Exelon affirms outlook after PECO withdrawal, Maryland bill

Exelon (EXC) disclosed that its subsidiary PECO Energy filed a petition with the Pennsylvania Public Utility Commission to withdraw its previously filed electric and gas rate proceedings submitted on March 30. In addition, on April 13, the Maryland Utility RELIEF Act was passed through the Maryland General Assembly and awaits the Governor’s signature to become law, the company added. “If and when the Utility RELIEF Act becomes law, it will modify Maryland’s regulatory framework and rules governing recovery of certain costs in utility ratemaking for Baltimore Gas & Electric Company, Potomac Electric Power Company, and Delmarva Power & Light Company, all subsidiaries of Exelon.” In response to the developments, Exelon said it will redeploy and implement delays in capital projects and execute operational efficiencies. Exelon reaffirms its previously disclosed 2026 adjusted operating earnings guidance range of $2.81-$2.91 and reaffirms its previously disclosed expectation for cumulative annualized adjusted operating earnings growth from 2025 to 2029 to be near the top end of the 5%-7% range.