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) reports developments across a regulated electric and gas utility portfolio anchored by Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco. Recurring company news covers utility earnings drivers, approved distribution and transmission rates, grid investment recovery, dividend declarations and customer-affordability initiatives under The Exelon Promise.
Coverage also reflects ComEd energy efficiency programs in northern Illinois, small-business and low-income customer incentives, Illinois Commerce Commission reconciliation filings, and federal policy matters involving FERC and the PJM regional electric grid. These updates connect Exelon's transmission and distribution operations with customer costs, reliability planning and regulated rate mechanisms.
ComEd, a unit of Exelon (NASDAQ: EXC), has received two Emergency Response Awards from the Edison Electric Institute (EEI). The first award recognizes ComEd's recovery efforts following severe storms in northern Illinois in July 2024, where they restored service to 99% of 430,000+ affected customers within three days despite 40+ tornadoes. The second award acknowledges their assistance in restoring power across four southern states following Hurricanes Helene and Milton, where 340+ employees traveled 512,000 miles to restore service to 12,600+ customers over 24 days.
Additionally, ComEd received the 2024 ReliabilityOne® award for Outstanding Reliability Performance in the Midwest Metropolitan Service Area and the Climate Action Leader award for advancing clean grid transition efforts. ComEd serves over 4 million customers across northern Illinois, representing 70% of the state's population.
ComEd and Nicor Gas have joined forces to provide advanced energy efficiency certifications to graduates of their Market Development Initiative (MDI) programs. The collaboration focuses on offering Building Performance Institute (BPI) certifications to enhance the capabilities of local and diverse contractors in the energy efficiency industry.
The program enables home performance professionals to conduct energy modeling, building analysis, and data evaluation services, strengthening their ability to provide comprehensive improvement recommendations. In December, 22 MDI graduates participated in training sessions in Chicago and Carol Stream, Illinois, working toward the Building Professional (BA-P) credential through a four-day intensive program.
Eligible participants are those who previously obtained BPI certifications in Building Science Principles (BSP) and Building Analyst Technician (BA-T) through the utilities' MDI programs.
On December 23, 2024, Delmarva Power organized a holiday charity event at John Parsons Assisted Living in Salisbury, MD, through their Santas for Seniors project. The initiative involved 18 company volunteers who delivered gifts to 34 seniors, including cozy throws, candy, puzzles, and night lights based on residents' wish lists. The event featured Santa (played by Craig Jarvis), the Grinch, and company 'elves' who engaged with residents through carol singing and created memorable interactions.
ComEd, a unit of Exelon (NASDAQ: EXC), received approval from the Illinois Commerce Commission (ICC) for its refiled grid plan in March 2024. The plan, which runs through 2027, includes $4.4 billion in investments with projected benefits valued at over $7 billion. The approved plan will increase average residential monthly bills by $1.84 annually from 2025 through 2027, with current monthly bills averaging $100.
The plan focuses on system reliability improvements, renewable energy growth, and alignment with the Illinois Climate and Equitable Jobs Act (CEJA). ComEd's rates remain significantly below major metropolitan averages, with residential rates 22% lower, commercial rates 21% lower, and industrial rates 38% lower than comparable markets. The company also proposed a Low-Income Discount program, pending ICC approval in 2025.
Delmarva Power, a unit of Exelon (EXC), announced its winter preparedness initiatives, including a $2.7 billion investment in infrastructure improvements over the next five years. The company is focusing on grid reliability enhancements, equipment upgrades, tree trimming, and smart technology integration to handle severe weather and increasing customer demand.
The company is implementing an Assistance Finder tool to help customers access various support programs, including financial assistance and energy efficiency options. Delmarva Power serves approximately 561,500 electric customers in Delaware and Maryland and 140,000 natural gas customers in northern Delaware.
Delmarva Power has released essential holiday lighting safety guidelines for the 2024 festive season. The advisory emphasizes checking decorative lights for damage, using energy-efficient products, and following manufacturer guidelines for string connections. Key recommendations include: limiting incandescent light connections to three strings, maintaining a 10-foot distance from power lines when decorating, and ensuring outdoor-specific lights are used for exterior decorations. The guidelines also stress keeping decorations 3 feet away from heating equipment and using battery-operated candles when possible.
ComEd and Ameresco have inaugurated their 160th community solar project in northern Illinois, located at a former landfill in Belvidere. The project features two solar arrays spanning 34 acres with over 9,600 solar modules, generating 3.5 megawatts (MW) of power. Boone County is subscribing to 36% of the generated energy for its public facilities, while various commercial customers make up the remaining subscribers.
The project allows subscribers to earn credits on their electric bills and potentially reduce electricity costs by up to 10% annually. As part of Illinois' Climate and Equitable Jobs Act (CEJA), the project supports the state's goal of reaching 40% renewable energy by 2030 and 50% by 2040. The installation is particularly significant as Belvidere is an Equity Investment Eligible Community (EIEC), promoting workforce inclusion from equity eligible individuals.
ComEd has commissioned a new battery energy storage system in Rockford as part of a $6.5 million solar and battery project, partially funded by the DOE ENERGISE program. The project combines the battery system with existing solar panels at Prairie Street Brewing Company to research distributed energy resource management systems.
The initiative, supported by $3.2 million in DOE grants and $3.3 million from ComEd and partners, aims to test renewable smoothing techniques and explore the scalability of solar and battery solutions. The battery commissioning is scheduled for December 2024, with testing running through January 2025.
ComEd has already interconnected more than 1 gigawatt of distributed energy resource capacity, including 57,780 residential rooftop solar systems, 1,582 commercial solar systems, and 150 community solar projects. This project supports Illinois' goal of 100% clean energy by 2050.
ComEd, a unit of Exelon (NASDAQ: EXC), is offering energy-saving tips through their Energy Doctors program to help customers manage energy costs during cold weather months. The initiative provides free energy assessments, personalized recommendations, and access to rebates and discounts on energy-efficient appliances.
Since 2008, ComEd's Energy Efficiency Program has helped customers save over $9 billion on energy bills and reduced electricity consumption by more than 82 million megawatt-hours, preventing nearly 60 billion pounds of carbon emissions. The company recently received a 2024 ReliabilityOne® award for Outstanding Reliability Performance in the Midwest Metropolitan Service Area.
ComEd and the Metropolitan Mayors Caucus announced the third cohort of 20 communities joining the EV Readiness Program, an initiative helping local governments prepare for increasing electric vehicle (EV) demand. The program provides technical assistance for streamlining policies and implementing best practices for regional transportation electrification.
EVs in Illinois have more than doubled from 53,000 in 2022 to over 119,000 today, with the majority in northern Illinois. The program has reached 41 communities and continues expanding through ComEd's investments in beneficial electrification. ComEd has made nearly $90 million available in funding for EV projects, resulting in over 3,000 charging ports and 150 fleet vehicles across 300 unique zip codes.