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.
Summary not available.
ComEd is promoting its sustainable vegetation management program using goats to clear brush under power lines. This initiative aims to enhance energy reliability while reducing safety risks and emissions. In a celebratory event on August 31, 2022, goats paraded on the Chicago River before heading to Matthiessen State Park. This marks their second annual visit to Chicago, with over 200 goats employed since 2019 to efficiently manage vegetation, avoiding outages and cutting costs significantly. ComEd serves over 4 million customers in northern Illinois.
ComEd is actively recruiting for 75 entry-level overhead helper positions, part of a broader initiative to add 500 roles over three years amid Illinois' clean energy transformation. Applications are accepted until Sept. 7, 2022. These positions offer pathways to full-time union careers with starting pay around $29 per hour, alongside benefits. ComEd aims to enhance workforce diversity, prioritizing women and minorities. Training programs will prepare candidates for trade skills relevant to the evolving energy sector.
UScellular has received $868,000 in incentive payments from the ComEd Energy Efficiency Program. Since joining in 2013, UScellular has upgraded operations at its Schaumburg, Ill. data center, saving around $700,000 annually on electric bills. Notable upgrades include replacing UPS infrastructure and switching to LED lighting. These improvements yield savings of nearly 8 million kilowatt hours of electricity per year, equivalent to reducing 6.8 million pounds of carbon emissions and removing 670 cars from the road.
ComEd highlights the opening of the Low-Income Home Energy Assistance Program (LIHEAP) application season on September 1. In fiscal year 2022, $8.3 billion in federal funding is available to assist income-eligible customers with energy bills. ComEd encourages immediate action for those needing assistance, offering various options, including a one-time LIHEAP grant based on household size and income. In 2021, ComEd connected over 225,000 customers to $146 million in assistance. More details are available on their website.
ComEd and CloudHQ have announced the groundbreaking of a $2.5 billion hyperscale data center campus in Mount Prospect, Illinois. Encompassing 1.5 million square feet, this facility aims to enhance the region's data center capacity and create hundreds of jobs by 2024. This project marks the eighth data center initiative in the area within the last year, showcasing ComEd’s commitment to supporting growing technology needs. The completed campus will provide over 100 permanent jobs and 3,000 construction jobs, contributing significantly to local investment and economic growth.
STEER Holdings Inc., a subsidiary of Facedrive Inc. (TSXV: FD, OTCQX: FDVRF), has signed an agreement with Enterprise Fleet Management to lease over 1000 electric vehicles valued between $80 and $150 million (USD). This strategic move supports STEER's plans for growth and U.S. expansion within the EV subscription market. The partnership aims to meet rising consumer demand for flexible, eco-friendly mobility solutions, capitalizing on the tight supply of EVs.
Summary not available.
ComEd and Openlands announced $10,000 grants to 23 organizations through the 10th annual Green Region Program aimed at enhancing climate resilience in northern Illinois. Since its inception, the program has allocated over $1.9 million, funding projects that have planted over 38,000 trees and improved more than 1,400 acres of land. This year's initiatives focus on pollinator habitats and protecting species like butterflies and bees. The program illustrates ComEd's long-standing commitment to sustainability and improving community green spaces.
Exelon (Nasdaq: EXC) has welcomed President Biden’s signing of the Inflation Reduction Act. The company emphasizes its commitment to investing in the clean energy transition, focusing on innovative solutions for reliable energy delivery. The act is expected to provide substantial resources to support the clean energy sector, enhancing efforts towards a cleaner grid.