Exelon Stock Price, News & Analysis

ComEd has announced the appointment of Gil C. Quiniones as its new CEO, effective November 15, 2021. Quiniones brings over 30 years of experience, having served as the president and CEO of the New York Power Authority for the last decade. His leadership is expected to enhance ComEd's commitment to providing reliable, affordable, and clean energy to over 4 million customers in northern Illinois. He will report to Calvin Butler, the CEO of Exelon Utilities, who has been serving as the interim CEO.

ComEd is set to host a virtual job fair and networking event for the Bronzeville community on October 21, 2021, from 10 a.m. to 2 p.m. This event is part of their Community of the Future program, aimed at enhancing sustainability and connectedness within the community. Attendees will network with industry representatives and learn about emerging energy technologies. The event includes panel discussions on breakthrough innovations and the status of the Bronzeville Community of the Future. Registration is available at techandenergyexpo.vfairs.com.

ComEd's Energy Efficiency Program has saved customers over $5.7 billion since 2008, equivalent to powering over 6 million homes for a year. The program, one of the largest in the U.S., offers various incentives to help families and businesses reduce energy consumption and bills, particularly for those with limited budgets. Eligible customers can benefit from free energy upgrades, instant discounts on energy-efficient products, and Energy Saving Kits. ComEd's initiatives also support environmental sustainability by reducing carbon emissions significantly.

Exelon Corp. (Nasdaq: EXC) has announced leadership appointments for its upcoming separation into two distinct companies: Exelon for regulated utility services and Constellation for competitive energy generation. CEO Christopher Crane will lead Exelon, while Joseph Dominguez will serve as CEO for Constellation. The separation is expected to finalize in Q1 2022, pending regulatory approvals. This transition aims to enhance strategic independence and focus on customer needs, with Exelon committing to clean energy initiatives and infrastructure investments.

ComEd has become the first utility to integrate the Resilient Electric Grid (REG) system, developed by American Superconductor Company (AMSC), enhancing grid reliability amid increased climate threats. This innovative high-temperature superconductor wire can carry 200 times the voltage of copper wire, significantly improving energy efficiency by eliminating resistance. Funded partially by the U.S. Departments of Homeland Security and Energy, ComEd plans to test this system over the next year, potentially connecting it to multiple substations for added resilience.

Exelon Generation is hiring 650 employees and committing $300 million for capital projects at its Illinois nuclear stations, thanks to new clean energy legislation. This initiative aims to ensure the plants can safely produce carbon-free electricity for over 10 million customers while substantially contributing to Illinois' economy, adding $1.6 billion to the GDP annually. The Byron and Dresden plants will undergo significant upgrades over the next five years, with $140 million and $170 million allocated respectively for essential improvements.

Crayhill Renewables and Exelon Power Services have launched a comprehensive lifecycle management program aimed at supporting renewable energy projects. This program offers a combination of financing and operational services, including pre-Notice to Proceed lending and take-out equity from Crayhill. With over $1 billion invested in pre-NTP assets, the partnership seeks to streamline project development and accelerate the energy transition across the U.S. This integrated solution aims to enhance operational efficiencies and enable rapid market entry for renewable energy projects.

Exelon Generation announced plans to refuel its Byron and Dresden nuclear plants following a comprehensive energy bill passed by the Illinois legislature. This legislation is expected to preserve over 28,000 jobs, lower carbon emissions, and prevent consumer energy costs from rising. Exelon's nuclear plants generate over 90% of Illinois' carbon-free energy and are essential for meeting state climate goals. The company will begin filling vacant positions and resume capital projects post-legislation approval, ensuring the plants remain operational amidst economic challenges.

The ComEd Powering the Arts Program has awarded nearly $130,000 in grants to 16 nonprofit organizations in northern Illinois to enhance community access to the arts. Each organization will receive up to $10,000 to support initiatives aimed at reaching diverse audiences. Since 2018, the program has distributed over $450,000 in grants, benefiting 58 local arts and cultural institutions. ComEd aims to facilitate the recovery of the arts sector post-pandemic, ensuring ongoing engagement and enjoyment of the arts for residents.