Exelon Stock Price, News & Analysis

Exelon (Nasdaq: EXC) has been awarded the Chairman’s Award by the Center for Energy Workforce Development for its exceptional leadership in workforce development, focusing on diversity, equity, and innovation. The company operates over 75 workforce programs, helping more than 1,300 individuals secure family-supporting jobs since 2019. This year, Exelon plans to invest approximately $14 million in these initiatives. ComEd, Exelon's energy delivery subsidiary, also received a Community Partnership Award for its collaboration in expanding the talent pipeline through skill training programs.

ComEd celebrates the graduation of 121 new pre-apprentices from training programs aimed at becoming full-time lineworkers. This event marks one of the largest overhead classes in recent history, reflecting ComEd's commitment to hire hundreds more entry-level craft workers to support the state's clean energy transition. Graduates come from diverse backgrounds, with over 32% being minorities. ComEd aims to create equitable opportunities in the energy sector, focusing on building a resilient grid and preparing for increased demand for renewable energy and electric vehicles.

ComEd has launched its Community Energy Assistance Ambassador (CEAA) program for the third consecutive year, aimed at providing financial assistance to income-eligible customers struggling to pay their electric bills. This program offers temporary employment to around 100 local residents, who educate community members about bill-assistance options. Since its inception, the CEAA program has reached 1,800 families, delivering over $59,000 in assistance. The initiative reflects ComEd's commitment to support economically challenged communities across northern Illinois.

ComEd launches a $40 million Whole Home Electrification Program aimed at converting low-income homes to all-electric systems. The initiative focuses on energy efficiency and reducing carbon footprints, providing upgrades such as heat pumps and weatherization. Funded repairs will cover 100% of costs for single-family homes and up to 70% for multi-unit buildings. The program aligns with Illinois' Climate and Equitable Jobs Act, enhancing energy savings while aiming to decrease air pollution. ComEd hopes to help 100 homes initially and promote broader adoption of electrification technologies.

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.