Understanding Our Form 10-K Part I :: Part II Part I: Our Businesses Part I of our Form 10-K provides details about our businesses: Our merchant energy business. Our regulated utility - Baltimore Gas and Electric Company. Our other nonregulated businesses. Also included is information about environmental matters, employees, properties, and executive officers. Here's Where You Look in Part l Highlights of What You'll Find Page Item Section Company description and brief background. We have a merchant energy business and a regulated utility. Operating segment details. Our reportable operating segments are merchant energy, regulated electric, and regulated gas. 1-2 Business Overview 3-9   Merchant Energy Business Business description. We combine electric generating assets with the marketing and risk management of energy. Discussion of fuel sources we use to generate electricity. We have a diversified portfolio of fuel sources that we use to generate electricity. Discussion of our competition. Companies - of various sizes and levels of experience and financial and human resources. Merchant energy operating statistics for the last five years. Our revenues and megawatt hours generated. 9-13   Baltimore Gas and Electric Company Business description broken down between electric and gas. Our electric service territory covers 2,300 square miles, and our gas service territory covers 800 square miles. Electric and gas operating statistics for the last five years. Revenues by customer type, sales to our customers, and the number of our customers. 13   Other Nonregulated Businesses Descriptions of our other nonregulated energy businesses. Primarily heating and cooling system services we provide to residential, commercial, industrial and municipal customers. 13-16   Environmental Matters Discussion of the environmental matters affecting the company. We are subject to regulations concerning air quality, water quality, and disposal of hazardous substances. 16   Employees Number of employees. We had approximately 8,650 employees at year end 2003. 17-19 Properties   Generating plant location, ownership and size details. We own more than 12,000 megawatts of generating capacity located strategically throughout the United States. Offices and facilities we own and lease. Our corporate offices are in Baltimore, and we have plants and marketing offices throughout North America. 19-20 Executive Officers of the Registrant   Executive officers' names, ages, current positions and recent experience. Our corporate officers have a diverse mix of energy, financial and other experience in competitive and regulated markets.