ComEd 2006 Annual Report Download - page 121

Electric Revenue 2005 2004 Variance % Change
Full service (a)
Residential ............................................ $1,705 $1,317 $ 388 29.5%
Small commercial & industrial ............................ 818 756 62 8.2%
Large commercial & industrial ............................ 1,173 1,113 60 5.4%
Public authorities & electric railroads ...................... 84 80 4 5.0%
Total full service ................................... 3,780 3,266 514 15.7%
Delivery only (b)
Residential ............................................ 25 164 (139) (84.8)%
Small commercial & industrial ............................ 63 86 (23) (26.7)%
Large commercial & industrial ............................ 13 20 (7) (35.0)%
Total delivery only .................................. 101 270 (169) (62.6)%
Total electric retail revenues ........................... 3,881 3,536 345 9.8%
Wholesale and miscellaneous revenue (c) ................... 212 203 9 4.4%
Total electric and other revenue ........................ $4,093 $3,739 $ 354 9.5%
(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.
(b) Delivery only revenue reflects revenue from customers receiving generation service from a competitive electric generation
supplier, which includes a distribution charge and a CTC.
(c) Wholesale and miscellaneous revenues include transmission revenue from PJM and other wholesale energy sales.
PECO’s Gas Sales Statistics and Revenue Detail
PECO’s gas sales statistics and revenue detail were as follows:
Deliveries to customers (in million cubic feet (mmcf)) 2005 2004 Variance % Change
Retail sales ......................................... 59,751 59,949 (198) (0.3)%
Transportation ....................................... 25,310 27,148 (1,838) (6.8)%
Total .............................................. 85,061 87,097 (2,036) (2.3)%
Revenue 2005 2004 Variance % Change
Retail sales ......................................... $ 783 $ 702 $ 81 11.5%
Transportation ....................................... 16 18 (2) (11.1)%
Resales and other ................................... 18 28 (10) (35.7)%
Total gas revenue .................................... $ 817 $ 748 $ 69 9.2%
Liquidity and Capital Resources
The Registrants’ businesses are capital intensive and require considerable capital resources.
These capital resources are primarily provided by internally generated cash flows from operations.
When necessary, the Registrants obtain funds from external sources in the capital markets and
through bank borrowings. The Registrants’ access to external financing on reasonable terms depends
on their credit ratings and current business conditions, including that of the utility industry in general. If
these conditions deteriorate to the extent that the Registrants no longer have access to the capital
markets at reasonable terms, Exelon, Generation, ComEd and PECO have access to revolving credit
facilities with aggregate bank commitments of $1 billion, $5 billion, $1 billion and $600 million,
respectively, that they currently utilize to support their commercial paper programs and to issue letters
of credit. See the “Credit Issues” section of “Liquidity and Capital Resources” for further discussion.
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