Pepco and Exelon File Petition for New Hearing in D.C.
Pepco Holdings Inc. and Exelon Corporation have filed a petition for reconsideration of their merger with the Public Service Commission (PSC) of the District of Columbia. According to a news release, the companies are working with the District of Columbia government to reach a settlement agreement.
“We remain convinced our merger offers significant benefits to customers and the District, and we continue working to complete it,” said Chris Crane, president and CEO of Exelon. “Since the Public Service Commission explained why it didn’t approve the merger last month, we’ve worked to learn what’s most important to the District – and we are responding.”
Joseph Rigby, chairman, president and CEO of Pepco Holdings, said, “We look forward to completing discussions with the District that will allow for a stronger Pepco to provide improved reliability along with the other significant benefits our merger will deliver to the District.”
The District of Columbia government issued a statement on Monday confirming that it is engaged in discussions with the companies on a settlement agreement. It added that any settlement agreement would be presented in a new application to the PSC for review, public comment and final determination. You can read the statement in its entirely, here.
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