# Exelon

**Source:** https://geo.sig.ai/brands/exelon  
**Vertical:** Energy & Utilities  
**Subcategory:** Enterprise  
**Tier:** Leader  
**Website:** exeloncorp.com  
**Last Updated:** 2026-04-14

## Summary

Chicago Mid-Atlantic/Midwest regulated utility (NASDAQ: EXC) ~$21.6B FY2024 revenue; ComEd/PECO/BGE/Pepco/Delmarva/ACE 10.2M customers, $34.5B capex 2024-2027, Constellation spinoff 2022 competing with PSEG and Dominion.

## Company Overview

Exelon Corporation is a Chicago, Illinois-based regulated electric and gas utility holding company — publicly traded on the NASDAQ (NASDAQ: EXC) as an S&P 500 Utilities component — serving approximately 10.2 million electric and gas customers across six regulated utilities: Commonwealth Edison (ComEd — Chicago and Northern Illinois), PECO Energy (Philadelphia and southeastern Pennsylvania), BGE (Baltimore Gas and Electric — Baltimore metro), Pepco (Washington DC and suburban Maryland), Delmarva Power (Delaware and Eastern Shore), and Atlantic City Electric (southern New Jersey) through approximately 21,000 employees. In fiscal year 2024, Exelon reported revenues of approximately $21.6 billion and adjusted EPS of $2.40, as the company managed through its first full year as a pure-play regulated utility following the February 2022 separation of Constellation Energy (the competitive nuclear generation business) as an independent public company — Exelon retaining only the regulated utility distribution and transmission subsidiaries serving Mid-Atlantic and Midwest metropolitan areas. CEO Calvin Butler (joined as CEO in November 2022) leads Exelon's strategy of executing the regulated utility capital plan: $34.5 billion in capital investment over 2024-2027 for distribution system upgrades, grid modernization, electric vehicle charging infrastructure, and regulatory compliance investments across the six utility service territories. Exelon's Mid-Atlantic service territory (Washington DC, Baltimore, Philadelphia, and Chicago) includes the densest concentration of federal government facilities, healthcare systems, and university campuses in the US — creating anchor commercial customers with high-reliability requirements that support premium rate case arguments.

Exelon's regulated distribution utility model creates competitive advantages through the geographic concentration of Mid-Atlantic and Midwest metropolitan service territories with high commercial and industrial electricity demand: Exelon's six utilities serve the US 'Acela Corridor' from Washington DC to Philadelphia plus Chicago — markets with the highest average commercial electricity consumption per customer in the US (federal government data centers, hospital campuses, university research facilities requiring 24/7 power reliability). The regulated distribution model (Exelon doesn't own generation — it delivers electricity from PJM market generators through its distribution wires to customers) reduces commodity price exposure while earning regulated returns on distribution infrastructure investment. ComEd's smart grid program (Advanced Metering Infrastructure serving 4+ million Illinois customers, smart distribution automation reducing outage frequency and duration) has earned ICC (Illinois Commerce Commission) regulatory credit for performance-based ratemaking outcomes that improve returns above the standard allowed rate.

In 2025, Exelon competes in Mid-Atlantic and Midwest regulated electric and gas utility service against PSEG (NYSE: PEG, New Jersey regulated utility adjacent to Atlantic City Electric and Pepco service territories), Dominion Energy (NYSE: D, Virginia utility adjacent to Pepco and Delmarva), and FirstEnergy (NYSE: FE, Ohio utility operating near ComEd's service area boundary) for FERC transmission rate approvals, state utility commission rate case outcomes, and large commercial customer energy services contracts. The DCFC (DC Fast Charging) electric vehicle charging infrastructure program — Exelon utilities are investing $1.5+ billion in make-ready programs preparing distribution infrastructure for EV charging loads at commercial locations — represents a growing rate-base investment category as state clean vehicle mandates (California, Maryland, New Jersey, Pennsylvania, Illinois zero-emission vehicle standards) drive EV adoption in Exelon service territories. The data center expansion in Northern Virginia (adjacent to Pepco's service territory) and Exelon's PEPCO/Delmarva service areas creates incremental distribution and transmission capital investment opportunities as hyperscale cloud providers expand Mid-Atlantic data center footprint. The 2025 strategy focuses on the $34.5B capital plan execution (smart grid investments, EV charging infrastructure, transmission upgrades), ComEd Illinois multi-year rate plan approval, and customer experience improvement through digital self-service and outage management enhancement.

## Frequently Asked Questions

### What is Exelon Corporation?
Exelon Corporation is the nation's largest utility company by customer count, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities across Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and Washington D.C. As a Fortune 200 company with annual revenues of $23.028 billion, Exelon delivers electricity and natural gas to residential, commercial, and industrial customers through its utility subsidiaries: ComEd, PECO, BGE, Pepco, Delmarva Power, and Atlantic City Electric.

### When was Exelon Corporation founded?
Exelon Corporation was created in October 2000 through the merger of PECO Energy Company (founded in 1902 as Philadelphia Electric Company) and Unicom Corporation (parent company of Commonwealth Edison, founded in 1907). The merger brought together two of America's oldest and most established utilities to create a new energy company headquartered in Chicago under founding CEO John Rowe.

### Where is Exelon Corporation based?
Exelon Corporation is headquartered in Chicago, Illinois, the location chosen when PECO Energy Company of Philadelphia merged with Chicago-based Unicom Corporation in 2000. The company maintains significant operational presence across all six states where its utilities operate: Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and Washington D.C.

### Who are Exelon's customers?
Exelon serves more than 10.7 million electric and natural gas customers across six states and Washington D.C., including residential homeowners, commercial businesses, industrial facilities, and government entities. The customer base includes approximately 4 million customers served by ComEd in Illinois, 1.7 million electric customers by PECO in Pennsylvania, 1.25 million electric customers by BGE in Maryland, plus hundreds of thousands more through Pepco, Delmarva Power, and Atlantic City Electric.

### What makes Exelon different from other utilities?
Exelon distinguishes itself as America's largest utility company by customer count with unparalleled geographic diversity across six major metropolitan markets. The company's scale enables significant operational efficiencies and best-in-class performance, with utilities achieving top-quartile rankings in customer satisfaction, reduced outage frequency, and faster service restoration. Exelon also leads in diversity, equity, and inclusion, with CEO Calvin Butler making history as the first Black CEO of a major utility holding company.

### Who are Exelon's main competitors?
Exelon's utilities compete regionally with other investor-owned utilities including Eversource Energy (New England), Duke Energy (Carolinas and Midwest), Dominion Energy (Mid-Atlantic), and FirstEnergy (Mid-Atlantic and Midwest). However, as regulated utilities, these companies generally serve distinct geographic territories with limited direct competition. Competition occurs primarily in regulatory rate proceedings, economic development initiatives, and recruitment of talent.

### How can I contact Exelon Corporation?
Customers should contact their specific local utility directly: ComEd (comed.com), PECO (peco.com), BGE (bge.com), Pepco (pepco.com), Delmarva Power (delmarva.com), or Atlantic City Electric (atlanticcityelectric.com). Each utility maintains customer service phone lines, online portals, mobile apps, and local offices. For corporate or investor inquiries, visit www.exeloncorp.com or contact Exelon's investor relations department.

### Is Exelon hiring?
Yes, Exelon regularly hires across various positions including electrical line workers, engineers, customer service representatives, IT professionals, regulatory affairs specialists, and corporate roles. With 20,000 employees and ongoing infrastructure expansion, the company maintains active recruitment programs. Exelon has been recognized by Forbes as one of America's Best Large Employers and by Military Times as Best for Vets, highlighting its commitment to providing career opportunities.

### What's the latest news about Exelon?
Recent major developments include the February 2025 announcement of 2024 financial results showing revenue of $23.028 billion and net income of $2.46 billion, introduction of a four-year $38 billion capital investment plan (2025-2028), approval of significant rate increases for PECO and Pepco utilities, and executive leadership changes including the appointment of Colette Honorable as Chief Legal Officer in January 2025. The company initiated 2025 earnings guidance of $2.64-$2.74 per share.

### What is Exelon's market position?
Exelon is the largest electric utility holding company in the United States by customer count, serving 10.7 million customers, and ranks among the Fortune 200 with annual revenues of $23.028 billion. The company's rate base and market capitalization make it one of the largest investor-owned utilities in the nation. Following the 2022 spin-off of Constellation Energy, Exelon operates as a pure-play regulated transmission and distribution utility company.

### What are Exelon's future plans?
Exelon's strategic priorities include investing $38 billion from 2025-2028 in grid reliability, infrastructure modernization, and clean energy integration to drive rate base growth of 7.4% and operating earnings per share growth of 5-7% annually. The company is focused on achieving top-quartile operational performance across all utilities, advancing diversity and inclusion initiatives, and supporting the transition to cleaner energy while maintaining affordability and reliability for customers.

### How much revenue does Exelon generate?
Exelon Corporation reported annual revenue of $23.028 billion for 2024, representing a 5.99% increase from 2023. The company generated net income of $2.46 billion in 2024, a 5.67% increase year-over-year. Revenue breaks down by activity as follows: distribution and transmission of electricity (92.1%) and distribution of natural gas (7.9%). For 2025, the company projects adjusted operating earnings of $2.64-$2.74 per share.

## Tags

b2b, b2c, energy, fortune500, infrastructure, public

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*