Investment Thesis
Exelon is the largest U.S. regulated electric and gas utility serving major metropolitan areas. Grid modernization, electrification, and constructive rate plans support 6-8% EPS CAGR.
- Urban Footprint: Chicago, Philadelphia, Baltimore, DC service territories with load resilience.
- Smart Grid: Advanced metering and automation improve reliability and DER integration.
- Balance Sheet: Post Constellation spin-off leaves a pure-play regulated utility.