For Immediate Release
(Feb. 1, 2016) -
Minority and women-owned businesses in the District
will benefit from new and expanded opportunities with the proposed Pepco-Exelon
merger, leaders of both companies told an audience of more than 160 local
business leaders recently.
One local company in the audience, Ideal Electrical
Supply Corp., has been working with Pepco for nearly 30 years. Ideal - a women
and minority-owned business - did about $20 million in business with Pepco last
year, up from $3.5 million several years ago.
"We're excited about the possibilities this merger
opens for us and look forward to it moving forward," said Ideal President and
Co-founder Cora Williams.
resources of Pepco and Exelon and their commitment to invest locally will be
beneficial to local and diverse contractors and the communities we serve," Pepco
Region President Donna Cooper said, adding: "We're supportive of every effort
to drive jobs and economic development in the District and our merger with
Exelon will continue that support."
remarks came during a roundtable and networking session at the Hamilton Live
for contractors in the Washington, D.C., area. A wide variety of small business
owners attended the event for a detailed question and answer period with key
officials at Pepco Holdings and Exelon and to make connections with other small
Pepco Holdings and Exelon executives provided specifics
on company contracting levels that are likely to expand if the merger is
approved and how local businesses will be able to work with the companies.
Melissa Sherrod, vice president of corporate affairs at
Exelon, explained how Exelon spent more than $1.3 billion in 2015 with diverse
vendors, including small, minority-owned or women-owned businesses.
"A successful merger means there will be even more
possibilities for diverse businesses that we want to support, and that's a good
thing for the health of the communities Pepco serves," Sherrod said. "Exelon
shares Pepco's core value of diversity and intends to build on it going
The merger will bring together Exelon's three electric
and gas utilities - BGE, ComEd and PECO - and Pepco Holdings' three electric
and gas utilities - Atlantic City Electric, Delmarva Power and Pepco - to
create the leading mid-Atlantic electric and gas utility.
The merger has been approved in Maryland,
Delaware, New Jersey and Virginia and by federal regulators. The D.C. Public
Service Commission is currently reviewing the merger and has set a schedule
which would allow for completing the proceeding by the first quarter of 2016.