Responding to rapid changes in the power industry, Exelon Corp. plans to cleave its business into two publicly traded companies: one comprising its six regulated electric and gas utilities, and the other, which it plans to spin off, comprising its 31-GW competitive generation fleet and customer-facing businesses.
The separation—which the company’s Board of Directors approved on Feb. 21 and Exelon wants to complete in the first quarter of 2022—will give each company the “financial and strategic independence to focus on its specific customer needs, while executing its core business strategy,” the company said on Feb. 24.
