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 warns customers about an increase in utility scams as Utility Scam Awareness Day approaches on November 16. Impersonators may call or visit pretending to be ComEd employees, demanding immediate payment or personal information. ComEd emphasizes that they will never ask for direct payment via cash cards or third-party apps, nor will they demand immediate payment or personal details. The utility company provides payment assistance programs for those struggling with bills and encourages customers to verify employees by contacting ComEd directly if unsure about their identity.
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ComEd is hosting a free webinar, Navigating the Journey to EVs, on Dec. 1, 2022, at 6 p.m. to assist consumers in transitioning to electric vehicles (EVs). The event provides essential insights on EV benefits, installation of charging stations, and available rebates up to $4,000 through the state's EV Rebate program. Erica Borggren from ComEd emphasizes the health, environmental, and economic benefits of EVs, which can save drivers over $2,000 annually on fuel. Interested attendees can register for the webinar at NavigatingtheJourneytoEVs.eventbrite.com.
ComEd has awarded scholarships to four local students pursuing STEM degrees at Illinois Institute of Technology and University of Illinois Chicago as part of its 2022 ComEd Scholars program. This initiative aims to bridge the funding gap for students and foster diversity in the STEM workforce. Recipients also benefit from mentorship and internship opportunities at ComEd and its parent company, Exelon. Since its launch in 2019, the program has supported 26 students, highlighting ComEd's commitment to educational equity and workforce development.
Constellation Energy Corporation (Nasdaq: CEG) reported a third-quarter 2022 GAAP net loss of $188 million, a significant decline from a net income of $607 million in the same period last year. Adjusted EBITDA (non-GAAP) decreased to $592 million from $967 million in Q3 2021. The company has narrowed its full-year adjusted EBITDA guidance to $2.45 billion - $2.65 billion. Notably, S&P upgraded its issuer credit rating to BBB, reflecting improved business risk due to supportive policies from the recently signed Inflation Reduction Act. The company is pursuing license renewals for its nuclear plants.
ComEd has launched a new electrical substation in Franklin Park, Illinois, in partnership with Digital Realty, the world's largest provider of data center solutions. This substation, located on Digital Realty's campus, enhances power capacity crucial for supporting the booming data center industry in northern Illinois, which has seen over $2 billion in local investments from 16 new data center projects in the past two years. This infrastructure improvement aims to deliver reliable, clean energy to 9 million people, thus fostering greater investment opportunities.
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ComEd announced its intent to file a comprehensive multi-year grid plan and a four-year rate plan with the Illinois Commerce Commission in January 2023. This initiative aligns with the Climate and Equitable Jobs Act's goals for clean energy and job creation. CEO Gil Quiniones emphasized that a resilient grid is essential for decarbonization and local environmental improvement. Notably, ComEd achieved record reliability in 2022, with rates significantly lower than national averages, enhancing service for over 4 million customers in Illinois.
Exelon Corporation (Nasdaq: EXC) reported a strong third quarter of 2022, with GAAP Net Income at $0.68 per share and Adjusted Operating Earnings at $0.75 per share. This marks an increase from $0.47 and $0.53 respectively in Q3 2021. The company narrowed its full-year EPS guidance to $2.21-$2.29 per share and aims for 6-8% growth from 2021-2025. Key operational achievements include top quartile reliability performance at ComEd. Recent rate case settlements in Delaware and Pennsylvania are expected to enhance revenue streams.