Welcome to our dedicated page for Exelon news (Ticker: EXC), a resource for investors and traders seeking the latest updates and insights on Exelon 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 donating over 3,300 trees and shrubs to northern Illinois communities on Arbor Day, April 29, to enhance green spaces and promote energy efficiency. This initiative, part of the Arbor Day Foundation's program, contributes to cleaner air and reduces energy costs. Since 2015, ComEd has provided over 30,000 trees, saving over 51 million kilowatt hours and sequestering 31.6 million pounds of carbon. The 2023 donation is expected to generate $247,000 in energy savings, with long-term benefits projected at $7.8 million over 20 years.
The U.S. Department of Energy has awarded a $2.5 million grant to Constellation for research on direct air capture (DAC) technology at its Byron nuclear plant in Northern Illinois. This project aims to remove 250,000 tons of CO2 annually, contributing to climate change mitigation. Constellation's partnerships include industry leaders such as 1PointFive Inc. and Carbon Engineering. The study will explore integrating DAC technology with nuclear operations and assess its potential for carbon sequestration, enhancing Constellation's role in a carbon-free future.
Exelon (Nasdaq: EXC) reported significant improvements in electric service reliability across its utilities in 2021, driven by strategic investments in grid modernization and resilience. According to COO Calvin Butler, the company is committed to addressing climate change's impact while aiming for net-zero operational emissions by 2050. Key highlights include a 60% reduction in outage frequency at Atlantic City Electric and record reliability at ComEd, which has avoided over 17 million outages. Exelon plans to invest $29 billion over the next four years to enhance service further.
Exelon Corporation (NASDAQ: EXC) has opened applications for its Green Lab Grants, offering a total of $1 million to education-focused organizations within its service areas. Eligible applicants include public and private schools and nonprofits serving Title I-eligible students, with grants of up to $50,000 available. The funding aims to modernize science labs and support STEM education. Applications are accepted until September 26, 2022. This initiative reflects Exelon's commitment to enhancing educational opportunities in the communities it serves.
ComEd has submitted a request for a $199 million increase in electricity delivery charges to the Illinois Commerce Commission. While this would raise monthly residential delivery charges by approximately $2.20, it is projected that the total average customer bill in January 2023 will be lower than current levels due to a $65 million offset from deferred income tax benefits and a 65% reduction in capacity charges. ComEd aims to improve infrastructure reliability and support a transition to 100% clean energy, while maintaining competitive rates.
ComEd has expanded its Community of the Future program to Rockford, Illinois, collaborating with local leaders to promote sustainability and advanced energy technologies. This initiative aims to integrate clean energy solutions, including solar power and electric vehicles, to reduce costs and carbon emissions for the community. Rockford becomes the second Community of the Future, following Chicago's Bronzeville. The program is supported by a Community Advisory Council of 15 local leaders, focusing on environmental sustainability, safety, job growth, and reliable power access.
ComEd has launched the Powering Our Future initiative, investing
Constellation (Nasdaq: CEG), the largest carbon-free energy producer in America, advises investors to reject a mini-tender offer from TRC Capital Investment Corp. dated April 1, 2022. The offer is to buy up to 2 million shares at a price 4.26% below the current market value. This represents 0.61% of Constellation's outstanding shares. The SEC warns that mini-tender offers may lack investor protections and often come at below-market prices. Constellation encourages shareholders to review current quotes and consult advisors before responding to TRC's offer.
ComEd has appointed Lisa Graham as the new senior vice president, chief financial officer, and treasurer, effective April 1. Graham brings 12 years of experience with the company and formerly served as Exelon's treasurer. She succeeds Joe Trpik, who has transitioned to Exelon's senior vice president and corporate controller. CEO Gil Quiniones expressed confidence in Graham's leadership abilities to drive financial excellence. This leadership change is part of a broader series of executive announcements, including the appointment of a new general counsel and CEO.
Constellation (NASDAQ: CEG) announces its commitment to National Volunteer Month with over 50 service events planned across 12 states. Employees will collectively contribute nearly 1,000 service hours, engaging in projects such as building homes for low-income families, food distribution, and environmental clean-ups. CEO Joe Dominguez highlighted the importance of community service in enhancing quality of life. In 2021, Constellation volunteers provided more than 62,000 hours of service. As the largest producer of carbon-free energy in the U.S., Constellation aims for 100% greenhouse gas emissions reduction.
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