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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.
Exelon (EXC) reported strong Q3 2024 financial results with GAAP net income of $0.70 per share and adjusted operating earnings of $0.71 per share, up from $0.67 in Q3 2023. The company reaffirmed its full-year 2024 adjusted operating earnings guidance of $2.40-$2.50 per share and maintained its 5-7% compound annual growth target through 2027. All utilities achieved top quartile reliability performance, with ComEd and Pepco Holdings in the top decile. The company is investing $34.5 billion in energy infrastructure and declared a quarterly dividend of $0.38 per share.
Exelon (Nasdaq: EXC) has declared a regular quarterly dividend of $0.38 per share, payable on December 13, 2024, to shareholders of record as of November 11, 2024. As the nation's largest utility company and a Fortune 200 member, Exelon serves over 10.5 million customers through six regulated transmission and distribution utilities: Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power & Light, PECO Energy Company, and Potomac Electric Power Company.
ComEd has expanded its fleet EV rebate program to include certified pre-owned and repowered battery electric vehicles for business and public sector customers. The Pre-Owned Electric Fleet Vehicle Rebate offers between $5,000-$180,000 depending on vehicle class and customer location, with higher amounts for low-income or equity-investment eligible communities. The program aims to accelerate EV adoption in northern Illinois, supporting the state's goal of 1 million EVs by 2030. Currently, over 116,000 EVs are registered in Illinois. The initiative is part of a $90 million rebate program launched earlier this year, with more funds available in 2025.
ComEd has secured a $50 million federal grant from the U.S. Department of Energy's GRIP program for grid modernization in Rockford, Illinois. Combined with matching funds from ComEd and partners, the total investment will reach $116 million over 2024-2029. The project will enhance grid resilience, expand clean energy resources, and support workforce development. The initiative includes deploying advanced grid technologies, improving demand-side management, and implementing EV charging solutions. The project aligns with Illinois' Climate and Equitable Jobs Act goals for 100% clean energy by 2050.
ComEd and the Metropolitan Mayors Caucus have announced grants of up to $2,500 each for 24 northern Illinois communities through the annual ComEd Powering the Holidays Program. The program, which has provided $172,000 in funding to 70 communities since its launch in 2021, supports holiday light events that promote cultural exchange and foster inclusivity.
The grants will power holiday light events taking place between November 1, 2024 and February 13, 2025. Recipients include various municipalities across northern Illinois, with events ranging from tree lighting ceremonies to winter wonderland walks. The program aims to create experiences that bring people together and celebrate the unique character of local communities.
ComEd's support extends to popular holiday attractions at Lincoln Park Zoo, Brookfield Zoo, The Morton Arboretum, and Chicago Botanic Garden. The initiative reflects ComEd's ongoing commitment to supporting holiday light events across Chicagoland.
Delmarva Power employees have been recognized for their outstanding volunteer efforts in 2023, contributing over 17,200 hours to support regional organizations. Three exceptional volunteers - Ian Rupert, Katherine Shinski, and Kregg Schaen - were honored with the Exelon Powering Communities Award, each receiving a $5,000 grant to further their work with local organizations.
The awards ceremony took place in Washington, D.C., highlighting the recipients' contributions:
- Ian Rupert: Supports Caroline North Little League
- Katherine Shinski: Volunteers at Tuckahoe Equestrian Center
- Kregg Schaen: Dedicates time to Elkton Community Little League
Tyler Anthony, President and CEO of Pepco Holdings, praised the volunteers for strengthening the company's reputation as a thoughtful community partner and distinguishing it from other local business leaders.
Exelon Corp. (Nasdaq: EXC) has announced the promotion of Cynthia McCabe to senior vice president, chief of staff and chief communications officer, effective Nov. 1, 2024. McCabe will oversee communications and marketing across Exelon and its six local energy companies, including external and employee communications, reputation initiatives, branding, advertising, and social media. She will also become a member of Exelon's Executive Committee.
McCabe joined Exelon in 2017 and has held various communications roles within the company. Prior to Exelon, she worked in communications at AFSCME and the National Education Association, and began her career as a reporter. Exelon, a Fortune 200 company, is the nation's largest utility company, serving more than 10.6 million customers through six regulated transmission and distribution utilities.
Delmarva Power is partnering with the University of Delaware and Exelon to promote Electric Vehicle (EV) adoption and demonstrate how EVs can strengthen the electric grid. The initiative aims to showcase the benefits of EVs, including:
- Cost-effectiveness: EV operation can be three to five times cheaper than gasoline and diesel-powered cars
- Improved driving experience: EVs deliver a quiet, smooth ride
- Lower maintenance requirements
- Potential to utilize stored power during high demand periods
Delmarva Power is committed to electrifying their fleet and expanding charger access across the region to facilitate widespread EV adoption. This effort is expected to make clean energy more accessible and contribute to a more reliable energy infrastructure.
Delmarva Power is highlighting its partnership with Historical Black Colleges and Universities (HBCUs) during HBCU Week. The company works closely with University of Maryland Eastern Shore (UMES) and Delaware State University (DSU) to provide programming, financial support, and career opportunities for students.
Key aspects of the partnership include:
- Power Scholar programs offering scholarships, internships, and mentorship
- Campus events to promote energy industry job opportunities
- Summer internships to help students transition into the workforce
- Funding for university improvements and program expansion
- The Delmarva Power Golf Scholarship Classic, which has raised over $100,000 annually for local universities in recent years
The partnership aims to build a diverse energy workforce of the future, providing students with access to careers in the energy sector while benefiting Delmarva Power with well-educated, diverse talent.
Exelon (Nasdaq: EXC) has deployed over 600 field and support personnel to aid in power restoration efforts in Florida following Hurricane Milton. This deployment comes shortly after sending hundreds of crews to assist with Hurricane Helene recovery. Crews from all six Exelon utilities - Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco - are participating in the restoration efforts.
Mike Innocenzo, executive VP and COO at Exelon, emphasized the industry's tradition of mutual assistance during severe weather events. Exelon is investing $35 billion over the next few years to modernize and strengthen the grid, aiming to improve resilience against future storms. The company, a member of the Edison Electric Institute, has a history of responding to calls for mutual assistance, including deployments for Hurricanes Ian (2022) and Idalia (2023).
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