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.
Delmarva Power warns customers about phantom energy - the power consumed by devices when they appear off but continue drawing electricity. Common sources include smartphone chargers, computers, kitchen appliances, and gaming consoles. To combat this hidden energy drain, the company recommends using power strips with on/off switches, unplugging fully charged devices, switching to LED bulbs that use 75% less energy, and utilizing online energy management tools through My Account. Maryland customers can access Zoe, the Good Energy Guide, while both Delaware and Maryland customers can find energy-saving tips at delmarva.com/WaysToSave.
Exelon (EXC) reported strong Q3 2024 financial results with GAAP net income of $0.70 per share and adjusted operating earnings of $0.71 per share, up from $0.67 in Q3 2023. The company reaffirmed its full-year 2024 adjusted operating earnings guidance of $2.40-$2.50 per share and maintained its 5-7% compound annual growth target through 2027. All utilities achieved top quartile reliability performance, with ComEd and Pepco Holdings in the top decile. The company is investing $34.5 billion in energy infrastructure and declared a quarterly dividend of $0.38 per share.
Exelon (Nasdaq: EXC) has declared a regular quarterly dividend of $0.38 per share, payable on December 13, 2024, to shareholders of record as of November 11, 2024. As the nation's largest utility company and a Fortune 200 member, 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.
ComEd has expanded its fleet EV rebate program to include certified pre-owned and repowered battery electric vehicles for business and public sector customers. The Pre-Owned Electric Fleet Vehicle Rebate offers between $5,000-$180,000 depending on vehicle class and customer location, with higher amounts for low-income or equity-investment eligible communities. The program aims to accelerate EV adoption in northern Illinois, supporting the state's goal of 1 million EVs by 2030. Currently, over 116,000 EVs are registered in Illinois. The initiative is part of a $90 million rebate program launched earlier this year, with more funds available in 2025.
ComEd has secured a $50 million federal grant from the U.S. Department of Energy's GRIP program for grid modernization in Rockford, Illinois. Combined with matching funds from ComEd and partners, the total investment will reach $116 million over 2024-2029. The project will enhance grid resilience, expand clean energy resources, and support workforce development. The initiative includes deploying advanced grid technologies, improving demand-side management, and implementing EV charging solutions. The project aligns with Illinois' Climate and Equitable Jobs Act goals for 100% clean energy by 2050.
ComEd and the Metropolitan Mayors Caucus have announced grants of up to $2,500 each for 24 northern Illinois communities through the annual ComEd Powering the Holidays Program. The program, which has provided $172,000 in funding to 70 communities since its launch in 2021, supports holiday light events that promote cultural exchange and foster inclusivity.
The grants will power holiday light events taking place between November 1, 2024 and February 13, 2025. Recipients include various municipalities across northern Illinois, with events ranging from tree lighting ceremonies to winter wonderland walks. The program aims to create experiences that bring people together and celebrate the unique character of local communities.
ComEd's support extends to popular holiday attractions at Lincoln Park Zoo, Brookfield Zoo, The Morton Arboretum, and Chicago Botanic Garden. The initiative reflects ComEd's ongoing commitment to supporting holiday light events across Chicagoland.
Delmarva Power employees have been recognized for their outstanding volunteer efforts in 2023, contributing over 17,200 hours to support regional organizations. Three exceptional volunteers - Ian Rupert, Katherine Shinski, and Kregg Schaen - were honored with the Exelon Powering Communities Award, each receiving a $5,000 grant to further their work with local organizations.
The awards ceremony took place in Washington, D.C., highlighting the recipients' contributions:
- Ian Rupert: Supports Caroline North Little League
- Katherine Shinski: Volunteers at Tuckahoe Equestrian Center
- Kregg Schaen: Dedicates time to Elkton Community Little League
Tyler Anthony, President and CEO of Pepco Holdings, praised the volunteers for strengthening the company's reputation as a thoughtful community partner and distinguishing it from other local business leaders.
Exelon Corp. (Nasdaq: EXC) has announced the promotion of Cynthia McCabe to senior vice president, chief of staff and chief communications officer, effective Nov. 1, 2024. McCabe will oversee communications and marketing across Exelon and its six local energy companies, including external and employee communications, reputation initiatives, branding, advertising, and social media. She will also become a member of Exelon's Executive Committee.
McCabe joined Exelon in 2017 and has held various communications roles within the company. Prior to Exelon, she worked in communications at AFSCME and the National Education Association, and began her career as a reporter. Exelon, a Fortune 200 company, is the nation's largest utility company, serving more than 10.6 million customers through six regulated transmission and distribution utilities.
Delmarva Power is partnering with the University of Delaware and Exelon to promote Electric Vehicle (EV) adoption and demonstrate how EVs can strengthen the electric grid. The initiative aims to showcase the benefits of EVs, including:
- Cost-effectiveness: EV operation can be three to five times cheaper than gasoline and diesel-powered cars
- Improved driving experience: EVs deliver a quiet, smooth ride
- Lower maintenance requirements
- Potential to utilize stored power during high demand periods
Delmarva Power is committed to electrifying their fleet and expanding charger access across the region to facilitate widespread EV adoption. This effort is expected to make clean energy more accessible and contribute to a more reliable energy infrastructure.
Delmarva Power is highlighting its partnership with Historical Black Colleges and Universities (HBCUs) during HBCU Week. The company works closely with University of Maryland Eastern Shore (UMES) and Delaware State University (DSU) to provide programming, financial support, and career opportunities for students.
Key aspects of the partnership include:
- Power Scholar programs offering scholarships, internships, and mentorship
- Campus events to promote energy industry job opportunities
- Summer internships to help students transition into the workforce
- Funding for university improvements and program expansion
- The Delmarva Power Golf Scholarship Classic, which has raised over $100,000 annually for local universities in recent years
The partnership aims to build a diverse energy workforce of the future, providing students with access to careers in the energy sector while benefiting Delmarva Power with well-educated, diverse talent.