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 announces customers have saved $9 billion in energy costs through its Energy Efficiency program. The program received the ENERGY STAR Partner of the Year Award for the 12th year in a row. The program helped customers save $9 billion, reduced carbon emissions, and received recognition from the EPA.
Delmarva Power's commitment to community impact shines as they contributed over $2.3 million and more than 17,200 volunteer hours with local nonprofits in 2023. The company's dedication to empowering communities goes beyond delivering energy services, with various initiatives and partnerships supporting workforce development, education, environmental conservation, and more. Delmarva Power's involvement in National Volunteer Month highlights their ongoing efforts to make a positive difference in the communities they serve.
ComEd announced the addition of two all-electric bucket trucks to its fleet as part of its commitment to electrify 50% of its vehicles and reduce emissions by 50% by 2030. The initiative is aligned with the Exelon-wide climate initiative, Path to Clean. ComEd is on track to convert half of its fleet to electric vehicles and has already added 500 charging stations in northern Illinois. The new trucks sourced through Altec are powered by a single-battery system providing 135 miles of range and will support operations during the storm season.
Julia Reilly, a senior legal analyst, is honored for her volunteer work with the Fair Hill Emergency Response Team (FHERT) in Northern Maryland. She received Exelon's Powering Communities Employee Volunteer award and a $5,000 grant for her dedication to large animal rescue. Julia's passion for horses and community involvement has had a significant impact on the organization and the local horse community.
Exelon (Nasdaq: EXC) reported a GAAP Net Income of $0.66 per share and Adjusted Operating Earnings of $0.68 per share for the first quarter of 2024. The company affirmed its full-year 2024 Adjusted Operating Earnings guidance range of $2.40-$2.50 per share and reaffirmed its fully regulated operating EPS growth target of 5-7% from 2023 to 2027. Exelon achieved top reliability performance at all utilities and made progress on regulatory fronts. Despite challenges like mild weather and storms, Exelon maintains strong operational performance and projects annualized EPS growth of 5-7% through 2027.
ComEd, in partnership with YMCA of Metro Chicago and Goodwill, brings back the CONSTRUCT Infrastructure Youth Academy for high school students interested in construction and energy careers. The program offers paid summer exposure, community service projects, drone-flying demos, and more, aiming to prepare youth for the clean energy sector. ComEd's commitment to creating career pathways aligns with the expected 150,000 clean energy jobs in Illinois by 2050. Interested students can apply until May 31, with classes starting in June and July at various locations across Chicagoland.
Resideo Technologies (NYSE: REZI) and Baltimore Gas and Electric (BGE) have announced a partnership to expand BGE's Connected Rewards program in Maryland, aiming to balance the grid during peak demand periods and provide energy savings to customers. The program allows customers to reduce overall electricity demand during peak times, receiving financial incentives for enrolling their smart thermostats. Resideo's expertise in energy management and grid reliability will help BGE in maintaining grid stability and achieving cost savings for customers.
Exelon declared a regular quarterly dividend of $0.38 per share on Exelon’s common stock, payable on June 14, 2024, to shareholders of record as of May 13, 2024. Exelon is a Fortune 250 company, the nation’s largest utility company serving 10.6 million customers through six fully regulated utilities.
Exelon's teams have been awarded the EPRI Technology Transfer Awards for innovative energy solutions, showcasing the company's commitment to sustainable energy. The awards recognize projects incorporating cutting-edge research to enhance the delivery of safe, reliable, and affordable power. Teams focused on DER network gateways, fleet electrification planning, and RF monitoring for wind mitigation. Exelon's dedication to advancing the energy sector is highlighted through these achievements.
Summary not available.