{{Short description|Former American energy company}} {{Infobox company | name = Unicom Corp | logo = | caption = | type = Public | traded_as = {{NYSE was|UCM}} | fate = Acquired by merger | defunct = {{End date|2000|10|23}} | foundation = {{Start date and age|1994}} | successor = Exelon | founder = | location = | location_city = | location_country = United States | key_people = James J. O'Connor (CEO and chairman 1994-1998)<br>John W. Rowe (CEO, chairman and president 1998-2000) | area_served = United States | industry = Energy | products = | revenue = | operating_income = | net_income = | assets = | equity = | num_employees = | homepage = | intl = }}
'''Unicom Corporation''' was an American energy holding company formed in 1994 from Commonwealth Edison after executives considered a corporate image makeover. The holding company merged with PECO Energy Company on October 23, 2000 to form Exelon.<ref name="arti_Edis">{{Cite web| title = Edison Now Plugging Into A New Logo| author = Gruber, William| work = tribunedigital-chicagotribune| date = 1994-05-27| access-date = 2018-01-25| url = https://www.chicagotribune.com/1994/05/27/edison-now-plugging-into-a-new-logo/}}</ref><ref name="elp._Unic">{{Cite web| title = Unicom and PECO Energy complete merger| author = Thomas, Kate| work = elp.com| date = 2000-10-25| accessdate = 2018-01-25| url = http://www.elp.com/articles/2000/10/unicom-and-peco-energy-complete-merger.html}}</ref>
==History== Unicom Corporation was formed in 1994 after energy company Commonwealth Edison executives focused on a corporate image makeover.<ref name="arti_Edis"/> Unicom's primary subsidiary, Commonwealth Edison, focused on the production, purchase, transmission, distribution, and sale of electricity to residential, commercial, industrial, and wholesale customers.<ref name="bloo_Unic">{{Cite web| title = Unicom Corporation: Private Company Information| work = Bloomberg| accessdate = 2018-01-25| url = https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=173433}}</ref> James J. O'Connor was CEO and chairman of the company from 1994 to 1998.
In 1997, after pending compromise to deregulate the electric utility industry, Unicom announced its intention to reenter the natural gas industry, an industry it left in 1954 following the spin off of Northern Illinois Gas Company.<ref name="arti_Unic">{{Cite web| title = Unicom Plans To Enter Natural Gas Business| author = Young, David| work = tribunedigital-chicagotribune| date = 1997-05-30| access-date = 2018-01-25| url = https://www.chicagotribune.com/1997/05/30/unicom-plans-to-enter-natural-gas-business/}}</ref> O'Connor stepped down as CEO in 1998 due to under-performance and was replaced by John W. Rowe who assumed the position of CEO, chairman and president of the company.<ref name="wsj._Unic">{{Cite web| title = Unicom Picks John Rowe As Its New Chief Executive| last = Miller | first = James P.| last2 = Journal | first2 = Ross Kerber Staff Reporters of The Wall Street| work = WSJ| date = 9 February 1998| accessdate = 2018-01-25| url = https://www.wsj.com/articles/SB886984248399285000}}</ref>
In September 1999, Unicom announced a planned $16 billion merger with PECO Energy Company.<ref name="nyti_Peco">{{Cite web| title = Peco and Unicom to Merge In Big Bet on Nuclear Power| last = Salpukas | first = Agis| work = nytimes.com| date = 24 September 1999| accessdate = 2018-01-25| url = https://www.nytimes.com/1999/09/24/business/peco-and-unicom-to-merge-in-big-bet-on-nuclear-power.html}}</ref> The merger was completed on October 23, 2000 and formed Exelon Corporation. The merger was one of the largest at the time. After the merger, Exelon maintained the largest collection of nuclear plants in the United States and became among the nation's largest electric utilities company, generating more than $12 billion in annual revenues.<ref name="elp._Unic"/><ref name="powe_Unic">{{Cite web| title = Unicom and PECO Energy complete merger| work = power-eng.com| date = 2000-10-24| accessdate = 2018-01-25| url = http://www.power-eng.com/articles/2000/10/unicom-and-peco-energy-complete-merger.html}}</ref>
==References== {{Reflist}}
==External links== *[https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=173433 Bloomberg company profile]
Category:Defunct energy companies of the United States Category:Electric power companies of the United States Category:Defunct companies based in Chicago Category: Companies formerly listed on the New York Stock Exchange Category:Non-renewable resource companies established in 1994 Category:Non-renewable resource companies disestablished in 2000 Category:Natural gas companies of the United States Category:Nuclear power companies of the United States Category:American companies established in 1994