Welcome to our dedicated page for Exelon Corporation news (Ticker: EXC), a resource for investors and traders seeking the latest updates and insights on Exelon Corporation stock.
Exelon Corporation (NASDAQ: EXC) is a leading competitive energy provider in the United States, noted for its substantial contributions to the power generation sector. Headquartered in Chicago, Illinois, Exelon operates across 48 states, the District of Columbia, and Canada. The company’s diverse portfolio includes over 32,700 megawatts of owned capacity, making it one of the largest power generators in the U.S.
Exelon is dedicated to delivering clean, reliable, and affordable energy to more than 10 million customers through its six regulated utilities: Atlantic City Electric, Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power, PECO, and Pepco. These utilities provide electric and natural gas services to customers in Illinois, Pennsylvania, Maryland, New Jersey, Delaware, and Washington, D.C.
The company’s business operations are divided into two main segments: power generation and utility services. Exelon’s Constellation business unit supplies energy products to around 2 million residential, public sector, and business customers. Constellation Energy, a wholly owned subsidiary, focuses on delivering clean, efficient energy solutions and innovative products.
Exelon has been at the forefront of energy efficiency and sustainability initiatives. For instance, Delmarva Power, one of Exelon’s subsidiaries, recently received the 2024 ENERGY STAR® Partner of the Year: Sustained Excellence Award for its outstanding energy efficiency programs that have saved over one million megawatt-hours in energy and more than $1.1 billion on customer bills since 2009. These programs are a testament to Exelon's commitment to reducing greenhouse gas emissions and promoting environmental stewardship.
In addition to its sustainability efforts, Exelon fosters strategic partnerships to enhance grid reliability and energy management. A notable partnership includes BGE's collaboration with Resideo Technologies to expand the Connected Rewards℠ program. This initiative aims to balance the grid by reducing electricity demand during peak periods, providing financial incentives to customers who participate.
With 2015 revenues reported at approximately $34.5 billion, Exelon continues to be a financially robust organization. The company’s strategic focus on innovation, best-in-class performance, and community leadership helps drive progress for its customers and the broader community.
For the latest updates and news about Exelon Corporation, follow them on Twitter @Exelon or visit their website.
ComEd celebrated its newest Power Up Academy graduating class and announced the program's accreditation through City Colleges of Chicago. The 14-week career training program now offers participants up to 13 college credit hours, equivalent to a semester's coursework. The latest class of 9 graduates reflects diversity with 90% people of color and 80% female representation.
The academy, launched last year in partnership with Revolution Workshop and local engineering firms, removes barriers to engineering careers by eliminating the upfront college degree requirement. The program boasts an 80% job placement rate, with graduates joining ComEd or sponsor companies. Participants gain industry knowledge, project management skills, and AutoCAD proficiency, preparing them for the growing clean energy sector that could bring 150,000 jobs to Illinois by 2050.
ComEd has received two prestigious 2024 ReliabilityOne® awards from PA Consulting: Outstanding Reliability Performance in the Midwest Metropolitan Service Area and Outstanding Climate Action Leader. The company has improved overall reliability by more than 70% since 2012, helping customers avoid 21.7 million interruptions and save $3.8 billion in outage-related costs.
The utility is advancing clean energy initiatives with over 1,120 MW of distributed energy resources currently interconnected, expecting to reach 1,900 MW by 2025. ComEd supports Illinois' goal of 1 million electric vehicles by 2030, with over 116,000 EVs currently registered in the state. These achievements align with Illinois' Climate and Equitable Jobs Act (CEJA) goals for a cleaner energy future.
Delmarva Power hosted a Careers in Energy Week Expo attended by over 200 middle and high school students from New Castle County. Students from various schools participated in interactive exhibits featuring a Virtual Reality Module, Electric Operations, Gas Operations, and Environmental Management. The event, part of an industry-wide initiative, aimed to showcase career opportunities in the energy sector and inspire future energy professionals through hands-on experiences.
ComEd has enhanced its hosting capacity map for solar developers, now providing monthly updates with near real-time data. The company received 2,250 new interconnection applications in October, marking the seventh consecutive month with over 2,000 applications. The total for 2023 reached 21,952 applications, an all-time high. ComEd completed 1,976 Distributed Energy Resource systems in October, adding 42 megawatts of generation capacity. Currently, there are approximately 1,160 MW of DER connected to ComEd's system, with projections to reach 2,700 MW by 2030. The company has paid over $48 million in DG rebates this year and expects to pay more than $60 million in 2024.
ComEd, a unit of Exelon (NASDAQ: EXC), received two prestigious Leaders of the Pack awards from the American Council for an Energy-Efficient Economy (ACEEE) for its energy efficiency programs. The recognized programs include Home Energy Savings (HES) and Strategic Energy Management (SEM). Since 2008, ComEd's Energy Efficiency Program has helped customers save over $9 billion in energy bills and 82 million net megawatt-hours of electricity. In 2023, HES helped customers save 10 gigawatt hours of electricity and 1.5 million therms of gas, while SEM enabled 57 industrial facilities to save nearly 30 million kilowatt-hours of electricity.
Delmarva Power and The Cal Ripken, Sr. Foundation have opened a new STEM Center at Academia Antonia Alonso Charter School in Newark, Delaware. The center features advanced technology for coding and robotics, providing students with hands-on learning experiences. The initiative is part of Delmarva Power and The Exelon Foundation's broader mission to develop future innovators. La Academia, a KN-8th Grade charter school focusing on bilingual education, also received donations of school supplies, backpacks, and uniforms. The project aims to prepare students for future careers in the utility industry through practical STEM education.
Delmarva Power warns customers about phantom energy - the power consumed by devices when they appear off but continue drawing electricity. Common sources include smartphone chargers, computers, kitchen appliances, and gaming consoles. To combat this hidden energy drain, the company recommends using power strips with on/off switches, unplugging fully charged devices, switching to LED bulbs that use 75% less energy, and utilizing online energy management tools through My Account. Maryland customers can access Zoe, the Good Energy Guide, while both Delaware and Maryland customers can find energy-saving tips at delmarva.com/WaysToSave.
Exelon (EXC) reported strong Q3 2024 financial results with GAAP net income of $0.70 per share and adjusted operating earnings of $0.71 per share, up from $0.67 in Q3 2023. The company reaffirmed its full-year 2024 adjusted operating earnings guidance of $2.40-$2.50 per share and maintained its 5-7% compound annual growth target through 2027. All utilities achieved top quartile reliability performance, with ComEd and Pepco Holdings in the top decile. The company is investing $34.5 billion in energy infrastructure and declared a quarterly dividend of $0.38 per share.
Exelon (Nasdaq: EXC) has declared a regular quarterly dividend of $0.38 per share, payable on December 13, 2024, to shareholders of record as of November 11, 2024. As the nation's largest utility company and a Fortune 200 member, Exelon serves over 10.5 million customers through six regulated transmission and distribution utilities: Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power & Light, PECO Energy Company, and Potomac Electric Power Company.
ComEd has expanded its fleet EV rebate program to include certified pre-owned and repowered battery electric vehicles for business and public sector customers. The Pre-Owned Electric Fleet Vehicle Rebate offers between $5,000-$180,000 depending on vehicle class and customer location, with higher amounts for low-income or equity-investment eligible communities. The program aims to accelerate EV adoption in northern Illinois, supporting the state's goal of 1 million EVs by 2030. Currently, over 116,000 EVs are registered in Illinois. The initiative is part of a $90 million rebate program launched earlier this year, with more funds available in 2025.
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