Exhibit 99.3
COMED RATE CASE DOCKET NO. 05-0597
ILLINOIS COMMERCE COMMISSION FINAL ORDER 7/26/06
ILLINOIS COMMERCE COMMISSION FINAL ORDER 7/26/06
SUMMARY
REVENUE REQUIREMENT & INCREASE
Revenue Requirement | Revenue Increase | |||||||
ICC Final Order | $1,586 million | $ | 8 | million | ||||
ALJ Proposed Order* | $1,742 million | $ | 164 | million | ||||
ComEd | $1,896 million | $ | 317 | million |
* | The revenue requirement of $1,742 million reflects the ALJ Proposed Order after adjustments. |
RATE BASE
Gross Plant | Net Plant | Rate Base | ||||||||||
ICC Final Order | $11,522 million | $6,927 million | $5,521 million | |||||||||
ALJ Proposed Order | $11,504 million | $6,909 million | $6,159 million | |||||||||
ComEd | $11,530 million | $6,935 million | $6,187 million |
PENSION ASSET
Allowance / Disallowance | ||||
ICC Final Order | Disallowed $853 million pension asset in rate base | |||
ALJ Proposed Order | Same as ComEd | |||
ComEd | Requested pension asset in rate base |
Reduction from ComEd’s Request ($317 million): $70 million
Page1
COMED RATE CASE DOCKET NO. 05-0597
ILLINOIS COMMERCE COMMISSION FINAL ORDER 7/26/06
ILLINOIS COMMERCE COMMISSION FINAL ORDER 7/26/06
SUMMARY (Continued)
RATE OF RETURN & CAPITAL STRUCTURE
Cost of | ||||||||||||||||
Capital Structure | LT Debt | ROE | ROR | |||||||||||||
ICC Final Order | Common Equity 42.86% | |||||||||||||||
Long-Term Debt 57.14% | 6.48 | % | 10.045 | % | 8.01 | % | ||||||||||
ALJ Proposed Order | Common Equity 46.00% | |||||||||||||||
Long-Term Debt 54.00% | 6.50 | % | 10.19 | % | 8.20 | % | ||||||||||
ComEd | Common Equity 54.20% | |||||||||||||||
Long-Term Debt 45.80% | 6.50 | % | 11.00 | % | 8.94 | % |
Reduction from ComEd’s Request ($317 million): $125 million
ADMINISTRATIVE & GENERAL EXPENSES
A&G Expense Recovery | ||||
ICC Final Order | $194 million | |||
ALJ Proposed Order | Same as ComEd | |||
ComEd | $255 million |
Reduction from ComEd’s Request ($317 million): $61 million
INCENTIVE COMPENSATION
Incentive Compensation Recovery | ||||
ICC Final Order | $10 million | |||
ALJ Proposed Order | Disallowed recovery of Incentive Compensation | |||
ComEd | $20 million |
Reduction from ComEd’s Request ($317 million): $10 million
Page 2
COMED RATE CASE DOCKET NO. 05-0597
ILLINOIS COMMERCE COMMISSION FINAL ORDER 7/26/06
ILLINOIS COMMERCE COMMISSION FINAL ORDER 7/26/06
SUMMARY (Continued)
ICC FINAL ORDER COMPARISON TO COMED’S ORIGINAL REQUEST;
APPROVED REVENUE INCREASE ($8 MILLION)
APPROVED REVENUE INCREASE ($8 MILLION)
Original Revenue Requirement Request | $ | 317 | million | |
Adjustments: | ||||
Rate of Return / Capital Structure | ($ | 125 | ) million | |
Pension Asset | ($ | 70 | ) million | |
A&G Expenses | ($ | 61 | ) million | |
Incentive Compensation | ($ | 10 | ) million | |
ComEd Adjustments | ($ | 38 | ) million | |
Miscellaneous Final Order Adjustments | ($ | 5 | ) million | |
Approved Increase in Rate Revenues | $ | 8 | million |
Page 3