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.
Constellation CEO Joe Dominguez emphasized the vital role of nuclear energy in achieving a clean-energy economy during a keynote at the Nuclear Energy Assembly. He argued that enhancing the nuclear fleet is crucial for tackling the climate crisis and ensuring energy security. Constellation plans to produce 95% carbon-free electricity by 2030 and aims for 100% by 2040. The company is exploring technologies like hydrogen production and direct air capture, supported by DOE grants, to further reduce emissions and foster sustainable fuel solutions.
ComEd has launched three studies aimed at addressing technical and community challenges related to the clean energy transition mandated by the Climate and Equitable Jobs Act (CEJA). These studies focus on decarbonization pathways, disadvantaged communities, and the impact on jobs. Partnering with various research teams, ComEd aims to explore achieving net-zero emissions by 2050, improve access to clean energy services for underrepresented groups, and identify job opportunities in the clean energy sector. The studies will conclude by fall 2022, supporting ComEd's investment plans for a sustainable energy future.
With temperatures in northern Illinois expected to reach the mid- to upper 90s, ComEd encourages customers to manage their energy use and save on electric bills. Tips include keeping windows closed to block heat, adjusting thermostat settings for efficiency, and utilizing fans to cool homes. ComEd offers assistance through its Energy Doctors for personalized energy-saving advice.
ComEd, a unit of Exelon Corporation (NASDAQ: EXC), services over 4 million customers in Illinois, representing 70% of the state's population.
ComEd has restored power to over 100,000 customers in northern Illinois following severe storms that affected approximately 125,000 customers. The utility surpassed its goal to restore 80 percent of services by 3 PM on June 14, with about 13,000 customers still without power as of that time. To assist those without service, ComEd has deployed cooling buses and care vans in various locations. The utility is prioritizing critical services and plans for further restoration efforts.
ComEd has restored power to nearly 80,000 customers after severe storms caused outages for over 125,000 in northern Illinois. As of 4 a.m. on June 13, about 47,000 remain without power, with restoration efforts ongoing. Over 500 crews are working continuously, and 80% of remaining customers are expected to have power restored by 3 p.m. on June 14. ComEd emphasizes safety and encourages reporting downed wires immediately. For updates, customers can sign up for alerts and use the mobile app.
ComEd is preparing for severe weather in northern Illinois, including thunderstorms and high temperatures. The company has activated its Emergency Operations Center and deployed additional crews to address potential power outages. ComEd has successfully prevented over 17 million customer interruptions since 2012 through smart grid investments. The company prioritizes restoring power to critical facilities first, emphasizing public safety. Customers are encouraged to report outages by texting OUT to 26633 and can track outages via ComEd's website and mobile app.
Constellation, based in Warrenville, Illinois, has engaged over 13,000 workers to perform maintenance and technology upgrades during six spring refueling outages at its nuclear plants. These efforts aim to ensure continuous, safe, carbon-free electricity for 15 million customers during the upcoming summer months. Key activities included inspecting and refurbishing critical components and completing extensive technical projects. The maintenance is expected to enhance reliability and potentially stabilize electricity prices in Illinois, while the Climate & Equitable Jobs Act could yield $1 billion in benefits for local ratepayers.
ComEd has requested $50 million from the Illinois Commerce Commission to enhance energy efficiency programs and support the Climate and Equitable Jobs Act (CEJA). If approved, this would increase residential bills by approximately 30 cents starting in January 2023. ComEd's initiatives have saved customers $6.4 billion since 2008. New measures will enable customers to electrify vehicles and heating systems, while dedicated funding of $10 million annually will assist low-income customers. CEJA aims to reduce carbon emissions and improve energy efficiency.
ComEd is launching its Summer Solstice Photo Contest from June 1 to June 21, inviting residents of northern Illinois to submit sunrise and sunset photos. The contest aims to promote solar energy education while celebrating the summer season. Last year's contest received 1,816 entries. Prizes include four Apple Watch Series 7 devices and a private tour at the Adler Planetarium. Over 26,000 solar systems are connected to ComEd's smart grid, with an expectation of over 80 community solar projects by year-end.
Exelon Foundation has awarded scholarships worth