GO
Loading...

Exelon CEO Estimates Storm Damage Near $100M

Damage to the Philadelphia area from Hurricane Sandy could reach $100 million, Exelon CEO Chris Crane said Tuesday on CNBC.

On "Fast Money," he said that approximately 1.1 million customers lost power, and so far about 370,000 households were back up and running.

(Read More: An 'Investible' Insurance Name Post-Sandy: Analyst)

Crane said that it would be another week before the system was fully restored, adding that the expected cost of the damage was in line with other hurricanes.

While the company's Oyster Creek nuclear power plant had issued an alert prior to the storm making landfall, Crane said that it remained within a parameter of safety.

"No real issues but lots of precautions taken," he said.

The company moved its quarterly earnings call to Thursday due to Sandy.

EmergingMoney.com's Tim Seymour wasn't jumping into the trade.

"I don't think this event as a one-off is a reason to buy these names," he said, even though he said he liked the company and its dividend.

______________________________________________________
Got something to to say? Email us at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment, but not have it published on our website, email fastmoney@cnbc.com.

Contact Fast Money

  • Showtimes

    Halftime Report - Weekdays 12p ET
    Fast Money - Weekdays 5p ET

Halftime Report

  • Bill Nygren, Oakmark Fund, explains why Apache, Bank of America and Google will be winners in 2015.

  • Nick Tiller, Sustainable America founder and chairman, tells CNBC's Kate Kelly oil prices are poised for a tradable rally. Tiller likes the Brent ETF and energy sector.

  • Discussing interesting trends contributing to the market's rally into year's end, with the FMHR trader Josh Brown and Dan Greenhaus, BTIG.