|Traded as||NYSE: EXC
S&P 500 Component
|Founded||Merger of PECO Energy and Unicom in 2000|
Chicago, Illinois, United States
|Key people||Christopher Crane
(President and CEO)
|Services||Electricity and natural gas distribution|
|Revenue||US$ 18.9 billion (2011)|
|Operating income||US$ 4.5 billion (2011)|
|Net income||US$ 2.5 billion (2011)|
|Total assets||US$ 55.1 billion (2011)|
|Total equity||US$ 14.4 billion (2011)|
Exelon Corporation is an American energy producer, trader, and distributor headquartered in the Chase Tower in the Chicago Loop area of Chicago, Illinois, United States. It was created in October 2000 by the merger of PECO Energy Company and Unicom, of Philadelphia and Chicago respectively. Unicom owned Commonwealth Edison. Exelon operates regulated utilities in Illinois, Pennsylvania, and Maryland. In October 2009, Exelon had full or majority ownership of 17 nuclear reactors in 10 nuclear power plants. Exelon has operations and business activities in 47 states, the District of Columbia and Canada and is the largest competitive U.S. power generator with approximately 35,000 megawatts of owned capacity. Exelon merged with Constellation Energy Group in March 2012.
- 1 History
- 2 Exelon Companies
- 2.1 Generation
- 2.2 Competitive Energy Sales
- 2.3 Transmission and Delivery
- 3 Political activity
- 4 Pollution, security incidents
- 5 Restatement
- 6 References
- 7 External links
On June 30, 2005 the Federal Energy Regulatory Commission approved the merger of Exelon and Public Service Enterprise Group Inc., a New Jersey utility. Under this merger, Exelon would have become the largest utility in the United States. The two companies later broke off the agreement due to pressure put on the NJ Board of Public Utilities by public interest groups, including New Jersey Citizen Action. The merger sat pending in front of the NJBPU for nineteen months before Exelon concluded that they were fighting a losing battle. On April 28, 2011 Exelon announced a merger with Constellation Energy for $7.9 billion with the combined company will own more than 34 gigawatts of power generation (55 percent nuclear, 24 percent natural gas, 8 percent renewable including hydro, 7 percent oil and 6 percent coal). The merger was completed on March 12, 2012.
In 2012, when announcing the cancellation of new nuclear construction for Victoria County Station, Texas, Exelon stated that economic and market conditions, especially low natural gas prices, made the "construction of new merchant nuclear power plants in competitive markets uneconomical now and for the foreseeable future".
Exelon is a leading nuclear power plant operator in the United States through Exelon Nuclear Partners, a division of Exelon Generation.
- Braidwood Nuclear Generating Station (Illinois)
- Byron Nuclear Generating Station (Illinois)
- Clinton Nuclear Generating Station (Illinois)
- Dresden Generating Station (Illinois)
- Fort Calhoun Nuclear Generating Station (Nebraska) (operator)
- LaSalle County Nuclear Generating Station (Illinois)
- Limerick Nuclear Power Plant (Pennsylvania)
- Oyster Creek Nuclear Generating Station (New Jersey)
- Peach Bottom Atomic Power Station (Pennsylvania)
- Quad Cities Nuclear Generating Station (Illinois)
- Salem Nuclear Power Plant (New Jersey) (Minority Owner)
- Three Mile Island Nuclear Generating Station (Pennsylvania)
- Zion Nuclear Power Station (Illinois) (reactors inactive)
- Calvert Cliffs Nuclear Power Plant (Maryland) (Joint Venture with EDF)
- Ginna Nuclear Generating Station (New York) (Joint Venture with EDF)
- Nine Mile Point Nuclear Generating Station (New York) (Joint Venture with EDF)
- Conemaugh Generating Station (Pennsylvania) (Minority Owner)
- Keystone Generating Station (Pennsylvania) (Minority Owner)
- Colorado Bend Energy Center (Texas)
- Quail Run Energy Center (Texas)
Other sites in:
- Mountaineer Wind Energy Center (West Virginia)
- Somerset Wind Farm (Pennsylvania) *Contracted 
- Waymart Wind Energy Center (Pennsylvania)
- Exelon Wind (sites in Idaho, Illinois, Kansas, Michigan, Missouri, Minnesota, Oregon, Texas)
Exelon PowerLabs, LLC
Exelon PowerLabs, LLC (a wholly owned subsidiary of Exelon Generation) operates at 4 locations nationwide. The Plattsburgh, New York and Madison, Pennsylvania facilities specialize in calibration; the Wilmington, Illinois facility specializes in failure analysis and component testing; while the Coatesville, Pennsylvania location provides all services. The quality system is ISO 9001:2000 registered for both the Plattsburgh and Coatesville facilities. The Coatesville, Plattsburgh, and Madison facilities are also ISO/IEC 17025 accredited through the American Association for Laboratory Accreditation (A2LA). Exelon PowerLabs has been operating since 1911.
Competitive Energy Sales
Constellation, an Exelon Company, provides energy sales in deregulated markets to business, residential, and government customers across the United States. Their customers include two thirds of Fortune 100 companies.
Transmission and Delivery
Baltimore Gas and Electric
Philadelphia Electric Company
Exelon Transmission Company
Exelon's Political Action Committee (PAC) is EXELONPAC. The company is positioned to profit from "expensive carbon" and has been lobbying for cap and trade of carbon dioxide emissions. "Exelon CEO John Rowe is a vociferous and longtime advocate of climate change legislation. In 2009, Forbes reported that if the Waxman-Markey climate legislation became law, 'the present value of Exelon's earnings stream would increase by $14 a share, or 28%.'" Executives at the company have close ties to the Obama administration as advisors and fundraisers.
Pollution, security incidents
In 2005, Exelon was required to pay a $602,000 fine for exceeding the permitted sulfur dioxide emission limit from April to October 2004 at its Cromby Generating Station in Chester County, Pennsylvania.
Exelon and Illinois state officials waited for four years until 2006 before disclosing that Exelon's Braidwood Nuclear Generating Station, a nuclear plant 60 miles southwest of Chicago, had spilled millions of gallons of water containing tritium, 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.
In 2009, the Nuclear Regulatory Commission announced its plan for a $65,000 fine against Exelon for permitting its contracted security guards that were guarding its Peach 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. As a result, Exelon terminated the security contract of the Wackenhut security firm that had been involved and now operates its own in-house nuclear security force.
On January 28, 2002, Exelon Corp. said it would restate downward its third-quarter earnings to reflect what it termed an error in the amount of realized losses recorded by a fund set up to pay for the eventual closure of its nuclear-power plants.
On October 18, 2002, Exelon Corp. (EXC) raised its third-quarter operating earnings estimate, and in a separate action said it would restate other comprehensive income in previously reported results.
- "Exelon Financials".
- "Exelon Corporation About Us".
- John W. Rowe (October 29, 2009). "Testimony of John W. Rowe Chairman and Chief Executive Officer Exelon Corporation Before the Committee on Environment and Public Works United States Senate". United States Senate. Retrieved August 13, 2010.
- "Constellation-Exelon merger complete". Retrieved 17 December 2012.
- "FERC approves Exelon-PSEG deal - Business - Oil & energy - msnbc.com". MSNBC. 2005-06-30. Retrieved 2012-04-21.
- Press Releases[dead link]
- "NJCA in the News". Njcitizenaction.org. 2006-09-27. Retrieved 2012-04-21.
- "Exelon, Constellation Energy to merge". HydroWorld (PennWell Corporation). 2011-04-28. Retrieved 2011-04-28.
- Erman, Michael. "Exelon to buy Constellation Energy for $7.9 billion". Reuters.com. Retrieved 2012-04-21.
- "Exelon scraps Texas reactor project". Nuclear Engineering International. 29 August 2012. Retrieved 14 September 2012.
- Carney, Timothy (2011-03-30) Obama's friends turn radioactive after Japan accident, Washington Examiner
- "Chicago Exelon City Solar Plant". Exeloncorp.com. Retrieved 2012-04-21.
- "Exelon Wind". Exelon. Retrieved 17 December 2012.
- "Exelon PowerLabs Quality". Retrieved 17 December 2012.
- "Exelon PowerLabs Home". Retrieved 17 December 2012.
- "Constellation". Retrieved 17 December 2012.
- "Exelon Transmission Company". Retrieved 17 December 2012.
- "Exelon Transmission Company". Retrieved 17 December 2012.
- "RITELine Transmission". Retrieved 17 December 2012.
- "Exelon Corp". OpenSecrets. Retrieved 2012-04-21.
- Jonathan Fahey [The Carbon Windfall]; Exelon's John Rowe has been planning for expensive carbon for a decade. Now it's time to push for the payoff pages 70-74 January 18, 2010 Forbes
- "AmeriScan: June 30, 2005". Ens-newswire.com. Retrieved 2012-04-21.
- "RedOrbit.com, Exelon admits its fault". Redorbit.com. 2006-01-26. Retrieved 2012-04-21.
- Nuclear Regulatory Commission news release[dead link]
- "Business Brief -- Exelon Corp.: Third-Period Net Is Restated For Error in Losses of a Fund".
- "Exelon Corp Sees Strong Third Quarter".
- Exelon Corporation website
- Constellation website
- BGE website
- ComEd website
- PECO website
- Exelon PowerLabs website