PECO ENERGY CO
8-K, 1998-05-15
ELECTRIC & OTHER SERVICES COMBINED
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                                    FORM 8-K





                       SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549




                                 CURRENT REPORT




                Pursuant to Section 13 or 15(d) of the Securities
                              Exchange Act of 1934




                          Date of Report: May 14, 1998




                               PECO ENERGY COMPANY
             (Exact name of registrant as specified in its charter)




                         PENNSYLVANIA 1-1401 23-0970240
                       (State or other (SEC (IRS Employer
                   jurisdiction of file number) Identification
                             incorporation) Number)




              230l Market Street, Philadelphia, Pennsylvania 19101
               (Address of principal executive offices) (Zip Code)




               Registrant's telephone number, including area code:
                                 (215) 841-4000



<PAGE>


Item 5.  Other Events
As previously reported,  on April 29, 1998, the Company and other parties to the
Company's restructuring  proceeding filed a Joint Petition for Settlement (Joint
Petition) with the Pennsylvania Public Utility Commission (PUC). The proceeding,
which  began  April 1,  1997  with the  Company's  filing  of its  comprehensive
restructuring  plan, is pursuant to the Electricity  Generation  Competition and
Customer Choice Act (Competition Act).

On May 14, 1998, the PUC unanimously  approved the Joint Petition and issued its
final order.



<PAGE>






                                   SIGNATURES




Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.




                                                             PECO ENERGY COMPANY


                                                           \S\ J. Barry Mitchell
                                                         -----------------------
                                                         Vice President, Finance
                                                                   and Treasurer

May 15, 1998










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