Exelon Corp. (NASDAQ: EXC) plummets 30% after it announced the completion of the separation of Constellation. Constellation Energy Corporation is the company’s former competitive energy and power generation business. Exelon Corp’s distribution and transmission utility business will use the name Exelon and will continue to use the “EXC” ticker symbol when trading on Nasdaq.
Constellation Energy Corporation is currently using the “CEG” ticker symbol and is using it to continue trading on the NASDAQ.
Top management statements
Exelon Corp’s Chief Executive Officer and President, Christopher Crane, said:
Today is an important milestone in Exelon’s history. With the successful completion of our separation, we step forward in a strong position to serve customer needs, drive growth and social equity in the communities we serve, and deliver sustainable value as our industry continues to evolve.
The CEO continued to say”
As we look to the future, we will advance our core business strategies to meet unique customer and community priorities. We will continue to invest in and modernize the grid for safe, clean and affordable energy choices, a world-class customer experience and more equitable communities.
Mr. Crane extended his thanks to the teams in Constellation and Exelon for their hard work and concentration throughout the entire separation process. He claimed that he’s looking forward to what the new company will deliver as the country’s leading distribution and transmission utility corporation.
Business operations
Exelon Corporation operates across Pennsylvania, New Jersey, Illinois, the District of Columbia, and Delaware. Exelon’s commitment and dedication to all the communities it serves and provides for goes beyond energy delivery. The company also focuses a lot on economic development, environmental sustainability, equity, workforce development, efficiency affordability and reliability.
The company announced its “Path to Clean” initiative to reduce harmful emissions driven by business operations by 50% or more by the time 2030 comes rolling in.
The company will also support clientele in reducing all their operations driven by emissions using the help of a wide variety of offerings, including the adoption of a wider array of renewable energy solutions, energy efficiency improvements, and electric vehicle expansion.
Exelon Corporation is world-renowned for being a leader in the industry with top-in-class business operations.
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