For Immediate Release
WASHINGTON, D.C. (Dec. 9, 2015) -
A citywide town hall meeting on the proposed Pepco
Holdings-Exelon merger drew a standing-room crowd of about 250 people at the
Howard Theatre last night.
The event, which also was live-streamed
online, was moderated by Denise Rolark Barnes, publisher of the Washington
Informer. David Velazquez, executive vice president of Power Delivery for Pepco
Holdings, and Bill Von Hoene, senior executive vice president and chief
strategy officer for Exelon, described the merger's benefits for the District and
answered questions, along with Donna
Cooper, region president of Pepco, and Melissa Sherrod, vice president of
Corporate Affairs for Exelon. Barnes asked the executives to respond to
criticism of the merger from opponents before opening questions to audience
members in attendance and watching online.
"We have deep roots in the District of
Columbia and have been a part of this community for more than 100 years," said
Velazquez, who will be CEO of Pepco Holdings and Pepco after the merger is
completed. "We are committed to this community and helping the residents. This
merger provides real, tangible and long-term benefits, and we want to provide
them to our customers."
Velazquez and Von Hoene explained that the
recently reached a merger settlement with the District of Columbia government,
Office of the People's Counsel, Attorney General and others that provides
substantially enhanced benefits to District residents, including bill credits, low-income assistance, fewer and shorter outages, a
cleaner and greener D.C., and investment in local jobs and the local economy. That
settlement is currently being considered by the Public Service Commission of
the District of Columbia (PSC).
"We want to be a part of this community, and
we have three top-performing utilities that will provide best practices and
resources to help Pepco improve the service it delivers to District of Columbia
residents," Von Hoene said. "We will prove
Exelon is a company worthy of the District, a company that is committed to the
highest levels of performance and customer service, and a company that does
right by our customers, communities and the environment."
The merger has widespread support in the
community, as evidenced by the dozens of people who testified about its
benefits at the PSC community hearing last month and the tens of thousands of
people who have shown their support by signing petitions and sending letters to
the PSC. A majority of Council of the
District of Columbia members also recognize the substantial benefits to
District under the settlement and submitted a letter to the commission
encouraging approval of the merger.
merger has been approved in Maryland, Delaware, New Jersey and Virginia and by
federal regulators. The D.C. PSC is the only remaining approval needed. The PSC
has set a schedule for completing the proceeding by the first quarter of 2016.