ComEd and PECO recognized among nation's top utilities for economic development

Rhea-AI Summary

Exelon plans to invest $29 billion in its energy grid from 2022 to 2025 to enhance reliability and resilience. Its subsidiaries, ComEd and PECO, received recognition from Site Selection magazine as top U.S. utilities for economic development, contributing $3 billion and $3.1 billion respectively to local investments and creating 4,700 and 4,500 jobs. These investments support infrastructure improvements, including substations and enhancements for sectors like data centers and life sciences.

Positive

• Exelon to invest $29 billion in energy grid, improving reliability.
• ComEd and PECO recognized as top utilities for economic development.
• ComEd commits $3 billion and 4,700 jobs creation in Illinois.
• PECO plans $3.1 billion investment and 4,500 jobs in Pennsylvania.

Negative

• None.

Exelon will invest $29 billion in the energy grid from 2022 through 2025 to improve reliability and resilience, harden system against increasingly severe weather

CHICAGO--(BUSINESS WIRE)-- Exelon (Nasdaq: EXC) energy delivery companies ComEd and PECO have been named to Site Selection magazine's 2022 list of Top U.S. Utilities in Economic Development, exemplifying Exelon's companywide commitment to driving investment, new business and job growth in the communities it serves.

“We invest billions of dollars into our infrastructure to ensure our customers have access to safe, reliable and affordable energy, which is critical as we lead the energy transformation and ready the grid for electrification,” said Calvin G. Butler Jr., president and chief operating officer of Exelon. “We help power the economic health and well-being of our communities by making it easier for new and expanding businesses to connect to a more sustainable, reliable and resilient grid, spurring job creation and economic growth.”

Site Selection is a national trade publication for corporate executives, site location consultants and real estate professionals who are responsible for choosing business and industry locations.

The magazine recognized Chicago-based ComEd for the ninth year, highlighting its success in launching 16 new commercial projects, with commitments to invest $3 billion locally and create 4,700 new jobs in northern Illinois. ComEd’s infrastructure investments include the construction of three new substations, which are helping to support large power-requirement projects like data centers, indoor agriculture farms, e-commerce and manufacturing-related industries.

PECO was recognized for the sixth year for its leading role in supporting economic growth and job creation across southeastern Pennsylvania, with commitments to invest $3.1 billion and create nearly 4,500 jobs. PECO’s infrastructure investments include electric distribution capacity enhancements to support the region’s growing life sciences industry, evolving network of warehouse/distribution centers, rising data center sector and many multi-family developmental projects.

Although ComEd and PECO were formally recognized by Site Selection, each of Exelon’s energy delivery companies supports major economic projects within its service territories to spur innovation and create jobs for those living in the region. Some highlights include:

• Atlantic City Electric is helping implement New Jersey's offshore wind goal to deploy 11,000 megawatts of offshore wind by 2040 by working with offshore wind developers to facilitate interconnection to the regional transmission system. ACE also is performing work to expand the local energy grid to support the new Wind Port in Salem County and the Turbine Manufacturing Facility at Paulsboro.
• BGE became the first utility in Maryland to successfully complete the interconnection of renewable natural gas (RNG) through its gas distribution system in support of the newly constructed $1.6 million RNG plant, owned and operated by Bioenergy Devco.
• Delmarva Power is investing in its infrastructure to support construction of a new state-of-the-art, 1.7 million square-foot pharmaceutical manufacturing facility in New Castle County, Del., where it will create up to 1,200 jobs.
• Pepco is supporting broad transportation electrification efforts across the District of Columbia and Maryland, including supporting local energy grid work to help the largest school district in Maryland, Montgomery County Public Schools, transition to all electric school buses. This is the single largest school bus electrification project in the United States.

More information about Exelon’s broader community investments, including local workforce development training programs, community and educational grants and employee volunteerism, is available at exeloncorp.com.

About Exelon

Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest energy delivery company, serving more than 10 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 18,000 Exelon employees dedicate their time and expertise to powering a cleaner and brighter future for our customers and communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on Twitter @Exelon.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221117005877/en/

Liz Keating

Corporate Communications

elizabeth.keating@exeloncorp.com

312-394-7417 Exelon Media Hotline

Source: Exelon

FAQ

What is Exelon's investment plan for the energy grid from 2022 to 2025?

Exelon plans to invest $29 billion in its energy grid from 2022 through 2025.

Which companies under Exelon were recognized for economic development in 2022?

ComEd and PECO were recognized by Site Selection magazine for economic development.

How much is ComEd investing in local projects?

ComEd is committing $3 billion to local projects and aims to create 4,700 new jobs.

What investment is PECO making in Pennsylvania?

PECO plans to invest $3.1 billion and create nearly 4,500 jobs in southeastern Pennsylvania.

What sectors are benefiting from Exelon's infrastructure investments?

Exelon's investments support sectors including data centers, life sciences, e-commerce, and manufacturing.