Exelon Stock Price, News & Analysis

ComEd has submitted a $1.7 billion energy efficiency plan to the Illinois Commerce Commission for 2022-2025, aiming to enhance energy-saving programs for customers. The plan supports income-eligible customers, allocating over $113 million yearly to these initiatives, exceeding state requirements. It also focuses on electrification strategies with $10 million annually dedicated to income-eligible electrification measures. Since 2008, ComEd’s programs have reportedly saved customers over $6 billion on energy bills.

ComEd has launched the Smart Assistance Manager (SAM), an online tool helping residential customers access financial assistance and manage electric bills. SAM tailors support options based on household data, allowing users to see programs like LIHEAP and PIPP. Customers can also access recommendations for energy efficiency programs. In addition, ComEd has eliminated late fees for eligible low-income customers and introduced new payment options including PayPal.

Exelon Corporation (NASDAQ: EXC) joined a coalition defending the EPA's authority to regulate greenhouse gas emissions in the U.S. Supreme Court case West Virginia vs. EPA. This coalition seeks to uphold a lower court ruling supporting the EPA's regulatory powers under the Clean Air Act. Exelon plans to invest over $25 billion in the electric grid over four years, focusing on enhancing renewable energy infrastructure and electrification efforts. These initiatives are vital for achieving cleaner energy goals and addressing climate challenges.

In January 2022, ComEd reported a significant increase in scams targeting its customers, with over 240 reports, a 150% rise from January 2021. Victims lost more than $27,000, escalating the issue 20 times compared to the previous year. Scammers frequently use mobile payment apps, tricking customers into making payments under threat of service disconnection. ComEd advises customers to remain vigilant against these tactics and provides tips on how to identify scams. The company is committed to helping customers avoid falling victim to such fraud.

Exelon Corporation (NASDAQ: EXC) advocates for increased funding for the Low-Income Home Energy Assistance Program (LIHEAP) during National LIHEAP Action Day. The company emphasizes the importance of this assistance for over 6 million financially struggling households. In 2021, LIHEAP provided $8 billion, boosted by an additional $4.5 billion from the American Rescue Plan, set to expire in September 2022. Exelon's utilities connected over 650,000 customers to $430 million in energy assistance last year, stressing the need for continued support for vulnerable communities.

Exelon Corporation (Nasdaq: EXC) and the Exelon Foundation have allocated $2.4 million in scholarships to 24 college freshmen through the HBCU Corporate Scholars Program, aimed at supporting students from historically Black colleges and universities (HBCUs). Each selected student receives $25,000 annually for four years, totaling $100,000. The initiative focuses on career readiness and offers internships tailored to students' academic interests.

ComEd has introduced its Future of Energy program, investing $250,000 in scholarships to support women and minorities pursuing STEM degrees. Scholarships range from $2,500 to $10,000 and offer internship opportunities. Applications are open until March 28, 2022 for Illinois students. This initiative aims to build a diverse workforce in the energy sector. ComEd has previously supported over 1,700 participants through various educational programs.

ComEd, a unit of Exelon Corporation (NASDAQ: EXC), reported significant improvements in power reliability due to grid investments since 2011, resulting in a 68% increase in reliability and avoiding over 17 million outages. These upgrades have saved customers more than $3 billion in outage costs. ComEd’s competitive residential rates are 17% lower than top U.S. metros, contributing to economic development, including 16 new industrial projects and 4,700 jobs in 2021.