US ROUND-UP: EDF signs second PPA for Texas project, Exelon separates utility & competitive energy business Exelon separates utility & competitive energy business 24 February, 2021: Chicago-based energy company Exelon’s board of directors have agreed to separate its power generation business from its utility interests, creating two publicly-listed companies. The split, which will be structured as a tax-free spinoff, will provide each new company with the financial independence to focus on their “specific customer needs”, Exelon said in a statement last week. As part of the deal Exelon Utilities, known as RemainCo, will become the parent company for its six electricity and natural gas utilities Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco. Exelon Generation, meanwhile, will launch SpinCo, a business that Exelon claims is the largest supplier of clean energy across the US. SpinCo has a 31GW capacity portfolio of nuclear, wind, solar, natural gas and hydro assets, and will produce roughly 12% of the US’ carbon-free energy, it said. The deal is expected to close in the first quarter of 2022.