Pepco Holdings, Exelon Report Progress since Joining Six Months Ago
September 19 2016 - 9:00AM
Business Wire
First six months as a combined company has
delivered millions of dollars in benefits to customers, communities
and local economies
Exelon and Pepco Holdings today provided an update on the
progress the companies have made in delivering benefits to
customers, communities and local economies since the completion of
the merger six months ago.
In total, the combined companies are delivering a package of
direct benefits worth more than $440 million across the Pepco
Holdings territories including Atlantic City Electric in New
Jersey, Delmarva Power in Delaware and Maryland, and Pepco in
Maryland and the District of Columbia. The benefits include steps
to make energy more affordable, reliable and sustainable, as well
as investments in local jobs and economies.
“As promised, our customers are benefiting from more affordable,
reliable and sustainable energy since we joined the Exelon family
of companies,” said Dave Velazquez, president and CEO, Pepco
Holdings. “Together with Exelon, we are stronger, more innovative
and better-resourced and we plan to continue that progress for our
customers.”
“Since Exelon and Pepco Holdings became one company, our focus
has been on delivering our customer service, community and economic
commitments,” said Chris Crane, president and CEO, Exelon. “Working
together, we are providing world-class service, reliability,
environmental sustainability and philanthropic support to the
customers and communities we serve.”
Exelon and Pepco Holdings have already delivered millions of
dollars in direct benefits to customers and communities since
becoming one company, including customer bill credits, improved
reliability, charitable giving and an enhanced commitment to clean
energy. Specifically, the companies have:
- Delivered bill credits to residential
customers across all the Pepco Holdings territories, amounting to
more than $153 million.
- Committed $71.4 million in
energy-efficiency program funding.
- Forgiven $2.3 million of
residential customer debt.
- Began to hire more than 340 new
employees and committed $11 million to workforce development
programs.
- Spent more than $91 million with
local, diverse suppliers.
- Provided faster and easier solar
installations, including an improved online application for solar
interconnection.
- Continued charitable giving, donating
more than $2.8 million to local nonprofits.
- Begun sharing best practices and
resources across Exelon’s six utilities to improve reliability,
storm response and customer service.
Over time, additional benefits will include:
- Higher reliability performance, with
fewer and shorter power outages for customers.
- $50 million in total contributions over
10 years to nonprofit organizations that serve local
communities.
- More funding for energy-efficiency and
grid-modernization programs that benefit customers.
- Development of new solar-energy sources
and additional support for renewable energy.
- An ongoing commitment to foster
workforce and supplier diversity.
More information is available at www.PHItomorrow.com.
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 2.5 million residential, public sector and business
customers, including more than two-thirds of the Fortune 100.
Follow Exelon on Twitter @Exelon.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160919005263/en/
ExelonPaul Adams312-394-7417orPepco HoldingsVincent
Morris202-872-2991
Exelon (NYSE:EXC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Exelon (NYSE:EXC)
Historical Stock Chart
From Apr 2023 to Apr 2024