By Suzanne Herel

Exelon reported fourth-quarter earnings Friday of $18 million ($0.02/share), compared with $495 million ($0.58/share) in 2013. For the year, the company reported earnings of $1.623 billion ($1.88/share) versus $1.719 billion ($2.00/share) in 2013.

The Chicago-based company attributed the depressed earnings in part to warmer-than-expected temperatures in the last three months of the year.

CEO Chris Crane touted the company’s investments in emerging technology, citing Bloom Energy, whose East Coast manufacturing facility is based in Delaware. Exelon announced last July it would provide equity financing for 21 MW of Bloom Energy fuel cell projects at 75 commercial facilities in California, Connecticut, New Jersey and New York.

He also noted progress in the discussion to improve the finances of its Illinois nuclear plants. A report released by Illinois officials last month underscores their reliability as well as economic and environmental benefits to the state, he said. (See Illinois Considering Carbon Tax, Cap-and-Trade to Save Exelon Nukes.)

Said Bill Von Hoene, chief strategy officer: “We are supportive of any of the options that reward all carbon-free resources equally, but doing nothing simply is not a viable economic option if we are to maintain the operations of those plants that are at risk. As we stated repeatedly, we do not seek a bailout.”

He noted recent approvals of the Pepco Holdings Inc. acquisition by New Jersey, FERC, Virginia and Delaware, saying he expects the deal to close in the second half of this year. (See Exelon-Pepco Deal Moves Forward in NJ, Del..)

“We are continuing the process of review in the remaining jurisdictions of Maryland and Washington, D.C.,” he said.