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 two hydroelectric power plants that consist of 19 units which provide 1,642 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.
- In 2010, Exelon acquired 735 MW of wind energy through the purchase of John Deere Renewables.
- Exelon Power has worked with PJM Interconnection on its plans to permanently retire three coal-fired units: Unit 1 at Cromby Generating Station and Unit 1 at Eddystone Generating Station retired on May 31, 2011, and Eddystone Unit 2 will retire effective June 1, 2012. Additionally, the gas- and oil-fired Cromby Unit 2 retired effective Dec. 31, 2011, and the Cromby Station closed entirely at that time.
- 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 and the third largest fleet in the world. Exelon’s 10 power plants with 17 reactors represent approximately 20% of the U.S. nuclear industry’s power capacity.
- Exelon’s nuclear plants had an overall capacity factor of 93.3% in 2011; the ninth straight year our capacity factor exceeded 93%.
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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 MW of owned and contracted electricity and 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 home 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.
- Exelon Power Team’s ability to maintain reliable delivery to its wholesale customers has established us as a preferred energy supplier throughout the industry. Power Team’s credit rating, supported by its portfolio management and financial hedging capabilities, is among the best in the industry.
- Since 2008, Exelon has added more than 100 MW in new nuclear generation, part of a series of planned capacity expansions across the existing nuclear fleet through 2017 that could create between 1,175 and 1,300 MW of additional generation capacity. We are investing more than $3 billion over the next several years to increase the low-carbon generation from our existing nuclear assets.
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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 the late 1990s, ComEd has invested more than $9 billion to expand, upgrade and maintain the reliability of its system serving 3.8 million customers in Northern Illinois through a transmission and distribution infrastructure modernization and enhancement program. Overall since 1998, service reliability has improved significantly, reducing outage frequencies by 54% and duration by 59%.
- 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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