Energy holding company Exelon is powerful in generation, transmission, and distribution of electricity and natural gas. Regulatory rate gains in some markets and favorable weather conditions in others helped boost its revenue 7.3% year on year to almost $36 billion. Exelon’s results were also sparked by favorable regulatory treatment and subsidies—including zero-emissions credit revenue in New York and Illinois, and savings from 2017’s Tax Cuts and Jobs Act that offset lower prices in the generation business. The energy company plans to plow $23 billion into upgrading its utility business infrastructure—an investment that started in 2017 and is planned to run through 2022. The improvements will enable a 7.8% annual rate base growth.
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