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 is hosting a free webinar, Navigating the Journey to EVs, on Dec. 1, 2022, at 6 p.m. to assist consumers in transitioning to electric vehicles (EVs). The event provides essential insights on EV benefits, installation of charging stations, and available rebates up to $4,000 through the state's EV Rebate program. Erica Borggren from ComEd emphasizes the health, environmental, and economic benefits of EVs, which can save drivers over $2,000 annually on fuel. Interested attendees can register for the webinar at NavigatingtheJourneytoEVs.eventbrite.com.
ComEd has awarded scholarships to four local students pursuing STEM degrees at Illinois Institute of Technology and University of Illinois Chicago as part of its 2022 ComEd Scholars program. This initiative aims to bridge the funding gap for students and foster diversity in the STEM workforce. Recipients also benefit from mentorship and internship opportunities at ComEd and its parent company, Exelon. Since its launch in 2019, the program has supported 26 students, highlighting ComEd's commitment to educational equity and workforce development.
Constellation Energy Corporation (Nasdaq: CEG) reported a third-quarter 2022 GAAP net loss of $188 million, a significant decline from a net income of $607 million in the same period last year. Adjusted EBITDA (non-GAAP) decreased to $592 million from $967 million in Q3 2021. The company has narrowed its full-year adjusted EBITDA guidance to $2.45 billion - $2.65 billion. Notably, S&P upgraded its issuer credit rating to BBB, reflecting improved business risk due to supportive policies from the recently signed Inflation Reduction Act. The company is pursuing license renewals for its nuclear plants.
ComEd has launched a new electrical substation in Franklin Park, Illinois, in partnership with Digital Realty, the world's largest provider of data center solutions. This substation, located on Digital Realty's campus, enhances power capacity crucial for supporting the booming data center industry in northern Illinois, which has seen over
ComEd announced its intent to file a comprehensive multi-year grid plan and a four-year rate plan with the Illinois Commerce Commission in January 2023. This initiative aligns with the Climate and Equitable Jobs Act's goals for clean energy and job creation. CEO Gil Quiniones emphasized that a resilient grid is essential for decarbonization and local environmental improvement. Notably, ComEd achieved record reliability in 2022, with rates significantly lower than national averages, enhancing service for over 4 million customers in Illinois.
Exelon Corporation (Nasdaq: EXC) reported a strong third quarter of 2022, with GAAP Net Income at $0.68 per share and Adjusted Operating Earnings at $0.75 per share. This marks an increase from $0.47 and $0.53 respectively in Q3 2021. The company narrowed its full-year EPS guidance to $2.21-$2.29 per share and aims for 6-8% growth from 2021-2025. Key operational achievements include top quartile reliability performance at ComEd. Recent rate case settlements in Delaware and Pennsylvania are expected to enhance revenue streams.
The Board of Directors of Constellation Energy Corporation (Nasdaq: CEG) has declared a quarterly dividend of $0.141 per share on its common stock. This dividend will be payable on December 9, 2022, to shareholders recorded by 5 p.m. Eastern time on November 15, 2022. Constellation is recognized as the largest producer of clean, carbon-free energy in the U.S., supplying energy to millions, including three-fourths of Fortune 100 companies. The company aims to achieve 100% carbon-free power generation by 2040.
ComEd, in partnership with the Metropolitan Mayors Caucus, has awarded $43,000 in grants to support community holiday lighting events across northern Illinois. The initiative, part of the Powering the Holidays Program, provides up to $2,500 to each of the 18 awarded communities to foster cultural celebrations and community unity. Grants can be used for events held between November 1, 2022, and February 13, 2023. The program underscores ComEd's commitment to enhancing community identity through festive lighting displays.
Constellation seeks approval from the Nuclear Regulatory Commission to extend operating licenses for its Clinton and Dresden nuclear plants by 20 years, potentially benefiting Illinois' economy significantly. The plants provide carbon-free energy, enough to power 2 million homes, aligning with Illinois' 2050 clean energy goals. The extension could add approximately $1.55 billion to the state's GDP annually. Supported by federal and state policies, the plants are critical for reducing emissions and ensuring energy security.
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