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February 08, 2016 1:33 AM ET

Electric Utilities

Company Overview of Commonwealth Edison Company

Company Overview

Commonwealth Edison Company engages in the purchase and regulated retail sale of electricity. The company provides electricity distribution and transmission services to residential, commercial, and industrial customers in northern Illinois. As of December 31, 2014, its electric distribution system consisted of 35,464 circuit miles of overhead lines and 30,778 circuit miles of underground lines. The company was founded in 1887 and is based in Chicago, Illinois. Commonwealth Edison Company is a subsidiary of Exelon Corporate.

440 South LaSalle Street

Chicago, IL 60605

United States

Founded in 1887

Phone:

312-394-4321

Key Executives for Commonwealth Edison Company

Chief Executive Officer, President, Director and Member of Executive Committee
Age: 56
Chief Financial Officer, Senior Vice President and Treasurer
Age: 45
Chief Operating Officer and Executive Vice President
Age: 54
Chairman, Member of Executive Committee, Chief Executive Officer of Exelon Corporation and President of Exelon Corporation
Age: 56
Senior Vice President of Regulatory & Energy Policy and General Counsel
Age: 52
Compensation as of Fiscal Year 2015.

Commonwealth Edison Company Key Developments

ComEd Announces Unaudited Earnings Results for the Fourth Quarter Ended December 31, 2015

ComEd announced unaudited earnings results for the fourth quarter ended December 31, 2015. For the quarter, the company’s fourth quarter 2015 GAAP net income was $87 million, compared with net income of $73 million in the fourth quarter of 2014. Adjusted (non-GAAP) operating earnings were $87 million against $75 million a year ago. The company’s adjusted (non-GAAP) operating earnings in the fourth quarter of 2015 increased $12 million compared with the same quarter in 2014, primarily due to higher electric distribution and transmission formula rate earnings at the company reflecting the impacts of increased capital investment and favorable distribution ROE, partially offset by unfavorable weather and volume.

Commonwealth Edison Company Wins $4 Million Contract

Commonwealth Edison Company announced that it won a contract valued at $4 million from the U.S. Department of Energy Sunshot Initiative to design and deploy solar and battery storage technology within the company's planned microgrid demonstration project in Chicago's Bronzeville neighborhood.

Commonwealth Edison Company Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Full Year of 2015

Commonwealth Edison Company announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported operating revenues of $1,376 million against $1,222 million a year ago. Operating income was $327 million against $287 million a year ago. Income before income taxes was $248 million against $210 million a year ago. Net income attributable to common shareholders was $149 million against $126 million a year ago. Adjusted non-GAAP operating revenues were $1,376 million against $1,222 million a year ago. Adjusted non-GAAP operating income was $330 million against $287 million a year ago. Adjusted non-GAAP income before income taxes was $251 million against $210 million a year ago. Adjusted non-GAAP net income attributable to common shareholders was $151 million against $126 million a year ago. For the nine months, the company reported operating revenues of $3,709 million against $3,484 million a year ago. Operating income was $799 million against $783 million a year ago. Income before income taxes was $565 million against $556 million a year ago. Net income attributable to common shareholders was $339 million against $335 million a year ago. Adjusted non-GAAP operating revenues were $3,709 million against $3,484 million a year ago. Adjusted non-GAAP operating income was $807 million against $783 million a year ago. Adjusted non-GAAP income before income taxes was $573 million against $556 million a year ago. Adjusted non-GAAP net income attributable to common shareholders was $344 million against $335 million a year ago. The company provided earnings guidance for the full year of 2015. For the year, the company expects adjusted operating EPS in the range of $0.45 to $0.55 against previous guidance in the range of $0.45 to $0.55. The company expects adjusted cash flow from operations of $2,175 million and free cash flow of $2,175 million.

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