Form 8-K EXELON CORP For: Oct 01 Filed by: EXELON GENERATION CO LLC

 

 

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

Date of Report (Date of earliest event reported) October 1, 2015

 

 

 

Commission File Number		Exact Name of Registrant as Specified in Its Charter; State of Incorporation; Address of Principal Executive Offices; and Telephone Number		IRS Employer Identification Number
1-16169		EXELON CORPORATION (a Pennsylvania corporation) 10 South Dearborn Street P.O. Box 805379 Chicago, Illinois 60680-5379 (800) 483-3220		23-2990190
333-85496		EXELON GENERATION COMPANY, LLC (a Pennsylvania limited liability company) 300 Exelon Way Kennett Square, Pennsylvania 19348-2473 (610) 765-5959		23-3064219

 

 

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:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

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Section 8 – Other Events

Item 8.01 Other Events.

On October 1, 2015, Exelon Generation Company, LLC (“Generation”) submitted to the PJM Market Monitoring Unit a preliminary request for an exception to the must offer requirement for its Oyster Creek Nuclear Generating Station (“Oyster Creek”) applicable to the Base Residual Auction for the 2019/2020 Delivery Year because Generation is obligated to retire Oyster Creek no later than December 31, 2019 pursuant to a consent order entered into with the Department of Environmental Protection of the State of New Jersey in 2010. Attached as Exhibit 99.1 to this Current Report on Form 8-K is a copy of Generation’s preliminary request.

Section 9 – Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits.

 

(d)

Exhibits.

 

Exhibit No.		Description
99.1		Preliminary request for exception

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Cautionary Statements Regarding Forward-Looking Information

This report contains certain 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 Exelon and Generation include those factors discussed herein, as well as the items discussed in (1) Exelon’s 2014 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 22; (2) Exelon’s Second Quarter 2015 Quarterly Report on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors; (b) Part 1, Financial Information, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 19; and (3) other factors discussed in filings with the SEC by Exelon and Generation. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this report. Exelon and Generation do 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.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

October 1, 2015

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EXHIBIT INDEX

 

Exhibit No.		Description
99.1		Preliminary request for exception

Exhibit 99.1

 

October 1, 2015

 

Dr. Joseph Bowring				VIA ELECTRONIC DELIVERY

Monitoring Analytics, LLC

2621 Van Buren Avenue, Suite 160

Norristown, PA 19403

 

Re:

Preliminary Must Offer Exception Request for Oyster Creek

Dear Joe:

In accordance with Section 6.6(g) of Attachment DD to the PJM OATT, Exelon Generation Company, LLC (“ExGen”) hereby submits to you in your role as the PJM Market Monitoring Unit this preliminary request for an exception to the must offer requirement for the Oyster Creek Nuclear Generating Station (“Oyster Creek”) applicable to the Base Residual Auction for the 2019/2020 Delivery Year.¹ ExGen reasonably expects that Oyster Creek will be physically unable to participate for the entire Delivery Year because ExGen will likely decide to retire the plant before the end of the Delivery Year. By copy of this letter, ExGen has also notified the PJM Office of Interconnection (the “PJM OI”) of this preliminary request.

With respect to the supporting data and documentation required by Section 6.6(g) for a preliminary request, first ExGen notes that Oyster Creek did not clear in the recently conducted Base Residual Auction for the 2018/2019 Delivery Year. Second, under an Administrative Consent Order ExGen entered into with the Department of Environmental Protection for the State of New Jersey in 2010 (the “ACO”), ExGen is obligated to retire the plant no later than December 31, 2019. 2 As documented in the ACO, ExGen agreed to retire Oyster Creek as of that date to avoid having to make substantial and significantly uneconomic investments in cooling tower technologies at the site. .

ExGen will make a final decision regarding deactivation in the next few months, and will provide to you and the PJM OI by December 1, 2015 the applicable further notices required by Section 6.6(g).

Finally, please confirm your receipt of this request at your earliest convenience.

Sincerely,

/S/ Jason Barker

Jason Barker

Director, Wholesale Market Development

Exelon

Cc: PJM Office of Interconnection

 

 

1	By its Order issued on August 25, 2015, FERC extended the tariffed September 1 deadline for this notice to October 1. (See 152 FERC ¶61, 151).

2	ExGen includes a copy of the ACO with this preliminary notice.

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