Market implementation date for Northern Illinois region confirmed for Nov. 1

VALLEY FORGE, Pa., July 11, 2003 — The date for integration of Commonwealth Edison (ComEd) to begin operating in PJM Interconnection’s wholesale energy market is confirmed for November 1, 2003, PJM announced.

“Initially planned for October, an additional month will provide for added stakeholder input, training and education sessions with our market participants and states,” said Richard A. Wodyka, senior vice president, PJM. Wodyka noted that the decision to extend the integration date was based on feedback from stakeholders.

“PJM prides itself on an open, collaborative stakeholder process. Our members and state commissions have requested added time for participant readiness and we are being responsive to this feedback.” Wodyka noted that technical implementation is expected to be complete on schedule, in September 2003.

“We are committed to the integration of ComEd into PJM’s robust wholesale energy market,” said Betsy Moler, executive vice president, government and environmental affairs and public policy at Exelon Corp., ComEd’s parent company. “We are disappointed by the delay but we accept PJM’s decision. We look forward to completing the integration in advance of the winter heating season.”

In June 2003, PJM began providing administration of certain transmission services for ComEd’s Illinois territory. In April 2003, the Federal Energy Regulatory Commission approved ComEd’s request to transfer control of its transmission assets to PJM. In February 2003, PJM assumed North American Electric Reliability Council reliability coordination responsibilities for ComEd’s Illinois region.

PJM operates the world’s largest competitive wholesale electricity market and North America’s largest centrally dispatched control area. The company currently coordinates a pooled generating capacity of more than 76,000 megawatts and operates a wholesale electricity market with more than 200 market buyers, sellers and traders of electricity. PJM, the country’s first fully functioning regional transmission organization, has administered more than $15 billion in energy and energy service trades since the regional markets opened in 1997. More than 70 nations have sent delegates to PJM to learn about its market model and the operation of the grid in a region including more than 25 million people in all or parts of Del., Md., N.J., Ohio, Pa., Va., W.Va. and the District of Columbia. Visit PJM at www.pjm.com.

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