Exelon Stock Price, News & Analysis

ComEd is emphasizing the importance of bill-payment assistance as many families and businesses face ongoing financial challenges from the COVID-19 pandemic. Last year, the company provided over $70 million in aid to more than 250,000 customers. This year, ComEd continues to offer financial assistance programs for eligible customers, including residential customers earning up to 250% of the federal poverty level. Customers with past-due balances are encouraged to reach out for assistance at 1-800-334-7661.

Exelon Corp. (Nasdaq: EXC) announced the departure of William Von Hoene Jr., senior executive vice president and chief strategy officer, effective March 31. Over his 19-year tenure, Von Hoene led two significant mergers, enhanced diversity and inclusion efforts, and shaped Exelon’s corporate strategy. His leadership has been instrumental in preserving thousands of jobs and advancing environmental policies. Following his exit, departments he managed will report directly to CEO Chris Crane.

Exelon Corporation (Nasdaq: EXC) reported solid 2020 financials with adjusted earnings at $3.22 per share, above guidance. Despite achieving $400 million in cost savings, the company faced challenges from severe winter storms, impacting Q1 2021 earnings guidance to $2.60-$3.00 per share. Q4 2020 GAAP net income fell to $0.37 per share, down from $0.79 in Q4 2019.

Key developments include a planned utility separation and an $810 million sale of solar assets, with a pre-tax gain of $75-$125 million expected. A quarterly dividend of $0.3825 was declared for Q1 2021.

Exelon Corp. (Nasdaq: EXC) announced a plan to separate into two publicly traded companies: Exelon Utilities (RemainCo) and Exelon Generation (SpinCo). This strategic move aims to enhance financial independence and service to specific customer needs. RemainCo will manage regulated utilities serving over 10 million customers and invest $27 billion over four years to modernize the grid, while SpinCo will lead in clean energy with 31,000 megawatts of generating capacity. The separation is expected to complete in Q1 2022, pending regulatory approvals.

Exelon Generation's six Illinois nuclear plants provided power to 11 million homes during a recent cold snap, operating at nearly 100% output. The facilities ensured reliable, carbon-free electricity for essential services. Chief Nuclear Officer Dave Rhoades highlighted their commitment to safety and operational excellence. The plants recorded a 99% reliability rate last winter and similar performance during the hottest summer on record. Exelon Generation, a leader in carbon-free energy, operates the largest U.S. fleet of zero-carbon nuclear plants, supporting over 20 million homes.

ComEd reported to the Illinois Commerce Commission that the Future Energy Jobs Act (FEJA) is effectively providing residential customers with savings and clean energy benefits that exceed costs. Since its 2016 enactment, FEJA has led to average monthly savings of over $1.30 for residential customers. Notably, in 2020, over 10,500 customers connected renewable energy sources, totaling 183 megawatts. The program is also promoting job opportunities in underrepresented communities. FEJA is set to remain active until 2031, with potential funding of up to $220 million annually for renewable energy.

Exelon Utilities CEO Calvin G. Butler Jr. received the prestigious BEYA Chairman’s Award on February 13 at the annual BEYA STEM conference. This recognition honors his contributions to opening opportunities for Black individuals in science, technology, engineering, and math (STEM). Under Butler's leadership, Exelon has launched various workforce development initiatives, leading to over 700 new hires in the last 18 months. Exelon serves around 10 million customers across several states, making it a major player in the U.S. energy market.

In 2020, Exelon Generation's Illinois nuclear fleet generated a record amount of carbon-free electricity, crucial during the COVID-19 pandemic. The fleet achieved significant milestones, with Byron and Dresden stations breaking world records for refueling outages, while other plants set annual production records. Exelon’s plants accounted for over half of Illinois’ electricity and nearly 90% of its carbon-free energy, with an impressive capacity factor of 95.4%. However, the planned retirement of Byron and Dresden stations this fall, due to unfavorable market policies, raises concerns as they produce 30% of the state's carbon-free power.

Exelon released its Environmental, Social and Governance (ESG) Report, emphasizing its commitment to corporate social responsibility and transparency. The report showcases Exelon's leadership as the largest producer of carbon-free energy and its advocacy for emissions reduction policies. Highlights include a $20 million investment in climate technologies, significant savings for customers through energy efficiency programs, and extensive community support with over $51 million in contributions. The report also underscores its diverse workforce and board and outlines initiatives aimed at fostering equity and sustainability.