Exelon Corporation is a leading American energy provider, based in Chicago, Illinois. It is a utility services holding company that operates in the energy generation business and the energy delivery businesses, through:
Generation – operates in wholesale energy and retail customer supply of electric and natural gas products and services, risk management services and natural gas exploration and production.
PECO – sells electricity and natural gas, in addition to offering transmission and distribution services to retail customers in southeastern Pennsylvania.
ComEd – sells electricity and provides transmission and distribution services to retail customers in northern Illinois
BGE – sells electricity and natural gas, in addition to offering transmission and distribution services to retail customers in central Maryland and the city of Baltimore.
Part of Exelon Generation, Constellation is the company’s retail and wholesale energy business. Constellation is based in Baltimore and serves more than 2.5 million residential, public sector and business customers.
The company is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘EXC’.
Exelon offers its products and services to customers across 48 states, DC, and Canada. With strong positions in the Midwest, Mid-Atlantic, Texas and California.
It is America’s second-largest regulated distributor of electricity and gas, with over 7.8 million customers across Illinois, Pennsylvania, and Maryland, serving a population of 15.4 million people.
The company owns around 35,000 megawatts of power generation and operates one of the country’s largest nuclear fleet of more than 19,000 megawatts. It generates energy via nuclear, hydroelectric, fossil fuel, solar, and wind energy.
Exelon was incorporated in Pennsylvania in February 1999. In 2012 Exelon merged with Constellation Energy for $7.9 billion and on April 30, 2014 Exelon announced a proposal to purchase Pepco Holdings, Inc.
Exelon’s campaign against bipartisan support for wind energy
Exelon has aggressively campaigned against bipartisan support for wind energy in the US, saying that the renewable Production Tax Credit frequently causes occurrences of negative electricity prices at its nuclear power stations.
However, data released by the American Wind Energy Association (AWEA), showed that wind energy reduces energy bills through market competition, refuting the claims made by Exelon.
Michael Goggin, study author and AWEA’s Senior Electric Industry Analyst, said:
“The evidence tells a different story.”
History of Exelon
The Federal Energy Regulatory Commission gave the green light for the merger of Exelon and Public Service Enterprise Group Inc. (a New Jersey utility) on June 30, 2005.
If this merger went through then Exelon would have become the largest utility company in American. However, the companies broke off the deal because of pressure from public interest groups. The merger was held pending in front of the NJ Board of Public Utilities for nineteen months. As a result, the merger never completed.
Exelon announced that it was going to merge with Constellation Energy for $7.9 billion on April 28, 2011. The deal was completed on March 12, 2012.
Exelon’s Vision
According to the company:
“Our commitment to excellence in everything we do means that we are driven to learn and grow, challenging ourselves to constantly adapt, enhance and advance.
Every day we focus on maximizing the potential of energy. Safely. Reliably. Sustainably. We vigorously compete to give our customers greater choice and value, and drive innovations that help businesses function more effectively and help people live better. Our end-to-end perspective across the energy business, coupled with our ingenuity and commitment, gives us the insight to seize the opportunities of today, while maintaining the focus and long-term view to tackle the challenges of tomorrow.
We make energy work harder because we believe that clean, affordable energy is the key to a brighter, more sustainable future—where our customers succeed, our communities thrive and our nation prospers.”
Clean energy initiative
Exelon has stated that it believes that clean and affordable energy is the answer to a more sustainable future. The company claims to have one of the country’s cleanest and lowest-cost power generation portfolios, with 55 percent nuclear, 22 percent nuclear gas, and over 10 percent wind, solar, and hydro generation.
Exelon 2020 is the company’s aim to eliminate greenhouse gas emissions, a commitment to a clean energy future.
On April 23, 2014, the company announced that it reduced or avoided more than 18 million metric tons of greenhouse gas (GHG) emissions in 2013, ahead of its goal of eliminating 17.5 million metric tons of greenhouse gas (GHG) emissions per year by 2020.
Exelon Corporation – Live Stock Market Data
Exelon Corporation – Live Stock Market Data
- President and CEO: Crane, Christopher M.
- Type: Public
- Industry: Electric and Gas
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: EXC
- S&P 500 Component
- Revenue: $24.8 billion USD (2013)
- Net income: $1.729 billion USD (2013)
- Diluted earnings per share: $2.00 USD (2013)
- Founded: 1999
- Employees: 25,829 (2013)
- Corporate headquarters: 10 South Dearborn Street, P.O. Box 805379, Chicago, Illinois, USA
- Corporate contact number: (312) 394-7398
- Investor relations contact number: (312) 394-2345
- Investor relations email address: [email protected]
- Website: http://www.exeloncorp.com/
Exelon Corporation – Financial Results
| Operating data (in $ millions) | 2013 | 2012 |
| Revenues | $24,888 | $23,489 |
| Total operating expenses | $21,242 | $21,018 |
| Operating income | $3,656 | $2,380 |
| Income before income taxes | $2,773 | $1,798 |
| Income taxes | $1,044 | $627 |
| Net income | $1,729 | $1,171 |
| Balance sheet data (in $ millions) | ||
| Total assets | $79,924 | $78,561 |
| Long-term debt | $17,325 | $17,190 |
| Total stockholders’ equity | $22,732 | $21,431 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $6,343 | $6,131 |
| Net cash used in investing activities | $(5,394) | $(4,576) |
| Net cash used in financing activities | $(826) | $(1,085) |
| Cash and cash equivalents at end of period | $1,609 | $1,486 |
| Common share data (in $) | ||
| Basic earnings (loss) per common share | $2.01 | $1.42 |
| Diluted earnings (loss) per common share | $2.00 | $1.42 |
Source: “Exelon Corporation 2013 Annual Report”