Exelon to spin off utility and generation holdings into separate companies

0
Reading Time: < 1 minute

Exelon Corporation, the parent company of Delmarva Power, plans to separate its utility and power generation business into two publicly traded companies.

Delmarva Power will be a part of the utility company that also includes PECO, Atlantic Electric, and BG&E. Delmarva operates in Delaware and the Eastern Shore and Upper Shore of Maryland.

In a message to customers, Derrick Dickens, chief customer officer for Delmarva’s parent company Pepco Holdings, said the company would not change its community commitments.

“We will continue to honor all commitments made when Delmarva Power, as part of Pepco Holdings, merged with Exelon Corporation in 2016, including multi-year charitable and community investments,” Dickens wrote. “Most importantly, Delmarva Power will maintain our commitment to powering our communities with clean and reliable energy, with a continued focus on environmental sustainability and affordable rates.”

A website has been established at exeloncorp.com/separationfacts for more information.

The Exelon power generation and utility businesses have operated separately.

Delmarva exited the generation business before the Exelon acquisition and buys power on the wholesale market under an auction process.

Chicago-based Exelon is a large owner of nuclear power plants and operates the Conowingo Dam hydroelectric plant west of Newark.

Facebook Comments