Exelon Utilities Announces Goal to Achieve Net-Zero Emissions By 2050

Expanded goal targets operations-driven emissions and helping customers meet climate goals through equitable clean energy solutions

Exelon Utilities today announced it will reduce its operations-driven emissions 50 percent by 2030* and ultimately to net-zero by 2050 as part of its continuing efforts to address the climate crisis. A division of Exelon Corporation, Exelon Utilities is composed of Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and PEPCO. The six utilities deliver electricity and gas to more than 10 million customers across five states and the District of Columbia.

As the nation’s largest producer of emissions-free energy, Exelon Corporation has a long history of leadership on climate change, having met – and exceeded -- three previous emissions reduction goals spanning both our generation company and utilities division dating back to 2005. Each of the company’s utilities has already reduced their own emissions significantly and worked in their communities to deploy smart grid technology, electric vehicle infrastructure and other tools and programs aimed at making the grid more efficient and helping customers reduce energy use. The latest “Path to Clean” goal takes those efforts to the next level.

“Our customers have made clear that climate change is important to them and they want us to continue being part of the solution and pushing ourselves to do more,” said Calvin Butler, CEO of Exelon Utilities. “These aggressive goals seek to eliminate emissions from our utility operations, provide needed support to state and local climate goals and give customers expanded access to clean and affordable energy solutions.”

To achieve net-zero emissions from operations, some of the actions Exelon Utilities will take include:

• Converting 30 percent of its vehicle fleet to electric by 2025 and 50 percent by 2030
• Focusing technology and infrastructure investments on increasing energy efficiency and utilizing clean electricity for operations
• Modernizing natural gas infrastructure to minimize methane leaks and increase safety and reliability

The company also will seek to reduce emissions beyond its own operations by continuing to advocate for sound climate policies, partnering with state and local leaders to achieve community emissions goals, and piloting new grid technologies, among other actions. With transportation accounting for more than half of all carbon emissions, each of the six Exelon utilities has taken steps to support electric vehicle adoption in their jurisdictions. The company also continues to prioritize innovative energy efficiency programs, which in 2020 helped customers save money on their energy bills and reduced usage by 22.3 million megawatt hours, or the equivalent energy use of 932,000 average homes for a year.

As the company moves toward net-zero, another key priority will be to ensure that the economic, jobs and environmental benefits of clean energy are shared equally.

“Equity is central to everything we do at Exelon Utilities, and that mindset guides us in achieving this ambitious goal and combatting the effects of climate change, which have a disproportionate impact on underserved and under-resourced communities,” Butler said. “That same focus on equity is critical to an economy-wide transformation as well, and our company will be a leader in advocating for policy measures and technology solutions that help all communities thrive.”

Additional details on Exelon’s GHG emissions management and accounting program can be found in the 2020 Corporate Sustainability Report.

*The goal to reduce emissions 50 percent by 2030 is relative to a 2015 emissions baseline.

About Exelon

Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.

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