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MarketScreener Homepage  >  Equities  >  Nyse  >  Exelon Corporation    EXC

EXELON CORPORATION

(EXC)
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Exelon : BGE, Delmarva Power and Pepco Commend Maryland Public Service Commission Decision to Advance Multi-Year Rate Planning

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08/14/2019 | 10:51am EDT

Baltimore, MD and Washington, DC - The Maryland Public Service Commission (PSC) has taken important steps toward modernizing utility ratemaking in the state. The PSC has issued an order directing the formation of a working group of interested parties charged with developing and submitting a detailed report on how to implement a multi-year rate plan based on a historic test year and up to three future test years, allowing customers to have more insight into their utility rates.

"We have advocated for increased transparency and predictability in the ratemaking process to enhance service for our customers and allow for better alignment of utility investments and state energy policies," said Dave Velazquez, president and CEO of Pepco Holdings, which includes Delmarva Power and Pepco. "We are pleased the Commission is driving this process forward and we look forward to participating in the working group focusing on implementation of this modern form of ratemaking for our customers."

"Not only will this decision by the Commission enable us to better invest in innovative programs and services for our customers, it also is a major step forward in the efforts to advance the modernization of the energy grid making way for the technologies that will help meet the growing clean energy goals in the state," said Calvin Butler, CEO of Baltimore Gas and Electric. "We look forward to participating in the working group and in ensuring our customers have more line of sight to the value they are receiving for their natural gas and electric service as a BGE customer."

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BGE, founded in 1816 as the nation's first gas utility and headquartered in Baltimore, is Maryland's largest natural gas and electric utility. The company's approximately 3,200 employees are committed to safe and reliable energy delivery to more than 1.25 million electric customers and more than 650,000 natural gas customers in central Maryland. In the J.D. Power 2017 and 2018 Electric Utility Business Customer Satisfaction Study SM BGE was ranked Highest in Customer Satisfaction with Business Electric Service in the East among Large Utilities. In addition, in the J.D. Power 2018 Gas Utility Business Customer Satisfaction Study SM BGE received Best in Customer Satisfaction with Business Natural Gas Service in the East. BGE is a subsidiary of Exelon Corporation (NYSE: EXC), the nation's leading competitive energy provider. Connect with BGE on Facebook, Twitter, Instagram, YouTube, Flickr, and engage with the latest BGE stories on bgenow.com.

Baltimore Gas and Electric Company (or "BGE") received the highest score in the East Large segment of the 2018 Electric Utility Business Customer Satisfaction Study and the East Region of the 2018 Gas Utility Business Customer Satisfaction Study of electric and gas utility customer satisfaction among business customers. Visit jdpower.com/awards.

Pepco Holdings, a unit of Exelon Corporation (NYSE: EXC), the nation's leading energy provider, oversees the operation of Atlantic City Electric, Delmarva Power and Pepco. The companies provide safe and reliable energy service to approximately 2.1 million customers in Maryland, the District of Columbia, Delaware and New Jersey.

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(C) 2019 M2 COMMUNICATIONS, source M2 PressWIRE

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Financials (USD)
Sales 2019 32 340 M
EBIT 2019 5 171 M
Net income 2019 3 040 M
Debt 2019 34 813 M
Yield 2019 3,21%
P/E ratio 2019 14,4x
P/E ratio 2020 15,1x
EV / Sales2019 2,43x
EV / Sales2020 2,47x
Capitalization 43 848 M
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Number of Analysts 21
Average target price 51,55  $
Last Close Price 45,13  $
Spread / Highest target 24,1%
Spread / Average Target 14,2%
Spread / Lowest Target -4,72%
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Christopher M. Crane President, Chief Executive Officer & Director
Mayo A. Shattuck Independent Chairman
Bridget M. Reidy Executive Vice President-Corporate Operations
Joseph Nigro Chief Financial Officer & Senior Executive VP
Michael R. Koehler Senior VP, Chief Information & Digital Officer
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