August 30, 2014 4:43 PM ET

Electric Utilities

Company Overview of PECO Energy Company

Company Overview

PECO Energy Company, a public utility, is engaged in the purchase and regulated retail sale of electricity, and the provision of transmission and distribution services to retail customers in southeastern Pennsylvania. It is also involved in the purchase and regulated retail sale of natural gas, and the provision of distribution services to retail customers in the Pennsylvania counties surrounding the Philadelphia city. The company provides electricity to approximately 1.6 million customers and natural gas to approximately 501,000 customers. Its electric distribution system comprises 12,989 circuit miles of overhead lines and 8,915 circuit miles of underground lines. The company was incorpora...

2301 Market Street

Philadelphia, PA 19103

United States

Founded in 1929

Phone:

215-841-4000

Key Executives for PECO Energy Company

Chief Executive Officer
Age: 61
Chief Financial Officer
Age: 50
Chief Operations Officer and Senior Vice President
Age: 48
Chief Executive Officer of Exelon Generation Company
Age: 48
Chief Executive Officer of Commonwealth Edison Company
Age: 55
Compensation as of Fiscal Year 2014.

PECO Energy Company Key Developments

PECO Energy Company Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

PECO Energy Company reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported operating revenues of $656 million compared with $672 million for the same period last year. Operating income was $134 million compared with $138 million for the same period last year. Income before income taxes was $107 million compared with $110 million for the same period last year. Net income attributable to common shareholders was $84 million compared with $72 million for the same period last year. For the six months, the company reported operating revenues of $1,649 million compared with $1,567 million for the same period last year. Operating income was $283 million compared with $341 million for the same period last year. Income before income taxes was $230 million compared with $287 million for the same period last year. Net income attributable to common shareholders was $173 million compared with $193 million for the same period last year.

PECO Energy Company Announces Board Changes

The Board of Directors of PECO Energy Company appointed Nicholas DeBenedictis to the company board to fill the vacancy on the company board that resulted from the resignation of Gov. Thomas J. Ridge. Mr. DeBenedictis also serves as a director of Exelon Corporation. Mr. DeBenedictis is not being appointed to any committees.

PECO Invests More Than $400,000 to Improve Natural Gas Service for Tredyffrin Township Customers

PECO recently completed the second of two natural gas projects in 2013, totaling more than $400,000 to expand capacity and improve service for natural gas customers in Tredyffrin Township, Chester County. The projects included the replacement of existing natural gas main and bare-steel service lines with new plastic pipe, which enhances safety, is more durable, and improves service. This year, work was completed along Central Avenue between N. Valley and Fennerton avenues, as well as along McMull Drive. The projects are part of nearly $90 million in capital investments PECO is making to its natural gas system this year. This includes inspecting equipment, completing necessary repairs or replacements, performing preventative maintenance work, and installing additional natural gas main and service lines to bring natural gas service to new customers.

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