Constellation Energy Corp
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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24. Related Party Transactions
- Related Party Transactions
Prior to completion of the separation on February 1, 2022, we engaged in transactions with affiliates of Exelon in the normal course of business, these affiliate transactions are summarized in the tables below. After February 1, 2022, all transactions with Exelon or its affiliates are no longer related party transactions.
Operating revenues from affiliates
The following table presents our Operating revenues from affiliates:
| For the Years Ended December 31, | |||
|---|---|---|---|
| 2022(a) | 2021 | ||
| ComEd(b) | $58 | $376 | |
| PECO(c) | 33 | 196 | |
| BGE(d) | 18 | 236 | |
| PHI | 51 | 366 | |
| Pepco(e) | 39 | 270 | |
| DPL(f) | 10 | 79 | |
| ACE(g) | 2 | 17 | |
| Other | — | 14 | |
| Total operating revenues from affiliates | $160 | $1,188 | |
(a)Represents only January 2022 costs prior to separation on February 1, 2022.
(b)We have an ICC-approved RFP contract with ComEd to provide a portion of ComEd’s electricity supply requirements. We also sell RECs and ZECs to ComEd.
(c)We provide electric supply to PECO under contracts executed through PECO’s competitive procurement process. In addition, we have a ten-year agreement with PECO to sell solar AECs.
(d)We provide a portion of BGE’s energy requirements under its MDPSC-approved market-based SOS and gas commodity programs.
(e)We provide electric supply to Pepco under contracts executed through Pepco's competitive procurement process approved by the MDPSC and DCPSC.
(f)We provide a portion of DPL's energy requirements under its MDPSC and DEPSC approved market-based SOS commodity programs.
(g)We provide electric supply to ACE under contracts executed through ACE's competitive procurement process.
Service Company Costs for Corporate Support
We received a variety of corporate support services from Exelon. Through its business services subsidiary, BSC, Exelon provided support services at cost, including legal, human resources, financial, information technology, and supply management services. The costs of BSC were directly charged or allocated to us. Certain of these services continue after the separation and are covered by the TSA. See Note 1 — Basis of Presentation for additional information. The operating and maintenance service company costs from affiliates allocated to us prior to separation were $44 million and $588 million for the years ended December 31, 2022 and 2021, respectively. The capitalized service company costs allocated to us prior to separation were $15 million and $129 million for the years ended December 31, 2022 and 2021, respectively.
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