- ----------- -----------
10,124,322 - 10,124,322 9,983,331
Nuclear Fuel, Net 191,084 191,084 191,084
Construction Work in Progess 494,194 494,194 490,746
Leased Property, Net 180,425 180,425 180,425
----------- ----------- ----------- -----------
Net Utility Plant 10,990,025 - 10,990,025 10,845,586
----------- ----------- ----------- -----------
Current Assets
Cash and Temporary Cash Investments 23,112 23,112 17,172
Accounts Receivable, Net
Customers 78,749 78,749 75,137
Other 75,122 363,709 438,831 82,924
Inventories, at Average Cost
Fossil Fuel 78,260 78,260 78,260
Materials and Supplies 123,387 123,387 122,918
Deferred Energy Costs 55,883 55,883 55,883
Other 61,305 61,305 58,014
----------- ----------- ----------- ----------
Total Current Assets 495,818 363,709 859,527 490,308
----------- ----------- ----------- ----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes 2,077,426 2,077,426 2,061,595
Deferred Limerick Costs 390,433 390,433 390,433
Deferred Non-pension Postretirement
Benefit Costs 248,085 248,085 247,494
Investments 280,774 (55) 280,719 254,508
Investments in Subsidiary Companies - 308,423 308,423 169,887
Loss on Reacquired Debt 308,577 308,577 308,577
Other 216,618 863 217,481 215,820
----------- ----------- ----------- -----------
Total Deferred Debits and
Other Assets 3,521,913 309,231 3,831,144 3,648,314
----------- ----------- ----------- -----------
Total $15,007,756 $ 672,940 $15,680,696 $14,984,208
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
Exhibit A
12 of 28
<TABLE>
<CAPTION>
PECO
Energy Susquehanna Conowingo Susquehanna
Power Power Power Electric
Company Company Company Company
<S> <C> <C> <C> <C>
Assets
Utility Plant, at Original Cost
Electric $ 6,103 $ 121,349 $ - $ 1
Gas - - - -
Common - - - -
----------- ----------- ----------- -----------
6,103 121,349 - 1
Less: Accumulated Provision
for Depreciation 598 37,933 - -
----------- ----------- ----------- -----------
5,505 83,416 - 1
Nuclear Fuel, Net - - - -
Construction Work in Progess - 3,448 - -
Leased Property, Net - - - -
----------- ----------- ----------- -----------
Net Utility Plant 5,505 86,864 - 1
----------- ----------- ----------- -----------
Current Assets
Cash and Temporary Cash Investments 68 774 - 2,543
Accounts Receivable, Net
Customers - - - 82
Other 8,566 1,344 - 3,398
Inventories, at Average Cost
Fossil Fuel - - - -
Materials and Supplies - - - 469
Deferred Energy Costs - - - -
Other 30 2,622 - 202
----------- ----------- ----------- ----------
Total Current Assets 8,664 4,740 - 6,694
----------- ----------- ----------- ----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes 101 15,917 - (187)
Deferred Limerick Costs - - - -
Deferred Non-pension Postretirement
Benefit Costs - - - 591
Investments 385 1,000 - -
Investments in Subsidiary Companies 75,713 - - -
Loss on Reacquired Debt - - - -
Other - 29 - (984)
----------- ----------- ----------- -----------
Total Deferred Debits and
Other Assets 76,199 16,946 - (580)
----------- ----------- ----------- -----------
Total $ 90,368 $ 108,550 $ - $ 6,115
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
Exhibit A
13 of 28
<TABLE>
<CAPTION>
PECO
PECO Energy Eastern
Energy Capital Pennsylvania Adwin
Capital Limited Development
Investment Corporation Partnership Company Company
Assets
<S> <C> <C> <C> <C>
Utility Plant, at Original Cost
Electric $ - $ - $ - $ -
Gas - - - -
Common - - - -
----------- ----------- ----------- -----------
- - - -
Less: Accumulated Provision
for Depreciation - - - -
----------- ----------- ----------- -----------
- - - -
Nuclear Fuel, Net - - - -
Construction Work in Progess - - - -
Leased Property, Net - - - -
----------- ----------- ----------- -----------
Net Utility Plant - - - -
----------- ----------- ----------- -----------
Current Assets
Cash and Temporary Cash Investments 10 37 1 4
Accounts Receivable, Net
Customers - - - -
Other 30,861 308,613 7 305
Inventories, at Average Cost
Fossil Fuel - - - -
Materials and Supplies - - - -
Deferred Energy Costs - - - -
Other - - - -
----------- ----------- ----------- ----------
Total Current Assets 30,871 308,650 8 309
----------- ----------- ----------- ----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes - - - -
Deferred Limerick Costs - - - -
Deferred Non-pension Postretirement
Benefit Costs - - - -
Investments - - 3,460
Investments in Subsidiary Companies 17,718 - 45,105 -
Loss on Reacquired Debt - - - -
Other - 978 - -
----------- ----------- ----------- -----------
Total Deferred Debits and
Other Assets 17,718 978 45,105 3,460
----------- ----------- ----------- -----------
Total $ 48,589 $ 309,628 $ 45,113 $ 3,769
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
Exhibit A
14 of 28
<TABLE>
<CAPTION>
Energy Eastern
Adwin Adwin Performance Pennsylvania
Realty Equipment Services Exploration
Company Company Incorporated Company
Assets
<S> <C> <C> <C> <C>
Utility Plant, at Original Cost
Electric $ - $ - $ - $ -
Gas - - - -
Common 52,608 398 5,196 19,326
----------- ----------- ----------- -----------
52,608 398 5,196 19,326
Less: Accumulated Provision
for Depreciation 5,365 39 771 19,284
----------- ----------- ----------- -----------
47,243 359 4,425 42
Nuclear Fuel, Net - - - -
Construction Work in Progess - - - -
Leased Property, Net - - - -
----------- ----------- ----------- -----------
Net Utility Plant 47,243 359 4,425 42
----------- ----------- ----------- -----------
Current Assets
Cash and Temporary Cash Investments 1,028 351 907 114
Accounts Receivable, Net
Customers - - 3,530 -
Other 462 541 1,686 11
Inventories, at Average Cost
Fossil Fuel - - - -
Materials and Supplies - - - -
Deferred Energy Costs - - - -
Other 292 25 120 -
----------- ----------- ----------- ----------
Total Current Assets 1,782 917 6,243 125
----------- ----------- ----------- ----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes - - - -
Deferred Limerick Costs - - - -
Deferred Non-pension Postretirement
Benefit Costs - - - -
Investments 9,334 4,292 7,682 -
Investments in Subsidiary Companies - - - -
Loss on Reacquired Debt - - - -
Other 1,470 - 168 -
----------- ----------- ----------- -----------
Total Deferred Debits and
Other Assets 10,804 4,292 7,850 -
----------- ----------- ----------- -----------
Total $ 59,829 $ 5,568 $ 18,518 $ 167
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
Exhibit A
15 of 28
PECO
Gas
Supply
Company
Assets
Utility Plant, at Original Cost
Electric $ -
Gas -
Common -
-----------
-
Less: Accumulated Provision
for Depreciation -
-----------
-
Nuclear Fuel, Net -
Construction Work in Progess -
Leased Property, Net -
-----------
Net Utility Plant -
-----------
Current Assets
Cash and Temporary Cash Investments 103
Accounts Receivable, Net
Customers -
Other 113
Inventories, at Average Cost
Fossil Fuel -
Materials and Supplies -
Deferred Energy Costs -
Other -
-----------
Total Current Assets 216
-----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes -
Deferred Limerick Costs -
Deferred Non-pension Postretirement
Benefit Costs -
Investments 58
Investments in Subsidiary Companies -
Loss on Reacquired Debt -
Other -
-----------
Total Deferred Debits and
Other Assets 58
-----------
Total $ 274
===========
<PAGE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
Exhibit A
16 of 28
<TABLE>
<CAPTION>
PECO
Consolidated Combined Energy
Totals Eliminations Totals Company
<S> <C> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 3,506,313 $ 71,764 $ 3,578,077 $ 3,506,313
Other Paid-in Capital 1,326 288,141 289,467 1,271
Retained Earnings 1,023,708 (51,597) 972,111 1,034,081
----------- ----------- ----------- -----------
4,531,347 308,308 4,839,655 4,541,665
Preferred and Preference Stock
Without Mandatory Redemption 199,367 - 199,367 199,367
With Mandatory Redemption 92,700 - 92,700 92,700
Minority Interest in Preferred
Securities of Subsidiaries 302,282 - 302,282 -
Long-Term Debt 4,216,653 308,613 4,525,266 4,506,896
Advances from Subsidiary Companies - 30,921 30,921 30,861
----------- ----------- ----------- -----------
Total Capitalization 9,342,349 647,842 9,990,191 9,371,489
----------- ----------- ----------- -----------
Current Liabilities
Notes Payable, Bank - - - -
Long-Term Debt Due Within One Year 419,779 - 419,779 401,003
Capital Lease Obligations Due Within
One Year 60,320 60,320 60,320
Accounts Payable 306,459 25,098 331,557 303,175
Taxes Accrued 108,757 - 108,757 105,064
Deferred Income Taxes 15,919 - 15,919 17,072
Interest Accrued 88,048 88,048 88,058
Dividends Payable 20,722 20,722 20,722
Other 83,002 83,002 82,240
----------- ----------- ----------- -----------
Total Current Liabilities 1,103,006 25,098 1,128,104 1,077,654
----------- ----------- ----------- -----------
Deferred Credits and Other Liabilities
Capital Lease Obligations 120,105 120,105 120,105
Deferred Income Taxes 3,314,329 3,314,329 3,293,212
Unamortized Investment Tax Credits 351,569 351,569 350,619
Pension Obligation for Early
Retirement Plan 216,283 216,283 214,977
Non-Pension Postretirement Benefits
Obligation 326,251 326,251 325,660
Other 233,864 233,864 230,492
----------- ----------- ----------- -----------
Total Deferred Credits and
Other Liabilities 4,562,401 - 4,562,401 4,535,065
----------- ----------- ----------- -----------
Total $15,007,756 $ 672,940 $15,680,696 $14,984,208
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
Exhibit A
17 of 28
PECO
Energy Susquehanna Conowingo Susquehanna
Power Power Power Electric
Company Company Company Company
<S> <C> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 24,600 $ 47,048 $ - $ 10
Other Paid-in Capital 48,740 22,215 - 1,050
Retained Earnings 7,376 6,450 - (42)
----------- ----------- ----------- -----------
80,716 75,713 - 1,018
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 80,716 75,713 - 1,078
----------- ----------- ----------- -----------
Current Liabilities
Notes Payable, Bank - - - -
Long-Term Debt Due Within One Year - - - -
Capital Lease Obligations Due Within
One Year - - - -
Accounts Payable 8,945 10,871 - 1,422
Taxes Accrued 347 1,290 - (158)
Deferred Income Taxes - - - -
Interest Accrued (5) (5) - -
Dividends Payable - - - -
Other 9 - - 525
----------- ----------- ----------- -----------
Total Current Liabilities 9,296 12,156 - 1,789
----------- ----------- ----------- -----------
Deferred Credits and Other Liabilities
Capital Lease Obligations - - - -
Deferred Income Taxes 356 19,731 - (649)
Unamortized Investment Tax Credits - 950 - -
Pension Obligation for Early
Retirement Plan - - - 1,306
Non-Pension Postretirement Benefits
Obligation - - - 591
Other - - - 2,000
----------- ----------- ----------- -----------
Total Deferred Credits and
Other Liabilities $ 356 $ 20,681 $ - $ 3,248
----------- ----------- ----------- -----------
Total $ 90,368 $ 108,550 $ - $ 6,115
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
Exhibit A
18 of 28
<TABLE>
<CAPTION>
PECO
PECO Energy Eastern
Energy Capital Pennsylvania Adwin
Capital Limited Development Investment
Corporation Partnership Company Company
<S> <C> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ - $ - $ 1 $ 1
Other Paid-in Capital 48,663 17,837 62,779 3,500
Retained Earnings (1,568) (10,491) (22,002) 222
----------- ----------- ----------- -----------
47,095 7,346 40,778 3,723
Preferred and Preference Stock
Without Mandatory Redemption - - - -
With Mandatory Redemption - - - -
Minority Interest in Preferred
Securities of Subsidiaries - 302,282 - -
Long-Term Debt - - 4,100 -
Advances from Subsidiary Companies - - - -
----------- ----------- ----------- -----------
Total Capitalization 47,095 309,628 44,878 3,723
----------- ----------- ----------- -----------
Current Liabilities
Notes Payable, Bank - - - -
Long-Term Debt Due Within One Year - - - -
Capital Lease Obligations Due Within
One Year - - - -
Accounts Payable 416 - 8 2
Taxes Accrued 1,078 - - 107
Deferred Income Taxes - - (1) (63)
Interest Accrued - - - -
Dividends Payable - - - -
Other - - 228 -
----------- ----------- ----------- -----------
Total Current Liabilities 1,494 - 235 46
----------- ----------- ----------- -----------
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 - - - -
----------- ----------- ----------- -----------
Total $ 48,589 $ 309,628 $ 45,113 $ 3,769
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
Exhibit A
19 of 28
Energy Eastern
Adwin Adwin Performance Pennsylvania
Realty Equipment Services Exploration
Company Company Incorporated Company
<S> <C> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 1 $ 1 $ 1 $ 1
Other Paid-in Capital 41,189 10,634 15,045 16,544
Retained Earnings (15,116) (5,746) (4,627) (16,426)
----------- ----------- ----------- -----------
26,074 4,889 10,419 119
Preferred and Preference Stock
Without Mandatory Redemption - - - -
With Mandatory Redemption - - - -
Minority Interest in Preferred
Securities of Subsidiaries
Long-Term Debt 11,771 - 2,499 -
Advances from Subsidiary Companies - - - -
----------- ----------- ----------- -----------
Total Capitalization 37,845 4,889 12,918 119
----------- ----------- ----------- -----------
Current Liabilities
Notes Payable, Bank - - - -
Long-Term Debt Due Within One Year 17,967 - 809 -
Capital Lease Obligations Due Within
One Year - - - -
Accounts Payable 1,791 441 4,312 -
Taxes Accrued 1,034 - - (5)
Deferred Income Taxes - - (1,089) -
Interest Accrued - - - -
Dividends Payable - - - -
Other - - - -
----------- ----------- ----------- -----------
Total Current Liabilities 20,792 441 4,032 (5)
----------- ----------- ----------- -----------
Deferred Credits and Other Liabilities
Capital Lease Obligations - - - -
Deferred Income Taxes - 58 1,568 53
Unamortized Investment Tax Credits - - - -
Pension Obligation for Early
Retirement Plan - - - -
Non-Pension Postretirement Benefits
Obligation - - - -
Other 1,192 180 - -
----------- ----------- ----------- -----------
Total Deferred Credits and
Other Liabilities 1,192 238 1,568 53
----------- ----------- ----------- -----------
Total $ 59,829 $ 5,568 $ 18,518 $ 167
=========== =========== =========== ===========
</TABLE>
<PAGE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1995
(Thousands of Dollars)
Exhibit A
20 of 28
PA
Gas
Supply
Company
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 100
Other Paid-in Capital -
Retained Earnings -
-----------
100
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 100
-----------
Current Liabilities
Notes Payable, Bank -
Long-Term Debt Due Within One Year -
Capital Lease Obligations Due Within
One Year -
Accounts Payable 174
Taxes Accrued -
Deferred Income Taxes -
Interest Accrued -
Dividends Payable -
Other -
-----------
Total Current Liabilities 174
-----------
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 -
-----------
Total $ 274
===========
<PAGE>
Exhibit A
21 of 28
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Income Eliminations
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
Elimination No. 1 Debit Credit
<S> <C> <C>
Operating Revenue $58,273
Operating Expense $58,273
For eliminating intercompany transactions
with respect to sales of energy and
rentals, as follows:
Operating Operating
Revenue Expenses
Susquehanna Power Company $15,680
Rental of generating and transmission
facilities to Susquehanna Electric
Company $15,680
PECO Energy Company 19,861
Sales of electric energy to Conowingo 19,861
Power Company
Susquehanna Electric Company 3,764
Sales of electric energy to Conowingo 3,764
Power Company
Susquehanna Electric Company 18,216
Sales of electric energy to PECO 18,216
Energy Company
PECO Energy Power Company 747
Rental of transmission facilities to 747
PECO Energy Company
Conowingo Power Company 5
Sales of electric energy to PECO 5
Energy Company -------- --------
$58,273 $58,273
======== ========
</TABLE>
<PAGE>
Exhibit A
22 of 28
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Income Eliminations
Twelve Months Ended December 31, 1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
Elimination No. 2 Debit Credit
<S> <C> <C>
Other Income and Deductions $32,335
Interest Charges $26,726
Equity in Earnings of Subsidiary Companies 5,609
</TABLE>
For eliminating intercompany items in connection with interest on notes and
subsidiary earnings as follows:
<TABLE>
<CAPTION>
Equity in
Earnings of
Other Interest Subsidiary
Income Charges Companies
<S> <C> <C> <C>
PECO Energy Company $3,116 --- ---
Interest from Susquehanna Electric Company --- $4 ---
Interest from PECO Energy Capital Corporation --- 3,112 ---
PECO Energy Capital Corporation 3,082 --- ---
Interest from PECO Energy Capital Limited
Partnership --- 616 ---
Interest from PECO Energy Company --- 2,466 ---
PECO Energy Capital Limited Partnership 20,528 --- ---
Interest from PECO Energy Company --- 20,528 ---
PECO Energy Company 3,779 --- ---
Equity in Earnings of Subsidiary Companies
PECO Energy Power Company --- --- $8,810
Conowingo Power Company --- --- 2,141
Susquehanna Electric Company --- --- 46
PECO Energy Capital Corporation --- --- (1,195)
Eastern Pennsylvania Development Company --- --- (6,314)
Eastern Pennsylvania Exploration Company --- --- 291
PECO Energy Capital Corporation (113) ---
Equity in Earnings of Subsidiary Company
PECO Energy Capital Limited Partnership --- --- (113)
PECO Energy Power company 8,257 ---
Equity in Earnings of Subsidiary Company
Susquehanna Power Company --- --- 8,257
Eastern Pennsylvania Development Company (6,314) ---
Equity in Earnings of Subsidiary Companies
Adwin Investment Company --- --- 225
Adwin Realty Company --- --- (4,103)
Adwin Equipment Company --- --- (14)
Energy Performance Services Incorporated --- --- (2,422)
-------- -------- --------
$32,335 $26,726 $5,609
======== ======== ========
</TABLE>
<PAGE>
Exhibit A
23 of 28
PECO Energy Company and Subsidiary Companies
Note to Financial Statements
December 31, 1995
(Thousands of Dollars)
1. Utility Plant in the balance sheet consists of the following:
Company Consolidated
Plant at Original Cost
Electric 13,314,427 13,441,880
Gas 954,180 954,180
Common, Used in All Services 299,989 377,427
----------- -----------
$14,568,596 $14,773,487
=========== ===========
<PAGE>
Exhibit A
24 of 28
PECO Energy Company and Subsidiary Companies
Schedule of Capital Stock
December 31, 1995
<TABLE>
<CAPTION>
Number of Shares Amount
Authorized Outstanding (In Thousands)
<S> <C> <C> <C>
PECO Energy Company
Preferred Stock - No Par
Cumulative (Note)
$7.96 Series 618,954 618,954 $61,895
$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
$4.40 Series 274,720 274,720 27,472
$4.30 Series 150,000 150,000 15,000
$3.80 Series 300,000 300,000 30,000
Unclassified 12,079,326 --- ---
---------- ----------- -----------
Total Preferred Stock 15,000,000 2,920,674 292,067
---------- ----------- -----------
Common Stock - No Par 500,000,000 222,172,216 3,506,313
----------- ----------- -----------
Total Capital Stock $3,798,380
===========
</TABLE>
Note: Redeemable, at the option of the Company, at the following dollar
amounts per share, plus accrued dividends:
$4.68 Series - $104.00 $4.30 Series - $102.00
$4.40 Series - $112.50 $3.80 Series - $106.00
$7.96 Series - $100.00 beginning October 1, 1997
$7.48 Series - $103.74 beginning April 1, 2003
<PAGE>
Exhibit A
25 of 28
PECO Energy Company and Subsidiary Companies
Schedule of Long-Term Debt
December 31, 1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
Due Within
One Year
Long-Term (Included in
Debt Long-Term Debt)
<S> <C> <C>
PECO Energy Company
First and Refunding Mortgage Bonds
6-1/8% Series due 1997 $75,000 $4,063
5-3/8% Series due 1998 225,000 ---
7-1/2% Series due 1999 250,000 ---
9-1/4% Series due 1999 75,000 ---
5-5/8% Series due 2001 250,000 ---
7-3/8% Series due 2001 80,000 ---
8% Series due 2002 200,000 ---
7-1/2% Series due 2002 100,000 ---
7-1/8% Series due 2002 200,000 ---
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 48,750 ---
8-7/8% Series due 2016 34,000 ---
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 ---
------------ ------------
3,824,080 4,063
Medium-Term Notes 121,800 47,400
Notes Payable - Banks 517,000 342,000
Pollution Control Notes 169,005 7,540
Unamortized Premium on Long-Term Debt 10 ---
Unamortized Discount on Long-Term Debt (32,609) ---
------------ ------------
Total PECO Energy Company $4,599,286 $401,003
============ ============
</TABLE>
<PAGE>
Exhibit A
26 of 28
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet Eliminations
December 31,1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
Elimination 1 Debit Credit
<S> <C> <C>
Capital Stock - Subsidiary Companies, Consolidated $71,764
Investments in Capital Stock of Subsidiary
Companies, Consolidated $71,764
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
Susquehanna Power Company $47,048 ---
PECO Energy Power Company 24,600 $47,048
Conowingo Power Company --- ---
Susquehanna Electric Company 10 ---
PECO Energy Capital Limited Partnership --- ---
PECO Energy Capital Corporation --- ---
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 Gas Supply Company 100 ---
PECO Energy Company --- 24,712
-------- --------
$71,764 $71,764
======== ========
Elimination No. 2 Debit Credit
Paid-In Capital - Subsidiary Companies, Consolidated $288,141
Investments in Paid-In Capital of Subsidiary
Companies, Consolidated $288,196
Other Investments (55)
</TABLE>
For eliminating investments of PECO Energy Company and Subsidiary Companies,
consolidated, in Paid-In Capital of Subsidiary Companies as follows:
<TABLE>
<CAPTION>
Paid-In Investment of Other
Capital Owning Company Investments
<S> <C> <C> <C>
Susquehanna Power Company $22,215 --- ---
PECO Energy Power Company 48,740 $22,215 ---
Susquehanna Electric Company 1,050 --- ---
Conowingo Power Company --- --- ---
PECO Energy Capital Limited Partnership 17,809 --- ($28)
PECO Energy Capital Corporation 48,636 17,836 (27)
Adwin Investment Company 3,500 --- ---
Adwin Realty Company 41,189 --- ---
Adwin Equipment Company 10,634 --- ---
Energy Performance Services Incorporated 15,045 --- ---
Eastern Pennsylvania Development Company 62,779 70,368 ---
Eastern Pennsylvania Exploration Company 16,544 --- ---
PECO Energy Company --- 177,776 ---
-------- -------- --------
$288,141 $288,196 $(55)
======== ======== ========
</TABLE>
<PAGE>
Exhibit A
27 of 28
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet Eliminations
December 31,1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
Elimination 3 Debit Credit
<S> <C> <C>
Retained Earnings - Subsidiary Companies, Consolidated $(51,597)
Investments in Retained Earnings of Subsidiary Companies, $(51,597)
Consolidated
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
Susquehanna Power Company $ 6,450 ---
PECO Energy Power Company 7,376 %6,450
Conowingo Power Company --- ---
Susquehanna Electric Company (42) ---
PECO Energy Capital Limited Partnership (118) ---
PECO Energy Capital Corporation (1,568) (118)
Adwin Investment Company 222 ---
Adwin Realty Company (15,116) ---
Adwin Equipment Company (5,746) ---
Energy Performance Services Incorporated (4,627) ---
Eastern Pennsylvania Development Company (22,002) (25,267)
Eastern Pennsylvania Exploration Company (16,426) ---
PECO Energy Company --- (32,662)
-------- --------
$(51,597) $(51,597)
======== ========
Elimination No. 4
- -----------------
Long-Term Debt - Advances from Subsidiary Companies, Consolidated $30,921 ---
Long-Term Debt - Debentures from Subsidiary Companies, Consolidated 308,613 ---
Accounts Receivable - Associated Companies, Consolidated --- $339,474
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 Investments of
Advances Debentures Receivable Owning Company
<S> <C> <C> <C> <C>
Susquehanna Electric Company $60 --- --- ---
PECO Energy Capital Limited Partnership --- --- $308,613 ---
PECO Energy Capital Corporation --- --- 30,861 ---
PECO Energy Company 30,861 $308,613 --- $60
------- -------- -------- --------
$30,921 $308,613 $339,474 $60
======= ======== ======== ========
</TABLE>
<PAGE>
Exhibit A
28 of 28
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet Eliminations
December 31,1995
(Thousands of Dollars)
<TABLE>
<CAPTION>
Elimination No. 5 Debit Credit
<S> <C> <C> <C>
Accounts Payable - Associated Companies, Consolidated $25,098
Other Deferred Debits (863)
Accounts Receivable - Associated Companies,
Consolidated $24,235
For adjusting and eliminating intercompany Accounts
Payable, as follows:
Accounts Accounts Other
Payable Receivable Deferred Debits
-------- ----------- ---------------
Susquehanna Power Company $10,913 $1,348 ---
PECO Energy Power Company 8,939 8,498 ---
Conowingo Power Company --- --- ---
Susquehanna Electric Company 1,597 3,008 ---
PECO Energy Capital Corporation 416 --- ---
PECO Energy Company 3,233 11,381 ---
Other Deferred Debits --- --- $863
-------- -------- --------
$ 25,098 $ 24,235 $863
======== ======== ========
</TABLE>
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