Who Owns Atlantic City Electric?
Atlantic City Electric is owned by Exelon Corporation, a publicly traded American electric utility holding company. Atlantic City Electric operates as Exelon's subsidiary in New Jersey, providing electricity to approximately 545,000 customers. The company is headquartered in Atlantic City, New Jersey.
Parent Company
Exelon Corporation
Acquired
2016
Status
Private
Headquarters
Atlantic City, New Jersey, USA
Who Owns Atlantic City Electric?
- Parent Company: Exelon Corporation
- Ownership Type: Wholly owned
- Acquisition Year: 2016
- Company Type: Publicly Traded
- Stock Ticker: NASDAQ: EXC
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Atlantic City Electric | Exelon Corporation | Wholly owned |
History of Atlantic City Electric
- Founded: 1924
- Founders: Atlantic City Electric Company (internal development)
- Acquired by Exelon Corporation: 2016
Atlantic City Electric was formed in 1924 through the consolidation of several smaller electric utilities serving the Atlantic City, New Jersey area. The company grew steadily through the mid-twentieth century as South Jersey's population expanded, extending its service territory across southern New Jersey.
The company was long owned by GPU Inc. (formerly General Public Utilities), then passed to Conectiv in 1997 and subsequently to Pepco Holdings Inc. in 2002. Pepco Holdings operated multiple utility subsidiaries across the Mid-Atlantic region, including Pepco (DC and Maryland) and Delmarva Power (Delaware and Maryland), in addition to Atlantic City Electric.
In 2016, Exelon Corporation acquired Pepco Holdings for approximately 6.8 billion dollars, bringing Atlantic City Electric into the Exelon family of utilities. The acquisition made Exelon the largest regulated utility company in the United States by customer count at the time.
Under Exelon's ownership, Atlantic City Electric launched its Powering the Future initiative, a 1.4 billion dollar grid modernization program covering 80 projects. The plan includes advanced metering infrastructure, smart grid automation, and expanded capacity to connect solar and distributed energy resources.
About Exelon Corporation
What does Exelon own?
Exelon owns a portfolio of six regulated utility subsidiaries including ComEd (Illinois), PECO Energy (Pennsylvania), Baltimore Gas and Electric (Maryland), Pepco (Washington, D.C. and Maryland), Delmarva Power (Delaware and Maryland), and Atlantic City Electric (New Jersey). The company operates as a comprehensive utility holding company providing electric and natural gas services to over 10 million customers across the Mid-Atlantic and Northeast regions through its extensive distribution networks and infrastructure.
Is Exelon publicly traded?
Yes, Exelon is publicly traded on the NASDAQ stock exchange under ticker symbol EXC. The company has been publicly traded since its formation in 2000 and is owned by institutional and individual shareholders worldwide.
Who founded Exelon?
Exelon was founded in October 2000 through the merger of PECO Energy Company (founded 1902) and Unicom Corporation (parent of Commonwealth Edison, founded 1907). The merger combined two major utility companies with significant operational histories.
Where is Exelon headquartered?
Exelon is headquartered in Chicago, Illinois, USA, where it has been based since its founding. The company maintains operational centers and facilities across its service territories in Illinois, Pennsylvania, Maryland, Delaware, New Jersey, and Washington, D.C.
How many brands does Exelon own?
Exelon owns 6 regulated utility subsidiaries: ComEd, PECO Energy, Baltimore Gas and Electric, Pepco, Delmarva Power, and Atlantic City Electric. Each utility operates as a distinct brand in its geographic service territory while remaining under Exelon's strategic direction.
Who owns Exelon?
Exelon is publicly owned with no controlling shareholder. Ownership is distributed among institutional investors, mutual funds, pension funds, and individual shareholders worldwide through NASDAQ trading. The company operates independently with oversight from its board of directors and executive leadership team.
What is Exelon's revenue?
Exelon reported approximately $21.8 billion in revenue for fiscal year 2024, generating income primarily through regulated electric and natural gas distribution services across its six utility subsidiaries serving over 10 million customers.
What controversies has Exelon faced?
Exelon has faced controversies including environmental compliance issues related to carbon emissions and fossil fuel generation, rate setting and regulatory approval processes with state utility commissions, infrastructure reliability concerns following weather events, environmental justice issues regarding equitable energy access and infrastructure placement, and regulatory complexity across multiple jurisdictions for utility operations.
- Founded: 2000
- Headquarters: Chicago, Illinois, USA
- Company Type: Publicly Traded
- Stock: NASDAQ: EXC
- Revenue: approximately $21.8 billion (FY2024)
- Employees: Approximately 20,000
Where Is Atlantic City Electric Made / Based?
- Headquarters: Atlantic City, New Jersey, USA
- Manufacturing / Operations: United States
Atlantic City Electric Sustainability & Ethics
Atlantic City Electric's sustainability program is aligned with Exelon's corporate targets and New Jersey's state clean energy mandates. Exelon has set a goal of net-zero greenhouse gas emissions by 2050 across its operations. Atlantic City Electric's contribution focuses on grid infrastructure that enables clean energy integration.
The Powering the Future initiative plans to enable the connection of approximately 50,000 additional residential solar arrays, more than doubling the current solar capacity in the company's service territory. The program includes advanced metering infrastructure that supports time-of-use pricing and demand response, which help reduce peak electricity consumption.
Atlantic City Electric participates in the Sustainable Communities Grant Program, providing funding to South Jersey municipalities for environmental stewardship and resiliency projects. New Jersey mandates specific energy efficiency program offerings for regulated utilities, and Atlantic City Electric complies with these through rebate programs for appliances, lighting, and building upgrades.
Exelon does not report Scope 1 or 2 emissions separately for Atlantic City Electric. Exelon group-wide Scope 1 emissions data is reported in Exelon's annual sustainability report. No specific environmental enforcement actions against Atlantic City Electric have been publicly reported as of June 2026.
Awards & Recognition
Atlantic City Electric has received Edison Electric Institute (EEI) awards for emergency response and restoration performance following major storms, recognizing the speed and scale of outage restoration after severe weather events.
The utility's South Jersey Utility Training Program and Atlantic City Infrastructure Program have been recognized by the New Jersey Business and Industry Association for workforce development in underserved communities.
The Powering the Future initiative was cited by the Solar Energy Industries Association for its approach to expanding solar interconnection capacity in South Jersey.
Atlantic City Electric Recalls & Controversies
Rate Increase Proposals (2023-2027): Atlantic City Electric's Powering the Future infrastructure program required regulatory approval for rate increases to fund its 1.4 billion dollar capital plan. The New Jersey Board of Public Utilities approved phased increases totaling approximately 3.55% for typical residential customers over four years. Consumer advocacy groups including New Jersey Rate Counsel challenged portions of the rate case, arguing the increases were excessive relative to demonstrated reliability benefits. The rate increases were approved subject to conditions.
Storm Restoration Performance Complaints: Atlantic City Electric has received customer complaints and regulatory scrutiny after extended outages following major storms, including Hurricane Ida (2021) and a series of Nor'easters. The New Jersey Board of Public Utilities has reviewed restoration timelines and required utilities including Atlantic City Electric to submit reliability improvement plans.
Pepco Holdings Acquisition NJ Regulatory Delay: The 2016 Exelon-Pepco Holdings acquisition required approval from multiple state regulators. New Jersey regulators initially rejected the merger, citing insufficient consumer benefits. The deal was ultimately approved after Exelon agreed to additional consumer commitments, including rate credits and economic development investments in New Jersey.
No Product Recalls: Atlantic City Electric does not manufacture consumer products. No product safety recalls related to Atlantic City Electric are recorded by the Consumer Product Safety Commission as of June 2026.
Brands Owned by Exelon Corporation
- Baltimore Gas and Electric - Maryland-based electric and natural gas utility founded in 1816 and owned by Exe...
- ComEd - Illinois-based electric utility company serving millions of customers in norther...
- Delmarva Power - Delaware and Maryland-based electric and natural gas utility company serving hun...
- PECO Energy Company - Pennsylvania-based electric and natural gas utility company serving millions of ...
- Pepco - Washington, D.C. and Maryland-based electric utility company serving hundreds of...
Atlantic City Electric Ownership: Pros & Cons
Advantages
- +Access to Exelon's financial resources and operational expertise
- +Investment in infrastructure modernisation and grid reliability improvements
- +Integration with largest regulated utility company in the United States
- +Strong focus on customer service and operational excellence
- +Support for clean energy transition and renewable energy integration
- +Operational stability backed by Exelon's financial strength and experience
Considerations
- -Regulatory oversight from New Jersey Board of Public Utilities
- -Dependency on parent company strategic decisions and capital allocation
- -Integration challenges managing New Jersey-specific market conditions and regulations
- -Environmental compliance requirements across service territory
- -Exposure to weather-related impacts on customer demand and operations
- -Rate regulation limiting pricing flexibility
- -Political and regulatory risk in New Jersey
Frequently Asked Questions About Atlantic City Electric
Sources & Further Reading
Competitors to Atlantic City Electric
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Southern Company | USA | 1906 | Mass market | United states | All-ages | |
| Iberdrola | USA | 2015 | Mass market | United states | Unisex | |
| Dte Energy | USA | 1903 | Mass market | United states | All-ages | |
| Southern Company | USA | 1910 | Mass market | United states | All-ages | |
| Iberdrola | Brazil | 1997 | Mass market | South america | All-ages | |
| Iberdrola | United Kingdom | 1990 | Mass market | Global | All-ages |
Learn More About Competitors

Alabama Power
Owned by Southern Company
Alabama-based electric utility company serving millions of customers across the state, owned by Southern Company.

Avangrid
Owned by Iberdrola
US-based energy company providing electricity and natural gas services to millions of customers across multiple states, owned by Spanish utility Iberdrola.

DTE Electric
Owned by DTE Energy Company
Michigan-based electric utility company serving millions of customers in Southeast Michigan and the thumb region, owned by DTE Energy Company.

Mississippi Power
Owned by Southern Company
Mississippi-based electric utility company serving customers along the Gulf Coast, owned by Southern Company.

Neoenergia
Owned by Iberdrola
Brazilian electricity distribution and generation company serving millions of customers across 18 states, owned by Spanish utility Iberdrola.

ScottishPower
Owned by Iberdrola
UK-based energy company providing electricity and gas to millions of customers across Great Britain, owned by Spanish utility Iberdrola.
Competitive Analysis
Market Positioning: Atlantic City Electric competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
Exelon Corporation Stock Information
Jobs at Exelon Corporation
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