v3.25.2
Debt and Credit Agreements (All Registrants) (Tables)
 6 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Schedule of Commercial Paper Borrowings
The following table reflects the Registrants' commercial paper programs supported by the revolving credit agreements at June 30, 2025 and December 31, 2024.
Outstanding Commercial
Paper at		Average Interest Rate on
Commercial Paper Borrowings at
Commercial Paper IssuerJune 30, 2025December 31, 2024June 30, 2025December 31, 2024
Exelon(a)
$609 $1,359 4.58 %4.66 %
ComEd$— $36 — %4.55 %
PECO$203 $192 4.55 %4.65 %
BGE$— $175 — %4.61 %
PHI(b)
$230 $530 4.59 %4.70 %
Pepco$149 $200 4.59 %4.69 %
DPL$2 $144 4.53 %4.74 %
ACE$79 $186 4.58 %4.67 %
__________
(a)Exelon Corporate had $176 million outstanding commercial paper borrowings at June 30, 2025 and $426 million in outstanding commercial paper borrowings at December 31, 2024.
(b)Represents the consolidated amounts of Pepco, DPL, and ACE.
Schedule of Revolving Credit Agreements
On August 29, 2024, Exelon Corporate and each of the Utility Registrants amended and restated their respective syndicated revolving credit facility, extending the maturity date to August 29, 2029. The following table reflects the credit agreements:
BorrowerAggregate Bank CommitmentInterest Rate
Exelon Corporate$900 
SOFR plus 1.075%
ComEd$1,000 
SOFR plus 1.000%
PECO$600 
SOFR plus 0.900%
BGE$600 
SOFR plus 0.900%
Pepco$300 
SOFR plus 1.000%
DPL$300 
SOFR plus 1.000%
ACE$300 
SOFR plus 1.000%
Schedule of Long-term Debt Instruments
During the six months ended June 30, 2025, the following long-term debt was issued:
CompanyTypeInterest RateMaturityAmountUse of Proceeds
Exelon
Junior Subordinated Notes(a)
6.50%March 15, 2055$1,000Repay outstanding commercial paper obligations, and for general corporate purposes.
ExelonNotes5.125%March 15, 2031$500Repay outstanding commercial paper obligations, and for general corporate purposes.
ExelonNotes5.875%March 15, 2055$500Repay outstanding commercial paper obligations, and for general corporate purposes.
ComEdFirst Mortgage Bonds5.95%June 1, 2055$725Repay outstanding commercial paper obligations, and for general corporate purposes.
BGENotes5.45%June 1, 2035$650Repay outstanding commercial paper obligations, and for general corporate purposes.
Pepco(b)
First Mortgage Bonds5.48%March 26, 2040$200Repay existing indebtedness and for general corporate purposes.
DPLFirst Mortgage Bonds5.28%March 26, 2035$125Repay existing indebtedness and for general corporate purposes.
ACE(c)
First Mortgage Bonds5.28%March 26, 2035$100Repay existing indebtedness and for general corporate purposes.
__________
(a)The Junior Subordinated Notes bear interest at 6.50% per annum, commencing February 19, 2025 to, but excluding March 15, 2035. Thereafter, the interest rate resets every five years on March 15 and will be set at a rate per annum equal to the Five-year U.S. Treasury Rate plus a spread of 1.975%.
(b)On March 26, 2025, Pepco entered into a purchase agreement of First Mortgage Bonds of $75 million at 5.78% due on September 17, 2055. The closing date of the issuance is expected to occur in September 2025.
(c)On March 26, 2025, ACE entered into a purchase agreement of First Mortgage Bonds of $75 million and $75 million at 5.54% and 5.81% due on November 19, 2040 and November 19, 2055, respectively. The closing date of the issuance is expected to occur in November 2025.