Tag

Exelon

All articles tagged with #exelon

PECO union warns of Fourth of July strike amid stalled contract talks
business19 days ago

PECO union warns of Fourth of July strike amid stalled contract talks

IBEW Local 614 says roughly 1,600 PECO workers will strike on July 4 if a contract isn’t reached after five months of negotiations, citing unresolved issues over wages and benefits. The union claims PECO pays about 30% less than peers, while the company says its offer is fair and plans to use trained contractors if a work stoppage occurs. Talks resume July 2 with a federal mediator involved; both sides have filed unfair-labor-practice complaints. A PECO strike would be PECO's first in 145 years and could impact service to about 1.7 million electric and 550,000 gas customers in the Philadelphia region, amid broader Exelon-profit growth.

SEC Charges Exelon and Former CEO in Madigan Scandal
legalcorporate-scandal2 years ago

SEC Charges Exelon and Former CEO in Madigan Scandal

Exelon Corp., the parent company of Commonwealth Edison (ComEd), has agreed to pay $46.2 million in penalties as part of a settlement with the Securities and Exchange Commission (SEC) over a fraud scheme to influence and reward former Illinois House Speaker Michael Madigan. The SEC also charged former ComEd CEO Anne Pramaggiore with bribery-related charges. Pramaggiore, who was already convicted in the "ComEd Four" corruption case, will face litigation for the new charges. The penalties come after ComEd's deferred prosecution agreement in July 2020, which included a $200 million fine. The SEC complaint alleges that Pramaggiore participated in the bribery scheme and misled investors about ComEd's lobbying activities.