ML17252B187

1969 Commonwealth Edison Company Annual Report

ML17252B187
Person / Time
Site:	Dresden
Issue date:	12/31/1969
From:	Commonwealth Edison Co
To:	US Atomic Energy Commission (AEC)
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Download: ML17252B187 (28)

Text

G Commonwealth Edison Company Annual Report ~0-J, c/-9 1969 fteO'ulatory ia ey:

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Our front cover shows the area north The annual meeting of stockholders will This 1969 Annual Report has been of Chicago's loop at the end of the day. be held in Chicago on April 27, 1970, approved by your Board of Directors. If The outer drive, Lincoln Park, and the and you are cordially invited to attend. you have any questions about the Report high-rise array above the gold coast Formal notice of the meeting along with or the Company, please write our glitter like jewels on black velvet. The your proxy material will be mailed Secretary, William H. Colwell, picture was taken from the top of the 100 about March 25. After the meeting, P. 0. Box 767, Chicago, Illinois 60690.

story all-electric John Hancock Center. a summary of the proceedings will be sent to you.

1969 Highlights 1

1969 Change Since 1968 Averag e Annual Change Since 19641 Net Income on Common Stock $126.1 million up 0.5% up 4.8%

Earnings per Common Share $3.00 up 0.3% up 4.6%

Cash Dividends Paid per Share $2.20 up 8.7%

Electric Operating Revenues $801.1 million up 7.5% up 6.4%

Average Residential Revenue 2 2.53¢/ kwh down 1.2% down 1.7%

Sales to Ultimate Consumers 42.9 billion kwh up 8.1% up 7.8%

Average Residential Use 5,174 kwh up 6.9% up 7.0%

Electric Customers at December 31 2.54 million up 2.2% up 1.7%

Peak Load 9.27 million kw up 3.5% up 8.4%

(1) Central Illinois El ectri c and Gas Co. figures in cl uded for periods prior to th e Dece mber 9, 1966 merger.

(2) Excludes light bulb service.

Letter to stockholders 2 How to preserve our air, water and land reliable but also the most economical.

is the question of the day. Our public is T his means smaller power systems may concerned and so are we. We also are increasingly choose not to make their concerned in the public interest about own electricity, but instead to buy it an adequate and uninterrupted supply from larger complexes built by larger of energy. We know from experience companies. Law and custom may resist that the public demands it. this, but technology, economy and environme nt may require it.

Because of t hese concerns I f eel I should give you my views as to how In our business, we must plan and electric power supply should be handled begin construction years ahead of need.

in the long-term future to minimize To anticipate public wishes in a timely intrusion upon our environment. way, we can accent one or another of the environmental alternatives which First, large generating complexes should technology and economy allow. But be located away from urban areas. stations cannot be rebuilt overnight.

These complexes can make use of New nuclear units do not spring several power sources. They may be magically from the ground. Fuel sources fossi 1-fi red, present-day nuclear take time to develop and to modify.

machines, or breeder or fusion reactors. Nevertheless, we have done much Nuclear units and their successors will quickly, and we shall do more soon. We be in every way fine neighbors. Quiet. will eliminate our share of pollution in Absolutely safe. No long strings of coal just as short a period as meeting our cars. Not a trace of smoke or soot. And electrical commitments to the people designed to satisfy tough water of Illinois will allow.

temperature standards.

And there is no doubt in my mind that These generating complexes should we will furnish power in the future in be linked to each other and to city and a way that makes northern 111 i no is a industrial load centers. The result will be better place in which to live.

a grid with stations and transmission lines of great capacity. Sincerely, Huge power demands require big units and big interconnecting lines.

Even with our present technology we are building them with almost no adverse ecological effect. Fortunately, such a J. Harris Ward bulk power system is not only the most Chairman

1969 Review Earn ings, dividends flat Stockholders are entitled to a had a 7.6 percent gain . These compare Our earnings for 1969 were $3.00 per competiti ve return on their investment. with average annual increases of sales common share, virtually unchanged To supply this and to compete and revenues during the 1960's of 7.4 from 1968's level of$2.99or1967's effectively in the money markets, we and 5.4 percent. It is nice to close out the

$2.98. Net income on common stock require a rate increase. soaring sixties with increases which are totaled $126 million, about the same as well above average for the decade. We that of the prior year. Good sales performance are confident about Edison's ability to This need for rate relief is not caused continue to increase-at a good pace-Dividend payments during 1969 were by laggin g sales growth. During 1969, its sales and revenues durin g the 1970's.

$2.20 a common share, the same as in each of our four major classifications 1968, and only 10 cents more than in of kilowatthour sales and revenues had At December 31, we had 2.54 million 1967. T his leveling off in earnings and fine increases. Electricity sales to customers on our lines, 2.2 percent or dividend growth contrasts with good ultimate consumers increased 8.1 55 thousand more than at the end of 1968.

increases in the preceding years. percent over 1968, and related revenues Increas e Kilowatthour Increase 3

1969 Revenues and Sales El ectric Operating Revenues Ov er Sal es Over (thousands) 1968 (m illions) 1968 Residential $303,981 7.9% 11,826 9.2%

Small commercial and industrial 286, 199 6.0% 13,378 6.6%

Large commercia l and industrial 139,443 10.2% 13,781 9. 4%

Public authorities 48,650 9.0% 3,563 6.8%

Electric railroads 5,355 385 Ultimate consumers $783,628 7.6 % 42,933 8.1 %

Sales for resa le 9, 767 1,454 Other revenues 7,754 Total $801, 149 44,387

Expenses up $47 million Other operation and maintenance A burdensome new 1969 tax was the Electric operating expenses during 1969 increased $12 million or 7.6 percent, due Illinois income tax, levied at 4 percent totaled $426 million, $47 million or 12.4 mainly to higher payroll costs. Added for corporations. The state income tax percent higher than last year. $28 plant pushed depreciation expense up was effective on August 1 and cost million of the increase was due to $7 million or 7.4 percent. stockholders 3 cents per share on 1969 higher fuel and purchased power earn ings. We estimate the 1970 effect expenses. This was a result of having Taxes cut earnings to be on the order of 8 cents. On the to buy higher cost fuel and more of it, During 1969 we paid or set aside $207 other hand, reduction in the federal and-among other purchases-of having million in state, federal and local taxes income tax surcharge should help to to import power to cover Dresden 2's of all kinds and sizes. offset 1970 increases in taxes and other delay. operating costs.

4 1969 Electric Operating Expenses 1969 Increase (thousands) Over 1968 Fuel and purchased and interchanged power (net) $154,351 22.2%

Other operation and maintenance 170,615 7.6%

Depreciation (straight line) 100,941 7.4%

Total $425,907 12.4%

Power for People in the '70's is the theme of this report. Edison facilities, like this strain insulator, tie together the vital activities of northern Illinois. Shown here are a man on Ford's Chicago assembly line, one of our nuclear plants under construction, and Amoco's refinery near Joliet.

Interest costs jump 28% Progress on rate request ... the ultimate purpose being to Interest charges on debt during the year On August 15, 1969 we filed with Illinois determine and allow a fair return to the were $62 million, up $13 million or 28 Commerce Commission proposed new owners ... " Fair value is less than percent over 1968. This big increase was rates which provided for a 6.1 percent today's replacement cost, but it ought to due to new bond issues and interim revenue increase . The Commission must be substantially more than original cost.

short-term financing at record-breaking render a decision within 11 months of In these inflationary times, fair value is a interest rates. Regardless of capital initial filing or, in our case, by July 13, far more just standard than original cost.

costs, we must raise the money required 1970. We, of course, hope for an earlier to carry out our construction program. ruling and are doing all we can to hasten We do not like rate increases because We expect another sizeable in crease in the hearings. they impair our ability to compete in the interest costs during 1970. energy market. Indeed, in the 1960's we Under Illinois law, we are entitled to reduced our customers' rates time after rates which give us the opportunity to time. However, inflation has more than earn a fair return upon the fair value of counterbalanced our cost-control efforts, our plant. Establishment of fair plant and we have reluctantly applied for a value involves among other things "the rate increase.

fair consideration of current price levels, 5

Why rate relief vital Our business is growing rapidly and we A modest request The captions in this annual report tell must expand our facilities to serve it. But A 6.1 percent rate increase request is the story: "Earnings, dividends flat", since 1963, our generating station modest. Other electric power companies "Expenses up $47 million", " Taxes cut construction costs per kilowatt have risen around the country have asked for far earnings", "Interest costs jump 28%", by up to 80 percent, and interest rates more. We did not request 6.1 percent in "Plant budget up $250 million", "$396 have nearly doubled. We must meet the hope of getting something less.

million for 1969 construction", "$1 billion expanding load commitments with far Instead, we asked only for the amount we of new securities needed", "Wages up more expensive new facilities. The result must have, and we hope to receive that 6%, benefits higher". The pressures of is the largest constructi on budget in our amount in full.

rising expenses are heavy and have in history which must be financed at turn leveled our earnings. near-record interest rates. Preserving Lake Michigan Clean air and water is an idea whose Today 's investors require far higher hour has come. The center insert of this returns than they once did, and we must report outlines what Edison is doing to pay their price to use their money. To reduce pollution. We are deeply attract capital we need greater earnings. concerned, and recognize that others In short, we need a rate increase. are, too. Not all concerns, however, have equal basis in fact, and a recent exam ple of this has to do with Lake Michigan.

6 These finely machined control rod drive housings in an Edison nuclear plant help provide electricity to people in farms and homes across our 13 thousand square mile service area.

Zion safe for lake circulating one pint of tepid water in a Gas negotiations begin Two suits were brought last fall to halt good sized swimming pool. In December, Edison made a joint construction of our Zion Nuclear Power announcement with Northern Illinois Gas Station. Each claimed that Zion would The temperature of the water returned to Company that negotiations were under damage Lake Michigan. Zion Station will the lake will be under 85 degrees, way for acquisition of our subsidiary, not harm Lake Michigan. meeting the limits set by the State of Mid-Illinois Gas Company.

Illinois and approved by the U.S.

Zion Station is being built under rigorous Department of the Interior. Indeed, the We have been approached by several Atomic Energy Commission standards. Federal Water Pollution Control companies in addition to Northern The water returned to the lake at Zion Administration has stated that the Illinoi s. Since we have a valuable will be safe. In fact, insofar as combined annual effect of all existing commodity, we expect to be able to radioactivity is concerned, one could plants plus all proposed nuclear plants make an agreement which is fair to our drink it for a lifetime without harm. on Lake Michigan would raise overall lake stockholders, protects our gas employes, temperature by less than 1/ 10th of one and is in the public interest. We Our extensive studies indicate that fish degree Fahrenheit. Even this small rise anticipate that arrangements will be and plant life will not be injured. Indeed, tends to cancel out each winter. completed during 1970.

one of the best fishing spots in our area Interestingly, the average annual is off our Waukegan plant, south of temperature of the lake has actually Zion. The amount of water passed dropped about two degrees in the past daily through Zion's sealed condensing century.

system will be roughly equivalent to 7

CILCo merger talks ended Peak s um mer load economy on a system the size of During 1968 and 1969, we conducted A record peak load of 9.3 milli on Commonwealth Edison's must surely talks with Central Illinois Light Company kilowatts was set July 16. This was only a exceed several hundred millions of on the possibility of merger with Edison. 3.5 percent increase over 1968's highest dollars. For example, last fall a national In June, 1969 we made an offer whi ch load, compared with an unusual 17 magazine estimated that by purchasing would have allowed CILCo's common percent rise between 1967 and 1968. four nuclear uni ts at fixed prices Edison stockholders to elect securities giving Because of the variability of summer had saved "about $200 mil lion."

them premiums of over 85 percent on weather, we have come to expect that income and 25 percent on market price. heat sensitive loads will not march Fast-start peaking units In Octobe r, CILCo's management evenly upward year after year. During 1969 we placed on our system 575 rejected our terms and broke off thousand kilowatts of fast-start peaking negotiations. We do not expect the On the average, however, our summer capacity, bringing our total of such talks to be reopened . peak loads are growing at over 8 equipment to 1.24 million kilowatts, more percent each year. To meet them our than any company in the country. An engineers, purchasing and construction additional 380 thousand kilowatts have people must plan, buy, build and bring been ordered for 1970 service, though into effective service hun dreds of abou t 200 thousan d ki lowatts may miss millions of dollars worth of new plant th e summer peak due to t he General each year. The range between Electric strike.

extravagance and perfect investment 8 Homes are heated with the help of these insulators at one of our 125 transmission substations.

Generating capacity additions Unit Type Schedu led for Net Capacity (kilowatts)

Dresden 2 Nuclear Spring '70 809,000 Peaking Gas & Oil Spring, Summer '70 380,000 Dresden 3 Nuclear Winter '70-'71 809,000 Quad-Cities 1 Nuclear Spring '71 809,000*

Quad-Cities 2 Nuclear Spring '72 809,000*

Zion 1 Nuclear Spring '72 1,100,000 Powerton 5 Coal Spring '72 840,000 Zion 2 Nuclear Spring '73 1,100,000 None '74 None '75

• Iowa-Illinois Gas and Electric Company has a. one-quarter ownership interest in the two Quad-Cities units.

T hese machines are economical for capacity of 809 thousand kilowatts and Detroit Edison for a 624 thousand kilowatt meeting short periods of peak demand will be followed within about a year by share of their Ludington, Michigan because their low capital costs offset two more nuclear units, Dresden 3 and pumped hydro generating plant. Power their higher fuel costs. They burn gas or Quad-Cities 1. would be purchased under a long-term oil and can be brought on line in small agreement to begin in 1974.

increments on short notice. Perhaps best These plants must meet rigorous of all, the fast-start units allow us to construction standards before being Electrical demands are lower at night retire smaller coal-fired boilers granted an operating license by the and so nighttime energy is most around the City of Chicago, and thus Atomic Energy Commission. Because of economical for us to produce . During contribute to our efforts to curb air the care with which they have been the night, energy from our nuclear units pollution. built, we expect them to be absolutely would be employed to pump water to an safe, and more reliable than any of our elevated storage reservoir on the First big nuclear unit large coal-fired units. Nuclear units eastern shore of Lake Michigan. During This spring Dresden 2, the first of our produce electricity without smoke, soot daylight hours the water would be large second generation nuclear units or dust, and are, therefore, the keystone released, electricity generated, and the will be placed in commercial service, of our clean air program. energy returned to us over high voltage and should be starting up as you read transmission lines.

this report. Dresden 2 has an ultimate Pumped hydro power Nuclear generation also fits well with pumped hydro generation. We are negotiating with Consumers Power and Skilled people controlling intricate 9 machines-computers, airplanes and Edison junction boxes-make our electrified urban society possible.

On average, about three off-peak Plant budget up $250 million The new $1.95 billion budget includes kilowatthours would be used up for For electric generating units, expenditures of $520 million in 1970, every two on-peak kilowatthours transmission lines, distribution facilities $470 million in 1971, $305 million in 1972, generated. However, high daytime and and other plant, we plan to spend $1.95 $280 million in 1973, and $375 million in low nighttime demands plus billion during the five years 1970 through 1974.

around-the-clock loading of our nuclear 1974. This compares with $1.7 billion machines make the transaction an budgeted for the period 1969-1973. The totals after 1971 are somewhat economic one. Also, this and other lower than they would otherwise be power purchase agreements will The increase from $1 .7 to $1 .95 billion because no major generating units are allow us to forego construction of any for the different budgeting periods scheduled to begin service in 1974 or major generating units for 1974 and 1975 results in part from the strong sales 1975. Allowan ce has been made, service. growth we expect. However, inflation however, for initial outlays for and environmental considerations also construction of 1976 and 1977 units.

In the nearer term, purchased power play their parts.

contracts, strong interconnections, our fast-start peaking units, and the larger units coming on in the early 1970's should provide adequate reserve margins for meeting the needs of our northern Illinois service area.

10 A man involved in his work and a steel furnace ladle are both served by graceful 138 thousand volt transmission lines.

Air Pollution in the Chicago Area What Commo nwealth Edison is doing " ... everybody-beginning with to help reduce it, an d what we will do, ourselves-must do more to make our and when. city, our nation , our world, a better, brighter, sweeter (and not just richer) place for us and our children to enjoy."

Air pollution is a serious matter, for all The Rules We Live By citizens in every city, in every developed Years ago, Commonwealth Edison country in the world . decided that we had these obligations to the community:

It is too serious to become a political football, or an emotional and partisan 1. To provide the amou nts of electricity issue, or a platform on which companies needed, where needed and when can thump their chests and proclaim needed, wi t hin the area we serve, and their virtue and good citizenship. Deeds, reserve margins to handle emergency not words, are what the public is looking conditions.

for-and has a right to get.

2. To do t his at the lowest possible cost Commonwealth Edison has already spent to the consumer.

$53 million on facili t ies to prevent contaminants from getting into the air; 3. To an ti cipate future needs, often and is spending hundreds of mil lions on invo lving years of lead-time for the new nuclear stations which add no fumes manufacture and installat ion of or dirt to the air. necessary fac iliti es.

But it is beside the point that we have 4. To do all this wh ile min imizing actual spent "x" mill ions of dollars, and and pote ntial polluti on .

committed millions more .

W hat is important is not so muc h what we have done as what we will do. We recognize the gravity of the problem, an d accept the plain fact that everybody-beginning wi t h ourselves-must do more to make our city, our nation, our world, a better, brighter, sweeter (and not j ust ri ch -

er) pl ace for us and our childre n to en joy.

" ... the waste particles which people call 'smoke' can be almost entirely prevented from escaping into the air ... "

Electric Power and Air Poll ution Commonwealth Edison produces and distributes the electricity on which practically every home, office, store, and industry in our entire area depends.

Our product heats and air-conditions the 100 story John Hancock Center and runs the elevators that make such a building possib le. It lights your home, operates your TV set, and may even brush your teeth .

Electricity must be always on tap, day or night, at t he f lick of a sw itch. It can't be stored until you need it. Most people have come to take it for granted .

How does Commonwealth Edison pro-duce electricity? Chiefl y by heating water in giant boilers to make steam power, which t urbines and generators convert into electric power.

We have three types of boile rs: coal-fired, natural gas or oil -fired , and nuclear-powered.

Nuclear reaction emits no fumes or smoke. Natural gas or oil burning releases some, but not much. Coal burning releases more, including sulfur oxides, but the waste particles which people call "smoke" can be almost entirely prevented from escaping into the air by the use of modern Before After electrostatic precipitators. This stack at our Joliet Station has its Soon afterward this unretouched photo electrostatic precipitator disconnected to shows the unit still in full operation-but show how much smoke would escape. with its modern precipitator connected.

" ... we account for less than 5 percent Sou rc es of Ai r Po llution of all contaminants in the air you The principal sources of air pollution breathe." nationally, according to an authoritative report by the National Academy of Sc iences ("Waste Management and Control") , are about as follows:

Cars, trucks, buses and - - - - - - - - - .

other transportation Industry Electric generation Space heating and refuse disposal Our Plan of Actio n These reductions are made possible in

1. To cut in half, within the near future, part by our nuclear program and by the amount of coal we burn in and converting an entire generating station around Chicago, and then to reduce it from coal to low-sulfur oil.

still more .

Also, within the last two years we have

2. To continue to improve our installed 1.24 million kilowatts of fast-electrostatic precipitators. Our goal is start generating units (another to try to have every preci pitator prevent 380 thousand in 1970), which burn only 98 percent or more of waste particles gas or oil and will permit retirement of from the coal we burn from getting into an entire Chicago coal-fired station.

the air.

2. We Are Installi ng More

3. To increase as rapidly as possible and Better Precipitators the share of nuclear power in our total Commonwealth Edison began installing production. precipitators as long ago as 1929. They have been steadily improved to reach 4: To use all the natural gas we can get. their present levels of efficiency. The To introduce new low-sulfur oil. And to newest electrostatic precipitators prevent continue our efforts to obtain and burn all but a small amount of the low-sulfur coal. "particulates," or waste particles from the coal we burn, from getting into the air.

Here are details of our Plan of Action:

All coal-fired boilers in our metropolitan

1. We Are Red ucing the Amount area stations are equipped with of Coal We Burn precipitators. We have a few The best way for us to help reduce air preci pitators left that are not yet 98 These are national figures. In the case pollution is to burn less coal. This is percent efficient, but we're working of Commonwealth Edison, although not easy when the demand for hard to finish upgrading them. we burn two-thirds of all the coal electricity continues to grow. burned in the Chicago area, our control We have retired 47 coal -fired boilers in and dispersion methods are so Stil l, this is what we are achieving: Chicago within the past ten years. We effective t hat we account for less tha n Coal Electricity presently plan to have only nine left in 5 percent of all contaminants in the air (million tons) (billion kwh) Chicago by the end of this year. you breathe. Included in this 5 percent burned in Chicago area used in Chicago figure are sulfur oxide emissions. Most of 1965 .. .. .. .. .. 6X 14 the ground-level sulfur oxides come 1970 (Est.).. .. .. 4 18 from homes, stores, factories and 1975 (Est.) . . . . . . 3;{ 24 apartment buildings which Jack the tall stacks of our stations.

"Commonwealth Edison is complying, and will continue to comply in full, with all government laws and regulations on air pollution ... "

3. We Are Rapidly Increasing Our About 40 percent of our vastly greater burn successfully, because our boilers Nuclear Production of Electricity production of electricity will then be from and precipitators were not designed for Commonwealth Edison pioneered in the nuclear stations, which emit no fumes or it. Eastern low-sulfur coal appears to development of nuclear power nearly smoke. Our $900 million nuclear program present even more severe problems.

20 years ago. Our first nu clear unit has is the largest of any investor-owned But we continue to test.

been operating successfully at Dresden electric power company in the United for ten years. States. We have long participated in efforts to develop advanced methods of removing We now have six large nuclear units 4. We Are Using Natural Gas and gaseous sulfur oxides from stack gas.

under construction, two each at Low-Sulfur Oil, Testing Low-Sulfur Recently we have joined with 15 other Dresden, Quad-Cities and Zion. Coal, Researching the Removal of electric power companies, Esso Sulfur Oxides Research and Engineering Company The first is scheduled to be in operation Natural gas is available to us only in and Babcock & Wilcox Company in a this spring. All will be in operation limited quantities. We are using all we $7 million program for the development by 1973. can get. of an advanced air pollution control system of this kind.

We recently announced the 1970 conversion of our Ridgeland Station Commonwealth Edison is complying, (in Stickney, Illinois, immediately west and will continue to comply in full, with of Chicago) to low-sulfur oil-burn in g all government laws and regulations on equipment. Ridgeland was chosen air pollution, including Chicago's because its stacks must be lower than Pollution Control Ordinance.

those at other stations due to its nearness to Midway Airport. This ordinance, effective in July, 1970, This conversion alone will eliminate the requires that sulfur emissions be burning of 1.3 million tons of coal a year. lowered in progressive steps through 1974. The ordinance can be complied Another way to reduce air pollution is to with either by burning less coal or lower use coal with low-sulfur content. There sulfur coal.

is low-sulfur coal in Montana, Wyoming, and Colorado, and we have been testing We are following the first route, by it. We haven't yet found any we can cutting our coal burn in half, and we will meet the timetable of the ordinance.

Clean-Air Pellets: Each of these tiny This is better than just cutting the nuclear pellets contains as much sulfur content of the coal because all energy as a ton of coal. They produce combustion products are reduced. The electricity without any fumes, smoke or ordinance requires approval of our plan soot. to do so, and we have applied for this.

$396 million for 1969 construction We have announced that we expect to million of four-year bonds were sold by During 1969 construction expenditures market$100 million of equity securities competitive bidding at an annual cost were $396 million and plant retirements during 1970, probably towards the end of 7.73 percent before expenses.

and adjustments $30 million. Our gross of the year.

investment in plant and equipment at We postponed another $100 million of December 31, was $3.7 billion. In Short-term bonds five-year first mortgage bonds from addition, our nuclear fuel investment In the course of 1969, $175 million of November, 1969 until earl y January, 1970 totaled $71 million. first mortgage short-term bonds were because of what appeared to be an sold. In April, $75 million of five-year interest rate peak. In the January

$1 billion of new securities needed bonds were issued at an annual cost negotiated sale these bonds had an In the five years 1970-1974, about$1 to the Company of 7.42 percent before annual before-expenses cost to Edison of billion of new securities must be sold to expenses. Because of strong 8.61 percent. Though it cannot be help pay for new construction and demand, the issue was increased from precisely determined, we seem to have nuclear fuel. This is in addition to our $50 million to $75 million. In Jul y, $100 saved about half a percent by delaying January, 1970 bonds and refunding of the issue. If true, this amounts to about $275 million of bonds during the perhaps $2 million in interest savings period. over the five-year life of the bonds.

In the '70's, this young man probably 11 will seek his first job. He might eventually become an editor, a skilled craftsman or a computer programmer.

Whatever his employment, he and hundreds of thousands like him will need increasing amounts of electricity.

1969 funds statement (Thousands)

Funds provided by:

Net income less dividends $ 33,585 Depreciation and tax deferrals 118,413 Funds provided internally $151,998 Sales of securities 179,728 Bank loans and commercial paper (net) 86,075 Change in working capital and other items 21,487 Total funds provided $439,288 Funds applied to:

Construction expenditures $396,261 Nuclear fuel expenditures 36,285 Sinking fund debt retirements 6,742 Total funds applied $439,288

A new bond - bu yi ng publ ic Other 1969 f in ancing In the fall of 1969 Edison renewed $50 It appears that a new market is As we have done in the recent past, million in bank loans at the prime rate developing among smaller investors we used commercial paper (notes from Chicago banks, and at December for these short-term issues. On the two payable) in 1969 to allow ourselves 31 our subsidiary, Mid-Illinois, had $24 1969 sales totaling $175 million, about choice in timing debt issues. At million of bank loans outstanding.

10 thousand separate holders have been December 31, 1969 we had $86 million registered with the mortgage trustee. in commercial paper outstanding. During the year we reacquired $11 This contrasts with about a third that million principal amount of sinking fund number registered for $175 million of Commercial paper costs money. Short- debentures. At year end, our 30-year, long-term Edison bonds sold term rates have been no cheaper than capitalization was 56 percent bonds and during 1968. We are glad to be reaching long-term ones and cut into earnings in debentures, 6 percent convertible this mass market of smaller investors. the same manner. Our assumption in preferred stock and 38 percent common using short-term bonds, commercial stock equity.

paper and bank loans is that the staggering interest rates now being charged wi II decline sooner or later, and that we should avoid being locked into long -term obligations at t he current high rates.

12 Food, clothes and exercise are three staples of human life. Electricity helps process coffee cakes at the Kitchens of Sara Lee, show merchandise to its best advantage at Goldblatt's, and light and heat the gym at Hampton Park's all-electric junior high school.

The Midwest's refiner Th ree other large motors totaling $10 million from giants The Chicago area has struck oil. another 20 thousand horsepower also Northern Petrochemical and Union Oil, Northern Illinois within five years may went our way. The new Lemont refinery when completed, will contribute close to well become the refinery center of the will be one of the most electrified in the $10 million to our annual revenues. If Midwest. Most of the refineries are or world. It will have a demand of 70 fully operative today, these giants would will be located southwest of Chicago thousand kilowatts and run at 95 rank th ird and fourth among our large along the Illinois Waterway. The Union percent load factor. Another oil customers.

Oil plant at Lemont will use electricity company is now doing site work for a to drive its huge 19 thousand horsepower refinery even larger than Union's. Completion of new oil pipelines from centrifugal blower. Our salesmen helped Canada and the Gulf Coast to our area to convince Union's management that Chemical processors are first cousins to coupled with the market advantages of an electric motor served from our lines refineries and often locate near them. A a northern Il linois address have led to is more economic than the steam-driven number of such plants are in operation this sudden blooming of massive new turbine traditional in oil refineries . or building in our service area. They join electrical loads.

a giant, the Northern Petrochemical complex, being developed in three stages over the next several years.

An Edison lineman puts his finishing 13 touches on transformers added to serve the expanding power requirements of people. The vitality of our area's commerce and the quality of its goods are shown by pictures of Chicago's Board of Trade and of a gleaming row of electric ranges.

Wages up 6%, benefits higher 181 thousand stoc kholders Boa rd and management changes As a result of union agreements signed At year end, we had 181 thousand At the 1969 Annual Meeting last May, last spring, hourly wage rates increased stockholders, down about 2 thousand Joseph S. Wright was elected a Director an average of 6.2 percent. Pensions, from a year ago. The slight decrease of Commonwealth Edison. Mr. Wright insurance and other fringe benefits probably is due to expansion by is Chairman of the Board of Zenith added the equivalent of another 6.4 institutions of their holdings of Edison Radio Corporation. At year end, John L.

percent to payroll. These increases stock. There were 169 thousand holders Gordon, Chairman of the Board of the amount to abou t $12 million on an annual of 42 million common shares. In addition, Central Illinois Electric and Gas Co.

basis. Wages have been renegotiated 12 thousand stockholders owned over 4 Division, retired from active service .

each year. Fringe benefits, however, had million shares of our convertible not been negotiated for five years, and preferred stock. During the year, Wallace B. Behnke, Jr.

the increase in benefits should be was elected a Vice-President, Byron looked at in this light. About 120 thousand shares of common Lee, Jr. was named Assistant to the were acquired by employes during 1969 President, George P. Rifakes, was At December 31, 1969 we had just under under the stock purchase plan, and 43 appointed Manager of Fuel, and 14 thousand employes, an increase of percent of Edison's employes were in Charles G. Harnach was promoted to 167 over the same date a year earlier. the plan at December 31. Division Vice-President of our Southern Division.

14 The future of our whole metropolitan world depends upon children such as this. It is Commonwealth Edison's role to furnish clean, reliable, plentiful and economic electric power to him and to eight million others in the '70's.

Statements of consolidated income Commonwealth Edison Company a nd Subsidiary Companies 1969 1968 (Thousands)

Electric Operating Revenues $801,149 $745,345 Electric Operating Expenses and Taxes:

Fuel .. .. .. . . ...................... .. ................ . ............. . .. . ..... . ....... .. .. . ... . .. . ... . .... . . ... . ... . .. . . . . .. . .. . $137,577 $123,281 Purc hased and interchanged power (net) .........................* . ... .. .*.. .. ....... . .. .. . . . .. * ..... ... . . . . . . . .. .* .. . .. .. 16,774 3,080 Operation . .. .. .. . .. .. . ... . . .. . ... .. . . . ..... . ......... .. .... . ....... . ............ . ...... ... ........... . ............. . ..... . . . 123,301 112,084 Maintenance ........ . .......... . ...........* . ..... . .. .. .....*. . ................................ . ........ .. .. . .. .. . ... . .. . ... 47,314 46,424 Depreciation (straight line) ... ... ... . .. . . . ............. . ..... . ...... . ...... . . .. .... . ... . .......... . . . . . . ... . . ... . . . ... ..... . 100,941 94,021 Taxes (except income) . . . ... .. . . .. ... ... . ............ . ........ . .......... . .... .... .... .. .. .. .... . ... . . .... . ... . . .. ....... . . 117,617 104,721 Incom e taxes-Federal . .*.. . .............. . . . .*........ . ...... . ............ . .... . ........ . ........ .. ............... . ..... . . ... . .. . .. . .. . . 73,409 85,640 State .. ... . . . . . . . . . . .. . ......... ... . . . ... . . . .... . ... ..... ...... . . . ........... . .. .. . . ... .. . . ..... . . .... .. .. . .. . . ...... ... . . 2,483 2 Deferred (net) . .. .. .......... . ...... . ...... . ....... . ......... . *. .. . . ..... . .... . ... . ........ . . . ... . . . ... . . ... . . .... .. .. .... . 13,645 11,947 3% investment tax credit defe rre d (net) .. . . . . . . . .... ... . ......... . . .. ............ ... .... . ... .. . ..... ... ........... . .. . . . .. . 3,827 5,983

$636,888 $587,183 Electric Operating Income $164,261 $158,162 Other Income:

Operating income of gas and steam heating properties prior to transf er to Mid-Il linois Gas Company . .. .. . . . .... . .. .... .. . $ $ 3,688 Net income of Mid -Ill inois Gas Compa ny .. . ........... . . . ...... . ... . . ..... .. .. .. .. . .. . .. .. . .. . .. . . ... . ... .... . *. ... ...... . . 2,727 15 Miscel laneous (net) .. . .............. . .. . .... . ... . . . ... .. ...... . . . ... ... ... . .... .....* .. .. .... ... . . . . .... .... . ........ . . .... . . 6,952 6,248

$ 9,679 $ 9,936

$173,940 $168,098 Deductions:

Interest on debt . ... . . . . .. . ... . ..... . . . . .. ...... ... ... .. ...... . .. . . ... . .... . .. ... . . ... . ... . . ... ........ . .. ..... .. . . . . . .. .. . .. . $ 61,672 $ 48,241 Other dedu ctions .. .. .......... . . . ..... .. ..... . .. . .. .. ......... . . . ....... . .. .. .. . . ... .. .. . . .. ..... . .. . . .. ... . . . ....... . '. . ... . 2,142 1,016 Interest charged to construction . . ... . .. . . ... . . . .. ... . ..... .. ....... .. .. . . .. .... . ...... . . .. . . ..... ..... ......... ...... .. . .. . 22,219 12,923

$ 41,595 $ 36,334 Net Income ... .. .... .. .......... . ... . .. . . . ..... . ... ... ... . ....... .. ... .. ... ............ ... . . .................... . $132,345 $131,784 Provision for Preferred Stock Dividends . .. . .... . . .. . . ... . ....... .. . ... .... .. ....... . ........................ . ... . . . 6,207 6,212 Net Income on Common Stock .. . . . ...... . .. ..... . ... . ... . .... ... ..... . .. ... .. .. . .. . ... . .. . . ... ... . ..... . ...... .. . . $126,138 $ 125,552 Average Number of Common Shares Outstand ing .. . .......... . .......... . ................ . .. .. . .. ... . ..... ....... . .... . . . 42,054 41 ,947 Earnings Per Common Share ...... .. .. ..... ... .. . .......... . .. .. .. ... . . . ... . . .. .... ................ . . . . . . .. . .. . . . $3.00 $2.99 Notes:

(1) On December 30, 1968, the Company's gas and steam heating prope rties we re transferred to Mid-Illinois Gas Company, a newly fo rmed wholly-owned subsidiary.

(2) The Service Annu ity Systems cove r all regular employes. Contributions to the trust funds totalled

$16.6 million in 1969, $5.7 million greater than 1968 due principally to improvements in pension benefits. Payments were equivalent to actuarial normal costs based on the aggregate cost method. The $255 million book value of the funds at December 31, 1969 exceeded the estimated actuarially computed value of vested benefits at that date.

Consolidated balance sheets 16 Assets December 31 1969 1968 (Thousands)

Utility Plant:

Plant and equipment, at original cost .. . ........... .. ................................................................. . $3,714,223 $3,347,661 Less-Accumulated provision for depreciation .... . .. ...................... ... . . .....*.... ............ .. ................ 1,006,821 933,122

$2,707,402 $2,414,539 Nuclear Fuel, at amortized cost ....... ... . .......... .................................................................. .. . 70,933 36,117 Deposit With Mortgage Trustee ................................. . . ....... . . . . ... ....................................... . 25,000 Investments:

Subsidiary companies not consolidated-Mid-Illinois Gas Company, at underlying book value ........................................ ... . ....... ... ........... . $ 18,471 $ 14,231 Other, at cost or less . ...... ............................. . ...... . ..... .. .. ......... ............. . . .................... . 7,749 7,749 Other investments, at cost or less .... . ............ . ....................... . . ......... . . . ..... . ... ....... .. .... . . ..... ... . 1,019 1,231

$ 27,239 $ 23,211 Current Assets:

Cash ..............................................................................................*........ .. .. ...... .. $ 12,631 $ 7,383 Temporary cash investments, at cost ................... . ............... .. ..... ........ .... .. .. ... ...... .. . . . ... ....... . 3,259 15,536 Special deposits ............................................................................. ....... ................... . 7,748 3,807 Receivables . . .............. ...... ..... ............. . ..*.. ...... . . . .. .. ....... ......... ............ . .... .. ..... . .. . . .... 72,117 60,032 Provision tor uncollectible accounts . . ........... ...... ... ... .... ........ . ..... . .......................... ........ ... . 1,500 1,850 Coal (at average cost) .. .. ..... ..... . .............. .. ........ . . . .... . . .. ....................... ... .. . ............ .... ... . 20,809 18,344 Materials and supplies (at average cost) . . ............. ......................................... . ..................... . . 20,824 16,858 Prepaid insurance, taxes and other items .......................................................... . .................. . 2,940 2,729

$ 138,828 $ 122,839 Deferred Charges .. ....... ...... .... ........ ........ . ... . . ........... * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

• 3,741 2,560

$2,948,143 $2,624,266

Commonwealth Edison Company and subsidiary companies 17 Liabilities December 31 1969 1968 (Thousands)

Capitalization (see statements on page 18):

Stockholders' equity ........ . . . ............... . .. . ... . .... . ............... .. .................... . ........... . . . . . .... . $1,070,000 $ 1,031,834 Long -t erm debt .. .. .. ..... .... . . ... ...... . . ....... ... .. . .............. .. . . ... . . . ... . ..... .. . ... ... ... ... . . ..... . ...... . . 1,362,475 1,198,769 Total Capitalization .... . ................. . .. . ............ *. .... ..... . . ... ................................... . ....... .. .. $2,432,475 $2,230,603 Current Liabilities:

Notes payabl e .. ............ . .......... . . . . . . . . . .. .... . ... ... . ................................................ . . . ... . .. . $ 136,075 $ 50,000 Accounts payable ...... ........... ... .... .... ........ . .. ...... . ............... . ..... .. ... .... .... . .. .. ... ............. . 38,630 30,299 Accru ed interest ...... ... ... .. . .. . .. ... ... .. .........* ..... . ... . ... . . ... *. . ..... . ..... ... ... . . ..... .... . . ... . .. ........ 22,004 15,702 Accru ed taxes ...................... . .. .. ....................... . ........... . ............ . ......... . ........ * . *. * . *. * * *

• 83,925 79,706 Dividends payable .. .. .. ............... . . .. ...... .. ...... . . ... ....... . .... ..... ............. . ........ ... . ........ . ..... . 24,725 24,659 Other .... .................... . ......... . ....... ... ....... . . ... . . ........... . ........ . ............ . ...... . .... .... ..... . 13,504 14,808

$ 318,863 $ 215,174 Deferred Liabilities:

Accumu lated deferred income taxes . ........... . .................. . . ......... .. . .... ... ... . .... ............. . . ......... . $ 149,875 $ 136,225 Accumulated deferred 3% investment tax credits being amortized over the lives of related property ............... . 28,299 24,470 Other ...... ......... .... .... ..... .. ... .. .. . ... . ... * * * .. * . . * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *

• 18,631 17,794

$ 196,805 $ 178,489

$2,948,143 $2,624,266 Purchase commitm ents, principally related to constru ctio n, at Dece mber 31 , 1969, approximated $745 million.

Statements of consolidated capitalization December 31 1969 1968 (Thousands)

Stockholders' Equity:

Common stock, $12.50 par value per share-Authorized 60,000,000 shares (632,633 shares reserved for Employe Stock Purchase Pl an and 2,611,823 shares reserved for conversion of preferred stock at Decembe r 31, 1969)

Outstanding-1969-42,134,836 shares . . . . . . . . . . . . . . . . . . . . . . . . . . $ 526,685 1968-42,011,402 shares . .... .. . .. ..... . .... ... .. . $ 525,143

$1.425 convertible preferred stock, without par value-stated value

$31.80 per share (each share convertible into 6/ 10ths of a common share-redeemable on or after Dece mber 9, 1971 at

$42.00 per sha re)

Authoriz ed and outstanding-1969-4,353,038 shares ....... . .. . 138,427 1968-4,359, 104 shares .. .. ...... . 138,619 Prior preferred stock- 1,850,000 shares auth.-None outstanding ... .

Prem ium on common stock (see statements on page 19) ...... .. . 90,574 87,343 Retained earning s (see statements on page 19) . . . ...... . . .. .... . 314,314 280,729 Total Stockholders' Equity ... ... .. .. .... .. ........................ .. $1 ,070,000 $1,031,834 Long-Term Debt:

First Mortgage Bonds-18 8% due July 1, 1973 . . ... . ..... . ....... . . .. .......... .. .. .. . ..... .. . $ 100,000 $

7.30% due April 1, 1974 ... ..... . . . ... .... ............ . .. ........... . 75,000 2.Ya% due January 1, 1975 .. ..... ............ ....... ...... .... . . .. .. . 790 800 3% du e February 1, 1975 . .. ... .. ............... .. .............. ... . . 10,603 10,603 3% due February 1, 1977 ... . ..... . .. ... ..... .......... . . .. .. . ..... . 180,000 180,000 2%% due July 1, 1977 ... . ......... ..... ... .................... .... . 2,050 2,075 3% due June 1, 1978 ........... . ... ...... . . . ... . . .. . . . . . . ......... . 50,000 50,000 3X% due January 1, 1982 ...... .... . ................ . .............. . 4,000 4,000 3.Y.% due Jul y 1, 1982 .... . . . .. ..... .... ... ....................... .. 40,000 40,000 3% due May 1, 1984 . . ... . ......... ... ......* . . ..... . ............... . . 50,000 50,000 3% du e April 1, 1985 . . ... . . . ...... ............... ... ... . . ...... . . 100,000 100,000 3%% due Jun e 1, 1985 . ........... ....... . .... .. .. .......... .... .. . 4,000 4,000 3X% du e Jun e 1, 1986 ........ . ...... . ............................ .. 40,000 40,000 4.Y.% due March 1, 1987 ........ . ..* . .. *. .. . ....................... . 50,000 50,000 3%% due March 1, 1988 ......... ..... . . .................... .. ... . . . 50,000 50,000 4%% due March 1, 1990 ... ..... . . .. ...... . .. ...... ... ............ .. 30,000 30,000 5% du e July 1, 1990 . . . . ... ................. . . . . ... ... .......... . .. . 10,000 10,000 5.Y.% du e April 1, 1996 . ................ ... . ....... .. .. ..... .... .. 50,000 50,000 5%% du e November 1, 1996 . ... .... .......... . . .. . ........... .. . .. . 50,000 50,000 5%% due Decemb er 1, 1996 ....... .. .. . ........ ... .. ... ... . .... ... . 50,000 50,000 5%% due April 1, 1997 ...... . .............................. ...... .. 50,000 50,000 6.Y.% due February 1, 1998 ...... . .. . .. . .... . ...... .. ... .. ....... .. . . 50,000 50,000 6%% due July 1, 1998 .... ... ... . .. . .. ... .... .. . . . ...... . ... .. . .... . 50,000 50,000 6%% d ue October 1, 1998 . . .... . ............. .................. . .. . 75,000 75,000

$1, 171,4431 $ 996,478 Sinking Fund Debentures-3% due April 1, 1999 .. . .......... .. . ........... ......... ... ...... . . $ 24,693 $ 27,546 2%% due April 1, 1999 ..... . ......... . .... .......... . ...... ...... . .. 24,996 28,367 2.Ya% due April 1, 2001 .. . . . .. .... ..... . .. .. . ... . .. .... . . . ......... . 29,241 29,527 3Ys% due October 1, 2004 .... .. ..... . ................ ........ ...... . 32,704 34,232 3Ys% due January 1, 2008 . .. .. .. . . ... ....................... . ..... .. 34,672 35,035 4%% due January 1, 2009 .. .. . . ..... . . .... . . .. .... . .............. . . . 13,832 15,225 4%% du e Dece mb er 1, 201 1 . . .... . ......... . ..... .. .. ... .. .. . .... . . 30,894 32,359

$ 191,032 $ 202,291 Total Long-Term Debt .......*.. ..... .............. ............... . $1,362,475 $1,198,769 Total Capitalization . ..... . ....... . .. ...... .. . .. . .. .... . *. . . .. ..... . . $2,432,475 $2,230,603 (1) Does not incl ude $100 million of8:Y. % first mortgage bonds sold on January8, 1970and due Jan uary1, 1975.

Statements of consolidated retained earnings 1969 1968 (Thousands)

Balance Beginning of Y ear .... . ....... . ... ... .......... . .. . ... .. ...... $280,729 $247,489 Add:

Net income . ..... . .... . ... . . . ... .. .. .. .. .. . . . . .... . ... .. .... . ....... . .. . 132,345 131,764

$413,074 $379,253 Deduct:

Di vidends on-Common stock . . . . . . . . .................. .. .. .. . . .... . ..... .. ...... . . .. . $ 92,553 $ 92,312

$ 1.425 convertib le preferred stock .. .... . . .... .. .... ... . . . .. .. ..... . . . . 6,207 6,212

$ 98,760 $ 98,524 Balance End of Year. .. .. . .. . .... .. . . . . . .. . ... . .. . .... . . ... . . . .... . .. . . . $314,314 $280,729 Statements of consolidated premium on common stock 19 1969 1968 (Tho usands)

Balance Beginning of Year . . ... . .. .. ...... ... ......... . . .. . . .. . ........ $ 87,343 $ 84,501 Add:

Premium on issuance of common stock...... ... . . .. . .... . .. . ... . ... . .. 3,231 2,842 Balance End of Year . .. . . . .. .... ... .... . . . ........ ... . . . . .. . . . . .. .. .. .. . $ 90,574 $ 87,343 Report of independent public accountants To the Stockho lders of Commonwealth Edison Company:

We have examined the consolidated balance In our opinion, the accompanying ba lance sheets and statements of capitalization of sheets and statements of capital ization, Commonwealth Edison Company (an income, retained earnings, and premium on Illi nois corporation) and subsidia ry companies common stock present fairly the financial as of December 31, 1969 and 1968, and the position of Commonwealth Edison Company related statements of income, retained and subsidiary companies as of Decembe r earn ings, and premium on common stock 31, 1969 and 1968, and the resu Its of their for the years then ended . Our examination operations for the years then ended , in was made in accordance with generally conformity with generally accepted accepted auditing standards, and accord ing ly accounting principles consistently app lied inc lu ded such tests of the accounting during the periods.

records and such other auditing procedures Arthur Andersen & Co.

as we cons idered necessary in the Chicago, Il linois circumst ances. January 29, 1970

Board of directors Hubert H. Nexon, Vice-President Transfer agents J. Harris Ward, Chairman Robert J. Schultz, Vice-President The Northern Trust Company, 50 South LaSal le Street, Th omas G. Ayers, President D. Robert Bower, Treasurer Chicago, Illinois 60690 John A. Barr, Dean, Graduate School of William H. Colwell, Secretary Manufacturers Hanover Trust Company, Management, Northwestern University 4 New York Plaza, New York, Ralph L. Heumann, Comptroller New York 10015 Joseph L. Block, Chairman, Executive Committee, Inland Steel Managers Old Colony Trust Company, Company One Federal Street, Raymond P. Bachert. Assistant Boston, Massachusetts 0211 O Lowell T. Coggeshall, Trustee, The Vice-President University of Chicago Registrars Paul W . Boyer, Assistant Vice-President Gordon R. Corey, Chairman of th e Continental Illinois National Bank and Finance Committee Oliver D. Butler, Assistant Vice-President Tru st Company of Chicago, 231 South LaSalle Street, Albert B. Dick Ill, Chairman of the Board, Lawrence A. Cullen, Manager of Chicago, Illinois 60690 A. B. Dick Company Industrial Relations (common stock only) 20 John L. Gordon, Form er Chairman of the Byron Lee, Jr., Assis tant to th e President Th e First National Bank of Chicago, Board, Central Illinois Electric and Gas Co. One First National Plaza, Division Richa rd E. Meagher, Manager of Chicago, Illinois 60670 Production (preferred stock only)

Brooks McCormick, President, International Harvester Company James J. O'Connor, Assistant Morgan Guaranty Trust Company of Vice-President New York, Morgan F. Murphy, Chairman 30 West Broadway, of the Executive Committee Harold W. Otto, Operating Manager New York, New York 10015 Edward Byron Smith, Chairman George P. Rifakes, Manager of State Street Bank and Trust Company, of the Board, The Northern Trust Fuel Corner of State and Congress Streets, Company Boston, Massachusetts 02101 Ernest M. Roth, Manager of Joseph S. Wright, Chairman of the Board, In vestm ents Both the common and preferred stocks are listed on Zenith Radio Corporation the Midwest, New York and Pacific Coast Stock Exchanges. Ticker Symbol-CW£ Roy A. Strobeck, Assistant Officers Vice-President J. Harris Ward, Chairman Grant H. Wier, Assistant Vice-President Thomas G. Ayers, President Division vice-p residents Gordon R. Corey, Chairman of the Paul J. Fenoglio, Chicago-South Finance Committee Clarence Hall, Chicago-Central Morgan F. Murphy, Chairman of the Executive Committee Charles G. Harnach, Southern, Joliet Glen W. Beeman, Vice-President Leslie W. Milligan, N orthern, Northbrook Wallace B. Behnke, Jr., Vice-President Arthur J. Moore, Rock River, Rockford John G. Eil ering, Vice-President James A. Schneider, Chicago-North All photographs except those on page 2, the midd le of page 5, and in the center section are credited Ludwig F. Lischer, Vice-President Robert B. Stringer, Western, Lombard to Stet Leinwohl.

Power for People in the '70's This map of Commonwealth Edison's In the broad corridor running south the map shows, there is plenty of room northern Illinois service territory shows from the Wisconsin border to below for growth in the years ahead outside both the huge loads we now serve and Joliet, growth often exceeds 100 percent. the metropolitan area.

the strong growth ahead of us. The color In the areas around Rockfo rd and south indicates the kilowatt demand by of Chicago we also are planning to meet Probably no other electric power townships during our 1969 summer peak big increases. company in the nation can match load. The bars show the percentage of Edison's service territory for balance load increase we expect by 1974-five In Chicago itself load growth-aided by between city, suburb and farm, trade years hence. big steel furnace and all-electric high- and commerce, huge and small industry, rise additions-is respectable. For and great concentrations of prosperous example, in one large section of the people.

city we expect load to increase by 80 percent in the next five years. And as

'%~ ~~

'<Pi%~-~

f:'Ci 9t; Load Growth-Next 5 Years 1969 Load Density-Kilowatts 7- t 'Ci

Commonwealth Edison Company

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