Exelon Stock Price, News & Analysis

ComEd has successfully restored power to about 204,700 customers, representing over 88% of those affected by severe ice storms in northern Illinois. Approximately 231,000 customers experienced outages as a result of the storm, which inflicted significant damage due to ice and high winds. Nearly 2,200 crew members, including 900 from other utilities, are working tirelessly on restoration efforts. Despite substantial progress, around 26,000 customers remain without power, with some outages expected to last until Feb. 25. ComEd's ongoing investments in grid upgrades have significantly improved reliability, preventing over 19 million outages since 2011.

ComEd has restored power to nearly 134,000 customers in northern Illinois following severe ice storms that impacted approximately 216,000 customers. Nearly 1,700 crews are working continuously, with support from 900 additional utility workers. Power restoration is projected to reach 80% by 11 p.m. on February 23, 2023, though some outages may last until late February 25 or early February 26. ComEd emphasized their ongoing investments in grid upgrades, which have helped avoid over 19 million outages since 2011, saving $3.3 billion in costs. The company prioritizes critical services during repairs, reflecting its commitment to customer safety.

Constellation Energy (Nasdaq: CEG) successfully operated its nuclear plants at full capacity during Winter Storm Elliott, crucially preventing rolling blackouts amid the storm that left nearly a quarter of the PJM energy grid offline on Christmas Eve. As PJM faces up to $2 billion in penalties for non-performing generators, Constellation’s facilities underscore the reliability and carbon-free advantages of nuclear energy. The storm highlighted flaws in PJM's capacity performance policies, raising concerns about the future reliability of the grid amidst climate risks. Constellation calls for improved reliability measures to secure energy supply effectively.

ComEd has restored power to over 55,000 customers following severe ice storms that struck northern Illinois, with approximately 100,000 remaining without electricity as of 8 PM. Crews are working around the clock under challenging conditions to restore service. High winds are anticipated to further complicate recovery efforts, extending the restoration timeline to multiple days. ComEd is actively bringing in additional crews from other states to expedite repairs. The company has prioritized restoring power to critical services and has made significant investments in grid upgrades that have improved reliability by over 80% since 2011, avoiding over 19 million outages.

Constellation (Nasdaq: CEG) will invest $800 million to enhance output at its Braidwood and Byron nuclear plants in Illinois, increasing capacity by approximately 135 megawatts. This enhancement will provide enough carbon-free energy to power 100,000 homes year-round, akin to removing 171,000 gas vehicles from the road. The projects, expected to boost output by 2026 fully by 2029, will create jobs for thousands and reflect the impact of recent supportive policies like the Inflation Reduction Act. Constellation aims for 100% carbon-free generation by 2040.

ComEd announces the return of its annual STEM program aimed at supporting young women in Illinois. The ComEd EV Rally is set for summer 2023, with applications open until June 1. This year, participation increases to 45 from 30, allowing participants to build and race electric-powered go-carts. Each participant will receive a $2,000 scholarship upon program completion. This initiative is part of ComEd's commitment to enhance representation of women in STEM fields and support clean energy technology.

Exelon (Nasdaq: EXC) joined advocates in Washington, D.C., stressing the importance of funding the Low-Income Home Energy Assistance Program (LIHEAP) for vulnerable households. CEO Calvin Butler emphasized that LIHEAP serves as a lifeline for low-income customers, with Exelon connecting over 1 million eligible customers to more than $1 billion in energy assistance in the past two years. In 2022, the company helped nearly 470,000 customers access $589.2 million in aid, with 64% from LIHEAP. Exelon’s initiatives include advocacy for policy changes, job creation for local residents, and community outreach to enhance energy affordability.

ComEd has awarded over $350,000 in scholarships to 69 diverse students aspiring to pursue energy careers through its Future of Energy Scholars Program since its launch in 2022. The latest recipients include seven students receiving up to $10,000 each. Applications for the next round are open until March 31, 2023. The program aims to cultivate an inclusive workforce as Illinois transitions to a clean energy future, projected to create tens of thousands of jobs. ComEd is partnering with the National Energy Education Development Project to administer the scholarships.