Exelon Corporation (EXC) reports developments across a regulated electric and gas utility portfolio anchored by Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco. Recurring company news covers utility earnings drivers, approved distribution and transmission rates, grid investment recovery, dividend declarations and customer-affordability initiatives under The Exelon Promise.
Coverage also reflects ComEd energy efficiency programs in northern Illinois, small-business and low-income customer incentives, Illinois Commerce Commission reconciliation filings, and federal policy matters involving FERC and the PJM regional electric grid. These updates connect Exelon's transmission and distribution operations with customer costs, reliability planning and regulated rate mechanisms.
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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.