Exelon Stock Price, News & Analysis

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.

ComEd has appointed Zaldwaynaka "Z" Scott, president of Chicago State University, and Smita Shah, CEO of SPAAN Tech, Inc., as independent directors to its board. Their expertise promotes innovation and commitment to equity, particularly for women and minorities. Scott has a robust background in higher education advocacy while Shah leads an infrastructure firm specializing in transportation and telecommunications. These appointments aim to strengthen ComEd’s leadership as it develops a cleaner energy future for northern Illinois.

Exelon Corp. (Nasdaq: EXC) announced the retirement of Mayo A. Shattuck III, the board chair since 2012, effective April 26, 2022. His departure follows the successful separation of Exelon's regulated and unregulated businesses into Exelon and Constellation, respectively. The Board is in the process of selecting a new chair from its independent members, with an announcement expected in the 2022 proxy statement. Shattuck expressed pride in Exelon's achievements and emphasized the need for fresh leadership to enhance value for customers and communities.

The Board of Directors of Exelon Corporation has announced a quarterly dividend of $0.3375 per share, payable on March 10, 2022. Shareholders must be on record by 5 p.m. Eastern on February 25, 2022 to qualify. Exelon is the largest utility company in the U.S., serving over 10 million customers through six regulated utilities. The company's commitment to reliable and efficient energy delivery continues to impact communities positively.