Exelon: the story on HearLore

Strategic Moves And Corporate Spin-Offs

Exelon made several major corporate decisions between 2005 and 2022. On the 31st of July 2005, the Federal Energy Regulatory Commission approved a merger with Public Service Enterprise Group. That agreement lasted only 18 months before both companies terminated it due to pressure from public interest groups like New Jersey Citizen Action. The company acquired Constellation Energy on the 12th of March 2012. This purchase gave Exelon control of more than 34 gigawatts of power generation capacity. Over half of that capacity came from nuclear sources. In April 2014, Exelon announced plans to buy Pepco Holdings for $6.8 billion. Community groups and D.C. Mayor Muriel Bowser opposed the deal. The District of Columbia Public Service Commission initially rejected the merger in August 2015. After appeals and concessions, regulators finally approved the transaction on the 23rd of March 2016. Two years later, on the 2nd of February 2022, Exelon completed the spin-off of its energy generation business as Constellation Energy. Constellation became the largest operator of nuclear power plants in the United States.

Common questions

When was Exelon Corporation formed and which companies merged to create it?

Exelon Corporation was created in October 2000 when PECO Energy Company and Unicom Corporation joined forces. The new entity took its headquarters in Chicago, Illinois, where Unicom had been based since 1907.

What major corporate decisions did Exelon make between 2005 and 2022 regarding mergers and spin-offs?

Exelon acquired Constellation Energy on the 12th of March 2012 and later completed a spin-off of its energy generation business as Constellation Energy on the 2nd of February 2022. The company also attempted to merge with Public Service Enterprise Group on the 31st of July 2005 but terminated that agreement after 18 months due to public pressure.

Where are the nuclear generating stations operated by Exelon located and what environmental violations occurred there?

The Braidwood Nuclear Generating Station sits 60 miles southwest of Chicago while the Peach Bottom Nuclear Generating Station is located in Delta, Pennsylvania. Officials disclosed water contamination from tritium spills at Braidwood in 2006 and issued a $65,000 fine for security lapses at Peach Bottom following a 2009 incident.

How much money did Exelon spend on lobbying efforts during 2022 and how were political contributions distributed?

In 2022 alone, Exelon spent $2,878,000 on lobbying efforts and contributed $323,500 to federal candidates between 2021 and 2022. That total included $202,500 directed toward Democratic candidates and $121,000 for Republican candidates through its PAC named EXELONPAC.

What financial metrics defined Exelon's performance from 2005 to 2017 regarding revenue and customer base size?

Revenue grew from $15,357 million in 2005 to $33,531 million by 2017 while total assets expanded to reach $116,700 million in 2017. The company serves approximately 10 million customers across six regulated utilities making it the largest regulated electric utility in the United States.

Exelon.

Strategic Moves And Corporate Spin-Offs

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