You are currently viewing Constellation Completes Separation from Exelon

Constellation Completes Separation from Exelon

Nuclear power plants in Scriba now under new ownership

By Steve Yablonski

In the spring of 2021, Exelon approved a plan to separate Exelon Utilities, comprised of the company’s six regulated electric and gas utilities, and Exelon Generation, its competitive power generation and customer-facing energy businesses, into two publicly traded companies.

The separation gives each the financial and strategic independence to focus on its specific customer needs, while executing its core business strategy.

The separation closed Feb. 1, and Constellation launched the next day as a standalone, publicly traded company; the nation’s largest carbon-free energy producer and leading supplier of clean energy solutions to millions of homes and businesses.

The businesses, including the nuclear and generation sites, will operate under the Constellation brand, headquartered in Baltimore,
The separation doesn’t impact plant operations or staffing at the plants, a company spokesperson said.

“While the parent company names have changed, the front-line work we do every day in our operating companies, and our commitment to safety, reliability and the communities we serve — will not, the spokesperson added.

“The future health and prosperity of our nation is inextricably linked to our success in eliminating carbon pollution. Our entire focus will be on helping our customers and communities achieve that goal,” said Joseph Dominguez, CEO of Constellation. “Our clean generation fleet and leading customer-facing platform are the foundation on which we will sustain and grow our business.”

Constellation operates in 48 states, Canada and the U.K., employing approximately 13,000 people.

Its strategy to accelerate the nation’s response to the climate crisis includes a commitment to a carbon-free future. Constellation’s fleet of nuclear, hydro, wind and solar generation facilities provides 10% of all clean power on the grid in the U.S. With leading scientists and policymakers in agreement that nuclear is critical to meeting the nation’s climate goals, the company’s fleet has the potential for second license renewals that will extend the life of nuclear stations to 80 years.

The Nine Mile Point Nuclear Station (units I and II) and the James A. FitzPatrick Nuclear Power Plant at Nine Mile collectively employ about 1,400 highly trained professionals. They produce enough carbon-free energy to power nearly two million homes and businesses.

In 2021, they donated more than $100,000 to local organizations. In addition to financial support, employees are generous with their time and volunteered 2,900 hours with local organizations.

Periodic refueling outages necessitate more than 1,300 workers, many of whom travel to Oswego County from out of state.

For several weeks before and during outages, the influx of people gives a boost to the local economy.