Exelon (EXC) is announcing a program that allows its customers to be certified, emission free energy users. The new product, called an Emission-Free Energy Certificate (EFEC) will initially be limited to select commercial and industrial customers who already have an existing relationship with Exelon. Emission free energy is defined as energy that does not directly produce sulfur dioxide, nitrogen oxide or carbon dioxide and includes solar, wind, hydro, wave energy as well as nuclear. With … Read the rest
Exelon Energy has introduced a new product, the Emission-Free Energy Certificate, to help its business customers demonstrate their environmental commitment to the public. The certificate will be offered initially to existing commercial and industrial customers as part of a pilot program.
Each certificate will cover a certain amount of renewable energy. Customers who purchase solar PV, solar thermal, wind or wave energy would be eligible for certificates showing the amount of emissions-free energy purchased. The … Read the rest
NRG Energy released a statement yesterday in response to Exelon’s announcement that shareholders were in favor of combining the two companies. According to the statement, NRG is open to negotiating with Exelon, but only "at a fair exchange rate and on reasonable terms." NRG still feels that Exelon’s offer is unacceptable as is.
From MarketWatch, here’s a brief synopsis of Exelon’s offer:
In October, Exelon proposed to buy all outstanding shares of NRG common stock
A new report from GreenBiz.com and Automotive Fleet Magazine shows that ComEd, a unit of Exelon Corporation, has the nation’s seventh largest fleet of green vehicles. Among other utility companies, ComEd comes in second only to PG & E. ComEd’s fleet, which consists of 2,168 vehicles, reduces the company’s greenhouse gas emissions by approximately 4.200 Metric tons annually. Terence Donnelly, ComEd senior vice president of Transmission & Distribution, commented on the report in a press … Read the rest
According to Exelon, NRG shareholders have positively to its offer to combine the two companies, tendering 125,403,103 shares of NRG’s common stock, over 51% of the outstanding shares. Exelon has extended its offer deadline until June 26th to seek regulatory approval and solicit proxies to serve at the NRG shareholder meeting.
According to John Rowe, Exelon’s Chairman and CEO
“Yesterday’s result delivers another clear and convincing message to NRG’s board and management that a
Due to higher expenses, Exelon Energy’s third-quarter earnings have dropped from last year. The latest reports show income decreasing from 780 million, or $1.15 a share a year ago to $700 million, or $1.06 per share. Although this was below analyst’s expectations of $1.13/share, the decrease was partially due to some one-time big ticket expenses. as BullishBankers.com notes below:
During the last quarter, Exelon also encountered a few special items including an $80 million
Exelon, a power company with the nation’s largest fleet of nuclear reactors, made an all-stock bid to NRG Energy late Sunday, according to CNN Money. The deal would widen Exelon’s geographic reach, and also help improve NRG’s credit rating. The smaller company has about 8 million in debt. Here are some more details about the bid, from CNN Money
Chicago-based Exelon said in a press release that it had offered 0.485 of an
Update: Now it’s being dumped after hours.. down about 10%.
Sunpower (SPWRA) is out with earnings after the bell and missed badly reporting non GAAP EPS of just .05 share vs consensus estimates of .39. Revenues came in about 20% lower than the year ago quarter at $214 million which is considerably lower than estimates of $269.
The CEO commented that the quarter was the most challenging in its history, but despite the headwinds was … Read the rest
NRG Energy has issued an open letter to its shareholders regarding Exelon’s attempt to force a merger between the two companies. The letter argues that Exelon’s offer is not high enough to be fair to NRG’s stockholders and that NRG’s recent deals with Reliant Retail and eSolar have added value to the company. In the letter, NRG also expressed concern about Exelon’s financial standing, including its relative value, financing plan and managing plan.