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4-Traders Homepage  >  Equities  >  Nyse  >  Exelon Corporation    EXC

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Exelon : More Than 1,700 System Projects Completed to Enhance Natural Gas and Electric Service for PECO Customers

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10/19/2017 | 12:01pm CEST

PHILADELPHIA, Oct. 18 -- PECO, a subsidiary of Exelon, issued the following news release:

PECO completed more than 1,700 projects to enhance natural gas and electric service for customers since April. These system enhancement projects are part of the company's efforts to provide customers with safe and reliable energy services. The company invests more than $500 million each year to enhance its system infrastructure through preventive maintenance and equipment upgrades.

Through PECO's System 2020 plan, the company is investing an additional $274 million through 2020 to install advanced equipment and reinforce the local electric system, making it more weather resistant and less vulnerable to storm damage.

"We work year-round to ensure safe and reliable natural gas and electric service for our customers by proactively monitoring our systems and identifying opportunities for improvement," said Mike Innocenzo, senior vice president and COO. "Through these ongoing system investment initiatives, we continue to enhance our service to meet the energy needs of our customers."

PECO completed more than 1,500 projects to ensure safe and reliable natural gas service for customers. This includes equipment inspections, repairs and replacements, and preventive maintenance on the company's natural gas transmission and distribution system. From April through June, PECO inspected nearly 1,300 miles of natural gas main, completed more than 3,700 valve inspections and replaced more than 13 miles of natural gas main with plastic pipe, which enhances safety, is more durable and improves service.

PECO also completed more than 270 electric system projects since April, including seven System 2020 projects. Specifically, more than 43 corrective and preventive maintenance projects were completed. PECO continued to upgrade and install advanced equipment throughout the region, adding 19 new aerial devices called reclosers to its distribution system. When a problem occurs, like a fallen tree limb, lightning strike or vehicle accident, the recloser stops the flow of electricity on the line and automatically restores electricity if possible. There are more than 1,750 reclosers on PECO's system, which prevented more than 173,500 sustained power interruptions for PECO customers from April through June.

To help prevent power outages caused by vegetation, PECO also installs reinforced tree-resistant aerial electric lines. These lines are stronger than traditional lines and can better withstand falling trees and tree limbs. PECO now has more than 21 miles installed across the service territory. Rigorous tree trimming also continues to limit the number of power outages caused by trees and other vegetation. As part of this work, PECO will invest about $41 million in vegetation management work around 3,400 miles of aerial electric lines in 2017.

PECO, founded in 1881, is Pennsylvania's largest electric and natural gas utility. Headquartered in Philadelphia, PECO delivers energy to more than 1.6 million electric customers and more than 516,000 natural gas customers in southeastern, Pennsylvania. The company's 2,500 employees are dedicated to the safe and reliable delivery of electricity and natural gas as well as enhanced energy management conservation, environmental stewardship and community assistance. PECO was named 2017 Best Mid-size Employer in Philadelphia by Forbes Magazine. The company also has an estimated annual economic impact of $4.3 billion in Pennsylvania, supporting more than 8,700 local jobs and producing $732 million in labor income. PECO is a subsidiary of Exelon Corporation (NYSE: EXC), the nation's only Fortune 100 utility and leading competitive energy provider. For more information visit PECO.com, and connect with the company on Facebook and Twitter.

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Financials ($)
Sales 2017 32 143 M
EBIT 2017 5 180 M
Net income 2017 2 602 M
Debt 2017 34 066 M
Yield 2017 3,32%
P/E ratio 2017 14,81
P/E ratio 2018 13,80
EV / Sales 2017 2,24x
EV / Sales 2018 2,27x
Capitalization 38 039 M
Chart EXELON CORPORATION
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Exelon Corporation Technical Analysis Chart | EXC | US30161N1019 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 41,4 $
Spread / Average Target 4,5%
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Managers
NameTitle
Christopher M. Crane President, Chief Executive Officer & Director
Mayo A. Shattuck Independent Chairman
Jonathan W. Thayer Chief Financial Officer & Senior Executive VP
Michael R. Koehler Senior VP, Chief Information & Digital Officer
John Washington Rogers Independent Director
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