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.
ComEd has inaugurated the Libertyville Training Center, its seventh training facility in northern Illinois, with a celebration for 21 newly graduated overhead electrical apprentices. The center is part of ComEd's efforts to build a skilled workforce for maintaining the nation's most reliable electric grid. It also supports the clean energy sector, which is expected to generate 150,000 new jobs in Illinois by 2050. The training facility features a 64,000-square-foot outdoor area with various training equipment and is important for preparing the grid to handle severe weather and clean energy demands. ComEd has already hired 423 entry-level workers as part of its three-year plan to recruit 500 new trades workers.
Delmarva Power recently celebrated Larry Rohm's 37 years of dedication and service in their Gas team. Rohm, known for his knowledge sharing and teamwork, has been influential in fostering a supportive and collaborative work environment. His colleagues, including Kristina Brennan, Sean Momot, and Serena Wilson-Archie, praised his mentorship and positive influence. Rohm's insights on adaptability have been particularly valued, contributing to the advancement of the Gas division. His commitment to excellence and teamwork continues to inspire his colleagues and positively impact the company's operations.
ComEd has celebrated the first graduating class of its Market Development Initiative (MDI), a program designed to train a diverse, local workforce in the energy efficiency sector. This initial group of 12 residents completed a five-week training program, earning certifications in building standards. Over 90% of the graduates are people of color. ComEd aims to support Illinois' clean energy goals by preparing job seekers for roles in energy efficiency, HVAC, and weatherization. The MDI initiative, launched in partnership with Walker-Miller Energy Services and The Will Group, helps participants gain skills and certifications to reduce energy consumption and lower both consumer bills and carbon footprints. The program also provides business support, helping entrepreneurs navigate project procurement and join ComEd's vendor network. The initiative aligns with Illinois’ Climate and Equitable Jobs Act, which expects to add up to 150,000 jobs by 2050.
ComEd has reached a significant milestone, interconnecting over 1 gigawatt (GW) of distributed energy resources (DER) to its smart grid, including 57,780 residential rooftop solar systems. This achievement positions Illinois as a Midwestern leader in DER capacity. The milestone comprises 1,582 commercial systems, 118 community solar farms, 23 industrial, and two utility-scale projects.
ComEd has facilitated 114% annual growth in DER for residential customers and 25% for commercial and industrial sectors over the past five years. Community solar initiatives have surged by over 4,000% since 2019. This year alone, ComEd processed 8,273 new interconnection applications and completed 5,073 systems, totaling 95.76 MW of capacity.
ComEd projects DER capacity will exceed 3,600 MW by 2030, enough to power about 120,000 homes annually. Various rebate programs are available to support this growth, offering up to $300 per kilowatt for eligible facilities. These efforts align with ComEd's vision for a carbon-free energy future by 2030.
ComEd is ready to ensure safe and reliable electric service amid a forecast of multiple 90°F-plus days in Chicago. The company provides tips to help customers manage energy use, which are part of the ComEd Energy Efficiency Program, one of the largest in the nation. Tips include clearing cooling vents, using window coverings to block heat, operating thermostats efficiently, and using fans for cooling. ComEd reassures that crews and equipment are on standby to address weather-related outages swiftly. ComEd, a unit of Exelon (NASDAQ: EXC), serves over 4 million customers in northern Illinois.
Toyota Motor North America and Pepco are collaborating on vehicle-to-grid (V2G) research in Maryland using the Toyota bZ4X. This project aims to explore bidirectional power flow technology, allowing BEV owners to charge their vehicles and send power back to the local energy grid. Benefits include improved energy reliability, integration of renewables, and potential electricity cost reductions. Maryland, targeting 300,000 EVs by 2025, recently passed the DRIVE Act, requiring utilities to develop interconnection processes for bidirectional chargers. The research will occur at Pepco's Watershed Sustainability Center. Toyota plans to expand its BEV offerings to 30 models globally by 2030.
ComEd is preparing for severe weather expected in northern Illinois on Thursday evening. The forecast predicts hail and winds up to 75 mph, which may cause power outages. ComEd is deploying extra crews and equipment to ensure quick restoration of power. The company highlights its system upgrades and vegetation management efforts, claiming these have improved reliability by over 70% since 2011, preventing more than 21 million outages. Customers are advised to stay clear of downed power lines and report outages via text, phone, or the ComEd app. Priority will be given to critical facilities during power restoration efforts.
ComEd and Compass Datacenters have launched a major data center project at the former Sears Headquarters in Hoffman Estates, Illinois. This project represents a $10 billion investment, aiming to meet the region’s growing digital needs and revitalize the area. The development will feature five hyperscale data centers and create around 1,000 jobs during its multi-year construction period starting this year. ComEd will provide infrastructure enhancements, including a new onsite substation set to be operational by mid-2026. The project emphasizes sustainable practices, utilizing technologies like CarbonCure and water-free cooling. Compass CEO Chris Crosby highlighted the company’s methodical approach to sustainable building. The initiative is expected to bolster the local economy and support the region’s digital infrastructure growth.
Exelon (Nasdaq: EXC) has invested nearly $10 million in nine local businesses in Baltimore, Chicago, Washington D.C., and Philadelphia as part of its Community Impact Capital Fund (CICF) initiative. Launched in 2022 with the Exelon Foundation, the $36 million CICF aims to support economic growth and entrepreneurship in under-resourced communities. Notable investments include Sweeten ($1M), Gemini Energy Solutions ($1M), and Crosstown Fiber ($2M). The fund is managed by RockCreek, and businesses facing financing challenges are encouraged to apply.
ComEd is reminding customers about various programs available to help manage and reduce electric bills as summer temperatures rise. These programs include the Low-Income Home Energy Assistance Program (LIHEAP), payment arrangements, due date extensions, budget billing, and deposit/late-payment charge waivers. Customers can also use the Smart Assistance Manager (SAM) tool for personalized assistance. Additionally, ComEd offers high-usage alerts, energy-management tips, and the Catch Up and Save program, which provides bill credits and energy-saving kits. The Fresh Start Services and Credit Empowerment initiatives offer personalized support for bill management and credit improvement. Since 2008, ComEd's energy efficiency program has saved customers $9 billion on energy bills and 82 million megawatt-hours of electricity. ComEd, a unit of Exelon (NASDAQ: EXC), serves over 4 million customers in northern Illinois.
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