Exelon Corp., a big new kid on the electricity block, is expected to begin trading today on the New York Stock Exchange under the symbol “EXC.” The new company is the product of the $8 billion merger of Unicom Corp. and PECO Energy Co. which was completed on Friday, following approval by the Securities and Exchange Commission.
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NGC Corp. clearly believes renewable energy is the product ofthe future and has signed an agreement to supply power generatedfrom renewable sources to Green Mountain Energy Resources forretail power customers in California. NGC will supply wholesalepower for two of the three products Green Mountain is selling: itsWater Power blend and its 75% Renewable Power blend, according toTom Boucher, vice president of energy supply and businessdevelopment at Green Mountain. The wholesale power will come fromdifferent types of generating facilities in California and thewestern region, including small-scale hydro, geothermal, andbiomass facilities. A contractual chain will ensure that GreenMountain’s retail customers are purchasing power from a renewableor hydro source, said Doug Boccignone, director of marketing forNGC’s Electric Clearinghouse.