Utilities
Utilities - Regulated Electric
$36.74B
20K
Exelon Corporation is a utility services holding company focused on energy transmission and distribution. The company operates through subsidiaries like ComEd, PECO, and BGE, delivering electricity and natural gas to retail customers across multiple states. Exelon's competitive advantages lie in its scale, expertise, and commitment to reliability and customer service in the regulated utility sector.
Key insights and themes extracted from this filing
The 10-K filing states that net income attributable to common shareholders increased by $132 million, from $2,328 million in 2023 to $2,460 million in 2024. This indicates a positive trend in overall profitability.
The 10-K filing states that operating revenues increased by $1901 million, from $21,727 million in 2023 to $23,028 million in 2024. This indicates a positive trend in the company's ability to generate revenue.
The 10-K filing states that interest expense increased by $185 million, from $1,704 million in 2023 to $1,889 million in 2024. This indicates a negative trend in the company's ability to manage its debt obligations.
The 10-K filing states that the Utility Registrants anticipate investing approximately $38 billion over the next four years in electric and natural gas infrastructure improvements and modernization projects. This indicates a positive trend in the company's commitment to growth and modernization.
The 10-K filing states that the Utility Registrants anticipate an increase to current rate base of approximately $20 billion by the end of 2028. This indicates a positive trend in the company's commitment to growth and modernization.
The 10-K filing states that Exelon announced its Path to Clean goal to collectively reduce its operations-driven GHG emissions 50% by 2030 against a 2015 baseline and to reach net-zero operations-driven GHG emissions by 2050. This indicates a positive trend in the company's commitment to sustainability.
The 10-K filing states that Exelon's businesses remain focused on maintaining industry leading operational excellence. This indicates a positive trend in the company's commitment to operational excellence.
The 10-K filing states that as turnover is inherent, management succession planning is performed and tracked for all executives and critical key manager positions. This indicates a positive trend in the company's commitment to management succession planning.
The 10-K filing states that the Registrants typically conduct an employee engagement survey every other year to gain feedback from employees, help identify organizational strengths, and help identify areas of opportunity for growth. This indicates a positive trend in the company's commitment to employee engagement.
The 10-K filing states that the Utility Registrants as users, owners, and operators of the bulk power transmission system are subject to mandatory reliability standards promulgated by NERC and enforced by FERC. This indicates a negative trend in the company's risk profile.
The 10-K filing states that the Registrants are subject to extensive environmental regulation and legislation by local, state, and Federal authorities. This indicates a negative trend in the company's risk profile.
The 10-K filing states that risks from cybersecurity and physical threats to energy infrastructures are increasing. This indicates a negative trend in the company's risk profile.
The 10-K filing states that ComEd, Pepco, DPL and ACE customers have the choice to purchase electricity. This indicates a positive trend in the company's competitive position.
The 10-K filing states that the Utility Registrants also retain significant default service obligations to provide electricity to certain groups of customers in their respective service areas who do not choose a competitive electric generation supplier. This indicates a positive trend in the company's competitive position.
The 10-K filing states that advancements in power generation technology, including commercial and residential solar generation installations and commercial micro turbine installations, are improving the cost-effectiveness of customer self-supply of electricity. This indicates a negative trend in the company's competitive position.
The 10-K filing states that the Utility Registrants' operating costs are affected by their ability to maintain the availability and reliability of their delivery and operational systems. This indicates a positive trend in the company's operational efficiency.
The 10-K filing states that the Registrants periodically perform analyses to better understand long-term projections of climate change and how those changes in the physical environments where they operate could affect their facilities and operations. This indicates a positive trend in the company's operational efficiency.
The 10-K filing states that the Registrants rely on third-party contractors to perform operations, maintenance, and construction work. Performance standards typically are included in all contractual obligations, but poor performance may impact capital execution plans or operations, or have adverse financial, regulatory, or reputational consequences. This indicates a negative trend in the company's operational efficiency.
The 10-K filing states that the Utility Registrants invest in rate base that supports service to our customers and the community, including investments that sustain and improve reliability and resiliency and that enhance the service experience of our customers. This indicates a positive trend in the company's innovation and technology.
The 10-K filing states that advancements in power generation technology, including commercial and residential solar generation installations and commercial micro turbine installations, are improving the cost-effectiveness of customer self-supply of electricity. This indicates a negative trend in the company's innovation and technology.
The 10-K filing states that risks from cybersecurity and physical threats to energy infrastructures are increasing. This indicates a negative trend in the company's innovation and technology.
The 10-K filing states that the Utility Registrants anticipate investing approximately $38 billion over the next four years in electric and natural gas infrastructure improvements and modernization projects. This indicates a positive trend in the company's capital allocation.
The 10-K filing states that Exelon's Board of Directors approved an updated dividend policy for 2025. This indicates a positive trend in the company's capital allocation.
The 10-K filing states that the Utility Registrants' businesses are capital intensive and require significant investments, primarily in electric transmission and distribution and natural gas transportation and distribution facilities, to ensure the adequate capacity, reliability, and efficiency of their systems. This indicates a positive trend in the company's capital allocation.
The 10-K filing states that in August 2021, Exelon announced a Path to Clean goal to collectively reduce its operations-driven GHG emissions 50% by 2030 against a 2015 baseline, and to reach net-zero operations-driven GHG emissions by 2050. This indicates a positive trend in the company's commitment to sustainability.
The 10-K filing states that the Registrants support comprehensive federal climate legislation that addresses the urgent need to substantially reduce national GHG emissions while providing appropriate protections for consumers, businesses, and the economy. This indicates a positive trend in the company's commitment to sustainability.
The 10-K filing states that the Registrants are subject to comprehensive and complex environmental legislation and regulation at the federal, state, and local levels, including requirements relating to climate change, air and water quality, solid and hazardous waste, and impacts on species and habitats. This indicates a neutral trend in the company's commitment to sustainability.
The 10-K filing states that advancements in power generation technology, including commercial and residential solar generation installations and commercial micro turbine installations, are improving the cost-effectiveness of customer self-supply of electricity. This indicates a negative trend in the company's market environment.
The 10-K filing states that the Registrants periodically perform analyses to better understand long-term projections of climate change and how those changes in the physical environments where they operate could affect their facilities and operations. This indicates a negative trend in the company's market environment.
The 10-K filing states that the Utility Registrants' businesses are capital intensive and require significant investments in transmission and distribution infrastructure projects. This indicates a negative trend in the company's market environment.