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 and the Metropolitan Mayors Caucus have recognized 12 northern Illinois communities for completing the EV Readiness Program. This initiative helps local governments prepare for the growing adoption of electric vehicles (EVs) and related infrastructure. The program, launched in 2022, supports municipalities in developing permitting, safety plans, and community engagement strategies to make EV use accessible to all.
The graduating communities range from large urban cities to suburban areas, representing diverse regions. They have achieved Bronze level designation by completing 16 requirements and earning 30 additional points on the EV Readiness Checklist. Glencoe upgraded to Silver status by pursuing additional actions, including participating in ComEd's Fleet Electrification Assessment.
This initiative aligns with Illinois' goal of having 1 million EVs on the road by 2030, as set by the Climate and Equitable Jobs Act (CEJA). ComEd is also offering over $90 million in EV rebate funding to support residential, business, and public sector customers in expanding EV use and infrastructure.
Delmarva Power volunteers recently contributed their time and effort to enhance the Habitat for Humanity ReStore in New Castle County. The team focused on organizing the warehouse and sales floor to improve customer flow and overall shopping experience. This initiative is important as the ReStore's revenue directly funds Habitat for Humanity's home-building projects for families in need.
By improving the store's layout and efficiency, the volunteers aim to boost sales and support community growth. The experience was described as rewarding, highlighting the meaningful connection between volunteer work and the organization's mission. This effort demonstrates Delmarva Power's commitment to fostering community well-being and supporting vital causes in New Castle County.
ComEd and the Metropolitan Mayors Caucus (MMC) have announced the recipients of the 2024 Powering Safe Communities grant program, awarding over $185,000 in grants across ComEd's northern Illinois service territory. The program, now in its tenth year, has awarded over 200 grants totaling nearly $2 million since 2015.
This year's grants, worth up to $10,000 each, support municipal public safety and clean energy initiatives, focusing on electrification projects that can reduce carbon emissions, improve public health outcomes, and advance community resiliency. Common projects among recipients include purchasing solar-powered radar speed signs, electric vehicles (EVs) and bicycles for public safety use, and EV charging stations for municipal and public use.
The initiative aligns with ComEd's broader efforts to promote equitable EV adoption and sustainable community practices, supporting Illinois' goal of getting 1 million EVs on the road by 2030.
Delmarva Power recently participated in the Cradles to Crayons Backpack-A-Thon in Wilmington, Delaware, where volunteers packed backpacks with essential school supplies for local children. This event aims to provide equitable access to educational tools for families facing financial barriers. The initiative not only supplies items like notebooks and pencils but also alleviates financial burdens on families, allowing them to focus on other important aspects of their lives.
The Backpack-A-Thon demonstrates a community-driven effort to support young students and their educational journeys. Delmarva Power expressed gratitude to their volunteers and Cradles to Crayons Philadelphia for their commitment to making a positive impact on children's lives through this initiative.
Delmarva Power's summer internship program offers students hands-on experience in the utility industry. Matthew Sweeney, a rising senior studying advertising and digital marketing, interned with the Construction and Maintenance department. His projects included organizing job applications and hosting a beach clean-up event. Matthew also took initiative to work on communications projects and shadow a senior marketing specialist.
Through the internship, Matthew gained knowledge about the local energy grid and Delmarva Power's operations. He pushed himself to network, connecting with various employees and departments. Matthew described the experience as incredibly rewarding, praising the program organizers and expressing hope for future opportunities with the company.
ComEd, a unit of Exelon (NASDAQ: EXC), has appointed two new independent directors to its board: Elizabeth "Liz" Buchanan, 39, president of NielsenIQ, North America, and Stephen "Biff" Bowman, 61, retired CFO of The Northern Trust Company. This expansion brings the total number of board members to seven, including five independent directors.
Buchanan, recognized for her expertise in data and analytics, and Bowman, with his extensive financial services background, join existing independent directors Ricardo Estrada, Zaldwaynaka Scott, and Smita Shah. ComEd CEO Gil Quiniones emphasized that these appointments will enhance the company's service to over 9 million customers and support its clean energy transition efforts in northern Illinois.
Exelon (Nasdaq: EXC) reported strong second-quarter 2024 results, with GAAP net income of $0.45 per share and Adjusted (non-GAAP) operating earnings of $0.47 per share. This represents an increase from $0.34 and $0.41 per share, respectively, in Q2 2023. The company reaffirmed its full-year 2024 Adjusted operating earnings guidance of $2.40-$2.50 per share and its 5-7% EPS growth target through 2027.
Key highlights include:
- Top quartile reliability performance across all utilities
- Increased revenue from customer investments
- Disciplined cost management
- Favorable weather conditions
- Progress on active rate cases
ComEd, BGE, and PHI saw increased earnings, while PECO experienced a slight decrease due to higher expenses.
Exelon (Nasdaq: EXC), the nation's largest utility company, has declared a regular quarterly dividend of $0.38 per share on its common stock. The dividend is payable on September 13, 2024, to shareholders of record as of the close of business on August 12, 2024. Exelon serves over 10.5 million customers through six regulated transmission and distribution utilities: Atlantic City Electric, Baltimore Gas and Electric, Commonwealth Edison, Delmarva Power & Light, PECO Energy Company, and Potomac Electric Power Company. With 20,000 employees, Exelon focuses on reliable and affordable energy delivery, workforce development, equity, economic development, and volunteerism in its communities.
ComEd, in partnership with the YMCA of Metropolitan Chicago and Goodwill Greater Milwaukee & Chicago, celebrated the graduation of 89 teens from the CONSTRUCT Youth Academy summer job training program. This initiative, now in its second year, prepares local youth for careers in the clean energy and construction fields. The program expanded to five sites in Chicago, including a new location in Palatine, significantly increasing participation from 21 last year.
The three-week program offers high school juniors and seniors insights into various energy sector careers, from entry-level positions to STEM and engineering roles. Participants connect with industry leaders, visit ComEd facilities, and receive demonstrations on cutting-edge technologies. Over 95% of participants are people of color, and 25% are girls, reflecting the diversity of ComEd's service area.
Pepco Holdings hosted the FUEL Engineer Fair at the Chase Center in Wilmington, DE, focusing on the theme 'Utility of the Future'. The event provided engineers with networking opportunities and a platform to showcase innovative projects. Tyler Anthony, President & CEO of Pepco Holdings, emphasized the importance of engineers in ensuring flawless day-to-day operations and finding smarter ways to serve customers.
The fair featured breakout sessions and booth displays highlighting how Pepco Holdings is challenging the status quo and preparing for future leadership in the utility sector. This event underscores the company's commitment to innovation and forward-thinking in the rapidly evolving energy industry.
FAQ
What is the current stock price of Exelon (EXC)?
What is the market cap of Exelon (EXC)?
