Exelon Corporation - EXC STOCK NEWS

ComEd has received two Inspiring Efficiency Awards from the Midwest Energy Efficiency Alliance (MEEA) for its initiatives aimed at promoting energy efficiency. The Innovation Award recognizes its Multi-Family Energy Savings program, which helps both tenants and property owners in multi-family buildings reduce energy costs. The Education Award acknowledges the Energy Efficiency Service Provider Incubator program, which has supported local diverse contractors since 2019. Collectively, these efforts have saved northern Illinois families and businesses over $7.6 billion in energy bills since 2008.

The Jobs & Equitable Energy Transition Study, published by BW Research and commissioned by ComEd, highlights the potential employment effects of Illinois's transition to a decarbonized energy economy.

Key findings indicate that by 2030, higher-paying 'tier 1 jobs' are expected to grow by at least 9%, with a total increase of 15,000 jobs by 2030 under a business-as-usual scenario. A more aggressive decarbonization scenario anticipates a net increase of 41,000 jobs by 2030 and 151,000 jobs by 2050.

Exelon (Nasdaq: EXC) has appointed Jane S. Park as the new senior vice president of Federal Governmental and Regulatory Affairs and Public Policy. In her role, Park will direct Exelon's federal policy strategies and oversee interactions with federal regulators, including the Federal Energy Regulatory Commission and the Environmental Protection Agency. She previously led Exelon's Business Investments organization, focusing on clean energy initiatives and grid modernization. Park's extensive background in customer operations and technology investments aims to advance Exelon's commitment to energy transformation.

ComEd has completed a new 138-kilovolt substation at the U.S. Department of Energy’s Argonne National Laboratory to support its Aurora exascale supercomputer, enhancing reliable energy for critical research. This is the third substation deployed by ComEd at the Lemont campus. CEO Gil Quiniones emphasized their commitment to infrastructure for scientific advancement. The collaboration equips Argonne's research facilities, which serve thousands of scientists annually. ComEd has also achieved record reliability and resilience, claiming to have avoided over 19 million customer interruptions since 2012, saving customers more than $3.1 billion.

ComEd has filed a multi-year grid and rate plan with the Illinois Commerce Commission to bolster infrastructure and promote clean energy under the Climate and Equitable Jobs Act. This initiative aims to enhance grid reliability for 9 million customers in northern Illinois, adapting to climate change’s impact. The rate plan includes a projected increase in the average monthly residential bill by $4.25 from 2024 to 2027, totaling an increase of $17. Key investments focus on improving service reliability and supporting the clean energy transition, potentially creating over 41,000 jobs by 2030. ComEd’s average monthly bill remains among the lowest in the nation, emphasizing commitment to affordability and equity.

ComEd's multi-year grid and rate plans have garnered widespread support from municipal, business, and community leaders across northern Illinois. Key figures, including Joe Duffy from Climate Jobs Illinois and Jack Lavin of the Chicagoland Chamber of Commerce, emphasized the plan's role in promoting clean energy, economic competitiveness, and grid resilience. The grid plan aims to enhance infrastructure to meet growing electrification needs and support the state's goal of one million electric vehicles by 2030. Leaders from various sectors express optimism that these initiatives will create jobs and foster long-term economic growth.

The recent study by BW Research, commissioned by ComEd, highlights that Illinois could see a net increase of over 150,000 jobs by 2050 due to the clean energy transition. The report outlines two scenarios: one projects a net gain of 15,000 jobs by 2030 with current policies, while the other predicts 41,000 jobs under enhanced decarbonization efforts. Additionally, the research indicates improvements in job quality, with high-paying positions expected to rise by 17% under the latter scenario.

ComEd has received two prestigious awards from the Edison Electric Institute (EEI) for its exceptional emergency response efforts following Hurricane Ian and severe thunderstorms in 2022. The Emergency Assistance Award recognized ComEd's support for utilities affected by Hurricane Ian, deploying 320 employees and offering over 50,000 hours of assistance. The Emergency Recovery Award praised ComEd's quick restoration efforts, where 50% of affected customers regained power within two hours after severe thunderstorms, benefiting 195,000 customers. These accolades underscore ComEd's commitment to enhancing power grid resilience and community support.