Exelon Corporation (NYSE: EXC) is an electricity generating and distributing company headquartered in the Chase Tower in the Chicago Loop area of Chicago.[2] It was created in October, 2000 by the merger of PECO Energy Company and Unicom, of Philadelphia and Chicago respectively. Unicom owned Commonwealth Edison. Exelon has 5.4 million electricity customers and serves 485,000 natural gas customers in the Philadelphia suburbs. It is "the country's No. 2 nuclear company."[3]
In October, 2009 Exelon had full or majority ownership of 17 nuclear reactors in 10 nuclear power plants.[4]
On June 30, 2005 the Federal Energy Regulatory Commission approved the merger of Exelon and Public Service Enterprise Group Inc., a New Jersey utility. Under this merger, Exelon would have become the largest utility in the United States.[5] The two companies later broke off the agreement[6] due to pressure put on the NJ Board of Public Utilities by public interest groups, including New Jersey Citizen Action.[7] The merger sat pending in front of the NJBPU for nineteen months before Exelon concluded that they were fighting a losing battle.
CHICAGO – (June 30, 2008) – In its sixth annual “Best Places to Work in IT” edition, Computerworld ranked Exelon as the 70th overall best company in the United States and 35th amongst large companies (10,000 or more employees).
Computerworld’s list is an annual ranking of the top 100 work environments for technology professionals compiled by IDG’s Computerworld, the “Voice of IT Management.” The lists are compiled based on a comprehensive questionnaire regarding company offerings in categories such as benefits, diversity, career development, training and retention.
“Exelon Corporation is honored to be recognized by Computerworld as one of the best places to work in IT,” said Dan Hill, senior vice president and CIO, Exelon Corporation. “This acknowledgement highlights our commitment to employee diversity, development and retention. Our goal is to instill best business practices into all facets of our organization. We have strived to create an environment in which employees are motivated and excited to contribute and innovate, and I think the survey results reflect that goal.”
Computerworld conducts extensive surveys of IT workers whose responses factor heavily in determining the rankings. Other criteria taken into account to determine finalists included company rewards; mentoring and advancement programs; corporate-employee recognition; employee flexibility; average salary increases; percent of staff promoted; turnover rates and the percentage of women and minority staff in management in IT departments.
Exelon has more than 600 IT employees and has consistently been recognized for operational excellence and client focus. In the Computerworld article, Exelon was commended for their diverse staff, exceptional benefits and compensation, and the unparalleled opportunities for employee development, advancement and rotation.
"Being among the Best Places to Work in IT means crafting a blend of employee advantages that includes the potential for flexible hours, competitive pay, excellent benefits, a supportive leadership environment, opportunities for ongoing training and advancement, and ultimately, the feeling that you'd like to stay with the company a long, long time,” said Scot Finnie, editor-in-chief of Computerworld.
Oversee management’s monitoring and evaluation of the Company’s major financial and other risk exposures, including operational, legal, regulatory, business, financial and commodity market (including marketing and trading of energy and energy-related products and hedging of generation portfolio obligations), strategic, credit, liquidity and reputation risks.
Oversee the development of Company policies and procedures relating to risk assessment, management and reporting, including limits and tolerances, risk roles and responsibilities, risk mitigation decisions and risk-related assumptions.
Act on behalf of the Board of Directors in approving Company policies and procedures that allow financial speculation (transacting in commodities or financial products for the sole purpose of generating financial gain) or the use of financial derivatives for any purpose.
Approve all policies and limits relating to Power Team's hedging and trading activities.
Annually review and approve the nuclear fuel procurement strategy and act on behalf of the Board of Directors in approving transactions involving the purchase of nuclear fuel and related processing services.
Act on behalf of the Board of Directors, to the extent the Board of Directors has delegated authority to the Committee, in approving transactions involving the sale of energy, standard load serving transactions and other commodities, tolling/power purchase agreements, capacity and weather derivatives, and similar transactions.
Monitor the steps management has taken to assess, monitor, manage and control material risk exposures, including legal and regulatory compliance.
Develop and implement appropriate measures to address failures in compliance with established risk management policies and procedures.
Oversee the Company’s insurance program and make recommendations to the Board of Directors and management regarding insurance, including directors’ and officers’ liability insurance.
Perform such other functions as the Board of Directors shall delegate to the Committee from time to time.
Evaluate annually the performance of the Committee in the fulfillment of its functions and the performance of its responsibilities.
In October, 2009 Exelon had full or majority ownership of 17 nuclear reactors in 10 nuclear power plants.[4]
On June 30, 2005 the Federal Energy Regulatory Commission approved the merger of Exelon and Public Service Enterprise Group Inc., a New Jersey utility. Under this merger, Exelon would have become the largest utility in the United States.[5] The two companies later broke off the agreement[6] due to pressure put on the NJ Board of Public Utilities by public interest groups, including New Jersey Citizen Action.[7] The merger sat pending in front of the NJBPU for nineteen months before Exelon concluded that they were fighting a losing battle.
CHICAGO – (June 30, 2008) – In its sixth annual “Best Places to Work in IT” edition, Computerworld ranked Exelon as the 70th overall best company in the United States and 35th amongst large companies (10,000 or more employees).
Computerworld’s list is an annual ranking of the top 100 work environments for technology professionals compiled by IDG’s Computerworld, the “Voice of IT Management.” The lists are compiled based on a comprehensive questionnaire regarding company offerings in categories such as benefits, diversity, career development, training and retention.
“Exelon Corporation is honored to be recognized by Computerworld as one of the best places to work in IT,” said Dan Hill, senior vice president and CIO, Exelon Corporation. “This acknowledgement highlights our commitment to employee diversity, development and retention. Our goal is to instill best business practices into all facets of our organization. We have strived to create an environment in which employees are motivated and excited to contribute and innovate, and I think the survey results reflect that goal.”
Computerworld conducts extensive surveys of IT workers whose responses factor heavily in determining the rankings. Other criteria taken into account to determine finalists included company rewards; mentoring and advancement programs; corporate-employee recognition; employee flexibility; average salary increases; percent of staff promoted; turnover rates and the percentage of women and minority staff in management in IT departments.
Exelon has more than 600 IT employees and has consistently been recognized for operational excellence and client focus. In the Computerworld article, Exelon was commended for their diverse staff, exceptional benefits and compensation, and the unparalleled opportunities for employee development, advancement and rotation.
"Being among the Best Places to Work in IT means crafting a blend of employee advantages that includes the potential for flexible hours, competitive pay, excellent benefits, a supportive leadership environment, opportunities for ongoing training and advancement, and ultimately, the feeling that you'd like to stay with the company a long, long time,” said Scot Finnie, editor-in-chief of Computerworld.
Oversee management’s monitoring and evaluation of the Company’s major financial and other risk exposures, including operational, legal, regulatory, business, financial and commodity market (including marketing and trading of energy and energy-related products and hedging of generation portfolio obligations), strategic, credit, liquidity and reputation risks.
Oversee the development of Company policies and procedures relating to risk assessment, management and reporting, including limits and tolerances, risk roles and responsibilities, risk mitigation decisions and risk-related assumptions.
Act on behalf of the Board of Directors in approving Company policies and procedures that allow financial speculation (transacting in commodities or financial products for the sole purpose of generating financial gain) or the use of financial derivatives for any purpose.
Approve all policies and limits relating to Power Team's hedging and trading activities.
Annually review and approve the nuclear fuel procurement strategy and act on behalf of the Board of Directors in approving transactions involving the purchase of nuclear fuel and related processing services.
Act on behalf of the Board of Directors, to the extent the Board of Directors has delegated authority to the Committee, in approving transactions involving the sale of energy, standard load serving transactions and other commodities, tolling/power purchase agreements, capacity and weather derivatives, and similar transactions.
Monitor the steps management has taken to assess, monitor, manage and control material risk exposures, including legal and regulatory compliance.
Develop and implement appropriate measures to address failures in compliance with established risk management policies and procedures.
Oversee the Company’s insurance program and make recommendations to the Board of Directors and management regarding insurance, including directors’ and officers’ liability insurance.
Perform such other functions as the Board of Directors shall delegate to the Committee from time to time.
Evaluate annually the performance of the Committee in the fulfillment of its functions and the performance of its responsibilities.