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Chairman Murkowski and Members of the Subcommittee:

I am Corbin McNeill, Chairman, President, and Chief Executive Officer of PECO Energy Company. PECO Energy, headquartered in Philadelphia, is a diversified energy company providing retail electric service throughout southeastern Pennsylvania and retail gas service in suburban Philadelphia. PECO Energy is also engaged in retail and wholesale electricity markets throughout the United States. The company's retail electric affiliate, Exelon Energy, is currently the largest non-utility supplier of retail electricity in the nation in terms of customers served, and PECO's Power Team is engaged in wholesale electric and gas sales in 47 states and Canada.

PECO Energy is also a partner with British Energy in AmerGen Energy Company, a limited liability corporation established in 1997 to acquire nuclear power plants in the United States. To date, AmerGen has announced agreements to acquire six nuclear reactors: Three Mile Island Unit 1 in Pennsylvania, the Clinton Generating Station in Illinois, Nine Mile Point 1 and 59 percent of Nine Mile Point 2 in New York, Oyster Creek in New Jersey, and Vermont Yankee.

My testimony today is on behalf of the Edison Electric Institute (EEI), the Nuclear Energy Institute (NEI), and the Utility Decommissioning Tax Group.

EEI is the national association of U.S. shareholder-owned electric utilities, their affiliates and associates worldwide. EEI's members serve approximately 75 percent of the nation's electric customers.