Exelon CEO to Urge Congress to Develop a Marshall Plan for Energy

In testimony before the U.S. Senate Energy Committee on Sept. 12, Exelon Chairman, President and CEO John Rowe will call on Congress to develop a 21st century Marshall Plan for energy, as part of a three-part plan to address the nation’s energy challenges.

“I believe nothing less than a comprehensive national effort for energy will put us on the right track,” said Rowe. “Just as the Marshall Plan successfully rebuilt Europe after World War II, we need a comprehensive, long-term plan to reconstruct our nation’s energy infrastructure and secure our energy future.”

In his testimony, Rowe will outline three key priorities for policymakers:

* Developing a comprehensive national energy plan
* Achieving prompt action on climate change legislation
* Continuing support for competitive wholesale electricity markets

Rowe will urge the Senate to reach a bipartisan agreement on climate change legislation that will reduce greenhouse gas emissions while protecting the American economy. Exelon has long supported a market-based cap-and-trade system for greenhouse gas emissions.

“Unless we pass a climate bill, we will fail on two fronts—first as environmental stewards, and second, in achieving a sustainable affordable energy future for the American people,” Rowe said.

Rowe also will reinforce the importance of staying the course on competitive wholesale electricity markets. He says competition is the best way to foster the investment and innovation needed to ensure sustainable and affordable energy for consumers.

“Congress has supported and worked to develop competitive wholesale markets for over 30 years,” Rowe said. “Changing course now—in the face of calls for massive investment to address climate change, enhance energy independence and power our economy—would be a grave error.”

While Rowe is encouraging new federal energy policies, Exelon is not waiting for Washington to act. Recently, the company launched a comprehensive environmental plan, Exelon 2020: A Low-Carbon Roadmap, that details Exelon’s plan to reduce, offset or displace more than 15 million metric tons of greenhouse gas emissions by 2020.

Rowe’s remarks at the Senate energy summit will be Webcast as part of the corporate leader panel beginning at 1 p.m. Eastern time by visiting http://energy.senate.gov/public/ and clicking on “Live Webcast.”

Exelon Corporation is one of the nation’s largest electric utilities with nearly $19 billion in annual revenues. The company has one of the industry’s largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and Pennsylvania and natural gas to 480,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.