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“We are committed to a clean and secure energy supply at the lowest cost to the communities and customers we serve and the markets in which we operate,” John W. Rowe, chairman and CEO of Exelon said in the statement. “Exelon 2020 is a roadmap for advancing market-driven innovation and economic options.”

Exelon’s plan to invest nearly $5 billion between 2010 and 2015 in local and state economies should result in new orders for equipment and material, contracts for engineering and construction work, and agreements for technical and professional service. The investment plan aims to support thousands of jobs at Exelon and over 5,000 of its suppliers.

“A clean energy portfolio, based on sound economics, creates compelling value and provides a clear competitive advantage,” said Rowe. “Our Exelon 2020 analysis tells us which actions will provide our customers with clean, reliable and secure power in the most cost-effective manner, while also providing high returns for our shareholders.”

Exelon is halfway to reaching its goal of eliminating the amount of its 2001 carbon footprint by displacing, reducing, and offsetting greenhouse gas emissions in excess of 15 million metric tons per year by 2020. Getting to the halfway mark is similar to removing 1.5 million cars from the road each year.

Key initiatives included under Exelon 2020:

Energy-efficiency programs for customers of PECO and ComEd as well as within Exelon’s operations, including reducing energy use at facilities of the company by 23 percent, growing the output of Exelon’s zero-emission nuclear plants by 100 MW since 2008, plus more future uprates in scheduled investments in renewable energies, including buying a $900 million, John Deere 735 MW wind operation, and constructing a solar plant with 10 MW output on Chicago’s South Side Smart Grid initiatives in Chicago and Philadelphia, created to give information and tools to customers to better manage their energy usage, starting with a rollout of 720,000 smart meters, and retiring four inefficient, carbon-intensive fossil fuel units in Pennsylvania whose combined capacity exceeds 933 MW.

“With its Exelon 2020 strategy, Exelon has staked out a position as an industry leader in addressing climate change,” Mindy S. Lubber, president of Ceres, a coalition of investors, environmental groups and other public interest organizations focused on sustainability challenges, said in the statement. “The company has shown that it is economically feasible to make major clean energy investments that have a real, tangible impact on greenhouse gas emissions, and we encourage other utilities to follow suit.”

Within the Exelon 2020 roadmap, the company is conducting yearly analyses of the most cost-efficient ways to lower carbon emissions and the carbon prices required to make the projects economically viable. In 2010, Exelon expanded its analyses to include a wider perspective on possible industry response, especially as upcoming EPA rules are intended to dramatically cut air pollution from power plants. The analysis determined that participants in the 13-state mid-Atlantic power market in which Exelon operates, known as PJM, can remove around 60 million metric tons of carbon emissions per year with energy efficiency, coal plant retirements, new natural gas generation and nuclear uprates.

“The question facing the United States is not whether it should reduce air pollution and carbon emissions, but how to do so affordably, especially in light of current economic conditions,” said Rowe. “The pending suite of EPA regulations will help drive the transition to a cleaner energy future.”

A full 2010 update on the Exelon 2020 business and environmental strategy, including the analysis of the PJM, is available at exeloncorp.com.

Exelon Corporation is one of the United States’ largest electric utilities with annual revenues of more than $17 billion. The corporation maintains one of the largest portfolios of electricity generation capacity in the industry. Their reach is nationwide, and they hold strong positions in the Midwest and Mid-Atlantic. Exelon distributes electric power to roughly 5.4 million clients in northern Illinois and southeastern Pennsylvania and natural gas to about 486,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.

Forward Looking Statements

Exelon’s press release included 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 2009 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 Operation and (c) ITEM 8. Financial Statements and Supplementary Data: Note 18; (2) Exelon’s Third Quarter 2010 Quarterly Report on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors, (b) Part I, Financial Information, Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 13; and (3) other factors discussed in filings with the Securities and Exchange Commission by the Registrant. Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this Current Report. The Registrants do not undertake any obligation to publicly release any revision to their forward-looking statements to reflect events or circumstances after the date of this press release.

SOURCE: Exelon Corporation

Over 1,500 delegates and representatives from more than 80 states, provinces and countries attended the conference, whose theme was “Building the Green Economy.”

Promo Flyer for GGCS3

One of the biggest meetings of regional leaders from around the globe focused on solutions for the climate, the summit planners hope to continue expanding their network of domestic and international cooperatives. California Governor Arnold Schwarzenegger said that participants share strategies and policies about growing green economies, reduce fossil fuel dependence, create green jobs, promote clean energy solutions and reduce greenhouse gas pollution.

“I am honored to welcome so many leaders, experts and attendees from all over the world to our third annual Governors’ Global Climate Summit at one of California’s world-renowned universities — UC Davis,” Schwarzenegger said.

“With or without international agreements, the green revolution is moving full-speed ahead in states, regions and provinces. I have seen the power these regional governments carry in influencing and creating the new ideas that spur clean innovation, reduce emissions and create jobs, and this summit is an incredible opportunity to build on our subnational successes,” he added.

“Together, we are ushering in a cleaner, brighter and more prosperous future that we can be proud to pass on to the next generation.”

Furthering the achievements of the GGCS in 2008 and 2009, the 2010 conference brought together leaders from all over the Earth to work together on protecting the environment. The event producers are trying to promote the global war against climate change through unified actions which reduce emissions and build a clean energy green economy.

The summit hosted climate dialogues from top leaders of local, regional, national and international groups, and included academics, businesspeople and non-profit organizations.

Different regions throughout the world will be served by the forum by learning the best practices, brain share and work to extend shared interests by better understanding each other’s unique environmental and economic realities.

The conference also paves the way for nations and provinces to join-up with and influence the positions of their state governments ahead of the UN conference in Cancun, Mexico, later this year.

The UN Development Program and the UN Environment Program was a partner in the event and UC Davis co-sponsored it. The summit was co-hosted by Schwarzenegger, Michigan Governor Jennifer M. Granholm, Washington Governor Chris Gregoire, Wisconsin Governor Jim Doyle and Oregon Governor Ted Kulongoski.

“The clean energy path leads to millions of jobs, less reliance on fossil fuels and reduced greenhouse gases,” said Michigan Governor Granholm. “This summit is an opportunity to share with the world how we’re building a clean energy economy in Michigan as well as to learn from the experience of others.”

“In Wisconsin, we have no natural gas, no coal, and no oil,” said Wisconsin Governor Doyle. “Capturing even a fraction of the 16 billion U.S. dollars, our state spending on energy would mean billions of dollars in economic growth and job creation.”

“We’ve been really focused on building on our strengths in innovation and business to create real jobs in the clean energy economy, and as a result of our policies and investments, Wisconsin has seen a rapid expansion in renewable energy production and real growth in clean energy jobs,” Doyle added.

“Addressing climate change is critical to our global economic and environmental future,” said Oregon Governor Kulongoski. “One state, one nation cannot work in isolation. We must make regional, national and international commitments to reducing greenhouse gas emissions, transitioning to clean sources of fuel, and investing in the research and technology to move toward an energy independent universe.”

The summit took place at UC Davis to make the most of the university’s highly established track record of world-class research and development in environmental sustainability and green jobs.

UC Davis’ academic research, expertise and collaborative approach provide solutions to government, industry and advocates since decades on matters ranging from energy efficiency and biofuels to sustainable agriculture and health solutions for rural and developing communities.

“The politics of climate change have challenged science, so it is critical that universities like UC Davis — with 21st-century research and development units — uncover and deliver the facts so that the world’s opinions can flow from there,” said UC Davis Chancellor Linda P.B. Katehi.

“We are showing the way in research, innovation, stewardship and sustainability because we believe in those principles,” she added.

TheDailyDose.com's take on the Summer 2010 BP Oil Spill

Some oil companies, such as Chevron, claim that this is an isolated incident caused by a sloppy company, with its damages confined to the gulf states. But it is a symptom of true national crisis—a crisis caused by our oil dependence and our unwillingness to release a national economy held hostage by fossil fuels. This manmade disaster underscores the harsh consequences of delay in addressing our currently unsustainable energy and economic development path.

The current crisis demands that we do far more than protect communities in the Gulf of Mexico. As President Barack Obama himself has said, we must “make certain a spill like this never happens again.” Our national response must drive a sustained effort to reduce our dependence on fossil fuels. We must target the structural causes of our vulnerability to oil in an effort to rebuild and strengthen our national economy while restoring the economic health of oil-dependent regions.

The debate about the BP oil disaster has so far focused largely on how to keep drilling more safely—as if oil is the oxygen in the very air we breathe. But there are alternatives: alternatives to oil, and alternatives to the stranglehold that fossil fuels have on the American economy. Public support for these alternatives grows with each new barrel of oil flowing into the gulf. It is high time for Congress and the Obama administration to step up and heed this call to action.

The Obama administration’s efforts to manage the oil spill have so far been pragmatic and transparent. What America needs now is for the president and Congress to make a bold commitment to lead our country out of BP’s oil spill mess and away from the dirty energy sources that caused it, and toward a profitable and powerful clean energy future.

Cleaning up and rebuilding the gulf will take much long-term strategic thinking and planning, but this should not come at the expense of immediate action. BP cannot and should not be trusted to manage the real-time information and data that will inform the rebuilding because their interests are inherently not aligned with those of the American people. The Obama administration must take the reins, deploy the military in playing a leadership role in the cleanup, keep BP on the financial hook, and give the American people an accurate picture of what is happening on the ground.

President Obama must deliver on his core campaign promise of accountability and transparency like he did with his leadership in passing the American Recovery and Reinvestment Act of 2009. The president should establish an independent Gulf Recovery Oversight Board to manage the cleanup and recovery efforts and make the information and data associated with them accessible to the public via GulfRecovery.gov. This type of bold action will send the message that this type of disaster cannot and will not happen again.

Building a clean energy strategy will not be easy and the president cannot do it alone. Congress has made significant advances in laying out serious legislative proposals over the past year that offer concrete proposals, not only for reigning in our carbon emissions, but also for getting off fossil fuels and rebuilding our economy on the firm foundation of energy innovation. Yet Congress is only one step into a truly comprehensive strategy to build a clean energy economy.

If we are to turn the BP oil disaster into economic opportunity and reduce our strategic vulnerability to fossil fuel dependence, the president and Congress must see this crisis in its true light. It is not a crisis caused only by BP or even by our oil dependence alone. It is a disaster borne from an economic strategy that is based on dwindling and dangerous fossil fuels. There is a path out of this mess:

• We must better regulate oil while moving the country beyond our dependence on oil.
• We must aggressively invest in alternative energy technologies, including energy efficiency programs.
• And we must finally cap and price carbon pollution, meeting the global commitment to bring carbon emissions down to at least 17 percent below 2005 emissions by 2020.

These efforts, taken together, can propel the United States along the path to ending oil dependence, rebuilding our economy on a low-carbon foundation, and meeting the climate pollution reduction targets outlined in House and Senate legislation, even in the absence of a congressionally authorized carbon trading system. And it will preserve and enhance clean air and clean water for our children and their children.

We are at a time unlike any other in history. The president, Congress, and the American people must think big and realize that the 21st century economy will not be powered by the same 20th century engines. We need a strategy that will get us back to work, wean us off dirty energy from hostile nations, bring health and economic benefits to countless Americans, and drive the long-term American prosperity and strength to which we are accustomed. We need a clean energy future, and we need to start building it now.