Pricing Supplement No. 16                 Filing under Rule 424(b)(5)   
Dated 6/29/94                             Registration File No. 33-31436
(To Prospectus dated May 6, 1994)




                    $200 Million PECO Energy Company
               Collateralized Medium-Term Notes, Series A


Principal Amount:                         $10.0 Million


Interest Rate:                            6.96%


Stated Maturity:                          4/15/97


Issue Price (as a percentage of
   principal amount):                     100%


Selling Agent's Commission (%):           0.25%


Net proceeds to the Company (%):          99.75%


Settlement Date (original
   issue date):                           7/7/94


Additional terms:                         The Series A Notes are not
                                          callable prior to maturity.


Selling Agent:                            Goldman Sachs & Co.
Incorporated




As of the date of this Pricing Supplement, the aggregate principal
amount of the Series A Notes which have been sold is $184.8 million.