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 launched a $1.8 million grant program aimed at enhancing clean energy access for low-income families and businesses in northern Illinois. The initiative offers up to $450,000 in grants to four qualified nonprofit organizations that adhere to diversity and inclusion practices. Applications are open until August 5, 2022. This initiative is part of ComEd's broader commitment to support local communities and address economic disparities exacerbated by the pandemic, ensuring equitable access to clean energy resources.
ComEd has graduated 33 diverse contractor businesses from its Energy Efficiency Service Provider (EESP) Incubator program, aimed at enhancing energy efficiency and supporting minority-owned, woman-owned, and veteran-owned firms across northern Illinois. Since 2019, the program has assisted 66 contractors, enabling them to save energy for 139 local residents and businesses. ComEd's initiatives have resulted in energy savings of over 56 million megawatt hours and $6.7 billion in customer savings, while collectively reducing carbon emissions significantly.
ComEd has reintroduced honeybee hives for the third consecutive year beneath its power lines in Prospect Heights, Illinois. This initiative aims to raise awareness of pollinator conservation, providing a safe habitat for bees that are vital for food production. Two hives have been placed on five acres of native prairie, supporting the local ecosystem. ComEd has collaborated with Alveole, harvesting 42.65 kilograms of honey in previous years. Recent efforts have also seen land designated as pollinator habitats reach nearly 4,000 acres, along with the distribution of 3 million milkweed seeds for monarch butterflies.
Constellation Clearsight has entered a long-term partnership with Voliro AG, aiming to integrate advanced airborne robotic technology for energy inspections in the U.S. market. This collaboration leverages Voliro's innovative drone capabilities, allowing Clearsight to deliver enhanced inspection services with features like Non-Destructive Testing and Ultrasonic Testing. According to executives from both companies, this agreement is expected to enable faster and safer inspections, improving operational efficiency in maintaining critical infrastructure.
The Powering the Holidays program, launched by ComEd and the Metropolitan Mayors Caucus, is offering $45,000 in grants for community-driven holiday events across northern Illinois. Each community can apply for up to $2,500 to enhance holiday light displays that celebrate diverse cultures. The funding has increased from $25,000 due to last year's success. Eligible applicants must partner with local government entities and match 20% of the grant funding. Applications are open until September 9, 2022, for events running from November 1, 2022, to February 13, 2023.
ComEd has successfully trained nearly 2,400 residents in Illinois since 2017 through clean energy programs. In 2021, over 681 individuals completed training, achieving an 89% graduation rate and an 83% job placement rate. The program focuses on diversity, with 60% of participants being minorities. Supported by a $30 million investment, the Future Energy Jobs Act (FEJA) aims to enhance workforce equity in the renewable energy sector. Notable programs include the Solar Training Pipeline and the Craft Apprenticeship Training, with significant job placement rates reported.
ComEd has submitted a plan to the Illinois Commerce Commission to support beneficial electrification, committing
ComEd has partnered with the City Colleges of Chicago (CCC) to launch the Overhead Electrical Line Worker (OELW) training program, aimed at preparing job seekers for entry-level positions in the electrical industry. This program, running from September 12, 2022, to March 30, 2023, at Dawson Technical Institute, offers scholarships and the chance to secure well-paying jobs with starting wages of nearly $29/hour. ComEd plans to hire an additional 500 entry-level workers in the next three years to meet clean energy demands. Over 60% of OELW graduates have been employed by ComEd since the program's inception.
Cleartrace has secured a $20 million financing round led by ClearSky, with investments from Brookfield Renewable, EDF Energy North America, Tenaska, and Exelon. This funding supports the growth of its carbon and energy management platform, which delivers hourly energy and carbon data to aid companies in achieving decarbonization goals. The company is already collaborating with notable clients such as Iron Mountain and JPMorgan Chase. The investment will also provide the participating firms with board representation, enhancing strategic direction.
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