Exelon Analyst Day Outlines Long-Term Strategy to Grow the Utility Businesses, Build Value and Benefit Stakeholders
August 10 2016 - 8:00AM
Business Wire
Exelon today laid out its strategy to grow the business and
build value by substantially investing in its six electric and gas
utilities, maximizing the value of its industry-leading competitive
generation and retail businesses, and adopting innovative
technologies that will help to transform the energy industry.
Senior Exelon leaders outlined the strategy for the financial
community at the company’s Analyst Day in Philadelphia.
“We see incredible opportunity in the years ahead as Exelon
leads the transformation of our industry,” said Chris Crane, Exelon
president and CEO. “We serve more utility customers and produce
more clean energy than any other company nationwide, which gives us
a unique platform from which to grow our business and invest in
needed infrastructure and innovations to benefit our customers and
communities.”
Exelon will invest $25 billion on critical infrastructure, smart
grid technology and other reliability and customer service
improvements at its utilities over the next five years to benefit
its 10 million electric and gas customers. These investments will
drive utility earnings growth, representing a growing majority of
Exelon’s earnings through the remainder of the decade.
Revenue from Exelon Generation’s power plants, with 32,700
megawatts of capacity, will help fund investment at the utilities
and reduce debt. The company also continues to invest in technology
and best practices to drive efficiency in the generation fleet.
Exelon Generation’s nuclear fleet operates at an industry-leading
93 percent or higher capacity factor, a key measure of
efficiency.
Continued growth at Exelon’s Constellation unit, which serves 2
million residential, public sector and business customers, is also
helping to maximize the value of the Exelon Generation fleet by
matching the electricity produced to customer demand.
Exelon remains focused on advancing policy and market reforms to
preserve nuclear plants facing economic challenges as a result of
sustained low natural gas prices and policies that do not value
nuclear for its reliability and zero-carbon benefits.
“For the good of our employees, our customers, our communities
and the climate, we will keep working for solutions in all of our
states to preserve zero-carbon nuclear generation and promote the
advancement of clean energy,” Crane said. “But where we can’t see a
path to sustained profitability, we have no choice but to shut down
plants.”
The only Fortune 100 company in its sector, Exelon continues to
lead the transition to a clean energy future by fostering a culture
of innovation and partnering with top universities, national labs,
government agencies, venture capitalists and private equity firms
to unleash new technology that has the potential to transform the
business, provide greater benefits to customers and build long-term
value and growth.
Exelon Corporation (NYSE: EXC) is a Fortune 100 energy company
with the largest number of utility customers in the U.S. Exelon
does business in 48 states, the District of Columbia and Canada and
had 2015 revenue of $34.5 billion. Exelon’s six utilities deliver
electricity and natural gas to approximately 10 million customers
in Delaware, the District of Columbia, Illinois, Maryland, New
Jersey and Pennsylvania through its Atlantic City Electric, BGE,
ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one
of the largest competitive U.S. power generators, with more than
32,700 megawatts of nuclear, gas, wind, solar and hydroelectric
generating capacity comprising one of the nation’s cleanest and
lowest-cost power generation fleets. The company’s Constellation
business unit provides energy products and services to
approximately 2 million residential, public sector and business
customers, including more than two-thirds of the Fortune 100.
Follow Exelon on Twitter @Exelon.
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version on businesswire.com: http://www.businesswire.com/news/home/20160810005251/en/
Exelon Investor RelationsDaniel
Eggers312-394-2345daniel.eggers@exeloncorp.comorExelon Corporate
CommunicationsPaul
Adams410-470-4167paul.adams@constellation.com
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