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Exelon Unveils Roadmap to Eliminate Equivalent of Current Annual Carbon Footprint by 2020

2008-07-15 09:22:00

Nation’s largest electric and gas

utility outlines roadmap to reduce, displace or offset 15 million metric

tons of greenhouse gas emissions annually by 2020 –

the equivalent of taking 3 million cars off the road

CHICAGO–(EMWNews)–Exelon Corporation today unveiled a comprehensive environmental plan

that sets the standard for environmental action by a major U.S. energy

utility. Called Exelon 2020: A Low-Carbon Roadmap, the plan

details an enterprise-wide approach and host of initiatives being

pursued by the Exelon family of companies to reduce Exelons

greenhouse gas (GHG) emissions and those of its customers, communities,

suppliers and markets.

The science is overwhelming

climate change is happening now and human activity is the primary cause,

said John W. Rowe, Exelon chairman, president and CEO. As

an early member of the U.S. EPA Climate Leaders Program, Exelon has

already embraced a low-carbon strategy. Now, under Exelon 2020, we are

committing to a much broader, deeper and sustained effort that will

drive our business activities going forward.

Exelon 2020 sets a goal of reducing, offsetting or displacing more than

15 million metric tons of greenhouse gas emissions (in carbon

dioxide-equivalent terms) per year by 2020. This is more than the companys

current annual carbon footprint and is equivalent to taking nearly 3

million cars off American roads and highways.

Through Exelon 2020, Exelon is pursuing three broad strategies:

  • Reduce or offset Exelons own carbon

    footprint by reducing our energy consumption and operating

    to the highest environmental standards in every aspect of our internal

    operations and supply chain.

  • Help our customers and the communities we serve reduce their

    greenhouse gas emissions through industry-leading energy

    efficiency programs and a diverse portfolio of green products and

    services.

  • Offer more low-carbon electricity in the marketplace by

    expanding the capacity of our existing low-carbon generation fleet and

    introducing new low-carbon capacity. This will allow Exelon to

    displace other, higher-emitting sources of generation and thereby

    reduce overall emissions in the regions where we operate.

Appropriate public policies are crucial to the success of Exelon 2020.

The Exelon companies will continue to advocate for effective federal

climate change legislation, workable competitive wholesale markets,

federal loan guarantees for new nuclear capacity development, stricter

energy efficiency standards, workable renewable resource mandates, R&D

funding for renewables and standard practices for offsets.

Without sound, substantial, appropriate and

enabling public policy at the federal, regional and state levels, our

industry and our society will not be able to address the climate change

challenge as quickly, effectively and economically as is required,

Rowe noted.

A sampling of programs under Exelon 2020 includes:

  • An initiative to reduce energy consumption across our portfolio of

    buildings by 25 percent.

  • An effort to engage suppliers on environmental initiatives and seek

    voluntary disclosures of their GHG emissions and energy consumption.

    Exelon was the first North American utility to join the Carbon

    Disclosure Projects Supply Leadership

    Collaboration, and is leading an industry alliance that will set

    environmental standards for suppliers to utilities.

  • The implementation of a $250 million, three-year energy efficiency

    plan by ComEd and the Illinois Department of Commerce and Economic

    Opportunity. In accordance with 2007 Illinois energy legislation, the

    program targets residential and commercial energy savings through

    more-efficient lighting, heating and cooling, appliance recycling,

    weatherization and energy audits. In Pennsylvania, PECO is working

    with policymakers to craft a similar plan that would reduce overall

    electricity consumption as part of the states

    new energy policy.

  • An expansion of green product and service offerings to wholesale and

    retail customers.

  • The potential development by Exelon Power of a 600-megawatt

    combined-cycle natural gas power plant in Pennsylvania that will

    displace higher-emitting generation.

  • The growth of our portfolio of solar, wind, biomass and landfill-gas

    generation.

The American utility industry accounts for about 40 percent of all

greenhouse gas emissions in the U.S. Exelon was one of the first

companies in the utility sector to publicly recognize the threat posed

by global warming and is a member of the U.S. EPAs

Climate Leaders Program. In 2005, the company made a voluntary

commitment under the Climate Leaders Program to reduce our greenhouse

gas emissions 8 percent from 2001 levels by the end of 2008 and is on

track to exceed that goal. Exelons

environmental performance has secured its place on the Dow Jones

Sustainability North America Index since 2006 and Carbon Disclosure

Project Climate Disclosure Leadership Index since 2005. In 2007, Exelon

was the top-ranked utility in the Leadership Index.

Exelon 2020: A Low Carbon Roadmap is available at www.exeloncorp.com.

Exelon Corporation is one of the nations

largest electric utilities with nearly $19 billion in annual revenues.

The company has one of the industrys

largest portfolios of electricity generation capacity, with a nationwide

reach and strong positions in the Midwest and Mid-Atlantic. Exelon

distributes electricity to approximately 5.4 million customers in

northern Illinois and Pennsylvania and natural gas to 480,000 customers

in the Philadelphia area. Exelon is headquartered in Chicago and

trades on the NYSE under the ticker EXC.

This news release includes forward-looking statements within the

meaning of the Private Securities Litigation Reform Act of 1995, that

are subject to risks and uncertainties. The factors that could cause

actual results to differ materially from these forward-looking

statements include those discussed herein as well as those discussed in

(1) Exelon’s 2007 Annual Report on Form 10-K in (a) ITEM 1A. Risk

Factors, (b) ITEM 7. Management’s Discussion and Analysis of Financial

Condition and Results of Operations and (c) ITEM 8. Financial Statements

and Supplementary Data: Note 19; (2) Exelon’s First Quarter 2008

Quarterly Report on Form 10-Q (to be filed on April 24, 2008) in (a)

Part II, Other Information, ITEM 1A. Risk Factors and (b) Part I,

Financial Information, ITEM 1. Financial Statements: Note 13; and (3)

other factors discussed in filings with the Securities and Exchange

Commission by Exelon Corporation, Exelon Generation Company, LLC,

Commonwealth Edison Company, and PECO Energy Company (Companies).

Readers are cautioned not to place undue reliance on these

forward-looking statements, which apply only as of the date of this

presentation. None of the Companies undertakes any obligation to

publicly release any revision to its forward-looking statements to

reflect events or circumstances after the date of this news release.

Exelon Corporation
Kathleen Cantillon
Corporate Communications
312-394-7417

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