Exelon Corporation - EXC STOCK NEWS

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.

Exelon Corporation (Nasdaq: EXC) reported strong financial results for Q3 2020, with adjusted earnings of $1.04 per share, exceeding guidance of $0.80 to $0.90. Year-to-date investments of $4.5 billion aim to improve infrastructure and grid reliability. Despite challenges from the pandemic and severe weather, Exelon raised its earnings guidance for the year to $3.00-$3.20 per share. However, GAAP net income decreased to $0.51 per share from $0.79 year-over-year, primarily due to the early retirement of certain generation assets and COVID-19 impacts.

Exelon Corporation's Board of Directors has declared a quarterly dividend of $0.3825 per share on its common stock. The dividend will be paid on December 10, 2020, to shareholders recorded by November 16, 2020, at 5 p.m. Eastern time. Exelon is a Fortune 100 energy company, serving approximately 10 million customers across multiple states and Canada, with a 2019 revenue of $34 billion. It operates one of the largest competitive power generation fleets in the U.S., with a capacity of 31,000 megawatts.

ComEd has launched the ComEd STEM Home Labs, a virtual program aimed at engaging 100 Chicago-area students in STEM education during the COVID-19 pandemic. This initiative, developed by ComEd engineers and Dr. Kate Biberdorf, offers hands-on experiments focused on solar energy, electricity, and circuitry over five months. The program begins on October 24 and aims to inspire underrepresented groups in STEM fields. Students will receive kits to participate in real-time sessions, culminating in a Rube Goldberg machine project.