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 (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.
Crayhill Renewables and Exelon Power Services have launched a comprehensive lifecycle management program aimed at supporting renewable energy projects. This program offers a combination of financing and operational services, including pre-Notice to Proceed lending and take-out equity from Crayhill. With over $1 billion invested in pre-NTP assets, the partnership seeks to streamline project development and accelerate the energy transition across the U.S. This integrated solution aims to enhance operational efficiencies and enable rapid market entry for renewable energy projects.
Exelon Generation announced plans to refuel its Byron and Dresden nuclear plants following a comprehensive energy bill passed by the Illinois legislature. This legislation is expected to preserve over 28,000 jobs, lower carbon emissions, and prevent consumer energy costs from rising. Exelon's nuclear plants generate over 90% of Illinois' carbon-free energy and are essential for meeting state climate goals. The company will begin filling vacant positions and resume capital projects post-legislation approval, ensuring the plants remain operational amidst economic challenges.
The ComEd Powering the Arts Program has awarded nearly
ComEd has been recognized by Site Selection magazine as one of the top utilities in economic development, ranking in the top one percent of more than 3,300 electric companies nationwide. In 2020, ComEd's infrastructure improvements generated
ComEd and the Metropolitan Mayors Caucus have launched the 2021 Powering Safe Communities Program, distributing $170,000 in grants to 20 public agencies in northern Illinois. This initiative focuses on clean transportation projects aimed at reducing carbon emissions and enhancing community safety. Grant recipients will fund projects such as electric vehicle charging stations, updated warning systems, and public safety equipment. Over the past seven years, the program has awarded over $1 million to improve public safety in the region.
Constellation has announced the opening of applications for its 2021 E2 Energy to Educate grant program, offering funding up to $25,000 for student projects and up to $50,000 for higher education initiatives. The deadline for submissions is October 1, 2021. Aiming to enhance equity in the energy sector, the program emphasizes projects that engage underserved groups, focusing on STEM education. Last year, over $500,000 was awarded across 22 projects, benefiting over 20,000 students. To date, the program has allocated $4.5 million, impacting more than 225,000 students nationwide.
Exelon Corporation (Nasdaq: EXC) reported second quarter 2021 results, showing Adjusted Operating Earnings of $0.89 per share, up from $0.55 in Q2 2020. This increase was attributed to higher utility earnings and reduced storm costs. However, GAAP Net Income decreased to $0.41 per share from $0.53 year-over-year. The company announced a new 'path to clean' goal targeting net-zero emissions by 2050 but also faces plant retirements due to stalled clean energy legislation. Exelon reaffirmed its full-year Adjusted Operating Earnings guidance of $2.60-$3.00 per share.
Exelon invested $11.2 billion with diverse-certified suppliers from 2016 to 2020, generating $3.6 billion in additional revenue and $1.1 billion in wages for local businesses in 2020. This spending also supported 19,967 jobs in the communities served. The 2020 diversity-certified supplier spend rose to $2.7 billion, a 13% increase from 2019, with 63% spent locally and a $183 million rise in Tier 1 contracts. Exelon aims to enhance community diversity through its procurement practices.
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