Exelon Stock Price, News & Analysis

Exelon Generation announced plans to refuel its Byron and Dresden nuclear plants following a comprehensive energy bill passed by the Illinois legislature. This legislation is expected to preserve over 28,000 jobs, lower carbon emissions, and prevent consumer energy costs from rising. Exelon's nuclear plants generate over 90% of Illinois' carbon-free energy and are essential for meeting state climate goals. The company will begin filling vacant positions and resume capital projects post-legislation approval, ensuring the plants remain operational amidst economic challenges.

The ComEd Powering the Arts Program has awarded nearly $130,000 in grants to 16 nonprofit organizations in northern Illinois to enhance community access to the arts. Each organization will receive up to $10,000 to support initiatives aimed at reaching diverse audiences. Since 2018, the program has distributed over $450,000 in grants, benefiting 58 local arts and cultural institutions. ComEd aims to facilitate the recovery of the arts sector post-pandemic, ensuring ongoing engagement and enjoyment of the arts for residents.

ComEd has been recognized by Site Selection magazine as one of the top utilities in economic development, ranking in the top one percent of more than 3,300 electric companies nationwide. In 2020, ComEd's infrastructure improvements generated $2.7 billion in investments and created 6,400 jobs. The company's initiatives, including fleet electrification, workforce training, and renewable energy solutions, have played a pivotal role in attracting new businesses to Illinois. This marks the eighth time ComEd has achieved this recognition.

ComEd and the Metropolitan Mayors Caucus have launched the 2021 Powering Safe Communities Program, distributing $170,000 in grants to 20 public agencies in northern Illinois. This initiative focuses on clean transportation projects aimed at reducing carbon emissions and enhancing community safety. Grant recipients will fund projects such as electric vehicle charging stations, updated warning systems, and public safety equipment. Over the past seven years, the program has awarded over $1 million to improve public safety in the region.

Constellation has announced the opening of applications for its 2021 E2 Energy to Educate grant program, offering funding up to $25,000 for student projects and up to $50,000 for higher education initiatives. The deadline for submissions is October 1, 2021. Aiming to enhance equity in the energy sector, the program emphasizes projects that engage underserved groups, focusing on STEM education. Last year, over $500,000 was awarded across 22 projects, benefiting over 20,000 students. To date, the program has allocated $4.5 million, impacting more than 225,000 students nationwide.

Exelon Corporation (Nasdaq: EXC) reported second quarter 2021 results, showing Adjusted Operating Earnings of $0.89 per share, up from $0.55 in Q2 2020. This increase was attributed to higher utility earnings and reduced storm costs. However, GAAP Net Income decreased to $0.41 per share from $0.53 year-over-year. The company announced a new 'path to clean' goal targeting net-zero emissions by 2050 but also faces plant retirements due to stalled clean energy legislation. Exelon reaffirmed its full-year Adjusted Operating Earnings guidance of $2.60-$3.00 per share.

Exelon invested $11.2 billion with diverse-certified suppliers from 2016 to 2020, generating $3.6 billion in additional revenue and $1.1 billion in wages for local businesses in 2020. This spending also supported 19,967 jobs in the communities served. The 2020 diversity-certified supplier spend rose to $2.7 billion, a 13% increase from 2019, with 63% spent locally and a $183 million rise in Tier 1 contracts. Exelon aims to enhance community diversity through its procurement practices.