ADVFN - Advanced Financial Network.
HOME» NYSE » E » EXC Stock Price » EXC Stock News

Exelon Share News

 Exelon Corp. Stock Price
EXC Stock Price
 Exelon Corp. Stock Chart
EXC Stock Chart
 Exelon Corp. Stock News
EXC Stock News
 Exelon Corp. Company Information
EXC Company Information
 Exelon Corp. Stock Trades
EXC Stock Trades

CORRECT: Exelon CEO: Gas, Power Prices in Trough, but Recovery Ahead

("Exelon CEO: Gas, Power Prices in Trough, but Recovery Ahead," at 10:10 a.m. EDT, misstated the stock price in the seventh paragraph. The correct version follows:) By Cassandra Sweet NEW YORK--U.S. natural gas prices, which have pulled power prices to historic lows, are likely to bounce back by 2014 and benefit power sellers, Exelon Corp.'s (EXC) top executive said Thursday. The low natural gas and power prices have pressured revenues and profits of power plant operators such as Exelon, forcing them to look for other businesses, such as selling electricity to retail customers, rather than the wholesale market, to earn better returns. U.S. natural gas prices are likely to rise to $4 a million British thermal units by 2014, pushing power prices higher and benefiting electricity providers, Exelon Chief Executive Christopher Crane said. "We're in a trough, but by 2014, we'll start to come back out of the position we're in, with gas prices around $4" a million BTUs, Mr. Crane said, speaking at a meeting with analysts. Exelon expects 2012 adjusted operating earnings of $2.55 to $2.85 a share, Mr. Crane said. Analysts surveyed by Thomson Reuters most recently estimated per-share earnings at $2.98. Shares of Exelon were recently trading 1.5% higher at about $38.03. The company is committed to providing a shareholder dividend of $2.10 a share, despite the difficult wholesale market, Mr. Crane said. He added that the dividend would "compensate investors during the market downturn." Exelon bought rival Constellation Energy in March, bringing in that company's Baltimore Gas & Electric and PECO utilities, its fleet of nuclear and other power plants, and its retail electricity business that operates in states with deregulated power markets. The new, larger company has $74.5 billion in assets, $32.7 billion of 2011 revenue, about 35 gigawatts of power plant generation, and about 6.6 million utility customers, the company said Thursday. The company expects about half its cash flow and revenue to come from its utilities and about half to come from its power plants, Mr. Crane said. Exelon also expects to cut costs within the combined company, use project financing for renewable-power projects and defer some generation growth projects until the wholesale market improves. Exelon has the largest merchant generation power plant fleet in the U.S. and it is the nation's largest operator of nuclear power plants. In addition to the other utilities, Exelon owns Chicago-based utility Commonwealth Edison. The company had a market capitalization of about $32 billion as of Thursday. Write to Cassandra Sweet at cassandra.sweet@dowjones.com

Stock News for Exelon (EXC)
DateTimeHeadline
06/30/201513:00:00ComEd Launches Summer Internship Program Providing Job Training...
06/29/201514:06:00Exelon Generation's New Maryland Natural Gas Power Plant Now...
06/26/201509:58:00City of Cleveland Selects Constellation as Electricity Supplier
06/25/201514:32:00Icebox Derby Challenges Teen Girls to Build Racecars from Recycled...
06/24/201514:36:00New Exelon Report Shows Company’s Transition to Sustainable E...
06/22/201517:35:00Customers can Win Cool and Unique Experiences With PECO's Coolest...
06/19/201509:24:00PECO Helps Seniors Beat the Heat and Stay Safe and Cool This...
06/18/201508:00:00Exelon Hosts Innovation Expo Focused on the Digital Worker
06/17/201515:45:00Electric System Enhancements Help Keep the Lights on for PECO...
06/16/201510:00:00June is National Safety Month & PECO Offers Tips to Help Customers...
06/16/201510:00:00June is National Safety Month & BGE Offers Tips to Help Customers...
06/15/201515:52:00Statewide Emergency Exercise Preps Agencies for Severe Weather...
06/15/201513:04:02Stocks to Watch in Nuclear
06/10/201514:49:00Photo Advisory: Constellation Employees Join Habitat for Humanity...
06/10/201510:49:00Lifetime TV Features Constellation on Designing Spaces®
06/10/201510:00:00Exelon Recognized for Sustainability Leadership in 2015 Newsweek...
06/10/201508:00:00Eight Utilities and Energy Companies Announce Plans for Critical...
06/09/201508:55:00Exelon Recognizes Top Banks, Insurance Companies and Professional...
06/04/201514:16:00New Underground Mechanics Join PECO's Field Force
06/02/201515:17:00Delaware Public Service Commissioner Issues Order Approving Exelon...

Exelon and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad