Exelon Generation, Peoples Energy Announce Plans to Complete Power Generation Project

Apr 27, 2001, 01:00 ET from Exelon Generation

    CHICAGO, and KENNETT SQUARE, Pa., April 27 /PRNewswire/ -- Units of Exelon
 (NYSE:   EXC) and Peoples Energy (NYSE:   PGL) today announced they will jointly
 develop and operate a 350-megawatt, natural gas-fired "peaker" electric plant
 on Chicago's southeast side.  The plant will provide reliable electricity to
 the city in times of high electric demand.  It is targeted to begin operations
 in late spring 2002.
     Exelon's wholesale power marketing division, Power Team, will market the
 energy output of the plant for its affiliate Exelon Generation.  Peoples
 Energy Resources, a subsidiary of Peoples Energy that develops, owns, and
 operates power generation facilities, will provide fuel procurement.
     "This project is a good fit for both companies," said William Morrow,
 president of Peoples Energy Resources.  "Both Peoples and Exelon desire to
 provide clean and reliable energy to the people of Chicago.  As one of the
 first new gas-fired facilities located within the city, this plant will serve
 that purpose."
     "We are very pleased to be partnering with Peoples Energy in this
 project," said Charlie Lewis, vice president of strategy and development for
 Exelon Generation.  "This plant provides needed generating capacity in the
 city of Chicago, and will improve the reliability of electricity supply."  The
 proposed plan calls for the construction of the plant on a site owned by
 Peoples Energy, in an area about 10 miles from downtown Chicago.
     Eight General Electric gas turbines -- equipped with dry, low-NOx burner
 control technology to reduce emissions - will be installed.  The plant will
 operate only during periods of peak electricity use and emergencies to help
 ensure reliability of the local and regional electricity supply.
     Construction of the plant will take about 10 months and about 200 people
 will be employed during the construction phase.  The completed plant will
 employ about a dozen workers on a full-time basis.
     Peoples Energy currently co-owns and co-operates a 1,350 MW plant with
 Dominion in Elwood, Illinois.  Exelon is the Elwood facility's largest
 customer.
     Exelon Corporation is one of the nation's largest electric utilities with
 approximately five million customers and more than $15 billion in annual
 revenues.  The company has one of the industry's largest portfolios of
 electricity generation capacity, with a nationwide reach and strong positions
 in the Midwest and Mid-Atlantic.  It is headquartered in Chicago.
     Peoples Energy is a diversified energy company comprised of five primary
 business segments: Gas Distribution, Power Generation, Midstream Services,
 Retail Energy Services and Oil and Gas Production.  The Gas Distribution
 business serves about one million retail customers in Chicago and in
 northeastern Illinois.  Visit the Peoples Energy web site at
 PeoplesEnergy.com.
 
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SOURCE Exelon Generation
    CHICAGO, and KENNETT SQUARE, Pa., April 27 /PRNewswire/ -- Units of Exelon
 (NYSE:   EXC) and Peoples Energy (NYSE:   PGL) today announced they will jointly
 develop and operate a 350-megawatt, natural gas-fired "peaker" electric plant
 on Chicago's southeast side.  The plant will provide reliable electricity to
 the city in times of high electric demand.  It is targeted to begin operations
 in late spring 2002.
     Exelon's wholesale power marketing division, Power Team, will market the
 energy output of the plant for its affiliate Exelon Generation.  Peoples
 Energy Resources, a subsidiary of Peoples Energy that develops, owns, and
 operates power generation facilities, will provide fuel procurement.
     "This project is a good fit for both companies," said William Morrow,
 president of Peoples Energy Resources.  "Both Peoples and Exelon desire to
 provide clean and reliable energy to the people of Chicago.  As one of the
 first new gas-fired facilities located within the city, this plant will serve
 that purpose."
     "We are very pleased to be partnering with Peoples Energy in this
 project," said Charlie Lewis, vice president of strategy and development for
 Exelon Generation.  "This plant provides needed generating capacity in the
 city of Chicago, and will improve the reliability of electricity supply."  The
 proposed plan calls for the construction of the plant on a site owned by
 Peoples Energy, in an area about 10 miles from downtown Chicago.
     Eight General Electric gas turbines -- equipped with dry, low-NOx burner
 control technology to reduce emissions - will be installed.  The plant will
 operate only during periods of peak electricity use and emergencies to help
 ensure reliability of the local and regional electricity supply.
     Construction of the plant will take about 10 months and about 200 people
 will be employed during the construction phase.  The completed plant will
 employ about a dozen workers on a full-time basis.
     Peoples Energy currently co-owns and co-operates a 1,350 MW plant with
 Dominion in Elwood, Illinois.  Exelon is the Elwood facility's largest
 customer.
     Exelon Corporation is one of the nation's largest electric utilities with
 approximately five million customers and more than $15 billion in annual
 revenues.  The company has one of the industry's largest portfolios of
 electricity generation capacity, with a nationwide reach and strong positions
 in the Midwest and Mid-Atlantic.  It is headquartered in Chicago.
     Peoples Energy is a diversified energy company comprised of five primary
 business segments: Gas Distribution, Power Generation, Midstream Services,
 Retail Energy Services and Oil and Gas Production.  The Gas Distribution
 business serves about one million retail customers in Chicago and in
 northeastern Illinois.  Visit the Peoples Energy web site at
 PeoplesEnergy.com.
 
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                http://tbutton.prnewswire.com/prn/11690X61167281
 
 SOURCE  Exelon Generation