
'Commitment to Our Communities:' Exelon Steps in to Provide $50 Million Customer Relief Fund for Customers Struggling with Higher Energy Supply Costs
CHICAGO--(BUSINESS WIRE)--Exelon (Nasdaq: EXC) today announced a $50 million Customer Relief Fund to help low- and middle-income (LMI) customers struggling as energy supply costs escalate this summer. Exelon's local energy companies – Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco – will join with trusted local nonprofits to determine customer eligibility and administer relief. Each nonprofit will receive a portion of the $50 million commitment as a one-time charitable contribution from Exelon.
Beginning in early July, customers of Atlantic City Electric, BGE, ComEd, Delmarva Power and Pepco will be able to apply for assistance through the Customer Relief Fund. Customers of PECO in the Philadelphia area will be able to apply in August. Qualifying customers may see as much as several hundred dollars in relief.
The fund is a temporary, one-time assistance program designed to help manage the impact of rising energy supply costs as demand increases and supply is not there to meet it. Although all customers are affected by these increases, the fund is designed to provide support to those who may be most in need. While Exelon does not control energy supply costs, the company is committed to advocating for customers and working to find solutions with those who do.
'Exelon understands that high energy bills, caused by increased supply costs, are extremely stressful for low- and middle-income customers – which includes many seniors, small business owners and families experiencing challenges,' said Exelon President and CEO Calvin Butler. 'The Customer Relief Fund, in addition to our existing year-round programs supporting customers with energy assistance, once again demonstrates Exelon's commitment to our communities. We continue to work with federal, state and local officials to develop long-term solutions that ensure customers affordable, reliable and sustainable energy.'
How the Customer Relief Fund Will Work
Exelon is making a one-time charitable contribution totaling $50 million to trusted community nonprofits to assist customers. In these challenging times, Exelon hopes this contribution will catalyze additional philanthropic giving to support communities.
Details regarding administration of the Customer Relief Fund, including eligibility and disbursement of relief, will vary by operating company and its alliance with local nonprofits. Customers are encouraged to visit the websites of their local energy companies to learn how they can secure local support.
Helping Customers Cope
Though the Customer Relief Fund is a temporary program designed to address the current needs of customers, it is a key part of Exelon's and its local energy companies' comprehensive efforts helping customers afford and manage energy costs, including:
Energy efficiency programs to help customers reduce energy consumption.
Working with state and local governments to develop innovative programs that provide customers access to additional relief for high energy costs.
Budget billing and flexible payment options to help customers manage costs, especially during higher usage periods.
In addition to these short- and medium-term efforts to help customers cope with higher energy costs, Exelon continues working with federal, state and local officials to develop long-term solutions that deliver reliable and affordable energy to customers, including bringing more electricity generation online quickly through reforms to promote the re-use of retiring or retired generation sites. By accelerating the delivery of new, clean sources of power – while supporting local communities and embracing best practices from other parts of the country – we can work with customers to decrease overall electricity demands when the grid is stressed.
Exelon remains committed to serving customers and communities in times of need. The Customer Relief Fund is part of Exelon's broader support for customers, which in 2024 included $492.1 million in energy assistance programs serving 520,000 customers and nearly $1 billion in energy efficiency programs to help customers save energy and money.
Though energy costs continue rising, Exelon customers have seen rates 21 percent below the largest U.S. cities, while also experiencing a 35 percent improvement in reliability because of our grid investments.
About Exelon
Exelon (Nasdaq: EXC) is a Fortune 200 company and one of the nation's largest utility companies, serving more than 10.7 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco. Exelon's 20,000 employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on X, @Exelon.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
HSBC Raises Price Target on Broadcom (AVGO) to $400 From $240, Upgrades it to Buy
Broadcom Inc. (NASDAQ:AVGO) is one of the 13 Best Long Term Growth Stocks to Invest in Right Now. On June 24, HSBC made a notable improvement in its price target for Broadcom Inc. (NASDAQ:AVGO), nearly doubling it from $240 to $400. Analyst Frank Lee upgraded the stock to Buy, expressing bullish sentiments for the company's AI chip revenues and stating that they are likely to 'significantly beat market expectations.' The notable price target hike implies significant potential for Broadcom Inc. (NASDAQ:AVGO) ahead. A technician working at a magnified microscope, developing a new integrated circuit. HSBC was previously less bullish on the stock because of its concerns about Apple's share loss in the wireless segment and wanted better visibility into the Application-Specific Integrated Circuit customer pipeline. The analyst told investors in a research note that it turned bullish on Broadcom Inc. (NASDAQ:AVGO) because it expects its ASIC revenues to considerably exceed market expectations, supported by pricing power and better ASIC project visibility. Broadcom Inc. (NASDAQ:AVGO) is a leading multinational technology company specializing in semiconductor and infrastructure software products. While we acknowledge the potential of AVGO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
PayPal, Big Ten & Big 12 Conferences Partner for Student-Athlete Revenue Sharing
PayPal Holdings Inc. (NASDAQ:PYPL) is one of the undervalued S&P 500 stocks to buy according to hedge funds. On June 26, PayPal announced multi-year partnerships with the Big Ten and Big 12 Conferences to revolutionize the distribution of institutional payments from universities directly to student-athletes under a new revenue-sharing model. The initiative allows athletic departments to securely and efficiently disburse funds through PayPal. The Big 12's agreement with PayPal is valued at ~$100 million over 5 years, which amounts to ~$1 million per school annually. The collaboration follows a recent court decision permitting colleges and universities to share revenue directly with student-athletes. A consumer in a cafe paying for goods using a mobile payment app. The first phase of the rollout is expected to begin in the summer of 2025, with student-athletes starting to receive these institutional payments via PayPal as early as July 1. PayPal is also set to become a preferred payment partner for tuition payments at select schools and offer students and parents a convenient and flexible payment option starting in early 2026. PayPal Holdings Inc. (NASDAQ:PYPL) is a technology platform that enables digital payments for merchants and consumers worldwide. While we acknowledge the potential of PYPL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
3 hours ago
- Yahoo
What Makes Cisco Systems, Inc. (CSCO) One of the Best Dividend Picks This Year
Cisco Systems, Inc. (NASDAQ:CSCO) is one of the Best Stocks to Buy for Dividends. Engineers using the latest Cisco TelePresence technology to collaborate with colleagues around the world. The company's business remains on solid footing. In March, it introduced its Webex AI agent designed for customer service applications, marking progress in its innovation efforts. Cisco Systems, Inc. (NASDAQ:CSCO) is also effectively managing expenses, with operating costs in fiscal Q3 of 2025 remaining flat compared to the previous year. A slight improvement in gross margin led to a healthy rise in operating income. While the company still generates much of its revenue from established areas like routing and switching, these segments provide a steady cash flow that supports its ongoing business transformation. Cisco Systems, Inc. (NASDAQ:CSCO) continues to return significant capital to shareholders, backed by strong free cash flow. The stock offers a 2.4% dividend yield and benefits from a newly approved $15 billion share buyback program. In the most recent quarter, the company generated $4.1 billion in operating cash flow, up 2% from the same period last year, and returned $3.1 billion to shareholders through dividends and repurchases. Cisco Systems, Inc. (NASDAQ:CSCO)'s acquisition strategy also supports its dividend outlook, especially when deals boost cash flow. A notable example is the company's 2024 acquisition of Splunk, which added about $1.4 billion to fiscal 2024 revenue. It currently offers a quarterly dividend of $0.41 per share. While we acknowledge the potential of CSCO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure. None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data