Shares of several regional power producers were drubbed Tuesday after the regional grid's annual auction attracted a record amount of new generation, effectively pushing down electricity prices for regional generators like Exelon Corp.

Deutsche Bank downgraded Exelon from a "buy" to "hold" Tuesday after PJM Interconnection on Friday lowered capacity prices for 2016-2017, citing an abundance of new natural-gas fired generation and increases in power imports from neighboring regions.

Exelon's shares closed down $2.61 or 7.5 percent on Tuesday at $32.04. Shares of FirstEnergy Corp., another big power generator, were off $2.76 or 6.5 percent.