UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
May 17, 2006
Date of Report (Date of earliest event reported)
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Exact Name of Registrant as Specified in Its Charter; State of Incorporation; |
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IRS Employer |
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Address of Principal Executive Offices; and Telephone Number |
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Identification Number |
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1-16169
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EXELON CORPORATION
(a Pennsylvania corporation)
10 South Dearborn Street – 37th Floor
P.O. Box 805379
Chicago, Illinois 60680-5379
(312) 394-7398
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23-2990190 |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Section 8 – Other Events
Item 8.01. Other Events
Exelon Corporation (Exelon), through three separate wholly owned subsidiaries, owns interests in
two limited liability companies and one limited partnership that own synthetic fuel-producing
facilities. These facilities chemically convert coal, including waste and marginal coal, into a
synthetic fuel that is used at power plants. The Internal Revenue Code provides tax credits for
the sale of synthetic fuel produced from coal.
The synthetic fuel-producing facilities in which Exelon has interests were recently idled. The
decision to idle synthetic fuel production was primarily driven by the current level and volatility
of oil prices. In addition, the proposed federal legislation that would have provided certainty
that tax credits would exist for 2006 production was not included in the Tax Increase Prevention
and Reconciliation Act of 2005. Synthetic fuel production may resume in the future, but is
dependent upon various factors including a reduction in oil prices or the enactment of future
federal tax legislation. As previously disclosed in Exelon’s
2005 Annual Report on Form 10-K and first quarter
2006 Form 10-Q, the suspension of production at the synthetic fuel-producing facilities could
result in the impairment of the intangible assets associated with Exelon’s investment in synthetic
fuel-producing facilities, possibly in the second quarter of 2006.
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Except for the historical information contained herein, certain of the matters discussed in this
Report are forward-looking statements, within the meaning of the Private Securities Litigation
Reform Act of 1995, that are subject to risks and uncertainties. The factors that could cause
actual results to differ materially from the forward-looking statements made by a registrant
include those factors discussed herein, as well as the items discussed in (a) Exelon’s 2005 Annual
Report on Form 10-K—ITEM 1A. Risk Factors, (b) Exelon’s 2005 Annual Report on Form 10-K—ITEM 8.
Financial Statements and Supplementary Data—Note 20 and (c) other factors discussed in filings with
the SEC by Exelon. Readers are cautioned not to place undue reliance on these forward-looking
statements, which apply only as of the date of this Report. Exelon does not undertake any
obligation to publicly release any revision to its forward-looking statements to reflect events or
circumstances after the date of this Report.