We are committed to our vision to be the best group of electric generation and electric and gas delivery companies in the United States. Exelon is one of the best run and most profitable companies in the industry. We have the best low-cost, low-carbon generation fleet in the country, which we operate with world-class efficiency.
Our vision includes the following energy goals.
1. Capitalize on environmental leadership and clean nuclear energy
Climate change is real. In May 2010 the NAS issued a series of new reports that represents that body’s most comprehensive study of climate change to date. NAS
confirmed that climate change is occurring, is caused largely by human activities, and poses significant risks for – and in some cases is already affecting – a broad range of human and natural systems.
A price on carbon remains essential to ensuring that national efforts to address climate change are undertaken at the lowest possible cost. Without a price on carbon, the United States will overlook many cost-effective solutions while continuing to spend billions on more speculative, less reliable and more expensive ones.
Public concern about climate change is bringing new demand for environmentally friendly products and services to meet future energy needs and Exelon is leading the way. Exelon’s nuclear fleet, diverse renewable energy portfolio—hydroelectric, wind, landfill gas, solar--and responsible fossil generation position us to reliably and cost-competitively compete in the markets where we operate.
- Exelon Generation owns four hydroelectric power plants that provide more than 1,800 MW of clean electricity.
- We invested $62 million to partner with SunPower Corp. to convert an abandoned industrial site on Chicago’s South Side into the nation’s largest urban solar power plant, Exelon City Solar.
- Currently under construction in northern Los Angeles County, Calif., Antelope Valley Solar Ranch One will be one of the largest PV solar projects in the world when completed, adding 230 MW of solar energy to Exelon Generation's portfolio.
- Since acquiring 735 MW of wind energy in 2010, Exelon Generation has added an additional 564 MW of wind energy to its porfolio.
- Exelon Generation worked with PJM Interconnection to permanently retire coal-fired units at Cromby Generating Station and Eddystone Generating Station in 2011 and 2012. A gas/oil-fired unit at Cromby was also reitred in 2011.
- We believe that ultimately additional nuclear power will be necessary to transition to a low-carbon future and that a price on carbon will be needed to realize this outcome.
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2. Run the nuclear fleet at world-class levels
Exelon owns and operates the largest nuclear fleet in the nation. Exelon’s 10 power plants with 17 reactors represent approximately 20% of the U.S. nuclear industry’s power capacity.
- Exelon’s nuclear plants produced 134 million net megawatt-hours of electricity in 2013, the highest annual production ever for the fleet. The 2013 total is enough electricity to power 15 million typical U.S. homes uninterrupted through the year.
- The Exelon fleet in 2013 operated at a 94.1% capacity factor, a measure of reliability. Capacity factor refers to amount of electricity actually produced compared with the theoretical maximum possible.
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3. Enhance the value of our generation
Exelon Generation has one of the nation’s largest portfolios of electricity generation capacity with access to more than 30,000 megawatts of owned and contracted electricity, and a nationwide reach with strong positions in the Midwest, Mid-Atlantic and Texas.
- Exelon’s diverse generating portfolio enables us to be competitive in regional power markets and meet demand during the intermediate seasons and peak periods.
- Constellation is a leading competitive supplier of power, natural gas, renewable energy, and energy management products and services for homes and businesses across the continental United States, including about two-thirds of the companies listed on the Fortune 100 index. Constellation is committed to providing superior value for its customers, investors and the communities it serves.
- Between 2008 and 2012, Exelon added 310 megawatts of nuclear capacity at its existing nuclear plants. Cumulatively, since the program’s inception, Exelon’s nuclear power uprates have accounted for more than 4.3 million megawatt-hours of low-carbon generation, displacing an estimated 3.2 million metric tons of greenhouse gas emissions.
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4. Keep the lights on and the gas flowing
Exelon’s delivery companies, ComEd in northern Illinois, PECO in southeastern Pennsylvania and BGE in central Maryland strive to be the safest and most reliable utilities in the nation. Our utility customers depend on us to keep the lights on and the gas flowing so we work diligently to enhance our infrastructure and work safely every day.
- Since 2003, ComEd has invested approximately $9 billion to expand, upgrade, and maintain the reliability of its transmission and delivery systems.
- New technological applications are an everyday part of our world, and this year PECO will invest about $440 million in continued modernization and growth of its natural gas, electric distribution and transmission systems in Bucks, Chester, Delaware, Montgomery and Philadelphia Counties. Since 2006, the company has invested more than $2.2 billion to keep the lights on and the gas flowing for its customers.
- In 2012, BGE embarked on a three-year project to upgrade electric and gas meters for BGE residential and small commercial customers. This advancement in technology will provide new features that will allow customers to forecast bills and better track and manage their energy use. Smart meter installation will be the first step in BGE’s upgrades to the electric delivery system by implementing communication technology, creating a smart grid.
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