Pepco-Exelon Merger Rejected by D.C. Public Service Commission

From a press release:

“The POWER DC coalition released the following statement in response to today’s decision by the D.C. Public Service Commission to reject Exelon’s attempt to acquire Pepco.

“Power DC is glad that the Public Service Commission followed the will of the District’s electric customers. Thousands of those customers, dozens of Advisory Neighborhood Commissions, and at least six D.C. Councilmembers strongly opposed Exelon’s acquisition of Pepco because it is not in the public interest of the District.

As the Commission recognized in its decision, the proposed acquisition would have been a substantial step backwards in the District’s efforts to move toward more sustainable electricity generation and greater reliance on local, renewable energy. It would have exposed D.C. residents and businesses to the risk of steeply rising electricity bills.

Pepco has always affirmed its capability to provide a high level of service for its customers without this merger, and it has demonstrated a much greater willingness than Exelon to integrate new, customer-centered technologies. We urge Exelon not to pursue its acquisition further, but to accept the Commission’s decision and the overwhelming rejection by the District’s customers. We look forward to working with Pepco to accelerate the progress that the District has made in adopting energy efficiency, distributed solar generation and other affordable, clean energy technologies throughout the city.”