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.
In 2020, Exelon Generation's Illinois nuclear fleet generated a record amount of carbon-free electricity, crucial during the COVID-19 pandemic. The fleet achieved significant milestones, with Byron and Dresden stations breaking world records for refueling outages, while other plants set annual production records. Exelon’s plants accounted for over half of Illinois’ electricity and nearly 90% of its carbon-free energy, with an impressive capacity factor of 95.4%. However, the planned retirement of Byron and Dresden stations this fall, due to unfavorable market policies, raises concerns as they produce 30% of the state's carbon-free power.
Exelon released its Environmental, Social and Governance (ESG) Report, emphasizing its commitment to corporate social responsibility and transparency. The report showcases Exelon's leadership as the largest producer of carbon-free energy and its advocacy for emissions reduction policies. Highlights include a $20 million investment in climate technologies, significant savings for customers through energy efficiency programs, and extensive community support with over $51 million in contributions. The report also underscores its diverse workforce and board and outlines initiatives aimed at fostering equity and sustainability.
ComEd warns customers about a rise in scams during the COVID-19 pandemic, including imposters posing as utility workers or tree service employees to steal valuables and personal information. Reports of scams have increased by 60% since 2017, targeting vulnerable individuals struggling to pay bills. Scammers often threaten to shut off service, demanding immediate payment via prepaid cards. ComEd emphasizes that legitimate employees will never demand such payments and offers tips to identify scams. Additionally, ComEd provides financial assistance programs to help customers manage their bills.
ComEd is offering grants of up to $10,000 to support public safety, the environment, and the arts in northern Illinois. These grants, available to municipal and public safety agencies as well as arts organizations, are part of three programs: Green Region, Powering Safe Communities, and Powering the Arts. ComEd has also committed significant resources, with approximately $18.6 million contributed in 2020 to aid local communities amidst economic challenges. Grant applications are open until March 26, 2021.
The Illinois Commerce Commission approved ComEd's request for a $14 million decrease in delivery service charges for 2021, marking the fifth rate decrease in ten years. This will lower average residential bills by about $1 per month, resulting in an average bill of nearly $82. ComEd's rates are significantly lower than the average in the top 20 U.S. metro areas. Customer reliability improved by over 70% since the smart grid program began in 2012, providing $655 million in economic value from avoided outages.
ComEd has announced the continuation of its scholarship program for northern Illinois students pursuing engineering degrees, aimed at bridging the tuition gap not covered by financial aid. This year, eight new recipients will benefit from the ComEd Scholars program, which also offers guaranteed internships and mentorship opportunities. The initiative supports students from diverse backgrounds to overcome economic challenges and invest in STEM education. ComEd's commitment highlights its role in empowering local communities and fostering innovation.
Constellation awarded over $500,000 in E2 Energy to Educate grants, aimed at enhancing STEM education in energy science. The initiative, part of Constellation and Exelon's commitment to community engagement, will benefit over 20,000 students across multiple states. Projects funded include carbon reduction experiments and renewable energy camps. Since 2010, the program has allocated more than $4.5 million to support 163 projects, enhancing energy education for over 220,000 students.
ComEd highlights Utility Scam Awareness Day on Nov. 18, warning customers about increasing energy-related scams, which have surged 60% since 2017. Imposters target families with past-due bills, often making calls appear legitimate. Common tactics include demanding immediate payments via prepaid cash cards and impersonating ComEd employees. To protect customers, ComEd provides tips to identify scams and emphasizes ongoing financial assistance for those affected by COVID-19, including suspended service disconnections until March 31, 2021.
ComEd has launched a Small Business Assistance Program to support small businesses in northern Illinois struggling due to the COVID-19 pandemic. Eligible businesses with outstanding energy bills can receive a one-time grant of 30% off their total ComEd balance, capped at $1,000. This initiative is part of ComEd's broader support efforts, which include flexible payment options and the recently announced Helping Hand program. ComEd has also continued suspending service disconnections for financially impacted customers until March 31, 2021.
ComEd has launched a new assistance program called Helping Hand to provide one-time grants of up to $300 for low-income residential customers facing financial hardship due to the COVID-19 pandemic. The program aims to help these customers manage their past-due balances more effectively. Additionally, ComEd has extended the suspension of service disconnections for eligible customers until March 31, 2021. This initiative adds to ComEd's existing assistance options, including an $18 million bill-payment program and flexible payment arrangements for struggling households.
FAQ
What is the current stock price of Exelon Corporation (EXC)?
What is the market cap of Exelon Corporation (EXC)?
What does Exelon Corporation do?
How many customers does Exelon serve?
What is Constellation Energy?
What are some of Exelon's recent achievements?
What sustainability initiatives is Exelon involved in?
How does Exelon contribute to grid reliability?
What is Exelon's financial performance?
Which states does Exelon operate in?
How can I stay updated on Exelon's news?
What are some of Exelon's key subsidiaries?
