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PEPCO and Exelon Move to Secure Merger

PEPCO and Exelon filed a new agreement with the Washington D.C. Public Service Commission (PSC) on Monday that could save the merger between the utility companies.

The PSC previously voted against the merger of PEPCO and Exelon, but allowed the both companies to come up with an alternate agreement that would address the concerns of the commission.

According to a news release, the new agreement would prevent the loss of more than $78 million in benefits for the District and PEPCO customers. The proposed agreement would allow the PSC flexibility in terms of how the funds are collected to assure that the merger is in the public interest. The deal would include a $50 statement credit to every PEPCO customer in the District, a promise for fewer outages and a commitment to solar and wind power. Image of Pepco truck door with Pepco logo

Chris Crane is the president and CEO of Exelon.

“This alternative proposal provides flexibility in determining a path forward for the merger, addressing the guidance the Commission provided in its order and the desire to protect District residents, including those most in need, from rate increases,” Crane said in a news release. “And it maintains the full $78 million in benefits for the District and PEPCO customers agreed to in the original settlement.”

Both companies have asked for a decision from the PSC by April 7.

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It’s official, PEPCO and Exelon have now completed a multi-billion dollar merger. Exelon received the final green light to purchase PEPCO after the Washington D.C. Public Service Commission (PSC) voted two to one in favor of the deal on Wednesday. Key leaders in the District, including Washington D.C. Mayor Muriel Bowser and Attorney General Karl Racine have […]

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PEPCO and Exelon Move to Secure Merger

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PEPCO and Exelon filed a new agreement with the Washington D.C. Public Service Commission (PSC) on Monday that could save the merger between the utility companies. The PSC previously voted against the merger of PEPCO and Exelon, but allowed the both companies to come up with an alternate agreement that would address the concerns of the commission. […]

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D.C. Public Service Commission Rejects PEPCO-Exelon Merger with Conditions

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The Washington D.C. metropolitan region was expecting to hear about one of the largest utility mergers in the country today but the D.C. Public Service Commission (PSC) says the deal is not that simple.  The PSC rejected the merger between PEPCO and Exelon in a room packed with media and  but will still keep the lights […]

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Leventhal Holds News Briefing (VIDEO)

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Montgomery County Council President George Leventhal met with the media Monday and talked about the recent developments in the Purple Line, the Exelon-Pepco merger and the search for the next superintendent of the county’s school system. You can watch that news briefing in its entirety here.

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Krista Brick

About Krista Brick

Krista Brick is a multi-media journalist with Montgomery Community Media.

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