Commonwealth Edison Co to pay $200M to end bribery investigation


In a statement, Exelon said it has fully and substantially cooperated with the U.S. Attorney’s Office from the beginning of the investigation, and since that time, has taken extensive remedial measures. The remediation and cooperation efforts were acknowledged by the government in the DPA resolution agreement.

“We are committed to maintaining the highest standards of integrity and ethical behavior,” Exelon CEO Christopher Crane said. “In the past, some of ComEd’s lobbying practices and interactions with public officials did not live up to that commitment.”

“When we learned about the inappropriate conduct, we acted swiftly to investigate,” Crane added. “We concluded from the investigation that a small number of senior ComEd employees and outside contractors orchestrated this misconduct, and they no longer work for the company.”

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“Since then,” Crane said, “we have taken robust action to aggressively identify and address deficiencies, including enhancing our compliance governance and our lobbying policies to prevent this type of conduct. We apologize for the past conduct that didn’t live up to our own values, and we will ensure this cannot happen again.”