Groups in the D.C. area have come together to voice their support for a proposed merger between Exelon Corp. and Pepco Holdings, the companies announced on Thursday.
This proposed merger had been rejected by the Washington, D.C. Public Services Commission on Aug. 25 by a unanimous decision. The commission’s reasoning was that this merger would not be in the best interest of ratepayers in the area.
Both Exelon and Pepco state that they are willing to discuss this issue further with the commission. Groups associated with business, nonprofit organizations, labor, faith and environmental groups have indicated their support for Pepco and Exelon’s merging.
“Supporters in D.C. continue to believe this merger is good for the District, and so do we,” Chris Crane, president and CEO of Exelon, said. “It would be a missed opportunity to deny Pepco customers the merger’s benefits, such as bill relief for customers and funding for green energy projects.”
The merger has been approved in all other states that hold jurisdiction over the merger: Delaware, Maryland, Virginia. and New Jersey.
“Without this merger, Pepco will be less able to invest in a 21st century electric grid, renewable energy or provide support for charitable giving for customers and communities in the District,” Joseph Rigby, chairman, president and CEO of Pepco, said.
Exelon Generation operates three nuclear power plants, twelve fossil power plants, two landfill gas plants and one pumped storage hydroelectric power plant in the state.
