Exelon, Pepco file for D.C. merger reconsideration

Exelon Corp. and Pepco Holdings Inc. announced Monday that they have filed a petition with the Public Service Commission (PSC) of the District of Columbia to reconsider their merger proposal.

The companies' first attempt failed after the PSC unanimously voted to not approve the merger in late August. They cited that the merger as it was presented indicated that the initial proposal did not serve residents of the Washington, D.C. area.

“We remain convinced our merger offers significant benefits to customers and the District, and we continue working to complete it,” Exelon CEO and President Chris Crane said. “Since the Public Service Commission explained why it didn’t approve the merger last month, we’ve worked to learn what’s most important to the District – and we are responding.”

Chairman, CEO and President of Pepco Holdings said both companies are looking forward to the completion of discussions with district officials. The PSC has issued a statement that confirmed discussions between the commission and both companies and that any agreement made would need to follow proper channels in a new application, public comment period and review.

The Pepco and Exelon merger had been approved by all other PSC's that had jurisdiction relating to the proposed service area. 
Exelon Corp. and Pepco Holdings Inc. announced Monday that they have filed a petition with the Public Service Commission (PSC) of the District of Columbia to reconsider their merger proposal.

The companies' first attempt failed after the PSC unanimously voted to not approve the merger in late August. They cited that the merger as it was presented indicated that the initial proposal did not serve residents of the Washington, D.C. area.

“We remain convinced our merger offers significant benefits to customers and the District, and we continue working to complete it,” Exelon CEO and President Chris Crane said. “Since the Public Service Commission explained why it didn’t approve the merger last month, we’ve worked to learn what’s most important to the District – and we are responding.”

Chairman, CEO and President of Pepco Holdings said both companies are looking forward to the completion of discussions with district officials. The PSC has issued a statement that confirmed discussions between the commission and both companies and that any agreement made would need to follow proper channels in a new application, public comment period and review.

The Pepco and Exelon merger had been approved by all other PSC's that had jurisdiction relating to the proposed service area.