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News Breaks
January 31, 2013
18:04 EDTEXCExelon expects to record a 1Q13 non cash charge to earnings of $270M
Exelon announed in a regulatory filing that as previously dislosed in 1999, Commonwealth Edison Company deferred $1.2B of gain on the sale of its fossil generating facilities by acquiring like-kind property via a purchase leaseback transaction. The IRS has asserted that the Exelon Corporation purchase leaseback transaction is substantially similar to a leasing transaction known as a sale-in, lease-out transaction SILO. A SILO is a “listed transaction” that the IRS has identified as a potentially abusive tax shelter under guidance issued in 2005. Exelon continues to believe that its like-kind exchange transaction is not the same as or substantially similar to a SILO. Exelon expects to initiate litigation in 2013 to contest the IRS’s disallowance of the like-kind exchange position. As of March 31, 2013, in the event of a fully successful IRS challenge to Exelon’s like-kind exchange position, the potential tax and after-tax interest, exclusive of penalties, that could become currently payable may be as much as $860 million, of which approximately $260 million would be attributable to ComEd and the remainder to Exelon
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September 16, 2014
11:01 EDTEXCComEd awarded grant from Energy Department for microgrid controller
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September 3, 2014
09:23 EDTEXCUranerz Energy makes first Uranium delivery
Uranerz Energy (URZ) announced that it has delivered its first drums of uranium, as U3O8, produced from its wholly-owned Nichols Ranch ISR Uranium Project in the Powder River Basin of Wyoming, U.S.A. The shipment of approximately 36,000 pounds was received at ConverDyn's Metropolis Works Facility, located in Metropolis, Illinois, for subsequent transfer to one of the company's utility customers. Uranerz signed its first long-term uranium sales agreement in 2009 with Exelon Generation Company (EXC), and signed its second sales agreement with another major U.S. utility later that same year. This delivery will satisfy a portion of Uranerz' existing long-term sales contracts and the company expects to make its next shipment of uranium later this quarter.

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