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Dozens of District Residents and Community Leaders Voice Support for Pepco Holdings-Exelon Merger at Community Hearing

More than 100 District of Columbia residents and community groups turned out at a hearing today to tell the Public Service Commission of the District of Columbia (PSC) that they support the merger of Pepco Holdings Inc. (NYSE: POM) and Exelon Corporation (NYSE: EXC) for the significant benefits it will bring to the region.

The PSC called the hearing as a forum for individuals and organizations in the District to comment on the merger settlement the companies reached with the Government of the District of Columbia and others on Oct. 6, 2015. The Commission on Oct. 28 reopened the record to consider the settlement with the District Government and others, and set a schedule for the reconsideration of the merger application that would allow it to issue a decision in the first quarter of 2016.

The merger settlement includes numerous commitments to the District, including providing $72.8 million in direct customer benefits, including bill credits, assistance for low-income customers, fewer and shorter power outages, and investment in a cleaner and greener D.C.

"Efficiency, reliability and sustainability - those are the things that drove me to be here today," said Ellen Jefferson, a District resident who attended the hearing to voice her support. "As a business owner, I know what it means when you don't have power - it means thousands of dollars of lost revenue. I understand that it takes lots and lots of resources to ensure continuity of power, but I think that the Pepco-Exelon merger will create some synergies that were not there before."

Among its many commitments, the merger settlement includes investments in local jobs and workforce development. Pepco has committed to hire more than 100 union workers in the District, and Exelon has offered $5.2 million for workforce development programs.

"We're encouraged the merger will bolster support for local jobs and help develop the District's future workforce," said Carmen Robles-Inman, program director, Workforce Development, Edgewood/Brookland Family Support Collaborative. "As the District's economy continues to grow, we will need these skilled workers to fill the jobs of tomorrow."

Citizens from all eight wards attended the hearing and presented testimony to demonstrate their support for the merger. They represented a broad range of interests, including faith groups, nonprofits and other community organizations. Many wore T-shirts and buttons and carried signs showing their support.

"I'm here because I want to give a chance to new opportunities. I do think this will benefit the community," said Rev. Robert Childs, Pastor, Berean Baptist Church. The merger is "going to bring benefits to residents."

In addition to the parties that signed the settlement, the merger has the support of a majority of the D.C. Council and more than 30,000 District residents who have signed a petition or submitted letters to the PSC in recent weeks.

"The testimony we heard today is another clear sign the merger has widespread public support following our settlement with Mayor Bowser, the Department of Energy and Environment, the Attorney General for the District of Columbia, the Office of the People's Counsel and others," said Donna Cooper, president. Pepco Region. "We are eager to bring the merger's many benefits to the District's citizens, and they are equally eager to receive them."

"District residents value the merger because it includes commitments - such as bill credits, enhanced reliability goals and funds for renewables and energy efficiency - that will make electricity more affordable and more reliable and will advance the District's long-term sustainability goals," said Melissa Sherrod, vice president, corporate affairs, Exelon. "The package of benefits we've proposed responds directly to what the District has said it wants and can only be secured if the merger is approved."

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