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 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
Summary not available.
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.
FAQ
What is the current stock price of Exelon (EXC)?
What is the market cap of Exelon (EXC)?
