{
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  "organisationId": "O-5e4b4a5ee3974fe2aaebd7907033a8e6",
  "slug": "exelon",
  "name": "EXELON CORP",
  "updatedAt": "2026-09-28T11:37:07.350453Z",
  "sections": [
    {
      "type": "OVERVIEW",
      "text": "Exelon Corporation is a U.S. utility holding company focused on the regulated transmission and distribution of electricity and natural gas. Its six utilities—ComEd, PECO, BGE, Pepco, Delmarva Power and Atlantic City Electric—serve almost 11 million customers across northern Illinois, southeastern Pennsylvania, central Maryland, Washington, D.C., Delaware and southern New Jersey. [https://www.sec.gov/Archives/edgar/data/1109357/000110935725000043/R44.htm][https://www.exeloncorp.com/company/about-exelon]\n\nExelon’s stated vision centers on reliable, clean and affordable energy for the communities it serves. The company reported $23.0 billion in 2024 operating revenue and says it has more than 20,000 employees. Its present focus on regulated utilities followed the 2022 separation of its power-generation business into Constellation. [https://www.exeloncorp.com/company/our-vision-and-values][https://www.sec.gov/Archives/edgar/data/1109357/000110935725000043/R3.htm][https://www.exeloncorp.com/company/about-exelon][https://www.sec.gov/Archives/edgar/data/1109357/000110935725000043/R45.htm]\n[https://www.sec.gov/Archives/edgar/data/1109357/000110935725000043/R44.htm][https://www.exeloncorp.com/company/about-exelon][https://www.exeloncorp.com/company/our-vision-and-values][https://www.sec.gov/Archives/edgar/data/1109357/000110935725000043/R3.htm][https://www.sec.gov/Archives/edgar/data/1109357/000110935725000043/R45.htm]",
      "updatedAt": "2026-09-28T11:37:07.350453Z"
    },
    {
      "type": "PRODUCTS",
      "text": "Exelon’s principal services are regulated electricity delivery and, in some territories, natural-gas delivery. ComEd, Pepco and Atlantic City Electric provide electric service; PECO and Baltimore Gas and Electric provide both electric and gas service; and Delmarva Power provides electric service and natural-gas distribution. The electric utilities transmit and distribute power and supply electricity to eligible customers who do not select a competitive supplier. Where supplier choice is available, the utilities continue to deliver the electricity or gas through their networks. [P89933238][P52777622]\n\nCustomer offerings include energy-efficiency and demand-response programs designed to reduce electricity use and peak demand. Specific offerings include home energy audits, efficient-lighting discounts, appliance recycling, home-improvement rebates, equipment-upgrade incentives and smart thermostats. Exelon also deploys smart meters; its disclosures identify dynamic electricity pricing enabled by smart meters at Pepco and Delmarva Power. [P101104309][P37278326][P88525607]\n\nElectricity accounted for approximately 90.5% of Exelon’s 2025 operating revenue ($21.959 billion), and natural gas for approximately 9.5% ($2.299 billion). [https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm]\n[P89933238][P52777622][P101104309][P37278326][P88525607][T7583473][T7583473][T7583473][https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm]",
      "updatedAt": "2026-09-28T11:37:07.350453Z"
    },
    {
      "type": "GEOGRAPHY",
      "text": "Exelon is headquartered in Chicago, Illinois. Its regulated utilities serve customers in Illinois, Pennsylvania, Maryland, Delaware, New Jersey and the District of Columbia. ComEd operates in northern Illinois, including Chicago; PECO serves southeastern Pennsylvania, including Philadelphia; and BGE serves central Maryland, including Baltimore. [https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm]\n\nExelon’s other utilities are Pepco, which serves Washington, D.C., and parts of Montgomery and Prince George’s counties in Maryland; Delmarva Power, which serves parts of Delaware and Maryland; and Atlantic City Electric, which serves parts of southern New Jersey. In 2025, reported utility-segment revenues were $7.27 billion for ComEd, $4.68 billion for PECO, $5.22 billion for BGE, $3.45 billion for Pepco, $1.97 billion for Delmarva Power and $1.72 billion for Atlantic City Electric. These are segment revenues associated with each utility’s service territory, rather than a separate country-by-country sales disclosure. [https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm]\n[T1318537][T10855488][https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm]",
      "updatedAt": "2026-09-28T11:37:07.350453Z"
    },
    {
      "type": "SEGMENTS",
      "text": "Exelon reports six utility segments: ComEd, PECO, BGE, Pepco, DPL and ACE. ComEd distributes electricity in northern Illinois, including Chicago; PECO distributes electricity and natural gas in southeastern Pennsylvania; and BGE distributes both in central Maryland, including Baltimore. Pepco distributes electricity in Washington, D.C., and parts of Maryland; DPL distributes electricity in Delaware and Maryland and natural gas in Delaware; and ACE distributes electricity in southern New Jersey. Pepco, DPL and ACE are held through PHI, which is not a separate seventh reportable segment. [P114522004][P46049218]\n\nBased on 2025 operating revenue, ComEd contributed approximately 30% of the six utilities’ combined revenue, followed by BGE at 21%, PECO at 19%, Pepco at 14%, DPL at 8% and ACE at 7%. These percentages describe the mix of the six utility segments, not shares of consolidated Exelon revenue, which also reflects other activity and intercompany eliminations. [https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm]\n[P114522004][P46049218][T7583473][T7583473][T7583473][T13209269][T13209269][T13209269][https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm]",
      "updatedAt": "2026-09-28T11:37:07.350453Z"
    },
    {
      "type": "HISTORY",
      "text": "Exelon Corporation was formed in October 2000 through the merger of Unicom Corporation, parent of Commonwealth Edison, and PECO Energy Company. Its utility predecessors were considerably older than the Exelon parent company. [https://investors.exeloncorp.com/stock-information/historical-share-information] In 2003, Exelon acquired British Energy’s stake in AmerGen, gaining sole ownership of the nuclear-generation venture and its three plants. [https://www.sec.gov/Archives/edgar/data/1109357/000095015903001054/exelon8k.txt]\n\nExelon completed its merger with Constellation Energy in March 2012, adding Baltimore Gas and Electric and expanding its generation and competitive-energy businesses; Christopher Crane became chief executive of the combined company. [https://www.sec.gov/Archives/edgar/data/9466/000119312512115152/d315958dex993.htm] Its 2016 merger with Pepco Holdings added Pepco, Delmarva Power and Atlantic City Electric. [https://www.sec.gov/Archives/edgar/data/1109357/000119312516515379/d142871dex991.htm] In February 2022, Exelon separated its generation and competitive-energy businesses into an independent company, Constellation Energy, leaving Exelon focused on regulated utilities. [https://www.exeloncorp.com/newsroom/exelon-completes-separation-of-constellation]\n[https://investors.exeloncorp.com/stock-information/historical-share-information][https://www.sec.gov/Archives/edgar/data/1109357/000095015903001054/exelon8k.txt][https://www.sec.gov/Archives/edgar/data/9466/000119312512115152/d315958dex993.htm][https://www.sec.gov/Archives/edgar/data/1109357/000119312516515379/d142871dex991.htm][https://www.exeloncorp.com/newsroom/exelon-completes-separation-of-constellation]",
      "updatedAt": "2026-09-28T11:37:07.350453Z"
    }
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