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Exelon Generation

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 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 Announces CEO and CFO for Utility and Competitive Energy Businesses in Support of SeparationExelon Announces CEO and CFO for Utility and Competitive Energy Businesses in Support of Separation<div><strong>CHICAGO</strong> — Exelon Corp. (Nasdaq: EXC) today announced the senior leadership of the transmission and distribution utility business and the competitive power generation and retail energy business that will result from the planned separation of the companies. </div><div><br></div><div>Christopher Crane, Exelon president and CEO, will continue as CEO of the regulated utility business, which will be called Exelon, and Joseph Dominguez, currently CEO of ComEd, has been named CEO of Exelon Generation and incoming CEO of the competitive energy business, which will be called Constellation. The company also announced that Joseph Nigro, Exelon CFO, will continue as CFO of Exelon, and Daniel Eggers, currently senior vice president of corporate finance for Exelon, has been named CFO of Exelon Generation and incoming CFO of Constellation. Dominguez and Eggers will move into their new roles immediately, and Crane and Nigro will remain in their current roles.</div><div><br></div><div>Calvin Butler, currently CEO of Exelon Utilities, will assume the role of interim CEO of ComEd, in addition to his current duties. </div><div><br></div><div>The separation remains on track to close in the first quarter of 2022, pending completion of the remaining regulatory approvals. </div><div><br></div><div>These announcements mark the latest milestone in the separation process, which was first announced in February. The transaction will give each company the financial and strategic independence to focus on its unique customer needs, while remaining focused on its core business strategy.</div><div><br></div><div>“The two companies will be leaders in their respective industries and will have the resources necessary to best serve their respective customers and sustain long-term investment and operating excellence,” Crane said. “As an independent company, Exelon will lead the way toward a brighter and cleaner energy future for our more than 10 million electric and gas customers, while continuing to invest in critical infrastructure, expand economic opportunity and promote equity in all the communities we serve.”</div><div><br></div><div>“Constellation will be the largest producer of clean energy in the nation by a wide margin, giving our expansive customer-facing platform a competitive edge as consumers and policymakers increasingly demand sustainable energy solutions,” Dominguez said. “I’m excited about the opportunity to lead such a talented workforce as we seek new opportunities to help our customers and communities reduce pollution and power a next-generation energy grid.”</div><div><br></div><div><strong>About Chris Crane:</strong></div><div>Crane has served as president and CEO of Exelon Corp. since 2012, overseeing the nation’s leading competitive power provider and the largest utility company by customer count. During his tenure, he has led the company through major acquisitions, capital programs and cost management initiatives, while growing revenue from $23.5 billion in 2012 to $33 billion in 2020. Prior to being named CEO, he served as president and chief operating officer of the company, overseeing one of the nation’s largest portfolios of electric power facilities, including the nation’s largest fleet of nuclear plants. He has held a variety of progressively more responsible positions over the course of his more than 30-year career. He joined Exelon (then ComEd) in 1998 and was named chief nuclear officer in 2004. He played a key role in transforming the nuclear fleet into an industry leader in operational, safety, management, regulatory, workforce and financial practices. He assumed responsibility for Exelon’s fossil, hydro and renewables facilities, in addition to the nuclear fleet, in 2007. He oversaw a broad range of generation business development initiatives, including new nuclear development, nuclear operating services, development of the largest urban solar project and asset optimization. He was named president of Exelon Generation in 2008. Prior to joining Exelon, Crane served as Browns Ferry site vice president for Tennessee Valley Authority and worked in new plant start-up at the Comanche Peak Nuclear Power Plant in Texas and Palo Verde Nuclear Generating Station in Arizona. You can read his full bio <a href="/_layouts/15/FIXUPREDIRECT.ASPX?WebId=46aca0bd-9475-475f-8be9-f47e2b709dbc&TermSetId=b5c9e82c-96f1-448b-b4f9-8da8cda4ade1&TermId=6f72d498-9f18-4c5c-b1ab-f7902928db8b" title="Chris Crane">here</a>.</div><div><br></div><div><strong>About Joseph Nigro:</strong></div><div>As Exelon’s chief financial officer, Nigro is responsible for overseeing the execution of all financial activities, including capital investment, financial reporting, planning, risk management, tax and insurance. He also leads the treasury function in developing and implementing financing plans, and investor relations. Prior to his current role, Nigro served as CEO of Constellation, Exelon’s competitive retail and wholesale energy business. He was responsible for marketing electricity, natural gas and other energy-related products and services for Constellation customers, as well as optimizing the value of Exelon’s generation output. Prior to his CEO role, Nigro served as senior vice president, portfolio strategy, for Constellation. He led the portfolio management, structuring, quantitative analysis, transmission analysis, fundamental forecasting, strategic business and other functions. Nigro joined Exelon’s PECO Power Team in 1996 and later held a series of roles on the Exelon Power Team, including senior vice president of portfolio management and strategy. Prior to joining Exelon, he spent seven years with Phibro Energy Inc., an independent trading and refining company in Greenwich, Conn., and Houston. You can read his full bio <a href="/_layouts/15/FIXUPREDIRECT.ASPX?WebId=46aca0bd-9475-475f-8be9-f47e2b709dbc&TermSetId=b5c9e82c-96f1-448b-b4f9-8da8cda4ade1&TermId=9d728ba9-e4f9-4c71-9150-08f52ca0670a" title="Joseph Nigro">here</a>.</div><div><br></div><div><strong>About Joseph Dominguez:</strong></div><div>Dominguez became CEO of ComEd in 2018, overseeing management of the electric grid serving more than 4 million customers in Chicago and most of northern Illinois. He led ComEd during a period of record performance for customers, including best-ever reliability and customer satisfaction. However, the majority of his more than 20-year career at Exelon has been working on behalf of the generation business, leading transformational changes in the policy landscape supporting zero emission nuclear energy, negotiating large commercial transactions and cementing Exelon Generation’s reputation as the leading provider of clean energy solutions in the U.S. For much of that time Dominguez served as executive vice president of governmental and regulatory affairs and public policy for Exelon. In that role, he led the development and implementation of federal, state and regional governmental, regulatory and public policy strategies for the company. Dominguez began his career at Exelon in 2002 as associate general counsel, taking responsibility for all litigation matters in the mid-Atlantic region. He was named general counsel for Exelon utility PECO in 2004, and in 2007 was named senior vice president of state regulatory and government affairs and general counsel of Exelon Generation. His role expanded in 2009 to include senior vice president of communications, and in 2010 he was named senior vice president of federal regulatory affairs and public policy for Exelon. Prior to Exelon, Dominguez was a partner in the law firm of White and Williams, LLP, with a broad-based litigation practice counseling large and small corporations, institutions and government entities. He also is a former assistant U.S. Attorney, Eastern District of Pennsylvania, where he spearheaded the investigation and prosecution of numerous crimes, ranging from money laundering to murder-for-hire. You can read his full bio <a href="/_layouts/15/FIXUPREDIRECT.ASPX?WebId=46aca0bd-9475-475f-8be9-f47e2b709dbc&TermSetId=b5c9e82c-96f1-448b-b4f9-8da8cda4ade1&TermId=2ea19d15-b066-4be7-abb9-9cde30dac550" title="Joe Dominguez">here.</a></div><div><br></div><div><strong>About Daniel Eggers:</strong></div><div>Eggers currently serves as senior vice president of Corporate Finance, leading the investor relations, treasury, corporate planning, corporate financial operations and insurance functions. He and his team serve as the primary interface between Exelon and the financial community, including investors and rating agencies, and are responsible for explaining the company’s financial, strategic, operational and regulatory goals and results. He joined the company in 2016 as senior vice president of investor relations, taking responsibility for developing and managing strategy and message content for external financial communications, including earnings and other investor presentations. In 2018 he was named a top IR professional in the utilities sector by Institutional Investor. Prior to Exelon, Eggers was a managing director at Credit Suisse in the Investment Banking division. He served as a member of the Equity Research department, where he covered regulated utility, integrated power and independent power producer stocks, including Exelon. He also served as co-head of U.S. Energy Research and had macro coverage responsibilities for the power sector, as well as wind energy and carbon policy. Over his 18-year career at Credit Suisse, he was a top-ranked analyst in the Institutional Investor Poll and the Bloomberg/Greenwich Associate poll, and also received awards for stock picking and estimate accuracy from Starmine, among other honors. You can read his full bio <a href="/_layouts/15/FIXUPREDIRECT.ASPX?WebId=46aca0bd-9475-475f-8be9-f47e2b709dbc&TermSetId=b5c9e82c-96f1-448b-b4f9-8da8cda4ade1&TermId=54bb2722-d5e8-467a-bb70-b4aa0a5bc82f" title="Dan Eggers">here</a>.</div><div><br></div><div><strong>Timing and Approvals</strong></div><div>Closing of the transaction in the first quarter of 2022 is subject to final approval by the company’s Board of Directors, a Form 10 registration statement being declared effective by the Securities and Exchange Commission, the receipt of remaining regulatory approvals and the satisfaction of other conditions. The transaction was approved by the Federal Energy Regulatory Commission in August. Approval by the Nuclear Regulatory Commission and New York Public Service Commission remains pending. Exelon shareholder approval is not required. There can be no assurance that any separation transaction will ultimately occur or, if one does occur, of its terms or timing.</div><div><br><br></div><p><br></p>https://www.exeloncorp.com/newsroom/exelon-announces-ceo-and-cfo-for-utility-and-competitive-energy-businesses-in-support-of-separation10/1/2021 10:00:00 AM
Illinois Clean Energy Legislation Spurs Exelon Generation to Fill 650 Jobs, Invest $300 Million in Capital ProjectsIllinois Clean Energy Legislation Spurs Exelon Generation to Fill 650 Jobs, Invest $300 Million in Capital Projects<div><strong>WARRENVILLE, Ill.</strong> — Now that the Illinois General Assembly has passed sweeping clean energy legislation preserving its nuclear plants, Exelon Generation is moving quickly to fill 650 vacant positions across the state and jumpstart more than $300 million in capital projects over the next five years at its Illinois nuclear stations to continue its legacy of safety and reliability. </div><div><br></div><div>“With this landmark legislation in place, we are moving quickly to restaff and refuel all of our nuclear plants for 24/7 operation, producing carbon-free, baseload electricity for more than 10 million homes and businesses,” said Dave Rhoades, Exelon Generation’s Chief Nuclear Officer. “These plants are not only important for the clean energy they produce, but they are massive economic engines for their local communities, contributing more than $1.6 billion to Illinois’ GDP each year.” </div><div><br></div><div>Byron Station began refueling Unit 1 after Gov. J.B. Pritzker signed the clean energy legislation. While the nuclear support provision represents less than 20 percent of the cost of the overall legislation in the coming years, it has an outsized impact on the state’s climate and economic goals. Saving the plants preserves two-thirds of the state’s clean energy, avoids a 70 percent rise in emissions, protects 28,000 direct and indirect jobs, and prevents a $480 million increase in annual energy prices for consumers.<br></div><div><br></div><div><strong><em>Photos and B-Roll from Byron’s refueling outage can be found </em></strong><a href="https://exelon.webdamdb.com/bp/#/downloadqueue/xVyC5qPKzdsSbA0M/source/0"><strong><em>HERE</em></strong></a><strong><em>.</em></strong> <br></div><div><br></div><div>With the legislation having taken effect, Byron Station plans to invest more than $140 million into the plant in the next five years on projects overhauling a main generator, replacing large transformers, upgrading a fiber optic control system and replacing various pumps, motors and piping in the plant. Most of the projects will occur during refueling outages starting next year that will include more than 1,500 electricians, pipe fitters, welders, carpenters and other tradespeople coming to Byron from across Illinois to perform the work.</div><div><br></div><div>“We’re incredibly pleased to see all the union contract workers at Byron Station helping the full-time employees refuel Unit 1,” said Byron Mayor John Rickard. “It would have been terrible for the environment and devastating for our community had the plant been allowed to shut down. We’re relieved the plant gets to continue supporting our community with jobs, philanthropy and tax funding for our schools and essential services, while producing clean energy at a time when clean energy is needed more than ever.”</div><div><br></div><div>Dresden’s Unit 2 refueling outage will occur in November, and the station has nearly $170 million in capital projects planned over the next five years, including upgrades to six feedwater heat exchange vessels, significant refurbishment of a main generator, electrical component overhauls, replacement of closed cooling piping and revamping nuclear instrumentation circuit components. As with Byron, the work on these projects will be performed during refueling outages by union personnel.  </div><div><br></div><div>“Exelon refueling outages put thousands of people to work in Illinois, providing jobs to skilled local and regional union and tradespeople,” said Terry McGoldrick, President and Business Manager of IBEW Local 15. “Keeping these plants open was the right decision, and I’m pleased the General Assembly made this investment in the future of our workforce, our communities and our nuclear plants.”</div><div><br></div><div>Byron and Dresden will also soon begin the first of multiple new training classes for dozens of licensed operators who will become the next generation of employees operating the plants and helping to keep our state’s air clean.</div><div><br></div><div>People interested in applying for positions at Exelon Generation can visit the <a href="https://jobs.exeloncorp.com/">careers page on Exeloncorp.com</a> and search for nuclear.</div><div><br></div><div>Exelon’s Illinois nuclear fleet produces more than 50 percent of the state’s electricity and nearly 90 percent of its carbon-free power. The fleet includes Braidwood Generating Station in Will County, Byron Generating Station in Ogle County, Clinton Power Station in DeWitt County, Dresden Generating Station in Grundy County, LaSalle County Generating Station and Quad Cities Generating Station in Rock Island County.</div><div><br><br></div>https://www.exeloncorp.com/newsroom/illinois-clean-energy-legislation-spurs-exelon-generation-to-fill-650-jobs-invest-$300-million-in-capital-projects9/29/2021 2:00:00 PM
Passage of Illinois Energy Legislation Preserves Nuclear Plants and Strengthens State’s Clean Energy LeadershipPassage of Illinois Energy Legislation Preserves Nuclear Plants and Strengthens State’s Clean Energy Leadership<div><strong>CHICAGO</strong> — Exelon Generation said today that it is preparing to refuel its Byron and Dresden nuclear plants as a result of the action taken by the Illinois legislature to enact a comprehensive energy bill. Once signed by the Governor, the legislation will strengthen Illinois’ clean energy leadership, protect the state’s economy by preserving tens of thousands of jobs and prevent an increase in pollution and energy costs that would harm consumers if the plants closed. <br></div><div><br></div><div>“We commend the Governor, the General Assembly, our partners at IBEW Local 15 and the coalition of labor leaders and members who worked so hard to pass this roadmap for rebuilding our economy and addressing the climate crisis by investing in clean energy in a way that ensures that jobs and environmental benefits are shared equitably,” said Christopher Crane, president and CEO of Exelon. “This new policy offers a better future for the employees who have run these plants at world-class levels, the plant communities that we are privileged to serve and all Illinoisans eager to build a clean-energy economy that works for everyone.” <br></div><div><br></div><div>The legislation promotes jobs and lowers carbon emissions by scaling up renewables, investing in electrification and adopting critical job training programs and labor standards. It also creates a process for the state to procure carbon mitigation credits from nuclear plants, which are critical to keeping Illinois on a path to reach net zero emissions by 2050. The bill will mitigate widely acknowledged flaws in regional energy markets and compensate nuclear plants for their clean-energy benefits in much the same way that wind and solar are compensated today. It also will put the state on a path to 100 percent clean energy at a fraction of the cost of achieving the same goal with only renewables.<br></div><div><br></div><div>More than 60 percent of Illinois’ electricity consumption and approximately 90 percent of its carbon-free energy comes from Exelon Generation’s six nuclear plants in Illinois. Studies have shown that when nuclear plants close, plants that burn fossil fuels operate much more often, increasing harmful carbon and air pollution, especially in disadvantaged communities. <br></div><div><br></div><div>Dresden Generating Station, located in Morris, Ill., was slated to retire in November and the Byron Generating Station, located just outside Byron, Ill., was scheduled to begin the defueling process and permanent shut down starting today. Despite being among the safest, most efficient and reliable units in the nation’s nuclear fleet, Dresden and Byron face revenue shortfalls in the hundreds of millions of dollars because of market rules that allow fossil fuel plants to underbid clean resources in regional electricity markets. </div><div><br></div><div>In addition to Byron and Dresden, the legislation creates an opportunity to preserve the Braidwood nuclear plant, which also is economically challenged and at imminent risk of premature retirement. The LaSalle nuclear plant also will remain operating for the five-year duration of the carbon mitigation credit program.<br></div><div><br></div><div>By supporting these always-on, zero carbon nuclear plants, the legislation ensures that Illinois stays on track to meet its climate goals at the lowest cost to consumers. Byron alone generates 30 percent more clean energy than comes from all the solar and wind ever built in Illinois.  An analysis by an independent consulting firm found that it would take $29 billion – or more than $6 per month for every Illinois household over the next 25 years – to replace just Byron’s carbon-free energy with renewable sources, much less reach 100 percent clean. <br></div><div><br></div><div>In January 2019, the state committed to reducing greenhouse gas emissions consistent with the targets set in the Paris climate agreement. Emissions-free energy from the four nuclear plants puts the state 85 percent toward the 2025 goal versus 20 percent had they retired prematurely and been replaced by polluting resources.</div><div><br></div><div>Once the legislation is signed into law, Exelon Generation will move to immediately fill hundreds of vacant positions and resume capital projects required for long-term operation. The company also will alert the Nuclear Regulatory Commission and PJM of the decision to keep the plants operating.</div><div> </div><div><strong>Additional background on the plants:</strong></div><div><ul><li>An independent analysis found that the four plants support 28,000 direct and indirect jobs and contribute more than $3.8 billion annually to the state’s GDP.</li><li>The same report concluded that electricity prices could increase by $3.1 billion to $4.8 billion over 10 years if the plants leave the market and are replaced with more expensive generation.</li><li>The baseload energy from the plants contributes to stable energy prices, which on average have been lower in northern Illinois than in any other PJM zone over the past decade. PJM includes all or parts of 13 states and the District of Columbia.</li></ul><strong></strong></div><div><br><br></div><p><br></p>https://www.exeloncorp.com/newsroom/passage-of-illinois-energy-legislation-preserves-nuclear-plants-and-strengthens-states-clean-energy-leadership9/13/2021 2:00:00 PM

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Bryan HansonGP0|#036d7cad-49e3-4a98-8821-efa704301d6d L0|#0036d7cad-49e3-4a98-8821-efa704301d6d|Exelon Generation GTSet|#bb697efb-4d63-4298-b4d0-ab279caf3fe8Executive Vice President and Chief Generation OfficerBryanHanson<img alt="Bryan Hanson Exelon Generation SVP" src="/leadership-and-governance/executives/PublishingImages/Exelon-Bryan-Hanson.png?RenditionID=11" style="BORDER:0px solid;" />https://www.exeloncorp.com/leadership-and-governance/executives/bryan-hansonBryan Hanson