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8-K - FORM 8-K - COMMONWEALTH EDISON Cod8k.htm
EX-99.1 - PRESS RELEASE - COMMONWEALTH EDISON Codex991.htm
1
ComEd Electric Distribution Rate Case
June 30, 2010
Exhibit 99.2


2
Forward-Looking Statements
This presentation includes forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, that are subject to risks and
uncertainties. The factors that could cause actual results to differ materially from these
forward-looking statements include those discussed herein as well as those discussed
in (1) Exelon’s 2009 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b)
ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of
Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 18;
(2) Exelon’s First Quarter 2010 Quarterly Report on Form 10-Q in (a) Part II, Other
Information, ITEM 1A.  Risk Factors, (b) Part 1, Financial Information, ITEM 2.
Management’s Discussion and Analysis of Financial Condition and Results of
Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note
12 and (3) other factors discussed in filings with the Securities and Exchange
Commission (SEC) by Exelon Corporation and Commonwealth Edison Company
(Companies). Readers are cautioned not to place undue reliance on these forward-
looking statements, which apply only as of the date of this presentation. None of the
Companies undertakes any obligation to publicly release any revision to its forward-
looking statements to reflect events or circumstances after the date of this
presentation.


3
Delivery Service
Rate Case Filing Summary
$396
Total
($2,337
million
revenue
requirement)
(6)
$45
Other adjustments
(5)
$22
Bad debt costs (resets base level of bad debt to 2009 test year)
$55
Pension
and
Post-retirement
health
care
expenses
(4)
$95
Capital Structure
(3)
: ROE –
11.50% /
Common
Equity
47.33%
/
ROR
8.99%
$179
(2)
Rate Base: $7,717 million
(1)
Requested Revenue 
Increase
($ in millions)
Primary drivers of rate request are new plant investment, pension/retiree
health care and cost of capital
(1)
Filed
June
30,
2010
based
on
2009
test
year,
including
pro
forma
capital
additions
through
June
2011,
and
certain
other
2010
pro
forma
adjustments.
(2)
Includes increased depreciation expense.
(3)
Requested capital structure does not include goodwill; ICC docket 07-0566 allowed 10.3% ROE, 45.04% equity ratio and 8.36% ROR.
ROE includes 0.40% adder for energy efficiency incentive.
(4)
Reflects 2010 expense levels, compared to 2007 expense levels allowed in last rate case.
(5)
Includes reductions to O&M and taxes other than income, offset by wage increases, normalization of storm costs and the Illinois Electric
Distribution Tax, other O&M increases, and decreases in load.
(6)
Net of Other Revenues.
Note:  ROE = Return on Equity, ROR = Return on Rate Base.


4
Alternative Regulation (Alt Reg) Proposal
ComEd plans to make a companion Alt Reg filing proposing to recover the costs of smart
grid and other projects outside of the traditional rate case process
9-month statutory process
The
proposal
includes
a
“flow-through
mechanism”
to
recover
capital
carrying
costs
and
incremental O&M, as incurred
Costs and investments will be rolled in to future rate cases, when they occur
Assured
savings
to
customers
$2
million
on
capped
O&M
costs
for
program
costs
(excluding CARE)
Includes
an
incentive/penalty
mechanism
for
performance
above
or
under
budget
Alt Reg Proposal is permitted under ICC section 9-244
$30
$15
Man-hole refurbishment and cable replacement
-
$10
Expanded funding for low income CARE programs
$5
-
Electric Vehicle Fleet Purchase
$55
$40
-
$10
-
$20
Accelerated Smart Grid Deployment
190,000 additional AMI Meters and Outage Management
System Interface
Accelerated deployment of Distribution Automation
Customer Applications
Capital
O&M
$ millions


5
Residential Rate Design –
Straight Fixed/Variable Proposal
Filing includes a proposal to gradually move more of residential
delivery bill to the fixed
customer charge, rather than usage-based kwh component through three step phase-in
Current rate design:  37% fixed / 63% variable split
Proposed:  60%/40% split in June 2011; 70%/30% in June 2012, and
80%/20% in June 2013
Mitigates impact of weather and load fluctuations due to weather
and economy
Rate design reflects current cost structure and sends appropriate price signals
Fixed costs to be collected via fixed charges (i.e. Customer Charge, Meter Charge)
Variable costs to be collected via variable charges (i.e. per kWh)
Eliminates economic disincentive to promote energy efficiency
Proposed Straight Fixed/Variable rate design is consistent with ICC
orders in other recent cases


6
3.82
4.73
7.44
7.03
0.73
0.73
0.65
0.60
Residential Rate Impacts 2010 to 2011
(1)
(1)
Reflects change in distribution rates only.  Assumes Energy, Transmission and all other components remain constant as of June 2010,
except as noted above.
(2)
"All Other" includes impact of riders that are applicable to residential bills.
Unit rates: cents / kWh
All Other
(2)
Transmission
Energy
Distribution
Approximately
4% increase
July 1, 2010
July 1, 2011
Transmission: Subject to FERC
formula rate annual update.
Comments
Energy: Reflects reduced PJM capacity
price that PJM has published for the
June
2011
May
2012
planning
period.  Energy component may vary.
Distribution: As proposed.
12.63
13.09
Note:  Amounts may not add due to rounding.
Proposed residential rate impact of 7% will be mitigated by impact
of lower capacity prices resulting in an increase of 4%


7
Delivery Service Rate Case Filing –
Tentative Schedule
Delivery
Service
Rate
Case
Filed
June
30,
2010
Alt
Reg
Proposal
Filed
August
/
September
2010
Intervenor
and
Rebuttal
Testimony
4Q
2010
Hearings
December
2010
/
January
2011
Administrative
Law
Judge
Order
February
2011
Final
Order
Expected
May
2011
New
Rates
Effective
June
2011
Note:
Dates
are
based
on
typical
approach
to
rate
cases
but
the
Illinois
Commerce
Commission
(ICC)
will
set
the
actual
schedule,
which
is
expected
in
3Q
2010.