ATLANTIC CITY ELECTRIC CO
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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FY2025 · Filed Feb 12, 2026
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21. Related Party Transactions
Note 21 — Related Party Transactions
- Related Party Transactions (All Registrants)
Service Company Costs for Corporate Support
The Registrants receive a variety of corporate support services from BSC. Pepco, DPL, and ACE also receive corporate support services from PHISCO. See Note 1— Significant Accounting Policies for additional information regarding BSC and PHISCO.
The following table presents the service company costs allocated to the Registrants:
| Operating and maintenance from affiliates · Capitalized costs from affiliates | ||||||
|---|---|---|---|---|---|---|
| For the years ended December 31, | For the years ended December 31, | |||||
| 2025 | 2024 | 2023 | 2025 | 2024 | 2023 | |
| Exelon | ||||||
| BSC | $683 | $633 | $670 | |||
| PHISCO | 109 | 114 | 96 | |||
| ComEd | ||||||
| BSC | $404 | $418 | $353 | 279 | 254 | 307 |
| PECO | ||||||
| BSC | 246 | 243 | 213 | 105 | 112 | 120 |
| BGE | ||||||
| BSC | 251 | 246 | 221 | 123 | 110 | 90 |
| PHI | ||||||
| BSC | 200 | 200 | 177 | 176 | 157 | 153 |
| PHISCO | — | — | — | 109 | 114 | 95 |
| Pepco | ||||||
| BSC | 126 | 125 | 114 | 76 | 70 | 59 |
| PHISCO | 119 | 125 | 122 | 47 | 50 | 39 |
| DPL | ||||||
| BSC | 80 | 78 | 73 | 52 | 49 | 43 |
| PHISCO | 98 | 103 | 98 | 33 | 34 | 29 |
| ACE | ||||||
| BSC | 64 | 64 | 59 | 40 | 32 | 47 |
| PHISCO | 91 | 97 | 92 | 29 | 30 | 26 |
Current Receivables from/Payables to Affiliates
The following tables present current Receivables from affiliates and current Payables to affiliates:
December 31, 2025
| Receivables from affiliates: | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables to affiliates: · ComEd · PECO · BGE · Pepco · DPL · ACE · BSC · PHISCO · Other · Total | |||||||||||||||||||
| ComEd | $— | $— | $— | $— | $— | $76 | $— | $5 | $81 | ||||||||||
| PECO | $— | — | — | — | — | 33 | — | 2 | 35 | ||||||||||
| BGE | — | — | — | — | — | 39 | — | — | 39 | ||||||||||
| PHI | — | — | — | — | — | — | 5 | 2 | 11 | 18 | |||||||||
| Pepco | — | — | — | — | — | 25 | 11 | 1 | 37 | ||||||||||
| DPL | — | — | — | — | — | 15 | 10 | — | 25 | ||||||||||
| ACE | — | — | — | — | — | 14 | 10 | — | 24 | ||||||||||
| Other | 5 | — | 1 | — | 2 | 12 | — | — | 20 | ||||||||||
| Total | $5 | $— | $1 | $— | $2 | $12 | $207 | $33 | $19 | $279 | |||||||||
Note 21 — Related Party Transactions
December 31, 2024
| Receivables from affiliates: | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables to affiliates: · ComEd · PECO · BGE · Pepco · DPL · ACE · BSC · PHISCO · Other · Total | |||||||||||||||||||
| ComEd | $— | $— | $— | $— | $— | $67 | $— | $10 | $77 | ||||||||||
| PECO | $— | — | — | — | — | 37 | — | 4 | 41 | ||||||||||
| BGE | — | — | — | — | — | 47 | — | 1 | 48 | ||||||||||
| PHI | — | — | — | — | — | — | 7 | 1 | 10 | 18 | |||||||||
| Pepco | — | — | — | — | — | 21 | 15 | 1 | 37 | ||||||||||
| DPL | — | — | — | — | — | 14 | 11 | 1 | 26 | ||||||||||
| ACE | — | — | — | — | — | 11 | 10 | 1 | 22 | ||||||||||
| Other | 4 | — | — | 1 | — | 7 | — | — | 12 | ||||||||||
| Total | $4 | $— | $— | $1 | $— | $7 | $204 | $37 | $28 | $281 | |||||||||
Borrowings from Exelon/PHI Intercompany Money Pool
To provide an additional short-term borrowing option that will generally be more favorable to the borrowing participants than the cost of external financing both Exelon and PHI operate an intercompany money pool. PECO and PHI Corporate participate in the Exelon money pool. Pepco, DPL, and ACE participate in the PHI intercompany money pool.
Long-term Debt to Financing Trusts
The following table presents Long-term debt to financing trusts:
| At December 31, | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Exelon | ComEd | PECO | Exelon | ComEd | PECO | |
| ComEd Financing III | $206 | $206 | $— | $206 | $206 | $— |
| PECO Trust III | 81 | — | 81 | 81 | — | 81 |
| PECO Trust IV | 103 | — | 103 | 103 | — | 103 |
| Total | $390 | $206 | $184 | $390 | $206 | $184 |
Charitable Contributions
In December 2025, Exelon Corporation made an unconditional promise to give $30 million to the Exelon Foundation. The contribution was recorded in Operating and maintenance expense within the Consolidated Statements of Operations and Comprehensive Income with the offset in Other current liabilities on the Consolidated Balance Sheets.
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