Exelon Stock Price, News & Analysis

ComEd, in collaboration with North Carolina State University’s FREEDM Systems Center, has secured a $200,000 grant from the U.S. Department of Energy to fund a $5 million project aimed at enhancing extreme fast charging (XFC) technology for electric vehicles. This initiative will facilitate faster EV charging, reducing times to as little as 15 minutes. The project highlights the growing push towards cleaner energy solutions, aiming to alleviate consumer concerns related to charging times and promote EV adoption.

ComEd has launched its unique Give-A-Ray program, providing income-eligible customers with the opportunity to access community solar projects, leading to an annual savings of about $1,000 on electricity bills for up to three years. The program includes projects in Rockford and Kankakee, serving over 560 customers. By the end of this year, ComEd will have interconnected more than 80 community solar projects, aiming for a solar generation capacity increase from 500 MW to 2,700 MW by 2030.

Constellation has appointed Nneka L. Rimmer to its Board of Directors, effective November 1, 2022. Rimmer, previously the president of Global Flavors & Extracts at McCormick, brings extensive experience in leadership, growth, and strategic expertise. Her prior role included overseeing a $4.2 billion acquisition, contributing to McCormick's success. Rimmer's appointment aligns with Constellation’s mission to transition to a carbon-free future, aiming for 100% carbon-free power generation by 2040.

Exelon announces executive promotions, elevating Calvin G. Butler Jr. to president and chief operating officer, alongside Jeanne Jones becoming executive vice president and chief financial officer. CEO Chris Crane retains his role to lead over 18,000 employees serving more than 10 million customers across six states. Butler's expanded responsibilities include overseeing IT and corporate relations, while Jones brings extensive financial experience. The company remains focused on enhancing grid reliability and promoting renewable energy initiatives.

ComEd reports record reliability in electric service for 2022, achieving 82% better reliability since smart grid improvements began in 2011. The utility has prevented over 18.8 million outages, saving customers over $3 billion. With average residential rates 21% lower than major U.S. metro areas, ComEd's electricity costs are nearly the lowest relative to residents' income. The company facilitated 16 new projects, driving $3 billion in local investment and 4,700 jobs. Recognized among the top 20 energy providers nationally, ComEd continues to attract businesses with its dependable infrastructure.

ComEd has announced nearly $1.4 million in grants aimed at connecting northern Illinois families and businesses to climate-friendly programs. The grants, which can reach up to $450,000 each, will be managed by three nonprofit organizations: Community Investment Corporation, Equiticity, and Proviso Leyden Council for Community Action. This initiative focuses on supporting under-resourced communities impacted by climate change, providing educational resources, and promoting clean energy adoption.

Exelon (Nasdaq: EXC) has committed to the White House Talent Pipeline Challenge, aiming to enhance workforce development in critical infrastructure sectors. This year, Exelon plans to invest nearly $14 million across 75 workforce programs, benefiting over 5,000 participants. Since 2019, more than 14,000 individuals have completed its training programs, with nearly 1,300 securing sustainable careers. The initiative focuses on equity and partnerships, with Exelon emphasizing its role in driving economic growth for underserved communities.

ComEd's Energy Doctors provide essential energy-saving tips for cold weather, supporting families in managing electric bills as temperatures drop. Highlighting resources, these experts focus on aiding customers facing economic hardships, especially during National Energy Efficiency Day on October 5. Key strategies include optimizing thermostat settings, using natural sunlight, and maintaining heating vents. The award-winning Energy Efficiency Program has saved customers over $7 billion since 2008, helping them conserve nearly 65 million megawatt-hours. Free home energy assessments have also saved customers approximately $17.5 million.

ComEd hosted a STEM Labs event to inspire 50 Latino high school students to pursue careers in science, technology, engineering, and math (STEM). The event, part of efforts to address Latino underrepresentation in STEM, allowed students to build robots and interact with ComEd engineers. Participants received $250 scholarships and learned about various STEM career opportunities. Despite making up 17% of the U.S. workforce, Latino Americans represent only 8% of STEM workers. ComEd continues to sponsor initiatives promoting STEM education for students of color and women.