Exelon - EXC STOCK NEWS

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.

ComEd announced a $250,000 investment in its EVs for Education program, aimed at enhancing driver education in public high schools across Illinois. The program will award funding to five schools for the purchase of electric vehicles and chargers, providing students with hands-on experience. Schools can apply until December 31, 2022, with the grant amounting to $50,000 each. Since its inception in 2019, ComEd has invested $700,000 in 14 schools. This initiative aligns with Illinois' Climate and Equitable Jobs Act, promoting EV adoption and education about low-emission vehicles.

The Board of Directors of Exelon Corporation has declared a regular quarterly dividend of $0.3375 per share on its common stock. This dividend is payable on December 9, 2022, to shareholders of record as of 5 p.m. Eastern time on November 15, 2022. Exelon, a Fortune 200 company, is the largest energy delivery company in the U.S., servicing over 10 million customers through its six utilities.

The Illinois Commerce Commission has approved a collaboration between Peoples Gas and North Shore Gas to transmit natural gas meter data through ComEd's smart grid. This innovation will enhance efficiency, save gas customers approximately $5.5 million annually, and reduce carbon emissions by 626 tons per year. The project will eliminate over 580,000 vehicle miles driven for meter readings and provide customers with access to energy usage analytics. The implementation of the Advanced Metering Infrastructure (AMI) is expected to be completed by the end of 2024 for Peoples Gas.

ComEd has launched its Smart Assistance Manager (SAM) tool in Spanish to help Spanish-speaking customers access financial-assistance and energy-management programs. SAM allows users to identify eligible programs based on their household energy usage and billing history. Key offerings include the Low-Income Home Energy Assistance Program (LIHEAP), flexible payment arrangements, and energy efficiency options. Additionally, ComEd has eliminated late-payment fees and no longer charges customers for using credit or debit cards for bill payments. This initiative aims to improve support for low-income households.

ComEd highlights the issue of energy vampires, appliances that draw power even when off, contributing to up to 10% of household energy use. The company shares tips for customers to reduce energy costs, like using power strips, unplugging chargers, and utilizing ENERGY STAR® products. Since 2008, ComEd's energy efficiency initiatives have saved customers over $7 billion and nearly 65 million megawatt-hours of power. Free home energy assessments have helped 130,000 homeowners save approximately $17.5 million on bills.

ComEd, in collaboration with North Carolina State University’s FREEDM Systems Center, has secured a $200,000 grant from the U.S. Department of Energy to fund a $5 million project aimed at enhancing extreme fast charging (XFC) technology for electric vehicles. This initiative will facilitate faster EV charging, reducing times to as little as 15 minutes. The project highlights the growing push towards cleaner energy solutions, aiming to alleviate consumer concerns related to charging times and promote EV adoption.

ComEd has launched its unique Give-A-Ray program, providing income-eligible customers with the opportunity to access community solar projects, leading to an annual savings of about $1,000 on electricity bills for up to three years. The program includes projects in Rockford and Kankakee, serving over 560 customers. By the end of this year, ComEd will have interconnected more than 80 community solar projects, aiming for a solar generation capacity increase from 500 MW to 2,700 MW by 2030.

Constellation has appointed Nneka L. Rimmer to its Board of Directors, effective November 1, 2022. Rimmer, previously the president of Global Flavors & Extracts at McCormick, brings extensive experience in leadership, growth, and strategic expertise. Her prior role included overseeing a $4.2 billion acquisition, contributing to McCormick's success. Rimmer's appointment aligns with Constellation’s mission to transition to a carbon-free future, aiming for 100% carbon-free power generation by 2040.