Exelon Stock Price, News & Analysis

ComEd introduces the Smart Assistance Manager (SAM) to support customers in northern Illinois facing economic hardships. This online tool offers various financial assistance programs, ensuring customers can maintain access to safe, reliable electricity. ComEd boasts an average monthly customer bill of $93, among the lowest in the U.S., approximately 20 percent lower than the average in major cities. SAM allows users to access tailored grants and payment options, enhancing customer service amid challenging economic conditions.

Exelon (NASDAQ: EXC) will propose two new Board members, Charisse R. Lillie and Matthew C. Rogers, at the April 25, 2023 Annual Shareholders Meeting. Current board members Paul Joskow, Ann Berzin, and Carlos Gutierrez will depart without seeking re-election. Lillie brings extensive experience in law and corporate governance, while Rogers has a background in sustainability and energy transition. Joskow, Berzin, and Gutierrez contributed significantly during their tenures, particularly during Exelon’s separation from Constellation Energy. The Board emphasizes the need for fresh perspectives in guiding Exelon's clean energy transformation.

FulcrumAir has successfully installed over 1,500 Power Line Sentry Hawk Eye™ Bird Flight Diverters (BFDs) in collaboration with Atlantic City Electric, serving approximately 560,000 customers in southern New Jersey. This initiative aims to mitigate avian mortality and service interruptions caused by bird collisions on transmission lines. The installation process eliminates the need for road closures, bucket trucks, and power outages, enhancing operational efficiency. Atlantic City Electric officials recognized the pilot's success and expressed interest in further installations to support wildlife protection and improve service reliability.

Exelon Corporation (Nasdaq: EXC) reported Q4 2022 GAAP net income of $0.43 per share, up from $0.31 in Q4 2021, and adjusted operating earnings of $0.43 per share. For FY 2022, GAAP net income reached $2.08 per share, increasing from $1.65 in 2021. The company forecasted 2023 adjusted earnings between $2.30 and $2.42 per share. A quarterly dividend of $0.36 was declared, marking a 6.7% increase from the previous quarter. Exelon plans to invest $31 billion over the next four years to support infrastructure and customer needs, anticipating a 7.9% growth in rate base and 6-8% annualized EPS growth from 2022 to 2026.

Constellation Energy Corporation (Nasdaq: CEG) announced a new capability through PJM to provide hourly time-stamped carbon-free energy certificates, aiding customers in demonstrating carbon-free energy use at all times. This enhancement supports Constellation's Hourly Carbon-Free Energy Matching product. This initiative is crucial for businesses, particularly clean hydrogen producers, to meet federal tax credits. By allowing the retirement of energy certificates based on specific hours, the program provides transparency and supports sustainability goals.

ComEd hosted an event during Black History Month, engaging 70 Black high school students in STEM activities to foster career interest in science, technology, engineering, and math fields. The event occurred on February 11 at ComEd’s Chicago North facility, where students built and tested robots with guidance from ComEd engineers and guest speaker Dr. Kate Biberdorf. Each student also received a $250 scholarship. Despite 12% of the U.S. workforce being Black Americans, only 7% are represented in STEM fields. ComEd aims to enhance diversity in STEM through programs like this.

ComEd is showcasing electric vehicles (EVs) at the Chicago Auto Show from Feb. 11-20. The Chicago Drives Electric Track allows attendees to test drive models from brands like BMW, Cadillac, and Nissan, aimed at facilitating the transition to clean transportation. ComEd's commitment includes supporting the state's goal of 1.8 million EVs by 2030 and providing an EV Toolkit that features cost-saving calculators and information on incentives. The initiative aligns with Illinois' Climate and Equitable Jobs Act, aiming for 100% clean energy and 1 million EVs by 2030. The American Lung Association estimates significant savings of $3.2 billion from EV adoption by 2050.

ComEd and Summit Ridge Energy (SRE) have launched the 75th community solar project, the Speedway Solar project in Joliet, Illinois. This 2.495 MW project will serve over 350 customers, providing access to renewable energy and cost savings on energy bills. Featuring over 2,300 solar panels on 31 acres, it aims to assist customers without roof space for solar installation. ComEd plans to double its community solar projects by year-end, serving around 36,000 customers and increasing solar capacity from 650 MW to approximately 3,300 MW by 2030, leveraging a growing trend in solar applications.

ComEd and the City of Chicago have forged two significant agreements—the Energy and Equity Agreement and a new franchise agreement—to support Chicago’s Climate Action Plan. These agreements aim to enhance access to cleaner energy, workforce development, and the promotion of clean transportation.

ComEd will invest $120 million in clean energy initiatives and train over 10,000 residents for careers in the energy sector. A $32.5 million Clean Energy Training Hub will be established, while investments in energy efficiency are expected to save families up to $941 annually. The agreements are pending approval from relevant authorities.