# Who are Exelon's customers? Who does Exelon earn revenue from?
Canonical: https://valuechain.wiki/exelon · Facet: customers · Updated: 2026-07-12T03:54:59.471+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Exelon's confirmed revenue counterparties include 아마존 (PECO 데이터센터 접속) plus 2 undisclosed/aggregate relationships. Per the valuechain.wiki graph: 3 revenue edges, backed by 3 dated sources, 1 of them primary filings (as of 2026-07-12).

### 소매 송배전 고객 (규제 요금) (high)
- metric: Revenue 24.26 USD_bn · Total operating revenues
- note: Delivers regulated electric/gas distribution and transmission to ~10 million customers via six subsidiaries. FY2025 total operating revenues $24.26B (FY24 $23.03B, FY23 $21.73B); ComEd $7.27B.
- [confirms] TIKR (KO, analysis, published 2026-06-25) https://www.tikr.com/ko/blog/exelon-stock-q1-2026-a-41-7-billion-capital-pivot-and-a-47-total-return-case: "Q1 2026 revenue rose 7.86% YoY to $7.24B, driven by distribution and transmission rate increases at ComEd, PHI and BGE."
- [confirms] SEC EDGAR (EN, filing, published 2026-02-12) https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm: "Total operating revenues 24,258 23,028 21,727 ... [ComEd] Total operating revenues 7,267 8,219 7,844."

### 데이터센터·대형부하 (송배전 접속) (high)
- metric: volume 18 GW · 첨단 데이터센터 접속 파이프라인
- note: Large-load interconnection for AI data centers is the new growth driver. Advanced pipeline ~18 GW (Nov 2025, ~45% secured), up to 47 GW potential. The 10-K names 'new business including data centers' as a driver of ~$23 billion rate-base growth by 2029.
- [mentions] TIKR (KO, analysis, published 2026-06-25) https://www.tikr.com/ko/blog/exelon-stock-q1-2026-a-41-7-billion-capital-pivot-and-a-47-total-return-case: "Plan targets 16% annual transmission rate-base growth to serve data-center load growth."
- [confirms] SEC EDGAR (EN, filing, published 2026-02-12) https://www.sec.gov/Archives/edgar/data/1109357/000110935726000018/exc-20251231.htm: "...smart grid technology, storm hardening, advanced reliability technologies, new business including data centers, and transmission projects, which is projected to result in an increase to current rate base of approximately $23 billion by the end of 2029."
- [confirms] Utility Dive (EN, news, published 2025-11-05) https://www.utilitydive.com/news/exelon-data-center-amazon-earnings-maryland/804720/: "Exelon's advanced data center pipeline grew 13% quarter-over-quarter to 18 GW, with potential future additions of 47 GW."

### 아마존 (PECO 데이터센터 접속) (mid)  → /amazon.md
- note: Subsidiary PECO filed a large-load interconnection agreement with Amazon at PJM. The PJM market monitor objected, arguing PECO must show the deal will not raise costs for existing retail customers or harm reliability (under regulatory review).
- [confirms] Utility Dive (EN, news, published 2025-11-05) https://www.utilitydive.com/news/exelon-data-center-amazon-earnings-maryland/804720/: "The PJM market monitor argued the PECO-Amazon data center agreement should be rejected unless PECO shows it won't increase costs for existing retail customers or harm grid reliability."

Reverse side: https://valuechain.wiki/exelon/suppliers.md · Ripple: https://valuechain.wiki/exelon/ripple.md

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Full node: https://valuechain.wiki/exelon.md · JSON: https://valuechain.wiki/exelon.json