Exelon has identified five long-term growth opportunities that will allow us to increase our scope and scale to succeed throughout industry cycles, as well as adapt our generation, transmission, delivery and marketing portfolio to the changing marketplace. These factors position Exelon for sustained value for years to come.
Nuclear Uprates
Nuclear uprates are safe, economical and proven methods to improve efficiency and output. Our incremental nuclear uprate plan provides a very attractive growth opportunity and supports the Exelon 2020 goal of reducing emissions and creating more low-carbon energy.
- The uprates give us the potential to add the generating output equivalent to one new nuclear unit at about half the cost and no incremental operating costs.
- Unlike building new reactors, the uprate program represents close to 20 discrete projects with off-ramps if future economics or state/federal legislation no longer support them.
- We face substantially lower execution risk compared to building a new nuclear unit on either a green or brownfield site.
Over the past 10 years, Exelon has already added the output equivalent to a new unit to our existing fleet by successfully completing various types of uprates. Our recent decision to pursue an early site permit rather than a construction and operating license for Victoria County reflects the greater risk of new build in our current economy.
Power Price Recovery
Exelon is positioned to benefit from the recovery in natural gas and coal prices, heat rates and demand growth. $0
Minimizing Environmental Risks
Exelon believes the evidence of global climate change is compelling, and that carbon emissions must be addressed in current operations and considered in future investments in order to minimize related business risks. Exelon has focused on carbon emissions first because our industry is a chief contributor of GHG emissions. Our strong commitment to carbon emissions abatement goals and our efforts to provide low-carbon electricity at affordable prices plays an influential role within the industry to affect change. And yet as the industry begins to grapple with an expanded view of the environmental issues associated with generation options, so has Exelon 2020, which this year incorporates other pollutants in its assessment of how best to meet society's need for clean, safe, affordable, and reliable energy.
- Our carbon intensity, measured in metric tons of CO2 emitted per megawatt-hour (MWh) generated, is the lowest of all generating companies.
- Exelon had retrofit all of its wholly-owned coal-fired plants with SO2 controls by 1985; by 2009, all of the other coal plants in which Exelon has an ownership stake had also installed scrubbers.
- Our low-emissions nuclear fleet is advantaged relative to coal-fired generation due to the challenges in both cost and regulation that coal faces.
- Exelon's announcement about the future closure of fossil units at Eddystone and Cromby and Progress Energy's announcement that it is retiring about 1,500 MW of coal-fired generation show that smaller and less efficient coal plants will be challenged by EPA's current and future regulatory actions.
- Since the release of our Exelon 2020 business strategy in 2008, we are approaching 75% of our GHG emission abatement target, and continue to identify reliable, lower-cost electric supply options that achieve both carbon and other pollution reduction objectives.
As Exelon 2020 evolves, it has become an effective roadmap for capitalizing on our uniquely constituted generation fleet, guiding our investment decisions and framing our public policy advocacy.
“Exelon 2020 is extremely important to me because it both demonstrates our continued leadership on climate change and adds to the value of your company by encouraging us to do more with a smaller footprint.”
Exelon Transmission Company
Exelon is leveraging our transmission expertise and created Exelon Transmission Company in 2009. This is a tremendous market opportunity as the U.S. is expected to invest $60-$100 billion in transmission over the next 10 years.
New transmission projects in our historic footprint and beyond will:
- Reduce congestion
- Improve reliability
- Facilitate the movement of renewable energy from the upper midwest and the Dakotas to population centers
- Mitigate oversupply
Investments in transmission would further enhance competitive markets that have brought real benefits to consumers and will present long-term growth opportunities for our shareholders.
Investments in transmission would further enhance competitive markets that have brought real benefits to consumers and will present long-term growth opportunities for our shareholders. Exelon Transmission Company leverages existing capabilities and offers a phased approach to disciplined, high-return growth.
Learn more at the Exelon Transmission Company website.
New Technology
PECO’s New Technology Investment. PECO’s $650 million technology initiative is one of the largest investments in the company’s more than 100 year history. This technology will help us more efficiently operate our system and provide future new products and services to our customers. Work is underway at PECO to install new metering technology for all of our 1.6 million electric customers during the next 10 years -- 5 years earlier than required under Pennsylvania law, thanks to a $200 million stimulus grant awarded by the US Department of Energy.
ComEd’s Smart Meter Program. Over the next 10 years, ComEd will invest $1.3 billion in smart grid technologies. These investments will result in improved system reliability, enhanced customer service and a modern electric distribution system – one that will support the greener, digital economy of the future.
The beginning phase incorporates technologies that are proven to result in fewer and shorter outages, and that provide customers with real-time data to make smarter choices about electricity use. This technology includes advanced smart meters and distribution automation equipment.