Exelon Weighs $8B Storage Expansion for PJM — SkimNews
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- Exelon identified $3 billion to $7 billion in potential spending on 1.5 GW to 3.5 GW of regulated energy storage in New Jersey, Maryland and Delaware, where utility ownership gives the company greater certainty of construction and control over deployment.
- Atlantic City Electric and Invenergy developed a proposed $1 billion, 500-MW New Jersey battery that would be the largest installation in PJM and is expected to provide more than $700 million in net benefits to customers.
- New Jersey Board of Public Utilities is expected to decide on the Atlantic City Electric proposal late in the first quarter next year.
- PJM Interconnection has not moved fast enough to add generation, the biggest issue facing consumers in its Mid-Atlantic and Midwest footprint; partial Federal Energy Regulatory Commission approvals have delayed the backstop capacity procurement and Interim Resource Adequacy Service proposals.
- Exelon plans $16.3 billion of transmission investment through 2029 and sees $12 billion to $17 billion in additional transmission opportunities beyond that capital plan, including infrastructure for large loads.
- ComEd represents 9 GW of Exelon's unchanged 11 GW of high-probability large-load additions, with the other 2 GW in the Mid-Atlantic; Exelon's future pipeline declined to 23 GW from 25 GW, including 14 GW at ComEd and 9 GW in the Mid-Atlantic.
- Exelon reported third-quarter income of $729 million, down from $875 million, while revenue rose to $7.3 billion from $6.7 billion and, excluding one-time factors, adjusted income edged to 87 cents from 86 cents; Jefferies called the results favorable but warned 2027 regulatory uncertainty could offset incremental earnings from new capital expenditures.
Why it matters: For PJM customers, Exelon's strategy centers on dispatchable capacity while PJM's two procurement initiatives remain delayed: Exelon projects more than $700 million in net benefits from the 500-MW Atlantic City Electric project, and says tax-credit flow-through and lower capacity prices would limit rate pressure.
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