COLUMBUS, Ohio - Power company Exelon Corp. is scheduled to report third-quarter earnings on Friday. The following is a summary of key developments and analysis related to the period.

OVERVIEW: Chicago-based Exelon is one of the nation's leading power generators and the top generator of electricity from nuclear plants in the U.S.

Like other utilities and power generators in the U.S., Exelon has been hurt by weak demand for power because of the recession and a cool summer in much of the country.

The Energy Information Administration has projected a 3.3 percent decline in electricity consumption this year with industrial demand especially weak. The agency says the rate of decline is expected to slow in the second half of 2009 and then pick up in 2010 as the economy improves.

To deal with the downturn, many utilities have cut spending. Exelon announced reductions in June that will achieve $350 million in operations and maintenance savings in 2010, a 3.5 percent cut. The company said 500 jobs will be eliminated.

During the quarter, the company said it was ending its attempt to buy power generator NRG Energy in a deal that would have created the nation's largest power generator. NRG maintained that Exelon's offer was too low.

Exelon also announced that it was dropping its membership in the U.S. Chamber of Commerce because of the chamber's opposition to legislation that would limit emissions of greenhouse gases. John Rowe, Exelon's chairman and CEO, has said inaction on climate change is not an option.

Exelon, with nearly $19 billion in annual revenue, has 5.4 million electric customers in northern Illinois and Pennsylvania. It also has 480,000 natural gas customers in the Philadelphia area.

BY THE NUMBERS: Analysts surveyed by Thomson Reuters expect Exelon to post profit of 96 cents a share on revenue of $5.4 billion. In the year-ago third quarter, Exelon made $700 million, or $1.06 per share, on revenue of $5.2 billion. Excluding charges, Exelon made $706 million, or $1.07 per share.

ANALYST TAKE: Angie Storozynski of Macquarie Securities said in a recent note that she expects cost cutting will help offset weak demand for power during the quarter, particularly in the Midwest. She said recent rate increases at Exelon's utilities should help results, but she is worried that Exelon's utilities will again lower forecasts for electricity demand. She has a "Outperform" rating on the stock with a $58 price target.

STOCK PERFORMANCE: After bouncing off its 52-week low of $38.41 reached on March 11, Exelon shares were flat for most of the third quarter. Shares opened the quarter at $50.57 and finished the quarter at $49.62.

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