Pricing Supplement No. 18                 Filing under Rule 424(b)(5)   
Dated 7/1/94                              Registration File No. 33-31436
(To Prospectus dated May 6, 1994)




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


Principal Amount:                         $2.0 Million


Interest Rate:                            7.00%


Stated Maturity:                          7/11/97


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


Selling Agent's Commission (%):           0.35%


Net proceeds to the Company (%):          99.65%


Settlement Date (original
   issue date):                           7/11/94


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


Selling Agent:                            Salomon Brothers Inc




As of the date of this Pricing Supplement, the aggregate principal
amount of the Series A Notes which have been sold is $199.2 million.






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