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Stock Market & Financial Investment News

News Breaks
July 1, 2014
18:28 EDTEXCExelon reports over 400K ComEd customers affected by storm
ComEd has restored approximately 257,000 customers after storms with hurricane force winds swept through the ComEd territory on Monday night, knocking out power to more than 400,000 customers. Lightning and winds in excess of 75 mph caused widespread damage, bringing down power lines and trees and causing severe damage. Currently, approximately 147,000 customers remain without service. ComEd has mobilized roughly 760 ComEd and contract crews to restore power as quickly and safely as possible to those affected. In addition, the utility secured additional resources from nine other states – including Kansas, Tennessee and Massachusetts. ComEd’s South region was hardest hit, with approximately 134,000 customers currently out of power. Chicago has 7,000 customers without power. The West region has 5,700 customers without power while outages in the North region are affecting approximately 600 customers. Based on past storms of a similar magnitude, the company currently estimates that the remaining customers will have their service restored by late Thursday night, with the exception of some pockets in hardest hit areas. ComEd’s restoration process begins immediately with damage assessment. This process enables the company to determine hardest hit areas and establish restoration times. The company then prioritizes outage restoration to ensure public safety first such as police and fire, followed by hospitals and other critical customers such as pumping stations. ComEd then restores feeders, which allows the company to return power to the largest numbers of customers at one time, followed by smaller service restorations and individual outages.
News For EXC From The Last 14 Days
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July 23, 2015
14:33 EDTEXCPepco continues to expect to complete merger with Exelon in Q3
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14:32 EDTEXCPepco says request filed for stay of MPSC order related to merger
In a regulatory filing, Pepco Holdings (POM) disclosed that on July 21, the Maryland Office of People’s Counsel filed a Motion in the Circuit Court for Queen Anne’s County, Maryland, requesting a stay of the MPSC Order and to conduct additional discovery and present additional evidence in light of an alleged conflict of interest on the part of a former MPSC Commissioner. "Pepco Holdings believes the motion is without merit and intends to vigorously oppose it and any other attempts to impede the effectiveness of the MPSC Order or delay the closing of the merger," the company said. As previously disclosed, on April 29, 2014, Pepco Holdings entered into an agreement and plan of merger with Exelon (EXC).
July 16, 2015
12:02 EDTEXCGE says GS Power selects 7HA.02 gas turbine, clutched steam turbine
Korea’s GS Power has selected GE’s (GE) high efficiency 7HA.02 gas turbine, and associated clutched steam turbine, for a new combined-cycle power plant in Anyang, Korea. This marks the 17th order for GE’s HA gas turbine technology, which also celebrates its first commercial shipment to Électricité de France this month, and the first U.S. groundbreaking for two future Exelon (EXC) plants in Texas. With the GS Power project, 17 HA units have been ordered and 61 HA units have been technically selected by customers around the world.

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