Councilmember Roger Berliner’s Statement on the Sale of Pepco
Montgomery County Councilmember Roger Berliner, chair of the Council’s Transportation, Infrastructure, Energy and Environment Committee, made the following statement today regarding the sale of Pepco:
“One the largest utilities in the country, Exelon, has agreed to buy Pepco for $5.4 billion in cash. That sale is subject to approval by a number of regulatory agencies, including our own Maryland Public Service Commission. Those of us who have endured Pepco’s poor performance could benefit from this transaction if our state regulators insist that Exelon make a binding commitment to dramatically improving reliability.
“Exelon, owner of Baltimore Gas & Electric, has a better track record than Pepco when it comes to reliability. But we will need our regulators to be strong. This potential deal will make Exelon a very dominant force in Maryland’s energy sector and our regulators will have to be much more vigilant than they have been in the past.”