Exelon Joins EPRI Climate READi Initiative to Help Lead Multi-Year Climate Resilience Effort

Rhea-AI Summary

Exelon Corporation (Nasdaq: EXC) has joined Climate READi, a three-year initiative by the Electric Power Research Institute (EPRI) focused on enhancing energy system climate resilience amid increasing extreme weather events. This collaborative effort seeks to involve global energy companies and scientists in developing resilient energy systems. Exelon aims to enhance grid reliability and has committed to reducing operational emissions by 50% by 2030 and achieving net-zero by 2050. The company is also investing $20 million over 10 years in clean energy transition technologies.

Positive

• Exelon is one of 13 anchor companies joining Climate READi, emphasizing its commitment to climate resilience.
• Plans to cut operational emissions by 50% by 2030 and achieve net-zero emissions by 2050.
• Investment of $20 million over 10 years in clean energy technologies to improve grid resilience.

Negative

• None.

CHICAGO--(BUSINESS WIRE)-- Exelon Corporation (Nasdaq: EXC) today announced it has joined Climate READi, a three-year initiative launched by the Electric Power Research Institute (EPRI), aimed at addressing energy system climate resilience and adaptation as extreme weather events continue to increase.

Climate READi will enable global energy companies, climate scientists, regulators, and other stakeholders to proactively analyze and apply climate data, allowing for the planning, design and operation of resilient energy systems of the future. EPRI’s collaborative model will convene the global thought leaders and scientific researchers necessary to build an informed and consistent approach. Exelon is one of 13 anchor companies who have joined the initiative.

“Exelon’s utilities have a track record of exceptionally strong reliability and our investments create a more resilient grid that is better prepared to handle the effects of climate change,” said Calvin Butler, Exelon’s Senior Executive Vice President and Chief Operating Officer. “Climate READi will facilitate the collaboration and robust planning needed to address this challenge. We look forward to partnering with EPRI and others on this critical initiative.”

“As the world’s weather and climate are changing, so too must the energy sector’s approach to ensuring a more resilient power system,” said EPRI President and CEO Arshad Mansoor, who announced the launch of Climate READi at the National Press Club in Washington, D.C. “Proactively strengthening grid resilience against potential climate and weather impacts, now and in the future, will require unprecedented collaboration among the energy sector and its stakeholders.”

Climate READi is one more step in Exelon’s focus on climate change. In addition, Exelon also recently joined the Department of Energy’s Better Climate Challenge and made a Path to Clean commitment to reduce Exelon-wide operations-driven emissions by 50 percent by 2030 and to achieve net-zero operational emissions by 2050. The company’s Climate Change Investment Initiative (2c2i) invests $20 million over 10 years in companies with emerging technologies that will drive the clean energy transition and improve grid resilience. Each of the company’s utilities have implemented smart grid technology helping customers reduce energy use. Exelon’s utilities are working to electrify 30 percent of their vehicle fleets by 2025 and 50 percent by 2030, a complement to building out the public electric vehicle infrastructure in the company’s six utility markets.

The 13 founding Climate READi members are: Alliant Energy Corporation, Ameren Corporation, American Electric Power, Consolidated Edison Co. of New York, Exelon Corporation, National Grid PLC, New York Power Authority, Pacific Gas & Electric, Portland General Electric, Puget Sound Energy, Southern California Edison, Southern Company, and WEC Energy Group.

For more information, visit www.epri.com/READi, or email ClimateREADi@epri.com.

About Exelon

Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest utility 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 supporting our 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/20220510006531/en/

Liz Keating

Corporate Communications

elizabeth.keating@exeloncorp.com

Media hotline: 312-394-7417

Source: Exelon Corporation

FAQ

What is Climate READi and how is Exelon involved?

Climate READi is an initiative by EPRI to enhance climate resilience in energy systems. Exelon is one of the 13 founding members.

What are Exelon's emission reduction commitments?

Exelon aims to reduce operational emissions by 50% by 2030 and achieve net-zero emissions by 2050.

How much is Exelon investing in clean energy technologies?

Exelon is investing $20 million over 10 years to support emerging clean energy technologies.

Why is Exelon joining Climate READi?

Exelon aims to enhance grid reliability and collaborate on proactive climate resilience measures with other stakeholders.