When was Exelon Corporation founded?

Exelon Corporation was founded in 2000, in Chicago, Illinois by PECO Energy Company and Commonwealth Edison.

Who are the founders of Exelon Corporation?

The founder of Exelon Corporation is PECO Energy Company and Commonwealth Edison. The company was established in 2000 in Chicago, Illinois.

Who is the current CEO of Exelon Corporation?

The current CEO of Exelon Corporation is Calvin Butler Jr..

Where was Exelon Corporation founded?

Exelon Corporation was founded in Chicago, Illinois in 2000 by PECO Energy Company and Commonwealth Edison.

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Exelon Corporation

Regulated Electric and Gas UtilitiesFounded 2000- Updated June 2026

Reviewed by Swet Parvadiya

Last reviewed: June 2026

Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.

CorpDigest

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Exelon Corporation

Regulated Electric and Gas UtilitiesFounded 2000- Updated June 2026

Reviewed by Swet Parvadiya

Last reviewed: June 2026

Founders

Who Founded Exelon Corporation?

Q: Who founded Exelon Corporation?

Exelon Corporation was founded by PECO Energy Company and Commonwealth Edison in 2000 in Chicago, Illinois.

PECO Energy Company and Commonwealth Edison · Founded 2000 · Chicago, Illinois

Last reviewed: June 2026 · By Swet Parvadiya

Quick Answer

Exelon Corporation was founded by PECO Energy Company and Commonwealth Edison in 2000 in Chicago, Illinois. The company is currently led by Calvin Butler Jr..

Founding Story

The origin of the company is inextricably linked to the explosive economic growth and the massive industrialization of the late 19th and early 20th centuries, when the fragmented, unreliable electrical grids of the American Midwest and Mid-Atlantic were consolidated into single, highly efficient utility systems capable of powering the rapid urbanization of the nation. In 1882, the Chicago Edison Company was founded, later evolving into Commonwealth Edison (ComEd) under the visionary leadership of Samuel Insull, the pioneer of the modern electric utility holding company model, who recognized that the future of the power industry lay in the centralized, large-scale generation and efficient distribution of electricity to a massive, captive customer base. Similarly, in 1881, the Philadelphia Electric Company (which would later become PECO) was established to provide reliable power to the rapidly growing industrial hub of Philadelphia, building a dense network of wires and substations that would become the backbone of the region's economy. For over a century, these companies operated as independent, highly successful regional monopolies, navigating the complex regulatory landscape of the 20th century, surviving the Great Depression, and expanding their infrastructure to meet the surging post-war demand for electricity. The modern iteration of the company was born in 2000, when PECO Energy Company and Commonwealth Edison executed a landmark, $34 billion merger of equals to form Exelon Corporation, a transformative transaction driven by the realization that the impending deregulation of the power markets required massive scale, operational efficiency, and financial firepower to survive. The early years of the newly formed Exelon were defined by a relentless, high-risk struggle to integrate two massive, distinct corporate cultures and operational systems, a monumental logistical and financial challenge that required the consolidation of thousands of miles of distribution lines, the harmonization of billing and customer service platforms, and the establishment of a unified corporate identity. The breakthrough arrived in the 2010s, when the company executed a series of transformative acquisitions, most notably the $6.8 billion acquisition of Pepco Holdings in 2016, which instantly expanded its regulated footprint into Washington D.C., Maryland, and Delaware, solidifying its position as the largest regulated utility in the United States by customer count. The legacy of this aggressive consolidation is still visible in the DNA of the company, which maintains a uniquely close relationship with state regulators across six jurisdictions, a massive, entrenched operational footprint across the most densely populated corridors in the country, and a strategic willingness to invest in long-lead-time, capital-intensive grid hardening projects that smaller competitors often find too complex or risky to pursue. The evolution from the original Chicago Edison and Philadelphia Electric to the modern, pure-play regulated utility Exelon Corporation represents a century and a half of adaptation to the shifting regulatory and technological landscape of the North American power market, but the core mission established by the early utility pioneers remains unchanged: to secure the reliable, affordable, and increasingly clean energy required to power the American economy through a combination of technical excellence and ruthless operational execution.

PECO Energy Company and Commonwealth Edison

Co-founder 2000

Background

The modern corporate structure of Exelon Corporation was established in 2000 when PECO Energy Company and Commonwealth Edison executed a landmark, $34 billion merger of equals, driven by the realization that the impending deregulation of the power markets required massive scale, operational efficiency, and financial firepower to survive. This founding philosophy was deeply rooted in the belief that vertical integration and regulatory mastery were the keys to long-term survival, a principle that led the company to build a massive, multi-jurisdictional distribution network that remains the foundation of the modern pure-play utility enterprise.

Role at Exelon Corporation

Exelon Corporation was formed in 2000 through the merger of PECO Energy Company and Commonwealth Edison, establishing a corporate structure that would evolve into the largest pure-play regulated utility in the United States. The merged entity approached the problem of energy distribution with a deep understanding of industrial engineering and commercial strategy, recognizing that the consolidation of the utility sector would create massive opportunities for operational efficiency and regulatory leverage. Its early success was driven by its ability to navigate the complex political and regulatory landscape of the United States, leveraging the technical expertise of its legacy utility workforces to secure access to the vast distribution networks of the Midwest and Mid-Atlantic. The company instilled a culture of long-term strategic planning, technical excellence, and operational discipline, creating a corporate DNA that remains visible in its willingness to invest in massive, long-lead-time grid modernization projects and its deep integration across the utility value chain. Its visionary leadership and unwavering focus on regulatory alignment laid the foundation for two decades of growth and adaptation, transforming a diversified energy conglomerate into a global leader in regulated electricity and natural gas distribution.

Exelon Corporation: CEO & Leadership History

Full timeline →

Calvin Butler Jr.

President and Chief Executive Officer

2022–Present

Calvin Butler Jr. has served as CEO of the company since January 2022, leading the aggressive execution of a pure-play regulated utility strategy that focuses exclusively on the complex, capital-intensive business of transmitting and distributing electricity and natural gas. Under his leadership, the company has completed the strategic spin-off of Constellation Energy, generated massive, predictable free cash flow, and executed a ruthless capital allocation framework that prioritizes grid resilience, extreme weather hardening, and shareholder returns.

Christopher Crane

Chairman, President, and Chief Executive Officer

2012–2022

Christopher Crane served as CEO of the company for a decade, leading the aggressive execution of the company’s growth strategy, including the transformative $6.8 billion acquisition of Pepco Holdings and the initial strategic pivot toward separating the company’s regulated and competitive assets. His leadership laid the groundwork for the eventual 2022 spin-off of Constellation Energy.

Samuel Insull

Founding Visionary (Commonwealth Edison)

1892–1932

Samuel Insull was the pioneer of the modern electric utility holding company model who recognized that the future of the power industry lay in the centralized, large-scale generation and efficient distribution of electricity to a massive, captive customer base. His visionary leadership and unwavering focus on operational efficiency laid the foundation for a century of growth and adaptation, transforming a regional power provider into a global leader in utility distribution.