Atlantic City Electric’s Parent Exelon Completes Spin-off of Power Generation Business | Business


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For Exelon’s retail utility customers, little change is in store. Business phone numbers and address will remain the same. Invoices will still be due monthly. Exelon owns Atlantic City Electric in New Jersey, Delmarva Power in Delaware, Baltimore Gas and Electric, Pepco in Washington, DC, Comed in Chicago, in addition to Peco, which has 1.6 million electric customers and 540,000 gas customers. in the Philadelphia area.

Utility logos on their buildings, vehicles and correspondence will change as part of a rebranding of Exelon to visually separate it from the power generation business. Constellation Energy will inherit the blue, red and green flag logo once shared between Exelon properties.

“While Peco’s appearance will change over time, we want to make sure our customers know that we are committed to being the trusted energy partner they have known for years and that our dedication to the communities we serve does not will only get stronger,” Mike Innocenzo, Peco’s president and CEO, said in a statement.

Exelon described the separation as a strategic decision aimed at increasing shareholder value. Exelon employs about 18,000 people and Constellation Energy has about 13,000, mostly in power generation.

“Today marks a significant milestone in the history of Exelon,” said Christopher M. Crane, president and chief executive officer of Exelon, in a statement. “With the success of our separation, we are moving forward in a position of strength to meet customer needs, drive growth and social equity in the communities we serve, and deliver lasting value as our industry continues to evolve. .”

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