Exelon says its third-quarter net income rose 12 percent as stifling summer heat led more people to crank up their air conditioners. The company is also raising its forecast for the year. The Chicago utility company said Friday it earned $845 million, or $1.27 per share, compared with $757 million, or $1.14 per share a year earlier. Get the full story »
Exelon
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ComEd petitions ICC to keep smart grid pilot alive
In light of a court ruling this month that placed funding for Commonwealth Edison’s smart grid pilot project in jeopardy, the utility is petitioning the Illinois Commerce Commission to wrap an additional $11 million into its $396 million rate-increase case.
The utility asked the commission to decide by the end of the month whether it will hear that request as part of a proposed 7 percent rate hike — a sign of good faith that would allow the utility to finish the project with the expectation that there would be some way for them to recoup the costs at a later day.
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Exelon plans debt sale to buy Deere unit
Exelon Corp., the largest U.S. producer of nuclear power, plans to sell $900 million of 10- and 31-year debt to fund its purchase of a Deere & Co. wind-power unit.
The bonds may be issued as soon as today through Exelon Generation Co. according to a person familiar with the transaction. John Deere Renewables will cost $860 million with an additional $40 million if Deere starts constructing three projects in Michigan, Exelon said today in a regulatory filing that didn’t specify the debt offering’s size or timing. Get the full story »
Exelon Braidwood reactor back online
Braidwood Station Unit 1 returned to service this morning at 5:43 a.m., when operators connected the plant’s turbine generator to the regional power grid. Get the full story »
Exelon plant shutdown won’t affect customers
Exelon Corp. shut down a nuclear power plant in Braidwood, Ill. about 60 miles southwest of Chicago Monday evening when the unit’s “turbine tripped offline,” the company said today.
The Braidwood Unit 1 shutdown will “not have an impact on Exelon customers,” the company said. The automatic shutdown, which happened at 5:04 p.m. Monday, remains under investigation. Get the full story »
Exelon to remove tritium-tainted water from plant
The owners of Oyster Creek nuclear power plant say they’ll begin pumping water contaminated by radioactive tritium out of the ground to prevent any possible contamination of drinking water supplies.
Exelon Corp. and the New Jersey Department of Environmental Protection announced the plan after a meeting Monday in Trenton. The work is to begin this week.
ComEd seeks homes for solar panel test
ComEd said will letters go out this week to single family homeowners in the innovation corridor along I-290 – which includes 130,000 customers in Melrose Park, Bellwood, Maywood, River Forest, Oak Park, Forest Park, Broadview, Hillside, Berwyn and the Humboldt Park section of Chicago – asking for single-family homeowners to test solar panels.
The three-year photovoltaic pilot is partially funded by a $5 million U.S. Department of Energy grant and allows ComEd to install 100 solar arrays on residential homes in the corridor. The arrays produce enough electricity to power a small home and at the end of the pilot, the homeowners keep the panels, said Maryl Freestone, senior engineer and project manager for the PV pilot. Get the full story »
Deere selling windpower unit to Exelon
Deere & Co. will sell its wind energy business to a subsidiary of Exelon Corp. for $900 million, the company said Tuesday, potentially signaling an active merger and acquisition period ahead for the power industry. Get the full story »
Exelon begins $4.6B in Illinois projects
Exelon Corp. announced a “massive spending program” Monday that will invest $4.6 billion in Illinois nuclear projects, beginning with the 10-year decommissioning of Zion Nuclear Power Station in September.
The investment is well above the company’s usual expenditures for refueling operations. Get the full story »
Braidwood back up after last week’s shutdowns
Braidwood Nuclear Power Plant is back online following dual reactor shutdowns that lasted nearly a week.
According to the plant’s owner, Exelon Generating Company, Unit 1 was placed back in service early Saturday, while Unit 2 returned to service Sunday evening. The company said an inspection into the causes of the two shutdowns found that Unit 1 shut down after water came in contact with an electrical bus and caused the system to de-energize. The company attributed the shutdown of Unit 2 to a main generator fault caused by an electrical ground in the unit’s electrical bus. Get the full story »
NRC sends special inspection team to Braidwood
The Nuclear Regulatory Commission said Wednesday that a special inspection team has been sent to the Braidwood Nuclear Power Plant to review the circumstances surrounding dual reactor shutdowns that occurred on Aug. 16.
The reactors at the Exelon Generating Company LLC-owned plant have remained shut down since the incidents occurred at the plant, which is located in Braceville, Ill., 20 miles southwest of Joliet.
“The purpose of the special inspection is to better understand the sequence of both reactor events and the apparent unexpected system interactions,” NRC Region III Administrator Mark Satorius said in a statement. Get the full story »
Exelon probing shutdown of Braidwood reactors
Exelon Corp. is investigating the cause of shutdowns this morning of two nuclear reactors at Braidwood Generating Station.
The Unit 2 turbine tripped off line at 2:06 a.m., followed 13 minutes later by a shutdown of the Unit 1 reactor. Get the full story »
Exelon unit pursues Saudi nuclear deal
From Bloomberg Businessweek | Shaw Group Inc., Toshiba Corp. and Exelon Nuclear Partners, a unit of Exelon Corp., will team up to pursue nuclear power contracts in Saudi Arabia as the kingdom invests to meet energy demand.
Exelon executive retires, management shifted
Exelon Corp. said Thursday that it has made several management changes, including the retirement of a key executive. Ian P. McLean, the 60-year old executive vice president of Exelon and CEO of Exelon Transmission Co., is retiring as of July 15. The company also said Darryl M. Bradford has been named senior vice president and general counsel for Exelon Corp. Bradford previously served in several leadership positions at Exelon subsidiary ComEd.
CUB wary of ComEd 7% rate-hike request
Commonwealth Edison is seeking an electricity rate hike of about 7 percent, a move quickly met with skepticism from consumer advocates.
ComEd’s proposal, filed Wednesday with the Illinois Commerce Commission would add less than $6 per month to the average residential monthly bill of $86, the company said in a statement. Any approved new rates would not take effect until June 2011. The utility said it would use the money to modernize its grid by investing in technology that reduces the duration and number of power outages. The rate hike would also “recover the cost of substantial investments made since the last rate filing in 2007,” the company said. Get the full story »
