Exelon Reports Gross Margin From Planned New Electric Sales Executed In Q1
May 02,2019
In reporting earnings today, Exelon reported that during the first quarter of 2019 it executed $150 million in "Power New Business" gross margin for 2019, and $50 million for each of 2020 and 2021.
Power New Business includes retail and wholesale planned electric sales, portfolio management new business and mid marketing new business
Exelon's Generation segment (which includes competitive retail) reported that its first quarter of 2019 GAAP Net Income increased to $363 million from $136 million in the first
quarter of 2018. Generation’s Adjusted (non-GAAP) Operating Earnings for the first quarter of 2019 decreased
to $294 million from $474 million in the first quarter of 2018, primarily due to lower realized energy prices
and the absence of the revenue recognized in the first quarter of 2018 related to ZECs generated in Illinois
from June through December 2017, partially offset by increased capacity prices.