Exelon Stock Price, News & Analysis

ComEd and the Metropolitan Mayors Caucus announced the third cohort of 20 communities joining the EV Readiness Program, an initiative helping local governments prepare for increasing electric vehicle (EV) demand. The program provides technical assistance for streamlining policies and implementing best practices for regional transportation electrification.

EVs in Illinois have more than doubled from 53,000 in 2022 to over 119,000 today, with the majority in northern Illinois. The program has reached 41 communities and continues expanding through ComEd's investments in beneficial electrification. ComEd has made nearly $90 million available in funding for EV projects, resulting in over 3,000 charging ports and 150 fleet vehicles across 300 unique zip codes.

Exelon (Nasdaq: EXC) announced leadership changes effective January 1, with Gayle Littleton stepping down as Executive Vice President, Chief Legal Officer and Corporate Secretary. Colette Honorable, currently Executive VP of Public Policy and Chief External Affairs Officer, will assume the role of Chief Legal Officer and Corporate Secretary while maintaining her current responsibilities for federal policy, regulatory affairs, and corporate giving.

Honorable, who joined Exelon in 2023, brings extensive experience including serving as a FERC Commissioner and chairman of the Arkansas Public Service Commission. She previously was a partner at Reed Smith LLP, where she provided strategic counsel to energy companies on various matters including climate change and environmental justice.

Delmarva Power's Gas Operations team continued its 30-year Thanksgiving tradition of community support through fundraising initiatives. The team organized events like pie-throwing contests and dunk tanks to raise funds for holiday meal donations. Their efforts resulted in the distribution of 360 turkeys and 148 Cornish hens to 14 different agencies, including senior centers, churches, and community centers, ensuring timely delivery before Thanksgiving.

Delmarva Power and Delaware Nature Society have awarded $40,000 in Sustainable Community Grants to five local organizations for environmental and community development projects. The grants support initiatives focusing on reforestation, sustainable transportation, affordable housing, and composting programs across Delaware and Maryland. Recipients include Delaware Wild Lands ($10,000), Plastic Free Delaware ($5,000), Milford Housing Development ($10,000), Urban Bike Project of Wilmington ($10,000), and Whitehall Community Garden Association ($5,000). This initiative is part of Delmarva Power's broader commitment to supporting clean energy goals and reducing greenhouse gas emissions, aligning with parent company Exelon's Path to Clean goal of 50% emissions reduction by 2030.

ComEd, Nicor Gas, Peoples Gas, and North Shore Gas have joined the Better Business Bureau (BBB) of Chicago and Northern Illinois to warn customers about increased utility scams during the holiday season. Scammers are using new tactics, including QR codes, mobile banking apps, and posing as bill-management companies. They often threaten service disconnection and demand immediate payments. The companies emphasize that they never use aggressive tactics, demand immediate payment, or request personal information like Social Security numbers. Customers are advised to verify representative identities and contact utilities through official channels if suspicious.

ComEd celebrated its newest Power Up Academy graduating class and announced the program's accreditation through City Colleges of Chicago. The 14-week career training program now offers participants up to 13 college credit hours, equivalent to a semester's coursework. The latest class of 9 graduates reflects diversity with 90% people of color and 80% female representation.

The academy, launched last year in partnership with Revolution Workshop and local engineering firms, removes barriers to engineering careers by eliminating the upfront college degree requirement. The program boasts an 80% job placement rate, with graduates joining ComEd or sponsor companies. Participants gain industry knowledge, project management skills, and AutoCAD proficiency, preparing them for the growing clean energy sector that could bring 150,000 jobs to Illinois by 2050.

ComEd has received two prestigious 2024 ReliabilityOne® awards from PA Consulting: Outstanding Reliability Performance in the Midwest Metropolitan Service Area and Outstanding Climate Action Leader. The company has improved overall reliability by more than 70% since 2012, helping customers avoid 21.7 million interruptions and save $3.8 billion in outage-related costs.

The utility is advancing clean energy initiatives with over 1,120 MW of distributed energy resources currently interconnected, expecting to reach 1,900 MW by 2025. ComEd supports Illinois' goal of 1 million electric vehicles by 2030, with over 116,000 EVs currently registered in the state. These achievements align with Illinois' Climate and Equitable Jobs Act (CEJA) goals for a cleaner energy future.

Delmarva Power hosted a Careers in Energy Week Expo attended by over 200 middle and high school students from New Castle County. Students from various schools participated in interactive exhibits featuring a Virtual Reality Module, Electric Operations, Gas Operations, and Environmental Management. The event, part of an industry-wide initiative, aimed to showcase career opportunities in the energy sector and inspire future energy professionals through hands-on experiences.

ComEd has enhanced its hosting capacity map for solar developers, now providing monthly updates with near real-time data. The company received 2,250 new interconnection applications in October, marking the seventh consecutive month with over 2,000 applications. The total for 2023 reached 21,952 applications, an all-time high. ComEd completed 1,976 Distributed Energy Resource systems in October, adding 42 megawatts of generation capacity. Currently, there are approximately 1,160 MW of DER connected to ComEd's system, with projections to reach 2,700 MW by 2030. The company has paid over $48 million in DG rebates this year and expects to pay more than $60 million in 2024.