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 submitted proposed performance metrics to the Illinois Commerce Commission aimed at enhancing reliability and supporting the state's clean energy law. These metrics focus on improving service quality, customer experience, and promoting equity in energy access. Key metrics include the System Average Interruption Duration Index, customer service resolutions, and diversity spending. The initiative aligns with the utility's commitment to a resilient power grid, addressing climate challenges while keeping costs manageable for customers. The approval of these metrics could influence future rate plans.
ComEd is now accepting applications for its Powering Communities program, offering grants of up to
ComEd and its parent Exelon Corporation (EXC) were recognized by the Edison Electric Institute (EEI) for their effective response to power outages during severe weather conditions. ComEd received two Emergency Recovery Awards for restoring power to over 347,000 customers after storms in August 2021 and assisting other utilities in Kentucky, Ohio, and West Virginia after ice storms. The company restored over 90% of affected customers within 20 hours, demonstrating its commitment to improving grid resilience against climate change.
ComEd collaborates with Skybox Datacenters to launch a new 189,000-square-foot data center in Elk Grove Village, Illinois. This facility, Skybox's first in the state, aims to enhance the region's digital infrastructure amid growing commercial data needs. Over the past year, ComEd has assisted in establishing six new data centers in northern Illinois, contributing to over $2 billion in investments. The project will create at least 20 full-time jobs and employ over 200 construction workers. ComEd's focus on reliable, affordable energy access supports this expanding data center ecosystem.
Qnovo, a leader in battery management software, has successfully closed $24M in Series-C financing, led by BorgWarner with participation from OGCI Climate Investments and Constellation Technology Ventures. The funds will be utilized to enhance their software products for electric vehicle (EV) production and stationary grid storage systems. Qnovo's innovative software improves battery performance and safety, addressing critical needs in next-generation vehicles. This investment aligns with the growing demand for sustainable energy solutions.
Constellation, preparing for its separation from Exelon (NASDAQ: EXC), will host an investor and analyst event today to outline its new business strategy. Management will emphasize its role as the largest carbon-free energy producer in the U.S. The separation is anticipated to finalize by February 1. Key highlights include a commitment to a carbon-free future, operational excellence, strong customer relations, and disciplined financial policies. The company aims to achieve 95% carbon-free electricity by 2030 and 100% by 2040, backed by its extensive nuclear fleet.
Exelon Corp (NASDAQ: EXC) hosted an investor event on January 10 to discuss its strategic direction and growth plans post-separation from its Constellation business, effective February 1. The company emphasized a focus on reliable, clean, and affordable energy services for over 10 million customers. Key highlights include projected $29 billion in capital investments through 2025, targeting an 8.1% rate base growth and operating EPS growth of 6-8%. Exelon also introduced adjusted 2022 earnings guidance of $2.18-$2.32 per share, reflecting increased investments at its utilities.
Exelon Corp. (Nasdaq: EXC) announced the formation of Constellation's new Board of Directors, following its separation from Exelon, which is expected to close on February 1. Constellation will become the largest provider of carbon-free energy in the U.S., with shares beginning trading on February 2 under the ticker CEG. The new board, featuring leaders with diverse backgrounds, aims to drive Constellation's strategy toward a clean energy future. Joseph Dominguez will assume the role of president and CEO, succeeding in leadership roles at ComEd and Exelon.
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