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.
Exelon (Nasdaq: EXC) announced leadership changes effective January 1, with Gayle Littleton stepping down as Executive Vice President, Chief Legal Officer and Corporate Secretary. Colette Honorable, currently Executive VP of Public Policy and Chief External Affairs Officer, will assume the role of Chief Legal Officer and Corporate Secretary while maintaining her current responsibilities for federal policy, regulatory affairs, and corporate giving.
Honorable, who joined Exelon in 2023, brings extensive experience including serving as a FERC Commissioner and chairman of the Arkansas Public Service Commission. She previously was a partner at Reed Smith LLP, where she provided strategic counsel to energy companies on various matters including climate change and environmental justice.
Delmarva Power's Gas Operations team continued its 30-year Thanksgiving tradition of community support through fundraising initiatives. The team organized events like pie-throwing contests and dunk tanks to raise funds for holiday meal donations. Their efforts resulted in the distribution of 360 turkeys and 148 Cornish hens to 14 different agencies, including senior centers, churches, and community centers, ensuring timely delivery before Thanksgiving.
Delmarva Power and Delaware Nature Society have awarded $40,000 in Sustainable Community Grants to five local organizations for environmental and community development projects. The grants support initiatives focusing on reforestation, sustainable transportation, affordable housing, and composting programs across Delaware and Maryland. Recipients include Delaware Wild Lands ($10,000), Plastic Free Delaware ($5,000), Milford Housing Development ($10,000), Urban Bike Project of Wilmington ($10,000), and Whitehall Community Garden Association ($5,000). This initiative is part of Delmarva Power's broader commitment to supporting clean energy goals and reducing greenhouse gas emissions, aligning with parent company Exelon's Path to Clean goal of 50% emissions reduction by 2030.
ComEd, Nicor Gas, Peoples Gas, and North Shore Gas have joined the Better Business Bureau (BBB) of Chicago and Northern Illinois to warn customers about increased utility scams during the holiday season. Scammers are using new tactics, including QR codes, mobile banking apps, and posing as bill-management companies. They often threaten service disconnection and demand immediate payments. The companies emphasize that they never use aggressive tactics, demand immediate payment, or request personal information like Social Security numbers. Customers are advised to verify representative identities and contact utilities through official channels if suspicious.
ComEd celebrated its newest Power Up Academy graduating class and announced the program's accreditation through City Colleges of Chicago. The 14-week career training program now offers participants up to 13 college credit hours, equivalent to a semester's coursework. The latest class of 9 graduates reflects diversity with 90% people of color and 80% female representation.
The academy, launched last year in partnership with Revolution Workshop and local engineering firms, removes barriers to engineering careers by eliminating the upfront college degree requirement. The program boasts an 80% job placement rate, with graduates joining ComEd or sponsor companies. Participants gain industry knowledge, project management skills, and AutoCAD proficiency, preparing them for the growing clean energy sector that could bring 150,000 jobs to Illinois by 2050.
ComEd has received two prestigious 2024 ReliabilityOne® awards from PA Consulting: Outstanding Reliability Performance in the Midwest Metropolitan Service Area and Outstanding Climate Action Leader. The company has improved overall reliability by more than 70% since 2012, helping customers avoid 21.7 million interruptions and save $3.8 billion in outage-related costs.
The utility is advancing clean energy initiatives with over 1,120 MW of distributed energy resources currently interconnected, expecting to reach 1,900 MW by 2025. ComEd supports Illinois' goal of 1 million electric vehicles by 2030, with over 116,000 EVs currently registered in the state. These achievements align with Illinois' Climate and Equitable Jobs Act (CEJA) goals for a cleaner energy future.
Delmarva Power hosted a Careers in Energy Week Expo attended by over 200 middle and high school students from New Castle County. Students from various schools participated in interactive exhibits featuring a Virtual Reality Module, Electric Operations, Gas Operations, and Environmental Management. The event, part of an industry-wide initiative, aimed to showcase career opportunities in the energy sector and inspire future energy professionals through hands-on experiences.
ComEd has enhanced its hosting capacity map for solar developers, now providing monthly updates with near real-time data. The company received 2,250 new interconnection applications in October, marking the seventh consecutive month with over 2,000 applications. The total for 2023 reached 21,952 applications, an all-time high. ComEd completed 1,976 Distributed Energy Resource systems in October, adding 42 megawatts of generation capacity. Currently, there are approximately 1,160 MW of DER connected to ComEd's system, with projections to reach 2,700 MW by 2030. The company has paid over $48 million in DG rebates this year and expects to pay more than $60 million in 2024.
ComEd, a unit of Exelon (NASDAQ: EXC), received two prestigious Leaders of the Pack awards from the American Council for an Energy-Efficient Economy (ACEEE) for its energy efficiency programs. The recognized programs include Home Energy Savings (HES) and Strategic Energy Management (SEM). Since 2008, ComEd's Energy Efficiency Program has helped customers save over $9 billion in energy bills and 82 million net megawatt-hours of electricity. In 2023, HES helped customers save 10 gigawatt hours of electricity and 1.5 million therms of gas, while SEM enabled 57 industrial facilities to save nearly 30 million kilowatt-hours of electricity.
Delmarva Power and The Cal Ripken, Sr. Foundation have opened a new STEM Center at Academia Antonia Alonso Charter School in Newark, Delaware. The center features advanced technology for coding and robotics, providing students with hands-on learning experiences. The initiative is part of Delmarva Power and The Exelon Foundation's broader mission to develop future innovators. La Academia, a KN-8th Grade charter school focusing on bilingual education, also received donations of school supplies, backpacks, and uniforms. The project aims to prepare students for future careers in the utility industry through practical STEM education.