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Exelon is adjusting its capital spending plan to lower its utility expenses next year by $350 million in an effort to help keep electric bills as low as possible, company officials said Wednesday.
“As we adjust our plan to reflect current realities, we are also leaning into areas where we see strong visibility and clear need, most notably in transmission,” Calvin Butler, Exelon president and CEO, said during an earnings conference call.
Exelon now expects its transmission rate base will grow by 16% a year through 2029, according to Jeanne Jones, Exelon executive vice president and chief financial officer, audit and risk.
“The need for additional transmission infrastructure is real, and we are witnessing this growth firsthand, driven by reliability requirements and large load interconnections,” Jones said.
