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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Exelon Corporation    EXC

EXELON CORPORATION

(EXC)
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Exelon : New Program Offers ComEd Customers Additional Bill Assistance During Pandemic

11/09/2020 | 03:28pm EST

Helping Hand program provides expedited, one-time grants of up to $300 per residential customer to help with past-due balances

To provide immediate aid to eligible customers most in need during the ongoing COVID-19 pandemic, ComEd announces a new program, Helping Hand. For a limited time, this financial-assistance program provides an additional one-time grant of up to $300 to help low- income residential customers, and those who express financial hardship, reduce past-due balances.

“As the number of COVID-19 cases increases throughout northern Illinois, we understand that the pandemic continues to create significant financial hardship for many of our customers,” said ComEd CEO Joe Dominguez. “That’s why we continue to evaluate and find new ways – like our new Helping Hand program – to support customers and communities most in need.”

Assistance through the Helping Hand program will be administered directly through ComEd, which expedites the verification process so that customers can receive grants more quickly. Residential customers can apply for Helping Hand grants at ComEd.com/PaymentAssistance.

Helping Hand is the latest in a number of assistance options ComEd has developed since the pandemic to help customers, including a $18 million bill-payment assistance program announced earlier this summer.

ComEd has continued the suspension of service disconnections for low-income customers and those who express a financial hardship through March 31, 2021. For other customers, it’s important that they continue to stay current to avoid higher past-due balances into the spring that will be harder to address.

ComEd’s bill-assistance programs also include flexible payment options, financial assistance for past-due balances and usage alerts for current bills. Any customer who is experiencing a hardship or difficulty with their electric bill should call ComEd immediately at 1-800-334-7661 (1-800-EDISON-1), Monday through Friday from 7 a.m. to 7 p.m. to learn more and enroll in a program.

ComEd worked with the Illinois Attorney General’s office, the staff of the Illinois Commerce Commission and a broad group of stakeholders in June to offer the following customer-assistance options that are available for a limited time:

  • Bill Assistance for Eligible Low-Income Customers. To help LIHEAP-qualified customers with past-due balances, ComEd will provide additional bill assistance – up to $500 – for eligible, low-income households earning 200 percent or less of the federal poverty level. For information or to apply for LIHEAP, visit HelpIllinoisFamilies.com.
  • More Flexible Payment Arrangements. Under the comprehensive support package, ComEd offers eligible residential customers payment plans of up to 18 installment payments with a 25-percent down payment. Limited-income residential customers and those facing financial hardship can spread amounts they owe over 24 installment payments with no down payment.

These customer assistance options supplement the extensive relief that ComEd already offers customers in need, including:

  • Flexible Payment Options. These include budget billing, which averages payments over a 12-month period to help customers manage their monthly energy bills.
  • CARE Financial Assistance Grants. For customers who struggle to cover energy expenses, ComEd offers a wide range of financial assistance programs.

ComEd also offers usage alerts and energy-management tips to help customers manage energy use to save money now and on future energy bills. For more information, visit ComEd.com/OnlineTools.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 100 energy company with approximately 10 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state’s population. For more information visit ComEd.com and connect with the company on Facebook, Twitter, Instagram and YouTube.


© Business Wire 2020
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Financials (USD)
Sales 2020 31 354 M - -
Net income 2020 2 743 M - -
Net Debt 2020 37 835 M - -
P/E ratio 2020 13,6x
Yield 2020 3,59%
Capitalization 41 501 M 41 501 M -
EV / Sales 2020 2,53x
EV / Sales 2021 2,67x
Nbr of Employees 32 713
Free-Float 99,5%
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 47,78 $
Last Close Price 42,54 $
Spread / Highest target 31,6%
Spread / Average Target 12,3%
Spread / Lowest Target -20,1%
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Managers and Directors
NameTitle
Christopher M. Crane President, Chief Executive Officer & Director
Mayo A. Shattuck Chairman
Bridget M. Reidy Executive Vice President-Corporate Operations
Joseph Nigro Chief Financial Officer & Senior Executive VP
Michael R. Koehler Chief Information & Digital Officer, Senior VP
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