Exelon - EXC STOCK NEWS

ComEd has awarded scholarships to three DePaul College Prep students pursuing careers in STEM as part of the 2021 ComEd Scholars program. These scholarships are for juniors and seniors from underserved communities and will continue if the students enroll in STEM studies at DePaul University. The partnership, ongoing since 2017, aims to empower young leaders and increase representation in the energy workforce. Recipients include Téa Byrd, Jocelyn Silva, and Lulia Tekeste. The program provides mentorship and internship opportunities with ComEd.

ComEd is providing enhanced payment assistance programs to support northern Illinois residents facing financial difficulties due to the pandemic. These initiatives include hardship grants for individuals and small businesses, as well as extended payment plans allowing customers to pay outstanding balances over 18 months without upfront payments. Customers can also access various energy-saving tools and programs aimed at reducing electricity costs. For assistance, residents can contact ComEd or visit their website for eligibility details.

Exelon has announced that it will provide full-ride college scholarships, totaling approximately $1 million, to seven young women from its STEM Academy Leadership program. The scholarships cover tuition, room and board, and other expenses not covered by other funding. The initiative aims to support students from diverse and low-income backgrounds, facilitating their entry into the energy workforce. Exelon CEO Chris Crane emphasized the company's commitment to community support, promising ongoing assistance throughout the recipients' college journeys.

Exelon Corporation (Nasdaq: EXC) reported a first-quarter 2021 GAAP Net Loss of $(0.30) per share, a decline from $(0.60) per share in Q1 2020. Adjusted (non-GAAP) Operating Loss for Q1 2021 decreased to $(0.06) per share, down from $0.87 in the previous year. The losses were primarily driven by the impact of February's extreme cold weather, which resulted in an estimated $880 million reduction in net income. In contrast, utility earnings showed strength, with ComEd, PECO, BGE, and PHI all reporting increases in GAAP Net Income. Exelon affirms its full-year adjusted earnings guidance of $2.60 to $3.00 per share.

Exelon Corporation's Board of Directors declared a quarterly dividend of $0.3825 per share on its common stock. This dividend will be payable on June 10, 2021, to shareholders recorded by May 14, 2021, at 5 p.m. Eastern time. As a leading energy company, Exelon operates in 48 states and serves around 10 million customers across various subsidiaries, achieving $33 billion in revenue in 2019. The company has a robust generation capacity including nuclear, gas, wind, solar, and hydroelectric.

ComEd employees, alongside family and friends, are dedicating their time to community service during National Volunteer Month in April. Last year, they volunteered over 11,000 hours, primarily virtually, and raised over $1.6 million for local causes. This year, numerous volunteer projects are planned, such as creating superhero kits for foster children and supporting STEM education initiatives. ComEd, serving over 4 million customers in northern Illinois, emphasizes its commitment to community engagement, empowering employees to design their own service projects.

ComEd has requested a $51 million increase in electricity distribution charges for 2022, adding approximately 20 cents to the average monthly bill for residential customers. This is the first rate increase in four years, pending approval by the Illinois Commerce Commission (ICC). ComEd aims to enhance grid reliability amid severe weather and support the transition to clean energy. Additionally, the company reported spending a record $894 million with diverse suppliers. If approved, residential customers' total bills would average $83, remaining lower than in 2008.

Exelon has been recognized with three awards at the 2020 Electric Power Research Institute (EPRI) Technology Transfer Awards, emphasizing the company's advancements in the electricity sector. These awards celebrate significant collaborative research and its impact on customers. Exelon was honored for its innovation in three projects: using drones for avian diverters, developing interconnection criteria for distributed energy resources, and enhancing grounding practices for mobile equipment safety. These achievements showcase Exelon's commitment to a cleaner energy future.