Chicago's Exelon holds annual meeting in Baltimore

Annual and Special Corporate MeetingsExelon Corp.CEO PayBarack Obama

Exelon Corp. said Tuesday that its executive compensation package received an advisory OK from three-quarters of shareholder votes during the annual meeting, which the Chicago energy company held in Baltimore.

About 20 shareholders attended the Tuesday meeting. The sole question came from Cherylyn Harley LeBon with the National Center for Public Policy Research, a Washington group that advocates for the free market and is critical of efforts on climate change.

Referencing a New York Times story that detailed the company's ties with President Barack Obama, LeBon asked how much money Exelon made by influencing clean-air regulation and "surreptitiously eliminating" coal power-plant competitors. She also asked whether it was prudent for the company to accept a large grant and loan from the federal government.

Exelon CEO Christopher Crane, according to a company transcript of the meeting, responded that some regulatory requirements are for public health and safety.

"Exelon's desire to have a seat at the table, like many other businesses in the industry, is to make sure that the market rules allow competitiveness and allow us to deliver our product fairly and at a fair price," he said.

jhopkins@baltsun.com

twitter.com/jsmithhopkins

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