January 30, 2001

Board of Directors
PECO Energy Company
2301 Market Street
Philadelphia, PA 19101


Dear Directors:

We are  providing  this letter to you for  inclusion  as an exhibit to your Form
10-K filing pursuant to Item 601 of Regulation S-K.

We have audited the consolidated  financial statements included in the Company's
Annual  Report on Form 10-K for the year ended  December 31, 2000 and issued our
report  thereon  dated  January 30,  2001.  Note 4 to the  financial  statements
describes a change in  accounting  principle in  accounting  for nuclear  outage
costs from the accrue in advance method to expense as incurred method. It should
be understood that the preferability of one acceptable method of accounting over
another for  accounting  for nuclear  outage costs has not been addressed in any
authoritative accounting literature,  and in expressing our concurrence below we
have  relied  on  management's  determination  that this  change  in  accounting
principle is preferable. Based on our reading of management's stated reasons and
justification for this change in accounting  principle in the Form 10-K, and our
discussions  with  management as to their judgment  about the relevant  business
planning  factors  relating to the change,  we concur with  management that such
change represents, in the Company's circumstances,  the adoption of a preferable
accounting principle in conformity with Accounting  Principles Board Opinion No.
20.


Very truly yours,


PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania