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.
ComEd, part of Exelon Corporation, is showcasing its innovative goat vegetation management program with a boat cruise on the Chicago River, featuring 20 goats. This initiative, ongoing since 2019, utilizes goats to clear vegetation under power lines in Pekin, Illinois, significantly reducing the costs and risks associated with traditional methods. The program has successfully cleared 13 acres last year, enhancing service reliability and minimizing power outages. The cruise aims to educate the public about this eco-friendly solution to vegetation management.
ComEd's report on the Future Energy Jobs Act (FEJA) reveals significant progress in clean energy workforce training. In 2020, 94% of trainees (684 out of 728) graduated and secured jobs, an increase from 72% in 2019. The training programs, running through 2029, focus on underrepresented groups and are funded by three $10 million installments. The Solar Pipeline, IBEW Renewable Energy Fund, and Multicultural Job Training programs are key components. Despite pandemic challenges, partnerships with social agencies facilitated training and job placements across various roles in clean energy.
Rockford's Mayor launched a new 15-year solar energy program called Give-A-Ray, in partnership with Nexamp and ComEd, aimed at providing free solar benefits to low and moderate-income residents. This initiative will allow around 650 customers annually to earn monthly utility bill credits, translating to about $250 in savings each year. The program is part of Illinois' Solar for All initiative, established by the Future Energy Jobs Act of 2016. The Rockford community solar farm is set to begin operations in fall 2021, featuring over 6,600 solar panels with a capacity of 2.6 megawatts.
Sunverge and Delmarva Power have launched the Elk Neck Battery Storage Pilot Program, aimed at enhancing grid reliability and integrating distributed energy resources (DERs). With regulatory approval from the Maryland Public Service Commission, the project will deliver backup power and multiple grid services. The program is expected to have a capacity of 0.55 MW / 2.2 MWh and become fully operational by Q1 2022. This collaboration is pivotal for demonstrating the efficiency of Virtual Power Plants and improving local energy resilience.
ComEd, a unit of Exelon Corporation (NASDAQ: EXC), is expanding its smart grid infrastructure in South Elgin, Illinois, by enabling smart water meters. The Village Board approved the initiative, aiming to enhance service reliability and resource conservation. Approximately 8,000 smart water meters will be installed, allowing remote monitoring and leak detection. ComEd's network benefits water utilities by eliminating the need for separate infrastructure. This initiative may encourage other communities in northern Illinois to adopt similar technologies.
The Exelon Foundation has recognized 24 employees for their exceptional volunteer work during 2020, donating $200,000 to local nonprofits in their honor. Awards include a $20,000 Excellence Award to Montgomery Child Advocacy Project and $10,000 Achievement Awards to various organizations. This year saw 127 applicants who volunteered over 770 hours collectively. Since 2005, the program has donated over $2 million to support more than 250 employee volunteers. Exelon Corporation reported $33 billion in revenue for 2020 and serves approximately 10 million customers across multiple states.
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