Exelon

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Exelon Corporation

logo
legal form Corporation
ISIN US30161N1019
founding October 2000
Seat Chicago , USA
management Christopher Crane ( CEO )
Number of employees 28,993 (2014)
sales 27,430,000,000 US dollars (2014)
Branch Energy supplier
Website www.exeloncorp.com

Exelon Corporation (Exelon) is a large US utility company headquartered in Chicago . The company is listed on the S&P 500 stock index and the Dow Jones Utility Average . The company was formed in October 2000 through the merger of PECO Energy Company of Philadelphia and Unicom of Chicago (which was owned by Commonwealth Edison ).

Key figures

Exelon had 5.2 million electricity customers in 2015 and 460,000 gas customers in Philadelphia.

According to its own information, Exelon had around 34,000 employees in the USA in 2015 and generated sales of USD 34.5 billion in the same year . 2015 sales of USD 29.45 billion and profits of USD 2.27 billion are also cited.

Acquisitions

AmerGen

AmerGen Energy Company LLC was founded in 1997 as a joint venture between PECO Energy , one of the two predecessor companies of Exelon and British Energy (BE). In 2003 Exelon acquired the 50% stake in BE for $ 276.5 million. Florida Power & Light originally wanted to take over BE's stake for this amount, but Exelon exercised its right of first refusal . This made Exelon the sole owner of the Clinton , Oyster Creek and Three Mile Island nuclear power plants . On January 8, 2009, Exelon announced that AmerGen's nuclear power plants would be transferred to Exelon Nuclear and that AmerGen would be liquidated. In December 2008, the Nuclear Regulatory Commission NRC approved the transfer of the operating licenses for the nuclear power plants.

Constellation

Constellation Energy and Électricité de France (EDF) founded the joint venture UniStar Nuclear Energy in 2007 to build up to 4 new nuclear power plants in the USA. In 2009, EDF acquired a 49.99% stake in Constellation Energy Nuclear Group (CENG), Constellation's nuclear power subsidiary, for $ 4.5 billion. In April 2011, Exelon announced that it would acquire Constellation for $ 7.9 billion. According to Constellation, the acquisition was completed in March 2012. In July 2013, Exelon and EDF announced that EDF had an option to sell its stake in CENG to Exelon between January 2016 and June 2022 at a fair market price . Furthermore, an application would be made to the NRC to transfer the operating licenses for the Calvert Cliffs , Nine Mile Point and RE Ginna nuclear power plants from CENG to Exelon. The NRC approved the transfer of operating licenses in March 2014.

Others

The merger between Exelon and Public Service Electric and Gas Company from New Jersey , which began on June 30, 2005, failed. Pepco Holdings was acquired in March 2016 for $ 6.8 billion.

Subsidiaries

According to its own information, Exelon u. a. the following subsidiaries (as of August 2016):

Nuclear power plants

According to WSJ , Exelon became the largest operator of nuclear power plants in the United States in the 1990s. The Exelon Generation Company, LLC owns or operates in the US the following nuclear power plants (as of September 2019):

Name of the power plant block Inst. Power (MW) Network synchronization Operating license up to Shutdown
Braidwood 1 1,240 07/12/1987 10/17/2046
2 1,213 May 25, 1988 12/18/2047
Byron 1 1,225 03/01/1985 10/31/2044
2 1,196 02/06/1987 11/06/2046
Calvert Cliffs 1 918 03/01/1975 07/31/2034
2 911 December 07, 1976 08/13/2036
Clinton 1 1,098 04/24/1987 10/29/2026
Dresden 1 913 04/13/1970 10/22/2029
2 913 07/22/1971 01/12/2031
Lasalle 1 1,177 09/04/1982 04/17/2022
2 1,179 04/20/1984 12/16/2023
limerick 1 1,194 April 13, 1985 10/26/2044
2 1,194 09/01/1989 06/22/2049
Nine Mile Point 1 642 11/09/1969 08/22/2029
2 1,205 08/08/1987 10/31/2046
Peach bottom 1 1,171 02/18/1974 08/08/2033
2 1,171 09/01/1974 07/02/2034
Quad Cities 1 912 04/12/1972 12/14/2032
2 912 05/23/1972 12/14/2032
RE Ginna 1 608 12/02/1969 09/18/2029
Salem 1 1,228 December 25, 1976 08/13/2036
2 1,170 06/03/1981 04/18/2040

Remarks

  1. ↑ Salem is owned and operated by PSEG (57%) and Exelon (43%).

Operating license

In the USA, the Nuclear Regulatory Commission grants an operating license for a nuclear power plant for a period of up to 40 years. The 40 year period was originally based on the fixed asset depreciation period . The Atomic Energy Act of 1954 allows the operating license to be extended (even several times) by 20 years at a time.

economics

According to a report by the Chicago Tribune , Exelon's 6 nuclear power plants in the state of Illinois have suffered losses for years. The reason for this is that wholesale electricity prices have fallen to a 15-year low. In the case of the Clinton nuclear power plant, the wholesale price fell from USD 42 per MWh in 2008 to only USD 22 in 2009. However, the prime costs of Clinton would be an estimated 45 to 55 USD per MWh. In 2013 there were also negative electricity prices at times: in the case of Clinton, these averaged USD 53 per MWh.

On June 2, 2016, Exelon announced that the Clinton and Quad Cities nuclear power plants would be decommissioned on June 1, 2017 and June 1, 2018, respectively, as they had a combined loss of $ 800 million over the past 7 years. However, the shutdown plans were withdrawn after Illinois Governor Bruce Rauner signed Senate Bill 2814 in December 2016 . The power plants are now to remain in operation for another 10 years. Exelon will receive US $ 235 million annually in grants to offset losses from operating the Clinton and Quad Cities nuclear power plants. According to Forbes , Illinois will subsidize electricity from the two nuclear power plants with 1 US cent per kWh in the future . The subsidies for electricity from wind power in Illinois were 2.3 US cents and for solar systems 21 US cents per kWh.

Web links

Individual evidence

  1. ↑ a b 2014 Form 10-K Report , on www.phx.corporate-ir.net  ( page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. , accessed October 4, 2015@1@ 2Template: Dead Link / phx.corporate-ir.net  
  2. ↑ a b About Exelon. Exelon, accessed August 25, 2016 .
  3. ^ Exelon Annual Income Statement (NYSE: EXC). amigobulls.com, accessed on August 27, 2016 .
  4. ↑ BE bailed out, sells stake in AmerGen. www.neimagazine.com, October 1, 2003, accessed August 21, 2016 .
  5. ↑ Exelon Generation Formally Integrates AmerGen Assets Into Exelon Nuclear. Exelon, January 8, 2009, accessed August 25, 2016 .
  6. ↑ EDF to Buy $ 249 Million Constellation Nuclear Stake. Bloomberg , October 27, 2010, accessed August 25, 2016 .
  7. ^ EDF Writing 'Last Chapter' on Nuclear in US, Piquemal Says. Bloomberg, July 30, 2013, accessed August 25, 2016 .
  8. ↑ Exelon to buy Constellation Energy for $ 7.9 billion. Reuters , April 28, 2011, accessed August 21, 2016 .
  9. ↑ Exelon-Constellation Merger Closes, Creating Nation's No. 1 Competitive Energy Provider. Constellation Energy , March 12, 2012, accessed August 21, 2016 .
  10. ↑ EDF withdraws from nuclear energy in the USA.  ( Page no longer available , search in web archives )  Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. In: industriemagazin.net , July 30, 2013, accessed on August 3, 2013.@1@ 2Template: Dead Link / www.industriemagazin.net  
  11. ^ EDF dividend from US consolidation. www.world-nuclear-news.org (WNN), June 30, 2013, accessed on August 21, 2016 (English).
  12. ↑ CENG'S Five Reactors Officially Join Exelon's Nuclear Fleet. Exelon, March 31, 2014, accessed August 27, 2016 .
  13. ↑ US NRC okays 5 reactor license transfers from Constellation to Exelon. Reuters, April 1, 2016, accessed August 25, 2016 .
  14. ↑ NRC Approves Transfer of Five Nuclear Power Reactor Operating Licenses from Constellation to Exelon. (PDF 131 KB) NRC, accessed on August 25, 2016 (English).
  15. ↑ Archive link ( Memento of the original dated December 24, 2007 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.pseg.com
  16. ^ Pepco, Exelon close deal after getting final approval. Reuters, March 23, 2016, accessed on August 21, 2016 .
  17. ↑ Exelon and Pepco complete merger. WNN, March 24, 2016, accessed on August 21, 2016 .
  18. ^ A b Exelon Moves to Close Two Illinois Nuclear Plants. The Wall Street Journal , June 2, 2016, accessed August 18, 2016 .
  19. ↑ Our Locations - Nuclear Power Plants. Exelon, accessed August 18, 2016 .
  20. ^ Operating Nuclear Power Reactors (by location or name). Nuclear Regulatory Commission (NRC), accessed August 18, 2016 .
  21. ↑ License renewals. Exelon, accessed August 18, 2016 .
  22. ^ Backgrounder on Reactor License Renewal. NRC, accessed August 18, 2016 .
  23. ^ Subsequent License Renewal Background. NRC, accessed August 18, 2016 .
  24. ^ A b As Exelon threatens to shut nuclear plants, Illinois town fears fallout. Chicago Tribune , March 9, 2014, accessed August 18, 2016 .
  25. ↑ Exelon Shutting Two Nuclear Plants After Legislation Fails. Bloomberg , June 2, 2016, accessed August 18, 2016 .
  26. ^ Rauner signs Future Energy Jobs bill. Quad-City Times, December 7, 2016, accessed November 20, 2017 .
  27. ↑ Top Stories 2016: Last-minute deal saves Clinton nuclear plant. www.wjbc.com, December 29, 2016, accessed November 20, 2017 (English).
  28. ^ Illinois Sees The Light - Retains Nuclear Power. Forbes , December 4, 2016, accessed November 20, 2017 .