UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
May 2, 2002
(Date of earliest event reported)
Commission File Name of Registrant; State of Incorporation; Address of IRS Employer
Number Principal Executive Offices; and Telephone Number Identification Number
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1-16169 EXELON CORPORATION 23-2990190
(a Pennsylvania corporation)
10 South Dearborn Street - 37th Floor
P.O. Box 805379
Chicago, Illinois 60680-5379
(312) 394-7398
333-385496 EXELON GENERATION COMPANY, LLC 23-3064219
(a Pennsylvania limited liability company)
300 Exelon Way
Kennett Square, Pennsylvania 19348
(610) 765-8200
Item 5. Other Events
On April 29, 2002 Exelon Corporation issued the following press release.
EXELON [LOGO]
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News Release
From: Exelon Generation FOR IMMEDIATE RELEASE
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300 Exelon Way Date: April 29, 2002
Kennett Square, Pa., 19348
Contact: Ben Armstrong, 610-765-6914
EXELON, TXU COMPLETE SALE OF TWO TEXAS POWER PLANTS
Dallas, Texas, April 29, 2002 - Exelon Generation (NYSE: EXC) and TXU Corp.
(NYSE:TXU) today announced the completion of the sale of two TXU Energy power
plants located in the Dallas and Fort Worth areas to Exelon for $443 million.
The sales agreement was first announced in December 2001.
The sale includes the 893-megawatt Mountain Creek Steam Electric Station in
Dallas and the 1,441-megawatt Handley Steam Electric Station in Fort Worth.
Exelon Generation now holds the operating permits for Mountain Creek and Handley
Generating Stations. Exelon Power, the fossil and hydro operating unit within
Exelon Generation, will operate the two natural gas fired facilities. Exelon
Power Team will market the output of the two facilities.
"Producing electricity in a safe, reliable and environmentally sound manner is
the foundation of Exelon's operating principles," said Christine Jacobs,
president of Exelon Power.
"The addition of these two facilities expand Power Team's national portfolio and
further strengthens our abilities within the ERCOT (Electric Reliability Counsel
of Texas, Inc.) system," said Ian McLean, president of Exelon Power Team.
"The sale of these two plants allows TXU Energy to carry out its strategy of
expanding beyond Texas," said Brian Dickie, president North America, TXU Energy.
"We plan to move forward in building dynamic energy portfolios in the Northeast
and Midwest. TXU Energy's strong commitment and experience in the Texas energy
market will serve as a foundation for success in North America."
The sale will provide the Mountain Creek and Handley Generating Station
employees with an opportunity to join Exelon, one of the nation's largest
utility services companies, one which is a major operator of fossil, hydro, and
nuclear generation facilities.
###
Exelon Generation Company, LLC, a subsidiary of Exelon Corporation,
headquartered in Chicago, is one of the largest competitive electric generation
companies in the United States, as measured by owned and controlled megawatts.
As of the end of 2001, Exelon Generation owned or was invested in approximately
40,000 megawatts of generating resources, through three business units: Exelon
Nuclear, which owns or has investments in 19 nuclear units in Illinois,
Pennsylvania and New Jersey, Exelon Power, which owns or has investments in
coal, natural gas, oil, landfill gas and hydro generation assets, consisting of
124 intermediate and peaking units, and Exelon Power Team, Exelon's wholesale
marketing and energy-based financial trading
Exelon Corporation
Page 2
operation, doing business in all of the contiguous 48 states and in Canada and
Mexico. In 2001, Exelon Generation, headquartered in Kennett Square, Pa., had
assets of $8.2 billion, revenues of $7.0 billion, and approximately 7,200
employees.
TXU is a global leader in electric and natural gas services, merchant energy
trading, energy marketing, energy delivery, telecommunications, and
energy-related services. With $42 billion in assets and $28 billion in annual
revenue, TXU is one of the most influential energy services companies in the
world. TXU is the number one competitive energy retailer in the United States
and one of the largest globally, owns or controls extensive competitive
generation around the world, and ranks among the top five energy traders
globally. TXU, which sells 335 million megawatt hours of electricity and 2.8
trillion cubic feet of natural gas annually, serves 11 million customers
worldwide, primarily in the US, Europe and Australia. Visit www.txu.com for more
information.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
EXELON CORPORATION
EXELON GENERATION COMPANY, LLC
/S/ Ruth Ann M. Gillis
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Ruth Ann M. Gillis
Senior Vice President and Chief Financial Officer
Exelon Corporation
May 2, 2002