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EXELON CORPORATION (EXC)
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Exelon : ICC Approval Jumpstarts ComEd Plan for Solar, Renewables Growth

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10/03/2017 | 09:03pm CET

Community Supply expected to grow enough solar and wind energy to power one million Illinois homes

The ICC has approved ComEd's plan to expand the energy choices of Illinois consumers by opening the market for community energy. Community solar development is a feature of the Future Energy Jobs Act.

Community renewable projects are designed to provide access to renewables, particularly solar to customers who want to share in the benefits of renewables, but for whom a private solar unit may not be feasible. By subscribing to a community-scale project, customers can reap the environmental and any financial benefits renewables have to offer without the investment required by private solar projects. Owners or operators of a Community Supply project would produce and provide energy to the grid, while subscribers to the project would receive credits based on their share of the total energy produced.

"ComEd's community solar plan expands choice for consumers by giving ComEd customers a new option in their energy menu,” said Anne Pramaggiore, ComEd President and CEO. "ComEd's plan is an important step to Illinois' energy future both because it expands consumer choice and because it animates Illinois' new energy economy."

FEJA pivots Illinois to the new clean energy economy, saving and creating thousands of clean energy jobs and providing job training for the future workforce, while also creating significant consumer and environmental benefits. This comprehensive, bipartisan legislation jumpstarts renewables in Illinois, setting the stage to grow enough solar and wind energy to power one million homes. It also nearly doubles energy efficiency programs, creating more than $4 billion in consumer savings and reducing the amount CO2 in the air equivalent to removing 18 million cars from the road. Further, the Act contains significant programs for low-income communities and extends ComEd’s customer assistance programs through 2021.

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NYSE: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 3.9 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com, and connect with the company on Facebook, Twitter and YouTube.


© Business Wire 2017
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Financials ($)
Sales 2017 32 128 M
EBIT 2017 5 098 M
Net income 2017 2 626 M
Debt 2017 33 615 M
Yield 2017 3,24%
P/E ratio 2017 15,80
P/E ratio 2018 14,53
EV / Sales 2017 2,26x
EV / Sales 2018 2,24x
Capitalization 39 145 M
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Number of Analysts 17
Average target price 42,9 $
Spread / Average Target 5,3%
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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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