Exelon Corp. says if regulators approve, it will split into two companies. Exelon Utilities, to be known as RemainCo, will keep the regulated electric and gas utilities. Exelon Generation, to become SpinCo, will operate the company’s nuclear power plants.
The company says more information will come out in the months ahead about the people running each company. It may take until March next year to complete the changes, and it depends on regulatory approval with no guarantees.
There is also no guarantee about the future of nuclear power plants that Exelon Generation says cost more to run than they bring in. The company says it will retire uneconomic assets that negatively affect its ability to provide a reliable source of clean power.