Welcome to our dedicated page for Exelon news (Ticker: EXC), a resource for investors and traders seeking the latest updates and insights on Exelon 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.
Delmarva Power, in collaboration with Junior Achievement of Delaware, hosted a Job Shadow event on May 17, 2024, in Northampton, MA. The event offered 11th and 12th graders insights into various roles within the company, from operations to regulatory and customer service. Students engaged in safety presentations, environmental demonstrations, and a mock gas leak scenario, emphasizing the importance of safety in the utility industry. Senior Project Manager Vonetta Carter highlighted the value of the program in exposing students to diverse career paths within Exelon. Delmarva Power has partnered with Junior Achievement for over a decade, aiming to foster financial literacy, entrepreneurial skills, and knowledge of the energy industry among local children.
ComEd reported a 72% improvement in reliability for the first four months of 2024, compared to the same period in 2023. This improvement includes a 13% reduction in power outages and a significant decrease in outage duration.
Enhanced performance can be attributed to ongoing grid modernization efforts, including storm hardening, vegetation management, and cable replacement, all aimed at building resiliency.
ComEd's reliability gains have positively impacted northern Illinois, helping avoid 21.7 million outages and saving customers over $3.8 billion since 2012.
These advancements have made Illinois attractive for businesses, resulting in 15 new commercial projects and $8.6 billion in local investments. ComEd is also committed to clean energy, meeting 96% of customer energy needs with decarbonized sources and aiming for 100% under the Climate and Equitable Jobs Act.
On May 15, 2024, Delmarva Power supported Arbor Day celebrations in Ocean City, MD, by organizing a tree-planting event at Ocean City Elementary School. Students, joined by Mayor Meehan and the City Council, planted 150 Rosebud Trees as part of the TreeMendous Program by the Ocean City Beautification Committee. This initiative underscores Delmarva Power's commitment to energy savings, environmental sustainability, and community beautification.
ComEd announces customers have saved $9 billion in energy costs through its Energy Efficiency program. The program received the ENERGY STAR Partner of the Year Award for the 12th year in a row. The program helped customers save $9 billion, reduced carbon emissions, and received recognition from the EPA.
Delmarva Power's commitment to community impact shines as they contributed over $2.3 million and more than 17,200 volunteer hours with local nonprofits in 2023. The company's dedication to empowering communities goes beyond delivering energy services, with various initiatives and partnerships supporting workforce development, education, environmental conservation, and more. Delmarva Power's involvement in National Volunteer Month highlights their ongoing efforts to make a positive difference in the communities they serve.
ComEd announced the addition of two all-electric bucket trucks to its fleet as part of its commitment to electrify 50% of its vehicles and reduce emissions by 50% by 2030. The initiative is aligned with the Exelon-wide climate initiative, Path to Clean. ComEd is on track to convert half of its fleet to electric vehicles and has already added 500 charging stations in northern Illinois. The new trucks sourced through Altec are powered by a single-battery system providing 135 miles of range and will support operations during the storm season.
Julia Reilly, a senior legal analyst, is honored for her volunteer work with the Fair Hill Emergency Response Team (FHERT) in Northern Maryland. She received Exelon's Powering Communities Employee Volunteer award and a $5,000 grant for her dedication to large animal rescue. Julia's passion for horses and community involvement has had a significant impact on the organization and the local horse community.
Exelon (Nasdaq: EXC) reported a GAAP Net Income of $0.66 per share and Adjusted Operating Earnings of $0.68 per share for the first quarter of 2024. The company affirmed its full-year 2024 Adjusted Operating Earnings guidance range of $2.40-$2.50 per share and reaffirmed its fully regulated operating EPS growth target of 5-7% from 2023 to 2027. Exelon achieved top reliability performance at all utilities and made progress on regulatory fronts. Despite challenges like mild weather and storms, Exelon maintains strong operational performance and projects annualized EPS growth of 5-7% through 2027.
ComEd, in partnership with YMCA of Metro Chicago and Goodwill, brings back the CONSTRUCT Infrastructure Youth Academy for high school students interested in construction and energy careers. The program offers paid summer exposure, community service projects, drone-flying demos, and more, aiming to prepare youth for the clean energy sector. ComEd's commitment to creating career pathways aligns with the expected 150,000 clean energy jobs in Illinois by 2050. Interested students can apply until May 31, with classes starting in June and July at various locations across Chicagoland.
Exelon declared a regular quarterly dividend of $0.38 per share on Exelon’s common stock, payable on June 14, 2024, to shareholders of record as of May 13, 2024. Exelon is a Fortune 250 company, the nation’s largest utility company serving 10.6 million customers through six fully regulated utilities.
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