Sign In

Home

A DIVERSE PORTFOLIO WITH CLEAN ENERGY AT THE CENTER

​Exelon Generation is America’s leading provider of zero-carbon nuclear energy. We generate power that’s reliable, every minute of the day. Exelon has a balanced (and growing) portfolio of natural gas, hydro, wind and solar. Customers count on us daily for reliable, efficient, often innovative energy production.

Exelon has one of the nation’s largest, cleanest, lowest-cost power generation fleets. Learn more about our energy footprint here.

 

 

Exelon Reports Second Quarter 2018 ResultsExelon Reports Second Quarter 2018 Results<div> <strong>​Earnings Release Highlights</strong></div><div> <br> </div><div><ul><li>GAAP Net Income of $0.56 per share and Adjusted (non-GAAP) Operating Earnings of $0.71 per share for the second quarter of 2018<br></li><li>Reaffirming full year 2018 Adjusted Operating Earnings guidance of $2.90 to $3.20 per share<br></li><li>Strong utility operations with every utility achieving top decile CAIDI performance<br></li><li>Legislation passed in Pennsylvania and Delaware will support investment in the Utility of the Future<br></li><li>Customer savings from the Tax Cuts & Jobs Act (TCJA) are now projected to exceed $675 million annually across Exelon's electric and gas distribution and transmission customers<br></li><li>New Jersey zero emissions certificate (ZEC) legislation signed by Gov. Phil Murphy on May 23, 2018<br></li></ul></div><div> <br> </div><div> <strong>CHICAGO </strong>— Exelon Corporation (NYSE: EXC) today reported its financial results for the second quarter of 2018.</div><div> <br> </div><div>“Exelon’s utility and power businesses performed well operationally and financially in the second quarter. Our strategy to accelerate investment in advanced technology and infrastructure to improve customer service gained momentum as lawmakers in Pennsylvania and Delaware passed legislation that will support our initiatives to create the utility of the future,” said Christopher M. Crane, Exelon’s President and CEO. “In May, New Jersey Gov. Phil Murphy signed legislation creating a zero emissions certificate program that will preserve the state’s emissions-free nuclear power plants and the economic and environmental benefits they provide. Our commitment to the communities we serve remains a core value, with our employees setting a new company record by volunteering more than 18,000 hours in 104 cities across the U.S. as part of National Volunteer Month.”</div><div> <br> </div><div>“Exelon again delivered solid financial results with non-GAAP operating earnings of $0.71 per share, which is above our guidance range of $0.55-$0.65 per share,” said Joseph Nigro, Exelon’s Senior Executive Vice President and CFO. “As we look ahead to the rest of the year, we are on solid footing and will continue to focus on delivering strong operational and financial results for our stakeholders.  Exelon remains on track to meet our full-year guidance of $2.90-$3.20 per share and expects to earn $0.80-$0.90 per share in the third quarter.” </div><div> <br> </div><h3>Second Quarter 2018</h3><div> <br> </div><div>Exelon's GAAP Net Income for the second quarter of 2018 increased to $0.56 per share from $0.10 per share in the second quarter of 2017; Adjusted (non-GAAP) Operating Earnings increased to $0.71 per share in the second quarter of 2018 from $0.56 per share in the second quarter of 2017. For the reconciliations of GAAP Net Income to Adjusted (non-GAAP) Operating Earnings, refer to the tables beginning on page 7.</div><div> <br> </div><div>Adjusted (non-GAAP) Operating Earnings in the second quarter of 2018 primarily reflect higher electric distribution earnings at ComEd, regulatory rate increases at PHI, decreased nuclear outage days, increased capacity prices, the favorable impacts of the Illinois Zero Emission Standard (ZES), realized gains on nuclear decommissioning trust fund investments and tax savings related to the TCJA at Generation, partially offset by lower realized energy prices at Generation.</div><div> <br> </div><div><h3>Operating Company Results<sup>1</sup></h3><div> <br> </div><div> <strong>ComEd</strong></div><div> <br> </div><div>ComEd's second quarter of 2018 GAAP Net Income increased to $164 million from $118 million in the second quarter of 2017. ComEd’s Adjusted (non-GAAP) Operating Earnings increased to $164 million for the second quarter of 2018 from $141 million in the second quarter of 2017, primarily reflecting higher electric distribution earnings. Due to revenue decoupling, ComEd's distribution earnings are not affected by actual weather or customer usage patterns.</div><div> <br> </div><div> <strong>PECO</strong></div><div> <br> </div><div>PECO’s second quarter of 2018 GAAP Net Income increased to $96 million from $88 million in the second quarter of 2017. PECO’s Adjusted (non-GAAP) Operating Earnings for the second quarter of 2018 increased to $97 million from $89 million in the second quarter of 2017, primarily due to favorable weather conditions and volumes.</div><div> <br> </div><div>Heating degree days were up 46.5 percent relative to the same period in 2017 and were 9.3 percent above normal. Total retail electric deliveries were up 1.4 percent compared with the second quarter of 2017. Natural gas deliveries (including both retail and transportation segments) in the second quarter of 2018 were up 15.7 percent compared with the same period in 2017.</div><div> <br> </div><div> <strong>BGE</strong></div><div> <br> </div><div>BGE’s second quarter of 2018 GAAP Net Income increased to $51 million from $45 million in the second quarter of 2017. BGE’s Adjusted (non-GAAP) Operating Earnings for the second quarter of 2018 increased to $52 million from $46 million in the second quarter of 2017, primarily reflecting transmission rate increases. Due to revenue decoupling, BGE's distribution earnings are not affected by actual weather or customer usage patterns.</div><div> <br> </div> <sub>1 Exelon’s five business units include ComEd, which consists of electricity transmission and distribution operations in northern Illinois; PECO, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in southeastern Pennsylvania; BGE, which consists of electricity transmission and distribution operations and retail natural gas distribution operations in central Maryland; PHI, which consists of electricity transmission and distribution operations in the District of Columbia and portions of Maryland, Delaware, and New Jersey and retail natural gas distribution operations in northern Delaware; and Generation, which consists of owned and contracted electric generating facilities and wholesale and retail customer supply of electric and natural gas products and services, including renewable energy products and risk management services. </sub><br></div><div> <sub> <br></sub></div><div> <br> </div><div><div> <strong>PHI</strong></div><div> <br> </div><div>PHI’s second quarter of 2018 GAAP Net Income increased to $84 million from $66 million in the second quarter of 2017. PHI’s Adjusted (non-GAAP) Operating Earnings for the second quarter of 2018 increased to $86 million from $63 million in the second quarter of 2017, primarily reflecting regulatory rate increases. Due to revenue decoupling, PHI's distribution earnings related to Pepco and DPL Maryland are not affected by actual weather or customer usage patterns.</div><div> <br> </div><div> <strong>Generation</strong></div><div> <br> </div><div>Generation's second quarter of 2018 GAAP Net Income increased to $178 million from a Net loss of $235 million in the second quarter of 2017. Generation’s Adjusted (non-GAAP) Operating Earnings for the second quarter of 2018 increased to $331 million from $217 million in the second quarter of 2017, primarily reflecting decreased nuclear outage days, increased capacity prices, the favorable impacts of the Illinois ZES, realized gains on nuclear decommissioning trust fund investments and tax savings related to the TCJA, partially offset by lower realized energy prices.</div><div> <br> </div><div>The proportion of expected generation hedged as of June 30, 2018, was 97 percent to 100 percent for 2018, 71 percent to 74 percent for 2019 and 41 percent to 44 percent for 2020.</div><div> <br> </div><div><h3>Second Quarter and Recent Highlights</h3><div> <br> </div><div><ul><li>Tax Cuts and Jobs Act Tax Savings: The Utility Registrants have made filings with their respective regulators to begin passing back to customers the ongoing annual tax savings resulting from the TCJA. In total, the Utility Registrants project total annual savings of over $675 million across their electric and gas distribution customers and electric transmission customers. There were the following developments related to these filings in the second quarter of 2018:<br><br></li><ul><li dir="ltr" style="text-align:left;">Pursuant to a Pennsylvania Public Utility Commission (PAPUC) order issued on May 17, 2018, to all Pennsylvania utilities without an existing base rate case, PECO began passing back annual tax savings of $4 million to its natural gas distribution customers through a negative surcharge mechanism beginning July 1, 2018.<br><br></li><li>On May 31, 2018, Pepco received an order from the Maryland Public Service Commission (MDPSC) approving a settlement agreement for its 2018 electric distribution rate case, which included the annual ongoing TCJA tax savings and provides a one-time bill credit to customers of approximately $10 million representing the TCJA tax savings from January 1, 2018, through the effective date of June 1, 2018.<br><br></li><li>On June 27, 2018, DPL entered into a settlement agreement with parties in Delaware for its pending electric distribution rate case, which includes the annual ongoing TCJA tax savings and provides a one-time bill credit to customers of approximately $3 million representing the TCJA tax savings from February 1, 2018, through March 17, 2018, when full interim rates were put into effect.<br><br></li><li>ComEd’s, PECO’s, BGE’s, Pepco’s, DPL’s and ACE’s electric transmission formula rate updates effective June 1, 2018, reflect the annual benefit of lower income tax rates from TCJA of $69 million, $20 million, $18 million, $13 million, $12 million and $11 million, respectively.</li></ul></ul></div><div><ul><li> <strong>New Jersey Clean Energy Legislation</strong>: On May 23, 2018, Governor Murphy of New Jersey signed new legislation, which became effective immediately, that will establish a ZEC program providing compensation for nuclear plants that demonstrate to the NJBPU that they meet certain requirements, including that they make a significant contribution to air quality in the state and that their revenues are insufficient to cover their costs and risks. Under the new legislation, the NJBPU will issue ZECs to qualifying nuclear power plants, and the electric distribution utilities in New Jersey, including ACE, will be required to purchase those ZECs and will be allowed to recover the associated costs from their retail distribution customers. The NJBPU has 180 days from the effective date to establish procedures for implementation of the ZEC program and 330 days from the effective date to determine which nuclear power plants are selected to receive ZECs under the program. The quantity of ZECs issued will be determined based on the greater of 40 percent of the total number of MWh of electricity distributed by the public electric distribution utilities in New Jersey in the prior year, or the total number of MWh of electricity generated in the prior year by the selected nuclear power plants. The ZEC price is approximately $10 per MWh during the first 3-year eligibility period. For eligibility periods following the first 3-year eligibility period, the NJBPU has discretion to reduce the ZEC price. Assuming the successful implementation of the New Jersey ZEC program and the selection of Salem as one of the qualifying facilities, the New Jersey ZEC program has the potential to mitigate the heightened risk of earlier retirement for Salem. On the same day, the Governor of New Jersey signed new legislation, which also became effective immediately, that establishes and modifies New Jersey’s clean energy and energy efficiency programs and solar and renewable energy portfolio standards.</li></ul></div><div><ul><li> <strong>DPL Delaware Electric Distribution Base Rates:</strong> On June 27, 2018, DPL entered into a non- unanimous settlement agreement with the majority of the parties in the proceeding related to its pending electric distribution base rate case. The settlement agreement provides for a net decrease to annual electric distribution base rates of $7 million, which includes annual ongoing TCJA tax savings, and reflects a ROE of 9.7 percent. A decision is expected on the matter in the third quarter of 2018, with a rate refund expected to be issued in the fourth quarter of 2018 if the Delaware Public Service Commission (DPSC) approves the settlement agreement as filed.<br></li></ul></div><div><ul><li> <strong>BGE Maryland Natural Gas Distribution Base Rates:</strong> On June 8, 2018, BGE filed an application with the MDPSC to increase its annual natural gas distribution base rates by $63 million, reflecting a requested ROE of 10.5 percent. BGE expects a decision in the first quarter of  2019 but cannot predict what increase the MDPSC will approve.<br><br></li><li> <strong>Delaware Distribution System Investment Charge Legislation:</strong> On June 14, 2018, Governor Carney of Delaware signed new Distribution System Investment Charge (DSIC) legislation, which establishes a system improvement charge that provides a mechanism to recover infrastructure investments, allowing for gradual rate increases and limiting frequency of distribution base rate cases. DPL expects to make its first filing in Delaware in the fourth quarter of 2018, with the new charge effective in the first quarter of 2019. While this legislation is expected to support needed infrastructure investment and allow for more timely recovery of those investments, Exelon, PHI and DPL cannot predict the potential financial impact on Exelon, PHI or DPL.<br><br></li><li> <strong>Pennsylvania  Alternative  Ratemaking  Legislation:</strong> On  June  28,  2018,  Governor  Wolf  of Pennsylvania signed new legislation, which authorized the PAPUC to review and approve utility- proposed alternative rate designs, including options such as decoupling mechanisms, formula rates, multi-year rate plans, and performance based rates. Exelon and PECO cannot predict the outcome or the potential financial impact, if any, on Exelon or PECO.<br></li></ul></div><div><ul><li> <strong>PJM Transmission Order:</strong> On June 15, 2016, a number of parties, including the Utility Registrants, filed a proposed settlement with FERC to resolve outstanding issues related to cost responsibility for charges to transmission customers for certain transmission facilities that operate at or above 500 kV. The settlement included provisions for monthly credits or charges related to the periods prior to January 1, 2016, that are expected to be refunded or recovered through PJM wholesale transmission rates through June 2025. On May 31, 2018, FERC issued an order approving the settlement. Pursuant to the order, similar charges for the period January 1, 2016, through June 30, 2018, will also be refunded or recovered through PJM wholesale transmission rates over the subsequent 12-month period. PJM will commence billing the refunds and charges associated with this settlement in August 2018.<br><br>Pursuant to the FERC approval of the settlement in the second quarter of 2018, the Utility Registrants recorded gross payables to and receivables from PJM of $135 million and $197 million, respectively, which were offset by regulatory assets and liabilities, resulting in no earnings impact. In addition, Generation recorded a pre-tax charge and payable to PJM of $23 million in the second quarter of 2018.</li></ul></div><div><ul><li> <strong>FirstEnergy  Solutions:</strong>  On  July 9,  2018,  Generation  entered  into  an  agreement  to  purchase FirstEnergy Solutions Corporation's retail electricity and wholesale load serving contracts and certain other related commodity contracts for an all cash purchase price of $140 million. The transaction is expected to close in the fourth quarter of 2018. The closing of the transaction is subject to certain conditions, including Generation being the winning bidder after a court-supervised Section 363 bankruptcy auction, the approval of the Purchase Agreement by the United States Bankruptcy Court for the Northern District of Ohio following the auction, and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Either party may terminate the Purchase Agreement if the transaction has not been consummated by December 31, 2018.<br></li></ul></div><div><ul><li> <strong>Agreement for Sale and Decommissioning of Oyster Creek:</strong> On July 31, 2018, Generation entered into an agreement with Holtec International (Holtec) and its indirect wholly owned subsidiary, Oyster Creek Environmental Protection, LLC (OCEP), for the sale and decommissioning of Oyster Creek. Generation will transfer to OCEP substantially all the assets associated with Oyster Creek, including assets held in nuclear decommissioning trust (NDT) funds valued at approximately $980 million as of June 30, 2018, along with the assumption of liability for all responsibility for the site, including full decommissioning and ongoing management of spent fuel until the spent fuel is moved offsite. In addition to the assumption of liability for the full decommissioning and ongoing management of spent fuel, other consideration to be received in the transaction is contingent on several factors, including a requirement that Generation deliver a minimum NDT fund balance at closing, subject to adjustment for specific terms that include income taxes that would be imposed on any net unrealized built-in gains and certain decommissioning activities to be performed during the pre-close period after the unit shuts down in the fall of 2018 and prior to the anticipated close of the transaction. Completion of the transaction contemplated by the sale agreement is subject to the satisfaction of several closing conditions, including approval of the license transfer from the NRC and other regulatory approvals, and the receipt of a private letter ruling from the IRS. Generation currently anticipates satisfaction of the closing conditions to occur in the second half of 2019.<br></li></ul></div><div><ul><li> <strong>Mystic Generating Station Early Retirement:</strong> On March 29, 2018, Generation announced it had formally notified grid operator ISO-NE of its plans to early retire its Mystic Generating Station assets on June 1, 2022, absent any interim and long-term solutions for reliability and regional fuel security. On May 1, 2018, ISO-NE made a filing with FERC requesting waiver of certain tariff provisions to allow it to retain Mystic units 8 and 9 for fuel security for the 2022 - 2024 planning years. On May 16, 2018, Generation made a filing with FERC to establish cost-of-service compensation and terms and conditions of service for Mystic units 8 and 9 for the period between June 1, 2022 - May 31, 2024. On July 2, 2018, FERC issued an order denying ISO-NE's May 1, 2018, waiver request on procedural grounds but accepting ISO-NE's conclusions that retirement of Mystic units 8 and 9 could cause a violation of mandatory reliability standards as soon as 2022. Accordingly, FERC ordered ISO-NE to (i) make a filing within 60 days providing for the filing of a short-term cost-of-service agreement to address demonstrated fuel security concerns and (ii) make a filing by July 1, 2019, proposing permanent tariff revisions that would improve its market design to better address regional fuel security concerns. FERC also extended the deadline by which Generation must make a retirement decision for Mystic units 8 and 9 to January 4, 2019. On July 13, 2018, FERC issued an order accepting the cost-of-service agreement for filing, making findings on certain issues and establishing hearing procedures on an expedited schedule. Exelon and Generation cannot predict the final outcome of these proceedings or the potential financial impact, if any, on Exelon or Generation.</li></ul></div><div><ul><li> <strong>Nuclear Operations: </strong> Generation’s  nuclear  fleet,  including  its  owned  output  from  the  Salem Generating Station and 100 percent of the CENG units, produced 45,723 gigawatt-hours (GWhs) in the second quarter of 2018, compared with 44,065 GWhs in the second quarter of 2017. Excluding Salem, the Exelon-operated nuclear plants at ownership achieved a 93.2 percent capacity factor for the second quarter of 2018, compared with 90.9 percent for the second quarter of 2017. The number of planned refueling outage days in the second quarter of 2018 totaled 94, compared with 125 in the second quarter of 2017. There were 2 non-refueling outage days in the second quarter of 2018, compared with 12 in the second quarter of 2017.<br></li></ul></div><div><ul><li> <strong>Fossil and Renewables Operations: </strong>The Dispatch Match rate for Generation’s gas and hydro fleet was 97.8 percent in the second quarter of 2018, compared with 99.0 percent in the second quarter of 2017. The lower performance in the quarter was primarily due to outages at gas cycle units in Massachusetts and Texas.<br><br>Energy Capture for the wind and solar fleet was 95.1 percent in the second quarter of 2018, compared with 95.5 percent in the second quarter of 2017. The lower performance in the quarter was driven by equipment issues at wind farms in Texas.<br><br></li><li> <strong>Financing Activities:<br><br></strong></li><ul><li>On May 23, 2018, ACE entered into two term loan agreements in the aggregate amount of $125 million, which expire on May 22, 2019. Pursuant to the term loan agreements, loans made thereunder bear interest at a variable rate equal to LIBOR plus 0.55 percent and all indebtedness thereunder is unsecured.<br><br></li><li>On June 21, 2018, Pepco issued $100 million aggregate principal amount of its First Mortgage Bonds, 4.27 percent due June 15, 2048. Pepco used the proceeds to repay existing indebtedness and for general corporate purposes.<br><br></li><li>On June 21, 2018, DPL issued $200 million in aggregate principal amount of its First Mortgage Bonds, 4.27 percent due June 15, 2048. DPL used the proceeds to repay indebtedness and for general corporate purposes. </li></ul></ul></div><div><div> <br> </div><h3>GAAP/Adjusted (non-GAAP) Operating Earnings Reconciliation</h3><div> <br> </div><div>Adjusted (non-GAAP) Operating Earnings for the second quarter of 2018 do not include the following items (after tax) that were included in reported GAAP Net Income:</div><div> <br> </div><table cellspacing="0" width="100%" class="ms-rteTable-3"><tbody><tr class="ms-rteTableHeaderRow-3"><th class="ms-rteTableHeaderEvenCol-3" rowspan="1" colspan="1" style="width:12.5%;"> <strong>(in millions)</strong></th><th class="ms-rteTableHeaderOddCol-3" rowspan="1" colspan="1" style="width:12.5%;"> <strong>Exelon </strong> <strong>Earnings per Diluted Share</strong> <div> <br> </div></th><th class="ms-rteTableHeaderEvenCol-3" rowspan="1" colspan="1" style="width:12.5%;"> <strong>Exelon</strong></th><th class="ms-rteTableHeaderOddCol-3" rowspan="1" colspan="1" style="width:12.5%;"> <strong>ComEd</strong></th><th class="ms-rteTableHeaderEvenCol-3" rowspan="1" colspan="1" style="width:12.5%;"> <strong>PECO</strong></th><th class="ms-rteTableHeaderOddCol-3" rowspan="1" colspan="1" style="width:12.5%;"> <strong>BGE</strong></th><th class="ms-rteTableHeaderEvenCol-3" rowspan="1" colspan="1" style="width:12.5%;"> <strong>PHI</strong></th><th class="ms-rteTableHeaderOddCol-3" rowspan="1" colspan="1" style="width:12.5%;"> <strong>Generation</strong></th></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3"> <strong>2018 GAAP Net Income</strong></td><td class="ms-rteTableOddCol-3" style="text-align:center;"> <strong>$0.56  </strong></td><td class="ms-rteTableEvenCol-3" style="text-align:center;"> <strong>$539 </strong></td><td class="ms-rteTableOddCol-3" style="text-align:center;"> <strong>$164</strong></td><td class="ms-rteTableEvenCol-3" style="text-align:center;"> <strong>$96</strong></td><td class="ms-rteTableOddCol-3" style="text-align:center;"> <strong>$51</strong></td><td class="ms-rteTableEvenCol-3" style="text-align:center;"> <strong>$84</strong></td><td class="ms-rteTableOddCol-3" style="text-align:center;"> <strong>$</strong><strong>178</strong></td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3">Mark-to-Market Impact of Economic <div>Hedging Activities (net of taxes of $23)</div></td><td class="ms-rteTableOddCol-3" style="text-align:center;">(0.07)</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">(67)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">(67)</td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3">Unrealized Losses Related to Nuclear Decommissioning Trust (NDT) Fund Investments (net of taxes of $77)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.08</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">81</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">81</td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3">Merger and Integration Costs (net of taxes of $0)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">1</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">1</td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3">Long-Lived Asset Impairments (net of taxes of $11)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.03</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">30</td><td class="ms-rteTableOddCol-3" style="text-align:center;"><div>—<br></div></td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">30</td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3">Plant Retirements and Divestitures (net of taxes of $47)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.14</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">127</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">127</td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3"><div>Cost Management Program (net of taxes of $4, $0, $0, $0 and $4, respectively)</div></td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.01</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">12</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">1</td><td class="ms-rteTableOddCol-3" style="text-align:center;">1</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">1</td><td class="ms-rteTableOddCol-3" style="text-align:center;">9</td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3">Change in Environmental Liabilities (net of taxes of $2)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.01</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">5</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">5</td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3">Reassessment of Deferred Income Taxes (entire amount represents tax expense)<br></td><td class="ms-rteTableOddCol-3" style="text-align:center;">(0.01)</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">(8)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">1</td><td class="ms-rteTableOddCol-3" style="text-align:center;">1</td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3" rowspan="1">Noncontrolling Interests (net of taxes of $7)</td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;">(0.04)</td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;">(34)</td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" rowspan="1"><div style="text-align:center;">(34)</div><div> <br> </div></td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3" rowspan="1"><strong>2018 Adjusted (non-GAAP) Operating Earnings                                                    </strong></td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;"> <strong>$0.71</strong></td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;"> <strong>$686</strong></td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;"> <strong>$164</strong></td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;"> <strong>$97</strong></td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;"> <strong>$52</strong></td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;"> <strong>$86</strong></td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;"><strong>$331</strong></td></tr></tbody></table> <br> </div>Adjusted (non-GAAP) Operating Earnings for the second quarter of 2017 do not include the following items (after tax) that were included in reported GAAP Net Income:<br></div><div> <br> </div><div><table cellspacing="0" width="100%" class="ms-rteTable-3"><tbody><tr class="ms-rteTableHeaderRow-3"><th class="ms-rteTableHeaderEvenCol-3" rowspan="1" colspan="1" style="width:177px;"> <span style="font-family:benton-sans-medium;">(in millions)</span></th><th class="ms-rteTableHeaderOddCol-3" rowspan="1" colspan="1" style="width:87px;"> <span style="font-family:benton-sans-medium;">Exelon </span><span style="font-family:benton-sans-medium;">Earnings per Diluted Share</span> <div> <br> </div></th><th class="ms-rteTableHeaderEvenCol-3" rowspan="1" colspan="1" style="width:69px;"> <span style="font-family:benton-sans-medium;">Exelon</span></th><th class="ms-rteTableHeaderOddCol-3" rowspan="1" colspan="1" style="width:74px;"> <span style="font-family:benton-sans-medium;">ComEd</span></th><th class="ms-rteTableHeaderEvenCol-3" rowspan="1" colspan="1" style="width:61px;"> <span style="font-family:benton-sans-medium;">PECO</span></th><th class="ms-rteTableHeaderOddCol-3" rowspan="1" colspan="1" style="width:49px;"> <span style="font-family:benton-sans-medium;">BGE</span></th><th class="ms-rteTableHeaderEvenCol-3" rowspan="1" colspan="1" style="width:46px;"> <span style="font-family:benton-sans-medium;">PHI</span></th><th class="ms-rteTableHeaderOddCol-3" rowspan="1" colspan="1" style="width:107px;"> <span style="font-family:benton-sans-medium;">Generation</span></th></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3"> <span style="font-family:benton-sans-medium;">2017 GAAP Net Income<sup>1</sup></span></td><td class="ms-rteTableOddCol-3" style="text-align:center;"> <span style="font-family:benton-sans-medium;">$0.10  </span></td><td class="ms-rteTableEvenCol-3" style="text-align:center;"> <span style="font-family:benton-sans-medium;">$95 </span></td><td class="ms-rteTableOddCol-3" style="text-align:center;"> <span style="font-family:benton-sans-medium;">$118</span></td><td class="ms-rteTableEvenCol-3" style="text-align:center;"> <span style="font-family:benton-sans-medium;">$88</span></td><td class="ms-rteTableOddCol-3" style="text-align:center;"> <span style="font-family:benton-sans-medium;">$45</span></td><td class="ms-rteTableEvenCol-3" style="text-align:center;"> <span style="font-family:benton-sans-medium;">$66</span></td><td class="ms-rteTableOddCol-3" style="text-align:center;"> <span style="font-family:benton-sans-medium;">$</span><span style="font-family:benton-sans-medium;">(235)</span></td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3"><div>Mark-to-Market Impact of Economic Hedging Activities (net of taxes of $72 and $71, respectively)</div></td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.12<br></td><td class="ms-rteTableEvenCol-3" style="text-align:center;"><div>113<br></div></td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">114</td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3"><div>Unrealized Gains Related to NDT Fund Investments (net of taxes of $20)</div></td><td class="ms-rteTableOddCol-3" style="text-align:center;">(0.05)</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">(45)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">(45)</td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3"><div>Amortization of Commodity Contract Intangibles (net of taxes of $8)</div></td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.01</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">12</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">12</td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3">Merger and Integrations Costs (net of taxes of $9, $1 and $7, respectively)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.02</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">15</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—<br></td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">1</td><td class="ms-rteTableOddCol-3" style="text-align:center;">12</td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3"><div>Merger Commitments (net of taxes of $3)</div></td><td class="ms-rteTableOddCol-3" style="text-align:center;"><div>—<br></div></td><td class="ms-rteTableEvenCol-3" style="text-align:center;"><div>—<br></div> <br> </td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">(4)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3">Long-Lived Asset Impairments (net of taxes of $172 and $171, respectively)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.29</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">268</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">269</td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3">Plant Retirements and Divestitures (net of taxes of $42)</td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.07</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">66</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">66</td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3">Cost Management Program (net of taxes of $4, $1, $1 and $3, respectively)<br></td><td class="ms-rteTableOddCol-3" style="text-align:center;">0.01<br></td><td class="ms-rteTableEvenCol-3" style="text-align:center;">6</td><td class="ms-rteTableOddCol-3" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">1</td><td class="ms-rteTableOddCol-3" style="text-align:center;">1</td><td class="ms-rteTableEvenCol-3" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" style="text-align:center;">4</td></tr><tr class="ms-rteTableEvenRow-3"><td class="ms-rteTableEvenCol-3" rowspan="1">Like-Kind Exchange Tax Position (net of taxes of $66 and $9, respectively)</td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;">(0.03)<br></td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;">(26)</td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;">23</td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" rowspan="1"><div style="text-align:center;">—</div><div> <br> </div></td></tr><tr class="ms-rteTableOddRow-3"><td class="ms-rteTableEvenCol-3" rowspan="1"> <strong></strong>Noncontrolling Interests (net of taxes of $5)<strong>            </strong></td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;">0.02</td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;"> 20</td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;"><div>—<br></div></td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;"><div>—<br></div></td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableEvenCol-3" rowspan="1" style="text-align:center;">—</td><td class="ms-rteTableOddCol-3" rowspan="1" style="text-align:center;"> 20</td></tr><tr class="ms-rteTableFooterRow-3"><td class="ms-rteTableFooterEvenCol-3" rowspan="1"><strong>2017 Adjusted (non-GAAP) Operating Earnings</strong></td><td class="ms-rteTableFooterOddCol-3" rowspan="1" style="text-align:center;"><strong>$0.56</strong></td><td class="ms-rteTableFooterEvenCol-3" rowspan="1" style="text-align:center;"><strong>$524</strong></td><td class="ms-rteTableFooterOddCol-3" rowspan="1" style="text-align:center;"><strong>$141</strong></td><td class="ms-rteTableFooterEvenCol-3" rowspan="1" style="text-align:center;"><strong>$89</strong></td><td class="ms-rteTableFooterOddCol-3" rowspan="1" style="text-align:center;"><strong>$46</strong></td><td class="ms-rteTableFooterEvenCol-3" rowspan="1" style="text-align:center;"><div><strong>$63</strong><br></div></td><td class="ms-rteTableFooterOddCol-3" rowspan="1" style="text-align:center;"><strong>$</strong><strong>217</strong></td></tr></tbody></table> <sub>(1) Certain immaterial prior year amounts in the Registrants' Consolidated Statements of Operations and Comprehensive  Income have been recasted to reflect new accounting standards issued by the FASB and adopted as of January 1, 2018.</sub><br> </div><div><sub><br></sub></div><div><div><strong>Note:</strong></div><div><br></div><div>Unless otherwise noted, the income tax impact of each reconciling item between GAAP Net Income and Adjusted (non-GAAP) Operating Earnings is based on the marginal statutory federal and state income tax rates for each Registrant, taking into account whether the income or expense item is taxable or deductible, respectively, in whole or in part. For all items except the unrealized gains and losses related to NDT fund investments, the marginal statutory income tax rates for 2018 and 2017 ranged from 26.0 percent to 29.0 percent and 39.0 percent to 41.0 percent, respectively. Under IRS regulations, NDT fund investment returns are taxed at different rates for investments if they are in qualified or non-qualified funds. The effective tax rates for the unrealized gains and losses related to NDT fund investments were 48.9 percent and 31.4 percent for the three months ended June 30, 2018 and 2017, respectively. </div><div><br></div><div><strong>Webcast Information<br><br></strong></div><div>Exelon will discuss second quarter 2018 earnings in a one-hour conference call scheduled for today at 9 a.m. Central Time (10 a.m. Eastern Time). The webcast and associated materials can be accessed at <a href="/_layouts/15/FIXUPREDIRECT.ASPX?WebId=e1dbc700-c490-4aa9-8536-68e764373f3e&TermSetId=4127a9d8-83b4-4034-bcf3-c5e379afb3ec&TermId=e99fdb3f-b84c-49a9-ac8a-ad701497ef8e" target="_blank">www.exeloncorp.com/investor-relations</a>.<br></div><div><br></div><div><div><strong>Non-GAAP Financial Measures</strong></div><div><br></div><div>In addition to net income as determined under generally accepted accounting principles in the United States (GAAP), Exelon evaluates its operating performance using the measure of Adjusted (non-GAAP) Operating Earnings because management believes it represents earnings directly related to the ongoing operations of the business. Adjusted (non-GAAP) Operating Earnings exclude certain costs, expenses, gains and losses and other specified items. This measure is intended to enhance an investor’s overall understanding of period over period operating results and provide an indication of Exelon’s baseline operating performance excluding items that are considered by management to be not directly related to the ongoing operations of the business. In addition, this measure is among the primary indicators management uses as a basis for evaluating performance, allocating  resources, setting incentive compensation targets and planning and  forecasting of future periods. Adjusted (non-GAAP) Operating Earnings is not a presentation defined under GAAP and may not be comparable to other companies’ presentation. The Company has provided the non-GAAP financial measure as supplemental information and in addition to the financial measures that are calculated and presented in accordance with GAAP. Adjusted (non-GAAP) Operating Earnings should not be deemed more useful than, a substitute for, or an alternative to the most comparable GAAP Net Income measures provided in this earnings<a href="/company/Documents/Press%20Release-Earnings%20Tables/Q2%202018%20Press%20Release%20and%20Earnings%20Attachments%20-%20FINAL.pdf" target="_blank"> release and attachments</a>. This press release and earnings release attachments provide reconciliations of adjusted (non-GAAP) Operating Earnings to the most directly comparable financial measures calculated and presented in accordance with GAAP, are posted on Exelon’s website: <a href="/" target="_blank">www.exeloncorp.com</a>, and have been furnished to the Securities and Exchange Commission on Form 8-K on August 2, 2018.<br></div><div><br></div><div><div><strong>Cautionary Statements Regarding Forward-Looking Information</strong></div><div><br></div><div>This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. The factors that could cause actual results to differ materially from the forward-looking statements made by the Registrants include those factors discussed herein, as well as the items discussed in (1) the Registrants' 2017 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 23, Commitments and Contingencies; (2) the Registrants' Second Quarter 2018 Quarterly Report on Form 10-Q (to be filed on August 2, 2018) in (a) Part II, Other Information, ITEM 1A. Risk Factors; (b) Part 1, Financial Information, ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 17, Commitments and Contingencies; and (3) other factors discussed in filings with the SEC by the Registrants. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this press release. None of the Registrants undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this press release.</div></div></div><sub><br></sub></div><div> <br> </div> <br> </div>http://www.exeloncorp.com/newsroom/exelon-reports-second-quarter-2018-results8/2/2018 9:00:00 AM
Holtec International to Purchase Oyster Creek Generating Station, Decommission Nuclear Plant within Eight YearsHoltec International to Purchase Oyster Creek Generating Station, Decommission Nuclear Plant within Eight Years<p><strong>Forked River, N.J.</strong> — Exelon Generation, the owner of the nation’s largest fleet of nuclear energy facilities, and Holtec International, a global leader in used nuclear fuel management technologies, today announced an agreement for Holtec to purchase Oyster Creek Generating Station. </p><p>Under the terms of the agreement, which is subject to regulatory approvals, Holtec will assume ownership of the site, real property and used nuclear fuel. As the site’s owner, Holtec will manage all site decommissioning and restoration activities. </p><p>The transaction is expected to close in the third quarter of 2019, pending the Nuclear Regulatory Commission’s and other regulatory approval, and will not impact the scheduled shutdown of Oyster Creek, as previously announced. Holtec will be accelerating Oyster Creek’s decommissioning timeline with the highest standard of safety, quality and environmental stewardship. </p><p>“This landmark agreement is good news for Oyster Creek employees, the Lacey community and the state of New Jersey,” said Bryan Hanson, Exelon Generation’s chief nuclear officer. “Holtec’s commitment to the nuclear industry and its presence in New Jersey will allow many of our employees previously facing relocation to continue living and working in the Garden State. Further, with three decades of experience in nuclear fuel technologies and a partnership with global decommissioning leader SNC-Lavalin, Holtec is ideally positioned to complete the decommissioning of Oyster Creek safely and swiftly.”</p><p>“It is with wistful pride that we, a New Jersey-born company which has spread around the globe, will take over the State’s oldest nuclear plant and decommission it with the latest technologies that will preserve the pristine New Jersey shore and accrete minimal dose to the workers. We hope to offer job opportunities to the many Oyster Creek-based Exelon employees who may wish to pursue exciting career opportunities with our company,” said Holtec’s President & CEO, Dr. Kris Singh.</p><p>As the new owner of the plant, Holtec will contract with Comprehensive Decommissioning International, LLC (CDI) to perform the decontamination and decommissioning of the plant. CDI is a joint venture company of Holtec and SNC-Lavalin. Headquartered in Camden, N.J., CDI will bring the expertise of both companies together to ensure safe, rapid, and economic nuclear plant decommissioning. With its experience and state-of-the-art technologies, CDI is well equipped to decommission Oyster Creek within eight years, more than 50 years ahead of the industry-allowed 60-year timeline.</p><p>As part of the sale agreement, CDI will offer employment to Oyster Creek decommissioning employees, effective upon the transaction closing. </p><p>Holtec will submit a new Oyster Creek decommissioning plan, which must be reviewed and approved by the NRC. The process provides opportunities for public review and comment on the plan during the NRC evaluation period.</p><p>Holtec recently submitted a license application for an autonomous consolidated interim storage facility (CISF) in New Mexico to accept spent nuclear fuel from all nuclear plants in the U.S., including from Oyster Creek.  Once licensed, fuel could be sent to the New Mexico CISF based upon the established use of interim storage locations by the federal government which would allow Holtec to return the full site to unrestricted use once the fuel has been transported off-site. </p><p>The funds from the site’s decommissioning trust will be transferred to Holtec upon closing and will be used by Holtec to cover the cost of the decommissioning. The trust fund was established decades ago to pay for decommissioning, and no additional funds from utility customers will be required.</p><p>In February 2018, Exelon Generation announced Oyster Creek will permanently shut down this fall at the end of its current operating cycle. Exelon Generation is required to close Oyster Creek no later than December 2019 as part of an agreement with the State of New Jersey. </p><p>Oyster Creek is located about 60 miles east of Philadelphia in Ocean County, N.J. The plant produces 636 net megawatts of zero-emission electricity at full power, enough electricity to supply 600,000 typical homes, the equivalent to all homes in Monmouth and Ocean counties combined. </p>http://www.exeloncorp.com/newsroom/holtec-international-to-purchase-oyster-creek7/31/2018 11:00:00 AM
Ginna Nuclear Power Plant Hosts Community Information Night July 31Ginna Nuclear Power Plant Hosts Community Information Night July 31<p></p><p><strong>ONTARIO, N.Y.</strong> – Ever wonder how nuclear power is generated or how a nuclear power plant works? If you attend Ginna’s Community Information Night, you’ll find answers to these questions and many more. You’ll also see firsthand how the plant produces carbon-free nuclear energy in Wayne County to power nearly 500,000 area homes. The free event will be held outside Ginna’s Training Center on Tuesday, July 31 from 4-8 p.m. </p><p>Plant employees will be on hand to talk with visitors on Ginna’s operations, site maintenance, engineering practices, environmental stewardship, radiological safety, emergency preparedness and much more. Visitors can also tour the plant’s control room simulator, which is used for training reactor operators. </p><p>This year’s event will also feature an electric car ride and drive event. Test drives will be available on a first-come, first-served basis with a valid driver’s license. Refreshments will be provided. Members of the public may register online at <a href="http://ginnacommunitynight.eventbrite.com/">http://ginnacommunitynight.eventbrite.com</a>. </p><p>Community Information Night is an important part of Ginna’s annual public information and outreach campaign, designed to engage and educate the public on plant operations. Throughout the year, Ginna employees are active in the community; volunteering, visiting area schools, speaking at community events and financially supporting dozens of civic and charitable organizations.</p><p>R.E. Ginna Nuclear Power Plant is located on 426 acres along the south shores of Lake Ontario in Ontario, NY, about 20 miles northeast of Rochester and 53 miles southwest of Exelon's Nine Mile Point Nuclear Station. The plant generates enough carbon-free electricity for nearly 500,000 homes.</p>http://www.exeloncorp.com/newsroom/ginna-community-information-night-july-317/24/2018 4:30:00 PM

Twitter Rollup

0% 100%

 

 

Kenneth W. CornewGP0|#fde14288-abab-499f-a00c-4b9efe367a54 L0|#0fde14288-abab-499f-a00c-4b9efe367a54|Exelon Corporate GTSet|#bb697efb-4d63-4298-b4d0-ab279caf3fe8 GP0|#036d7cad-49e3-4a98-8821-efa704301d6d L0|#0036d7cad-49e3-4a98-8821-efa704301d6d|Exelon GenerationSenior Executive Vice President and Chief Commercial Officer, Exelon Corporation; President and CEO, Exelon GenerationKennethCornew<img alt="" src="/leadership-and-governance/executives/PublishingImages/Ken_Cornew.png?RenditionID=11" style="BORDER:0px solid;" />http://www.exeloncorp.com/leadership-and-governance/executives/kenneth-w-cornewKenneth W. Cornew
Michael PacilioGP0|#036d7cad-49e3-4a98-8821-efa704301d6d L0|#0036d7cad-49e3-4a98-8821-efa704301d6d|Exelon Generation GTSet|#bb697efb-4d63-4298-b4d0-ab279caf3fe8Executive Vice President and Chief Operating Officer, Exelon GenerationMichaelPacilio<img alt="" src="/leadership-and-governance/executives/PublishingImages/Mike_Pacilio.png?RenditionID=11" style="BORDER:0px solid;" />http://www.exeloncorp.com/leadership-and-governance/executives/michael-pacilioMichael Pacilio
John BarnesGP0|#036d7cad-49e3-4a98-8821-efa704301d6d L0|#0036d7cad-49e3-4a98-8821-efa704301d6d|Exelon Generation GTSet|#bb697efb-4d63-4298-b4d0-ab279caf3fe8 GP0|#143bc214-612e-4c31-9aaf-11127e1cfc32 L0|#0143bc214-612e-4c31-9aaf-11127e1cfc32|Exelon PowerSenior Vice President, Exelon Generation & President, Exelon PowerJohnBarnes<img alt="" src="/leadership-and-governance/executives/PublishingImages/Jonh%20Barnes.jpg?RenditionID=11" style="BORDER:0px solid;" />http://www.exeloncorp.com/leadership-and-governance/executives/john-barnesJohn Barnes
Bryan HansonGP0|#036d7cad-49e3-4a98-8821-efa704301d6d L0|#0036d7cad-49e3-4a98-8821-efa704301d6d|Exelon Generation GTSet|#bb697efb-4d63-4298-b4d0-ab279caf3fe8Senior Vice President, Exelon Generation, and President and Chief Nuclear Officer, Exelon Nuclear BryanHanson<img alt="" src="/leadership-and-governance/executives/PublishingImages/Bryan_Hanson.png?RenditionID=undefined" style="BORDER:0px solid;" />http://www.exeloncorp.com/leadership-and-governance/executives/bryan-hansonBryan Hanson