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Exelon Corporation (EXC+1.17%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Exelon's operations as a utility services holding company, which engages in energy transmission and distribution through its subsidiaries, including Commonwealth Edison Company, PECO Energy Company, and Baltimore Gas and Electric Company.
Exelon reported a consolidated net income attributable to common shareholders of $2,460 million for 2024, compared to $2,328 million in 2023. The increase was primarily due to favorable impacts of rate increases at BGE and PHI, less unfavorable weather at PECO, and higher return on regulatory assets at ComEd.
The company highlighted several regulatory proceedings, including completed and pending distribution base rate cases across its subsidiaries. For instance, ComEd's electric distribution revenue is now under a multi-year rate plan, which requires annual reconciliations of the revenue requirement.
Exelon's capital expenditures for 2025 are projected to be $9,075 million, with significant investments planned in electric transmission and distribution infrastructure.
The filing also addresses Exelon's strategy to support clean energy policies, improve reliability, and enhance customer experience while ensuring fair financial returns.
Exelon's liquidity is supported by a combination of internally generated cash flows and external financing. The company maintains credit facilities with aggregate commitments of $4.0 billion.
The report discusses various risks, including regulatory, operational, and market risks, and outlines Exelon's plans to manage these risks through strategic initiatives and regulatory compliance.
Exelon continues to focus on its Path to Clean initiative, aiming to reduce its operations-driven greenhouse gas emissions by 50% by 2030 and achieve net-zero emissions by 2050.
The filing includes a comprehensive overview of Exelon's financial performance, regulatory matters, environmental commitments, and future outlook in the energy sector.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Exelon Corporation annual 10-K report dated February 12, 2025. To report an error, please email earnings@qz.com.