
PECO Energy Company is owned by Exelon Corporation (NASDAQ: EXC), a publicly traded utility holding company headquartered in Chicago, Illinois. PECO serves 1.7 million electric and 600,000 natural gas customers across southeastern Pennsylvania, including Philadelphia. Exelon acquired PECO in 2000 through its merger with Unicom Corporation. PECO is headquartered at 2301 Market Street, Philadelphia, Pennsylvania.
Parent Company
Acquired
2000
Status
Publicly Traded
Headquarters
| Brand | Parent Company | Ownership Type |
|---|---|---|
| PECO Energy Company | Exelon Corporation | Subsidiary |
PECO's origins trace back to 1881, when the Philadelphia Electric Company was established to provide electric lighting to Philadelphia. The company was formally incorporated in 1929. Over the following decades, Philadelphia Electric grew into one of the largest electric utilities in the eastern United States, serving the Philadelphia metropolitan area and surrounding counties.
In the late 20th century, the utility industry underwent significant deregulation. The Energy Policy Act of 1992 opened the door to competition in wholesale electricity markets. Pennsylvania enacted electricity generation customer choice legislation in 1996, restructuring the state's electric utility industry. Philadelphia Electric Company rebranded as PECO Energy Company during this period.
In 2000, PECO Energy Company merged with Unicom Corporation, the parent of Commonwealth Edison Company in Chicago. The merger created Exelon Corporation, a new holding company that combined two of the largest electric utilities in the United States. The all-stock merger valued at approximately $12 billion created a company serving approximately 5 million customers across Illinois and Pennsylvania at the time.
Under Exelon's ownership, PECO invested heavily in infrastructure modernization. The company deployed advanced metering infrastructure to its electric and gas customers, installed smart grid technology, and implemented distribution automation systems. PECO also invested in vegetation management and storm hardening to improve reliability during extreme weather events.
In 2011, Exelon announced a plan to merge with Constellation Energy, a deal that closed in March 2012. This merger brought Baltimore Gas and Electric (BGE) into the Exelon family. Later, in March 2016, Exelon completed its acquisition of Pepco Holdings, adding Pepco, Delmarva Power, and Atlantic City Electric to its portfolio. These acquisitions expanded Exelon's footprint but did not change PECO's operational scope.
In 2022, Exelon separated its generation business (Constellation Energy) from its regulated utility business. Exelon became a pure-play transmission and distribution utility holding company. This separation meant that PECO no longer had an affiliated generation arm, and all electricity supplied to PECO customers is procured through competitive wholesale markets.
PECO closed its Customer Solution Center at 23rd and Market Streets in Philadelphia on August 29, 2025. The closure was part of a shift toward digital and telephone customer service channels. PECO stated that in-person usage at the center had been limited, with hours reduced to 10:00 AM to 2:00 PM on weekdays since reopening after the COVID-19 pandemic.
PECO's electric service territory covers 1,900 square miles and includes the City of Philadelphia, Delaware County, most of Bucks, Chester, and Montgomery counties, and a portion of York County. The natural gas service territory covers 1,900 square miles and includes Delaware County, most of Bucks, Chester, and Montgomery counties, and a small portion of Lancaster County. The total service territory spans 2,100 square miles.
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.
PECO operates under Exelon Corporation's sustainability framework. Exelon has committed to achieving net zero emissions by 2050. The company's sustainability goals include reducing greenhouse gas emissions from its operations and supporting the clean energy transition in the communities it serves.
PECO has invested in grid modernization to support the integration of renewable energy resources. The company's advanced metering infrastructure enables better energy management and supports distributed energy resources including rooftop solar. PECO offers interconnection services and net metering programs for residential and commercial solar installations.
PECO operates energy efficiency programs that help customers reduce energy consumption. These programs include rebates for energy-efficient appliances, weatherization assistance for low-income households, and commercial energy audits. The programs are funded through ratepayer charges approved by the Pennsylvania PUC.
PECO has invested in modernizing its natural gas infrastructure to reduce methane emissions. The company has a pipeline replacement program that targets aging cast iron and bare steel mains. This program improves safety and reduces fugitive methane emissions from the distribution system.
PECO does not carry independent sustainability certifications such as B Corp status or LEED certification. The company's environmental performance is regulated by the Pennsylvania Department of Environmental Protection and the federal Environmental Protection Agency.
PECO has faced scrutiny over service reliability during major storms. Severe weather events including hurricanes, winter storms, and thunderstorms cause widespread power outages in the company's service territory. PECO has invested in storm hardening and vegetation management to improve resilience. However, extreme weather events continue to challenge service reliability, and customer complaints about outage duration and communication are common during major storms.
PECO has faced opposition in rate cases before the Pennsylvania Public Utility Commission. Consumer advocacy groups have challenged PECO's rate proposals, arguing that costs for infrastructure investments should be borne by shareholders rather than customers. These rate cases are a standard part of regulated utility operations but generate public attention when rate increases are proposed.
Like all natural gas utilities, PECO faces scrutiny over pipeline safety and methane emissions. The company's pipeline replacement program addresses aging infrastructure, but environmental groups continue to monitor natural gas operations. PECO is required to report pipeline incidents to the Pipeline and Hazardous Materials Safety Administration (PHMSA).
PECO has faced pressure from environmental groups to accelerate the transition away from natural gas. Climate advocates argue that continued investment in natural gas infrastructure is inconsistent with Pennsylvania's clean energy goals. PECO maintains that natural gas remains essential for reliability and affordability during the transition to cleaner energy sources.
In 2025, PECO closed its Customer Solution Center in Philadelphia, ending in-person bill payment and customer service at its headquarters location. The closure drew some criticism from customers who preferred in-person service, particularly elderly and low-income customers. PECO stated that all services remain available through online tools, telephone, and alternative payment locations.
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| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Exelon | USA | 1816 | Mass market | United states | All-ages | |
| Southern Company | USA | 1906 | Mass market | United states | All-ages | |
| Southern Company | USA | 1856 | Mass market | United states | All-ages | |
| Iberdrola | USA | 2015 | Mass market | United states | Unisex | |
| Cms Energy | USA | 1987 | Mass market | United states | All-ages | |
| Exelon | USA | 1924 | Mass market | United states | All-ages |
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Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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