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) generates a steady flow of news as a Fortune 200 utility company and one of the nation’s largest providers of regulated transmission and distribution services. Through its six operating utilities—Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco—Exelon issues updates on customer programs, grid investments, financing activities and regulatory developments that affect more than 10.7 million customers.
News about EXC often covers customer affordability initiatives and assistance programs. Recent announcements include Exelon’s Customer Relief Fund, which has provided $60 million in direct customer assistance over the past year, and an additional $10 million contribution to support customers as winter weather increases energy use. ComEd has also highlighted the launch of a Low-Income Discount program designed to provide percentage-based bill reductions for income-eligible customers, as well as other bill-support and energy efficiency efforts.
Investors and observers can also find coverage of Exelon’s grid and transmission projects. ComEd has reported on new Transmission Security Agreements with large load customers to ensure they pay their fair share of transmission costs, as well as the expansion of the Wilton Center substation to enable the interconnection of multiple wind and solar farms. Exelon has additionally been identified with NextEra Energy Transmission in a proposed 765-kV transmission line project under PJM’s Regional Transmission Expansion Plan.
Other EXC news items include executive leadership changes, such as the appointment of a chief customer and technology officer, and capital markets activity, including the offering and pricing of convertible senior notes due 2029. The Exelon news page on Stock Titan aggregates these updates so readers can follow themes such as customer affordability, infrastructure investment, regulatory disclosures and financing decisions related to EXC.
Exelon has applied for nearly $700 million in funding under the bipartisan Infrastructure Investment and Jobs Act (IIJA) to enhance clean energy infrastructure and grid resilience. This initiative is aimed at benefiting over 10 million customers and advancing equity in clean energy access. The proposed projects include community microgrids, smart meters, and resilience improvements in under-resourced regions such as Baltimore, Chicago, and Washington, D.C. By partnering with over 100 communities and educational institutions, Exelon aims to create more than 7,800 jobs and ensure a decarbonized energy future. The IIJA represents a significant opportunity for infrastructure investment and workforce development in the clean energy sector.
The Board of Directors of Constellation Energy Corporation (Nasdaq: CEG) has declared a quarterly dividend of $0.282 per share on its common stock. This dividend will be payable on June 9, 2023, to shareholders recorded by 5 p.m. Eastern time on May 12, 2023. Constellation is recognized as the largest producer of clean, carbon-free energy in the U.S., generating nearly 90% of its output from carbon-free sources. The company supports sustainability goals and aims for 100% carbon-free generation by 2040, contributing significantly to the nation's clean energy supply, which powers approximately 15 million homes.
The Board of Directors of Exelon Corporation has declared a quarterly dividend of $0.36 per share on its common stock. This dividend is set to be paid on June 9, 2023, to shareholders on record as of May 15, 2023. Exelon serves over 10 million customers across six regulated utilities, demonstrating its commitment to reliable energy delivery and community support.
As the largest utility company in the nation, Exelon remains focused on enhancing its operational efficiency and community engagement through workforce development and volunteer initiatives.
ComEd is organizing its fifth statewide drill, Operation Power Play, to enhance emergency response collaboration among 50 public and private agencies in Illinois. This unique two-day event aims to prepare for severe weather and security threats by simulating significant emergency scenarios. Participating entities include local government agencies and utilities, with coordinated efforts to increase readiness for potential disasters.
The drill will showcase emergency response equipment and involve scenarios such as substation sabotage and power outages. ComEd is also piloting a program to deploy generators to nursing homes during severe weather recovery.
Downers Grove District 58 has identified opportunities to reduce electricity consumption by 34 percent across its facilities through a recent assessment. This initiative is projected to save nearly $40,000 annually in energy costs. The assessment was facilitated by ComEd's Public Schools Carbon-Free Assessment, aimed at reducing carbon emissions and enhancing sustainability. If the district invests in solar panels, it could yield an additional $5.8 million in savings and qualify for $8.6 million in state grants. ComEd emphasizes its commitment to assisting schools in minimizing carbon footprints, conserving energy, and reallocating funds to enhance educational priorities.
ComEd and Summit Ridge Energy announced the completion of three community solar projects in Streator, Illinois, marking the 80th community solar project in ComEd’s service area. These projects involve over 16,700 solar panels across 38 acres, generating about six megawatts of clean energy to service approximately 1,000 to 1,200 homes. With this milestone, ComEd aims to double its community solar projects to over 150 by the end of 2023, benefiting around 36,000 customers. The initiatives align with Illinois’ goal of achieving 40% renewable energy by 2030 under the Climate and Equitable Jobs Act.
Summit Ridge Energy, the largest commercial solar developer in Illinois, plans to complete over 50 more community solar projects in the region by year-end.
ComEd, a subsidiary of Exelon Corporation (NASDAQ: EXC), has awarded a total of $100 million in rebates for rooftop solar installations to industrial, commercial, and institutional customers, including St. Paul Lutheran Church and School, which received $27,580.70. The distributed generation (DG) rebate program aims to lower upfront solar installation costs and promote renewable energy in northern Illinois.
With 226 solar panels generating approximately 91.9 kW of clean energy, the church’s initiative is part of a broader commitment to sustainability. ComEd anticipates that solar capacity on its grid will increase from 650 MW to 3,300 MW by 2030, reflecting a strong growth in solar applications. The program offers rebates of $250 or $300 per kW of capacity, encouraging increased adoption of solar technologies.
ComEd has launched its Power of STEM education program, engaging 25 fifth-grade students from James R. Doolittle Elementary School in Chicago. This initiative emphasizes hands-on learning about electricity, solar energy, and microgrid technology, aimed at cultivating future leaders in the energy sector. The program, running since 2022, has reached 250 students across 10 schools. During the sessions, students worked with ComEd engineering mentors to explore careers in electric power and address climate change challenges. Schools interested in the program can contact ComEd for details. ComEd actively supports STEM education, particularly for women and students of color, through various initiatives.
On May 13, 2023, ComEd and the Chicago Park District will host the ninth annual Switch on Summer festival at Grant Park. This free event will run from 12 p.m. to 3 p.m. and feature entertainment, local arts organizations, and information on summer programs. Attendees can participate in a sweepstakes to win the opportunity to switch on Buckingham Fountain. The event will also include activities hosted by various cultural partners and food vendors. Thousands of people are expected to attend, marking the unofficial start of summer in Chicago.
ComEd is launching its annual EV Rally summer program aimed at empowering young women in STEM fields. This year, participant capacity increases by 50%, allowing 45 students to engage with female mentors and build electric-powered go-carts. Each participant will receive a $2,000 scholarship upon completion, culminating in a race event at the Museum of Science and Industry in Chicago on July 29. The initiative focuses on improving diversity in STEM, particularly among women and individuals from equity investment eligible communities in Illinois, where women occupy only 27% of STEM jobs. Applications for the program are open until June 1 for female-identifying residents aged 13-18.