Exelon Announces Split
On February 24th, Exelon Corporation announced that its Board of Directors has approved a plan to separate Exelon Utilities and Exelon Generation into two publicly traded companies . The spin-off is expected to be completed in the first quarter of next year.
Exelon Utilities is comprised of six regulated electric and gas utilities with more than 10 million electricity and natural gas customers across five states and the District of Columbia.
Exelon Generation has the nation’s largest nuclear plant fleet which produced 150 million megawatt hours of electricity last year and operates approximately 12,000 megawatts of hydroelectric, wind, solar, natural gas and oil generation plants.
Stock shareholders will retain their current shares of Exelon stock and receive a pro-rata dividend of shares of the new generation company’s stock.