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: January 22, 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
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Item 5. Other Events
On January 21, 1998, the Company filed a complaint in the United States District
Court for the Eastern District of Pennsylvania seeking injunctive and monetary
relief on grounds that the Electricity Generation Customer Choice and
Competition Act (Competition Act) and its interpretation and implementation by
the Pennsylvania Public Utility Commission (PUC) in its December 23, 1997 and
January 16, 1998 Orders: (1) are preempted by Section 201(b) of the Federal
Power Act; (2) effect a taking of private property without just compensation in
violation of the Fifth and Fourteenth Amendments to the United States
Constitution; (3) violate the Due Process Clause, the Contract Clause and the
First Amendment of the United States Constitution; and (4) deprive rights
secured by 42 U.S.C. s.s. 1983.
On January 22, 1998, the Company will file two Pennsylvania Commonwealth Court
Petitions for Review, appealing the PUC's December 23, 1997 and January 16, 1998
Restructuring Orders. The petitions state that the PUC's Orders must be set
aside because they are based upon errors of law, are not supported by
substantial evidence, constitute an arbitrary and capricious abuse of
administrative discretion and deprive the Company of the due process of law, to
which it is entitled under Article I of the Pennsylvania Constitution.
Additionally, on January 22, 1998, the Company will file an Original
Jurisdiction Action with the Commonwealth Court, claiming that the Company was
deprived of due process of law.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PECO ENERGY COMPANY
\S\ J. Barry Mitchell
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Vice President, Finance
and Treasurer
January 22, 1998
