Exelon (EXC) Stock News

Exelon has announced a $50 million Customer Relief Fund to assist low- and middle-income customers facing rising energy supply costs this summer. The program, launching in July and August 2025, will be administered through local nonprofits across Exelon's operating companies including Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Qualifying customers could receive several hundred dollars in relief. This one-time assistance program complements Exelon's existing customer support initiatives, which in 2024 included $492.1 million in energy assistance serving 520,000 customers and nearly $1 billion in energy efficiency programs. Despite rising energy costs, Exelon customers have experienced rates 21% below major U.S. cities and a 35% improvement in reliability due to grid investments.

ComEd has announced a $10 million Customer Relief Fund to assist customers with rising summer energy costs in northern Illinois. The fund, supported by parent company Exelon, will provide one-time grants of $500 to qualifying low- to moderate-income residential customers and $1,000 to nonprofit organizations. Applications will open on July 7, 2023, through ComEd.com/Relief. The initiative is being administered in partnership with The Salvation Army and Neighborhood Housing Services of Chicago, with the announcement made at Cornerstone Community Development Corporation in Ford Heights, IL. This program aims to provide immediate billing relief to thousands of ComEd customers and complements existing energy-efficiency and financial assistance programs.

ComEd's Energy Efficiency Program has exceeded its 2024 goals, helping customers save over 13 million MWhs of electricity and nearly $1.3 billion in electric bill savings. The program provided $277 million in incentives through rebates and discounts, benefiting both residential and business customers. Business customers saved 754,000 MWhs ($79 million), residential customers saved over 1 million MWhs ($170 million), and income-eligible customers saved 730,000 MWhs ($123 million). With average monthly residential bills expected to increase by $10.60 in June due to PJM Interconnection capacity auction results, ComEd offers various assistance options. Since 2008, the program has saved customers over $11 billion and 99 million MWhs, equivalent to removing nearly 8 million cars from the road.

ComEd has received approval from the Illinois Commerce Commission for its second Beneficial Electrification (BE) Plan, investing $168 million over 2026-2028 to advance EV adoption in northern Illinois. Building on its current $231 million investment (2023-2025), the new plan includes key components: $11 million for residential EV charger rebates, $82 million for business fleet EV purchases, $44 million for charging infrastructure, and additional funding for education and R&D. Since February 2024, ComEd has supported nearly 5,000 EV charging ports and 1,000 fleet vehicles, with over 70% of rebates benefiting low-income communities. The plan aims to reduce emissions, improve air quality, and ensure equitable access to electrification benefits across northern Illinois.

ComEd, a unit of Exelon (NASDAQ: EXC), has launched its new EV Ambassador Program to promote electric vehicle adoption in northern Illinois. The program partners with three local organizations: Equiticity, Bronzeville Community Development Partnership, and A Step Beyond NFP. This initiative is part of ComEd's broader Beneficial Electrification Plan, which extends through 2028. The company has committed $100 million in rebates for 2025 to support EV adoption, covering residential charger installation, fleet vehicles, and business charging infrastructure. Notable achievements include $30 million in rebates awarded this year, funding nearly 5,000 charging ports and incentivizing almost 1,000 electric fleet vehicles. Significantly, 85% of funds have been awarded to equity investment eligible communities, demonstrating ComEd's commitment to equitable EV adoption.

ComEd, a unit of Exelon Corporation (NASDAQ: EXC), celebrated the graduation of nearly a dozen participants from its first Skilled Cohort in Rockford, part of its Market Development Initiative (MDI). The 5-week program, launched in early 2024, provides free training in energy efficiency skills, including certifications in building standards, HVAC, and weatherization.

The MDI program has graduated 80 participants across five cohorts since its inception. The initiative aims to create a diverse, local workforce for the growing energy efficiency industry, supporting projects arising from Illinois' Climate and Equitable Jobs Act. ComEd's Energy Efficiency Program has helped customers save over $11 billion on energy bills and reduce 74 billion pounds of carbon emissions since 2008.

ComEd and the American Society of Mechanical Engineers (ASME) have concluded the fourth year of their DropMEin! program, welcoming over 100 elementary students to ComEd's Chicago Training Center. The STEM initiative connects engineers and STEM professionals with students to enhance curriculum and inspire future workforce development in Illinois. The 2025 program partnered with three schools - Bronzeville Classical Academy, STEAM Academy at Haskell Elementary, and Thurgood Marshall Middle School - focusing on power distribution, energy sustainability, and STEM career paths. The program has reached over 4,000 K-12 students nationally in 2024/2025, with 84% of participating schools qualifying for Title 1 federal funding. ComEd's involvement is part of its broader initiative to prepare students for the clean-energy transition through various STEM programs including STEM Labs, Construct Youth Academy, Tools of the Trade, and Future of Energy Scholarships.

PECO, an Exelon company (Nasdaq: EXC), announced the retirement of President and CEO David Velazquez, effective July 1, after more than 40 years of service. David Vahos has been appointed as the new President and CEO, effective June 1, and will join Exelon's Executive Committee.

Vahos brings over 30 years of financial and operational leadership experience, most recently serving as senior vice president, CFO and treasurer of Exelon subsidiary Pepco Holdings. A Villanova University graduate with an MBA from Johns Hopkins, Vahos previously held leadership roles at Baltimore Gas and Electric and is actively involved in civic and nonprofit organizations, including serving as a founding board member of ALPFA Baltimore Chapter.

Exelon (NASDAQ: EXC) has opened applications for its 2026 Climate Change Investment Initiative (2c2i), accepting submissions through September 15, 2025. The program, launched in 2019, combines the Exelon Foundation's environmental objectives with venture capital investment approaches. The initiative currently has 34 active portfolio companies, with 15 headquartered in Exelon's footprint. Three new companies were recently selected: Salient Predictions (weather forecasting), SusMaX (coal ash recycling), and Zero Homes (heat pump design platform). To qualify, startups must benefit Exelon's six major markets and focus on greenhouse gas mitigation, urban infrastructure resilience, climate adaptation, or sustainability goals. The program demonstrates success through companies like Carbon Reform, which installed its CO₂ capture technology at Exelon's BGE Spring Garden building. Exelon maintains a $20 million commitment to support innovative climate-focused startups.