Exelon: Wikis

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Exelon Corporation
Type Public (NYSEEXC)
Founded Merger of PECO Energy and Unicom in October (2000)
Headquarters Chicago, Illinois, USA
Key people John W. Rowe, CEO, Chairman, & President
Industry Electric Utility
Products Electricity, Natural Gas
Revenue US$18.9 Billion (FY 2008)[1]
Operating income US$5.30 Billion (FY 2008)[1]
Net income US$2.74 Billion (FY 2008)[1]
Total assets US$47.8 Billion (FY 2008) [2]
Total equity US$11.0 Billion (FY 2008)[2]
Employees 17,200 (2007)
Website exeloncorp.com
Chase Tower, the location of the headquarters of Exelon

Exelon Corporation (NYSEEXC) is an electricity generating and distributing company headquartered in the Chase Tower in the Chicago Loop area of Chicago.[3] It was created in October, 2000 by the merger of PECO Energy Company and Unicom, of Philadelphia and Chicago respectively. Unicom owned Commonwealth Edison. Exelon has 5.2 million electricity customers and, in the Philadelphia suburbs, 460,000 natural gas customers.

In June, 2005 Exelon had full or majority ownership of 19 nuclear reactors in 11 nuclear power plants.

On June 30, 2005 the Federal Energy Regulatory Commission approved the merger of Exelon and Public Service Enterprise Group Inc., a New Jersey utility. Under this merger, Exelon would have become the largest utility in the United States.[4] The two companies later broke off the agreement[5] due to pressure put on the NJ Board of Public Utilities by public interest groups, including New Jersey Citizen Action.[6] The merger sat pending in front of the NJBPU for nineteen months before Exelon concluded that they were fighting a losing battle.[5]

Contents

Political activity

Exelon's Political Action Committee (PAC) is EXELONPAC.[7]

Exelon facilities

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Nuclear generation

Exelon is a leading nuclear power plant operator in the United States.

Other generation

Hydro

Fossil Fuel

Numerous sites in:

Renewable

  • Fairless Hills Generating Station (Pennsylvania) (landfill gas)
  • Mill Run Wind Farm (Pennsylvania)
  • Mountaineer Wind Energy Center (West Virginia)
  • Somerset Wind Farm (Pennsylvania)
  • Waymart Wind Energy Center (Pennsylvania)

Exelon does not own the wind farms, but has an agreement for their entire output.

Other Business Units

  • Exelon PowerLabs, LLC

Exelon PowerLabs, LLC (a wholly owned subsidiary of Exelon Generation) operates at 4 locations nationwide. The Plattsburgh, NY and Madison, PA facilities specialize in Calibration; the Wilmington, IL facility specializes in Failure Analysis and Component Testing; while the Coatesville, PA location provides all services. The Quality System is ISO 9001:2000 Registered for both the Plattsburgh, NY and Coatesville, PA facilities. The Coatesville and Plattsburgh facilities are also ISO 17025 accredited through the American Association for Laboratory Accreditation (A2LA).

Operating since 1911, Exelon PowerLabs is recognized for its quality, technical expertise, and dedication to client satisfaction. With an extensive investment in laboratory test equipment, the labs annually disposition over 70,000 calibrations, perform over 300 failure investigations, and test over 900 components and products. They have evaluated or tested over 3,000 different components, products, and equipment.

Controversy

In 2005, Exelon was required to pay a $602,000 fine for exceeding the permitted sulfur dioxide emission limit from April to October 2004 at its Cromby Generating Station in Chester County, Pennsylvania.[8]

Exelon and Illinois state officials waited for four years until 2006 before disclosing that Exelon's Braidwood Nuclear Generating Station, a nuclear plant 60 miles southeast of Chicago, had spilled millions of gallons of water containing tritium, a radioactive form of hydrogen, multiple times over a decade. Exelon officials eventually apologized and said the risks from the leak were “minimal”, with tritium levels in surrounding wells all found to be below regulatory limits. [9]

In 2009, the Nuclear Regulatory Commission announced its plan for a $65,000 fine against Exelon for permitting its contracted security guards that were guarding its Peach Bottom Nuclear Generating Station, a two-reactor nuclear plant located in Delta, Pennsylvania to sleep on the job. The incidents did not come to light until a videotape of the security guards was leaked to news media. [10] As a result, Exelon terminated the security contract of the Wackenhut security firm that had been involved.

External links

References

  1. ^ a b c Exelon Energy Corp (EXC) annual SEC income statement filing via Wikinvest
  2. ^ a b Exelon Energy Corp (EXC) annual SEC balance sheet filing via Wikinvest
  3. ^ "Contact Us." Exelon. Retrieved on December 5, 2009.
  4. ^ http://www.msnbc.msn.com/id/8419580
  5. ^ a b Press Releases
  6. ^ NJCA in the News
  7. ^ Exelon Corp | OpenSecrets
  8. ^ AmeriScan: June 30, 2005
  9. ^ RedOrbit.com, Exelon admits its fault
  10. ^ Nuclear Regulatory Commission news release

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