Exelon (NYSE:EXC) will invest $25bN on critical infrastructure, smart grid technology and other reliability and customer service improvements at its utilities over the next five years to benefit its 10 million electric and gas customers, President and CEO Chris Crane told an Aug. 10 analyst day gathering in Philadelphia.
“We see incredible opportunity in the years ahead as Exelon leads the transformation of our industry,” Crane said. “We serve more utility customers and produce more clean energy than any other company nationwide, which gives us a unique platform from which to grow our business and invest in needed infrastructure and innovations to benefit our customers and communities.”
Revenue from Exelon Generation’s power plants, with 32,700 MW of capacity, will help fund investment at the utilities and reduce debt. The company also continues to invest in technology and best practices to drive efficiency in the generation fleet. Exelon Generation’s nuclear fleet operates at an industry-leading 93 percent or higher capacity factor, a key measure of efficiency.
“For the good of our employees, our customers, our communities and the climate, we will keep working for solutions in all of our states to preserve zero-carbon nuclear generation and promote the advancement of clean energy,” Crane said. “But where we can’t see a path to sustained profitability, we have no choice but to shut down plants.”