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.
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.
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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.