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.
ComEd celebrated the graduation of its sixth class from the Tools of the Trade program, which trains high school students in trades and clean energy careers. Over seven weeks, 25 students learned about the energy sector through hands-on projects and professional development at ComEd's training centers in Chicago and Rockford. Since its launch in 2016, 108 students have graduated from the program, with 76% of the latest cohort being minorities. The program aligns with ComEd's commitment to workforce development and aims to fill the anticipated 2,000 new utility jobs in the Midwest within the next three years.
ComEd has extended the application deadline for its $1.8 million Climate Friendly Grant Assistance program to August 19, 2022. The program will award grants up to $450,000 each to four eligible nonprofit organizations in northern Illinois. These nonprofits must support diversity and provide clean energy-focused assistance to limited-income customers. ComEd aims to alleviate economic pressures and enhance clean energy access to its community, reflecting its long-standing commitment to supporting local organizations.
Exelon (Nasdaq: EXC) has priced a public offering of 11,300,000 shares of common stock, aiming for approximately $500 million in gross proceeds. The underwriters also have a 30-day option to purchase an additional 1,695,000 shares. The offering is set to close on Aug. 9, 2022. The net proceeds will be allocated to repay part of a $1.15 billion term loan credit facility. Barclays Capital, Goldman Sachs, J.P. Morgan, and Morgan Stanley are the joint underwriters.
Exelon (Nasdaq: EXC) plans to offer $500 million in common stock as part of an underwritten public offering, with a potential additional $75 million for underwriters. The proceeds will be used to repay borrowings from a $1.15 billion term loan credit facility. Barclays Capital, Goldman Sachs, J.P. Morgan, and Morgan Stanley are the underwriters. The offering follows a previous shelf registration filed on August 3, 2022.
Constellation Energy Corporation (Nasdaq: CEG) reported a GAAP net loss of ($111) million for Q2 2022, worsening from ($61) million in Q2 2021. Adjusted EBITDA (non-GAAP) fell to $603 million, down from $656 million year-over-year. The company reaffirmed its full-year adjusted EBITDA guidance at $2.35 billion to $2.75 billion, supported by higher energy prices and lower nuclear fuel costs. Recent agreements with Bank of America and PNC Bank aim to procure carbon-free energy. Highlights also included legislation supporting nuclear energy and a significant renewable energy deal from the Mammoth Solar project.
Exelon Corporation (Nasdaq: EXC) reported a GAAP Net Income of $0.47 per share and Adjusted Operating Earnings of $0.44 per share for Q2 2022, up from $0.33 and $0.36, respectively, in Q2 2021. The company reaffirmed its guidance for full-year Adjusted Operating Earnings at $2.18-$2.32 per share. Exelon plans to issue up to $1 billion in common stock by 2025 and anticipates $500 million in 2022. Notable performance includes ComEd's best CAIDI performance. However, some units, such as BGE and PHI, saw declines in earnings compared to the previous year.
ComEd, in collaboration with the Metropolitan Mayors Caucus, has announced $171,000 in grants for 21 community projects aimed at enhancing public safety and promoting electric vehicle (EV) charging infrastructure across Northern Illinois. The funding is part of the annual Powering Safe Communities program, now in its eighth year, which has awarded $1.7 million since its inception. The program aligns with Illinois' Climate & Equitable Jobs Act, targeting the installation of new EV charging stations and clean transportation initiatives, significantly reducing carbon emissions and improving community resilience.
Constellation (NASDAQ: CEG) announced its acceptance of applications for the E2 Energy to Educate grant program for 2022, aimed at funding student projects focused on energy innovation. Grants of up to $25,000 for secondary education and up to $50,000 for college students are available. The previous year's program granted nearly $515,000 across 23 projects, engaging nearly 21,000 students. To date, the initiative has provided nearly $5 million in funding, impacting nearly 250,000 students nationwide.
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ComEd has installed new renewable, off-grid streetlights at two Chicago Public Schools, enhancing public safety and promoting STEM education. Five streetlights were added at Walter H. Dyett High School and two at Perspectives Math and Science Academy. These lights utilize solar and wind energy, providing reliable lighting and Wi-Fi access for students. ComEd's CEO emphasized the importance of community collaboration. This initiative is part of ComEd’s broader commitment to sustainable energy solutions, having previously launched similar projects in collaboration with local schools.