Kenneth W. Cornew
Executive Vice President and Chief Commercial Officer, Exelon Corporation; President and CEO, Constellation
A 25-year veteran of the electric utility industry, Cornew leads Constellation, Exelon’s competitive retail and commodities businesses. He is responsible for the marketing of electricity, natural gas and other energy-related products and services to Constellation customers in 45 states, the District of Columbia and parts of Canada, as well as ensuring the optimization of Exelon’s generation portfolio by obtaining maximum value for power produced while managing risk for the Company and its shareholders.
Cornew previously served as senior vice president of Exelon and president of Exelon Power Team. In that role, which he assumed in 2008, he oversaw the power marketing and trading function of one of the nation’s largest, most diversified generation portfolios, consisting of assets in the Mid-Atlantic, Midwest, Northeast, Southeast and Texas with a total revenue of over $10 billion in 2011. He also oversaw the growing retail business of Exelon Energy, serving electric and gas retail customers in Illinois, Ohio, Pennsylvania and Michigan.
Cornew has been part of Exelon Power Team since its inception in 1994 when the group was created to sell into the wholesale power market the output of Exelon generation and to grow the wholesale energy portfolio. He was instrumental in developing and strategically organizing Power Team’s trading operation – including short and long term power transactions, generation scheduling and generation dispatch – which serves wholesale and retail load obligations and proprietary trading functions. He has been and continues to be a leader in regulatory advocacy for the industry helping to shape the wholesale market evolution in the various regions of the country where Exelon has generation assets. Cornew currently serves on the Executive Committee of the Electric Power Supply Association.
Cornew also has heavily supported merger and acquisition activities and corporate strategy for Exelon Corporation. Cornew performed an active role in the merger of Exelon and Constellation, as well as the creation of Exelon through the integration of Unicom’s and PECO Energy’s power marketing groups and their generation and load portfolios. He was also an instrumental member of a team that evaluated the AmerGen nuclear generation asset acquisition which resulted in the purchase of ownership interest in Oyster Creek Generating Station in New Jersey, Clinton Power Station in Illinois and Three Mile Island Generating Station in Pennsylvania.
Early in his career, Cornew worked in PECO Energy’s regulated retail business as a large industrial account manager in southeastern Pennsylvania. He was also an engineer in the PJM Interconnection L.L.C. where he scheduled generation and power interchange as well as evaluated the performance of PJM’s generation dispatch and transmission scheduling operations.
Cornew obtained a bachelor’s degree in electrical engineering from Rutgers University and a master’s degree in business administration from Drexel University.