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.
ComEd is offering grants up to $10,000 for community projects in northern Illinois that focus on environmental protection, public safety, and arts access. The application deadline is March 26, 2021. Since 2013, ComEd has awarded about $2.6 million through partnerships with Openlands and the Metropolitan Mayors Caucus, supporting over 350 projects. Grants include Green Region for public spaces, Powering Safe Communities for safety and electrification, and Powering the Arts for cultural access. Details on eligibility and application are available at ComEd.com/Grants.
ComEd is enhancing customer experience by providing personalized reliability reports with March bills for residential and small-business customers. These reports detail individual service reliability, outage information, and total outages avoided due to investments in a reliable power grid. Since 2012, ComEd's smart grid initiatives have led to over 16 million avoided service interruptions and approximately $2.7 billion in societal savings. Such improvements were highlighted during outages caused by severe weather events.
ComEd is emphasizing the importance of bill-payment assistance as many families and businesses face ongoing financial challenges from the COVID-19 pandemic. Last year, the company provided over $70 million in aid to more than 250,000 customers. This year, ComEd continues to offer financial assistance programs for eligible customers, including residential customers earning up to 250% of the federal poverty level. Customers with past-due balances are encouraged to reach out for assistance at 1-800-334-7661.
Exelon Corp. (Nasdaq: EXC) announced the departure of William Von Hoene Jr., senior executive vice president and chief strategy officer, effective March 31. Over his 19-year tenure, Von Hoene led two significant mergers, enhanced diversity and inclusion efforts, and shaped Exelon’s corporate strategy. His leadership has been instrumental in preserving thousands of jobs and advancing environmental policies. Following his exit, departments he managed will report directly to CEO Chris Crane.
Exelon Corporation (Nasdaq: EXC) reported solid 2020 financials with adjusted earnings at $3.22 per share, above guidance. Despite achieving $400 million in cost savings, the company faced challenges from severe winter storms, impacting Q1 2021 earnings guidance to $2.60-$3.00 per share. Q4 2020 GAAP net income fell to $0.37 per share, down from $0.79 in Q4 2019.
Key developments include a planned utility separation and an $810 million sale of solar assets, with a pre-tax gain of $75-$125 million expected. A quarterly dividend of $0.3825 was declared for Q1 2021.
Exelon Corp. (Nasdaq: EXC) announced a plan to separate into two publicly traded companies: Exelon Utilities (RemainCo) and Exelon Generation (SpinCo). This strategic move aims to enhance financial independence and service to specific customer needs. RemainCo will manage regulated utilities serving over 10 million customers and invest $27 billion over four years to modernize the grid, while SpinCo will lead in clean energy with 31,000 megawatts of generating capacity. The separation is expected to complete in Q1 2022, pending regulatory approvals.
Exelon Generation's six Illinois nuclear plants provided power to 11 million homes during a recent cold snap, operating at nearly 100% output. The facilities ensured reliable, carbon-free electricity for essential services. Chief Nuclear Officer Dave Rhoades highlighted their commitment to safety and operational excellence. The plants recorded a 99% reliability rate last winter and similar performance during the hottest summer on record. Exelon Generation, a leader in carbon-free energy, operates the largest U.S. fleet of zero-carbon nuclear plants, supporting over 20 million homes.
ComEd reported to the Illinois Commerce Commission that the Future Energy Jobs Act (FEJA) is effectively providing residential customers with savings and clean energy benefits that exceed costs. Since its 2016 enactment, FEJA has led to average monthly savings of over $1.30 for residential customers. Notably, in 2020, over 10,500 customers connected renewable energy sources, totaling 183 megawatts. The program is also promoting job opportunities in underrepresented communities. FEJA is set to remain active until 2031, with potential funding of up to $220 million annually for renewable energy.
Exelon Utilities CEO Calvin G. Butler Jr. received the prestigious BEYA Chairman’s Award on February 13 at the annual BEYA STEM conference. This recognition honors his contributions to opening opportunities for Black individuals in science, technology, engineering, and math (STEM). Under Butler's leadership, Exelon has launched various workforce development initiatives, leading to over 700 new hires in the last 18 months. Exelon serves around 10 million customers across several states, making it a major player in the U.S. energy market.
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