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 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.
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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.
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.