Exelon

This article is about an energy company. For the Alzheimer's medication, see Rivastigmine.

Exelon Corporation

Type	Public
Traded as	NYSE: EXC S&P 500 Component
Industry	Electric Utility
Founded	Merger of PECO Energy and Unicom in 2000
Headquarters	Chicago, Illinois, U.S.
Key people	John W. Rowe (Chairman, President and CEO)
Products	Electricity Natural gas
Revenue	US$ 18.644 billion (2010)
Operating income	US$ 4.726 billion (2010)
Net income	US$ 2.563 billion (2010)
Total assets	US$ 52.240 billion (2010)
Total equity	US$ 13.560 billion (2010)
Employees	19,214 (2010)
Website	ExelonCorp.com

Chase Tower, the location of the headquarters of Exelon

Exelon Corporation (NYSE: EXC) is an electricity generating and distributing company headquartered in the Chase Tower in the Chicago Loop area of Chicago. 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 has 5.4 million electricity customers and serves 485,000 natural gas customers in the Philadelphia suburbs. In October, 2009 Exelon had full or majority ownership of 17 nuclear reactors in 10 nuclear power plants.

History

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 merger with Constellation Energy for $7.9 billion and 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).

Exelon facilities

Nuclear generation

Exelon is a leading nuclear power plant operator in the United States.

• Braidwood Nuclear Generating Station (Illinois)
• Byron Nuclear Generating Station (Illinois)
• Clinton Nuclear Generating Station (Illinois)
• Dresden Nuclear Power Plant (Illinois)
• 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)

Other generation

Hydro

• Conowingo Dam (Maryland)
• Muddy Run Pumped Storage Facility (Pennsylvania)

Fossil Fuel

Numerous sites in:

• Southeastern Pennsylvania
• Massachusetts
• Illinois
• Texas

Renewable

• Mountaineer Wind Energy Center (West Virginia)
• Somerset Wind Farm (Pennsylvania)^{[citation needed]}
• Waymart Wind Energy Center (Pennsylvania)
• West Pullman City Solar Plant (Chicago, Illinois)
• Exelon Wind (sites in ID, IL, KS, MI, MO, MN, OR, TX)

Other Business Units

• Exelon PowerLabs, LLC

Exelon PowerLabs, LLC (a wholly owned subsidiary of Exelon Generation) operates at 4 locations nationwide. The Plattsburgh, NY and Madison, PA facilities specialize in Calibration; the Wilmington, IL facility specializes in Failure Analysis and Component Testing; while the Coatesville, PA location provides all services. The Quality System is ISO 9001:2000 Registered for both the Plattsburgh, NY and Coatesville, PA facilities. The Coatesville and Plattsburgh facilities are also ISO 17025 accredited through the American Association for Laboratory Accreditation (A2LA).^{[citation needed]}

Exelon PowerLabs has been operating since 1911.^{[citation needed]}

Political activity

Chicago mayor, former Congressman and Obama Chief of Staff Rahm Emanuel was a "key player" representing Unicom Corp., the parent of Commonwealth Edison, in forging its merger with Peco Energy Co. to create utility giant Exelon Corp. in 1999 when Goldman Sachs was also advising Unicom. Additionally, "Obama's top political strategist, David Axelrod, was a consultant for Exelon."

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 -- supported by Obama -- 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. "Frank Clark, CEO of Exelon's Chicago-based subsidiary ComEd, was an Obama advisor and fundraiser, and Exelon director John Rogers has also raised funds for Obama."

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 southeast 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.

External links

• Exelon Corporation website
• Exelon PowerLabs website
• PECO website
• US Nuclear Regulatory Commission website