Exelon Stock Price, News & Analysis

In 2020, ComEd completed infrastructure enhancements in Illinois, generating nearly 6,400 jobs and over $2.7 billion in investments. This initiative enabled 17 new customer projects, yielding 563 megawatts of capacity, enough to power 160,000 homes. Since 2012, ComEd's investments have led to improved grid reliability, avoiding over 16 million interruptions. In December, the Illinois Commerce Commission approved a $14 million decrease in delivery service charges for 2021. ComEd's competitive rates and modern grid are significant factors in attracting new businesses, particularly in the technology sector.

Exelon Generation's Conowingo Dam has received a 50-year operating license from the Federal Energy Regulatory Commission, a milestone for Chesapeake Bay restoration efforts. The renewed license will facilitate up to $700 million in enhancements for water quality, aquatic habitats, and fish passages. The dam continues to be Maryland's largest renewable energy source, providing reliable power to thousands. New programs will address habitat restoration and debris management, securing environmental and economic benefits for Maryland over the next half-century.

ComEd is enhancing its financial assistance efforts by increasing funding by $9 million to aid Illinois families adversely impacted by the COVID-19 pandemic. The Illinois Commerce Commission has approved a comprehensive support package that includes enhanced payment options and reconnection programs for eligible customers. Key initiatives include one-time bill credits of up to $500, extended payment arrangements spread over 18 months, and reconnection assistance requiring only 25% of outstanding balances. The initiatives aim to stabilize customer financial situations during ongoing economic challenges.

ComEd is offering grants up to $10,000 for community projects in northern Illinois that focus on environmental protection, public safety, and arts access. The application deadline is March 26, 2021. Since 2013, ComEd has awarded about $2.6 million through partnerships with Openlands and the Metropolitan Mayors Caucus, supporting over 350 projects. Grants include Green Region for public spaces, Powering Safe Communities for safety and electrification, and Powering the Arts for cultural access. Details on eligibility and application are available at ComEd.com/Grants.

ComEd is enhancing customer experience by providing personalized reliability reports with March bills for residential and small-business customers. These reports detail individual service reliability, outage information, and total outages avoided due to investments in a reliable power grid. Since 2012, ComEd's smart grid initiatives have led to over 16 million avoided service interruptions and approximately $2.7 billion in societal savings. Such improvements were highlighted during outages caused by severe weather events.

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.