Exelon Corporation - EXC STOCK NEWS

Delmarva Power, a unit of Exelon (EXC), announced its winter preparedness initiatives, including a $2.7 billion investment in infrastructure improvements over the next five years. The company is focusing on grid reliability enhancements, equipment upgrades, tree trimming, and smart technology integration to handle severe weather and increasing customer demand.

The company is implementing an Assistance Finder tool to help customers access various support programs, including financial assistance and energy efficiency options. Delmarva Power serves approximately 561,500 electric customers in Delaware and Maryland and 140,000 natural gas customers in northern Delaware.

Delmarva Power has released essential holiday lighting safety guidelines for the 2024 festive season. The advisory emphasizes checking decorative lights for damage, using energy-efficient products, and following manufacturer guidelines for string connections. Key recommendations include: limiting incandescent light connections to three strings, maintaining a 10-foot distance from power lines when decorating, and ensuring outdoor-specific lights are used for exterior decorations. The guidelines also stress keeping decorations 3 feet away from heating equipment and using battery-operated candles when possible.

ComEd and Ameresco have inaugurated their 160th community solar project in northern Illinois, located at a former landfill in Belvidere. The project features two solar arrays spanning 34 acres with over 9,600 solar modules, generating 3.5 megawatts (MW) of power. Boone County is subscribing to 36% of the generated energy for its public facilities, while various commercial customers make up the remaining subscribers.

The project allows subscribers to earn credits on their electric bills and potentially reduce electricity costs by up to 10% annually. As part of Illinois' Climate and Equitable Jobs Act (CEJA), the project supports the state's goal of reaching 40% renewable energy by 2030 and 50% by 2040. The installation is particularly significant as Belvidere is an Equity Investment Eligible Community (EIEC), promoting workforce inclusion from equity eligible individuals.

ComEd has commissioned a new battery energy storage system in Rockford as part of a $6.5 million solar and battery project, partially funded by the DOE ENERGISE program. The project combines the battery system with existing solar panels at Prairie Street Brewing Company to research distributed energy resource management systems.

The initiative, supported by $3.2 million in DOE grants and $3.3 million from ComEd and partners, aims to test renewable smoothing techniques and explore the scalability of solar and battery solutions. The battery commissioning is scheduled for December 2024, with testing running through January 2025.

ComEd has already interconnected more than 1 gigawatt of distributed energy resource capacity, including 57,780 residential rooftop solar systems, 1,582 commercial solar systems, and 150 community solar projects. This project supports Illinois' goal of 100% clean energy by 2050.

ComEd, a unit of Exelon (NASDAQ: EXC), is offering energy-saving tips through their Energy Doctors program to help customers manage energy costs during cold weather months. The initiative provides free energy assessments, personalized recommendations, and access to rebates and discounts on energy-efficient appliances.

Since 2008, ComEd's Energy Efficiency Program has helped customers save over $9 billion on energy bills and reduced electricity consumption by more than 82 million megawatt-hours, preventing nearly 60 billion pounds of carbon emissions. The company recently received a 2024 ReliabilityOne® award for Outstanding Reliability Performance in the Midwest Metropolitan Service Area.

ComEd and the Metropolitan Mayors Caucus announced the third cohort of 20 communities joining the EV Readiness Program, an initiative helping local governments prepare for increasing electric vehicle (EV) demand. The program provides technical assistance for streamlining policies and implementing best practices for regional transportation electrification.

EVs in Illinois have more than doubled from 53,000 in 2022 to over 119,000 today, with the majority in northern Illinois. The program has reached 41 communities and continues expanding through ComEd's investments in beneficial electrification. ComEd has made nearly $90 million available in funding for EV projects, resulting in over 3,000 charging ports and 150 fleet vehicles across 300 unique zip codes.

Exelon (Nasdaq: EXC) announced leadership changes effective January 1, with Gayle Littleton stepping down as Executive Vice President, Chief Legal Officer and Corporate Secretary. Colette Honorable, currently Executive VP of Public Policy and Chief External Affairs Officer, will assume the role of Chief Legal Officer and Corporate Secretary while maintaining her current responsibilities for federal policy, regulatory affairs, and corporate giving.

Honorable, who joined Exelon in 2023, brings extensive experience including serving as a FERC Commissioner and chairman of the Arkansas Public Service Commission. She previously was a partner at Reed Smith LLP, where she provided strategic counsel to energy companies on various matters including climate change and environmental justice.

Delmarva Power's Gas Operations team continued its 30-year Thanksgiving tradition of community support through fundraising initiatives. The team organized events like pie-throwing contests and dunk tanks to raise funds for holiday meal donations. Their efforts resulted in the distribution of 360 turkeys and 148 Cornish hens to 14 different agencies, including senior centers, churches, and community centers, ensuring timely delivery before Thanksgiving.

Delmarva Power and Delaware Nature Society have awarded $40,000 in Sustainable Community Grants to five local organizations for environmental and community development projects. The grants support initiatives focusing on reforestation, sustainable transportation, affordable housing, and composting programs across Delaware and Maryland. Recipients include Delaware Wild Lands ($10,000), Plastic Free Delaware ($5,000), Milford Housing Development ($10,000), Urban Bike Project of Wilmington ($10,000), and Whitehall Community Garden Association ($5,000). This initiative is part of Delmarva Power's broader commitment to supporting clean energy goals and reducing greenhouse gas emissions, aligning with parent company Exelon's Path to Clean goal of 50% emissions reduction by 2030.