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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6. Property, Plant, and Equipment
Note 6 — Property, Plant, and Equipment
- Property, Plant, and Equipment (All Registrants)
The following tables present a summary of property, plant, and equipment by asset category at December 31, 2025 and 2024:
| Asset Category | Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE |
|---|---|---|---|---|---|---|---|---|
| Electric—transmission and distribution | $84,282 | $38,370 | $13,314 | $11,687 | $22,614 | $14,420 | $6,423 | $6,247 |
| Gas—transportation and distribution | 10,499 | — | 4,649 | 5,190 | 940 | — | 1,094 | — |
| Common—electric and gas(a) | 2,954 | — | 1,135 | 1,430 | 460 | — | 251 | — |
| Construction work in progress | 5,755 | 1,997 | 836 | 1,236 | 1,629 | 1,087 | 290 | 238 |
| Other property, plant, and equipment(b) | 908 | 179 | 119 | 76 | 84 | 24 | 38 | 27 |
| Total property, plant, and equipment | 104,398 | 40,546 | 20,053 | 19,619 | 25,727 | 15,531 | 8,096 | 6,512 |
| Less: accumulated depreciation | 20,080 | 8,291 | 4,131 | 5,234 | 4,350 | 4,784 | 2,241 | 1,956 |
| Property, plant, and equipment, net | $84,318 | $32,255 | $15,922 | $14,385 | $21,377 | $10,747 | $5,855 | $4,556 |
| Electric—transmission and distribution | $79,283 | $36,493 | $12,234 | $11,131 | $21,130 | $13,593 | $6,086 | $5,947 |
| Gas—transportation and distribution | 9,599 | — | 4,247 | 4,796 | 821 | — | 976 | — |
| Common—electric and gas | 2,630 | — | 1,064 | 1,385 | 272 | — | 241 | — |
| Construction work in progress | 4,306 | 1,219 | 813 | 779 | 1,472 | 1,002 | 275 | 187 |
| Other property, plant and equipment(a) | 809 | 118 | 76 | 48 | 86 | 24 | 37 | 30 |
| Total property, plant and equipment | 96,627 | 37,830 | 18,434 | 18,139 | 23,781 | 14,619 | 7,615 | 6,164 |
| Less: accumulated depreciation | 18,445 | 7,619 | 4,042 | 5,005 | 3,728 | 4,522 | 2,075 | 1,798 |
| Property, plant, and equipment, net | $78,182 | $30,211 | $14,392 | $13,134 | $20,053 | $10,097 | $5,540 | $4,366 |
(a)On April 15, 2025, PHI purchased an office building and land in the District of Columbia for $177 million which it had been leasing. The lease was terminated on April 15, 2025, in conjunction with the purchase (See Note 9 — Leases for additional information).
(b)Primarily composed of land and non-utility property.
Note 6 — Property, Plant, and Equipment
The following table presents the average service life for each asset category in number of years:
| Average Service Life (years) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Asset Category | Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE |
| Electric - transmission and distribution | 5-80 | 5-80 | 5-70 | 5-80 | 5-75 | 5-75 | 5-75 | 5-75 |
| Gas - transportation and distribution | 5-80 | N/A | 5-80 | 5-80 | 5-75 | N/A | 5-75 | N/A |
| Common - electric and gas | 4-75 | N/A | 5-53 | 4-45 | 5-75 | N/A | 5-75 | N/A |
| Other property, plant, and equipment | 4-61 | 28-50 | 50 | 20-50 | 10-43 | 10-33 | 10-43 | 10-43 |
The following table presents the annual depreciation rates for each asset category.
| Annual Depreciation Rates | ||||||||
|---|---|---|---|---|---|---|---|---|
| Exelon | ComEd | PECO | BGE | PHI | Pepco | DPL | ACE | |
| Electric—transmission and distribution | 2.85% | 3.07% | 2.33% | 2.56% | 2.89% | 2.51% | 3.09% | 3.62% |
| Gas—transportation and distribution | 2.08% | N/A | 1.94% | 2.37% | 1.29% | N/A | 1.29% | N/A |
| Common—electric and gas | 6.14% | N/A | 6.37% | 7.08% | 2.88% | N/A | 5.53% | N/A |
| Electric—transmission and distribution | 2.83% | 3.06% | 2.30% | 2.55% | 2.87% | 2.49% | 2.99% | 3.41% |
| Gas—transportation and distribution | 2.12% | N/A | 1.96% | 2.42% | 1.38% | N/A | 1.38% | N/A |
| Common—electric and gas | 7.00% | N/A | 6.73% | 7.81% | 4.82% | N/A | 6.14% | N/A |
| Electric—transmission and distribution | 2.90% | 3.02% | 2.30% | 2.89% | 3.03% | 2.51% | 3.29% | 3.66% |
| Gas—transportation and distribution | 2.15% | N/A | 1.85% | 2.56% | 1.44% | N/A | 1.44% | N/A |
| Common—electric and gas | 7.77% | N/A | 6.87% | 8.68% | 7.18% | N/A | 8.79% | N/A |
AFUDC
The following table summarizes credits to AFUDC by year:
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Exelon | $275 | $251 | $256 |
| ComEd | 94 | 75 | 72 |
| PECO | 54 | 48 | 46 |
| BGE | 58 | 39 | 25 |
| PHI | 69 | 89 | 113 |
| Pepco | 49 | 62 | 85 |
| DPL | 11 | 19 | 16 |
| ACE | 8 | 8 | 12 |
See Note 1 — Significant Accounting Policies for additional information regarding property, plant and equipment policies. See Note 14 — Debt and Credit Agreements for additional information regarding Exelon’s, ComEd’s, PECO's, Pepco's, DPL's, and ACE’s property, plant and equipment subject to mortgage liens.
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