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 the Smart Assistance Manager (SAM), an online tool helping residential customers access financial assistance and manage electric bills. SAM tailors support options based on household data, allowing users to see programs like LIHEAP and PIPP. Customers can also access recommendations for energy efficiency programs. In addition, ComEd has eliminated late fees for eligible low-income customers and introduced new payment options including PayPal.
Exelon Corporation (NASDAQ: EXC) joined a coalition defending the EPA's authority to regulate greenhouse gas emissions in the U.S. Supreme Court case West Virginia vs. EPA. This coalition seeks to uphold a lower court ruling supporting the EPA's regulatory powers under the Clean Air Act. Exelon plans to invest over $25 billion in the electric grid over four years, focusing on enhancing renewable energy infrastructure and electrification efforts. These initiatives are vital for achieving cleaner energy goals and addressing climate challenges.
In January 2022, ComEd reported a significant increase in scams targeting its customers, with over 240 reports, a 150% rise from January 2021. Victims lost more than $27,000, escalating the issue 20 times compared to the previous year. Scammers frequently use mobile payment apps, tricking customers into making payments under threat of service disconnection. ComEd advises customers to remain vigilant against these tactics and provides tips on how to identify scams. The company is committed to helping customers avoid falling victim to such fraud.
Exelon Corporation (NASDAQ: EXC) advocates for increased funding for the Low-Income Home Energy Assistance Program (LIHEAP) during National LIHEAP Action Day. The company emphasizes the importance of this assistance for over 6 million financially struggling households. In 2021, LIHEAP provided $8 billion, boosted by an additional $4.5 billion from the American Rescue Plan, set to expire in September 2022. Exelon's utilities connected over 650,000 customers to $430 million in energy assistance last year, stressing the need for continued support for vulnerable communities.
Exelon Corporation (Nasdaq: EXC) and the Exelon Foundation have allocated
ComEd has introduced its Future of Energy program, investing
ComEd, a unit of Exelon Corporation (NASDAQ: EXC), reported significant improvements in power reliability due to grid investments since 2011, resulting in a 68% increase in reliability and avoiding over 17 million outages. These upgrades have saved customers more than
ComEd has appointed Zaldwaynaka "Z" Scott, president of Chicago State University, and Smita Shah, CEO of SPAAN Tech, Inc., as independent directors to its board. Their expertise promotes innovation and commitment to equity, particularly for women and minorities. Scott has a robust background in higher education advocacy while Shah leads an infrastructure firm specializing in transportation and telecommunications. These appointments aim to strengthen ComEd’s leadership as it develops a cleaner energy future for northern Illinois.
Exelon Corp. (Nasdaq: EXC) announced the retirement of Mayo A. Shattuck III, the board chair since 2012, effective April 26, 2022. His departure follows the successful separation of Exelon's regulated and unregulated businesses into Exelon and Constellation, respectively. The Board is in the process of selecting a new chair from its independent members, with an announcement expected in the 2022 proxy statement. Shattuck expressed pride in Exelon's achievements and emphasized the need for fresh leadership to enhance value for customers and communities.
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