Business Context and Reporting Period
This Form 8-K is a joint current report filed by Commonwealth Edison Company (ComEd) and Exelon Corporation on September 15, 2006. The filing addresses a regulatory event involving the Illinois Commerce Commission (ICC) regarding ComEd's retail electricity supply.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on a regulatory event rather than financial performance data.
Material Changes
On September 15, 2006, the ICC released the results of a descending clock auction competitive bidding process. This auction was conducted to determine the suppliers for ComEd's entire retail load for the year 2007. The filing references a press release attached as Exhibit 99.1 for specific auction results.
Guidance, Outlook, and Risks
The filing includes standard forward-looking statements cautioning that actual results may differ materially due to risks and uncertainties. These risks are detailed in Exelon's 2005 Annual Report on Form 10-K (Item 1A Risk Factors) and specific notes in the financial statements (ComEd Note 17 and Exelon Note 20). The registrants do not undertake any obligation to update these forward-looking statements.
Investor Verification Checklist
- Review Exhibit 99.1 (ComEd Press Release) for specific details on the 2007 retail load auction winners and pricing.
- Consult Exelon's 2005 Form 10-K, Item 1A, for a comprehensive list of risk factors affecting the company.
- Verify the impact of the 2007 supply contracts on future earnings guidance in subsequent quarterly reports.