Exelon is the country’s largest electric holding company, having closed its contentious $6.8 billion takeover of Pepco Holdings in March after months of haggling with regulators that forced it to sweeten the deal with $430 million in exceptional payments. Exelon, which was born out of a merger in 2000 between Unicom and PECO, operates 23 nuclear reactors across the North-East and Midwest. These represent some 60% of its generating capacity (the rest is either fossil fuel-burning or renewable) and were the main source of its earnings until collapsing oil prices and subsidies for renewables started to undermine wholesale power prices. They’re now looking increasingly challenged: the company is threatening to close efficient nuclear plants in Illinois if local lawmakers don’t vote through a bill that would compensate them for the zero-carbon quality of their energy. The costs for nuclear decommissioning are likely to rise in the medium- to long-term, whatever the fate of the Illinois bill. Against this backdrop, the company is looking to source up to half of its profits from regulated businesses operating grids and serving end consumers (as with the Pepco deal), seeing these as a more stable source of income.
News about Exelon
The White House’s plan to bail out America’s coal country has been shot down.
John Flannery indicated that GE won't build a cloud for every business.
As the industry continues to consolidate
Here's what you need to know to start your day.
Remember Bloom Energy? The 14-year-old Valley startup has been mum for awhile, but has a new deal with a power company. No word on any IPO.