CLAIM #23503 · EXC (EXC) · 2025Q2 earnings call · Jul 31, 2025 · due Dec 31, 2028
“Yes, we have been using a rule of thumb of every new dollar is about 40% equity.”
Jeanne Jones · CFO
How to check this claim
Look at: Equity financing as a percentage of incremental capital deployed for the $10B-$15B capital program
It came true if: Equity component approximately 40% (within 35%-45%) of new capital raised
Where: management commentary on equity/debt issuance and financing plans (earnings calls, investor presentations, 10-K financing activities)
In context
“d going forward. And then, of course, we'll continue to keep an eye on the potential generation opportunities, working with our states. We wouldn't build that in until it's certain. And then Calvin also mentioned that we've organized ourselves under our Head of Transmission, Carim Khouzami, to also look at other competitive types of transmission. So as those opportunities are not in the $10 billion to $15 billion, and we would only put that in, as you would expect from Exelon until we have more certainty on those. But those are opportunities that we continue to work towards. Anthony Christopher Crowdell: And financing that $10 billion to $15 billion a good rule of thumb, 30% to 40% equity or I'm curious what would be a good rule of thumb to finance that incremental CapEx? Jeanne M. Jones: Yes, we have been using a rule of thumb of every new dollar is about 40% equity. Anthony Christopher Crowdell: Great. And then if I could jump to -- weird. I don't know what paper it was, had a big story on, I think the Illinois governor and quantum computing and like -- it seems like -- I apologize if I mispronounce the name, Governor Pritzker is very big in quantum computing. Is that creating a bigger opportunity or a unique opportunity for ComEd that may be it's different than the data center thematic that's going through the rest of the country? Calvin G. Butler: Great question, and you did pronounce his name correctly. So congratulations. I was there last week on a panel with members of IBM and others talking about the quantum computing campus that they've established. And we're -- and the State of Illinois is very proud of that. And you heard me allude to in my”
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SEC filings for EXC ↗ · Claim quote is verbatim from the 2025Q2 earnings call.