UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
March 16, 2000
(Date of earliest
event reported)
PECO ENERGY COMPANY
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 1-1401 23-0970240
(State or other (Commission (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 March 16, 2000, the Pennsylvania Public Utility Commission (PUC) issued an
order approving a Joint Petition for Full Settlement of PECO Energy Company's
Application for Issuance of a Qualified Rate Order (QRO) authorizing PECO Energy
Company (the Company) to securitize up to an additional $1.0 billion of its
authorized recoverable stranded costs.
In accordance with the terms of the Joint Petition for Full Settlement, when the
QRO becomes final and non-appealable, the Company, through its distribution
business unit, will provide its retail customers with rate reductions in the
total amount of $60 million beginning on January 1, 2001. This rate reduction
will be effective for calendar year 2001 only and will not be contingent upon
the issuance of Transition Bonds pursuant to the QRO.
<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/ Jean H. Gibson
----------------------------
Vice President & Controller
March 21, 2000
