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.
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ComEd has graduated 33 diverse contractor businesses from its Energy Efficiency Service Provider (EESP) Incubator program, aimed at enhancing energy efficiency and supporting minority-owned, woman-owned, and veteran-owned firms across northern Illinois. Since 2019, the program has assisted 66 contractors, enabling them to save energy for 139 local residents and businesses. ComEd's initiatives have resulted in energy savings of over 56 million megawatt hours and $6.7 billion in customer savings, while collectively reducing carbon emissions significantly.
ComEd has reintroduced honeybee hives for the third consecutive year beneath its power lines in Prospect Heights, Illinois. This initiative aims to raise awareness of pollinator conservation, providing a safe habitat for bees that are vital for food production. Two hives have been placed on five acres of native prairie, supporting the local ecosystem. ComEd has collaborated with Alveole, harvesting 42.65 kilograms of honey in previous years. Recent efforts have also seen land designated as pollinator habitats reach nearly 4,000 acres, along with the distribution of 3 million milkweed seeds for monarch butterflies.
Constellation Clearsight has entered a long-term partnership with Voliro AG, aiming to integrate advanced airborne robotic technology for energy inspections in the U.S. market. This collaboration leverages Voliro's innovative drone capabilities, allowing Clearsight to deliver enhanced inspection services with features like Non-Destructive Testing and Ultrasonic Testing. According to executives from both companies, this agreement is expected to enable faster and safer inspections, improving operational efficiency in maintaining critical infrastructure.
The Powering the Holidays program, launched by ComEd and the Metropolitan Mayors Caucus, is offering $45,000 in grants for community-driven holiday events across northern Illinois. Each community can apply for up to $2,500 to enhance holiday light displays that celebrate diverse cultures. The funding has increased from $25,000 due to last year's success. Eligible applicants must partner with local government entities and match 20% of the grant funding. Applications are open until September 9, 2022, for events running from November 1, 2022, to February 13, 2023.
ComEd has successfully trained nearly 2,400 residents in Illinois since 2017 through clean energy programs. In 2021, over 681 individuals completed training, achieving an 89% graduation rate and an 83% job placement rate. The program focuses on diversity, with 60% of participants being minorities. Supported by a $30 million investment, the Future Energy Jobs Act (FEJA) aims to enhance workforce equity in the renewable energy sector. Notable programs include the Solar Training Pipeline and the Craft Apprenticeship Training, with significant job placement rates reported.
ComEd has submitted a plan to the Illinois Commerce Commission to support beneficial electrification, committing
ComEd has partnered with the City Colleges of Chicago (CCC) to launch the Overhead Electrical Line Worker (OELW) training program, aimed at preparing job seekers for entry-level positions in the electrical industry. This program, running from September 12, 2022, to March 30, 2023, at Dawson Technical Institute, offers scholarships and the chance to secure well-paying jobs with starting wages of nearly $29/hour. ComEd plans to hire an additional 500 entry-level workers in the next three years to meet clean energy demands. Over 60% of OELW graduates have been employed by ComEd since the program's inception.
Cleartrace has secured a $20 million financing round led by ClearSky, with investments from Brookfield Renewable, EDF Energy North America, Tenaska, and Exelon. This funding supports the growth of its carbon and energy management platform, which delivers hourly energy and carbon data to aid companies in achieving decarbonization goals. The company is already collaborating with notable clients such as Iron Mountain and JPMorgan Chase. The investment will also provide the participating firms with board representation, enhancing strategic direction.
ComEd is constructing a new 138-kilovolt substation at the U.S. Department of Energy’s Argonne National Laboratory to support their world-class research facilities. This substation is the third on the Argonne campus, enhancing energy reliability for critical projects such as the upcoming Aurora exascale supercomputer. Over the past year, ComEd has achieved record service reliability, avoiding over 17 million customer interruptions and saving customers more than $3.1 billion in outages. The partnership aims to transition to a net-zero future.