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.
ComEd has saved customers over $6 billion through its Energy Efficiency Program since 2008, aiding both residential and business sectors in reducing energy consumption. This initiative has enabled savings equivalent to powering 6.5 million homes for a year and eliminated more than 61 billion pounds of carbon emissions. ComEd’s commitment to delivering clean and affordable energy continues, with suggestions for customers to prepare homes for winter while managing energy costs.
Exelon Corp. (Nasdaq: EXC) has received final regulatory approval from the New York State Public Service Commission to proceed with its plan to separate into two distinct companies by Q1 2022. This approval allows the transfer of Exelon’s New York nuclear facilities to the new Constellation company. The separation aims to enhance strategic flexibility and financial strength to better serve over 10 million customers across the U.S. Completion is subject to Board approval and SEC procedures, but no shareholder approval is required.
Exelon Corporation, recognized with the Chairman’s Award by the Center for Energy Workforce Development, celebrates its leadership in workforce development. The honor acknowledges Exelon's commitment to enhancing a skilled, diverse energy workforce and economic growth in communities. Its 100+ programs have helped over 34,000 participants, with 1,700 graduates employed in meaningful positions. Additionally, ComEd and Delmarva Power received accolades for community partnerships focused on economic equity. This underscores Exelon’s ongoing commitment to preparing work-ready adults and youth for family-supporting careers.
Exelon Corp. (Nasdaq: EXC) hosted U.S. Secretary of Energy Jennifer M. Granholm at the Braidwood Generating Station, emphasizing the importance of clean energy investments in combating climate change. The visit was aligned with the Biden administration's Build Back Better agenda, which seeks to support the nuclear fleet that generates over 50% of the U.S.'s clean energy. Key figures include Braidwood's capacity to power over 2 million homes and its role in supporting jobs and the economy through carbon-free electricity. The company urges Congress to act on climate legislation to secure a sustainable energy future.
The Illinois Commerce Commission approved ComEd's investment plan aimed at enhancing grid reliability and facilitating the transition to renewable energy. This decision follows an eight-month review and will result in a $46 million rate increase, adding 16 cents to the average residential bill starting January. Despite this, ComEd maintains competitive rates, being 17% lower than major U.S. metropolitan areas. The company also supports low-income customers with over $138 million in assistance amid rising energy efficiency fees.
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ComEd has been honored by the Center for Energy Workforce Development (CEWD) with the Community Partner Award for its impactful job training and placement programs aimed at minority communities. Highlighting the success of the CONSTRUCT Infrastructure Academy and its collaboration with the Chicago Public Schools, ComEd has trained over 600 students since 2013, achieving a 70% employment rate post-graduation. This program enhances workforce development, preparing diverse candidates for roles in the utility and construction sectors.
This holiday season, a collaboration between the Better Business Bureau and utility companies aims to raise awareness about increasing scam attempts targeting consumers. Steve Bernas, CEO of the BBB of Chicago, indicates a rise in imposters posing as utility workers. In 2020, Americans lost over $3.3 billion to fraud, with nearly $1.2 billion due to impersonation scams. The initiative coincides with Utility Scam Awareness Week (Nov. 14-20) to educate customers on protective measures, including verifying identification and never disclosing personal information to unsolicited contacts.
ComEd has completed a new substation expansion in Elk Grove, Illinois, enhancing power capacity for data centers in the region. This development supports the growth of high-tech industries, particularly in Elk Grove Technology Park and the greater Western O’Hare area. The expanded infrastructure aims to boost economic growth, job creation, and energy reliability. The Chicago region ranks second globally for data center growth opportunities, with ComEd's investments positioned to cater to this demand.
Kevala Inc., a leader in energy data analytics, has partnered with National Grid (NYSE: NGG) and Exelon Corporation (Nasdaq: EXC) to release a White Paper on a new carbon accounting framework. The 'Total Carbon Accounting' (TCA) method aims to enhance the precision of carbon intensity data for grid electricity, allowing better evaluations for decarbonization efforts. This innovative approach is currently being piloted by major utilities in North America and Europe. Kevala recently secured $21 million in Series A funding to further develop its platform and services.
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