Update on the Status of the Exelon/Pepco Merger

 

September 28, 2015

 

Today, Exelon and PHI filed an Application for Reconsideration of the Public Service Commission's decision denying their application to approve their proposed merger. People's Counsel Sandra Mattavous-Frye stated, "OPC will review the companies' Application to ensure that it meets the criteria established by the Commission's rules and regulations."

Separately, Mayor Muriel Bowser has announced that her administration is engaged in substantive discussions with the companies to address the Administration's concerns in a new application to be filed before the DC Public Service Commission ("PSC").

"As People's Counsel, I am pleased that Exelon and Pepco have demonstrated that they have listened to OPC and the public regarding the need for real consumer benefits as reflected in the Public Service Commission's decision denying the current merger application. OPC agrees that "the most appropriate course of action to resolve shortcomings highlighted in the trial and public hearings is to file a new merger application," according to Ms. Mattavous-Frye.  

OPC, as the statutory advocate for District ratepayers, will continue to employ every effort to achieve optimal results for DC ratepayers, consistent with Mayor Bowser's stated objective "to position a healthy public utility to serve our residents and ratepayers in a cost effective, dependable and environmentally sound manner."