Exelon Purchases Peoples Energy Portion of Southeast Chicago Power Plant

CHICAGO, March 31  /PRNewswire-FirstCall/ -- Exelon Generation Company, LLC and Peoples Energy (NYSE:PGL) today announced they have agreed to accelerate Exelon's purchase of Peoples' 30 percent interest of the Southeast Chicago Energy Project for $50 million, subject to certain closing adjustments.

Southeast Chicago Energy Project is a 350-megawatt natural gas-fired, peaking electric power plant located on Chicago's southeast side.  It began operation as a joint venture between Exelon Generation and Peoples Calumet, LLC in the summer of 2002 with Exelon controlling 100 percent of the output of the facility.

Since the facility came on-line, Exelon has owned and controlled the output of the facility, while Peoples supplied fuel to the plant.  Exelon will continue to own and control 100 percent of the plant's output and Peoples Energy will remain as fuel supplier to the plant.

The purchase by Exelon is subject to Federal Energy Regulatory Commission (FERC) approval.  This purchase does not affect Exelon's market position within the PJM Interconnection because under the original agreement with Peoples Energy, Exelon Generation controlled 100 percent of output from the facility.

Exelon Corporation (NYSE:EXC) is one of the nation's largest electric utilities with approximately 5.2 million customers and more than $15 billion in annual revenues.  The company has one of the industry's largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic.  Exelon distributes electricity to approximately 5.2 million customers in northern Illinois and Pennsylvania and gas to more than 470,000 customers in the Philadelphia area.  Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.

Forward-Looking Information

Except for the historical information contained herein, certain of the matters discussed in this press release are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, which 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 filings with the Securities and Exchange Commission made by Exelon Corporation and Exelon Generation Company LLC.  Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this press release. Exelon Corporation and Exelon Generation Company LLC do not undertake any obligation to publicly release any revision to their forward-looking statements to reflect events or circumstances after the date of this press release. 

DATASOURCE: Exelon Generation Company, LLC



CONTACT:  Ben Armstrong, Exelon Generation (Media), [phone] or

Joyce Carson, Exelon Corporation (Investor Relations), [phone] 



Web site:  http://www.exeloncorp.com/ 

Copyright