T&D World Live Podcast: Exelon CEO Calvin Butler on the Future of Utilities, Clean Energy, and Customer Affordability

In this episode of the T&D World Podcast, Exelon CEO Calvin Butler sits down to discuss the challenges and opportunities facing the utility industry as demand surges, technology evolves, and customer expectations shift.

Butler begins by describing Exelon’s financial and operational footing as strong, emphasizing that the company has committed “38 billion over the next four years and the LRP.” He points to significant demand growth, especially in Illinois, where “16 gigawatts [are] already accounted for with another 16 gigawatts in the pipeline.” For him, that translates into a decade of transmission expansion and the company’s guiding philosophy of delivering “above average growth with below average rates.”

On clean energy, Butler reiterates Exelon’s commitment, saying, “Clean energy is a priority” and affirming the company’s path to be “net zero business driven emissions by 2050.” Yet he acknowledges a shift in how customers frame their priorities. “Our customers are feeling that pain and they no longer lead with clean, they lead with affordability,” he explains. “If I have a choice of being able to afford it or have it clean, I’m going to take being able to afford it first.” Affordability, in his view, has become the starting point for every conversation.

Turning to public policy, Butler argues that collaboration across jurisdictions and regulators is essential. “Collaboration is going to be the only way we achieve our goals,” he says. He highlights regulatory bottlenecks, pointing out that “it takes us almost six to seven years to do siting to build new transmission lines” — a timeline he considers incompatible with national energy security goals.

Butler also speaks about smaller utilities and their vulnerability in an era of rising climate risks and capital needs. He worries that “everybody’s budgets on the smaller scale is going to get squeezed,” leading many to rely on partnerships or acquisitions, as seen in recent private equity moves in the utility space.

The conversation circles back often to customers. Butler emphasizes that while rising bills are unavoidable, customers will accept higher costs if they perceive clear benefits: “People don’t mind paying for what they feel they’re getting value for.” He describes Exelon’s efforts to help, including suspending disconnections, waiving late fees, and simplifying access to energy assistance so that “if someone is on food stamps, they automatically qualify for energy assistance.”

Reflecting on his own role, Butler notes the shift from day-to-day operations to broader strategy and policy focus since becoming CEO. He describes his leadership style as “empowering, collaborative, and focused,” stressing the importance of convening policymakers, customers, and utilities to tackle issues larger than any one company. “This is not about one jurisdiction or one state. We have big issues out there. Let’s handle them together.”

Customer satisfaction remains top of mind for Butler. He underscores the need to simplify interactions and provide flexibility: “Every customer group wants something different, but all of them want ease of doing business with you.” As he concludes, Butler makes clear that affordability, reliability, and customer trust must remain the foundation of the industry’s transition, even as clean energy and technology transform the grid.

You can also listen to the other episodes of T&D World Live by going to https://tanddworld.podbean.com/.