April 24, 2017 8:08 AM ET

Electric Utilities

Company Overview of PECO Energy Company

Company Overview

PECO Energy Company, an electric and natural gas utility, engages in the purchase and regulated retail sale of electricity, and the provision of transmission and distribution services to retail customers in southeastern Pennsylvania. The company is also involved in the purchase and regulated retail sale of natural gas, and the provision of distribution services to retail customers in the Pennsylvania counties surrounding the Philadelphia city. As of December 31, 2016, its electric distribution system comprises 12,963 circuit miles of overhead lines and 9,290 circuit miles of underground lines. As of January 30, 2017, the company provided electricity to approximately 1.6 million customers and...

2301 Market Street

Philadelphia, PA 19103

United States

Founded in 1881

2,651 Employees

Phone:

215-841-4000

Key Executives for PECO Energy Company

Chief Executive Officer, President and Director
Age: 63
Chief Financial Officer, Senior Vice President and Treasurer
Age: 52
Chief Operations Officer and Senior Vice President
Age: 50
Chief Executive Officer of Exelon Generation Company LLC and President of Exelon Generation Company LLC
Age: 51
Chief Executive Officer of Commonwealth Edison Company, President of Commonwealth Edison Company and Director of Commonwealth Edison Company
Age: 57
Compensation as of Fiscal Year 2016.

PECO Energy Company Key Developments

Pennsylvania Public Utility Commission Approves $6.2 Million Settlement over 2014 PECO Energy Blast

The Pennsylvania Public Utility Commission approved a settlement with PECO Energy totaling $6.2 million in relation to a 2014 house explosion in Coatesville, Pa. The settlement comprises a $900,000 civil penalty that cannot be recovered from ratepayers and $5.3 million for gas safety enhancements over the next 10 to 20 years. As part of the agreement, PECO is expected to develop a $3 million gas mapping plan, allot $2.3 million for related infrastructure improvements and require camera inspections of all mains and service lines. The PUC said the explosion happened while PECO was performing an up rating project on natural gas lines, citing the complaint filed by the agency's independent Bureau of Investigation and Enforcement.

PECO Energy Company Reports Unaudited Earnings Results for the Third Quarter of 2016

PECO Energy Company reported unaudited earnings results for the third quarter of 2016. For the quarter, the company reported GAAP net income of $122 million compared with $90 million in the third quarter of 2015. Adjusted operating earnings were $123 million against $91 million a year ago. Adjusted operating earnings in the third quarter of 2016 increased by $32 million from the same quarter in 2015, primarily due to favorable weather and increased electric distribution revenue pursuant to a rate increase effective January 1, 2016.

PECO Energy Co. Issues $300 Million of Mortgage Bonds

PECO Energy Co. has issued $300 million of its 1.70% first and refunding mortgage bonds due Sept. 15, 2021, to help refinance at maturity $300 million of its 1.20% bonds due Oct. 15. Interest on the bonds is payable semiannually, beginning March 15, 2017.

Similar Private Companies By Industry

Company Name Region
3 Phases Renewables, LLC United States
Abacus Resources Energy, LLC United States
Access Energy, LLC United States
Adams Electric Cooperative, Inc. United States
Adams-Columbia Electric Cooperative United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
Bertelsmann AG Europe
Bloomberg L.P. United States
The Advertising Council, Inc. United States
Rush University United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact PECO Energy Company, please visit www.peco.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.