Exhibit 99
Summary of ComEd Delivery Services Rate Case Proposal filed with the Illinois Commerce Commission on 8/31/05:
Proposed | ICC Approved | |||||||||||||||
($ in millions) | 2005(1) | 2001(2) | Change | % | ||||||||||||
Revenue Requirement | $ | 1,895 | $ | 1,579 | (4) | $ | 317 | 20.0 | (5) | |||||||
Rate Base | $ | 6,189 | $ | 3,617 | $ | 2,572 | 71.1 | |||||||||
Cost of Capital | 8.94 | % | 8.99 | % | ||||||||||||
Debt / Equity Ratios | 46% / 54 | %(3) | 57% / 43 | % | ||||||||||||
Adjusted Debt Cost | 6.50 | % | 6.95 | % | ||||||||||||
Return on Equity | 11.00 | % | 11.72 | % | ||||||||||||
Operating Expenses | $ | 1,182 | $ | 1,114 | $ | 68 | 6.1 | |||||||||
(1) | Based on a 2004 actual test year, adjusted for known and measurable 2005 cost changes | |
(2) | From March 2003 Agreement | |
(3) | Capital structure at 6/30/05; common equity excludes $2.3 billion related to the purchase accounting step-up in equity from the Unicom/PECO merger (including goodwill) | |
(4) | 2004 revenue level at weather-normalized sales based on the rates approved in March 2003 | |
(5) | The overall bill impact on the average residential customer’s bill would be approximately 6% as the delivery services rate represents about one-third of the average residential customer’s total bill. |