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 (EXC) generates a steady flow of news as a Fortune 200 utility company and one of the nation’s largest providers of regulated transmission and distribution services. Through its six operating utilities—Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco—Exelon issues updates on customer programs, grid investments, financing activities and regulatory developments that affect more than 10.7 million customers.
News about EXC often covers customer affordability initiatives and assistance programs. Recent announcements include Exelon’s Customer Relief Fund, which has provided $60 million in direct customer assistance over the past year, and an additional $10 million contribution to support customers as winter weather increases energy use. ComEd has also highlighted the launch of a Low-Income Discount program designed to provide percentage-based bill reductions for income-eligible customers, as well as other bill-support and energy efficiency efforts.
Investors and observers can also find coverage of Exelon’s grid and transmission projects. ComEd has reported on new Transmission Security Agreements with large load customers to ensure they pay their fair share of transmission costs, as well as the expansion of the Wilton Center substation to enable the interconnection of multiple wind and solar farms. Exelon has additionally been identified with NextEra Energy Transmission in a proposed 765-kV transmission line project under PJM’s Regional Transmission Expansion Plan.
Other EXC news items include executive leadership changes, such as the appointment of a chief customer and technology officer, and capital markets activity, including the offering and pricing of convertible senior notes due 2029. The Exelon news page on Stock Titan aggregates these updates so readers can follow themes such as customer affordability, infrastructure investment, regulatory disclosures and financing decisions related to EXC.
ComEd achieved $893 million in diverse supplier spending in 2021, representing 42% of its total procurement. This brings its total spend on diverse suppliers to $6.4 billion since 2012, with $641 million spent locally in Illinois. ComEd collaborates with 662 diversity-certified suppliers and emphasizes support through the Clean Energy Act, enhancing opportunities for diverse suppliers in energy efficiency. The report highlights partnerships with notable companies and showcases the growing impact on local economies, contributing $11.8 billion to Illinois GDP from diverse supplier spending between 2017 and 2020.
ComEd is urging eligible Illinois residents to apply for the Low Income Home Energy Assistance Program (LIHEAP) before the May 31 deadline. The program offers financial assistance for energy costs, particularly amid economic challenges from the pandemic and inflation. ComEd provides additional support through its Supplemental Arrearage Reduction Program (SARP) and various billing options, including deferred payment arrangements and budget billing. Customers can utilize the Smart Assistance Manager for personalized assistance and energy-saving options.
ComEd aims to boost its workforce in response to Illinois’ clean energy demands by hiring 180 entry-level employees in 2022 and 500 over the next three years. Applications for 70 overhead helper positions will open on May 23, 2022. New hires will earn $28 per hour during training and can secure full-time union positions with an average salary exceeding $80,000 annually. ComEd emphasizes diversity in hiring, offering various job training programs to support local talent. The initiative aligns with the recent clean energy law in Illinois, aiming to prepare for expanded electric vehicle technologies.
Constellation Energy Corporation (Nasdaq: CEG) reported a strong financial performance for Q1 2022, achieving a GAAP net income of $106 million and an adjusted EBITDA of $866 million, significantly improving from previous losses. The company reaffirmed its full-year adjusted EBITDA guidance of $2.35 billion to $2.75 billion. Constellation is focused on sustainability, launching partnerships with Microsoft and companies like Sheetz and Comcast to enhance carbon-free energy solutions. The company successfully reduced nearly $2.5 billion in debt and aims to strengthen its balance sheet further.
ComEd will kick off summer with the eighth annual Switch on Summer event at Buckingham Fountain in Chicago on May 14, from 12 p.m. to 3 p.m.. This year’s celebration features Brighton Park resident Eugene Rodriguez, the sweepstakes winner, who will activate the fountain. The event includes remarks from ComEd CEO Gil Quiniones, Chicago’s First Lady Amy Eshleman, and entertainment from local artists. ComEd aims to engage the community with educational resources and family-friendly activities, celebrating Buckingham Fountain's 95th anniversary.
Exelon Corporation (Nasdaq: EXC) has joined Climate READi, a three-year initiative by the Electric Power Research Institute (EPRI) focused on enhancing energy system climate resilience amid increasing extreme weather events. This collaborative effort seeks to involve global energy companies and scientists in developing resilient energy systems. Exelon aims to enhance grid reliability and has committed to reducing operational emissions by 50% by 2030 and achieving net-zero by 2050. The company is also investing $20 million over 10 years in clean energy transition technologies.
Exelon Corporation (NASDAQ: EXC) reported first-quarter 2022 results, marking a pivotal moment post-separation from Constellation Energy. The company achieved a GAAP Net Income of $0.49 per share and Adjusted Operating Earnings of $0.64 per share, reflecting a year-over-year increase. Adjusted earnings guidance for 2022 is reaffirmed at $2.18-$2.32 per share. Strong operational performance was noted, particularly in ComEd, which provided record reliability. Recent regulatory activities include distribution rate cases filed by PECO and ComEd, supporting infrastructure investments.
ComEd and Waukegan Public Schools (WPS) have completed a five-year, 51-project energy-efficiency initiative projected to save WPS over
ComEd has launched the EV Readiness Program in partnership with the Metropolitan Mayors Caucus, committing $225,000 to help northern Illinois communities prepare for electric vehicle (EV) infrastructure. The initiative aims to guide local governments in enhancing policies to promote EV adoption and facilitate access to state and federal funding, including a share of the $5 billion investment from Congress. The program aligns with Illinois’ goal of having 1 million EVs on roads by 2030 and fosters cleaner air quality and decarbonization.
ComEd has submitted its inaugural annual ethics and compliance report to the Illinois Commerce Commission (ICC) as mandated by the Climate and Equitable Jobs Act (CEJA). This report outlines the utility's internal controls and commitment to ethical standards, aimed at enhancing transparency for the 9 million residents it serves in northern Illinois. ComEd's CEO emphasized their dedication to high ethical standards and the ongoing efforts to rebuild trust with customers and stakeholders. The report is publicly accessible and includes comprehensive information on compliance policies and financial risk assessments.
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