Earnings Preview: Exelon To Post 3Q Results

MARK WILLIAMS

COLUMBUS, Ohio (AP) — Power company Exelon Corp. is scheduled to report third-quarter earnings on Friday. The following is a summary of key developments and analysis related to the period.

OVERVIEW: Chicago-based Exelon is one of the nation's leading power generators and the top generator of electricity from nuclear plants in the U.S.

Like other utilities and power generators in the U.S., Exelon has been hurt by weak demand for power because of the recession and a cool summer in much of the country.

The Energy Information Administration has projected a 3.3 percent decline in electricity consumption this year with industrial demand especially weak. The agency says the rate of decline is expected to slow in the second half of 2009 and then pick up in 2010 as the economy improves.

To deal with the downturn, many utilities have cut spending. Exelon announced reductions in June that will achieve $350 million in operations and maintenance savings in 2010, a 3.5 percent cut. The company said 500 jobs will be eliminated.