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) generates a steady flow of news as a Fortune 200 utility company and one of the nation’s largest providers of regulated transmission and distribution services. Through its six operating utilities—Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco—Exelon issues updates on customer programs, grid investments, financing activities and regulatory developments that affect more than 10.7 million customers.
News about EXC often covers customer affordability initiatives and assistance programs. Recent announcements include Exelon’s Customer Relief Fund, which has provided $60 million in direct customer assistance over the past year, and an additional $10 million contribution to support customers as winter weather increases energy use. ComEd has also highlighted the launch of a Low-Income Discount program designed to provide percentage-based bill reductions for income-eligible customers, as well as other bill-support and energy efficiency efforts.
Investors and observers can also find coverage of Exelon’s grid and transmission projects. ComEd has reported on new Transmission Security Agreements with large load customers to ensure they pay their fair share of transmission costs, as well as the expansion of the Wilton Center substation to enable the interconnection of multiple wind and solar farms. Exelon has additionally been identified with NextEra Energy Transmission in a proposed 765-kV transmission line project under PJM’s Regional Transmission Expansion Plan.
Other EXC news items include executive leadership changes, such as the appointment of a chief customer and technology officer, and capital markets activity, including the offering and pricing of convertible senior notes due 2029. The Exelon news page on Stock Titan aggregates these updates so readers can follow themes such as customer affordability, infrastructure investment, regulatory disclosures and financing decisions related to EXC.
ComEd has launched the Gar Creek community solar project in Kankakee County, Illinois, providing low to moderate-income customers access to solar energy and potential savings of up to $1,000 annually. The project, developed with Fosler Solar and Trajectory Energy Partners, will serve up to 600 customers and is part of ComEd's 'Give-A-Ray' program. ComEd will cover all subscription fees, enabling participation without installation costs. The project aims to enhance clean energy access in low-income neighborhoods and is supported by Illinois Solar for All incentives.
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ComEd employees are set to raise $100,000 during the Chicago Polar Plunge on March 6, aimed at supporting athletes with physical and intellectual disabilities. This initiative has raised nearly $2 million over more than a decade. The ComEd Coolers team, led by CEO Gil Quiniones, remains one of the top fundraising teams, participating for 11 years. The funds will benefit year-round sports programs for over 4 million customers in Chicago, with a significant number living at or below the poverty line.
ComEd has submitted a $1.7 billion energy efficiency plan to the Illinois Commerce Commission for 2022-2025, aiming to enhance energy-saving programs for customers. The plan supports income-eligible customers, allocating over $113 million yearly to these initiatives, exceeding state requirements. It also focuses on electrification strategies with $10 million annually dedicated to income-eligible electrification measures. Since 2008, ComEd’s programs have reportedly saved customers over $6 billion on energy bills.
ComEd has launched the Smart Assistance Manager (SAM), an online tool helping residential customers access financial assistance and manage electric bills. SAM tailors support options based on household data, allowing users to see programs like LIHEAP and PIPP. Customers can also access recommendations for energy efficiency programs. In addition, ComEd has eliminated late fees for eligible low-income customers and introduced new payment options including PayPal.
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Exelon Corporation (NASDAQ: EXC) joined a coalition defending the EPA's authority to regulate greenhouse gas emissions in the U.S. Supreme Court case West Virginia vs. EPA. This coalition seeks to uphold a lower court ruling supporting the EPA's regulatory powers under the Clean Air Act. Exelon plans to invest over $25 billion in the electric grid over four years, focusing on enhancing renewable energy infrastructure and electrification efforts. These initiatives are vital for achieving cleaner energy goals and addressing climate challenges.
In January 2022, ComEd reported a significant increase in scams targeting its customers, with over 240 reports, a 150% rise from January 2021. Victims lost more than $27,000, escalating the issue 20 times compared to the previous year. Scammers frequently use mobile payment apps, tricking customers into making payments under threat of service disconnection. ComEd advises customers to remain vigilant against these tactics and provides tips on how to identify scams. The company is committed to helping customers avoid falling victim to such fraud.
Exelon Corporation (NASDAQ: EXC) advocates for increased funding for the Low-Income Home Energy Assistance Program (LIHEAP) during National LIHEAP Action Day. The company emphasizes the importance of this assistance for over 6 million financially struggling households. In 2021, LIHEAP provided $8 billion, boosted by an additional $4.5 billion from the American Rescue Plan, set to expire in September 2022. Exelon's utilities connected over 650,000 customers to $430 million in energy assistance last year, stressing the need for continued support for vulnerable communities.
Exelon Corporation (Nasdaq: EXC) and the Exelon Foundation have allocated