Exelon to pursue new natural-gas power plant in Pa.

Electric utility Exelon Corp. said Thursday its Exelon Power unit will pursue the development of a natural-gas power plant in Pennsylvania this year.

The 600-megawatt plant would require a capital investment of more than $700 million and would provide enough electricity for nearly 525,000 households. Development of the plant would also provide for more than 500 construction-related jobs, the company said.

Exelon Power is in the initial stages of reviewing sites it already owns. Within the next six months, the company plans to narrow the list, begin talking with local communities in potential locations and submit applications for required environmental permits.

The earliest a plant could be operational is 2012, Exelon said.

Shares rose $1.06 to $86.54 in morning trading.