ComEd 2006 Annual Report Download - page 101

Equity in Losses of Unconsolidated Affiliates. The decrease in equity in losses of
unconsolidated affiliates was a result of a decrease in net interest expense of PETT due to scheduled
repayments of outstanding long-term debt.
Income Taxes. PECO’s effective income tax rate was 29.0% for 2006 compared to 32.2% for
2005. The lower effective tax rate in 2006 reflects investment tax credit and research and development
credit refunds in 2006. See Note 12 of the Combined Notes to Consolidated Financial Statements for
further details of the components of the effective income tax rates.
Cumulative Effect of a Change in Accounting Principle. The cumulative effect of a change in
accounting principle reflects the impact of adopting FIN 47 as of December 31, 2005. See Note 13 of the
Combined Notes to Consolidated Financial Statements for further discussion of the adoption of FIN 47.
PECO Electric Operating Statistics and Revenue Detail
PECO’s electric sales statistics and revenue detail are as follows:
Retail Deliveries—(in GWhs) 2006 2005 Variance % Change
Full service (a)
Residential ............................................ 12,796 13,135 (339) (2.6)%
Small commercial & industrial ............................ 7,818 7,263 555 7.6%
Large commercial & industrial ............................ 15,898 15,205 693 4.6%
Public authorities & electric railroads ...................... 906 962 (56) (5.8)%
Total full service ................................... 37,418 36,565 853 2.3%
Delivery only (b)
Residential ............................................ 61 334 (273) (81.7)%
Small commercial & industrial ............................ 671 1,257 (586) (46.6)%
Large commercial & industrial ............................ 35 503 (468) (93.0)%
Total delivery only .................................. 767 2,094 (1,327) (63.4)%
Total retail deliveries .................................. 38,185 38,659 (474) (1.2)%
(a) Full service reflects deliveries to customers taking electric service under tariffed rates.
(b) Delivery only service reflects customers receiving electric generation service from a competitive electric generation supplier.
Electric Revenue 2006 2005 Variance % Change
Full service (a)
Residential ............................................ $1,780 $1,705 $ 75 4.4%
Small commercial & industrial ............................ 943 818 125 15.3%
Large commercial & industrial ............................ 1,286 1,173 113 9.6%
Public authorities & electric railroads ...................... 83 84 (1) (1.2)%
Total full service ................................... 4,092 3,780 312 8.3%
Delivery only (b)
Residential ............................................ 5 25 (20) (80.0)%
Small commercial & industrial ............................ 36 63 (27) (42.9)%
Large commercial & industrial ............................ 1 13 (12) (92.3)%
Total delivery only .................................. 42 101 (59) (58.4)%
Total electric retail revenues ........................... 4,134 3,881 253 6.5%
Wholesale and miscellaneous revenue (c) ................... 238 212 26 12.3%
Total electric and other revenue ........................ $4,372 $4,093 $279 6.8%
(a) Full service revenue reflects revenue from customers taking electric service under tariffed rates, which includes the cost of
energy, the cost of the transmission and the distribution of the energy and a CTC.
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