Dive Brief:
Exelon will divide its utility holdings and generation assets into two specialized companies beginning in 2022, company leadership announced on Wednesday.
"RemainCo," as CEO Chris Crane termed the company that will be made up of Exelon's regulated utility business, will operate across seven jurisdictions and "provide platforms to enable a transition to a clean energy economy without owning the generation," he told investors during a Wednesday earnings call. "SpinCo" will assume management of a coal-free generation portfolio to become "America's clean energy leader," Crane said.
Exelon is the latest in a series of utilities that have spun off generation assets to conform to current market expectations and investment trends, according to Edward Jones senior analyst Mike Doyle.