CLAIM #23427 · EXC (EXC) · 2024Q3 earnings call · Oct 30, 2024 · due Dec 31, 2027
“What’s not in our plan, you mentioned PJM’s window one this year. We think there’s opportunity there, probably more in the couple of hundred million size.”
Jeanne Jones · CFO
How to check this claim
Look at: Incremental capital investment opportunity awarded/identified from PJM's transmission window one process, incremental to current capital plan
It came true if: Additional disclosed capital opportunity from PJM window one >= $100 million (in the 'couple of hundred million' range)
Where: Company capital plan updates / management commentary on subsequent earnings calls or investor materials
In context
“re excited about that, right? We all know we need more generation, and we need all types of generation. So that’s another key theme, the changing generation mix and then, of course, right, the theme of new load. When we updated that capital plan that I mentioned, the $3 billion, 90% of it was transmission, $700 million was in ComEd, right? And ComEd is where we are increasingly seeing that data center growth. You heard Calvin talk about going from 6-gigawatts of high probability to 11-gigawatts just this year alone. The work we need to do to accommodate that high-density load continues, not only in ComEd, but across PJM, right? Last year, we talked about the $1 billion for the ARTECH window three, are related to Northern Virginia data centers. So I think that increasingly becomes a trend. What’s not in our plan, you mentioned PJM’s window one this year. We think there’s opportunity there, probably more in the couple of hundred million size. But then outside of PJM, MISO is doing its tranche two. That is another potential opportunity for us that’s not in the plan. There are pieces of the solutions that cross in our territory, and MISO has indicated willingness to work with PJM operators. So I think no shortage of opportunities, a lot of strong themes, which just kind of continue to build that momentum for more investments. And what we love about them is often those investments help save our customer money when you think about the alternatives. Julien Dumoulin-Smith: Completely appreciate it guys. Thank you so much. Calvin Butler: Thank you, Julien. Operator: Thank you. [Operator Instructions] Our next question comes from the line of Shar Pourreza from Guggenheim Partners. Calvin Butler: Good morning, Shar. Shar Pourreza: Good”
Verify independently
SEC filings for EXC ↗ · Claim quote is verbatim from the 2024Q3 earnings call.