Baltimore Gas and Electric Company Gas Administrative Charge Calculations

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2 PART 1 Reduction to Rider 8 Targets Based on Case No Test Year Data General Reduction in Rider 8 Targets Residential Service Total Credit and Collections 1 $ 1,916,591 $ 135,214 $ 2,051,804 Uncollectible Expense 2 $ 3,422,906 $ 764,135 $ 4,187,041 Billing 3 $ 1,744,028 $ 109,502 $ 1,853,530 PSC Assessment 4 $ 361,844 $ 128,327 $ 490,170 Storage Inventory Carrying Costs 5 $ 1,921,761 $ 1,142,760 $ 3,064,521 Commodity Cash Working Capital 6 $ 423,569 $ 220,251 $ 643,819 Total $ 9,790,698 $ 2,500,188 $ 12,290,886 Notes 1- See Attachment A 2- See Attachment B 3- See Attachment C 4- See Attachment D 5- See Attachment E 6- See Attachment F Reduction to Rdr 8 - Part 1

3 Attachment A Credit and Collection Expense Calculations A Total Gas Revenue from End Users 1 CN 9406 Supp III.V(c) $ 625,953,961 B Gas Commodity Revenue Included in A CN 9406 Supp III.V(d) 227,076,859 C Percentage of Gas Commodity Revenue to Total Gas B/A 36.28% Revenue from End Users D CN 9406 Gas Credit and Collections Expense CN 9406 Gas allocation of total costs $ 5,530,942 E Estimated Gas Commodity Revenue Portion of Cost in D Above CxD 2,006,626 F Rider 12 - Gas Administrative Charge Credit and Collections Adder E $ 2,006,626 Reduction to Rider 8 Targets Calculation G Schedule D 2014 GCOSS Customer Accounts Expenses $ 1,942,094 H Schedule DH 16,925,240 I Total Residential G+H $ 18,867,334 J Schedule C 2014 GCOSS Customer Accounts Expenses $ 291,241 K Schedule CH 713,466 L Schedule CL 326,160 M Total General Service J+K+L $ 1,330,867 N Total Residential and General Service I+M $ 20,198,201 O Percent Allocated to Residential I/N 93.41% P Percent Allocated to General Service M/N 6.59% Q Residential portion of Credit and Collections FxO $ 1,874,389 R Combined GRT and PSC Assessment Rate S Residential reduction to Rider 8 Target Q/(1-R) $ 1,916,591 T General Service portion of Credit and Collections FxP 132,237 U Combined GRT and PSC Assessment Rate V General Service reduction to Rider 8 Target T/(1-U) $ 135,214 1 Excludes Other Gas Revenues and Off System Sales Credit and Collections - Part 1

4 Attachment B Uncollectible Expense Factor Calculations A Total Gas Revenue from End Users 1 CN 9406 Supp III.V(c) $ 625,953,961 B Gas Commodity Revenue Included in A CN 9406 Supp III.V(d) $ 227,076,859 C Percentage of Gas Commodity Revenue to Total Gas B/A 36.28% Revenue from End Users D CN 9406 TY Gas Uncollectibles Expense CN 9406 Supp III.D $ 11,286,788 E Estimated Gas Commodity Revenue Portion of Cost in D Above CxD $ 4,094,847 F Rider 12 - Gas Administrative Charge Uncollectible Expense Gross Up Rate E/B % Reduction to Rider 8 Targets Calculation G Schedule D 2014 GCOSS Uncollectible Expenses $ 1,846,945 H Schedule DH 14,215,325 I Total Residential G+H $ 16,062,270 J Schedule C 2014 GCOSS Uncollectible Expenses $ 519,817 K Schedule CH 1,611,066 L Schedule CL 1,454,680 M Total General Service J+K+L $ 3,585,563 N Total Residential and General Service I+M $ 19,647,833 O Percent Allocated to Residential I/N 81.75% P Percent Allocated to General Service M/N 18.25% Q Residential portion of Uncollectible Expense ExO $ 3,347,537 R Combined GRT and PSC Assessment Rate S Residential reduction to Rider 8 Target Q/(1-R) $ 3,422,906 T General Service portion of Uncollectible Expense ExP 747,310 U Combined GRT and PSC Assessment Rate V General Service reduction to Rider 8 Target T/(1-U) $ 764,135 1 Excludes Other Gas Revenues and Off System Sales Uncollectible Expense - Part 1

5 Attachment C GAC Cost Factor and Reduction to Rider 8 Billing Targets Annual Commodity Total Number Total Number Total Number Commodity Billing Costs in GRT and PSC Reduction to of Bills of Bills - DRS of Bills - Sales Price/Bill Base Rates Assessment Rider 8 Target a b c= a-b d e=c*d f g=e/(1-f) CN 9406 Supp III V(a) From 9406 Total Participation CN 8950 Phase III Stip and Agreement, Pg. 3 Total Schedule D 7,362,093 1,714,323 5,647, $/bill $ 1,705, $ 1,744,028 Total Schedule C 523, , , $/bill 107, ,502 1 Excludes CL AMR customers. 7,885, ,883,154 6,002,375 $ 1,812,717 $ 1,853,530 Billing - Part 1

6 Attachment D PSC Assessment Calculations Dec 14 - Jun 15 Jul 15 - Nov 15 A Gas Commodity Revenue $ 195,284,714 $ 31,792,145 B PSC Assessment Rate CN 9406 PSC Assessment Expenses Associated with $ 417,128 $ 62,249 Gas Commodity Revenues included in Base Rates C Total Sum AxB $ 479,377 D Rider 12 - Gas Administrative Charge PSC Assessment $ 479,377 NOTE: The actual PSC assessment in effect the month the MBR is filed will be used to gross up the Gas Commodity Price Reduction to Rider 8 Targets Calculation E Schedule D 2014 GCOSS PSC Assessment $ 34,612 F Schedule DH 462,017 G Total Residential E+F $ 496,629 H Schedule C 2014 GCOSS PSC Assessment $ 20,631 I Schedule CH 39,594 J Schedule CL 115,942 K Total General Service H+I+J $ 176,167 L Total Residential and General Service G+K $ 672,796 M Percent Allocated to Residential G/L 73.82% N Percent Allocated to General Service K/L 26.18% O Residential portion of PSC Assessment DxM $ 353,876 P Combined GRT and PSC Assessment Rate Q Residential reduction to Rider 8 Target O/(1-P) $ 361,844 R General Service portion of PSC Assessment DxN $ 125,501 S Combined GRT and PSC Assessment Rate T General Service reduction to Rider 8 Target R/(1-S) $ 128,327 PSC Assessment - Part 1

7 A Average Interstate Pipeline Storage Carrying Costs Baltimore Gas and Electric Company Attachment E Storage Inventory Carrying Costs Calculations 13-Months Avg. - FERC Acct $ 27,750,400 B After-tax ROR¹ CN % C Income Tax Gross-Up Factor² D Grossed-Up ROR³ B/C 10.80% E Storage Inventory Carrying Costs Portion in A above A*D $ 2,997,043 Reduction to Rider 8 Targets Calculation F Schedule D 2014 GCOSS Storage Gas $ 1,850,819 G Schedule DH $ 28,262,421 H Total Residential F+G $ 30,113,240 I Schedule C 2014 GCOSS Storage Gas $ 1,045,814 J Schedule CH $ 4,736,355 K Schedule CL $ 12,122,958 L Total General Service I+J+K $ 17,905,127 M Total Residential and General Service H+L $ 48,018,367 N Percent Allocated to Residential H/M 62.71% O Percent Allocated to General Service L/M 37.29% P Residential portion of Storage Inventory Carrying Costs E*N $ 1,879,446 Q Combined GRT and PSC Assessment Rate R Residential Reduction to Rider 8 Target P/(1-Q) $ 1,921,761 S General Service portion of Storage Inventory Carrying Costs E*O $ 1,117,597 T Combined GRT and PSC Assessment Rate U General Service Reduction to Rider 8 Target S/(1-T) $ 1,142,760 Notes Weighted Avg. Cost of Capital; Order No After Tax 1 Debt 1.96% 1.17% Preference 0.26% 0.26% Equity 5.01% 5.01% Calculated After -Tax ROR 6.44% 2 Gross Up Factor % 3 Rate of Return Grossed up for Tax 10.80% 4 Calculation of Gross Up Factor Maryland Statutory Tax Rate Federal Statutory Tax Rate Less: Benefit from State Tax Deduction for Federal Purposes Federal Tax Rate Inclusive of Benefit from State Tax Deduction for Federal Purposes Total Rate Inclusive of Benefit from State Tax Deduction for Federal Purposes Final Tax Gross-Up Rate a 8.25% b 35.00% c = (a * b) -2.89% d = (b + c) 32.11% e = (a + d) 40.36% f = (1 - e) % Storage Inventory CarryingCosts - Part 1

8 Attachment F Commodity Cash Working Capital Calculations A Cash Working Capital 1 $ 5,830,026 B After-tax ROR See Attachment E 6.44% C Income Tax Gross-Up Factor See Attachment E D Grossed-Up ROR See Attachment E 10.80% E Commodity Cash Working Capital Costs A*D $ 629,643 Reduction to Rider 8 Targets Calculation F Schedule D 2014 GCOSS Fuel CWC $ 220,514 G Schedule DH $ 3,280,215 H Total Residential F+G $ 3,500,729 I Schedule C 2014 GCOSS Fuel CWC $ 170,131 J Schedule CH $ 535,761 K Schedule CL $ 1,114,445 L Total General Service I+J+K $ 1,820,337 M Total Residential and General Service H+L $ 5,321,066 N Percent Allocated to Residential H/M 65.79% O Percent Allocated to General Service L/M 34.21% P Residential portion of Storage Inventory Carrying Costs E*N $ 414,242 Q Combined GRT and PSC Assessment Rate R Residential Reduction to Rider 8 Target P/(1-Q) $ 423,569 S General Service portion of Storage Inventory Carrying Costs E*O $ 215,401 T Combined GRT and PSC Assessment Rate U General Service Reduction to Rider 8 Target S/(1-T) $ 220,251 1 Calculation follows: 8.6 Lag Days (accepted in CN See DMV-8 Actual, page 1 of 9) $677,910 (Average Daily Gas Purchased for Resale Expense for 12 Months ended November $5,830,026 See DMV-8 Actual, page 1 of 9) Commodity CWC - Part 1

9 PART 2 Rider 12 - Gas Administrative Charge Adder Estimated Commodity Target Amount Nov 15 - Oct 16 Sales Volumes Nov 15 - Oct 16 (therms) GAC Adder Sep 16 - Oct 16 ($/therm) a b c=a/b Credit and Collections 1 $ 1,778, ,830, Billing 2 $ 1,682, ,830, Storage Inventory Carrying Costs 3 $ 2,606, ,830, Commodity CWC 4 $ 570, ,830, Gross Up Rates Uncollectible Expense % PSC Assessment % Notes 1 - See Attachment A. 2 - See Attachment B. 3 - See Attachment C. 4 - See Attachment D. 5 - See Part 1 Attachment B, Line Item F 6 - PSC Assessment as of this instant filing. The actual PSC Assessment rate in effect the month the MBR is filed will be used to gross up the Gas Commodity Price. Total GAC - Part 2

10 Credit and Collections ATTACHMENT A Credit and Collections Expense A Total Gas Revenue from End Users 1 CN 9406 Supp III.V(c) $ 625,953,961 B Gas Commodity Revenue Included in A CN 9406 Supp III.V(d) $ 227,076,859 C Percentage of Gas Commodity Revenue to Total Gas B / A 36.28% Revenue from End Users D CN 9406 Gas Credit and Collections Expense CN 9406 Gas allocation of total costs $ 5,530,942 E Estimated Gas Commodity Revenue Portion of Cost in D Above C x D $ 2,006,626 F Rider 12 - Gas Administrative Charge Credit and Collections Adder E $ 2,006,626 F1 Nov 14 - Oct 15 Credit and Collections Target 2 $ 2,186,410 G Nov 14 - Oct 15 Actual Sales Volumes - Firm (therms) 3 482,457,390 H Nov 14 - Oct 15 Credit and Collections GAC Adders ($/therm) 9/29/14 & 1/29/15 Filing I Nov 14 - Oct 15 Actual Credit and Collections 4 $ 2,460,533 J True-up for Nov 14 to Oct 15 volumes F1 - I $ (274,123) J1 True-up for Sep and Oct 14 volumes Att A-1 $ 45,922 K Nov 15 - Oct 16 Credit and Collections Target F + J + J1 $ 1,778,425 Notes 1 Excludes Other Gas Revenues and Off System Sales Volume (therms) Rate Target 2 Nov 2014 through February 2015 Target 251,891,650 $ $ 1,284,647 March 2015 Through October 2015 Target 176,816,260 $ $ 901,763 $ 2,186,410 3 Based on 10 months actual ended August 2015 and 2 months estimated (September & October 2015) Volume (therms) Rate Revenue 4 Nov 2014 through February 2015 Revenue 313,662, $ 1,599,677 March 2015 through October 2015 Revenue 168,795, $ 860,856 Credit and Collections - Part 2

11 FOR INFORMATIONAL PURPOSES ONLY NO CHANGES FROM SEPTEMBER 2015 FILING Baltimore Gas and Electric Company Credit and Collections September and October 2014 Volume True-Up Attachment A-1 Estimated Actual Credit & Difference Volume Volume Difference Collections Rate Estimate - Actual (therms) (therms) (therms) ($/therm) a b c = a - b d e = c x d Sep-14 11,638,900 9,664,200 1,974, $ 10,663 Oct-14 24,547,510 18,018,180 6,529, $ 35,258 $ 45,922 Note: Below are the amounts that will be used in next year's filing to true-up September and October 2014 estimates: Therms September ,824,200 October ,383,560 C C True Up - Part 2

12 FOR INFORMATIONAL PURPOSES ONLY NO CHANGES FROM SEPTEMBER 2015 FILING Baltimore Gas and Electric Company Billing Attachment B A Nov 15 - Oct 16 Estimated # of Bills 5,958,229 CN 8950 B Price per bill Stip & Agreement $ C Preliminary Estimated Nov 15 - Oct 16 Billing Target A x B $ 1,799,385 D Nov 14 - Oct 15 Billing Target (from previous filing) $ 1,644,887 E Actual Nov 14 - Oct 15 # of Bills 1 5,980,492 F Estimated Nov 14 - Oct 15 # of Bills (from previous filing) 5,853,063 G Difference E - F 127,429 CN 8950 H Price per bill Stip & Agreement $ I Adjustment to Nov 14 - Oct 15 Billing Target G x H $ 38,484 J Actual Nov 14 - Oct 15 Billing Target D + I $ 1,683,371 K Actual Sales Volumes Nov 14 - Oct ,457,390 L Nov 14 - Oct 15 Billing Adder Rate 14/15 year's Billing (Total GAC page) $ M Nov 13 - Oct 14 Actual Billing Revenue K x L $ 1,833,338 N Nov 14 - Oct 15 True-up J - M $ (149,968) O True-up for Sep and Oct 14 Volumes Att B-1 $ 32,315 P True-up for Sep and Oct 14 # of bills Att B-1 $ 1,203 Q Nov 15 - Oct 16 Adjusted Billing Target C + N + O + P $ 1,682,936 Note 1 Based on 10 months actual ended August 2015 and 2 months estimated (September & October 2015). Billing (a) - Part 2

13 FOR INFORMATIONAL PURPOSES ONLY NO CHANGES FROM SEPTEMBER 2015 FILING Baltimore Gas and Electric Company Billing September and October 2013 True-Up Attachment B-1 Commodity Volumes Commodity Adjusted Commodity Estimated Actual Difference Adder Billing Revenue (therms) (therms) (therms) ($/therm) a b c = a - b d e = c x d Sep-14 11,638,900 9,664,200 1,974, $ 7,504 Oct-14 24,547,510 18,018,180 6,529, $ 24,811 $ 32,315 Number of Bills Commodity Adjusted Billing Actual Estimated Difference Price Target Revenue $/bill f g h = f - g i j = h x i Sep , ,091 2, $ 638 Oct , ,722 1, $ 565 $ 1,203 Note: Below are the amounts that will be used in next year's filing to true-up September and October 2015 estimates: Bills Therms September ,806 9,824,200 October ,596 24,383,560 Biling (b) - Part 2

14 Storage Inventory Carrying Costs (SICC) Attachment C Storage Inventory Carrying Costs Calculations A 12 Month Target Amount 1 $ 3,697,062 B Actual Sales Volumes Nov 14 - Oct 15 (therms) 2 482,457,390 C Nov 14 - Oct 15 SICC Adder ($/therm) 9/29/14 & 1/29/15 Filing / D Actual Nov 14 - Oct 15 SICC Revenue 3 $ 4,151,526 E Storage Inventory Carrying Costs True-Up A - D $ (454,464) F Average Interstate Pipeline Storage Balance 13 Month Avg. - FERC Acct (Nov 2014 to Nov 2015) $ 27,750,400 G After-tax ROR CN % H Income Tax Gross-Up Factor See Part 1 Att E I Grossed-Up ROR G/H 10.80% J Storage Inventory Carrying Costs Portion for F above F x I $ 2,997,043 J1 True-Up for Sep and Oct 14 volumes Att C-1 $ 63,780 K Nov 15 - Oct 16 SICC Target Amount E + J + J1 $ 2,606,359 Notes 1 Nov 2014 through February 2015 Target 251,891,650 $ $ 2,141,079 March 2015 Through October 2015 Target 176,816,260 $ $ 1,555,983 $ 3,697,062 2 Based on 10 months actual ended August 2015 and 2 months estimated (September & October 2015) Volume (therms) Rate Revenue 3 Nov 2014 through February 2015 Revenue 313,662,080 $ $ 2,666,128 March 2015 Through October 2015 Revenue 168,795,310 $ $ 1,485,399 $ 4,151,526 Storage Inv Carrying Costs - Part 2

15 FOR INFORMATIONAL PURPOSES ONLY NO CHANGES FROM SEPTEMBER 2015 FILING Baltimore Gas and Electric Company Storage and Inventory Carrying Costs (SICC) September and October 2014 Volume True-Up Attachment C-1 Estimated Actual Storage & Inventory Difference Volume Volume Difference Carrying Cost Rate Estimate - Actual (therms) (therms) (therms) ($/therm) a b c = a - b d e = c x d Sep-14 11,638,900 9,664,200 1,974, $ 14,810 Oct-14 24,547,510 18,018,180 6,529, $ 48,970 $ 63,780 Note: Below are the amounts that will be used in next year's filing to true-up September and October 2015 estimates: Therms September ,824,200 October ,383,560 Storage Inv Carying Costs True Up - Part 2

16 Baltimore Gas & Electric Company Commodity Cash Working Capital (CCWC) Attachment D Commodity Cash Working Capital Calculations A 12 Month Target Amount 1 $ 557,320 B Actual Sales Volumes Nov 14 - Oct 15 (therms) 2 482,457,390 C Nov 14 - Oct 15 CCWC Adder ($/therm) 9/29/14 & 1/29/15 Filing / D Actual Nov 14 - Oct 15 CCWC Revenue 3 $ 627,195 E CCWC True-Up A - D $ (69,875) F Commodity Cash Working Capital Asset 4 $ 5,830,026 G After-tax ROR CN % H Income Tax Gross-Up Factor 1/29/15 Filing I Grossed-Up ROR G/H 10.80% J Commodity Cash Working Capital Portion for F above I x F $ 629,643 J1 True-up for Sep and Oct 14 volumes Att D-1 $ 11,055 K Nov 15 - Oct 16 CCWC Target Amount E + J + J1 $ 570,823 Notes Volume (therms) Rate Target 1 Nov 2014 through February 2015 Target 251,891, $ 327,459 March 2015 Through October 2015 Target 176,816, $ 229,861 $ 557,320 2 Based on 10 months actuals ended August 2015 and 2 months estimated (September and October 2015). Volume (therms) Rate Revenue 3 Nov 2014 through February 2015 Revenue 313,662,080 $ $ 407,761 March 2015 Through October 2015 Revenue 168,795,310 $ $ 219,434 $ 627,195 4 Calculation follows: 8.6 Lag Days (accepted in CN See DMV-8 Actual, page 1 of 9) $ 677,910 (Average Daily Gas Purchased for Resale Expense for 12 Months ended November $ 5,830,026 See DMV-8 Actual, page 1 of 9) Commodity CWC - Part 2

17 FOR INFORMATIONAL PURPOSES ONLY NO CHANGES FROM SEPTEMBER 2015 FILING Baltimore Gas and Electric Company Commodity Cash Working Capital (CCWC) September and October 2013 Volume True-Up Attachment D-1 Estimated Actual Commodity Difference Volume Volume Difference CWC Rate Estimate - Actual (therms) (therms) (therms) ($/therm) a b c = a - b d e = c x d Sep-14 11,638,900 9,664,200 1,974, $ 2,567 Oct-14 24,547,510 18,018,180 6,529, $ 8,488 $ 11,055 Note: Below are the amounts that will be used in next year's filing to true-up September and October 2015 estimates: Therms September ,824,200 October ,383,560 Commodity CWC True Up - Part 2