Exelon Joins Electric Highway Coalition; Encourages EV Adoption

Rhea-AI Summary

Exelon has joined the Electric Highway Coalition, a group of 14 U.S. utilities creating a network of rapid electric vehicle charging stations across major highways. Exelon's six utility companies will help expand access to fast charging, alleviating range anxiety for electric vehicle users. The coalition aims to place stations less than 100 miles apart, with at least two universal chargers per site. The initiative supports the anticipated growth of electric vehicles, with an estimated 18 million expected on U.S. roads by 2030. Exelon also aims to electrify half its utility vehicle fleet by 2030, promoting sustainable energy solutions.

Positive

• Joining the Electric Highway Coalition to enhance EV charging infrastructure.
• Plans to install over 7,000 charging ports across key regions.
• Commitment to electrify half of its utility vehicle fleet by 2030.

Negative

• None.

Exelon, a Fortune 100 energy company, announced today a commitment to join the Electric Highway Coalition, a partnership among 14 U.S. utilities to create a seamless network of rapid electric vehicle charging stations connecting major highway systems, stretching from the Atlantic Coast through the Midwest, South and into the Gulf and Central Plains regions.

Exelon’s six utility companies – Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco – will join the 13 other coalition utilities that have coordinated to ensure drivers have access to efficient, fast charging stations that expand convenient options for long distance electric vehicle travel.

“Protecting our future means ensuring electric vehicles are an affordable, accessible, and reliable transportation option for customers in the communities we serve,” said Calvin Butler, CEO of Exelon Utilities. “Our customers and communities want cleaner air and action on climate change – just one reason why we want to make sure rapid charging is as easily available along major highways as traditional gas stations. Our partnership with the Electric Highway Coalition will help alleviate range anxiety by creating convenient, rapid charging stations that will give travelers in our communities the confidence to know they can rely on electric vehicles for long distance travel wherever they need to go.”

The members of the EHC have agreed to work together to ensure efficient and effective fast charging deployment plans that enable long distance EV travel, avoid duplication and complement existing corridor fast charging sites. Sites initially will be located less than 100 miles apart on major roadways. Additionally, each site will have at least two charging stations with universal vehicle compatibility and at least 100 kilowatts of output per station. This will enable drivers to get back on the road in 20-30 minutes. Each member company will determine its own execution methods, specific pricing models and charging equipment providers for their service territory.

The Edison Electric Institute estimates 18 million EVs will be on U.S. roads by 2030, and the progress made by the Electric Highway Coalition demonstrates to customers that industry leaders are united in a commitment to ensuring accessibility and convenience for rapid charging stations across an expanded network of major highways.

Exelon has already committed to electrifying half of its utility vehicle fleet by 2030 and will continue to find new ways to partner with leaders across the industry to provide equitable, safe and sustainable energy and transportation solutions for customers.

In addition, Exelon’s utilities continue to actively work with stakeholders to promote the expansion of EV infrastructure and remove barriers to adoption. Through approved programs at each of its utilities, Exelon will enable the installation of more than 7,000 residential, commercial and/or utility-owned charging ports across Maryland, Washington, D.C., Delaware and New Jersey.

The installations will help jurisdictions achieve climate and zero-emission vehicle goals, improve air quality in their regions and prepare for the economic opportunities connected to the growing EV market.

About Exelon

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210726005480/en/

FAQ

What is Exelon's role in the Electric Highway Coalition?

Exelon is joining the Electric Highway Coalition to help create a seamless network of rapid electric vehicle charging stations across major highways.

How many charging stations will Exelon install?

Exelon plans to install more than 7,000 residential, commercial, and utility-owned charging ports across Maryland, D.C., Delaware, and New Jersey.

What is the expected number of EVs in the U.S. by 2030?

The Edison Electric Institute estimates that there will be 18 million electric vehicles on U.S. roads by 2030.

What is Exelon's commitment for its utility vehicle fleet?

Exelon aims to electrify half of its utility vehicle fleet by 2030.

How far apart will the EV charging stations be?

The charging stations will be located less than 100 miles apart on major roadways.