Exelon has completed its separation from spin-off company Constellation Energy Corp., announced a year ago as the new home for a fleet of nuclear reactors, according to a Tuesday press release.
Exelon will continue its electricity utility and distribution business, the company said in the Tuesday press release. The Constellation spinoff will oversee the nuclear, hydroelectric, wind, solar and natural gas assets formerly owned by Exelon, as announced in February 2021.
Among the 17 nuclear power plants now in Constellation’s portfolio are three decommissioning sites: Zion in Illinois, and Peach Bottom and Three Mile Island’s Unit 1 reactor in Pennsylvania. NRC approved the plants’ license transfer in November.
Nuclear power should be an important part of Constellation’s business, company executives have said. In a January call with investors, the company’s chief strategy officer Kathleen Barrón said that expanding renewable energy without including nuclear is like “running in place.”
“I think we all understand our 24/7 emissions free power plants are not a melting ice cube,” Constellation CEO Joe Dominguez said during the call. “They are not the climate problem — they’re a big part of the climate solution.”
