v3.26.1
Derivative Instruments and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments The following table provides a summary of the Utility Registrants’ primary derivative hedging instruments, listed by commodity and accounting treatment.
RegistrantCommodityAccounting TreatmentHedging Instrument
ComEdElectricityNPNSFixed price contracts based on all requirements in the IPA procurement plans.
Electricity
Changes in fair value of economic hedge recorded to an offsetting regulatory asset or liability(a)
20-year floating-to-fixed energy swap contracts beginning June 2012 based on the renewable energy resource procurement requirements in the Illinois Settlement Legislation of approximately 1.3 million MWhs per year.
PECOElectricityNPNSFixed price contracts for default supply requirements through full requirements contracts.
GasNPNS
Fixed price contracts to cover about 10% of planned natural gas purchases in support of projected firm sales.
BGEElectricityNPNSFixed price contracts for all SOS requirements through full requirements contracts.
GasNPNSFixed price purchases associated with forecasted gas supply requirements.
PepcoElectricityNPNSFixed price contracts for all SOS requirements through full requirements contracts.
DPLElectricityNPNSFixed price contracts for all SOS requirements through full requirements contracts.
GasNPNSFixed and index priced contracts through full requirements contracts.
Gas
Changes in fair value of economic hedge recorded to an offsetting regulatory asset or liability(b)
Exchange traded future contracts for up to 50% of estimated monthly purchase requirements each month, including purchases for storage injections.
ACEElectricityNPNSFixed price contracts for all BGS requirements through full requirements contracts.
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(a)See Note 2 — Regulatory Matters of the 2025 Form 10-K for additional information.
(b)The fair value of the DPL economic hedge is not material at June 30, 2026 and December 31, 2025.
Schedule of Interest Rate Derivatives
Below is a summary of the interest rate hedge balances at June 30, 2026 and December 31, 2025.
Derivatives Designated
as Hedging Instruments
June 30, 2026December 31, 2025
Other current assets$— $3 
Other deferred debits (noncurrent assets)3 — 
Total derivative assets3 3 
Mark-to-market derivative liabilities (current liabilities)— (4)
Mark-to-market derivative liabilities (noncurrent liabilities)— — 
Total mark-to-market derivative liabilities— (4)
Total mark-to-market derivative net assets (liabilities)$3 $(1)
Schedule of Notional Amounts of Outstanding Derivative Positions The following table provides the notional amounts outstanding held by Exelon at June 30, 2026 and December 31, 2025.
June 30, 2026December 31, 2025
5-year maturity floating-to-fixed swaps$60 $335 
10-year maturity floating-to-fixed swaps150 365 
Total$210 $700 
Cash collateral held with external counterparties The following table reflects the Registrants' cash collateral held from external counterparties, which is recorded in Other current liabilities on their respective Consolidated Balance Sheets, at June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
Exelon$244 $223 
ComEd221 192 
PECO6 6 
BGE2 4 
PHI15 21 
Pepco13 13 
DPL2 3 
ACE(a)
— 5 
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(a)ACE had less than one million in cash collateral with external parties at June 30, 2026.