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.
Cambium Networks (NASDAQ: CMBM) has announced a strategic collaboration with QUILT, NODE Networks, TMA Technology Solutions, and ComEd to enhance digital equity in underserved communities across Chicago. The initiative, part of QUILT's Broadband Access for Brighter Futures Program, will deploy a 401-mile fiber network across Cook County and Chicago's South and West Sides, benefiting over 440,000 households.
The project will utilize ComEd's middle-mile infrastructure and Cambium Networks' technology, including cnWave 60 GHz, Enterprise Wi-Fi, cnMatrix Ethernet Switches, and XGS PON, to create a cost-effective hybrid-fiber solution. This approach aims to reduce deployment costs, expedite implementation, and significantly close the digital divide in the area.
ComEd is working to restore power to customers affected by severe thunderstorms in northern Illinois. As of 10:30 AM, 87% of the 107,000 impacted customers have been restored. The storms, with winds up to 70 mph, caused significant damage, particularly in Chicago's northern suburbs. Over 400 field crews with 1,500+ personnel are deployed, with 380 more joining later. ComEd expects full restoration by Thursday afternoon.
The company prioritizes critical facilities like hospitals and emergency services. ComEd's recent grid upgrades have improved system reliability by 70%, avoiding 21.7 million outages and saving $3.3 billion in costs. Customers can report outages via ComEd's website, mobile app, or social media platforms.
ComEd and Openlands have awarded $200,000 in Green Region Grants to 23 Illinois communities for environmental projects. The program, now in its 12th year, supports initiatives to preserve nature, combat climate change, and create habitats for pollinators and wildlife. Since 2012, the program has invested over $2.3 million in more than 280 projects, benefiting nearly 1.6 million people across northern Illinois. Projects include converting turf grass to native vegetation, creating pollinator gardens, restoring woodlands, and installing educational signage. The grants, up to $10,000 each, aim to enhance green spaces and promote sustainability in various communities, from Chicago to Rockford.
ComEd, a unit of Exelon (NASDAQ: EXC), has launched its new Electric Vehicle Service Provider (EVSP) Network to support customers transitioning to electric vehicles (EVs). This user-friendly resource helps residential and commercial customers find ICC-certified service providers for installing EV charging infrastructure. The network includes nearly 50 vendors who are familiar with ComEd's rebate programs and can streamline the application process.
ComEd has also introduced $90 million in rebates for EV charging infrastructure and fleet EVs, with over half of the funding reserved for low-income customers and those in equity investment eligible communities. Residential customers meeting income-eligibility guidelines can receive rebates up to $3,750 for Level 2 charger installation. The initiative aims to make EV adoption more affordable and accessible, supporting the growing EV market in Illinois, which has seen registrations increase from 17,000 in 2019 to over 100,000 today.
Exelon (Nasdaq: EXC) has announced its latest investments through the Climate Change Investment Initiative (2c2i). This program, backed by the Exelon Foundation, provides equity investments and in-kind support to innovative companies working on climate change solutions in Exelon's service areas.
The 2024 investments include four companies:
- Metal Light: Developing clean mobile power generation using metal-air generators
- ReVert Technologies: Creating smart IoT solutions for energy savings
- Station A: Building a marketplace for clean energy transactions
- Eion: Offering permanent carbon removal through enhanced rock weathering
These investments aim to drive critical clean energy and climate solutions, with 2c2i companies raising over $266 million in follow-on investments to date.
Exelon (Nasdaq: EXC) and The Exelon Foundation have launched the inaugural Boys to STEM Academy, a free week-long program for high school boys in grades 10 and 11. The Academy, held at the University of Maryland, College Park, focuses on energy, sustainability, and climate change. Sixty students from Exelon's service areas participated in STEM challenges, conversations with industry leaders, and mentoring sessions with Exelon employees.
This initiative complements Exelon's existing STEM Academy for girls, which has reached over 1,200 participants since 2018. The new program aims to address the educational needs of young men and inspire interest in energy careers. Exelon CEO Calvin Butler emphasized the company's commitment to equity in energy and investing in young minds to shape the industry's future.
ComEd and the Metropolitan Mayors Caucus have recognized 12 northern Illinois communities for completing the EV Readiness Program. This initiative helps local governments prepare for the growing adoption of electric vehicles (EVs) and related infrastructure. The program, launched in 2022, supports municipalities in developing permitting, safety plans, and community engagement strategies to make EV use accessible to all.
The graduating communities range from large urban cities to suburban areas, representing diverse regions. They have achieved Bronze level designation by completing 16 requirements and earning 30 additional points on the EV Readiness Checklist. Glencoe upgraded to Silver status by pursuing additional actions, including participating in ComEd's Fleet Electrification Assessment.
This initiative aligns with Illinois' goal of having 1 million EVs on the road by 2030, as set by the Climate and Equitable Jobs Act (CEJA). ComEd is also offering over $90 million in EV rebate funding to support residential, business, and public sector customers in expanding EV use and infrastructure.
Delmarva Power volunteers recently contributed their time and effort to enhance the Habitat for Humanity ReStore in New Castle County. The team focused on organizing the warehouse and sales floor to improve customer flow and overall shopping experience. This initiative is important as the ReStore's revenue directly funds Habitat for Humanity's home-building projects for families in need.
By improving the store's layout and efficiency, the volunteers aim to boost sales and support community growth. The experience was described as rewarding, highlighting the meaningful connection between volunteer work and the organization's mission. This effort demonstrates Delmarva Power's commitment to fostering community well-being and supporting vital causes in New Castle County.
ComEd and the Metropolitan Mayors Caucus (MMC) have announced the recipients of the 2024 Powering Safe Communities grant program, awarding over $185,000 in grants across ComEd's northern Illinois service territory. The program, now in its tenth year, has awarded over 200 grants totaling nearly $2 million since 2015.
This year's grants, worth up to $10,000 each, support municipal public safety and clean energy initiatives, focusing on electrification projects that can reduce carbon emissions, improve public health outcomes, and advance community resiliency. Common projects among recipients include purchasing solar-powered radar speed signs, electric vehicles (EVs) and bicycles for public safety use, and EV charging stations for municipal and public use.
The initiative aligns with ComEd's broader efforts to promote equitable EV adoption and sustainable community practices, supporting Illinois' goal of getting 1 million EVs on the road by 2030.
Delmarva Power recently participated in the Cradles to Crayons Backpack-A-Thon in Wilmington, Delaware, where volunteers packed backpacks with essential school supplies for local children. This event aims to provide equitable access to educational tools for families facing financial barriers. The initiative not only supplies items like notebooks and pencils but also alleviates financial burdens on families, allowing them to focus on other important aspects of their lives.
The Backpack-A-Thon demonstrates a community-driven effort to support young students and their educational journeys. Delmarva Power expressed gratitude to their volunteers and Cradles to Crayons Philadelphia for their commitment to making a positive impact on children's lives through this initiative.
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