August 27, 2016 12:55 AM ET

Independent Power and Renewable Electricity Producers

Company Overview of Exelon Generation Company, LLC

Company Overview

Exelon Generation Company, LLC generates and markets electricity in the United States. The company operates through six segments: Mid-Atlantic, Midwest, New England, New York, ERCOT, and Other Power Regions. It also sells renewable energy and other energy-related products and services; and explores for and produces natural gas and oil. The company serves distribution utilities; municipalities; cooperatives; financial institutions; and commercial, industrial, governmental, and residential customers. It has ownership interests in 14 nuclear generating stations, including 24 units with an aggregate of 19,460 megawatts (MW) of capacity; and in 13,281 MW of capacity in fossil, as well as hydroele...

300 Exelon Way

Kennett Square, PA 19348

United States

Founded in 2000

14,512 Employees

Key Executives for Exelon Generation Company, LLC

Chief Executive Officer and President
Age: 50
Chief Financial Officer and Senior Vice President
Age: 49
Chief Operating Officer and Executive Vice President
Age: 55
Chief Executive Officer of Exelon Corporation and President of Exelon Corporation
Age: 57
Chief Executive Officer of PECO and President of PECO
Age: 63
Compensation as of Fiscal Year 2016.

Exelon Generation Company, LLC Key Developments

Exelon Generation Notifies Nuclear Energy Regulator of Plans to Close Clinton and Quad Cities

Exelon Generation formally notified the Nuclear Regulatory Commission (NRC) of plans to retire the Clinton and Quad Cities nuclear stations in 2017 and 2018, respectively. This marks the first of several procedural notifications Exelon will make in the coming months to inform regulators, grid operators and state agencies of the plant retirements. Exelon announced plans to close the plants, given the lack of progress on Illinois energy legislation. The Clinton Power Station in Clinton, Ill., will close on June 1, 2017, and the Quad Cities Generating Station in Cordova, Ill., will close on June 1, 2018. Employees will safely operate the facilities until the retirement dates, with staff transitions expected within six months after retirement. Exelon employs nearly 700 workers at Clinton and 800 workers at Quad Cities.

Exelon Announces Early Retirement of Clinton and Quad Cities Nuclear Plants on June 1, 2017 and June 1, 2018, Respectively

On June 2, 2016, Exelon Corporation announced that Exelon Generation Company, LLC will permanently cease generation operations at Clinton Nuclear Generating Station (Clinton) on June 1, 2017, and at Quad Cities Nuclear Power Station (Quad Cities) on June 1, 2018. The current Nuclear Regulatory Commission (NRC) licenses for Clinton and Quad Cities expire in 2026 and 2032, respectively. The primary factors contributing to the deteriorating economic value of Clinton and Quad Cities include significant declines in plant revenues due to prolonged periods of low wholesale power prices, capacity auction results, regulatory and policy constructs which fail to fairly compensate nuclear plants for their reliability and carbon-free emission aspects, including uncertainty regarding the future of the Clean Power Plan as well as negative factors specific to Clinton, including current flaws in the capacity market design in MISO and Clinton's relatively high operating costs as a single-unit site. All of these factors exacerbate the expectation for continued losses for the foreseeable future. The decision now to move forward with shutting down the Clinton and Quad Cities nuclear plants was made given the lack of progress on Illinois energy legislation. As a result of the plant retirement decision for Clinton and Quad Cities, Exelon and Generation will recognize certain one-time charges in June 2016 ranging from an estimated $150 million to $200 million related to materials and supplies inventory reserve adjustment, employee-related costs, and construction work-in-progress (CWIP) impairment, among other items. Quad Cities and Clinton have lost a combined $800 million in the past seven years, despite being two of Exelon's best-performing plants.

Exelon Corporation, Exelon Generation Company, LLC, Commonwealth Edison Company, PECO Energy Company and Baltimore Gas and Electric Company Enter into Amendments to Syndicated Revolving Credit Facilities

On May 26, 2016, Exelon Corporation, Exelon Generation Company, LLC, Commonwealth Edison Company, PECO Energy Company and Baltimore Gas and Electric Company entered into amendments to each of their respective syndicated revolving credit facilities, which extended the maturity of each of the facilities to May 26, 2021. Exelon also increased the size of its facility from $500 million to $600 million.

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