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Exelon Corporation is an American public utility headquartered in Chicago, and incorporated in Pennsylvania. [1] Exelon is the largest electric parent company in the United States by revenue and is the largest regulated electric utility in the United States with approximately 10 million customers. The company is ranked 99th on the Fortune 500. [2]
Baltimore Gas and Electric Company (BGE) is a subsidiary of the Exelon Corporation and Maryland’s largest gas and electric utility. BGE earlier had created the holding company Constellation Energy in 1999. [3] Constellation Energy was acquired by Exelon in 2012. [4]
The Baltimore Gas and Electric Company Building is a historic office building located at Baltimore, Maryland, United States.It is the former headquarters of the old Consolidated Gas, Light and Electric Power Company of Baltimore City, which was a merger at the turn of the 20th century of the former century old Gas Light Company of Baltimore with several other formerly competing gas and ...
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The current iteration of the company was founded in 2022 after splitting off from Exelon. [5] Before merging with Exelon, Constellation Energy Group operated more than 35 power plants in 11 states (mainly Maryland, Pennsylvania, New York, West Virginia, and California). Baltimore Gas and Electric created Constellation as a holding company in 1999.
In 2014, Pepco Holdings agreed to be acquired by Exelon for $6.8 billion. [12] The deal faced opposition from Pepco customers and from officials in Washington and Maryland, but was ultimately approved. [13] The acquisition was completed on March 23, 2016, making Pepco a subsidiary of Exelon. [14] [15]
As a result, Exelon serves as the parent company of Delmarva Power. [ 10 ] In 2018, after Congress reduced corporate tax rates from 35% to 21%, Delmarva Power announced that they were reducing their annual power rate increase request for their territory in the state of Delaware by $26 million.
PECO, formerly the Philadelphia Electric Company, is an energy company founded in 1881 and incorporated in 1929. [1] It became part of Exelon Corporation in 2000 when it merged with Commonwealth Edison's holding company Unicom Corp.