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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, 1996
<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.
Incorporated in Pennsylvania in 1929, PECO Energy Company (PECO
Energy), Claimant, is an operating utility providing electric and natural gas
service to the public in southeastern Pennsylvania. Claimant is located at 2301
Market Street, Philadelphia, PA. The total retail area served by PECO Energy
covers 2,107 square miles.
Electric service is supplied to an area of 1,972 square miles with a
population of about 3.6 million, including 1.6 million in the City of
Philadelphia. Approximately 94% of the retail electric service area and 64% of
retail kilowatthour sales are in the suburbs surrounding the City of
Philadelphia, and 6% of the retail service area and 36% of such sales are in the
City of Philadelphia. Electric energy is interchanged with other electric
utilities operating in adjacent territories. The Claimant has negotiated power
transactions in 46 of the 48 contiguous states and the province of Quebec,
Canada.
Natural gas service is supplied in a 1,475 square-mile area of
southeastern Pennsylvania, adjacent to the City of Philadelphia, with a
population of 1.9 million.
Through Horizon Energy, a wholly owned subsidiary of Claimant, PECO
Energy is partnering with Washington Gas Light Company in a pilot program to
provide natural gas service to 4,000 residential customers in a 980-square-mile
area in Maryland, near the District of Columbia.
Of the total electric and gas business done by Claimant and its
subsidiaries in 1996, 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 $4,283,649,779 $4,306,769,883
Electric Sales -
MKWH (Gross) 54,123,485 56,495,518
Electric Customers -
December 31 1,471,231 1,471,231
Gas Sales -
MCF (Natural Gas) 59,416,032 59,416,032
Gas Customers -
December 31 394,658 394,658
<FN>
(1) Claimant also transported 27,891,297 MCF of gas for its gas customers.
</FN>
</TABLE>
<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
2301 Market Street, Philadelphia, PA
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
2569 Shures Landing Road, Darlington, MD
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
2569 Shures Landing Road, Darlington, MD
Operates the Maryland portion of Conowingo Project. It sells most of
the energy produced to Claimant.
Eastern Pennsylvania Development Company (EPDC) - Incorporated in PA
2301 Market Street, Philadelphia, 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 2301 Market
Street, Philadelphia, 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 (Schuylkill) Cogeneration, Inc. - Incorporated in Pennsylvania
2301 Market Street, Philadelphia, PA
Special purpose corporation which holds a 33.3% interest in the
Grays Ferry Cogeneration Project.
Adwin Realty Company (ARC) - Incorporated in Pennsylvania
2301 Market Street, Philadelphia, PA
This company is a wholly-owned subsidiary of EPDC and is engaged in
real estate development.
Adwin Investment Company (AIC) - Incorporated in Delaware
Dissolved as of July 31, 1996.
1105 N. Market Street, Suite 1300, Wilmington, DE
This company was engaged in passive investing in various financial
instruments and real estate holdings.
<PAGE>
Eastern Pennsylvania Exploration Company (EPEC) - Incorporated in
Pennsylvania
2301 Market Street, Philadelphia, 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.
NOTE: This Company is winding up and will be dissolved once a tax
clearance certificate is obtained.
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 Corp (PECC) - Incorporated in Delaware 1013 Center Road,
Wilmington, DE PECC is the General Partner of PECLP.
Horizon Energy Company (formerly known as PECO Gas Supply Company) 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.
PECO Wireless, Inc. - Incorporated in Pennsylvania
2301 Market Street, Philadelphia, PA
This wholly owned subsidiary of the Claimant is engaged in offering
personal communication services in the Philadelphia Major Trading Area.
Exelon Corporation - Incorporated in Pennsylvania
955 Chesterbrook Blvd. 53A-2, Wayne, PA
This wholly owned subsidiary of the Claimant is engaged in providing
operation management and consulting services for energy generation
equipment and plants.
Energy Trading Company - Incorporated in Delaware
1013 Centre Road, Wilmington, DE
This wholly owned subsidiary of the Claimant is engaged in developing
and marketing electronic commerce software to facilitate barter
trading via the Internet.
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.
<PAGE>
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, 1996. 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,
1996:
The electric facilities of Claimant and its subsidiaries with a total net summer
capacity of 9,201 net megawatts, include seventeen generating
stations of which 2,877 megawatts are fossil-fired steam; 842 megawatts are
internal combustion; 1,392 megawatts are hydro; and 4,090 megawatts are nuclear.
The seventeen generating stations are interconnected through transmission lines,
substations and related facilities.
The electric facilities of Claimant also include 90,674 conductor miles
of transmission, distribution and street lighting lines serving 1,568,594
electric meters installed on customers' premises. Additional bulk power 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 and Light Company. The maximum peak load
(hourly demand) for the calendar year 1996, on the facilities of Claimant and
subsidiaries was 6,509 megawatts which occurred on August 5, 1996.
<PAGE>
The electricity generating plants of Claimant and subsidiary companies at
December 31, 1996 are as follows:
<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 314.7
Richmond Northeast Philadelphia Internal
on Delaware River Combustion 96.0
Schuylkill Central Philadelphia Steam and
on Schuylkill River Internal
Combustion 200.8
Southwark Southeast Philadelphia Internal
on Delaware River Combustion 54.0
Eddystone Eddystone, PA on Steam and
Delaware River Internal
Combustion 1,403.0
Peach Bottom Atomic Near Delta, PA on
Power Station Susquehanna River Nuclear 928.0
Keystone Near Johnstown, PA Mine-mouth
Steam and
Int. Comb. 359.3
Muddy Run 13 miles up-stream
from Conowingo Dam on Hydro-Pumped
the Susquehanna River Storage 880.0
Conemaugh Near Johnstown, 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 50.0
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 2,220.0
Fairless Hills Falls Twp., Bucks Co., Internal
PA Combustion 60.0
Pennsbury Falls Twp., Bucks Co., Internal
PA Combustion 6.0
-------
Total for Claimant's Stations 8,688.8
PECO ENERGY POWER COMPANY
SUSQUEHANNA POWER COMPANY
Conowingo Near Conowingo, MD,
on Susquehanna River Hydro 512.0
-------
Total for Claimant and Subsidiaries 9,200.8
=======
</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) 8,689 512 9,201
Substation Transformer
Capacity (KVA) 34,877,382 -0- 34,877,382
Transmission and
Distribution Lines -
Conductor Miles 90,524 94 90,618
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) 150,000 -0- 150,000
Distribution Main
(Miles) 5,458 -0- 5,458
</TABLE>
In addition to the electric generating plants described above, Claimant owns
90,618 conductor miles of transmission and distribution lines including 825
conductor miles of 500,000 volts, 1,481 conductor miles of 220,000 volts, 677
conductor miles of 132,000 volts, 607 conductor miles of 66,000 volts, 49,736
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 431 substations with a total installed capacity of
34,877,382 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 and Light 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 Company transmission line at the Pennsylvania-Maryland state line,
near Delta, Pennsylvania. Connection is made with Conowingo Power Company, a
subsidiary of Delmarva Power and Light Company, 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.
<PAGE>
GAS PLANTS
Claimant owns and operates the following gate stations where natural gas is
received from suppliers:
<TABLE>
<CAPTION>
TRANS- PROPANE/
TEXAS EASTERN CONTINNTAL LNG AIR
STATION METER STATION METER STATION FACIL. FACILITIES
<S> <C> <C> <C> <C>
Buckingham *
Tilghman St. * *
West Conshohocken * * * *
Ivyland *
Oreland *
Pottstown *
East Greenville *
Kennett Square *
Coatesville *
Parkesburg *
U. S. Steel-Dolington *
Morrisville *
Cromby-Phoenixville *
Lukens-Conshohocken *
Corson-Plymouth Mtg.*
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 EXPIRES DAILY ANNUAL
<S> <C> <C> <C>
Direct Produce 3/01 219,884dth(w) 57,101,987 dth
125,533dth(s)
MAXIMUM
STORAGE EXPIRES 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 EXPIRES 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
<FN>
*Initial contract term expired continuing subject to service agreement term and
FERC Section 7 certification.
</FN>
</TABLE>
<PAGE>
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 1996, total natural
gas throughput from all sources, including transportation of customer-owned gas
delivered in the Commonwealth of Pennsylvania, was approximately 87.3 million
dekatherms.
Claimant purchased no gas from its subsidiary, EPEC, during 1996.
The maximum one day sendout of Claimant for calendar year 1996 occurred on March
8 and amounted to 557,263,000 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.
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 of
Delmarva Power and Light Company, 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. - 54,113,363,838(a) 54,113,363,838
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. 2,372,033,166 10,120,656 2,382,153,822
<FN>
Note: (a) - Reflects gross deliveries including 934,833,000
kilowatthours accounted for under the purchased and
interchange power account.
</FN>
MCF OF GAS DISTRIBUTED AT RETAIL
GAS SALES BY
PECO Energy Co. 59,416,032
</TABLE>
(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.
<TABLE>
<CAPTION>
KWH SOLD (AT RETAIL OR WHOLESALE)
ELECTRIC SALES BY INTERCOMPANY OTHER TOTAL
<S> <C> <C> <C>
PECO Energy Co. - 21,167,907,322(a) 21,167,907,322
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. 2,372,033,166 10,120,656 2,382,153,822
<FN>
Note: (a) - PECO Energy Company also had a delivery of 934,833,000
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 using the purchased and interchange power account.
</FN>
MCF OF GAS DISTRIBUTED AT WHOLESALE
GAS SALES BY
PECO Energy Co. None
</TABLE>
<PAGE>
(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 INTERCOMPANY OTHER TOTAL
BY
<S> <C> <C> <C>
PECO Energy Co. 2,372,033,166 2,000,000,000(a)* 4,372,033,166
PECO Energy
Power Co. - - -
Susquehanna
Power Co. - - -
Susquehanna
Electric Co. - - -
* Estimated
<FN>
Note: (a) - PECO Energy Company also received 18,861,000,000 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 using
the purchased and interchange power account.
</FN>
GAS PURCHASES MMCF OF GAS PURCHASED AT STATE LINE
BY
PECO Energy Co. 59,416,032
</TABLE>
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
<PAGE>
(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 retained earnings of Claimant
and its subsidiary companies for the calendar year 1996, 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>
SIGNATURES
The above-named Claimant has caused this statement to be duly executed on its
behalf by its authorized officer on this 26th day of February, 1997.
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)
<TABLE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
Exhibit A
<CAPTION> 1 of 28
Consolidated Combined Totals PECO Energy
Totals Eliminations -------------- Company
------------- ------------ ------------
<S> <C> <C> <C> <C>
Operating Revenues
Electric $ 3,854,836 $ 40,846 $ 3,895,682 $ 3,853,315
Gas 428,814 - 428,814 428,814
Nonutility Subsidiaries 25,124 - 25,124 -
------------- ------------ ------------- ------------
Total Operating Revenues 4,308,774 40,846 4,349,620 4,282,129
------------- ------------ -------------- ------------
Operating Expenses
Fuel and Energy
Interchange 977,621 23,623 1,001,244 994,970
Other Operating 970,556 17,223 987,779 946,898
Maintenance 325,088 - 325,088 321,103
Depreciation 490,044 - 490,044 487,344
Income Taxes 341,448 - 341,448 335,988
Other Taxes 300,265 - 300,265 296,262
------------- ------------ -------------- ------------
Total Operating Expenses 3,405,022 40,846 3,445,868 3,382,565
------------- ------------ -------------- ------------
Operating Income 903,752 - 903,752 899,564
------------- ------------ -------------- ------------
Other Income and Deductions
Allowance for Other Funds
used During Construction
10,222 - 10,222 10,039
Equity in Subsidiary
Companies - 12,226 12,226 7,499
Income Taxes 3,004 - 3,004 4,457
Other, Net 1,272 30,072 31,344 (763)
------------- ------------ -------------- ------------
Total Other Income and
Deductions 14,498 42,298 56,796 21,232
------------- ------------ -------------- ------------
Income Before Interest Charges 918,250 42,298 960,548 920,796
------------- ------------ -------------- ------------
Interest Charges
Long-Term Debt 330,161 - 330,161 328,517
Short-Term Debt 53,885 30,072 83,957 57,894
Dividends on Preferred
Securities of
Subsidiary 26,723 - 26,723 26,723
Allowance for Borrowed
Funds Used During (9,724) - (9,724) (9,543)
Construction ------------ ------------ -------------- ------------
Net Interest Charges 401,045 30,072 431,117 403,591
------------ ------------ -------------- ------------
Net Income $ 517,205 $ 12,226 $ 529,431 $ 517,205
============ ============ ============== ============
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
<CAPTION> Exhibit A
2 of 28
Susquehanna Susquehanna PECO
PECO Energy Power Company Electric Company Energy Wireless
Power Company ------------ -------------- -------------
<S> <C> <C> <C> <C>
-------------
Operating Revenues
Electric $ 1,115 $ 16,383 $ 24,869 -
Gas - - - -
Nonutility Subsidiaries - - - -
------------- ------------ -------------- -------------
Total Operating Revenues 1,115 16,383 24,869 -
------------- ------------ -------------- -------------
Operating Expenses
Fuel and Energy Interchange
- - 1,033 -
Other Operating 4 (3) 19,585 -
Maintenance - - 3,624 -
Depreciation 45 1,612 - -
Income Taxes 387 6,761 (17) -
Other Taxes 292 2,348 644 -
------------- ------------ -------------- -------------
Total Operating Expenses 728 10,718 24,869 -
------------- ------------ -------------- -------------
Operating Income 387 5,665 - -
------------- ------------ -------------- -------------
Other Income and Deductions
Allowance for Other Funds
used During Construction
- 183 - -
Equity in Subsidiary
Companies 5,978 - - $ 120
Income Taxes - (38) (32) (42)
Other, Net (1) (11) 84 -
------------- ------------ -------------- -------------
Total Other Income and
Deductions 5,977 134 52 78
------------- ------------ -------------- -------------
Income Before Interest Charges 6,364 5,799 52 78
------------- ------------ -------------- -------------
Interest Charges
Long-Term Debt - - - -
Short-Term Debt - - 4 -
Dividends on Preferred
Securities of Subsidiary
- - - -
Allowance for Borrowed
Funds Used During - (181) - -
Construction ------------- ------------ -------------- -------------
Net Interest Charges - (181) 4 -
------------- ------------ -------------- -------------
Net Income $ 6,364 $ 5,980 $ 48 $ 78
============= ============ ============== =============
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
<CAPTION>
Exhibit A
3 of 28
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 - - - $ 63
------------- ------------ -------------- -------------
Total Operating Revenues - - - 63
------------- ------------ -------------- -------------
Operating Expenses
Fuel and Energy Interchange
- - - -
Other Operating $ 9 $ 225 $ 1 8
Maintenance - - - -
Depreciation - - - -
Income Taxes (14) - - (70)
Other Taxes - - - -
------------- ------------ -------------- -------------
Total Operating Expenses (5) 225 1 (62)
------------- ------------ -------------- -------------
Operating Income 5 (225) (1) 125
------------- ------------ -------------- -------------
Other Income and Deductions
Allowance for Other Funds
used During Construction
- - - -
Equity in Subsidiary
Companies (165) - (1,206) -
Income Taxes (1,341) - - -
Other, Net 4,005 27,649 - -
------------- ------------ -------------- -------------
Total Other Income and
Deductions 2,499 27,649 (1,206) -
------------- ------------ -------------- -------------
Income Before Interest Charges 2,504 27,424 (1,207) 125
------------- ------------ -------------- -------------
Interest Charges
Long-Term Debt - 40 - -
Short-Term Debt (1,490) 27,549 - -
Dividends on Preferred
Securities of
Subsidiary - - - -
Allowance for Borrowed
Funds Used During - - - -
Construction ------------- ------------ -------------- -------------
Net Interest Charges (1,490) 27,589 - -
------------- ------------ -------------- -------------
Net Income $ 3,994 $ (165) $ (1,207) $ 125
============= ============ ============== =============
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
<CAPTION>
Exhibit A
4 of 28
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 $ 5,634 $ 1,013 $ 13,251 $ 28
------------- ------------ -------------- -------------
Total Operating Revenues 5,634 1,013 13,251 28
------------- ------------ -------------- -------------
Operating Expenses
Fuel and Energy Interchange
- - - -
Other Operating 2,946 1,047 14,598 33
Maintenance 344 17 - -
Depreciation 779 38 176 50
Income Taxes (399) (9) (247) (48)
Other Taxes 683 31 - 2
------------- ------------ -------------- -------------
Total Operating Expenses 4,353 1,124 14,527 37
------------- ------------ -------------- -------------
Operating Income 1,281 (111) (1,276) (9)
------------- ------------ -------------- -------------
Other Income and Deductions
Allowance for Other Funds
used During Construction
- - - -
Equity in Subsidiary
Companies - - - -
Income Taxes - - - -
Other, Net - - 379 2
------------- ------------ -------------- -------------
Total Other Income and
Deductions - - 379 2
------------- ------------ -------------- -------------
Income Before Interest Charges 1,281 (111) (897) (7)
------------- ------------ -------------- -------------
Interest Charges
Long-Term Debt 1,297 - 307 -
Short-Term Debt - - - -
Dividends on Preferred
Securities of Subsidiary
- - - -
Allowance for Borrowed
Funds Used During - - - -
Construction ------------- ------------ -------------- -------------
Net Interest Charges 1,297 - 307 -
------------- ------------ -------------- -------------
Net Income $ (16) $ (111) $ (1,204) $ (7)
============= ============ ============== =============
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company Subsidiary Companies
Consolidating Statement of Income
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
Exhibit A
<CAPTION>
5 of 28
Horizon Energy Energy
Company Trading
------------ Exelon Company
---------- ----------
<S> <C> <C> <C>
Operating Revenues
Electric - - $ -
Gas - - -
Nonutility Subsidiaries $ 5,135 - -
------------ ---------- ----------
Total Operating Revenues 5,135 - -
------------ ---------- ----------
Operating Expenses
Fuel and Energy Interchange 5,241 - -
Other Operating 267 $ 2,161 -
Maintenance - - -
Depreciation - - -
Income Taxes (128) (756) -
Other Taxes 3 - -
------------ ---------- ----------
Total Operating Expenses 5,383 1,405 -
------------ ---------- ----------
Operating Income (248) (1,405) -
------------ ---------- ----------
Other Income and Deductions
Allowance for Other Funds
used During Construction - - -
Equity in Subsidiary
Companies - - -
Income Taxes - - -
Other, Net - - -
------------ ---------- ----------
Total Other Income and
Deductions - - -
------------ ---------- ----------
Income Before Interest Charges (248) (1,405) -
------------ ---------- ----------
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 $ (248) $ (1,405) $ -
============ ========== ==========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
<CAPTION>
Exhibit A
6 of 28
PECO
Consolidated Combined Energy
Totals Eliminations Totals Company
<S> <C> <C> <C> <C>
Balance at January 1, 1996 $1,023,708 - $1,023,708 $1,066,743
Additions:
Net Income for twelve months ended
December 31, 1996 (excluding
Equity In Earnings of Subsidiary
Companies) 517,205 - 517,205 509,587
Dividends Received from
Subsidiary Companies - $ 15,170 15,170 9,081
----------- ----------- ----------- -----------
Total Additions 517,205 15,170 532,375 518,668
----------- ----------- ----------- -----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock 275 - 275 275
Cash Dividend Declared
Preferred Stock 21,042 21,042 21,042
Common Stock 390,527 15,170 405,697 390,527
Divestment/Other - - - -
Issuance of Stock
Long-Term Incentive Plan 2,028 - 2,028 2,028
----------- ----------- ----------- -----------
Total Deductions 413,872 15,170 429,042 413,872
----------- ----------- ----------- -----------
Balance at December 31, 1996 $1,127,041 $ - $1,127,041 $1,171,539
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
<CAPTION>
Exhibit A
7 of 28
PECO
Energy Susquehanna Susquehanna PECO
Power Power Electric Energy
Company Company Company Wireless
<S> <C> <C> <C> <C>
Balance at January 1, 1996 $ 926 $ 6,450 $ (42) -
Additions:
Net Income for twelve months ended
December 31, 1996 (excluding
Equity In Earnings of Subsidiary
Companies) 386 5,979 48 $ 78
Dividends Received from
Subsidiary Companies 5,983 - - -
----------- ----------- ----------- -----------
Total Additions 6,369 5,979 48 78
----------- ----------- ----------- -----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock - - - -
Cash Dividend Declared
Preferred Stock - - - -
Common Stock 6,347 5,983 - -
Divestment/Other - - - -
Issuance of Stock
Long-Term Incentive Plan - - - -
----------- ----------- ----------- -----------
Total Deductions 6,347 5,983 - -
----------- ----------- ----------- -----------
Balance at December 31, 1996 $ 948 $ 6,446 $ 6 $ 78
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
Exhibit A
8 of 28
<CAPTION>
PECO
PECO Energy Eastern
Energy Capital Pennsylvania Adwin
Capital Limited Development Investment
Partnership Company Company Corporation
<S> <C> <C> <C> <C>
Balance at January 1, 1996 $ (1,450) $ (10,491) $ 3,265 $ 222
Additions:
Net Income for twelve months ended
December 31, 1996 (excluding
Equity In Earnings of Subsidiary
Companies) 4,159 (165) (1) 125
Dividends Received from
Subsidiary Companies - - 106 -
----------- ----- -------- ----- ------ ----------
Total Additions 4,159 (165) 105 125
----------- ----- -------- ----- ------ ----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock - - - -
Cash Dividend Declared
Preferred Stock - - - -
Common Stock 2,734 - - 347
Divestment/Other - - - -
Issuance of Stock
Long-Term Incentive Plan - - - -
----------- ------ -------- ---- ------ ----------
Total Deductions 2,734 - - 347
----------- ------ -------- ---- ------ ----------
Balance at December 31, 1996 $ (25) $ (10,656) $ 3,370 $ -
=========== ============== =========== ==========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
Exhibit A
9 of 28
<CAPTION>
Energy Eastern
Adwin Adwin Performance Pennsylvania
Realty Equipment Services Exploration
Company Company Incorporated Company
<S> <C> <C> <C> <C>
Balance at January 1, 1996 $ (15,116) $ (5,746) $ (4,627) $ (16,426)
Additions:
Net Income for twelve months ended
December 31, 1996 (excluding
Equity In Earnings of Subsidiary
Companies) (16) (111) (1,204) (7)
Dividends Received from
Subsidiary Companies - - - -
----------- --- -------- --- -------- ----------
Total Additions (16) (111) (1,204) (7)
----------- ----------- ----------- ----------
Deductions:
Expenses in Connection with Issuance
of Preferred Stock - - - -
Cash Dividend Declared
Preferred Stock - - - -
Common Stock (241) - - -
Divestment/Other - - - -
Issuance of Stock
Long-Term Incentive Plan - - - -
----------- --- -------- --- -------- -----------
Total Deductions (241) - - -
----------- --- -------- --- -------- ----------
Balance at December 31, 1996 $ (14,891) $ (5,857) $ (5,831) $ (16,433)
=========== === ======== === ======== ==========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiaries
Consolidating Statement of Unappropriated Retained Earnings
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
Exhibit A
10 of 28
<CAPTION>
Horizon Energy
Energy Trading
Company Exelon Company
<S> <C> <C> <C>
Balance at January 1, 1996 $ - - $ -
Additions:
Net Income for twelve months ended
December 31, 1996 (excluding
Equity In Earnings of Subsidiary
Companies) (248) $ (1,405) -
Dividends Received from
Subsidiary Companies - - -
----------- -------- --------
Total Additions (248) (1,405) -
----------- -------- --------
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, 1996 $ (248) $ (1,405) $ -
=========== ========= =========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
11 of 28
<CAPTION>
PECO
Consolidated Combined Energy
Totals Eliminations Totals Company
<S> <C> <C> <C> <C>
Assets
Utility Plant, at Original Cost
Electric $13,622,379 - $13,622,379 $13,494,402
Gas 1,005,507 - 1,005,507 1,005,507
Common 371,563 - 371,563 317,065
----------- ----------- ----------- -----------
14,999,449 - 14,999,449 14,816,974
Less: Accumulated Provision
for Depreciation 5,069,358 - 5,069,358 5,010,636
----------- ----------- ----------- -----------
9,930,091 - 9,930,091 9,806,338
Nuclear Fuel, Net 199,579 - 199,579 199,579
Construction Work in Progess 661,870 - 661,870 648,692
Leased Property, Net 182,088 - 182,088 182,088
----------- ----------- ----------- -----------
Net Utility Plant 10,973,628 - 10,973,628 10,836,697
----------- ----------- ----------- -----------
Current Assets
Cash and Temporary Cash Investments 40,153 - 40,153 21,207
Accounts Receivable, Net
Customers 23,609 - 23,609 19,127
Other 77,896 $ 349,275 427,171 76,650
Inventories, at Average Cost
Fossil Fuel 84,633 - 84,633 84,633
Materials and Supplies 119,743 - 119,743 119,320
Deferred Energy Costs - Gas 30,013 - 30,013 30,013
Other 63,945 - 63,945 62,530
----------- ----------- ----------- ----------
Total Current Assets 439,992 349,275 789,267 413,480
----------- ----------- ----------- ----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes 2,325,721 - 2,325,721 2,315,385
Deferred Limerick Costs 361,762 - 361,762 361,762
Deferred Non-pension Postretirement
Benefit Costs 233,492 - 233,492 232,901
Deferred Energy Costs - Electric 92,021 - 92,021 92,021
Investments 404,261 (55) 404,206 337,877
Investments in Subsidiary Companies - 398,105 398,105 243,838
Loss on Reacquired Debt 283,853 - 283,853 283,853
Other 170,372 - 170,372 168,912
----------- ----------- ----------- -----------
Total Deferred Debits and
Other Assets 3,871,482 398,050 4,269,532 4,036,549
----------- ----------- ----------- -----------
Total $15,285,102 $ 747,325 $16,032,427 $15,286,726
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
12 of 28
<CAPTION>
PECO
Energy Susquehanna Susquehanna PECO
Power Power Electric Energy
Company Company Company Wireless
<S> <C> <C> <C> <C>
Assets
Utility Plant, at Original Cost
Electric $ 6,103 $ 121,873 $ 1 -
Gas - - - -
Common - - - -
----------- ----------- ----------- -----------
6,103 121,873 1 -
Less: Accumulated Provision
for Depreciation 644 35,669 - -
----------- ----------- ----------- -----------
5,459 86,204 1 -
Nuclear Fuel, Net - - - -
Construction Work in Progess - 13,133 45 -
Leased Property, Net - - - -
----------- ----------- ----------- -----------
Net Utility Plant 5,459 99,337 46 -
----------- ----------- ----------- -----------
Current Assets
Cash and Temporary Cash Investments 1,920 2,055 3,227 $ 1
Accounts Receivable, Net
Customers - - 32 -
Other 1,770 2,606 3,152 -
Inventories, at Average Cost
Fossil Fuel - - - -
Materials and Supplies - - 423 -
Deferred Energy Costs - - - -
Other 30 196 478 -
----------- ----------- ----------- ----------
Total Current Assets 3,720 4,857 7,312 1
----------- ----------- ----------- ----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes 78 10,445 (187) -
Deferred Limerick Costs - - - -
Deferred Non-pension Postretirement
Benefit Costs - - 591 -
Investments 385 992 - 51,004
Investments in Subsidiary Companies 93,709 - - -
Loss on Reacquired Debt - - - -
Other - 30 (801) -
----------- ----------- ----------- -----------
Total Deferred Debits and
Other Assets 94,172 11,467 (397) 51,004
----------- ----------- ----------- -----------
Total $ 103,351 $ 115,661 $ 6,961 $ 51,005
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
13 of 28
<CAPTION>
PECO
PECO Energy Eastern
Energy Capital Pennsylvania Adwin
Capital Limited Development Investment
Partnership Company Company Corporation
<S> <C> <C> <C> <C>
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 $ 815 $ 11 $ 4 -
Accounts Receivable, Net
Customers - - - -
Other 30,861 308,613 185 -
Inventories, at Average Cost
Fossil Fuel - - - -
Materials and Supplies - - - -
Deferred Energy Costs - - - -
Other - - - -
----------- ----------- ----------- ----------
Total Current Assets 31,676 308,624 189 -
----------- ----------- ----------- ----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes - - - -
Deferred Limerick Costs - - - -
Deferred Non-pension Postretirement
Benefit Costs - - - -
Investments - 28 -
Investments in Subsidiary Companies 17,935 - 42,523 -
Loss on Reacquired Debt - - - -
Other - 1,121 84 -
----------- ----------- ----------- -----------
Total Deferred Debits and
Other Assets 17,935 1,121 42,635 -
----------- ----------- ----------- -----------
Total $ 49,611 $ 309,745 $ 42,824 $ -
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
14 of 28
<CAPTION>
Energy Eastern
Adwin Adwin Performance Pennsylvania
Realty Equipment Services Exploration
Company Company Incorporated Company
<S> <C> <C> <C> <C>
Assets
Utility Plant, at Original Cost
Electric - - - -
Gas - - - -
Common $ 29,399 $ 398 $ 5,366 $ 19,335
----------- ----------- ----------- -----------
29,399 398 5,366 19,335
Less: Accumulated Provision
for Depreciation 1,844 66 1,164 19,335
----------- ----------- ----------- -----------
27,555 332 4,202 -
Nuclear Fuel, Net - - - -
Construction Work in Progess - - - -
Leased Property, Net - - - -
----------- ----------- ----------- -----------
Net Utility Plant 27,555 332 4,202 -
----------- ----------- ----------- -----------
Current Assets
Cash and Temporary Cash Investments 4,458 2,202 2,442 124
Accounts Receivable, Net
Customers 1,890 - 2,560 -
Other 295 369 61 -
Inventories, at Average Cost
Fossil Fuel - - - -
Materials and Supplies - - - -
Deferred Energy Costs - - - -
Other - 225 359 -
----------- ----------- ----------- ----------
Total Current Assets 6,643 2,796 5,422 124
----------- ----------- ----------- ----------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes - - - -
Deferred Limerick Costs - - - -
Deferred Non-pension Postretirement
Benefit Costs - - - -
Investments 4,512 2,184 6,766 -
Investments in Subsidiary Companies - - - -
Loss on Reacquired Debt - - - -
Other - - 270 -
----------- ----------- ----------- -----------
Total Deferred Debits and
Other Assets 4,512 2,184 7,036 -
----------- ----------- ----------- -----------
Total $ 38,710 $ 5,312 $ 16,660 $ 124
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiaries
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
15 of 28
<CAPTION>
Horizon Energy
Energy Trading
Company Exelon Company
<S> <C> <C> <C>
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 $ 987 - $ 700
Accounts Receivable, Net
Customers - - -
Other 2,609 - -
Inventories, at Average Cost
Fossil Fuel - - -
Materials and Supplies - - -
Deferred Energy Costs - - -
Other 127 - -
----------- ---------- ---------
Total Current Assets 3,723 - 700
----------- ---------- ---------
Deferred Debits and Other Assets
Recoverable Deferred Income Taxes - - -
Deferred Limerick Costs - - -
Deferred Non-pension Postretirement
Benefit Costs - - -
Investments 458 - -
Investments in Subsidiary Companies 100 - -
Loss on Reacquired Debt - - -
Other - $ 756 -
----------- ----------- ----------
Total Deferred Debits and
Other Assets 558 756 -
----------- ----------- ----------
Total $ 4,281 $ 756 $ 700
=========== =========== ==========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
16 of 28
<CAPTION>
PECO
Consolidated Combined Energy
Totals Eliminations Totals Company
<S> <C> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 3,517,614 $ 122,648 $ 3,460,262 $ 3,517,614
Other Paid-in Capital 1,326 329,882 331,208 1,271
Retained Earnings 1,127,041 (54,540) 1,072,501 1,137,413
----------- ----------- ----------- -----------
4,645,981 397,990 5,043,971 4,656,298
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 302,182 - 302,182 -
Long-Term Debt 3,941,232 308,614 4,249,846 4,244,128
Advances from Subsidiary Companies - 30,921 30,921 30,861
----------- ----------- ----------- -----------
Total Capitalization 9,181,462 737,525 9,918,987 9,223,354
----------- ----------- ----------- -----------
Current Liabilities
Notes Payable, Bank 287,500 - 287,500 287,500
Long-Term Debt Due Within One Year 293,408 - 293,408 283,303
Capital Lease Obligations Due Within
One Year 49,347 - 49,347 49,347
Accounts Payable 219,298 9,800 229,098 215,793
Taxes Accrued 71,856 - 71,856 66,930
Interest Accrued 82,007 - 82,007 82,017
Dividends Payable 22,407 - 22,407 22,407
Other 94,562 - 94,562 93,657
----------- ----------- ----------- -----------
Total Current Liabilities 1,120,385 9,800 1,130,185 1,100,954
----------- ----------- ----------- -----------
Deferred Credits and Other Liabilities
Capital Lease Obligations 132,741 - 132,741 132,741
Deferred Income Taxes 3,746,886 - 3,746,886 3,730,023
Unamortized Investment Tax Credits 336,132 - 336,132 335,199
Pension Obligation for Early
Retirement Plan 224,454 - 224,454 223,138
Non-Pension Postretirement Benefits
Obligation 315,058 - 315,058 314,466
Other 227,984 - 227,984 226,851
----------- ----------- ----------- -----------
Total Deferred Credits and
Other Liabilities 4,983,255 - 4,983,255 4,962,418
----------- ----------- ----------- -----------
Total $15,285,102 $ 747,325 $16,032,427 $15,286,726
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
17 of 28
<CAPTION>
PECO
Energy Susquehanna Susquehanna PECO
Power Power Electric Energy
Company Company Company Wireless
<S> <C> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 24,600 $ 47,048 $ 10 $ 50,885
Other Paid-in Capital 68,740 40,215 1,050 -
Retained Earnings 7,393 6,446 6 78
----------- ----------- ----------- -----------
100,733 93,709 1,066 50,963
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 100,733 93,709 1,126 50,963
----------- ----------- ----------- -----------
Current Liabilities
Notes Payable, Bank - - - -
Long-Term Debt Due Within One Year - - - -
Capital Lease Obligations Due Within
One Year - - - -
Accounts Payable 1,679 2,040 2,728 -
Taxes Accrued 584 4,144 (13) (493)
Interest Accrued (5) (5) - -
Dividends Payable - - - -
Other 9 - 686 -
----------- ----------- ----------- -----------
Total Current Liabilities 2,267 6,179 3,401 (493)
----------- ----------- ----------- -----------
Deferred Credits and Other Liabilities
Capital Lease Obligations - - - -
Deferred Income Taxes 351 14,840 (507) 535
Unamortized Investment Tax Credits - 933 - -
Pension Obligation for Early
Retirement Plan - - 1,316 -
Non-Pension Postretirement Benefits
Obligation - - 592 -
Other - - 1,033 -
----------- ----------- ----------- -----------
Total Deferred Credits and
Other Liabilities 351 15,773 2,434 535
----------- ----------- ----------- -----------
Total $ 103,351 $ 115,661 $ 6,961 $ 51,005
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
18 of 28
<CAPTION>
PECO
PECO Energy Eastern
Energy Capital Pennsylvania Adwin
Capital Limited Development Investment
Partnership Company Company Corporation
<S> <C> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock - - $ 1 $ -
Other Paid-in Capital $ 49,063 $ 18,219 61,747 -
Retained Earnings (308) (10,656) (23,208) -
----------- ----------- ----------- -----------
48,755 7,563 38,540 -
Preferred and Preference Stock
Without Mandatory Redemption - - - -
With Mandatory Redemption - - - -
Minority Interest in Preferred
Securities of Subsidiaries - 302,182 - -
Long-Term Debt - - 4,100 -
Advances from Subsidiary Companies - - - -
----------- ----------- ----------- -----------
Total Capitalization 48,755 309,745 42,640 -
----------- ----------- ----------- -----------
Current Liabilities
Notes Payable, Bank - - - -
Long-Term Debt Due Within One Year - - - -
Capital Lease Obligations Due Within
One Year - - - -
Accounts Payable 526 - 22 -
Taxes Accrued 330 - 1 -
Interest Accrued - - - -
Dividends Payable - - - -
Other - - 161 -
----------- ----------- ----------- -----------
Total Current Liabilities 856 - 184 -
----------- ----------- ----------- -----------
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 $ 49,611 $ 309,745 $ 42,824 $ -
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
19 of 28
<CAPTION>
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 43,809 10,634 14,655 16,544
Retained Earnings (14,891) (5,857) (5,830) (16,433)
----------- ----------- ----------- -----------
28,919 4,778 8,826 112
Preferred and Preference Stock
Without Mandatory Redemption - - - -
With Mandatory Redemption - - - -
Minority Interest in Preferred
Securities of Subsidiaries
Long-Term Debt - - 1,618 -
Advances from Subsidiary Companies - - - -
----------- ----------- ----------- -----------
Total Capitalization 28,919 4,778 10,444 112
----------- ----------- ----------- -----------
Current Liabilities
Notes Payable, Bank - - - -
Long-Term Debt Due Within One Year 8,697 - 1,408 -
Capital Lease Obligations Due Within
One Year - - - -
Accounts Payable 462 390 3,226 -
Taxes Accrued 361 - - 12
Interest Accrued - - - -
Dividends Payable - - - -
Other 253 - - -
----------- ----------- ----------- -----------
Total Current Liabilities 9,773 390 4,634 12
----------- ----------- ----------- -----------
Deferred Credits and Other Liabilities
Capital Lease Obligations - - - -
Deferred Income Taxes 18 44 1,582 -
Unamortized Investment Tax Credits - - - -
Pension Obligation for Early
Retirement Plan - - - -
Non-Pension Postretirement Benefits
Obligation - - - -
Other - 100 - -
----------- ----------- ----------- -----------
Total Deferred Credits and
Other Liabilities 18 144 1,582 -
----------- ----------- ----------- -----------
Total $ 38,710 $ 5,312 $ 16,660 $ 124
=========== =========== =========== ===========
</TABLE>
<PAGE>
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet
December 31, 1996
(Thousands of Dollars)
Exhibit A
20 of 28
<CAPTION>
Horizon Energy
Energy Trading
Company Exelon Company
<S> <C> <C> <C>
Capitalization and Liabilities
Capitalization
Common Shareholders' Equity
Common Stock $ 100 - -
Other Paid-in Capital 2,400 $ 2,161 $ 700
Retained Earnings (247) (1,405) -
----------- --------- ---------
2,253 756 700
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 2,253 756 700
----------- --------- ---------
Current Liabilities
Notes Payable, Bank - - -
Long-Term Debt Due Within One Year - - -
Capital Lease Obligations Due Within
One Year - - -
Accounts Payable 2,232 - -
Taxes Accrued - - -
Interest Accrued - - -
Dividends Payable - - -
Other (204) - -
----------- --------- ---------
Total Current Liabilities 2,028 - -
----------- --------- ---------
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 $ 4,281 $ 756 $ 700
=========== ========= =========
</TABLE>
<PAGE>
Exhibit A
21 of 28
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Income Eliminations
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
<CAPTION>
Elimination No. 1 Debit Credit
- ----------------- ---------- ----------
<S> <C> <C>
Operating Revenue $ 40,846
Operating Expense $ 40,846
For eliminating intercompany transactions with respect to sales of energy and
rentals, as follows:
Operating Operating
Revenue Expenses
---------- ----------
Susquehanna Power Company $ 16,383
Rental of generating and transmission
facilities to Susquehanna Electric
Company $ 16,383
Susquehanna Electric Company 23,623
Sales of electric energy to PECO 23,623
Energy Company
PECO Energy Power Company 840
Rental of transmission facilities to 840
PECO Energy Company
--------- ---------
$ 40,846 $ 40,846
========= =========
</TABLE>
<PAGE>
Exhibit A
22 of 28
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Statement of Income Eliminations
Twelve Months Ended December 31, 1996
(Thousands of Dollars)
<CAPTION>
Elimination No. 2 Debit Credit
- ----------------- ---------- ----------
<S> <C> <C>
Other Income and Deductions $ 42,298
Interest Charges $ 30,072
Equity in Earnings of Subsidiary Companies 12,226
For eliminating intercompany items in connection with interest on notes and
subsidiary earnings as follows:
Equity in
Earnings of
Other Interest Subsidiary
Income Charges Companies
-------- -------- ------------
PECO Energy Company $ (1,486) - -
Interest from Susquehanna Electric Company - $ 4 -
Interest from PECO Energy Capital Corporation - (1,490) -
PECO Energy Capital Corporation 4,009 - -
Interest from PECO Energy Capital Limited
Partnership - 40 -
Interest from PECO Energy Company - 3,969 -
PECO Energy Capital Limited Partnership 27,549 - -
Interest from PECO Energy Company - 27,549 -
PECO Energy Company 7,618 - -
Equity in Earnings of Subsidiary Companies
PECO Energy Power Company - - $ 6,364
Susquehanna Electric Company - - 48
PECO Energy Wireless - - 78
PECO Energy Capital Corporation - - 3,994
Eastern Pennsylvania Development Company - - (1,206)
Eastern Pennsylvania Exploration Company - - (7)
Horizon Energy Company - - (248)
Exelon - - (1,405)
PECO Energy Capital Corporation (165) - -
Equity in Earnings of Subsidiary Company
PECO Energy Capital Limited Partnership - - (165)
PECO Energy Power Company 5,979 - -
Equity in Earnings of Subsidiary Company
Susquehanna Power Company - - 5,979
Eastern Pennsylvania Development Company (1,206) -
Equity in Earnings of Subsidiary Companies
Adwin Investment Company - - 125
Adwin Realty Company - - (16)
Adwin Equipment Company - - (111)
Energy Performance Services Incorporated - - (1,204)
-------- -------- --------
$ 42,298 $ 30,072 $ 12,226
======== ======== ========
</TABLE>
<PAGE>
Exhibit A
23 of 28
<TABLE>
PECO Energy Company and Subsidiary Companies
Note to Financial Statements
December 31, 1996
(Thousands of Dollars)
<CAPTION>
1. Utility Plant in the balance sheet consists of the following:
Company Consolidated
------------- -------------
Plant at Original Cost
<S> <C> <C>
Electric $ 13,494,402 $ 13,622,379
Gas 1,005,507 1,005,507
Common, Used in All Services 317,065 371,563
------------- -------------
$ 14,816,974 $ 14,999,449
============= =============
</TABLE>
<PAGE>
Exhibit A
24 of 28
<TABLE>
PECO Energy Company and Subsidiary Companies
Schedule of Capital Stock
December 31, 1996
<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 500,000,000 222,542,087 3,517,614
----------- ----------- -----------
Total Capital Stock $ 3,809,681
===========
<FN>
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
</FN>
</TABLE>
<PAGE>
<TABLE>
Exhibit A
25 of 28
PECO Energy Company and Subsidiary Companies
Schedule of Long-Term Debt
December 31, 1996
(Thousands of Dollars)
<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 $ 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 -
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 44,688 4,063
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 -
------------ ------------
3,786,018 79,063
Medium-Term Notes 74,400 12,000
Notes Payable - Banks 175,000 175,000
Pollution Control Notes 212,705 17,240
Unamortized Premium on Long-Term Debt 8 -
Unamortized Discount on Long-Term Debt (29,314) -
------------ ------------
Total PECO Energy Company $ 4,218,817 $ 283,303
============ ============
</TABLE>
<PAGE>
Exhibit A
26 of 28
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet Eliminations
December 31,1996
(Thousands of Dollars)
<CAPTION>
Elimination 1 Debit Credit
- ------------- -------- --------
<S> <C>
Capital Stock - Subsidiary Companies, Consolidated $122,648
Investments in Capital Stock of Subsidiary Companies, Consolidated $122,648
</TABLE>
<TABLE>
<CAPTION>
For eliminating investments of PECO Energy Company and Subsidiary Companies,
consolidated, in Capital Stock of Subsidiary Companies as follows:
Stated Value
of Capital Stock Investment of
-------------- Owning Company
--------------
<S> <C>
Susquehanna Power Company $ 47,048 -
PECO Energy Power Company 24,600 $ 47,048
Susquehanna Electric Company 10 -
PECO Energy Capital Limited Partnership - -
PECO Energy Capital Corporation - -
Adwin Realty Company 1 -
Adwin Equipment Company 1 -
Energy Performance Services Incorporated 1 -
Eastern Pennsylvania Development Company 1 -
Eastern Pennsylvania Exploration Company 1 -
Horizon Energy Company 100 -
PECO Energy Wireless 50,885 -
PECO Energy Company - 75,600
-------- --------
$122,648 $122,648
======== ========
</TABLE>
<TABLE>
<CAPTION>
Elimination No. 2 Debit Credit
- ----------------- -------- --------
<S> <C> <C>
Paid-In Capital - Subsidiary Companies, Consolidated $329,882
Investments in Paid-In Capital of Subsidiary
Companies, Consolidated $329,937
Other Investments (55)
For eliminating investments of PECO Energy Company and Subsidiary Companies,
consolidated, in Paid-In Capital of Subsidiary Companies as follows:
Paid-In Investment of Other
Capital Owning Company Investments
-------- -------------- -----------
Susquehanna Power Company $ 40,215 - -
PECO Energy Power Company 68,740 $ 40,215 -
Susquehanna Electric Company 1,050 - -
PECO Energy Capital Limited Partnership 18,191 - $ (28)
PECO Energy Capital Corporation 49,036 18,219 (27)
Adwin Investment Company - - -
Adwin Realty Company 43,809 - -
Adwin Equipment Company 10,634 - -
Energy Performance Services Incorporated 14,655 - -
Eastern Pennsylvania Development Company 61,747 69,098 -
Eastern Pennsylvania Exploration Company 16,544 - -
PECO Energy Wireless - - -
Horizon Energy Company 2,400 - -
Exelon 2,161 - -
Energy Trading Company 700 - -
PECO Energy Company - 202,405 -
-------- -------- --------
$329,882 $329,937 $ (55)
======== ======== ========
</TABLE>
<PAGE>
Exhibit A
27 of 28
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet Eliminations
December 31,1996
(Thousands of Dollars)
<CAPTION>
Elimination 3 Debit Credit
- ------------- --------- ---------
<S> <C> <C>
Investments in Retained Earnings of Subsidiary Companies, Consolidated $ 54,540
Retained Earnings - Subsidiary Companies, Consolidated $ 54,540
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 $ 6,446 -
PECO Energy Power Company 7,393 $ 6,446
Susquehanna Electric Company 6 -
PECO Energy Capital Limited Partnership (284) -
PECO Energy Capital Corporation (308) (284)
Adwin Investment Company - -
Adwin Realty Company (14,891) -
Adwin Equipment Company (5,857) -
Energy Performance Services Incorporated (5,830) -
Eastern Pennsylvania Development Company (23,208) (26,578)
Eastern Pennsylvania Exploration Company (16,433) -
PECO Energy Wireless 78 -
Horizon Energy Company (247) -
Exelon (1,405) -
PECO Energy Company - (34,124)
------------ ------------
$ (54,540) $ (54,540)
============ ============
</TABLE>
<TABLE>
<CAPTION>
Elimination No. 4
- -----------------
Long-Term Debt - Advances from Subsidiary Companies, Consolidated $ 30,921
Long-Term Debt - Debentures from Subsidiary Companies, Consolidated 308,614
Accounts Receivable - Associated Companies, Consolidated $339,475
Investments in Indebtedness of Subsidiary Companies, Consolidated 60
For eliminating investments of PECO Energy Company and Subsidiary Companies,
consolidated, in indebtedness of Subsidiary Companies as follows:
Other Accounts
Receivable Investments of
Advances Debentures ------------ Owning Company
-------- ---------- --------------
<S> <C> <C> <C> <C>
Susquehanna Electric Company $ 60 - - -
PECO Energy Capital Limited Partnership - - $ 308,614 -
PECO Energy Capital Corporation - - 30,861 -
PECO Energy Company 30,861 $ 308,614 - $ 60
-------- ---------- ------------ -------------
$ 30,921 $ 308,614 $ 339,475 $ 60
======== ========== ============ =============
</TABLE>
<PAGE>
Exhibit A
28 of 28
<TABLE>
PECO Energy Company and Subsidiary Companies
Consolidating Balance Sheet Eliminations
December 31,1996
(Thousands of Dollars)
<CAPTION>
Elimination No. 5 Debit Credit
- ----------------- -------- --------
<S> <C> <C>
Accounts Payable - Associated Companies, Consolidated $ 9,800
Other Deferred Debits -
Accounts Receivable - Associated Companies, Consolidated $ 9,800
For adjusting and eliminating intercompany Accounts Payable, as follows:
Accounts Accounts Other
Payable Receivable Deferred Debits
-------- ---------- ---------------
<S> <C> <C> <C>
Susquehanna Power Company $ 1,852 $ 2,610 -
PECO Energy Power Company 1,673 1,683 -
Susquehanna Electric Company 2,935 2,792 -
PECO Energy Capital Corporation 526 - -
PECO Energy Company 2,814 2,715 -
Other Deferred Debits - - -
-------- -------- --------
$ 9,800 $ 9,800 -
======== ======== ========
</TABLE>
<TABLE> <S> <C>
<ARTICLE> OPUR3
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> DEC-31-1996
<BOOK-VALUE> PER-BOOK
<TOTAL-ASSETS> 15,285,102,000
<TOTAL-OPERATING-REVENUES> 4,308,774,000
<NET-INCOME> 517,205,000
</TABLE>
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