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<B><FONT SIZE=6 COLOR="#0000ff"><P ALIGN="CENTER">UNITED STATES</FONT><FONT SIZE=2 COLOR="#0000ff"><BR>
</FONT><FONT SIZE=2><BR>
<BR>
</FONT><FONT SIZE=4 COLOR="#0000ff">SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D. C.   20549<BR>
</FONT><FONT SIZE=4><BR>
<BR>
</B></FONT></TD>
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<P ALIGN="CENTER">Form 8-K<BR>
<BR>
</TD>
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<FONT SIZE=2><P ALIGN="CENTER">CURRENT REPORT<BR>
<BR>
<BR>
</FONT></TD>
</TR>
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<FONT SIZE=2><P ALIGN="CENTER">PURSUANT TO SECTION 13 or 15(d) OF THE<BR>
SECURITIES EXCHANGE ACT OF 1934<BR>
<BR>
<BR>
</FONT></TD>
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<FONT SIZE=2><P>Date of Report (Date of earliest event reported)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=2><P ALIGN="CENTER">December 16, 2003<BR>
<BR>
<BR>
<BR>
</U></FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ATLANTIC CITY ELECTRIC TRANSITION FUNDING LLC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <BR>
</U>(Exact name of registrant as specified in its charter)<BR>
<BR>
<BR>
</FONT></TD>
</TR>
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<U><FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(State or other jurisdiction<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of incorporation)</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP">
<U><FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333-59550&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(Commission File &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number)</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51-0408521&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(I.R.S. Employer <BR>
Identification No.)<BR>
<BR>
<BR>
</FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER">P.O. Box 15597, Wilmington, Delaware<BR>
</U>(Address of principal executive offices</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=2><P ALIGN="CENTER">&nbsp;&nbsp;19850-5597&nbsp;&nbsp;&nbsp;<BR>
</U>(Zip Code)<BR>
<BR>
<BR>
</FONT></TD>
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<FONT SIZE=2><P>Registrant's telephone number, including area code</FONT></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=2>
<U><FONT SIZE=2><P ALIGN="CENTER">(302) 429-3902<BR>
<BR>
<BR>
</U></FONT></TD>
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<U><FONT SIZE=2><P ALIGN="CENTER"><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>(Former Name or Former Address, if Changed Since Last Report)</FONT></TD>
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<BR><FONT COLOR="#0000ff"><HR><P></P></TD></TR>



<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6>
<FONT SIZE=2><P ALIGN="RIGHT">ATLANTIC CITY ELECTRIC &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
TRANSITION FUNDING LLC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Form 8-K&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</FONT></TD>
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<FONT SIZE=2><P>Item 5.</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6 HEIGHT=15>
<U><FONT SIZE=2><P>Other Events and Regulation FD Disclosure</U>.</FONT></TD>
</TR>
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<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6 HEIGHT=1>
<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant registered transition bonds under the Securities Act of 1933 by a Registration Statement on Form S-3 (Registration File No. 333-59550) (the "Registration Statement"). The Securities and Exchange Commission declared this Registration Statement effective at 5:30 p.m. on November 18, 2002 (the "Effective Date"). $152,000,000 principal amount of transition bonds are being offered pursuant to a Prospectus and related Prospectus Supplement (together, the "Prospectus"), which will be filed with the Securities and Exchange Commission pursuant to Rule 424 under the Securities Act of 1933.<BR>
<BR>
On December 11, 2003, the Company filed a Current Report on Form 8-K disclosing the use of a structural and collateral term sheet (the "First Version Term Sheet"), which was provided after the Effective Date, but prior to the availability of the Prospectus, to prospective investors in connection with a proposed $152,000,000 offering of transition bonds pursuant to the Registration Statement. This subsequent Current Report on Form 8-K discloses a revised term sheet and computational materials (the "Revised Term Sheet") reflecting the offering of transition bonds currently proposed, using a three-class structure as opposed to the single-class structure contemplated in the First Version Term Sheet. Like the First Version Term Sheet, this Revised Term Sheet has been provided after the Effective Date, but prior to the availability of the Prospectus, to prospective investors in connection with a proposed $152,000,000 offering of transition bonds pursuant to the Registration Statement. The Revised Term Sheet is filed as Exhibit 99 hereto.<BR>
<BR>
The information contained in the Revised Term Sheet is preliminary and may be superseded by the information contained in the final Prospectus and related Prospectus Supplement for the transition bonds and by any other information subsequently filed with the Securities and Exchange Commission.</FONT></TD>
</TR>
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<FONT SIZE=2><P>Item 7.</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6>
<U><FONT SIZE=2><P>Financial Statements and Exhibits</U>.</FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P>(c) Exhibits</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP" COLSPAN=4>&nbsp;</TD>
<TD WIDTH="28%" VALIGN="TOP">&nbsp;</TD>
</TR>
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<TD WIDTH="15%" VALIGN="TOP">
<U><FONT SIZE=2><P>Exhibit No.</U></FONT></TD>
<TD WIDTH="43%" VALIGN="TOP" COLSPAN=4>
<U><FONT SIZE=2><P>Description of Exhibit</U></FONT></TD>
<TD WIDTH="28%" VALIGN="TOP">
<U><FONT SIZE=2><P>Reference<BR>
</U></FONT></TD>
</TR>
<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=2><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99</FONT></TD>
<TD WIDTH="43%" VALIGN="TOP" COLSPAN=4>
<FONT SIZE=2><P>Revised Term Sheet for a proposed $152,000,000 offering of transition bonds pursuant to the Registration Statement.</FONT></TD>
<TD WIDTH="28%" VALIGN="TOP">
<FONT SIZE=2><P>Filed herewith.</FONT></TD>
</TR>
<TR><TD VALIGN="BOTTOM" COLSPAN=7 HEIGHT=1>
<FONT SIZE=2><P ALIGN="CENTER"><BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
-2-</FONT></TD>
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<BR><FONT COLOR="#0000ff"><HR><P></P></TD></TR>



<TR><TD WIDTH="13%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="87%" VALIGN="TOP" COLSPAN=6>
<FONT SIZE=2><P ALIGN="RIGHT">ATLANTIC CITY ELECTRIC &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
TRANSITION FUNDING LLC&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
Form 8-K&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
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<U><FONT SIZE=2><P ALIGN="CENTER">Signatures</P>
</U><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. </FONT></TD>
</TR>
<TR><TD WIDTH="40%" VALIGN="TOP" COLSPAN=3>
<U><FONT SIZE=2>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR><BR><BR><BR><BR>
<P>December 18, 2003<BR>
</U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DATE<BR>
</FONT></TD>
<TD WIDTH="60%" VALIGN="TOP" COLSPAN=4>
<FONT SIZE=2><P>ATLANTIC CITY ELECTRIC TRANSITION FUNDING LLC<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant)</P>

<P>&nbsp;</P>
<P>By:&nbsp;&nbsp;&nbsp;&nbsp;<U>/s/ James P. Lavin&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;James P. Lavin<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer and Manager</P>
</FONT></TD>
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<FONT SIZE=2><P ALIGN="CENTER">-3-</FONT></TD>
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{"company-data": {"conformed-name": "ATLANTIC CITY ELECTRIC TRANSITION FUNDING LLC", "cik": "0001138120", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-59558", "film-number": "031061804"}, "business-address": {"street1": "800 KING STREET", "city": "WILMINGTON", "state": "DE", "zip": "19899", "phone": "3024293114"}, "mail-address": {"street1": "800 KING STREET", "city": "WILMINGTON", "state": "DE", "zip": "19899"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.   20549
Form 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
December 16, 2003
ATLANTIC CITY ELECTRIC TRANSITION FUNDING LLC
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
333-59550
(Commission File      Number)
51-0408521
(I.R.S. Employer
Identification No.)
P.O. Box 15597, Wilmington, Delaware
(Address of principal executive offices
19850-5597
(Zip Code)
Registrant's telephone number, including area code
(302) 429-3902
(Former Name or Former Address, if Changed Since Last Report)
ATLANTIC CITY ELECTRIC
TRANSITION FUNDING LLC
Form 8-K
Item 5.
Other Events and Regulation FD Disclosure
.
The Registrant registered transition bonds under the Securities Act of 1933 by a Registration Statement on Form S-3 (Registration File No. 333-59550) (the "Registration Statement"). The Securities and Exchange Commission declared this Registration Statement effective at 5:30 p.m. on November 18, 2002 (the "Effective Date"). $152,000,000 principal amount of transition bonds are being offered pursuant to a Prospectus and related Prospectus Supplement (together, the "Prospectus"), which will be filed with the Securities and Exchange Commission pursuant to Rule 424 under the Securities Act of 1933.
On December 11, 2003, the Company filed a Current Report on Form 8-K disclosing the use of a structural and collateral term sheet (the "First Version Term Sheet"), which was provided after the Effective Date, but prior to the availability of the Prospectus, to prospective investors in connection with a proposed $152,000,000 offering of transition bonds pursuant to the Registration Statement. This subsequent Current Report on Form 8-K discloses a revised term sheet and computational materials (the "Revised Term Sheet") reflecting the offering of transition bonds currently proposed, using a three-class structure as opposed to the single-class structure contemplated in the First Version Term Sheet. Like the First Version Term Sheet, this Revised Term Sheet has been provided after the Effective Date, but prior to the availability of the Prospectus, to prospective investors in connection with a proposed $152,000,000 offering of transition bonds pursuant to the Registration Statement. The Revised Term Sheet is filed as Exhibit 99 hereto.
The information contained in the Revised Term Sheet is preliminary and may be superseded by the information contained in the final Prospectus and related Prospectus Supplement for the transition bonds and by any other information subsequently filed with the Securities and Exchange Commission.
Item 7.
Financial Statements and Exhibits
.
(c) Exhibits
Exhibit No.
Description of Exhibit
Reference
99
Revised Term Sheet for a proposed $152,000,000 offering of transition bonds pursuant to the Registration Statement.
Filed herewith.
-2-
ATLANTIC CITY ELECTRIC
TRANSITION FUNDING LLC
Form 8-K
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
December 18, 2003
DATE
ATLANTIC CITY ELECTRIC TRANSITION FUNDING LLC
(Registrant)
By:
/s/ James P. Lavin
James P. Lavin
Chief Executive Officer and Manager
-3-