Tag Archives: Exelon

Exelon (EXC) Subsidiary PECO Selects Comverge (COMV) Demand Response Solution

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Exelon’s (EXC) PECO subsidiary in Pennsylvania has selected Comverge’s (COMV) Apollo Demand Response Management System to meet energy efficiency targets required by Pennsylvania Act 129.  For the next 3 years Comverge will provide full turnkey services including call center services and includes the installation of nearly 150K energy management devices.  This will be largest demand response deployment in Pennsylvania.  PECO was one of the six recipients of … Read the rest

Uranerz (URZ) Signs Uranium Supply Contract With Exelon (EXC)

Uranerz just announced that it has signed a uranium supply contract with Exelon Generation Company, LLC. The contract covers a 5-year period includes defined pricing each year. In the announcing the deal, no other details about the agreement were forthcoming. If you have more information about the terms, feel free to leave a comment!

However, Uranerz investors will probably be happy to know that the company continues to look for other uranium sales agreements to … Read the rest

Takeover Battle Is Over, Exelon (EXC) Withdraws NRG Energy (NRG) Bid

The nine month takeover drama between NRG Energy and Exelon Corporation is over. NRG shareholders voted to reject the bid yesterday by refusing to elect Exelon’s nominees for NRG’s Board of Directors. They also refused to expand the size of NRG’s Board to include additional Exelon candidates. According to NRG, 75% of its shareholders voted against Exelon.

In an article in the New York Times, Exelon’s CEO John W. Rowe made the following comment:

“The … Read the rest

NRG Energy (NRG) To Exelon (EXC): No Deal

NRG Energy just announced that its Board of Directors has rejected Exelon’s revised offer for the company. The vote was unanimous and was based on the belief that Exelon is undervaluing NRG, even with its revised offer, with was equivalent to $27 per share. NRG’s Board sent a letter to Exelon calling the revised offer a “step in the right direction” and explaining the specific areas in which the company believes it is being undervalued, … Read the rest

Exelon (EXC) Slashes 500 Jobs As Cost-Cutting Measure

Exelon just announced that is will be slashing 500 jobs as part of a company-wide cost-cutting campaign. As a result, the utility expects to post a charge of $40 million in the second quarter of this year, but will save $350 million in 2010 in operating and maintenance costs.  Most of the positions being eliminated are in corporate support, but the program will also affect executive-level employees by freezing salaries and changing compensation plans.

In … Read the rest

Exelon (EXC) Advises Only 12% Of NRG (NRG) Shares Tendered in Hostile Takeover Bid

Exelon just announced that support for its $6.2 billion bid to takeover NRG Energy appears to have waned among NRG shareholders. Exelon still wants to take over the company, but in a letter to NRG shareholders, it advised that only about 12% of NRG’s outstanding shares had been tendered, a big drop from February’s statistic of 51%. The two companies are counting down to a crucial NRG stockholder’s meeting on July 21, when shareholders will … Read the rest

Exelon (EXC) Signs Uranium Contract With Russia

According to Reuters, Exelon Energy Co just announced that it has signed a uranium supply deal with Tenex, a Russian nuclear fuel exporter owned by the Russian government. Under the terms of the agreement, Tenex will supply Exelon with uranium for nuclear energy for a period of six years, from 2014 to 2020.

The amounts of uranium involved were not disclosed. Nor were the financials of the deal.

:::: >>> … Read the rest

Exelon (EXC) To Provide Customers With Emission Free Energy Certificates

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’s ComEd (EXC) Has The Nation’s 7th Largest Fleet Of Green Vehicles

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

Shareholders Support Exelon-NRG Combination (EXC, NRG)

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

Read the rest