Exelon Targets $6.9 Billion in T&D Capex for 2022

Researched by Industrial Info Resources (Sugar Land, Texas)--Exelon Corporation (NASDAQ:EXC) (Chicago, Illinois), the self-described largest transmission and distribution (T&D) utility in the U.S., is on track to meet its $6.9 billion capital investment goal for this year, company executives said this week.

Exelon, which completed the separation from Constellation Energy Corporation (Baltimore, Maryland)--its former power generation and competitive energy business--this year, has targeted $29 billion in T&D capital expenditures from 2022 to 2025 to meet customer growth.

Exelon serves 10 million customers in the U.S., and includes six T&D-only utilities. Its areas of service include four major metropolitan areas: Chicago, Illinois; Philadelphia, Pennsylvania; Baltimore, Maryland, and Washington, D.C. For first-quarter 2022, the company reported $634 million in adjusted operating earnings, compared with $542 million in first-quarter 2021.

During the company's first-quarter earnings conference call on Monday, Chief Financial Officer Joseph Nigro highlighted the upgrade of the 230-kilovolt (kV) Harvard Substation in the District of Columbia by Exelon's subsidiary, Pepco (Washington). The project, now under construction, "will renovate ageing infrastructure originally installed over a century ago to improve the grid reliability and resiliency," he said, adding it will expand regional transmission capacity to support future load growth in the region. Completion is expected in 2023. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can click here for the related project report.

Nigro noted the Harvard substation upgrade and rebuild is part of a larger capital initiative. Industrial Info is tracking 10 projects tied to the District of Columbia 230-kV Capital Grid Project, worth $881 million. Related projects include the:

• District of Columbia 230-kV Mount Vernon Substation, a new indoor distribution substation with a planned completion date at the end of 2023.
• District of Columbia 230-kV Champlain Substation Upgrade, which involves rebuilding the existing indoor distribution substation to improve reliability, with a planned completion in 2026.
• Prince Georges 230-kV Takoma Substation Upgrade in Chillium, Maryland, which will install new transformers and associated equipment to improve reliability and support future load growth, with completion planned for fourth-quarter 2022.

Subscribers can click here for the Mount Vernon Substation project report, here for the Champlain Substation Upgrade and here for the Prince Georges Takoma Substation Upgrade.

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