Electric Utilities

PECO Energy

PECO Energy <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: PE)") else Response.Write("(NYSE: PE)") end if %> provides electric and gas utility service, primarily in southeastern Pennsylvania. The company is implementing plans to become one of the main generators of electricity in the Eastern region of the U.S. PECO acquires nuclear facilities with the intent of selling the power on a wholesale basis as a "power marketer" rather than distributing its energy as part of the company's regular utility offering. The company has demonstrated effective management of its nuclear facilities.

The total retail area served by PECO covers 2,107 square miles. Retail electric service is supplied to an area of 1,972 square miles with a population of about 3.6 million, including 1.6 million in the City of Philadelphia. Approximately 94% of the electric service area and 64% of retail kilowatt-hour (kWh) sales are in the suburbs around Philadelphia.

Latest Financials

Earnings for the quarter ended June 30, 1997 were $0.53 per share, compared to $0.43 per share for the second quarter of last year. The increase in earnings was due primarily to the recognition of the settlement of litigation arising from the Salem Generating Station outage, which added $0.18 per share, and from increased operating efficiencies.

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