Exelon Corp. said it completed the spin-off of Constellation Energy Corp., a natural gas supplier whose fleet powers more than 20 million homes and businesses.

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The Chicago-based company’s transmission and distribution utility business would continue under the Exelon name, and trade on the Nasdaq under the ticker “EXC.” It is the nation’s largest utility company, serving more than 10 million customers through six regulated utilities, the company said.

Exelon announced the move in early 2021, calling the split of the utilities and power-generation businesses a way to unlock more value for each operation. 

Exelon acquired Baltimore-based Constellation for nearly $8 billion in 2012. However, it determined last year that the more predictable utilities side of its business...