 | |
 Exelon's headquarters inChase Tower | |
| Company type | Public |
|---|---|
| |
| Industry | Public utility |
| Predecessor | |
| Founded | October 20, 2000; 24 years ago (2000-10-20); by merger |
| Headquarters | , U.S. |
Key people | Calvin Butler (president andCEO) |
| Products | |
| Services | Electricity and natural gas distribution |
| Revenue |  US$23.03 billion (2024) |
| US$4.319 billion (2024) | |
| US$2.460 billion (2024) | |
| Total assets | US$107.8 billion (2024) |
| Total equity | US$26.92 billion (2024) |
Number of employees | 20,014 (2024) |
| Subsidiaries | |
| Website | exeloncorp |
| Footnotes / references [1] | |
Exelon Corporation is an Americanpublic utility headquartered inChicago, and incorporated inPennsylvania.[1] Exelon is the largest electric parent company in the United States by revenue and is the largest regulated electric utility in the United States with approximately 10 million customers. The company is ranked 99th on theFortune 500.[2]
Exelon owns six regulated utilities:Atlantic City Electric (New Jersey),Commonwealth Edison (Illinois),PECO Energy Company (Pennsylvania),Baltimore Gas and Electric (Maryland),Delmarva Power and Light (Delaware andMaryland), andPepco (Washington, DC andMaryland).[1]
Exelon Corporation was created in October 2000 by the merger between PECO Energy Company, formed in 1902, and Unicom Corporation, the parent ofCommonwealth Edison, formed in 1907.[3] Unicom was based in Chicago and the city became the headquarters of the new entity. The merger was overseen by the CEO of Unicom, John Rowe, who joined the corporation in 1998 and led the newly formed Exelon until 2012, becoming the nation's longest-serving utility executive.[4][3][5]
On July 31, 2005, theFederal Energy Regulatory Commission approved the merger of Exelon andPublic Service Enterprise Group, aNew Jersey utility;[6] however, after 18 months, the two companies terminated the agreement due to pressure put on theNew Jersey Board of Public Utilities by public interest groups, including New Jersey Citizen Action.[7][8]
On March 12, 2012, Exelon acquiredConstellation Energy, with the combined company owning more than 34 gigawatts of power generation (55% nuclear, 24% natural gas, 8% renewable including hydro, 7% oil and 6% coal).[9][10]
Exelon announced the proposed purchase ofPepco Holdings on April 30, 2014, for $6.8 billion in an all-cash transaction. The merger faced stiff opposition from community groups and D.C. MayorMuriel Bowser.[11] The merger was originally rejected by theDistrict of Columbia Public Service Commission in August 2015, though it was approved by other federal and state regulators. The companies appealed the decision.[12] On March 23, 2016, the merger was finally approved by theDistrict of Columbia Public Service Commission after the company made concessions and the merger was completed, making Exelon the largest regulated utility in the United States by customer count and total revenue.[13]
On February 2, 2022, Exelon completed thecorporate spin-off ofConstellation Energy, its energy generation business.[14] Constellation was the largest operator of nuclear power plants in the United States and the largest non-governmental operator of nuclear power plants in the world. It is also the largest competitive U.S. power generator with approximately 35,500 megawatts of owned capacity. It had full or majority ownership of 23nuclear reactors in 14nuclear power plants.[15][16]
In the 1970s, activists delayed the opening of nuclear power plants byPECO Energy.[17]
In 2015, Earth Quaker Action Team began a campaign to pressure PECO to expand the solar power it purchases, and to purchase it locally to create jobs.[18]
In 2005, Exelon was required to pay a $602,000 fine for exceeding the permittedsulfur dioxide emission limit from April to October 2004 at its Cromby Generating Station inChester County, Pennsylvania.
Exelon and Illinois state officials waited for four years until 2006 before disclosing that Exelon'sBraidwood Nuclear Generating Station, a nuclear plant 60 miles southwest of Chicago, had spilled millions of gallons of water containingtritium, a radioactive form of hydrogen, multiple times over a decade. Exelon officials eventually apologized and said the risks from the leak were "minimal", with tritium levels in surrounding wells all found to be below regulatory limits.[19][20]
In 2009, theNuclear Regulatory Commission announced its plan for a $65,000 fine against Exelon for permitting its contracted security guards that were guarding itsPeach Bottom Nuclear Generating Station, a two-reactor nuclear plant located in Delta, Pennsylvania, to sleep on the job. The incidents did not come to light until a videotape of the security guards was leaked to news media.[21] As a result, Exelon terminated the security contract of theWackenhut security firm that had been involved and now operates its own in-house nuclear security force.[22]
Exelon makes political contributions via itspolitical action committee (PAC), EXELONPAC. In 2021 and 2022, it contributed $323,500 to federal candidates, including $202,500 toDemocrats and $121,000 toRepublicans.[23] In 2022, it spent $2,878,000 onlobbying.[24]
| Year | Revenue in mil. USD$ | Net income in mil. USD$ | Total Assets in mil. USD$ | Price per Share in USD$ | Employees |
|---|---|---|---|---|---|
| 2005 | 15,357 | 923 | 42,797 | 29.47 | |
| 2006 | 15,655 | 1,592 | 44,319 | 35.51 | |
| 2007 | 18,916 | 2,736 | 45,361 | 46.22 | |
| 2008 | 18,859 | 2,737 | 47,546 | 47.42 | |
| 2009 | 17,318 | 2,707 | 49,180 | 33.05 | |
| 2010 | 18,644 | 2,563 | 52,240 | 29.73 | |
| 2011 | 19,063 | 2,495 | 54,995 | 31.27 | |
| 2012 | 23,489 | 1,160 | 78,561 | 28.50 | |
| 2013 | 24,888 | 1,719 | 79,924 | 25.47 | 25,829 |
| 2014 | 27,429 | 1,623 | 86,416 | 28.73 | 28,993 |
| 2015 | 29,447 | 2,269 | 95,384 | 28.41 | 29,762 |
| 2016 | 31,360 | 1,134 | 114,904 | 31.09 | 34,396 |
| 2017 | 33,531 | 3,770 | 116,700 | 35.78 | 34,621 |
| International | |
|---|---|
| National | |
