Welcome to our dedicated page for Exelon Corporation news (Ticker: EXC), a resource for investors and traders seeking the latest updates and insights on Exelon Corporation 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.
Exelon (NASDAQ: EXC) will propose two new Board members, Charisse R. Lillie and Matthew C. Rogers, at the April 25, 2023 Annual Shareholders Meeting. Current board members Paul Joskow, Ann Berzin, and Carlos Gutierrez will depart without seeking re-election. Lillie brings extensive experience in law and corporate governance, while Rogers has a background in sustainability and energy transition. Joskow, Berzin, and Gutierrez contributed significantly during their tenures, particularly during Exelon’s separation from Constellation Energy. The Board emphasizes the need for fresh perspectives in guiding Exelon's clean energy transformation.
FulcrumAir has successfully installed over 1,500 Power Line Sentry Hawk Eye™ Bird Flight Diverters (BFDs) in collaboration with Atlantic City Electric, serving approximately 560,000 customers in southern New Jersey. This initiative aims to mitigate avian mortality and service interruptions caused by bird collisions on transmission lines. The installation process eliminates the need for road closures, bucket trucks, and power outages, enhancing operational efficiency. Atlantic City Electric officials recognized the pilot's success and expressed interest in further installations to support wildlife protection and improve service reliability.
Exelon Corporation (Nasdaq: EXC) reported Q4 2022 GAAP net income of $0.43 per share, up from $0.31 in Q4 2021, and adjusted operating earnings of $0.43 per share. For FY 2022, GAAP net income reached $2.08 per share, increasing from $1.65 in 2021. The company forecasted 2023 adjusted earnings between $2.30 and $2.42 per share. A quarterly dividend of $0.36 was declared, marking a 6.7% increase from the previous quarter. Exelon plans to invest $31 billion over the next four years to support infrastructure and customer needs, anticipating a 7.9% growth in rate base and 6-8% annualized EPS growth from 2022 to 2026.
Constellation Energy Corporation (Nasdaq: CEG) announced a new capability through PJM to provide hourly time-stamped carbon-free energy certificates, aiding customers in demonstrating carbon-free energy use at all times. This enhancement supports Constellation's Hourly Carbon-Free Energy Matching product. This initiative is crucial for businesses, particularly clean hydrogen producers, to meet federal tax credits. By allowing the retirement of energy certificates based on specific hours, the program provides transparency and supports sustainability goals.
ComEd hosted an event during Black History Month, engaging 70 Black high school students in STEM activities to foster career interest in science, technology, engineering, and math fields. The event occurred on February 11 at ComEd’s Chicago North facility, where students built and tested robots with guidance from ComEd engineers and guest speaker Dr. Kate Biberdorf. Each student also received a $250 scholarship. Despite 12% of the U.S. workforce being Black Americans, only 7% are represented in STEM fields. ComEd aims to enhance diversity in STEM through programs like this.
ComEd is showcasing electric vehicles (EVs) at the Chicago Auto Show from
ComEd and Summit Ridge Energy (SRE) have launched the 75th community solar project, the Speedway Solar project in Joliet, Illinois. This 2.495 MW project will serve over 350 customers, providing access to renewable energy and cost savings on energy bills. Featuring over 2,300 solar panels on 31 acres, it aims to assist customers without roof space for solar installation. ComEd plans to double its community solar projects by year-end, serving around 36,000 customers and increasing solar capacity from 650 MW to approximately 3,300 MW by 2030, leveraging a growing trend in solar applications.
ComEd and the City of Chicago have forged two significant agreements—the Energy and Equity Agreement and a new franchise agreement—to support Chicago’s Climate Action Plan. These agreements aim to enhance access to cleaner energy, workforce development, and the promotion of clean transportation.
ComEd will invest
Quaker Houghton (NYSE: KWR) has partnered with Constellation to purchase Renewable Energy Certificates (RECs) that will cover approximately 50% of its U.S. electricity needs. This initiative is part of Quaker Houghton's commitment to sustainability and achieving its greenhouse gas emissions targets by 2030. The RECs are certified by Green-e® Energy and sourced from renewable energy generators in the contiguous U.S. The company's CEO, Andy Tometich, emphasized the importance of sustainability in Quaker Houghton's long-term strategy, while Constellation supports its clients' sustainability goals.
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