For Immediate Release
(Dec. 22, 2015) -Pepco Holdings Inc. (NYSE: POM) and Exelon Corporation
(NYSE: EXC) are emphasizing the tangible affordability, reliability and
sustainability benefits their merger will provide residents and others in the
District as the Dec. 23 closing of the record nears in proceedings before the Public
Service Commission of the District of Columbia (PSC).
"If the merger is completed,
residents, businesses and organizations in the District will benefit from a
stronger utility that will provide enhanced electric service, more affordable
rates and more sustainability benefits," said Donna Cooper, region president,
Under the settlement reached in
early October with the District of Columbia government and others, Pepco and
Exelon committed to providing numerous, enhanced benefits to residents,
communities and organizations in District, such as:
The commitments in the settlement
respond directly to many of the priorities residents and organizations
throughout the District have expressed to Pepco and Exelon. At the same time,
the companies, recognizing some residents have concerns about the merger, will
continue to listen and make every effort to show Pepco's and Exelon's
commitment to the highest levels of service and accountability to communities
and the environment.
More than 40,000 District residents have signed
a petition in support of the merger, and approximately 9,000 District residents
have sent letters of support. The petition signatures and letters have been
filed with the PSC.
Among those who signed on to the
settlement agreement are Mayor Muriel Bowser, the Department of Energy and
Environment, the Office of the People's Counsel, the Attorney General, the
Apartment and Office Building Association of Metropolitan Washington, the
District of Columbia Water and Sewer Authority, the National Consumer Law
Center and the National Housing Trust. A majority of D.C. Councilmembers also
have endorsed the merger.
merger has been approved in Maryland, Delaware, New Jersey and Virginia and by
federal regulators. The D.C. PSC has set a schedule which would allow for
completing the proceeding by the first quarter of 2016.