- Exelon (EXC, Financial) launches a $50 million Customer Relief Fund for low- and middle-income customers amid rising energy costs.
- Relief will be administered through partnerships with trusted local nonprofits associated with Exelon's energy subsidiaries.
- The initiative represents a one-time charitable contribution aimed at providing economic relief to affected customers this summer.
Exelon Corporation (EXC), one of the leading utility companies in the United States, has announced the introduction of a $50 million Customer Relief Fund. This initiative aims to assist low- and middle-income customers dealing with heightened energy supply costs during the summer months. Exelon’s local energy subsidiaries—Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO, and Pepco—will collaborate with established local nonprofits to facilitate the distribution of this relief effort.
Beginning in July, customers in regions served by Atlantic City Electric, BGE, ComEd, Delmarva Power, and Pepco can apply for relief, while PECO customers in the Philadelphia area will have the opportunity to apply in August. The relief provided could amount to several hundred dollars per qualifying customer, offering significant financial alleviation for those most impacted by energy cost increases.
This one-time program is part of Exelon’s broader strategy to support customers in managing energy costs. The company's efforts include energy efficiency initiatives, engagement with government bodies to create additional relief programs, and offering budget billing and flexible payment options. Additionally, Exelon's ongoing dedication to enhancing energy affordability and reliability has resulted in customer rates that are reportedly 21% lower than those in major U.S. cities, coupled with a 35% improvement in service reliability due to substantial grid investments.
Through this initiative and its broader suite of support programs, Exelon remains committed to providing reliable, affordable, and sustainable energy solutions while addressing the immediate needs of its customer base during periods of economic strain.
