NextEra Energy Transmission and Exelon Power Pennsylvania and West Virginia's Energy Future

Rhea-AI Summary

NextEra Energy Transmission and Exelon (EXC) were recommended by PJM Interconnection on Dec. 8, 2025, to deliver an approximately 220-mile 765-kV high-voltage transmission line serving Pennsylvania and parts of West Virginia.

The proposed bi-directional line would facilitate about 7 GW of power, reportedly transfer 2–3x more power than 500-kV lines, reduce transmission losses by 50%, and support regional investments including a $92 billion Pennsylvania power program and West Virginia initiatives. The PJM Board will cast a final vote in early 2026.

Positive

• 220-mile 765-kV transmission line proposed
• Project would facilitate approximately 7 GW of power
• Transmission losses claimed to be reduced by 50%
• Supports Pennsylvania's $92 billion power investment

Negative

• Project still requires final PJM Board approval in early 2026
• Proposed status means the line is not yet under construction or in service

Key Figures

Transmission line length approximately 220 miles Proposed 765-kV high voltage transmission project

Line voltage 765 kilovolts (kV) High voltage transmission line specification

Transfer capacity vs 500-kV 2–3 times more power Relative capacity of 765-kV lines vs 500-kV

Transmission loss reduction 50% Reduction in transmission losses vs 500-kV lines

Power facilitated approximately 7 GW Bi-directional 765-kV superhighway capacity

Pennsylvania investment $92 billion Investment in new power generation across Pennsylvania

West Virginia power plan 50 GW by 2050 State plan for coal, natural gas and workforce development

West Virginia investments $4.2 billion Investments announced toward the 50 GW by 2050 plan

Market Reality Check

$80.55 Last Close

Volume Volume 7,450,816 is at 0.91x the 20-day average of 8,157,479. normal

Technical Price 43.81 is trading slightly below the 200-day MA of 44.67.

Peers on Argus

EXC slipped -0.23% with mixed peers: most large regulated utilities like XEL, D, PEG, and WEC were modestly negative while ETR was slightly positive, suggesting stock-specific rather than broad sector momentum.

Common Catalyst Peer news from D and PEG also focused on customer and community-oriented utility initiatives, indicating a broader emphasis on reliability and support rather than pure market-driven catalysts.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 04	Customer discount plan	Positive	-1.4%	Announcement of multi-tier low-income electric bill discount program starting 2026.
Dec 03	Customer bill credits	Positive	-1.0%	Plan to return over $803 million to customers via automatic bill credits.
Dec 01	Convertible notes priced	Negative	-1.5%	Pricing of $900 million 3.25% convertible senior notes due 2029.
Dec 01	Convertible notes proposed	Negative	-3.0%	Proposed $900 million convertible senior notes offering for debt repayment purposes.
Nov 24	Workforce award news	Positive	+1.1%	National recognition for clean energy workforce training Power Up Academy program.

Pattern Detected

Financing announcements have aligned with negative price reactions, while customer and community initiatives have shown mixed alignment, sometimes seeing short-term share price weakness despite constructive headlines.

Recent Company History

Over the past few weeks, EXC news has covered customer relief programs, community workforce recognition, and a sizable $900 million convertible note financing. Customer-focused items like returning over $803 million in bill credits and launching a low-income discount program saw modest share declines, while recognition for clean energy workforce training coincided with a +1.05% move. The recent convertible note offering and pricing aligned with more negative reactions of -3.03% and -1.51%, respectively. Today’s transmission project news fits into the theme of grid investment and regional reliability.

Market Pulse Summary

This announcement centers on PJM’s recommendation of a roughly 220-mile, 765-kV transmission project jointly involving Exelon, designed to move about 7 GW of power and reduce losses by 50% versus 500-kV lines. It ties into Pennsylvania’s broader $92 billion generation investment and West Virginia’s $4.2 billion initiative. Investors may watch for PJM’s early 2026 approval decision, permitting milestones, and clarity on capital allocation and cost recovery frameworks.

Jargon Translator

kilovolt (kv)

A kilovolt (kV) is a unit of electrical voltage equal to 1,000 volts and measures the force that pushes electric current through a system—think of it like water pressure pushing flow through a pipe. For investors, kV ratings indicate the scale and capacity of power equipment and transmission lines: higher voltages enable long-distance delivery and larger loads but bring greater engineering complexity, cost, safety needs and regulatory oversight that affect project economics and risk.

AI-generated analysis. Not financial advice.

JUNO BEACH, Fla. and CHICAGO, Dec. 8, 2025 /PRNewswire/ -- The regional grid operator, PJM Interconnection, has recommended NextEra Energy Transmission and Exelon to deliver a critical energy infrastructure project as part of its 2025 Regional Transmission Expansion Plan. The approximately 220-mile 765-kilovolt (kV) high voltage transmission line is designed to support safe, reliable and affordable energy for families and communities across Pennsylvania and parts of West Virginia and spur significant economic growth. The transmission line would connect to substations that supply electricity to residents and businesses across the region. 

A word from John Ketchum, NextEra Energy chairman and CEO: "We're proud to invest in American energy dominance. Together with Exelon, we're delivering a stronger, more resilient grid that improves access to low-cost energy for millions of families and businesses across Pennsylvania and West Virginia. This critical project will power communities for decades to come, and we are committed to working closely with those communities along the proposed line to enable the many project benefits." 

A word from Calvin Butler, Exelon president and CEO: "Our collaboration marks a pivotal moment for our region's energy future. At Exelon, we're proud to join forces with NextEra Energy Transmission to deliver a project that will ensure reliable, affordable power for families and businesses across Pennsylvania and West Virginia, strengthen our grid and drive forward economic growth. We stand committed to working hand-in-hand with local communities, ensuring we provide our customers the energy they need and deserve." 

A word from Senator Dave McCormick (R-PA): "Pennsylvania has an extraordinary opportunity to lead the energy and AI revolution. By strengthening our power infrastructure, we're ensuring Pennsylvanians can seize this moment. This project will help deliver abundant, reliable power to communities, stabilize electricity prices, create jobs and position us to power the types of investments announced at the Energy and Innovation Summit in Pittsburgh earlier this year, which will drive our economic growth for decades to come."

Powering safe and reliable electricity: 765-kV lines transfer 2–3 times more power than 500-kV lines while reducing transmission losses by 50%.

• Improved resilience during peak demand helps lower electricity costs.
• Smaller environmental footprint, as fewer towers are required compared with equivalent transmission structures.

Driving economic growth: The proposed bi-directional 765-kV superhighway would facilitate approximately 7 gigawatts (GW) of power. This is a decisive competitive advantage for attracting industrial investments and major employers, creating thousands of permanent jobs. The transmission line:

• Supports Pennsylvania's $92 billion investment in new power generation across the Commonwealth as announced earlier this year by President Trump, Senator McCormick and Governor Shapiro. 
• Supports West Virginia Governor Morrisey's 50 GW by 2050 plan to invest in coal, natural gas and workforce development and continue the state's legacy as America's energy powerhouse. In November, Governor Morrisey announced $4.2 billion in investments toward his vision.

Next steps: The PJM Board's final vote to approve the transmission project will be in early 2026. NextEra Energy Transmission and Exelon look forward to working with stakeholders to bring this transformative project into service. 

About NextEra Energy
NextEra Energy, Inc. (NYSE: NEE) is one of the largest electric power and energy infrastructure companies in North America and is a leading provider of electricity to American homes and businesses. Headquartered in Juno Beach, Florida, NextEra Energy is a Fortune 200 company that owns Florida Power & Light Company, America's largest electric utility, which provides reliable electricity to approximately 12 million people across Florida. NextEra Energy also owns one of the largest energy infrastructure development companies in the U.S., NextEra Energy Resources, LLC. NextEra Energy and its affiliated entities are meeting America's growing energy needs with a diverse mix of energy sources, including natural gas, nuclear, renewable energy and battery storage. For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.

About NextEra Energy Transmission
NextEra Energy Transmission, LLC is North America's leading competitive transmission company. With more than 3,100 miles of transmission lines in operation and development in 18 states and Canada, the company is strengthening and modernizing the electric grid to meet the country's growing energy needs. NextEra Energy Transmission owns, develops, finances, constructs, operates and maintains transmission assets across the continent. The company operates through its regional subsidiaries to integrate diverse energy sources. NextEra Energy Transmission, LLC is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. For more information, visit www.NextEraEnergyTransmission.com. 

About Exelon
Exelon (NYSE: EXC) is a Fortune 200 company and one of the nation's largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. For more information about Exelon, visit: https://www.exeloncorp.com.

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SOURCE NextEra Energy, Inc.; Exelon

FAQ

What did NextEra Energy Transmission and Exelon announce about the Pennsylvania transmission project on Dec. 8, 2025 (EXC)?

PJM recommended the companies deliver an approximately 220-mile 765-kV transmission line to serve Pennsylvania and parts of West Virginia.

How much power would the proposed EXC-linked 765-kV line facilitate?

The announcement says the bi-directional superhighway would facilitate about 7 GW of power.

When will PJM make the final decision on the EXC/NextEra transmission project?

The PJM Board is scheduled to hold a final vote in early 2026.

What efficiency gains did the Dec. 8, 2025 announcement claim for the 765-kV line (EXC)?

The release states 765-kV lines transfer 2–3 times more power than 500-kV lines and reduce transmission losses by 50%.

How does the project relate to Pennsylvania's $92 billion energy investment referenced on Dec. 8, 2025 (EXC)?

The transmission line was described as supporting Pennsylvania's $92 billion investment in new power generation.