Dive Summary:
- Chicago-based Exelon is shifting its attention away from its merchant generator business to invest in its regulated utility business and look out for “opportunistic investments,” announced William Von Hoene, senior vice president and chief strategy officer, and Joseph Dominguez, senior vice president for government and regulatory affairs and public policy.
- Exelon will now shift its strategy and invest $13.5 billion over the next five years to upgrade infrastructure, improve reliability and deploy smart meters across its territories. The company is considering buying coal plants that comply with U.S. Environmental Protection Agency regulations.
- The nation's largest nuclear generation owner has felt the impact of low prices in PJM auctions due to the natural gas boom.
From the article:
Exelon, he said, is "positioning our portfolio to take advantage of our belief in the market's upside. As you know, we look at the marketplace and believe there is a disconnect between forward prices and what prices will be when coal plants retire."