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.
Exelon Corp (Nasdaq: EXC) has appointed Marie Sylla Dixon as Senior Vice President of Federal Affairs. With over 20 years of experience in regulated industries, Sylla Dixon will oversee all federal-level governmental and regulatory activities for Exelon, the nation's largest utility company. She will play a important role in driving policies and initiatives that promote sustainable and innovative energy solutions.
Sylla Dixon's responsibilities include developing industry policies and providing strategic direction for relationships with key entities such as the U.S. Congress, governmental agencies, and the Federal Energy Regulatory Commission. Her expertise is expected to strengthen Exelon's partnerships with stakeholders to bring about sustainable and equitable solutions for its 10.5 million customers across diverse communities.
ComEd, part of Exelon, has been recognized as a national leader in economic development by Site Selection Magazine, marking its 10th inclusion in the Top 20 utilities list.
ComEd's contributions include securing 15 new commercial projects in 2023, bringing 4,385 jobs and over $8.6 billion in investments to northern Illinois.
Key factors for ComEd's success are its reliable and clean energy infrastructure, which supports major industries like data centers and manufacturing. ComEd's grid improvements have enhanced reliability by over 70%, providing 96% clean energy, with plans to reach 100% through CEJA.
Additionally, ComEd offers competitive energy rates, with industrial bills 44% lower than the national average, enhancing its appeal for new business investments and economic growth in the region.
ComEd presented a $45,000 electric vehicle (EV) rebate to the Village of Skokie, helping fund the electrification of its municipal fleet. This is part of ComEd's beneficial electrification plan, supported by Illinois' Climate and Equitable Jobs Act (CEJA), aimed at accelerating EV adoption. ComEd's EV rebate programs have deployed over $9 million in rebates to date, with half allocated to equity investment eligible communities or low-income customers.
Since February, ComEd has incentivized the addition of over 1,600 new charging ports and 109 new fleet vehicles. The percentage of monthly EV registrations in the region has doubled, outpacing the national rate. Skokie purchased six municipal fleet vehicles with the rebate, aligning with their Environmental Sustainability Plan to reduce carbon emissions.
ComEd has partnered with QUILT, an Illinois nonprofit, to expand affordable high-speed broadband access in Chicago's South and West Sides. QUILT will license reserve fiber optics on ComEd's system, supported by a $14.6 million grant from the Bipartisan Infrastructure Law and U.S. Department of Commerce. This initiative aims to bridge the digital divide in underserved communities, where up to 40% of households lack internet access.
QUILT, led by CEO Dwayne Douglas, will focus on deploying broadband infrastructure in North Lawndale, Woodlawn, and South Shore, offering internet speeds from 100 Mbps to 1 Gbps. The project also includes digital literacy training, workforce development, and job placement services. ComEd's fiber optic investments support grid modernization while creating opportunities for third-party broadband expansion.
Cambium Networks (NASDAQ: CMBM) has announced a strategic collaboration with QUILT, NODE Networks, TMA Technology Solutions, and ComEd to enhance digital equity in underserved communities across Chicago. The initiative, part of QUILT's Broadband Access for Brighter Futures Program, will deploy a 401-mile fiber network across Cook County and Chicago's South and West Sides, benefiting over 440,000 households.
The project will utilize ComEd's middle-mile infrastructure and Cambium Networks' technology, including cnWave 60 GHz, Enterprise Wi-Fi, cnMatrix Ethernet Switches, and XGS PON, to create a cost-effective hybrid-fiber solution. This approach aims to reduce deployment costs, expedite implementation, and significantly close the digital divide in the area.
ComEd is working to restore power to customers affected by severe thunderstorms in northern Illinois. As of 10:30 AM, 87% of the 107,000 impacted customers have been restored. The storms, with winds up to 70 mph, caused significant damage, particularly in Chicago's northern suburbs. Over 400 field crews with 1,500+ personnel are deployed, with 380 more joining later. ComEd expects full restoration by Thursday afternoon.
The company prioritizes critical facilities like hospitals and emergency services. ComEd's recent grid upgrades have improved system reliability by 70%, avoiding 21.7 million outages and saving $3.3 billion in costs. Customers can report outages via ComEd's website, mobile app, or social media platforms.
ComEd and Openlands have awarded $200,000 in Green Region Grants to 23 Illinois communities for environmental projects. The program, now in its 12th year, supports initiatives to preserve nature, combat climate change, and create habitats for pollinators and wildlife. Since 2012, the program has invested over $2.3 million in more than 280 projects, benefiting nearly 1.6 million people across northern Illinois. Projects include converting turf grass to native vegetation, creating pollinator gardens, restoring woodlands, and installing educational signage. The grants, up to $10,000 each, aim to enhance green spaces and promote sustainability in various communities, from Chicago to Rockford.
ComEd, a unit of Exelon (NASDAQ: EXC), has launched its new Electric Vehicle Service Provider (EVSP) Network to support customers transitioning to electric vehicles (EVs). This user-friendly resource helps residential and commercial customers find ICC-certified service providers for installing EV charging infrastructure. The network includes nearly 50 vendors who are familiar with ComEd's rebate programs and can streamline the application process.
ComEd has also introduced $90 million in rebates for EV charging infrastructure and fleet EVs, with over half of the funding reserved for low-income customers and those in equity investment eligible communities. Residential customers meeting income-eligibility guidelines can receive rebates up to $3,750 for Level 2 charger installation. The initiative aims to make EV adoption more affordable and accessible, supporting the growing EV market in Illinois, which has seen registrations increase from 17,000 in 2019 to over 100,000 today.
Exelon (Nasdaq: EXC) has announced its latest investments through the Climate Change Investment Initiative (2c2i). This program, backed by the Exelon Foundation, provides equity investments and in-kind support to innovative companies working on climate change solutions in Exelon's service areas.
The 2024 investments include four companies:
- Metal Light: Developing clean mobile power generation using metal-air generators
- ReVert Technologies: Creating smart IoT solutions for energy savings
- Station A: Building a marketplace for clean energy transactions
- Eion: Offering permanent carbon removal through enhanced rock weathering
These investments aim to drive critical clean energy and climate solutions, with 2c2i companies raising over $266 million in follow-on investments to date.
Exelon (Nasdaq: EXC) and The Exelon Foundation have launched the inaugural Boys to STEM Academy, a free week-long program for high school boys in grades 10 and 11. The Academy, held at the University of Maryland, College Park, focuses on energy, sustainability, and climate change. Sixty students from Exelon's service areas participated in STEM challenges, conversations with industry leaders, and mentoring sessions with Exelon employees.
This initiative complements Exelon's existing STEM Academy for girls, which has reached over 1,200 participants since 2018. The new program aims to address the educational needs of young men and inspire interest in energy careers. Exelon CEO Calvin Butler emphasized the company's commitment to equity in energy and investing in young minds to shape the industry's future.
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