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.
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 location value="LS/us.il"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.
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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.