Exelon Corporation’s (EXC) subsidiary PECO Energy Company (“PECO”) has completed annual examination of the circuits and aerial electric lines. The company has spent over $0.5 million for this purpose. These activities are part of PECO’s overall preventative maintenance program.
In this occasion, PECO checked more than 10,000 miles of aerial electric lines and tried to find out sagging lines and damaged components. The company also used infrared cameras to recognize possible upcoming issues before their occurrence. In addition, PECO inspected 1,885 circuits in its operating territory.
Under the preventative maintenance program, PECO primarily inspects several apparatuses of its electricity and natural gas systems, including underground cables, transformers, manholes and several other components.
The implementation of modern technology enables the company to provide uninterrupted services to its customers, while reducing breakdowns and strengthening system competence. We believe execution of these initiatives will subsequently improve reliability and public safety.
It is evident from Exelon’s capital spending program that the company currently intends to upgrade its electricity distribution assets. Previously, PECO completed a $16 million project to upgrade portions of electric transmission lines and equipments, and another venture worth $35 million to install a new electricity transmission line and upgrade systems.
As of Jun 30, 2013, Exelon’s cash balance was $1.0 billion and cash provided by operating activities during the first six months of 2013 was $1.2 billion. A strong financial position helps the company to make regular investments for the infrastructure development activities.
Chicago, Ill-based Exelon engages in generation, transmission, distribution and sale of electricity to the residential, commercial, industrial and wholesale customers.
Exelon currently has a Zacks Rank #4 (Sell). However, other stocks in the industry that are worth considering include Huaneng Power International, Inc. (HNP) with a Zacks Rank #1 (Strong Buy), and Alliant Energy Corp. (LNT) and IdaCorp, Inc. (IDA), each with a Zacks Rank #2 (Buy).
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