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) 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 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.
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.