Is ComEd a subsidiary of Exelon?

Yes, ComEd is a wholly-owned subsidiary of Exelon Corporation. Exelon acquired ComEd through its 2000 merger with Unicom Corporation, ComEd's parent company at the time. ComEd's financial results are consolidated into Exelon's SEC filings, and the utility operates under Exelon's corporate governance.

Is ComEd publicly traded?

ComEd itself is not publicly traded. Its parent company, Exelon Corporation, is publicly traded on the NASDAQ stock exchange under the ticker symbol EXC. Investors who own Exelon shares indirectly own a stake in ComEd through the parent company.

When was ComEd founded?

ComEd was founded in 1907 as Commonwealth Edison Company by Samuel Insull, a former private secretary to Thomas Edison. The company became a subsidiary of Unicom Corporation in 1998 and was acquired by Exelon Corporation in 2000 through the merger of Unicom and PECO Energy.

Samuel Insull, a British-born American businessman, founded Commonwealth Edison Company in 1907. Insull had previously worked as Thomas Edison's private secretary. He built Commonwealth Edison by acquiring and consolidating small electric utilities across Chicago, using economies of scale to reduce electricity prices and expand the customer base.

What is ComEd's market position?

ComEd is the largest electric utility in Illinois and one of the largest in the United States by customer count. The company serves approximately 4 million electric customers across an 11,400-square-mile service territory in northern Illinois, including the city of Chicago. ComEd operates as a regulated monopoly with rates set by the Illinois Commerce Commission.

Has ComEd had any controversies?

Yes. In 2020, ComEd admitted to a bribery scheme involving former Illinois House Speaker Michael Madigan and paid a $200 million fine under a deferred prosecution agreement. The agreement expired in 2024 without charges being filed. ComEd has also faced opposition to rate increases, including a $243 million increase approved in December 2025 and a $15.3 billion grid plan filed in January 2026.

Where does ComEd provide service?

ComEd provides electric distribution service across approximately 11,400 square miles in northern Illinois, including Chicago and surrounding counties. The company serves approximately 4 million residential, commercial, and industrial customers. ComEd operates approximately 90,000 miles of power lines in its designated service territory.

Energy & Utilities

Who Owns ComEd?

ComEd is owned by Exelon Corporation (NASDAQ: EXC), a publicly traded electric utility holding company. Exelon acquired ComEd through its 2000 merger with Unicom Corporation. ComEd serves approximately 4 million electric customers across northern Illinois and is headquartered in Chicago, Illinois, USA.

Parent Company

Exelon Corporation

Acquired

2000

Status

Publicly Traded

Headquarters

Chicago, Illinois, USA

ComEd Timeline

1907

ComEd

Founded by Samuel Insull

Founded

2000

Acquired by Exelon Corporation

Exelon Corporation acquired ComEd

Acquired

United StatesOfficial Website

Who Owns ComEd?

Parent Company: Exelon Corporation
Ownership Type: Subsidiary
Acquisition Year: 2000
Company Type: Publicly Traded
Stock Ticker: NASDAQ: EXC

Brand	Parent Company	Ownership Type
ComEd	Exelon Corporation	Subsidiary

History of ComEd

Founded: 1907
Founders: Samuel Insull
Acquired by Exelon Corporation: 2000

Commonwealth Edison Company was founded in 1907 by Samuel Insull, a British-born American businessman who had previously worked as Thomas Edison's private secretary. Insull acquired small electric utilities across Chicago and consolidated them into Commonwealth Edison. His strategy was to build large central generating stations and use economies of scale to reduce electricity prices, which expanded the customer base and increased demand.

By the 1920s, Commonwealth Edison was one of the largest electric utilities in the United States. Insull built the company into a massive utility holding company structure that controlled utilities across multiple states. The Great Depression and the collapse of his utility empire in 1932 led to Insull's departure, but Commonwealth Edison itself survived and continued operating as Chicago's primary electric utility.

Through the mid-20th century, Commonwealth Edison expanded its generating capacity with coal-fired and nuclear power plants. The company opened the Dresden Nuclear Power Station in 1960, the first privately financed nuclear power plant in the United States. By the 1980s, ComEd operated one of the largest nuclear fleets in the country, with six nuclear stations providing a significant portion of its electricity.

In the 1990s, the electric utility industry began moving toward deregulation. The Energy Policy Act of 1992 opened the wholesale electricity market to competition. In Illinois, the Electric Service Customer Choice and Rate Relief Law of 1997 began the process of restructuring the state's electric utility industry. In response, Commonwealth Edison restructured its operations and transferred its generating assets to an unregulated affiliate.

In 1998, Commonwealth Edison's parent company was reorganized as Unicom Corporation, with Commonwealth Edison becoming a subsidiary. In 2000, Unicom Corporation merged with PECO Energy Company of Philadelphia to form Exelon Corporation. The merger created one of the largest electric utility companies in the United States, with ComEd as the Illinois operating subsidiary.

Under Exelon ownership, ComEd invested heavily in grid modernization. The company launched a $2.6 billion smart grid investment program in 2012, installing approximately 4 million smart meters across its service territory by 2019. The program included distribution automation, which reduced the frequency and duration of power outages. ComEd reported that these investments avoided more than 19 million customer interruptions between 2012 and 2024.

In 2021, Illinois passed the Climate and Equitable Jobs Act (CEJA), which set a target of 100% clean energy by 2050. The law required ComEd to file multi-year grid plans with the ICC and invest in renewable energy integration, energy efficiency programs, and electric vehicle charging infrastructure. ComEd filed its first grid plan under CEJA in 2023, requesting approximately $3.7 billion over four years.

In January 2026, ComEd filed a new $15.3 billion four-year grid plan with the ICC, covering the period from 2028 to 2031. The plan proposed investments in grid reliability, renewable energy integration, and electric vehicle infrastructure. Consumer advocates pushed back against the filing, citing concerns about rate increases for residential customers.

In 2024, ComEd was involved in a deferred prosecution agreement related to a corruption scandal. The company had admitted in 2020 to engaging in a bribery scheme involving former Illinois House Speaker Michael Madigan, in which ComEd provided jobs and contracts to associates of Madigan in exchange for favorable legislation. ComEd paid a $200 million fine as part of a deferred prosecution agreement with the U.S. Attorney's Office for the Northern District of Illinois. In 2024, the deferred prosecution agreement expired without charges being filed, as ComEd had complied with all terms of the agreement.

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 total operating revenues of $24.3 billion for fiscal year 2025 (up from $23.0 billion in 2024), generating income primarily through regulated electric and natural gas distribution and transmission services across its six utility subsidiaries serving over 10 million customers. GAAP net income was $2.73 per share and adjusted operating earnings were $2.77 per share.

What is Exelon's 2026 guidance?
Exelon introduced 2026 adjusted operating earnings guidance of $2.81-$2.91 per share, representing over 6% growth from 2025. The company is targeting adjusted operating EPS CAGR of 5-7% from 2025 to 2029, with expectations near the top end, and projecting 5% annual dividend growth. The $41.3 billion capital plan for 2026-2029 is projected to result in 7.9% rate base growth.

What controversies has Exelon faced?
Exelon has faced controversies including environmental compliance issues related to historical fossil fuel generation (before the Constellation spin-off), rate setting and regulatory approval processes with state utility commissions, infrastructure reliability concerns following extreme weather events, environmental justice issues regarding equitable energy access and infrastructure placement, and regulatory complexity across multiple jurisdictions for utility operations. The company has also faced scrutiny over ComEd's lobbying practices in Illinois, which led to legislative reforms and compliance enhancements.

Founded: 2000
Headquarters: Chicago, Illinois, United States
Company Type: Publicly Traded
Stock: NASDAQ: EXC
Revenue: approximately $24.3 billion (FY2025)
Employees: Approximately 20,000

Visit Exelon Corporation website

View full company profile for Exelon Corporation

Where Is ComEd Made / Based?

Headquarters: Chicago, Illinois, USA

ComEd Categories & Tags

Electricity Utilities Power Distribution Illinois Exelon

ComEd Sustainability & Ethics

ComEd's sustainability initiatives are governed by Illinois state policy and Exelon Corporation's environmental framework. The most significant policy driver is the Climate and Equitable Jobs Act (CEJA), passed in 2021, which requires Illinois to achieve 100% clean energy by 2050.

ComEd does not generate electricity. Its role in the clean energy transition is to modernize its distribution grid to accommodate renewable energy sources like solar and wind. The company has invested in smart grid technology, distribution automation, and advanced metering infrastructure to support the integration of distributed energy resources such as rooftop solar panels and battery storage.

As of January 2023, ComEd's own facilities are powered with 100% carbon-free energy through an agreement with Constellation Energy. This arrangement covers 54 ComEd facility locations and uses approximately 70,000 MWh of carbon-free electricity annually, avoiding approximately 21,000 metric tons of carbon emissions per year.

ComEd supports electric vehicle adoption in Illinois through several programs. The company offers residential charging incentives, has installed approximately 500 charging stations at its facilities, and targets converting 50% of its vehicle fleet to electric by 2030. Illinois has set a goal of 1 million electric vehicles on the road by 2030.

Exelon Corporation has committed to achieving net zero emissions by 2050 under its "Path to Clean" initiative, with an interim target of reducing operations-driven emissions by 50% by 2030. ComEd's facilities contribute to this target through the Constellation carbon-free energy agreement.

ComEd's Chicago North facility achieved LEED Platinum certification from the U.S. Green Building Council, the highest level of LEED certification. The 104,000-square-foot building uses solar panels, electric heat pumps, and energy-efficient construction methods.

ComEd is not a certified B Corporation. Its sustainability initiatives are driven by regulatory compliance with CEJA and voluntary programs under Exelon's corporate framework rather than independent third-party certification.

Awards & Recognition

ComEd received the ReliabilityOne Outstanding System Reliability Award from PA Consulting in 2023, recognizing the company as the most reliable electric utility in the United States. This national award followed a decade of grid modernization investments that reduced outage frequency and duration by approximately 80%.

In 2024, ComEd received two additional ReliabilityOne Awards: Outstanding Reliability Performance in the Midwest Region and an Outstanding Climate Action Leader award. The dual recognition acknowledged both the company's reliability improvements and its investments in clean energy infrastructure.

ComEd has performed consistently well in J.D. Power's U.S. Electric Utility Business Customer Satisfaction Study. The company has ranked in the top quartile for customer satisfaction among large electric utilities in the Midwest region.

ComEd President and COO Terence R. Donnelly received the Outstanding Contributor to Reliability award from PA Consulting, recognizing his leadership during the grid modernization program.

The company's Chicago North facility received LEED Platinum certification from the U.S. Green Building Council, the highest level of green building certification available.

ComEd Recalls & Controversies

The most significant controversy in ComEd's recent history is the corruption scandal involving former Illinois House Speaker Michael Madigan. In 2020, ComEd admitted to a bribery scheme in which the utility provided jobs, contracts, and payments to associates of Madigan in exchange for favorable legislation. ComEd entered into a $200 million deferred prosecution agreement with the U.S. Attorney's Office for the Northern District of Illinois. The agreement required ComEd to cooperate with ongoing investigations and maintain a compliance program. In 2024, the deferred prosecution agreement expired without charges being filed, as ComEd had complied with all terms. Four individuals, including former ComEd executives and lobbyists, were indicted in connection with the scheme. Michael Madigan was convicted on corruption charges in 2024.

In January 2026, ComEd filed a $15.3 billion four-year grid plan with the Illinois Commerce Commission, covering 2028 to 2031. The plan proposed rate increases of $2.50 to $3 per month for residential customers starting in 2028. Consumer advocates, including the Citizens Utility Board (CUB), pushed back against the filing, arguing that the costs were excessive and would burden ratepayers. The ICC began an 11-month review process.

In December 2025, the ICC approved a $243 million rate increase for ComEd, raising average residential bills by approximately $3 per month. The increase was smaller than ComEd's original request, as consumer advocates successfully argued for reduced returns.

Illinois Attorney General Kwame Raoul filed a complaint with the Federal Energy Regulatory Commission (FERC) in 2025 seeking to reduce electricity capacity prices that were scheduled to increase substantially for ComEd customers on June 1, 2025. The complaint targeted capacity market prices set by PJM Interconnection, which ComEd passes through to customers.

The Attorney General's office also filed objections to ComEd's proposed transmission service agreements with data center developers in 2025, arguing that the agreements failed to adequately insulate residential ratepayers from the costs of serving large data center loads.

ComEd Ownership: Pros & Cons

Advantages

+Exelon's financial resources support large-scale grid modernization investments that ComEd could not fund independently
+Regulated utility model provides stable, predictable revenue through ICC-approved rate structures
+Shared services across six Exelon subsidiaries reduce per-customer operating costs
+Smart grid investments have reduced outage frequency by approximately 80% over a decade
+Access to Exelon's regulatory expertise and lobbying infrastructure for navigating Illinois energy policy

Considerations

-The 2020 corruption scandal involving former House Speaker Madigan damaged public trust and resulted in a $200 million fine
-Rate increases in 2025 and proposed increases in the 2026 grid plan have drawn consumer opposition
-Regulated monopoly status means no competitive pressure to innovate beyond ICC requirements
-Dependency on ICC rate decisions limits financial flexibility and capital allocation autonomy
-Growing data center electricity demand may shift infrastructure costs to residential ratepayers

Frequently Asked Questions About ComEd

Sources & Further Reading

Competitors to ComEd

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Alabama Power	Southern Company	USA	1906	Mass market	United states	All-ages
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