Regulators in D.C. are considering whether the proposed Pepco-Exelon merger is a good deal.
The $6 billion merger would create one of the nation’s largest energy utilities, marrying the Chicago-based Exelon Corporation with locally-owned Pepco Holdings.
The Public Service Commission of the District of Columbia has set aside two days of hearings to take testimony from supporters and opponents of the merger.
Pepco says the plan includes a number of new community benefits that make the deal beneficial to the region. Opponents, like Anya Schoolman, director of Community Power Network, questioned not only the benefits the merger would bring, but how the deal was worked out, citing the timing of a settlement between the District and Pepco and Mayor Muriel Bowser’s announcement of a $25 million contribution from Pepco to offset the cost of a new soccer stadium.
Wednesday’s hearing kicked off with Pepco officials outlining the benefits, including pledges of increased reliability, that it says are part of the application for the merger.
One striking absence at Wedneday’s hearing: the General Services Administration. The GSA was among the critics of the merger with the greatest amount of political clout — it buys energy for the government to keep federal buildings running. The Washington Post reported late Tuesday that the GSA requested to be excused from the hearings—the agency had been a party to the case being heard by the commission.
Click here to read the rest of the article written by Kate Ryan over at WTOP
