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) operates at the forefront of energy delivery through its regulated utilities and competitive power generation services. This dedicated news hub provides investors and industry stakeholders with timely updates on EXC's strategic initiatives, financial performance, and operational milestones.
Access official press releases, earnings reports, and regulatory filings alongside curated analysis of Exelon's role in advancing sustainable energy infrastructure. Track developments across key areas including grid modernization projects, rate case decisions, and renewable energy investments that shape the company's position in North America's energy landscape.
Our continuously updated feed serves as your primary source for understanding EXC's responses to market trends, environmental policies, and technological innovations in electricity distribution. Bookmark this page to monitor how Exelon's dual focus on reliability and innovation impacts its service territories and competitive generation portfolio.
The Exelon Foundation, in partnership with Exelon Corp., has reintroduced its annual STEM Leadership Academy to empower female students in STEM fields. Launching various events in Chicago, Philadelphia, and Washington D.C./Baltimore, the Academy aims to engage 180 students from July 11-16 and August 1-6, 2021. The program combines in-person and virtual components, focusing on climate change impacts. Exelon has committed $1 million for a scholarship program for past attendees, supporting their college education. The initiatives underscore Exelon's dedication to fostering diversity in STEM and addressing environmental challenges.
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.
