Exelon Stock Price, News & Analysis

The Create a Spark program, initiated by ComEd and HFS Chicago Scholars, celebrates its fifth year, graduating its second class. This four-year curriculum aims to train high-achieving Chicago high school students in energy, climate change, and renewables. Currently, 37 juniors and 46 seniors are involved, with 100% of the 2022 graduates attending college, and 60% pursuing STEM degrees. Students completed community outreach projects and designed energy-efficient model homes. The program prepares future clean energy professionals and emphasizes mentorship to encourage STEM careers.

Exelon (Nasdaq: EXC) and the Exelon Foundation are awarding $868,000 in grants to 27 schools and nonprofits across Delaware, Illinois, Maryland, Pennsylvania, and the District of Columbia. These Green Lab Grants aim to enhance STEM education, allowing students to acquire skills vital for future careers in science, technology, engineering, and mathematics. Each grant can be up to $50,000 and supports educational initiatives that prepare students for family-sustaining jobs.

ComEd, in collaboration with the Metropolitan Mayors Caucus, has launched the inaugural EV Readiness Program aimed at helping local governments prepare for the growing demand for electric vehicles (EVs) and charging infrastructure. Funded partially by a $225,000 commitment from ComEd, the program will assist communities in developing policies and best practices for EV adoption. The initiative aligns with Illinois' goal of having 1 million EVs on the road by 2030, contributing to environmental sustainability and improved air quality.

ComEd is testing battery energy storage systems (BESS) to enhance power resiliency for rural customers in Streator, Lostant, and Milledgeville, Illinois. This initiative aims to mitigate power outages by utilizing localized batteries, allowing homes to maintain energy during grid failures. The demonstration includes batteries from Sunverge Energy and Mesa Technical Associates, supporting 23 homes for up to 8 hours. Since 2011, ComEd's investments have saved over $3 billion and improved reliability for more than 3.6 million customers in 2022.

Exelon plans to invest $29 billion in its energy grid from 2022 to 2025 to enhance reliability and resilience. Its subsidiaries, ComEd and PECO, received recognition from Site Selection magazine as top U.S. utilities for economic development, contributing $3 billion and $3.1 billion respectively to local investments and creating 4,700 and 4,500 jobs. These investments support infrastructure improvements, including substations and enhancements for sectors like data centers and life sciences.

ComEd reported that its average monthly customer bill in Q4 2022 was lower than in 49 out of 50 U.S. states, according to the U.S. EIA. Illinois holds the lowest average bill in the Midwest for a decade. Despite inflation, ComEd maintains competitive rates and strong reliability performance, with an improvement of 82% compared to pre-smart grid investment years. The company’s clean energy generation meets 95% of customer demand. ComEd is a unit of Exelon Corporation (NASDAQ: EXC), serving over 4 million customers in northern Illinois.

ComEd reported outstanding reliability performance for 2022, with fewer power outages than any comparable electric company for the fifth consecutive year. Customers experienced faster service restoration, and reliability improved by 82% since smart grid enhancements began in 2012. Over 3.6 million customers had minimal outages in 2022, avoiding nearly 19 million outages, resulting in savings of over $3 billion. Additionally, ComEd's average residential bill remains lower than that of 49 other states, contributing to its reputation for low-cost, reliable service.

ComEd warns customers about an increase in utility scams as Utility Scam Awareness Day approaches on November 16. Impersonators may call or visit pretending to be ComEd employees, demanding immediate payment or personal information. ComEd emphasizes that they will never ask for direct payment via cash cards or third-party apps, nor will they demand immediate payment or personal details. The utility company provides payment assistance programs for those struggling with bills and encourages customers to verify employees by contacting ComEd directly if unsure about their identity.