Exelon Spent $11.2 Billion With Diverse Suppliers From 2016-2020

Rhea-AI Summary

Exelon invested $11.2 billion with diverse-certified suppliers from 2016 to 2020, generating $3.6 billion in additional revenue and $1.1 billion in wages for local businesses in 2020. This spending also supported 19,967 jobs in the communities served. The 2020 diversity-certified supplier spend rose to $2.7 billion, a 13% increase from 2019, with 63% spent locally and a $183 million rise in Tier 1 contracts. Exelon aims to enhance community diversity through its procurement practices.

Positive

• Exelon spent $11.2 billion with diverse-certified suppliers from 2016-2020.
• In 2020, this expenditure supported 19,967 jobs and generated $3.6 billion in revenue.
• 2020 diversity-certified supplier spend increased by $346.9 million (13%) compared to 2019.
• 63% of the total supplier spend was in Exelon's key operating areas.
• 71% of the diversity-certified supplier spend was with Tier 1 contractors.

Negative

• None.

Exelon spent $11.2 billion with diverse-certified suppliers across its enterprise from 2016-2020, while Exelon’s 2020 $2.7 billion spend alone supported 19,967 jobs and generated an incremental $3.6 billion in revenue and $1.1 billion in wages for local businesses in communities the company serves. These and other findings are included in the 2020 Exelon Diverse Business Empowerment (EDBE) Annual Report. The expenditures spanned the entire business, including Exelon’s six electric and gas utilities, Exelon Generation and Constellation.

“One of the best ways we can support diversity is to ensure that our dollars are spent with businesses that reflect the diversity we see in the communities we serve,” said Bridget Reidy, executive vice president and COO, Exelon, “We strive to apply these same ideals in everything we do, from how we build our workforce to the investments we make in nonprofit organizations across our service territories. It’s not just the right thing to do, but it also makes us a better, stronger and more responsive company.”

Exelon operates in some of the nation’s largest and most ethnically diverse metropolitan areas, including Baltimore, Chicago, Washington, D.C., and Philadelphia.

Some additional information about Exelon’s diverse spend from the 2020 Supplier Diversity Report:

• 2020 diversity-certified supplier spend was $2.7 billion, an increase of $346.9 million, or 13 percent, over 2019
• 63 percent of the total was spent locally in Exelon's key operating areas – Illinois, Pennsylvania, Maryland, New Jersey, Delaware, District of Columbia and Texas – where its businesses are most heavily concentrated
• 71 percent of the total diversity-certified supplier spend was with Tier 1 contractors, which are defined as diverse contractors with a direct supply contract with Exelon
• 2020 Tier 1 spend increased $183 million over the 2019 Tier 1 diversity-certified supplier expenditures

Click here to access the full 2020 Exelon Diverse Business Empowerment (EDBE) Report.

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/20210802005566/en/

FAQ

What was Exelon's spending on diverse-certified suppliers in 2020?

Exelon spent $2.7 billion on diverse-certified suppliers in 2020.

How many jobs did Exelon's spending support in 2020?

Exelon's spending supported 19,967 jobs in 2020.

What increase in diverse spending did Exelon report from 2019 to 2020?

Exelon reported a $346.9 million increase (13%) in diverse-certified supplier spending from 2019 to 2020.

What portion of Exelon's diverse supplier spending was local in 2020?

63% of Exelon's diverse supplier spending was spent locally in key operating areas.

What is the significance of Tier 1 contractors in Exelon's diverse spending?

71% of Exelon's total diverse-certified supplier spend was with Tier 1 contractors.