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Recent Rate Cases

The following resources provide facts about active rate case proceedings at the state level for all operating companies held by Exelon. Please note that they do not include all of the activities that might impact Exelon’s future results of operations, financial condition and cash flows.

Delaware

DPL DE (Electric) Distribution Rate Case
Docket #: 16-0649

Test Year
2015 Calendar Year
Test Period
12 months actual
Requested Common Equity Ratio 
49.4%
Requested Rate of Return
ROE: 10.60%;    ROR: 7.19%
Proposed Rate Base (Adjusted)$846M
Requested Revenue Requirement Increase
$62.8M(1)
Residential Total Bill % Increase
7.25%
Notes
  • Procedural Schedule:  Evidentiary Hearings 3/7/17 – 3/9/17
  • 5/17/16 DPL DE filed application with the DPSC seeking increase in electric distribution base rates
  • 18 month forward looking reliability and other plant additions from January 2016 through June 2017 ($8.4M of Revenue Requirement based on 10.60% ROE) included in revenue requirement request
  • Includes the Pay as You Go Program, a proposed pilot program that would be cooperatively designed to use the capability of the AMI meters to offer a voluntary pre-paid metering option for customers
  • Q3 2017 - PSC order expected 

DPL DE (Gas) Distribution Rate Case
Docket #: 16-0650

Test Year
2015 Calendar Year
Test Period
12 months actual
Requested Common Equity Ratio 
49.4%
Requested Rate of Return
ROE: 10.60%;    ROR: 7.19%
Proposed Rate Base (Adjusted)
$362M
Requested Revenue Requirement Increase
$21.5M(1)
Residential Total Bill % Increase
10.40%
Notes
  • 5/17/16 DPL DE filed application with the DPSC seeking increase in gas distribution base rates
  • 18 month forward looking reliability and other plant additions from January 2016 through June 2017 ($3.4M of Revenue Requirement based on 10.60% ROE) included in revenue requirement request
  • Q3 2017 - PSC order expected 
(1) As permitted by Delaware law, Delmarva Power implemented interim rate increases of $2.5 million on July 16, 2016 and will implement full allowable rates on December 17, 2016, subject to refund

Illinois

ComEd April 2016 Distribution Formula Rate
Docket #: 16-0259

Filing Year
2015 Calendar Year Actual Costs and 2016 Projected Net Plant Additions are used to set the rates for calendar year 2017.  Rates currently in effect (docket 15-0287) for calendar year 2016 were based on 2014 actual costs and 2015 projected net plant additions.
Reconciliation Year
Reconciles Revenue Requirement reflected in rates during 2015 to 2015 Actual Costs Incurred.  Revenue requirement for 2015 is based on docket 14-0312 (2013 actual costs and 2014 projected net plant additions) approved in December 2014.
Common Equity Ratio ~ 46% for both the filing and reconciliation year
ROE
8.64% for the filing year (2015 30-yr Treasury Yield of 2.84% + 580 basis point risk premium) and 8.59% for the reconciliation year (2015 30-yr Treasury Yield of 2.79% + 580 basis point risk premium – 5 basis points performance metrics penalty).  For 2016 and 2017, the actual allowed ROE reflected in net income will ultimately be based on the average of the 30-year Treasury Yield during the respective years plus 580 basis point spread, absent any metric penalties  

Requested Rate of Return ~ 7% for both the filing and reconciliation years
Rate Base
$8,830 million– Filing year (represents projected year-end rate base using 2015 actual plus 2016 projected capital additions).  2016 and 2017 earnings will reflect 2016 and 2017 year-end rate base respectively.

$7,780 million - Reconciliation year (represents year-end rate base for 2015)
Revenue Requirement Decrease
$138M increase ($1M decrease due to the 2015 reconciliation and collar adjustment offset by a $139M increase related to the filing year).  The 2015 reconciliation impact on net income was recorded in 2015 as a regulatory asset.
Timeline
  • 04/13/16 Filing Date
  • 240 Day Proceeding 

Pennsylvania

PECO Electric Distribution Rate Case & Settlement
Docket #:R-2015-2468981

Fully Projected Future Test Year 2016 Calendar Year
Requested Revenue Requirement$190M
Requested Common Equity Ratio (1)53.36%
Requested Rate of ReturnROE: 10.95%; ROR: 8.19%
Proposed Rate Base$4.1B
Proposed Revenue Requirement Settlement Increase$127M
Authorized Returns (2)N/A
System Average Increase as % of overall bill2.9%
Timeline 
  • 3/27/15 – PECO filed electric distribution rate case with PaPUC
  • 12/17/15 – PaPUC Final Order
  • Increased rates effective on January 1, 2016

Maryland

BGE November Rate Case Filing
Docket #: 9406

Electric

gas

Test YearDecember 2014- November 2015December 2014- November 2015
Common Equity Ratio (1)
51.9%  
51.9%  
Authorized Returns
ROE: 9.75%; ROR: 7.28%
ROE: 9.65%; ROR: 7.23%
Requested Rate of Return
7.95%
7.90%
Rate Base (adjusted)
$2.9B 
$1.2B
Revenue Requirement Increase (1)
$41.7M
$47.8M
Distribution Increase as % of overall bill for residential customer
2%
6%
Notes
  • 11/06/15 BGE filed application with the MDPSC seeking increases in electric & gas distribution base rates; request was subsequently revised in Q1 to reflect impact of additional actual data
  • 6/03/16 PSC Order received 
  • 6/04/16 New rates in effect
  • Order concluded that BGE’s AMI system overall is cost beneficial to customers, however the PSC made decisions in the rate case related to smart meters that made BGE take a $84M write-off (resulting in a Q2 2016 impairment charge). The PSC also disallowed $30M of added costs associated with BGE’s usage of the Baltimore City conduit system.
  • 6/30/16 filed request for rate case re-hearing asking that the PSC reconsider decisions resulting in $84M write-off and the disallowance of $30M of added Baltimore City conduit system; Request would result in no additional increase to customer rates.  The PSC requested and received comments on the rehearing request from the other parties.
  • 7/29/2016 PSC issued order on rehearing granting further increase to electric revenue requirement of $2.4M and gas revenue requirement of $0.1M and to defer post test year smart grid costs in a new regulatory asset so it may seek recovery of the costs in a future base rate proceeding.  The rehearing decision will result in a reversal of the write-off of $32.4M.  The PSC did not revise its decision on the Baltimore City conduit fee increase

DPL MD Distribution Rate Case
Docket #: 9424

Test Year
April 1, 2015 – March 31, 2016
Test Period
12 months actual
Requested Common Equity Ratio 
49.1%
Requested Rate of ReturnROE: 10.60%;    ROR: 7.24%
Proposed Rate Base $744M 
Requested Revenue Requirement Increase
$66.2M 
Residential Total Bill % Increase14.5%
Notes
  • 7/20/16 DPL MD filed application with the MDPSC seeking increase in electric distribution base rates
  • Size of ask is driven by 3 years of capital investment, recovery of AMI investments and new depreciation rates
  • Extension of the Grid Resiliency Program to fund accelerated investments in grid resiliency, incremental to the capital plan (not included in revenue requirement request)  Capital $9.2 million (Feeder Work $4.2 million and Reclosing Devices $5.0 million) in 2017-2018
  • 12 month forward looking reliability and other plant additions from April 2016 through March 2017 ($8.2M of Revenue Requirement based on 10.60% ROE) included in revenue requirement request
  • 7 Month Proceeding
  • Q1 2017 - PSC order expected 
  • New rates are in effect shortly after the final order 


Pepco MD Electric Distribution Rate Case
Docket #: 9418

Test Year2015 Calendar Year
Test Period12 months actual
Requested Common Equity Ratio 
49.6%
Requested Rate of Return
ROE: 10.60%;    ROR: 8.01%
Proposed Rate Base (Adjusted)
$1.8B 
Requested Revenue Requirement Increase 
(Updated on May 27, 2016)
$126.6M 
Residential Total Bill % Increase
10.3%
Notes
  • 4/19/16 Pepco MD filed application with the MDPSC seeking increase in electric distribution base rates
  • Size of ask is driven by 2 years of capital investment, recovery of AMI investments and new depreciation rates
  • 12 month forward looking reliability and other plant additions from January 2016 through December 2016 ($20.0M of Revenue Requirement based on a 10.60% ROE) included in revenue requirement request
  • Extension of the Grid Resiliency Program to fund accelerated investments in grid resiliency, incremental to the capital plan (not included in revenue requirement request)
    • Capital $31.6 million (Feeder Work $24.0 million and Reclosing Devices $7.6 million) in 2017-2018
  • Procedural Schedule:
  • Evidentiary Hearings:  9/13/16 – 9/23/16
  • Final Reply Briefs:  10/26/16
  • Commission Order Expected:  11/15/16
  • New rates are in effect shortly after the final order 



New Jersey

ACE Electric Distribution Rate Case – Settlement
Docket #: ER16030252

Test Year2015 Calendar Year
Test Period12 months actual
Common Equity Ratio 
49.48%
Authorized Rate of Return
ROE: 9.75%;    ROR: 7.64%
Authorized Rate Base $1.2B 
Revenue Requirement Increase
$45M (excluding Sales & Use Tax)
Residential Total Bill % Increase
3.89%
Notes

  • 3/22/16 ACE filed application with the NJBPU seeking increase in electric distribution base rates
  • ACE to recover $17.9M in major storm costs, three year amortization, with no rate base treatment of unamortized balance.  
  • PowerAhead Program deferred to Phase II proceeding with parties agreeing to work toward resolution and approval by end of 2016. 
  • Economic Development Rate approved as pilot program.
  • Settlement Filed: 8/19/16
  • Commission Approved Settlement:  8/24/16


Washington D.C.

Pepco DC Distribution Rate Case
Docket #: 1139

Test Year
April 1, 2015 – March 31, 2016
Test Period
12 months actual
Requested Common Equity Ratio 49.14%
Requested Rate of ReturnROE: 10.60%;    ROR: 8.00%
Proposed Rate Base (Adjusted)$1.8B 
Requested Revenue Requirement Increase$85.5M 
Residential Total Bill % Increase5.25%(1)
Notes
  • 6/30/16 Pepco DC filed application with the DCPSC seeking increase in electric distribution base rates
  • Size of ask is driven by 3 years of capital investments
  • 18 month forward looking reliability and other plant additions from April 2016 through September 2017 ($30.2M of Revenue Requirement based on 10.60% ROE) included in revenue requirement request
  • The Merger Order provides for a Customer Base Rate Credit (CBRC) in the amount of $25.6M, which can be used to offset rate increases approved by the DCPSC; the parties will be provided an opportunity to propose how the CRBC and Incremental Offset be allocated and over what period of time
    • The DCPSC will ultimately decide how to allocate the CBRC
  • Q2/Q3 2017 - PSC order expected 
(1) As proposed by the Company, the full allocation of the CBRC to Residential and MMA customers, along with the proposal for a $1M Incremental Offset for residential customers, will ensure that residential customers do not receive an increase on the distribution portion of their bill until approximately January 2019 (February 2019 for MMA customers).  Upon expiration of the CBRC and Incremental Offset proposed by the Company, this rate increase would translate to a 5.25% total bill increase for a residential customer.