Earnings at Exelon’s Commonwealth Edison Co. were responsible for much of the upside surprise. ComEd generated operating earnings of $127 million, or 19 percent of Exelon’s total, up 41 percent from $90 million during the same period last year, when ComEd accounted for 14 percent of Exelon’s earnings.
The primary reason: higher revenues at ComEd thanks to the 2011 formula rate law enacted in Illinois over Gov. Pat Quinn’s veto, according to Exelon’s earnings release.
Exelon’s CEO Christopher Crane also said that the Clinton nuke plant could be shuttered in a year if wholesale prices don’t improve.