ComEd 2006 Annual Report Download - page 88

Generation’s average margin per MWh of electricity sold for 2006 and 2005 was as follows:
($/MWh) 2006 2005 % Change
Average electric revenue
Electric sales to affiliates ..................................... $39.16 $39.15 n.m.
Wholesale and retail electric sales ............................. 51.03 46.16 10.6%
Total—excluding the trading portfolio ....................... 43.60 41.76 4.4%
Average electric supply cost (a)—excluding the trading portfolio ......... $18.02 $20.11 (10.4)%
Average margin—excluding the trading portfolio ..................... $25.58 $21.65 18.2%
(a) Average supply cost includes purchased power and fuel costs associated with electric sales. Average electric supply cost
does not include fuel costs associated with retail gas sales.
n.m. Not meaningful
Nuclear fleet operating data and purchased power cost data for 2006 and 2005 were as follows:
2006 2005
Nuclear fleet capacity factor (a) ............................................. 93.9% 93.5%
Nuclear fleet production cost per MWh (a) .................................... $13.85 $13.03
(a) Excludes Salem, which is operated by PSEG Nuclear.
Although total refueling outage days increased during 2006 compared to 2005, the nuclear fleet
capacity factor for the Generation-operating nuclear fleet increased due to fewer non-refueling outage
days during 2006 compared to 2005. For 2006 and 2005, non-refueling outage days totaled 71 and
112, respectively, and refueling outage days totaled 237 and 217, respectively. Higher costs for
nuclear fuel, costs associated with the additional planned refueling outage days, higher costs for
refueling outage inspection and maintenance activities, costs for the tritium-related expenses, an NRC
fee increase, and inflationary cost increases for normal plant operations and maintenance offset the
higher number of MWh’s generated resulting in a higher production cost per MWh produced for 2006
as compared to 2005. There were ten planned refueling outages and sixteen non-refueling outages
during 2006 compared to nine planned refueling outages and twenty-five non-refueling outages during
2005 at the Generation-operated nuclear stations.
Operating and Maintenance Expense. The increase in operating and maintenance expense for
2006 compared to 2005 consisted of the following:
Increase
(decrease)
Pension, payroll and benefit costs ................................................ $153
Contractor expenses ........................................................... 22
Nuclear refueling outage costs including the co-owned Salem plant .................... 19
NRC fees .................................................................... 11
Godley contribution ............................................................ 11
Tritium-related expense ........................................................ 9
Reduction in ARO (a) ........................................................... (149)
2005 accrual for estimated future asbestos-related bodily injury claims (b) ................ (43)
2005 co-owner settlement with PSEG related to postretirement benefits ................. (17)
Other ....................................................................... 1
Increase in operating and maintenance expense .................................... $ 17
(a) For further discussion, see Note 13 of the Combined Notes to Consolidated Financial Statements.
(b) For further discussion, see Note 18 of the Combined Notes to Consolidated Financial Statements.
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