Exelon Stock Price, News & Analysis

Exelon has joined the Electric Highway Coalition, a group of 14 U.S. utilities creating a network of rapid electric vehicle charging stations across major highways. Exelon's six utility companies will help expand access to fast charging, alleviating range anxiety for electric vehicle users. The coalition aims to place stations less than 100 miles apart, with at least two universal chargers per site. The initiative supports the anticipated growth of electric vehicles, with an estimated 18 million expected on U.S. roads by 2030. Exelon also aims to electrify half its utility vehicle fleet by 2030, promoting sustainable energy solutions.

ComEd and Openlands announced grants totaling up to $10,000 each to 23 public agencies in northern Illinois through the ComEd Green Region Program, aimed at enhancing habitats and mitigating climate change impacts. Since 2013, over $1.5 million has been awarded for more than 200 projects, restoring approximately 1,000 acres of land. Projects include creating pollinator habitats, improving public spaces, and supporting biodiversity. ComEd emphasizes the importance of sustainable public spaces amid community economic challenges.

The four nuclear plants serving Chicago and northern Illinois have achieved over 15,000 consecutive days of operation, supplying more than two-thirds of the state's carbon-free energy. Byron Station recently marked 5,000 days online, while Dresden reached 4,260 days, contributing to the plants' leading operational records. However, low power prices may lead to the closure of the Byron and Dresden plants, risking a cumulative increase of over 100 million metric tons of carbon emissions in the next decade. These plants support 28,000 jobs and generate $3.5 billion for the Illinois economy.

ComEd, a unit of Exelon Corporation (NASDAQ: EXC), warns customers about a rise in utility-related scams as COVID-19 restrictions ease. Scammers pose as utility employees or contractors to steal personal information and valuables. ComEd emphasizes they never request immediate payments or personal information via unsolicited contact. Customers are urged to verify any visits or communications and report suspicious activity. The BBB recommends utilizing their Scamtracker to report scams and protect the community.

The Exelon Foundation, in partnership with Exelon Corp., has reintroduced its annual STEM Leadership Academy to empower female students in STEM fields. Launching various events in Chicago, Philadelphia, and Washington D.C./Baltimore, the Academy aims to engage 180 students from July 11-16 and August 1-6, 2021. The program combines in-person and virtual components, focusing on climate change impacts. Exelon has committed $1 million for a scholarship program for past attendees, supporting their college education. The initiatives underscore Exelon's dedication to fostering diversity in STEM and addressing environmental challenges.

ComEd, part of Exelon Corporation, is showcasing its innovative goat vegetation management program with a boat cruise on the Chicago River, featuring 20 goats. This initiative, ongoing since 2019, utilizes goats to clear vegetation under power lines in Pekin, Illinois, significantly reducing the costs and risks associated with traditional methods. The program has successfully cleared 13 acres last year, enhancing service reliability and minimizing power outages. The cruise aims to educate the public about this eco-friendly solution to vegetation management.

ComEd's report on the Future Energy Jobs Act (FEJA) reveals significant progress in clean energy workforce training. In 2020, 94% of trainees (684 out of 728) graduated and secured jobs, an increase from 72% in 2019. The training programs, running through 2029, focus on underrepresented groups and are funded by three $10 million installments. The Solar Pipeline, IBEW Renewable Energy Fund, and Multicultural Job Training programs are key components. Despite pandemic challenges, partnerships with social agencies facilitated training and job placements across various roles in clean energy.

Rockford's Mayor launched a new 15-year solar energy program called Give-A-Ray, in partnership with Nexamp and ComEd, aimed at providing free solar benefits to low and moderate-income residents. This initiative will allow around 650 customers annually to earn monthly utility bill credits, translating to about $250 in savings each year. The program is part of Illinois' Solar for All initiative, established by the Future Energy Jobs Act of 2016. The Rockford community solar farm is set to begin operations in fall 2021, featuring over 6,600 solar panels with a capacity of 2.6 megawatts.

Sunverge and Delmarva Power have launched the Elk Neck Battery Storage Pilot Program, aimed at enhancing grid reliability and integrating distributed energy resources (DERs). With regulatory approval from the Maryland Public Service Commission, the project will deliver backup power and multiple grid services. The program is expected to have a capacity of 0.55 MW / 2.2 MWh and become fully operational by Q1 2022. This collaboration is pivotal for demonstrating the efficiency of Virtual Power Plants and improving local energy resilience.