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.
ComEd has unveiled its ComEd 2030 vision to enhance a low-carbon energy future in northern Illinois. This plan aims to meet evolving customer needs while aligning with the Climate and Equitable Jobs Act to decarbonize by 2045. Key priorities include delivering 100% carbon-free power, increasing reliability, and improving affordability. The company targets supporting 1.8 million electric vehicles and providing $1 billion in energy assistance by 2030. Performance improvements over the past decade underline ComEd's commitment to customer satisfaction and infrastructure resilience.
ComEd has announced enhanced customer-assistance options to support families amid economic hardships. The new offerings, launched at a Community Resource Fair on January 7, include 'Catch Up and Save,' 'Fresh Start Services,' and 'Your Neighbor Fund.' These initiatives aim to help customers manage their bills and improve energy efficiency. ComEd's efforts are informed by a study conducted by ILLUME Advising and IEc, focusing on addressing barriers faced by disadvantaged communities. Customers can access these options online or through community events.
Calvin Butler has taken on the role of president and CEO of Exelon, effective immediately, succeeding Chris Crane. Previously the COO, Butler has a history with Exelon, serving as CEO of Exelon Utilities since 2019. Exelon, the largest energy delivery company in the U.S., serves over 10 million customers across multiple states. Butler aims to lead the company towards a clean energy future while enhancing infrastructure and community engagement. He is also a board member of RLI Corp. and has held various leadership roles in the energy sector.
Exelon Corporation (Nasdaq: EXC) has extended the expiration date for its exchange offers for outstanding unregistered notes until January 6, 2023. Originally set to expire on December 23, 2022, the extension aims to facilitate the exchange of remaining unregistered notes. As of the initial deadline, significant tender amounts were noted, including $645,670,000 tendered from $650,000,000 of 2.750% Notes due 2027, and $649,950,000 from $650,000,000 of 3.350% Notes due 2032. All other terms of the offers remain unchanged.
The independent study by E3 reveals pathways for Illinois to achieve full decarbonization by 2050, aligned with the U.S. Climate Alliance commitment and supported by the Climate and Equitable Jobs Act (CEJA) and the Inflation Reduction Act (IRA). The report emphasizes that, despite progress, additional action in the transportation and buildings sectors is essential. Key findings indicate a need for increased renewable energy generation, doubling of the existing grid size, and prioritization of disadvantaged communities for financial assistance. The study provides guidance for ComEd to ensure affordable and equitable energy transitions.
ComEd and local gas companies will provide free energy-efficiency upgrades to nearly 50 low-income homes in Cook County, funded by over $715,000 in grants from the Federal Home Loan Bank of Chicago. The grants will enable improvements that address health and safety issues while enhancing energy efficiency, supporting households earning at or below 60% of the Area Median Income. The projects are set to begin in 2023 and be completed within 36 months, aiming to save families on utility bills and contribute to environmental sustainability efforts.
Exelon (Nasdaq: EXC) has been awarded the Chairman’s Award by the Center for Energy Workforce Development for its exceptional leadership in workforce development, focusing on diversity, equity, and innovation. The company operates over 75 workforce programs, helping more than 1,300 individuals secure family-supporting jobs since 2019. This year, Exelon plans to invest approximately $14 million in these initiatives. ComEd, Exelon's energy delivery subsidiary, also received a Community Partnership Award for its collaboration in expanding the talent pipeline through skill training programs.
ComEd celebrates the graduation of 121 new pre-apprentices from training programs aimed at becoming full-time lineworkers. This event marks one of the largest overhead classes in recent history, reflecting ComEd's commitment to hire hundreds more entry-level craft workers to support the state's clean energy transition. Graduates come from diverse backgrounds, with over 32% being minorities. ComEd aims to create equitable opportunities in the energy sector, focusing on building a resilient grid and preparing for increased demand for renewable energy and electric vehicles.
ComEd has launched its Community Energy Assistance Ambassador (CEAA) program for the third consecutive year, aimed at providing financial assistance to income-eligible customers struggling to pay their electric bills. This program offers temporary employment to around 100 local residents, who educate community members about bill-assistance options. Since its inception, the CEAA program has reached 1,800 families, delivering over
ComEd launches a $40 million Whole Home Electrification Program aimed at converting low-income homes to all-electric systems. The initiative focuses on energy efficiency and reducing carbon footprints, providing upgrades such as heat pumps and weatherization. Funded repairs will cover 100% of costs for single-family homes and up to 70% for multi-unit buildings. The program aligns with Illinois' Climate and Equitable Jobs Act, enhancing energy savings while aiming to decrease air pollution. ComEd hopes to help 100 homes initially and promote broader adoption of electrification technologies.
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